DETROIT, Feb. 1, 2018 /PRNewswire/ — Detroit-based Quicken Loans today announced it has become the nation’s largest residential mortgage lender in the 4th quarter of 2017– surpassing close to 30,000 lenders (commercial banks, savings and loans, credit unions, mortgage bankers, mortgage brokers) across the country.
The company, founded in 1985, was originally launched as a brick-and-mortar branch operation, with locations primarily based in the Midwest.
In 2000, Quicken Loans shifted its fundamental business model to an online platform. This strategy was pivotal in catapulting the lender into a 50-state, centralized, consumer-direct mortgage lender with capacity to close large volumes of mortgage loans in all 3,000 counties across America. In essence, it was the defining moment that would eventually lead to Quicken Loans becoming the leader in the FinTech lending industry.
Quicken Loans’ philosophy of an obsessive focus on team member and client satisfaction, combined with its game-changing technology, was the formula that allowed the lender to make consistent market share gains nearly each year over the past two decades. This unique model finally culminated with Quicken Loans emerging as the largest overall home lender in the United States in the 4th quarter of last year.*
“I could not be more proud of each and every one of our 17,474 team members, who each day bring incredible passion and determination to deliver our clients the best possible experience, during the single biggest financial transaction in most of their lifetimes,” said Dan Gilbert, Founder and Chairman of Quicken Loans. “Achieving the #1 market share of all mortgage lenders is an exciting accomplishment, but we are even more inspired that we reached this significant milestone, while at the same time delivering the best client experience in the nation for the last 8 consecutive years and running.”
Quicken Loans’ success can be attributed to the company’s strong culture, built on an uncompromised dedication to putting clients first. As a result, the company has earned an unprecedented 12 J.D. Power awards including an unprecedented eight consecutive years Quicken Loans was ranked #1 in client satisfaction in the country – a recognition based entirely on client feedback collected by the independent research firm.
The company’s investment of capital along with its culture of encouraging team member innovation has created a steady stream of disruptive technologies that simplify and speed up the lending process.
In early 2016, Quicken Loans launched Rocket Mortgage, via