Quicken Loans Concepts

How to Kill a City: The Real Story of Gentrification

by Peter Moskowitz · 7 Mar 2017 · 288pp · 83,690 words

two of Detroit’s biggest development companies, Bedrock and Broder & Sachse. Bedrock, the largest in the city, is owned by Dan Gilbert, the head of Quicken Loans, one of the largest mortgage companies in the United States. And Dan Gilbert is a kind of cheerleader for the new Detroit. In 2010, he

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and regular trash collection, without a consistent or helpful police presence, with hundreds of thousands of foreclosures on bad mortgages (some made by Gilbert’s Quicken Loans), with the persistent threat of water shutoffs from a broke water utility, with blight and bad schools and high poverty. Sure, it’s great that

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. And there are other, less visible ways Gilbert has spread his vision of a bustling, millennial-filled core city. Employees of Compuware (owned by Quicken), Quicken Loans, DTE Energy (Detroit’s main energy company), and a few other companies can get $20,000 of forgivable loans to purchase a home or apartment

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good, there’s no guarantee that Midtown, downtown, or any of Detroit’s other gentrifying tracts will be amenable to anyone but those who make Quicken Loans–level salaries. If the early stages of gentrification in the city are any clue, that’s exactly what’s happening. John Varvatos shoes, bars with

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. It’s unclear exactly how that $150 million was and will be spent, but a good chunk will go toward demolishing homes that Gilbert’s Quicken Loans were partially responsible for making blighted in the first place. Quicken has for years insisted it did not engage in the same practices that led

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the 2000s, only much, much harder. Sixty-eight percent of all mortgages to Detroiters in 2005 were subprime, compared with 24 percent nationwide. Gilbert’s Quicken Loans made some of those loans; others were made by the same banks that demanded Detroit pay them back by slashing city employee pensions during the

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Downtown Detroit,” 2013, http://detroitsevenpointtwo.com/resources/7.2SQ_MI_Book_FINAL_LoRes.pdf. the state gave Gilbert a $50 million tax break: Amy Lane, “Quicken Loans’ Move Tops List of State Tax Incentives Approved by Mega Board,” Crain’s Detroit Business, July 21, 2009. “I’m excited that somebody successful is

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Came Back from the Brink… and Left Most Detroiters Behind,” Mother Jones, July 6, 2015. But an investigation by the Detroit News: Joel Kurth, “Gilbert, Quicken Loans Entwined in Detroit Blight,” Detroit News, July 1, 2015. The project will cost the city of Detroit $261.5 million: Bill Shea, “Detroit Taxpayers to

All the Money in the World

by Peter W. Bernstein · 17 Dec 2008 · 538pp · 147,612 words

in the success of yet another member of the Forbes 400: Internet loans billionaire Daniel Gilbert33, owner of the United States’ largest online mortgage lender, Quicken Loans—a company that he sold for $350 million in 1999 and bought back for $64 million three years later. Gilbert showed an entrepreneurial spirit from

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stock-for-stock transaction worth $532 million. Gilbert emerged with $350 million and also retained his job as head of the new company, now called Quicken Loans. Gilbert says his new owners hardly bothered him during the next few years as the business continued to grow. And he claims that although he

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, just as Gilbert decided it was time to move on (in fact, at his very retirement party), Intuit chief executive Stephen Bennett offered to sell Quicken Loans back to Gilbert for a price that was later set at $64 million. Although the discrepancy between the 1999 purchase price and the 2002 sale

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price looks impressive, Gilbert points out that the deal was good for Intuit, too. Quicken Loans kept Intuit afloat during the dot-com crash, when so many other Internet companies were sinking. Even Intuit’s Bennett said35 that

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Quicken Loans helped it ride out the technology storm. And because Intuit bought Rock Financial with stock, Gilbert says it was able to sell the company back

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make a quick deal, and we were the most logical people to buy it.” In 2006 Gilbert’s net worth was $1.1 billion, and Quicken Loans employees numbered four thousand. But does Gilbert believe he was lucky? “Without sounding hokey, I am one of those people that believes that people who

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Cavaliers NBA team in 2005 for $375 million, says part of the appeal was the raft of opportunities ownership presented—such as renaming the stadium Quicken Loans Arena and having the financial incentives of merchandising and additional business opportunities.*20 But for Gilbert, as for most members of the Forbes 400, a

The Metropolitan Revolution: How Cities and Metros Are Fixing Our Broken Politics and Fragile Economy

by Bruce Katz and Jennifer Bradley · 10 Jun 2013

is happening. The downtown is being transformed by an idiosyncratic urban evangelist, Dan Gilbert, who happens to be the founder of the mortgage lending firm Quicken Loans and the owner of the National Basketball Association’s Cleveland Cavaliers. In 2007 Gilbert moved his firm’s headquarters from suburban Farmington Hills to downtown

