Quicken Loans
From Wikipedia, the free encyclopedia
| Quicken Loans Inc. | |
 |
|
| Type | Private |
|---|---|
| Founded | 1985 |
| Headquarters | Livonia, MI, the United States |
| Key people | Dan Gilbert, Founder and Chairman William Emerson, CEO (since 2002) Patrick McInnis, President (since 2002) |
| Industry | Finance and Mortgage |
| Products | Mortgage |
| Employees | 3,500 |
| Website | www.quickenloans.com |
Quicken Loans Corporation is the largest online retail home mortgage lending firm in the US, according to National Mortgage News. Quicken Loans Inc. is comprised of the Quicken Loans and Rock Financial brands, and Title Source, a settlement service provider. Quicken Loans closed $16 billion in residential mortgage loans in 2005.
Founded in 1985 as Rock Financial, Quicken Loans employs more than 3,500 people. Quicken Loans currently has three Internet Home Lending Centers in southeastern Michigan; two are in Livonia and one is in Troy. An Internet Home Lending Center opened in Cleveland, Ohio in April, 2006.
[edit] History
Quicken Loans, previously Rock Financial Corporation, was founded in 1985 by Dan Gilbert and soon became one of the largest independent mortgage banks in the country. In May 1998, Gilbert took Rock Financial public, launching a successful IPO underwritten by Bear Stearns and Prudential Securities.
Initially a brick and mortar lender, the company launched Rockloans.com in January 1999.
In December 1999, Intuit Inc. (makers of Quicken TurboTax and Quicken) purchased Rock Financial. The company was renamed Quicken Loans. In June 2002, Gilbert led a small group of private investors in purchasing the Quicken Loans subsidiary back from Intuit.
[edit] Leadership
Dan Gilbert – Chairman of the Board
William Emerson – CEO
Patrick McInnis - President
