Detroit-based Quicken Loans Inc., the nation’s largest online mortgage lender and a top-five retail mortgage lender, Tuesday announced it recently closed its one millionth home loan. 

This milestone comes in the same year the company is celebrating its 25th anniversary.

Quicken Loans, founded in 1985 as Rock Financial by Dan Gilbert, its current chairman, has grown into the nation’s largest online home lender, assisting clients and closing loans in all 50 states from centralized Internet lending centers in Michigan, Ohio and Arizona.

“We believe the success we have achieved in the last quarter century has two primary pillars; first and foremost, is the unique, special and highly empowering environment and culture we have created for the 4,000-plus incredible, curious, aware and motivated team members who make up our brain-force,” Gilbert said. “Second, is our core strategy, initiated years ago to develop a technology driven, process-focused, large scale capacity to process and close home loans in all 50 states and 3,000 counties from a centralized environment with a level of client care and experience unparalleled in our business.”

To celebrate, Todd and Jill Biedermann of Stewartstown, Pa. — whose recently closed mortgage became the company’s millionth loan — were surprised at their home by Quicken Loans leaders with the good news that the company awarded the Biedermanns an amount equal to their mortgage payments for a full year. The Biedermanns also received an iPad with a congratulatory message from Quicken Loans CEO Bill Emerson in addition to several items from Quicken Loans’ sister companies, including signed memorabilia from the NBA’s Cleveland Cavaliers — owned by Gilbert — a certificate for custom Fatheads, a home security system from Protect America and one free year of credit monitoring from Quizzle.

“Today’s celebration is a tribute to the company that we have built – a company that shuns bureaucracy and understands that numbers and money follow, they don’t lead,” Emerson said. “We understand that people, not profits, are the gears that drive business, and by unleashing our team members’ ability to impact positive change we not only receive the great benefits of their input, we also develop much happier and productive team members. Each day our team members come to work with one singular focus – what can they do today to amaze our clients.”

Quicken Loans closed a record total of $6.8 billion in home loan volume during the recent two month period of Sept. 1 – Oct. 31, 2010. In the past two years, the company has closed more than 250,000 individual home loans. 

“We have achieved record loan volume, revenue and profitability at a time when our industry has faced its most serious challenges in history,” added Gilbert. “We will continue to obsess over improving the quality of our clients’ experience and further decrease the time it takes between application and closing, which already leads the industry by a wide margin. We remain committed to treating each and every client as if they are a part of our family. I look forward to closing our next million home loans and beyond.”

Quicken Loans is inviting consumers to celebrate its millionth loan and 25-year anniversary through the “Thanks a Million” contest and instant-win game. The contest, which runs through December, will pay off one client’s loan, up to $250,000. To qualify, clients must close their loan with Quicken Loans no later than Dec. 31. For consumers not currently considering a home purchase or refinance, the company also is running an instant win game offering visitors the opportunity to win one of several thousand gifts, including credit monitoring services from, lifesize wall graphics from Fathead, home alarm systems from Protect America and gift cards from popular retailers.

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(c) 2010, WWJ Newsradio 950. All rights reserved.


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