In the third quarter of 2019, Quicken Loans closed $40 billion in mortgages, the highest quarterly volume in its 34-year history. The company also achieved record-high mortgage volume of $15 billion in September 2019. Before the end of 2019, Quicken Loans had already surpassed its total 2018 mortgage volume of $83 billion and its highest-ever mortgage volume of $96 billion in 2016.
CEO Jay Farner says the first nine months of 2019 were “nothing less than inspiring, not only in terms of how much our company has grown, but because of the incredible number of clients we have helped achieve the American Dream of homeownership.” He adds, “The fact that we can provide homebuyers a simple, tech-driven mortgage experience that gives them transparency into the mortgage process drives our success. I am so grateful for our team members who continue to deliver the best service possible to our clients while also continuing to innovate and revolutionize the way Americans get a mortgage.”
Quicken Loans introduced Rocket Mortgage, a fully digital mortgage experience, in 2015. Quicken Loans now has the ability to end the mortgage process digitally with an eClosing in all 50 states.
In 2019, Rocket Mortgage by Quicken Loans began a five-year partnership with Detroit PAL, an organization that offers programs and activities for local youth. The company will provide financial and volunteer support. “As Detroit’s largest employer, we love our home city and are dedicated to ensuring that all Detroiters have a path to a successful future,” says Farner.