Quicken loans company report
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Transcript of Quicken loans company report
Financials
• Revenue: $3.6 B as of Oct. 2014
• Closed $80 B in loans 2013
• Doubled its workforce 2012-2013
History
• 1985 - Founded by Dan Gilbert
• 1991 - Bought by Intuit for $532M
• 2002 - Gilbert purchased Quicken Loans subsidiary back for $64 M
• 2010 - Moved HQ to Detroit with 1700 team members
• 2011 - Set record $30 B in closing loans
• 2012 - Broke record with $70 B
Secret Sauce
• Startupish company culture in mortgage industry
• Lots of interns + efficient training = cheap labor
• Innovation in lending and up to date in latest tech!
• Paperless/Online loan process (~30 day completion from 3-6 months!)