Quicken Loans

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Quicken Loans Inc.

Type	Private
Founded	1985
Headquarters	Livonia, MI, the United States
Key people	Dan Gilbert, Founder and Chairman William Emerson, CEO (since 2002) Patrick McInnis, President (since 2002)
Industry	Finance and Mortgage
Products	Mortgage
Employees	4,300
Website	www.quickenloans.com

Quicken Loans Corporation is the largest online retail home mortgage lending firm in the US, according to National Mortgage News and the 11th largest lender in the United States. Quicken Loans Inc. is comprised of the Quicken Loans and Rock Financial brands, and Title Source, a settlement service provider. Quicken Loans closed $18 billion in residential mortgage loans in 2006.

Founded in 1985 as Rock Financial, Quicken Loans employs more than 4,300 people. Quicken Loans currently has three Internet Home Lending Centers in southeastern Michigan; two are in Livonia and one is in Troy. An Internet Home Lending Center opened in Cleveland, Ohio in April, 2006. Another Internet Home Lending Center opened in Scottsdale, Arizona in January, 2007.

[edit] History

Quicken Loans, previously Rock Financial Corporation, was founded in 1985 by Dan Gilbert and soon became one of the largest independent mortgage banks in the country. In May 1998, Gilbert took Rock Financial public, launching a successful IPO underwritten by Bear Stearns and Prudential Securities.

Initially a brick and mortar lender, the company launched Rockloans.com in January 1999.

In December 1999, Intuit Inc. (makers of QuickBooks, TurboTax, and Quicken) purchased Rock Financial. The company was renamed Quicken Loans. In June 2002, Gilbert led a small group of private investors in purchasing the Quicken Loans subsidiary back from Intuit.