Rocket buys largest mortgage servicer

(CNN)– Mortgage giant Rocket is buying the largest mortgage servicer in the U.S., “Mister Cooper Group,” for $9.4 billion.

If the acquisition closes as expected in the fourth quarter, it would be the second-largest deal ever in the mortgage industry.

Rocket which is the third-largest mortgage lender in the U.S. says the combined company would service about one in every six mortgages in the nation.

In March, Rocket announced plans to buy real estate brokerage “Redfin” for nearly $1.8

billion.