July 30, 2016 10:33 PM ET

Thrifts and Mortgage Finance

Company Overview of Quicken Loans Inc.

Company Overview

Quicken Loans Inc. operates offers retail mortgage lending solutions online in the United States. It offers mortgages and home buying programs such as refinancing options. The company provides adjustable-rate mortgages, fixed-rate mortgages, fixed-rate VA loans, VA adjustable-rate mortgages, jumbo loans, reverse mortgages, and others. It serves veterans, service members, and their families through iPhone and Android applications. The company was formerly known as Rock Financial Corp. and changed its name to Quicken Loans Inc. in December 1999. The company was founded in 1985 and is based in Detroit, Michigan. It generates loans through its Web centers in Detroit, Michigan; Cleveland, Ohio; a...

1050 Woodward Avenue

Detroit, MI 48226

United States

Founded in 1985





Key Executives for Quicken Loans Inc.

Chief Executive Officer
President and Chief Marketing Officer
Founder and Chairman of the Board of Directors
Age: 54
Chief Financial Officer and Treasurer
Chief Economist and Vice President of the Capital Markets Group
Compensation as of Fiscal Year 2016.

Quicken Loans Inc. Key Developments

Verizon Reportedly Close To Acquire Yahoo

Verizon Communications Inc. (NYSE:VZ) has emerged as the most likely buyer of Yahoo! Inc. (NasdaqGS:YHOO). The deal is expected to announce in the next few days, Bloomberg reported citing people familiar with the matter. It is believed that Verizon Communications Inc. is discussing a price close to $5 billion for Yahoo! Inc's core internet business. The deal includes real estate assets but not patents at this stage. The non-core sale of intellectual property assets will be sold separately. AT&T, Inc. (NYSE:T), Quicken Loans Inc. founder Dan Gilbert, as well as Vector Capital Management and TPG Capital, L.P were also active in the bidding process until the end. Yahoo hasn’t told other parties they are out of the process. An agreement would end a months-long bidding process. A representative for Verizon Communications Inc. declined to comment and for Yahoo! Inc. couldn’t immediately be reached for comment. Yahoo shares were up 0.9% to $39.21.

Verizon, AT&T Reportedly In The Final Round For Yahoo's Assets

Verizon Communications Inc. (NYSE:VZ) and AT&T, Inc. (NYSE:T) are expected to reach the third and final round of bidding in the auction for core Internet assets of Yahoo! Inc. (NasdaqGS:YHOO), Reuters reported citing people familiar with the matter. A consortium led by Quicken Loans Inc. will also make it through to the final round, the people added. Some private equity firms that had made it through to the second round will not be invited to submit third-round bids, another of the people said. One of the people said that after holding a Board meeting to review second-round offers, Yahoo will start reaching out to bidders as early as June 13, 2016, to notify them whether they will make it to the next round. Yahoo expects to conclude the auction by July 2016, according to one of the people. Yahoo, Verizon and AT&T declined to comment. A Quicken Loans’ spokesperson did not immediately respond to a request for comment.

Freddie Mac Announces Partnership with Quicken Loans

Freddie Mac and Quicken Loans have announced partnership to make home financing accessible for new buyers. The program will feature unique, co-developed products to meet the needs of emerging markets, including millennials, first-time homebuyers and middle-class borrowers. It will explore numerous modifications and expansions to Freddie Mac's current Home Possible mortgage products, and will also include continued homebuyer education.

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