DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/108762
LENDER/SERVICER PROFILE ONE2WATCH Quicken Loans key personnel company vitals Dan Gilbert Founder and Chairman Headquarters: Detroit, Michigan Take a look inside the numbers Phone: 800.863.4332 Bill Emerson s e r v ic e c e n t e r s * Online: QuickenLoans.com CEO Jay Farner President and Chief Marketing Officer Bob Walters Quicken Loans is the largest online retail mortgage lender in the United States. In addition to the retail lending arm, One Reverse Mortgage and Title Source, a mortgage settlement service provider, round out Quicken's home finance offerings. In 2012, Quicken Loans processed approximately $70 billion in residential mortgage loans. Chief Economist company's l atest Staffing » Company-wide staff: 8,000 »Servicing sites: 6 servicing summary * Portfolio Stats » Residential Servicing Portfolio: $80.1B UPB Portfolio Growth Unpaid Principal Balance (UPB) » January 2013: $80.1B » January 2012: $23.5B » Annual Change: +241% *As of January 31, 2013 know this J.D. Power and Associates named Quicken Loans the Highest in Customer Satisfaction for Primary Mortgage Origination in 2010, 2011, and 2012. January 9, 2013 Cleveland, Ohio Business boomed at Quicken Loans in 2012, the Detroit-based company announced. Quicken closed more than $70 billion in home loan volume throughout 2012, a 133 percent increase over the previous record of $30 billion set in 2011. The company also nearly doubled its number of full-time team members over the year and now employs more than 8,000 in offices in Detroit, Cleveland, and Scottsdale, Arizona, including almost 900 technology-related positions. That growth didn't go unnoticed: Mortgage Daily recognized Quicken as one of the top five lenders in Q3 2012, and it was one of only a few banks to hold onto its market share. According to a release from Quicken, the company is now the third largest retail lender in America, and it reigns as the largest online lender in the country. North Scottsdale, Arizona —TheMReport.com San Diego, California Charlotte, North Carolina *Based on employee count know this Quicken Loans ranked in the top-5 of Computerworld magazine's "100 Best Places to Work in IT" in 2012, making the list the past eight years and ranking No. 1 in 2005, 2006, and 2007. origination volume November 19, 2012 Quicken Loans Inc. and Sister Company Quizzle LLC, Ranked #1 in Detroit Free Press' 'Top Workplace in Michigan' list for the third consecutive year Quicken Loans Inc. and its sister company Quizzle LLC, two Detroitbased companies committed to transforming downtown Detroit into a vibrant place to live, work and play, were ranked #1 in the Detroit Free Press 'Top Workplace in Michigan' list for the third consecutive year. Quicken Loans is the nation's largest online home lender and fourth largest retail lender. The company closed a record $30 billion in retail home loan volume across all 50 states in 2011 and is on track to shatter that record in 2012. Quizzle is an innovative website that helps consumers gain a complete understanding of their home, money and credit situation - with a truly free credit report and score every six months. "Being recognized as the #1 workplace in Michigan for the third year in a row is great, especially considering the award is based on team member feedback," said Quicken Loans CEO Bill Emerson. "Our company has seen rapid growth this year, and we are more committed than ever to providing a culture where innovation and communication are rewarded." Sources: Quicken Loans (1/21/2013, 1/31/2013), J.D. Power and Associates (11/15/2012) 86 Detroit, Michigan Quicken Loans Looks Back on Year of Success —PR Newswire » $70B in 2012, up 133% from $30B in 2011 » 71% of 2012 originations were refinances customer service* » Customers updated regarding their application status an average of 4.8 times prior to final approval » Application-to-approval averages 17.8 days, 8.5 days shorter than the industry average of 26.3 days » Numerous electronic options offered during the application approval process, including ability to submit supporting documents online and e-signature capabilities » On average, customers close their loan 20.7 days from approval, more than 4 days sooner than the industry average of 24.9 days » Meets time frames provided customers 81% of the time *Source: J.D. Power and Associates' 2012 U.S. Primary Mortgage Origination Satisfaction Study