Detroit-based Quicken Loans Inc. has announced it closed more than $70 billion in home loan volume in 2012, a 133 percent increase over its $30 billion previous record set in 2011. In addition, Quicken Loans became the third largest retail lender in America, as well as solidifying its position as the largest online lender in the country. The company nearly doubled its number of full-time team members over the past year and now employs more than 8,000 in offices in Detroit, Cleveland and Scottsdale, Arizona, including almost 900 technology related positions.
"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 incredible, dedicated, and innovative brain-force of passionate team members," said Dan Gilbert, Quicken Loans founder and chairman.
In 2012, Quicken Loans was ranked highest in customer satisfaction for the third consecutive year among all home loan lenders in America by J.D. Power and Associates.
Quicken Loans also became the exclusive home loan provider of Charles Schwab Bank, and licensed its proprietary loan origination technology to JP Morgan Chase.
The organization also significantly entered the mortgage servicing business, announcing it had built an $80 billion-plus servicing portfolio as of the end of calendar year 2012.
"We handled our explosive growth quite well over the past year," said Bill Emerson, CEO of Quicken Loans. "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."