Quicken Loans: Mortgage Loans, Home Equity Loans, Reverse Mortgage

Quicken Loans

www.quickenloans.com
NYSE: INTU
(Finance: Consumer Services)

Originally Rock Financial Corporation, Quicken Loans Inc. was founded in 1985 by Dan Gilbert and is the official lending arm of Intuit Inc. Quicken Loans’ headquarters is in Livonia, Michigan and the current CEO is William Emerson. In 2007 the company employed an estimated 2,900 workers and processed approximately $19 billion in loans.

Contact Info
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Services
Home Equity Loans, Refinance Loans, Mortgages, Reverse Mortgage Loans, Loan Modification

Overview
Quicken Loans Inc. offers all forms of home lending services, including refinancing to lower your monthly payments, to consolidate your debt, or to get cash out from the equity in your home. Applying for a loan through Quicken Loans can be categorized by whether you are a first-time home buyer, you are selling your current house and buying a new one, you are buying a vacation home, or if you are a real estate investor seeking an investment property.

For consumers seeking a home equity loan, Quicken provides notification on the closing of your home in a timely fashion. Additionally, home loan experts are on hand to help advise you on the type of loan that best meets your specific situation. Home equity mortgage calculators are also available to help finance savvy borrowers with estimating mortgage terms and repayment fees.

Quicken Loans offers reverse mortgage services through One Reverse Mortgage Inc. that can eliminate a home owner’s mortgage payment and provide extra monthly income. Learn more about Quicken Loans’ reverse mortgage options through free media found on the company’s website. In addition to reverse mortgage information, finance related information, articles, and tools are available for aiding buyers when making sound financial decisions.

Quicken Loans is a leading online mortgage lender offering refinance loans and residential mortgages, including fixed, adjustable rate, and reverse mortgage loans, to all 50 states. Quicken Loan centers are located in Arizona, California, Michigan, and Ohio. Title insurance, property valuations, and closing services are provided through affiliate company Title Source. Quicken offers FHA-backed reverse mortgages through its San Diego-based One Reverse Mortgage subsidiary. Quicken Loans is owned by Rock Holdings, founded by Dan Gilbert and a group of investors.

Gilbert also owns American Hockey League franchise Lake Erie Monsters and is the majority owner of the National Basketball Association’s Cleveland Cavaliers, whose home games are played at Quicken Loans Arena.

In 2002, Quicken Loans moved to private ownership but did not lose its name that originated as a unit of Intuit, the maker of Quicken TurboTax® and QuickBooks accounting software. Intuit and Quicken Loans remain close marketing partners.

In 2008 Quicken Loans made a strong effort to broaden its market share and bought One Reverse Mortgage and TransUnion Title and Escrow. The acquisition of these two companies aided Quicken by allowing them to provide additional home loan programs and new services to their existing services.

In the same year, Quicken Loand and Fortress Investment Group, a residential mortgage loan investment company, teamed up to introduce refinancing options and loan modification services to borrowers struggling to make mortgage payments.

While the subprime mortgage crisis caused Quicken to issue fewer loans, the company managed to continue to make money through loan refinancing. Quicken plans to continue its growth and relocate their headquarters from Livonia to a newly built office building in Detroit.

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