21-Year Quicken Loans Veteran Jay Farner Promoted to Chief Executive Officer

  • February 10, 2017

· Bill Emerson becomes Vice Chairman of Rock Holdings
· Bob Walters transitions to President and COO

DETROIT, February 10, 2017 – Detroit-based Quicken Loans today announced the promotion of three members of the company’s senior leadership team, effective immediately.

Longstanding CEO, Bill Emerson, will immediately transition to the role of Vice Chairman of Rock Holdings, Quicken Loans’ parent company. In his 24 years with the company, Emerson has overseen the growth of Quicken Loans, which has become the world’s largest online lender.  In this newly created position, Emerson will not only continue to provide guidance to Quicken Loans, but will also take an expanded role advocating for the mortgage industry and leading the growth of the culture across the entire Rock Holdings portfolio.

Jay Farner, who has been with Quicken Loans for 21 years, and most recently served as President and Chief Marketing Officer, has been named the new Chief Executive Officer of the company.  Farner will oversee all aspects of the business, while continuing to expand Quicken Loans’ leadership position in the FinTech space.

Bob Walters, Quicken Loans’ Chief Economist, will now serve in the dual capacity of President and Chief Operating Officer.  Walters, who has spent 20 years at the company, will oversee the day-to-day operations of the business, focusing on strategic planning and leveraging synergies among the various teams at Quicken Loans.

“For nearly all of Quicken Loans’ 31 year history, Bill, Jay and Bob have been at the forefront, driving our strategy and culture,” said Dan Gilbert, Chairman and Founder of Quicken Loans.  “Their passion and absolute dedication to growing our team members has been instrumental in our company becoming the leader in technology, innovation and client service.”

Quicken Loans is the nation’s second largest mortgage lender, employing 16,000 team members across the country, with more than 10,000 located within downtown Detroit.    The company has been ranked #1 by J.D. Power for client service in mortgage origination for the past seven consecutive years out of the more than 40,000 entities that provide home mortgages across the nation. In addition, J.D. Power has also ranked Quicken Loans #1 in client experience for mortgage servicing the last three consecutive years.

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About Quicken Loans:

Detroit-based Quicken Loans Inc. is the nation’s second largest retail home mortgage lender. The company has closed nearly $300 billion of mortgage volume across all 50 states between 2013 and the end of 2016. Quicken Loans generates loan production from web centers located in Detroit, Cleveland and Scottsdale, Arizona. The company also operates a centralized loan processing facility in Detroit, as well as its San Diego-based One Reverse Mortgage unit. Quicken Loans ranked “Highest in Customer Satisfaction for Primary Mortgage Origination” in the United States by J.D. Power for the past seven consecutive years, 2010 – 2016, and highest in customer satisfaction among all mortgage servicers the past three years, 2014 – 2016.

Quicken Loans was ranked No. 5 on FORTUNE magazine’s annual “100 Best Companies to Work For” list in 2016, and has been among the top-30 companies for the last 13 years. It has been recognized as one of Computerworld magazine’s ’100 Best Places to Work in IT’ the past 12 years, ranking No. 1 in 2016, 2015, 2014, 2013, 2007, 2006 and 2005. The company moved its headquarters to downtown Detroit in 2010, and now more than 10,000 of its 16,000 team members work in the city’s urban core. For more information about Quicken Loans, please visit QuickenLoans.com, on Twitter at @QLnews, and on Facebook at Facebook.com/QuickenLoans.

About Rock Holdings Inc.:

Rock Holdings Inc. is the parent company of several FinTech businesses. These companies include Quicken Loans, the world’s largest online lender and its web-based One Reverse Mortgage unit; Title Source, a centralized 50-state provider of title insurance and settlement services; Quicken Loans Mortgage Services (QLMS), a tech-enabled mortgage origination platform servicing community banks and credit unions across the country; In-House Realty, a digital platform matching clients with high-quality pre-screened real estate agents nationwide; RocketLoans, the fastest online personal loan platform in America; Rock Connections, a national strategic marketing company specializing in outbound and inbound client service for numerous online, technology and other businesses. Rock Holdings Inc. employs more than 16,000 team members and is headquartered in Detroit.

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