Quicken Loans History

• Quicken Loans Inc., previously Rock Financial Corp., was founded in 1985 by Dan Gilbert.
• In October 1997, Rock Financial became affiliated with title insurance company, Title Source Inc., to help support its residential lending business.
• In May 1998, Gilbert took Rock Financial public, launching a successful IPO underwritten by Bear Stearns, Inc. and Prudential Securities.
• Initially a branch-based lender, the company launched Rockloans.com in January 1999, which quickly positioned the company as one of the fastest growing online direct mortgage lenders on the Internet.
• In December 1999, Intuit Inc. (makers of market-leading software Quicken, TurboTax and QuickBooks) purchased Rock Financial. The company was renamed Quicken Loans.
• In August 2002, Gilbert led a small group of private investors in purchasing the Quicken Loans Inc. subsidiary back from Intuit; Quicken Loans has been privately held since. The company retained all Quicken Loans branding and marketing initiatives.
• Today, Quicken Loans employs nearly 10,000 team members and closes loans in all 50 states and 3,100 counties throughout the United States. The company closed $70 billion in home loans in 2012.
• In August 2010, Quicken Loans moved its headquarters and 1,700 full-time team members to downtown Detroit.
• Dan Gilbert coined the name “WEBward Avenue” to illustrate the movement toward a brain-based economy that is currently taking hold in Detroit.
• In October 2011, Quicken Loans moved an additional 2,000 team members to the Chase Tower Building (owned by Gilbert).
• In June 2012, Quicken Loans partners with other Detroit businesses to create “IT in the D,” a program to give local university students real-world experience to prepare them for tech jobs in Detroit.
• In October 2012, Rock Ventures and Quicken Loans launch “Opportunity Detroit” with a national commercial narrated by Kid Rock on the Fox television network during the fourth game of the World Series.

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