Quicken Funds got its start in the mid-1980s as Stone Monetary. The business try bought in 1999 by the Intuit Provided, and you will turned called Quicken Finance. The company is a military-amicable mortgage servicer that’s a premier-volume servicer for Va mortgage loans and you may FHA home loans, one another authorities-supported home loan circumstances to possess manager-occupiers who want to purchase no. 1 homes.
According to the business’s formal web site, Quicken are responsible for approximately “half a great trillion dollars out of home loan volume around the all fifty states” between 2013 and you will 2018.
Exactly how Quicken Money Works
Of numerous mortgage lenders operate given that creditors providing most other mortgage activities such as for instance auto loans, signature loans, an such like. Quicken focuses primarily on mortgages and you can re-finance funds to own mortgages.
Instead of financial institutions you to definitely rely on deposit membership or any other mode from preserving bucks reserves to have home loan intentions, Quicken depends on general financial support (anything that isn’t very that loan candidate concern, however, does affect how business really does team) that’s an online-centered organization in lieu of an in-individual, go-to-the-bank-department operation.