Quicken Loans continues to be America’s largest mortgage lender by volume*, the second consecutive quarter it has held the title atop a list of more than 30,000 lenders across the country.
On the strength of innovative technology in the form of Rocket Mortgage and a commitment to superior client service, Quicken Loans was able to originate $20.5 billion in home loan volume in the first quarter, outpacing its nearest competitor by more than $4 billion in loan volume.
The origination volume represents an increase of 5% over the first quarter of 2017, and it comes at a time when the mortgage industry is facing challenges of rising interest rates, expensive overhead and the need to put more investment into technology and people development.
“Quicken Loans is focused on the same things that have differentiated us for many years. We are committed to our unique culture, investing in our talented people, leading technology, and our unparalleled client experience,” said Jay Farner, Quicken Loans CEO. “Rocket Mortgage is game-changing technology, but it’s just the beginning. Our most innovative technology, that will continue to disrupt the home lending and home buying industry, will be rolled out in the near future. Everything that we do is focused on improving the experience and satisfaction of our clients during the most important and largest investment of their lives.”
Because the technology helps gather information and get our clients approved faster, Quicken Loans has been integrating the technology behind Rocket Mortgage into our process, whether the client starts on the website or by talking to one of our knowledgeable Home Loan Experts.
Combining the power of Rocket Mortgage with the expertise and guidance of our skilled Home Loan Experts has allowed us to do things like provide clients with approvals in eight minutes and take days – or even weeks – off the time to go from mortgage application to close. The technology has allowed us to close refinances in as few as eight days and purchases in as few as 16 days.
Quicken Loans is always looking for new ways to innovate and improve the experience for our clients. One of the ways we’ve done that is to take the entire mortgage process and make it digital. Quicken Loans was able to complete its first e-closing in late 2017, with the client accessing all of their information and legal paperwork on a tablet. And in February of this year, for the first time we completed a closing with the notary present via remote video chat.
The popularity of Rocket Mortgage and the online mortgage experience has been especially apparent among first-time home buyers, which has helped Quicken Loans achieve record purchase-mortgage volume in the first quarter.
Quicken Loans is continually looking to connect with home buyers and refinancers. We reached more than 100 million viewers with our commercial during Super Bowl LII, and recently built on that momentum by being featured in Marvel Studios’ Avengers: Infinity War.
We sponsor golfer Rickie Fowler and have entered the rapidly growing e-sports market, sponsoring two of the nation’s finest professional video game teams: 100 Thieves and Cavs Legion.
If you’re interested in buying or refinancing a home, we’d be happy to help. You can get started online through Rocket Mortgage by Quicken Loans or give one of our Home Loan Experts a call at (888) 980-6716.
*Based on Quicken Loans data in comparison to public data records.
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