Quicken Loans is the biggest revenue generator in the business empire of Dan Gilbert, and since the firm moved its headquarters to Detroit from Livonia in 2010, profits from and investments by Gilbert's enterprises have helped to speed Detroit's revitalization - especially downtown. Usually this time of year there is a natural slowdown … but this year, we really aren’t seeing that."Ī healthy Quicken Loans is ordinarily good news for Detroit. “It absolutely will be a record," Bob Walters, Quicken's president and chief operating officer, said Tuesday in a phone interview.
That result would shatter the company's previous volume record of $96 billion set in 2016. Mortgage giant Quicken Loans, one of Detroit's biggest employers, says that 2019 will go down as the best year in its history for overall volume of home loans.ĭriven by lower interest rates that pushed more consumers to refinance their mortgages, Quicken Loans is on pace to originate more than $140 billion in mortgages for the year.
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