twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from

Mortgage News Reprints
Put entire stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed stories free on your Web site or for your RSS reader.

News Archives
Archive of stories by month going back to 1999.

Press Releases
Reports and announcements from

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News


Mortgage News

HOT Topics









site map
Origination News | Lender Ranking | Fundings by Lender | Statistics
Quarterly residential mortgage production by lender. Subprime, Alt-A, home equity and conforming originations. Volume by quarter since 2003.

Quicken Suspends Origination Reports

Estimated Q3 production $9.0 billion

Oct. 18, 2010

By staff

Quicken Loans Inc., which saw its origination ranking fall last quarter, is fed up with being compared to mortgage lenders that also originate loans from mortgage brokers and correspondent lenders. So the retail lender said it will stop reporting origination data. Except when it has a record month.

Quicken's residential production ranking deteriorated to No. 10 in the second quarter from No. 9 in the first quarter based on data compiled by Mortgage Daily. The second-quarter title was shared with MetLife Home Loans -- which wasn't on the top-10 list during the prior period.

Detroit-based Quicken declined Mortgage Daily's request for third-quarter production data.

"We recently made the decision to suspend providing quarterly origination data for use in listings of top residential lenders," Quicken Loans spokesman Aaron Emerson said in a statement. "As you know, we have very strong feelings about the compilation of residential vs. retail lists."

But the lender wasn't shy about boasting a record September.

An Oct. 14 announcement indicated that last month's originations totaled 15,500 loans for $3.4 billion, improving from a record 14,000 loans funded for $3.15 billion in August.

Based on an analysis of reported production for the second quarter, August and September -- estimated third-quarter originations were around $9.0 billion. The prior period's production was $5.1 billion, while $4.1 billion was originated a year earlier.

Quicken reported that nearly three-quarters of its monthly business was processed within 28 business days.

Quicken Founder and Chairman Dan Gilbert noted in the statement that the company's "brainforce" stands at more than 4,000.

During the first three quarters of 2010, Quicken closed around $19.1 billion in home loans. Full-year production is projected to jump from $25 billion last year to $30 billion this year -- suggesting around $11 billion in fourth-quarter volume.

In 2009, government originations at the online lender were 42,000 loans for $7.5 billion. This year, 45,000 government mortgages for $8 billion are projected.

Quicken Loans profile

next story

back to current headlines

Corporate Mortgage News
M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.

Logout forgot

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders