Our History

Our History

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1985

Dan Gilbert founded Rock Financial in 1985, which would become known as Rocket Mortgage

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1993

$1 billion in annual closed loan volume for the first time. In 2020, Rocket Mortgage closed $320 billion in mortgage volume.

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1996

Pioneered Mortgage in a Box, the precursor to today’s dominance online through a centralized model.

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October 1997

Rock Financial became affiliated with title insurance company, Title Source Inc. (now known as Amrock), to help support its residential lending business.

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May 1998

Dan Gilbert took Rock Financial public, launching a successful IPO underwritten by Bear Stearns, Inc. and Prudential Securities.

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January 1999

Initially a branch-based lender, the company launched Rockloans.com in January 1999, which quickly positioned it as one of the fastest growing online direct mortgage lenders on the Internet.

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December 1999

Intuit Inc. (makers of market-leading software TurboTax and QuickBooks) purchased Rock Financial. The company was renamed Quicken Loans.

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January 2002

The company introduced the first fully electronic mortgage application process – allowing consumers to electronically review and sign documents.

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August 2002

Placed on Fortune’s prestigious “100 Best Companies to Work For” list for the first time. As of April 2021, the company has ranked in the top one-third of the list for 18 consecutive years.

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December 2003

Dan Gilbert led a small group of private investors in purchasing the Quicken Loans Inc. subsidiary back from Intuit. The company retained all Quicken Loans branding and marketing initiatives.

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August 2004

The company launched QuickenLoans.com for the first time. The newly redesigned site gave consumers more tools and greater functionality to explore their mortgage options, apply for a loan online and calculate payments.

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2008 & 2009

During the turmoil in the mortgage industry in 2008 and 2009, Quicken Loans was able to grow its market share significantly, due in large part to the company’s past refusal to originate sub-prime mortgages.

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May 2010

Rocket Pro TPO, founded as Quicken Loans Mortgage Services (QLMS), was created to serve the needs of mortgage brokers, community banks and credit unions.

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August 2010

Quicken Loans moved its headquarters to downtown Detroit.

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November 2010

Quicken Loans received its first J.D. Power award for client satisfaction in mortgage origination. To date, the company has earned 19 total J.D. Power awards – eleven for mortgage origination (2010-2020), eight for mortgage servicing (2014-2021) – the most of any mortgage lender in the history of the report.

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June 2011

Quicken Loans became the first mortgage lender to offer a mobile app.

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End of 2012

The company significantly entered the mortgage servicing business, announcing it had built an $80 billion – and growing – servicing portfolio as of the end of calendar year 2012.

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March 2013

Quicken Loans announced it purchased $34 billion in mortgage servicing rights from Ally Bank.

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July 2014

J.D. Power ranked the company highest in customer satisfaction among home loan servicers. Quicken Loans received the honor in the first year it was eligible and has received the accolade every year since. To date the company has earned 19 total J. D. Power awards – 11 for mortgage origination (2010-2020), eight for mortgage servicing (2014-2021) – the most of any mortgage lender in the history of the study.

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June 2015

Quicken Loans opened the doors of its state-of-the-art technology center in Detroit’s Corktown neighborhood, the company’s first ground-up development.

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August 2015

The company partnered with the Detroit Land Bank on “Rehabbed and Ready” public-private campaign to renovate homes, increase occupancy and bring pricing stability to Detroit’s neighborhoods. To date, 60 homes have been renovated through the program.

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November 2015

Quicken Loans introduced Rocket Mortgage, the first end-to-end completely online mortgage experience. Rocket Mortgage users can go from application to approval and lock their rate online, without having to talk to anyone.

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October 2017

Quicken Loans partnered with the United Community Housing Coalition (UCHC) and eight community development organizations to launch an extensive education effort addressing the pervasive issue of tax foreclosure in Detroit. This door-to-door outreach attempted to reach all 60,000 residential properties behind on property taxes and connect residents at risk of tax foreclosure to resources.

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December 2017

Quicken Loans introduced a new skill for the Amazon Alexa, allowing clients to make their mortgage payment with just the sound of their voice.

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Q4 2017

The company became the nation’s largest residential mortgage lender in the 4th quarter of 2017 – surpassing close to 30,000 lending institutions (commercial banks, savings and loans, credit unions, mortgage bankers, mortgage brokers) across the country.

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October 2018

Quicken Loans and the Rock Family of companies announced a new technology office in Windsor, Ontario. The expansion has allowed the Family of Companies to recruit top talent from Windsor, Toronto, Waterloo and all of Ontario to support the growing need for additional technology talent.

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June 2019

Rocket Mortgage hosted the inaugural Rocket Mortgage Classic, the first-ever PGA Tour event held in Detroit and the most awarded PGA TOUR event of the season.

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Q4 2019

The company became the first mortgage lender with the ability to perform eClosings in all 50 states. It also became the first mortgage lender to complete the mortgage process in Michigan using Remote Online Notarization (RON).

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August 2020

Rocket Companies, parent to Rocket Mortgage and other FinTech brands, celebrated its debut on the New York Stock Exchange as a publicly traded company. Rocket Companies stock began trading under the ticker symbol RKT.

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October 2020

Rocket Mortgage announced its integration with the Mint app by Intuit, creating a fast, simplified home loan experience.

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October 2020

The company launched Rocket Pro Insight, a technology platform that provides real estate agents real-time updates on the status of their clients’ mortgages.

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July 2021

Quicken Loans officially changed its name to Rocket Mortgage since Rocket Mortgage defines what it does best – take a complicated process and make it simpler using technology.

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August 2021

Rocket Mortgage introduces the Detroit Home Loan+ program which offers $2,500 closing cost credit for those buying a primary residence in Detroit, along with financial guidance and homeownership education to residents who are looking for additional assistance.