Quicken Loans has announced it originated $20.5 billion in home loan volume during the first quarter of 2018—an increase of 5 percent year-over-year. The figure increases its lead on its next largest competitor by more than $4 billion in volume, according to a company release.*
“Quicken Loans is focused on the same things that have differentiated us for many years,” says Jay Farner, CEO of Quicken Loans. “We are committed to our unique culture, investing in our talented people, leading technology, and our unparalleled client experience.”
Ninety-eight percent of the company’s Q1 volume accessed its Rocket Mortgage platform, according to the release. Rocket Mortgage has allowed clients to go from creating an account to signing closing documents in as few as eight days on a refinance and 16 days on a purchase, the release states.
“Rocket Mortgage is game-changing technology, but it’s just the beginning,” Farner says. “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.”
Quicken Loans e-closed its first loan in late 2017. In February 2018, a client participated in the first remote online notarization—closing a mortgage with a notary present via video chat.
Quicken Loans continues to invest in connecting with current and future homebuyers. In addition to reaching the 100 million-plus viewers of Super Bowl LII, the brand was featured in a major motion picture release during Marvel Studios’ “Avengers: Infinity War.” The lender is also in the middle of its third PGA TOUR season with pro golfer Rickie Fowler, and, the company recently entered the fast-growing esports world by sponsoring 100 Thieves and the Cavs Legion, two professional videogaming teams.
*First quarter 2018 lender volumes and marketshare were acquired from information gathered from public company disclosures, industry publications and other highly-credible sources known to Rock Holdings, Inc., the parent company of Quicken Loans. Calculations of closed loan volume and marketshare do not include closed loans purchased from other originating lenders who handled all consumer communication and interaction, processed, closed and funded the loan.
For more information, please visit www.quickenloans.com.
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