Quicken Loans just posted its best ever quarter

by Steve Randall17 Jul 2019

Quicken Loans is celebrating its best ever quarter with each of April, May, and June recording originations of at least $10 billion.

The milestone was reached for the first time in the lender’s 34 year history in April with May and June posting even higher totals. June’s near-$11 billion mortgage volume brought the quarterly total to $32 billion.

"The single focus since our company's inception has been to help our clients achieve the dream of homeownership while delivering the highest levels of service and care," said Jay Farner, CEO of Quicken Loans. "This simple philosophy has created a unique culture empowering our dedicated team members to set and surpass records while growing our position as America's largest lender. Our team members have never wavered from setting the bar and delivering the best client service in the industry to our millions of clients – even through this significant growth."

But the record-breaking didn’t stop there in the second quarter, as the firm also posted its highest ever closed loan volume for home purchases.

More than two thirds of those using its online Rocket Mortgage process used it to buy a home and three quarters were first-time buyers.

Giving back

The firm’s high volume of mortgage originations means that it can invest more in helping communities.

Quicken Loans and the Rock Family of Companies have invested more than $200 million and more than 500,000 volunteer hours in its communities in the past 9 years.

"The ultimate impact of a record-breaking quarter is that we can continue to reinvest our resources into communities like Detroit through our 'For-More-Than-Profit' approach," said Farner. "From education and housing stability initiatives to entrepreneurship programs, our team members are at the forefront of growth - both in the business and the communities in which they live, work, and play."

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