J.D. Power and Associates Ranks Detroit-based Quicken Loans Inc. Highest U.S. Home Lender for Customer Satisfaction for 2nd Consecutive Year

Clients rate nation’s leading online mortgage lender highest among its peers

Detroit, MI – November 18, 2011 – (RealEstateRama) — Detroit-based Quicken Loans Inc., the nation’s largest online lender and a top-five retail mortgage originator, announced it ranked highest in “customer satisfaction” among all home loan lenders in the United States for the second consecutive year in a benchmark study of mortgage origination by J.D. Power and Associates, the global marketing information services company.

Quicken Loans, which serves clients in all 50 states from its centralized web lending centers in Michigan, Ohio and Arizona, is on pace to break a company record of $29 billion in closed home loan volume set in 2010.

According to the J.D. Power and Associates’ study, Quicken Loans far exceeded the industry average on a number of key performance indicators, receiving the highest score in three key factors of the study:

• The mortgage application and approval process (quality and convenience)
• Loan representative (product knowledge, responsiveness and client courtesy)
• The mortgage closing experience (ease, speed and service)

“We have built something extraordinary at Quicken Loans,” said Quicken Loans Founder and Chairman Dan Gilbert. “Being the greatest in our industry in client satisfaction for the second straight year shows the incredible effort and dedication our over 5,200 innovative and highly motivated team members bring to work with them each and every day. Our talented brain force, coupled with our technology and process-driven home lending platform, sets a new and increasingly higher standard when it comes to speed, scalability, and an experience that is engineered to amaze.”

According to J.D. Power, there is a clear relationship between a lender’s ability to deliver a superior customer experience and the relative impact on higher loyalty, retention and advocacy.

“To receive the J.D. Power Award once is an incredible achievement,” said Quicken Loans CEO Bill Emerson. “To repeat this accomplishment is a testament to our commitment to providing the best possible service to our clients over and over again, while closing record volumes.”

In the past 15 months Quicken Loans has made national news by moving 3,700 team members to downtown Detroit, all part of the company’s “Detroit 2.0” initiative to create a dynamic and technology-focused urban core.

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About J.D. Power and Associates:
Headquartered in Westlake Village, Calif., J.D. Power and Associates is a global marketing information services company operating in key business sectors including market research, forecasting, performance improvement, training and customer satisfaction. The company’s quality and satisfaction measurements are based on responses from millions of consumers annually. For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. J.D. Power and Associates is a business unit of The McGraw-Hill Companies.

About Quicken Loans Inc:
Quicken Loans Inc. is the nation’s largest online retail mortgage lender and among the five largest overall retail home lenders in the United States. The company closed its 1 millionth loan and a record $29 billion in retail home loan volume across all 50 states in 2010. Quicken Loans generates loan production from five web centers located in Detroit, Ohio and Arizona. The company also operates a centralized loan processing facility in Detroit, as well as a San Diego-based One Reverse Mortgage unit. Quicken Loans ranked #1 in customer satisfaction among all home mortgage lenders in the United States by J.D. Power and Associates in 2010 and 2011. “QuickenLoans.com” has been named “Best of the Web” by Forbes and Money magazines. The company also has been named to FORTUNE magazine’s list of the country’s “100 Best Companies To Work For” eight consecutive years, ranking as high as #2, and named in the Top-15 of Computerworld magazine’s “100 Best Places to Work In Technology” for seven years in a row. Quicken Loans ranked #1 in the Detroit Free Press’ ‘Best Places to Work in Michigan’ List in 2010 and 2011. The company has moved its headquarters and 3,700 team members to downtown Detroit. For more information about Quicken Loans, please visit us on the web at www.quickenloans.com, on Twitter at @QLnews, and on Facebook at www.facebook.com/QuickenLoans.