After breaking its all-time quarterly record for residential loan originations, Quicken Loans Inc. has done it again. The fast-growing lender has also beefed up its staffing and grown its mortgage servicing portfolio.
During the first quarter of this year, the Detroit-based company closed $25.5 billion in home loans, according to operational data supplied to Mortgage Daily.
That was the best quarter for loan originations since Quicken Loans was founded as Rock Mortgage in 1985 by billionaire Dan Gilbert, his brother Gary Gilbert and Lindsay Gross.
Loan production increased from $25.1 billion in the fourth-quarter 2012 and $10.9 billion in the first-quarter 2012.
The mortgage servicing portfolio finished March at $123.3 billion, surging from $80 billion at the end of last year.
As of the end of the first quarter, around 10,000 people were employed by Quicken.
Staffing expanded from more than 8,000 team members as of Dec. 31, 2012.
Headcount exceeded 5,000, as of March 31, 2012.
