Detroit’s Quicken Loans Inc. announced Thursday it has closed $40 billion in home loans in the third quarter, the highest quarterly volume in the company’s 34-year history. Mortgage volume also hit a record high in September with $15 billion of closed loan volume, which the company expects to surpass in coming months.
As a result of 2019’s growth, Quicken Loans has outpaced its total mortgage volume from 2018 ($83 billion), and has surpassed its highest-ever full-year mortgage volume ($96 billion in home loans), which it attained in 2016.
As part of its rapid growth, the company is looking to fill 1,800 open positions in entry-level to specialized roles. It is seeking mortgage bankers, QLMS account executives, underwriters, software engineers, data scientists, paid interns, and more.
“The first nine months of the year have been 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,” says Jay Farner, CEO of Quicken Loans.
“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 in late 2015, the first fully digital mortgage experience. Now, 98 percent of all home loans originated by Quicken Loans uses the technology. Additionally, earlier this month, the company announced it has the ability to finish a mortgage with an e-closing in all 50 states, and 96 percent of all e-closing in the U.S. have been on a Quicken Loans mortgage.
Employing more than 17,000 full-time workers in Detroit, Quicken Loans and its family of companies have closed nearly half a trillion dollars of mortgage volume across all 50 states from 2013 to 2018.