Boom Times for Quicken Loans

For Quicken Loans, 2012 was a year that featured explosive growth highlighted by the nation’s largest online lender surpassing the previous year’s volume of retail home loans.

Quicken Loans set an all-time company record by closing more than $70 billion of retail home loans last year. This figure represents a 133% increase over the $30 billion record previously set in 2011.

“Our success and accomplishments over the past year can once again be attributed to our unique culture and 50-state centralized mortgage processing and closing platform, built and managed by our innovative brain-force of passionate team members,” said Dan Gilbert, founder and chairman of Quicken Loans.

Other news from the company over the past year includes nearly doubling its number of full-time employees, in which there is now over 8,000 people working for the lender in its Detroit headquarters, as well as offices in Cleveland and Scottsdale, Ariz. Also, almost 900 technology related positions were assigned.

In 2012, Quicken was ranked highest in customer satisfaction for the third consecutive year among all home loan lenders by J.D. Power and Associates. 

Lastly, the organization entered into the mortgage servicing business, announcing it had built an $80 billion servicing portfolio at the end of the calendar year.

“In addition to record revenue and volume, we positioned ourselves for 2013 and beyond by developing key partnerships that will serve as a foundation for the continued future growth of our business and market share,” said Bill Emerson, chief executive officer of Quicken Loans.