Quicken Loans Crosses $2 Billion Milestone in Monthly Closing Volume:
$2.1 Billion in Monthly Retail Home Lending Volume Closed During March 2007 is All-time Company Record and Most Closed Online in U.S. History
250 new full-time hires each month fueling growth; New record strengthens company's position as the #1 largest online retail lender in America.
LIVONIA, Mich., April 3, 2007 - Quicken Loans announced today that for the first time in its nearly 22-year history, the company has surpassed closing $2 billion in home loan volume in a single month - closing $2.1 billion in home loans for the month of March, 2007. Not only is this an all-time company record for Quicken Loans, it's also the largest amount ever closed by an online lender in a single month in U.S. history.
"Every one of our 4,300 team members made a significant contribution to attaining this milestone; they are the key to our growth and success," said Quicken Loans Founder and Chairman Dan Gilbert. "We have a family of committed, aware and dedicated people who, with their strong sense of urgency and their obsession with always finding better ways, drove us to this exciting new company record."
"We've created an entrepreneurial environment and culture. It is one where our people are encouraged to take initiative and make decisions that make the process and experience easier and better for our clients," Gilbert added.
Quicken Loans closed nearly $18 billion in home mortgage loans in 2006, the company's strongest year. The 50-state home loan lender closed more than $5.8 billion in retail mortgage volume for the first quarter of calendar year 2007, which is up 75 percent from the first quarter of calendar year 2006. This growth has allowed Quicken Loans to strengthen its position as the nation's largest online retail mortgage lender in a home lending market that has been afflicted with many challenges during the past year.
Quicken Loans is continuing to hire more than 250 team members each month. Many of the new positions created are based in southeast Michigan. In addition, Quicken Loans recently opened Internet Home Lending Centers in downtown Cleveland, Ohio, and Scottsdale, Arizona. Those two centers currently employ a total of 325 people. Each is expected to grow to 400 team members, or more, over the next 12-24 months.
Quicken Loans assists clients living in all 50 states in the home buying and refinancing process. Most new employees attend a training program that includes 250 hours of initial training and more than 200 hours of additional training each year, as well as leadership training.
The company has a rewards-based culture in which team members can win concert tickets at the Quicken Loans Arena or take in an NBA game (Chairman Dan Gilbert also is majority owner of the NBA's Cleveland Cavaliers) and even compete to win a Caribbean cruise.
For more information about Quicken Loans or Rock Financial, or to apply for a position, please visit our Careers Web site at www.quickenloanscareers.com. To gain more perspective about Quicken Loans and our culture, visit our team members' blog at www.whatsthediff.com.
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