Rocket Mortgage

The Federal Reserve's emergency rescue of the U.S. mortgage market should have set off celebration among lenders trying to keep up with demand from borrowers. Instead, executives at Quicken Loans got a hefty margin call.

Mortgage lenders are preparing for the biggest wave of delinquencies in history. If the plan to buy time works, they may avert an even worse crisis: Mass foreclosures and mortgage market mayhem.

Detroit-based mortgage giant Quicken Loans could be facing a cash crunch in coming weeks and possibly need temporary emergency federal assistance if lots of borrowers stop making payments on their home mortgages during the coronavirus pandemic, according to a news report.

To address the coronavirus' impact, banks like Truist and Ally and nonbanks like Quicken Loans are assisting communities as well as making adjustments to support their workforce and customers.

From increased consumer engagement to new forms of payment, mortgage servicers are finding themselves faced with new trends in the market that they need to address.

United Wholesale Mortgage invested in regional Super Bowl advertising for the first time and local competitor Quicken Loans added to its longstanding national marketing ties to the game.

Dan Gilbert has been back in the office and could soon be making his first public appearance since suffering a stroke last May, Quicken Loans CEO Jay Farner said.

High employment, low interest rates and technology helped two Metro Detroit mortgage giants post record years in 2019.

Quicken Loans, which has a history of advertising its Rocket Mortgage digital application with high-profile Super Bowl promotions, is doubling down on its ties to the National Football League event.

The dollar volume of mortgages guaranteed by the Department of Veterans Affairs rose nearly 9% in the past fiscal year as interest-rate reduction refinancing loans surged nearly 75%.