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Best Mortgage Employers

Annual ranking has five mortgage-related firms among top 100 overall

Jan. 20, 2014

By Mortgage Daily staff

Five mortgage-related companies have been ranked among the hundred best employers in the country. The highest ranking among mortgage-related firms was the third biggest lender in the country.

No. 96 on FORTUNE's 100 Best Companies to Work For -- and the fifth highest ranking mortgage-related employer -- was Navy Federal Credit Union, up from No. 56 in the previous ranking. There were 9,735 employees as of June 30, 2013, at Navy, which was founded in 1933.

The Vienna, Va.-based financial institutions, which generates $3.7 billion in annual revenues, was cited for offering job security with no layoffs and low loan rates.

FORTUNE based its ranking on surveys of employees at firms at least five years old with more than a thousand employees.

Capital One was the 85th highest rated employer among all industries, improving from No. 87 in the previous ranking. Capital One generates $21.4 billion in annual revenues and employs 40,252 people.

FORTUNE said that McLean, Va.-based Capital One was "so great" because its university offers 2,084 instructor-led courses and 1,668 virtual classroom sessions.

Next was Umpqua Bank, which has a staff of 2,397 employees and reports $551 million in annual revenues. The Portland, Ore-based firm slipped from its previous ranking of 55.

"In 2014 the company will acquire Spokane-based Sterling Bank for $1.8 billion, which will double the number of Umpqua stores and associates," FORTUNE said.

Coming in at No. 17 was USAA. The 25,143-employee firm generates $20.7 billion in annual revenues. It ranked 40th in the last report.

USAA Federal Savings Bank last reported originations to Mortgage Daily for 2010, a year that it closed $16.7 billion in mortgages.

"This insurer's mission of serving military and veteran families animates the 17,000 employees at the city-within-a-city headquarters, with more office space than the Pentagon," FORTUNE stated. "Former military families fill the employee ranks: Since 2005, USAA has hired more than 8,200 vets and spouses."

No. 5 on the overall list -- and the highest ranking mortgage-related employer -- was Quicken Loans Inc.

The Detroit-based company's headcount was reported at 8,386, though it has recently reported to Mortgage Daily that staffing stood at 10,000.

"The mortgage lender is intent on reversing brain drain from Michigan," FORTUNE said. "A recent job fair in downtown Detroit attracted 2,500 applicants for 500 jobs. It also partnered with area businesses to offer incentives to employees willing to move to the city, including $20,000 in forgivable home loans."

In its own announcement, Quicken said it has ranked among the top 30 on FORTUNE's list for 11 consecutive years. It was No. 13 in the last report.

Quicken said it was the third-biggest mortgage lender in the country last year with $80 billion in originations. While Quicken didn't report annual revenues, it did say that its $138 billion servicing portfolio made it the 11th-biggest servicer.

"Quicken Loans’ culture goes far beyond its storied bright colored offices and fun, collaborative work environment," Quicken said. "The company's team members consistently express an appreciation for the inclusive and creative culture, nurtured by leaders who encourage them to innovate without fear of failure along the way."

Quicken's headquarters in Detroit has been said to be modeled after Google's, which ranked No. 1 on FORTUNE's list overall, the same as in the last report. Google's headcount is 42,162.

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