- 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.
Quicken Loans History
Find us at all of your favorite places on the web
What's On Our Minds
The FHFA's announcement to extend the HARP deadline to 2015 is much needed news for the millions of underwater homeowners who are eligible and still able to benefit by refinancing.
|2012 Loan Volume:||$70B|
|Residential Lender Rank:||3|
Detroit-based Quicken Loans is the nation’s largest online retail mortgage lender and the third largest retail home lender in the United States. The company closed a record $70 billion in home loan volume across all 50 states in 2012, breaking a company record of $30 billion set in 2011.