Quicken Loans Sets 27-Year, All-Time Company Record Closing More Than $70 Billion of Retail Home Loan Volume in 2012

DETROIT, Jan. 9, 2013 /PRNewswire/ -- Detroit-basedQuicken Loans Inc. today announced it closed more than $70 billion in home loan volume in 2012, a 133 percent increase over the $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 - and growing - servicing portfolio as of the end of calendar year 2012.

"We handled our explosive growth quite well over the past year," said Bill Emerson, Chief Executive Officer 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."

About Quicken Loans Inc.
Detroit-based Quicken Loans Inc. is the nation's largest online home lender and the country's third largest retail home mortgage lender. The company closed a record $70 billion of volume across all 50 states in 2012. Quicken Loans generates loan production from web centers located in Detroit, Cleveland and Scottsdale, Arizona. The company also operates a centralized loan processing facility in Detroit, as well as its San Diego-based One Reverse Mortgage unit. Quicken Loans ranked #1 in customer satisfaction among all home mortgage lenders in the United States by J.D. Power and Associates in 2010, 2011 and 2012.

The company also ranked in the top 10 of FORTUNE magazine's "100 Best Companies to Work For" in 2012 and has placed among the top 30 companies on FORTUNE's list for the past nine years. It ranked in the top 15 of Computerworld magazine's "100 Best Places to Work In Technology" for eight years in a row, ranking in the top 5 in 2012. The company has recently moved its headquarters and more than 7,000 of its 8,000-plus team members to downtown Detroit. For more information about Quicken Loans, please visit quickenloans.com, on Twitter at @QLnews, and on Facebook at facebook.com/QuickenLoans.

SOURCE Quicken Loans Inc.