September was the best month ever for closed mortgages at Quicken Loans Inc., $3.4 billion, which equates to approximately 15,500 loans.
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The previous best for the Detroit-based company was set one month prior, in August, at $3.15 billion or nearly 14,000 loans.
Quicken is on pace to exceed its record annual production of $25 billion, set in 2009. It expects to close over $30 billion this year.
The production of Federal Housing Administration and Veterans Affairs loans is expected to be over $8 billion this year (approximately 45,000 loans). This is up from $7.5 billion in this category in 2009 (42,000 loans).
The company also touted its closing time performance, with 75% of its closings being processed in 28 business days or less.
