Home Loans - Quicken Loans Announces Closing Of One Million Loans

As Quicken Loans Inc., the nation’s largest online lender, celebrates its 25th anniversary, it also announced the closing of its 1 millionth home loan.

Founded in 1985 by Dan Gilbert, Quicken Loans is also one of the top 5 retail mortgage lenders in the United States. Says Gilbert, “We believe the success we have achieved in the last quarter century has two primary pillars; first and foremost, is the unique, special and highly empowering environment and culture we have created for the 4,000-plus incredible, curious, aware and motivated team members who make up our brain-force. Second, is our core strategy, initiated years ago to develop a technology driven, process-focused, large scale capacity to process and close home loans in all 50 states and 3,000 counties from a centralized environment with a level of client care and experience unparalleled in our business.”

The 1 millionth home loan was granted to Todd and Jill Biedermann of Stewartstown, PA. Quicken Loans presented the couple with a gift equal to a full year of their mortgage payments. They also received an iPad with a congratulatory message from CEO Bill Emerson, signed Cleveland Cavaliers memorabilia, a Fatheads certificate, a Protect America home security system, and one free year of Quizzle credit monitoring.

“Today’s celebration is a tribute to the company that we have built - a company that shuns bureaucracy and understands that numbers and money follow, they don’t lead,” Emerson said. “We understand that people, not profits, are the gears that drive business, and by unleashing our team members’ ability to impact positive change we not only receive the great benefits of their input, we also develop much happier and productive team members. Each day our team members come to work with one singular focus - what can they do today to amaze our clients.”

Quicken Loans recorded a record $6.8 billion in home loans from September 1st through October 31st this year, and have closed more than 250,000 individual home loans in the past two years. The company will continue to celebrate with their customers through the “Thanks a Million” contest, open to new loans or refinances closed by December 31, 2010. The contest winner will have their loan, up to $250,000, paid off. Two runners up will each receive a $5,000 gift card. Customers who are not currently considering a refinance can play the instant-win game for the opportunity to win gifts and services such as gift cards and free credit monitoring.

“We have achieved record loan volume, revenue and profitability at a time when our industry has faced its most serious challenges in history,” added Gilbert. “We will continue to obsess over improving the quality of our clients’ experience and further decrease the time it takes between application and closing, which already leads the industry by a wide margin. We remain committed to treating each and every client as if they are a part of our family. I look forward to closing our next million home loans and beyond.”