Fun plus efforts equals success for Quicken Loans

Fun plus efforts equals success for Quicken Loans

Tale Shows

  • Value of Quicken’s home mortgages grows to $70 billion in 2012
  • Business environment mixes casual with a high power
  • Going all-online assists business shrink home loan approval time for you about thirty days

DETROIT — Nerf gunfights and costume contests commonly are not motivated inside major home loan banking organizations. But at Quicken Loans’ head office in downtown Detroit, high jinks and horseplay figure prominently in a business tradition that is upending the industry’s more buttoned-down players.

The newest data reveal the worth of this company’s home mortgages soaring to $70 billion this past year from $12 billion in 2008. Quicken, which runs on the web with no brick-and-mortar storefronts, now ranks because the country’s third-largest mortgage that is residential, shutting in on number 2 JP Morgan Chase, predicated on 2012 fourth-quarter numbers.

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