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had a strong presence downtown. (In fact, Compuware arguably started the downtown trend by building a fifteen-story headquarters in downtown Detroit in 2002, where Quicken Loans now has space.) A new subculture of entrepreneurial, tech-oriented start-ups, such as Digerati, Detroit Labs, and Stik, has emerged in the shadow of

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to the area and entices existing renters and homeowners to stay and reinvest.103 Based on the program’s success, a group of downtown corporations—Quicken Loans, Blue Cross Blue Shield, Compuware, Strategic Staffing Solutions, Marketing Associates, and DTE Energy—created the Live Downtown Initiative. And, yes, creative individuals and entrepreneurs are

Dark Towers: Deutsche Bank, Donald Trump, and an Epic Trail of Destruction

by David Enrich · 18 Feb 2020 · 399pp · 114,787 words

, and they quickly borrowed $10 million at a very favorable interest rate. On the evening of August 6, 2015, ten Republicans gathered in Cleveland’s Quicken Loans Arena for the party’s first presidential debate. Two months into his candidacy, Trump had amassed a remarkable double-digit lead in early polls. Almost

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Maiden, 131 Project Osprey, 64–67 Publicis, 102–103 Pulp Fiction (movie), 59 Putin, Vladimir, 109, 162, 179, 197, 200, 339, 344 Qatar, 347, 347n Quicken Loans Arena, 277–78 Racism, 124–25, 182 Ramakrishna, Satish, 237, 238–39 Red Army Faction, 26 Reeves, Joshua, 105, 105n Renaissance Technologies, 152–54, 186

The Origins of the Urban Crisis

by Sugrue, Thomas J.

, an outdoor café, music venue, and a popular wintertime ice rink in then downtown’s once forlorn Campus Martius Park. Two major firms, Compuware and Quicken Loans, moved downtown; and their workers patronized a slew of new restaurants, coffeehouses, retro cocktail bars, and other entertainment venues. Major developers, including

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Quicken Loans CEO Dan Gilbert, purchased downtown properties, with an eye toward attracting much more commercial and residential development to a downtown that is still quite empty.

Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies

by Reid Hoffman and Chris Yeh · 14 Apr 2018 · 286pp · 87,401 words

, AWS’s main competitors come from other scale companies like Microsoft, Google, and IBM. Outside of tech, scale can be an even bigger advantage. When Quicken Loans launched Rocket Mortgage, which provides mortgages online with a decision in less than ten minutes, Rocket Mortgage was able to tap into

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Quicken Loans’ consumer marketing expertise—including a Super Bowl ad—to acquire customers, and the company’s existing financial relationships to fund those mortgages. As a result,

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, which would rank it in the top thirty of all mortgage lenders in the country if it was an independent company, and which helped push Quicken Loans’ overall closed loan volume to $96 billion, up sharply from $79 billion in 2015. On the other hand, if a start-up can play the

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ROCKET MORTGAGE RocketMortgage.com Through the Rocket Mortgage website or mobile app, users can upload financial details and get a mortgage loan decision in minutes. Quicken Loans launched Rocket Mortgage in November 2015, Detroit, MI SALESFORCE.com Salesforce.com Salesforce.com provides cloud-based applications for sales, service, and marketing, as well

The Art of SEO

by Eric Enge, Stephan Spencer, Jessie Stricchiola and Rand Fishkin · 7 Mar 2012

the clickable part of a link from one web page to another. As an example, Figure 7-10 shows a snapshot of part of the Quicken Loans home page at http://www.quickenloans.com. Figure 7-10. Anchor text: a strong ranking element The anchor text for the first link in the

The Big Short: Inside the Doomsday Machine

by Michael Lewis · 1 Nov 2009 · 265pp · 93,231 words

harped on the same theme again in January 2004, then again in January 2005: "Want to borrow $1,000,000 for just $25 a month? Quicken Loans has now introduced an interest only adjustable rate mortgage that gives borrowers six months with both zero payments and a 0.03% interest rate, no

The Job: The Future of Work in the Modern Era

by Ellen Ruppel Shell · 22 Oct 2018 · 402pp · 126,835 words

becomes the servant class to the “better educated” or “more talented.” For example, on a visit to Detroit, it was impossible not to notice that Quicken Loans, the nation’s largest mortgage vendor, had all but taken over the city’s financial district. The company’s thousands of young professional employees, many

The End of the Suburbs: Where the American Dream Is Moving

by Leigh Gallagher · 26 Jun 2013 · 296pp · 76,284 words

York City, UBS is said to be mulling plans to return to Manhattan from Stamford, Connecticut, where it moved in the mid-1990s. In 2011, Quicken Loans relocated from suburban Livonia, Michigan, to downtown Detroit. In Philadelphia, venture capital firm First Round Capital moved from suburban Conshohocken to University City. The list