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| Residential originations have nearly tripled over the past year at retail mortgage lender Quicken Loans Inc.
Second-quarter mortgage production was $7.93 billion, the Livonia, Mich.-based company reported to MortgageDaily.com today. Fundings rose from $6.80 billion during the first quarter and were 193 percent higher than the $2.71 billion originated in the second-quarter 2008. During all of 2008, volume at the online lender was $12.0 billion. Based on total retail and wholesale volume, Quicken — which only originates retail business — ranked as the 14th biggest U.S. residential lender in the first-quarter 2009. The company touts a No. 1 retail ranking. Quicken, founded in 1985, reports 3,000 employees. |
