At a time when mortgage rates are low, refinancing interest is high and real estate markets are recovering, the irony is that most banks remain uber-conservative when it comes to lending. In fact, many consumers find it a "tortuous" experience when applying to a bank for a home loan of any kind, a recruiter observes. Thus, it's no surprise that an independent mortgage lender like Quicken Loans is looking to grow at this point in time, particularly given its online capabilities.
The Detroit-based firm now says it plans to add an additional 200 team members to its Scottsdale, Arizona-based Internet Web lending center.
Recruiter Richard Lipstein says that makes perfect sense, especially "if Quicken will offer a more efficient way of getting a mortgage at a time when the real estate market is picking up and buyers and sellers are more in equilibrium."
"This is capitalism at its best," says Lipstein, who recently rejoined the firm of Gilbert Tweed International on Madison Avenue. Lipstein went through the mortgage process himself earlier this year, and he reports that banks “are still making it very unpleasant to purchase a mortgage these days.”
Quicken is chaired by Dan Gilbert of Rock Ventures LLC. Gilbert is also majority owner of the NBA’s Cleveland Cavaliers, the NBA Development League’s Canton (Ohio) Charge, the American Hockey League’s (AHL) Lake Erie Monsters and the Arena Football League’s (AFL) Cleveland Gladiators, as well as the operator of the Quicken Loans Arena in Cleveland, Ohio.
The company, which employs more than 5,000 people nationally and calls itself the nation's largest online home lender and the fourth largest retail mortgage lender of any kind, earned the highest ratings for customer satisfaction among all U.S. home loan lenders in a study by J.D. Power and Associates in 2010 and 2011.
What positions are available
The new Scottsdale-based positions are in mortgage banking, mortgage operations and underwriting, Quicken announced, noting that adding the Scottsdale center has seen loan volume more than double in 2012 compared to this time last year.
To accommodate its continued growth, the Scottsdale Web center is expanding its current 40,000 square foot office to 60,000 square feet.
“The amount of calls we've received from clients looking to take advantage of record low mortgage rates and improve their financial situation has been incredible,” Matt Stoffer, Quicken Loans Vice President and leader of the Scottsdale location, said in making the announcement last week.
Non-corporate, philanthropic culture
"Quicken Loans is looking for passionate people who fit well in a company culture that is anything but corporate. This is a great opportunity to become a part of a growing company in which people love coming to work,” Stoffer added.
The announcement emphasized that the Scottsdale team has a philanthropic culture with a company philosophy that encourages giving back to the community, volunteering nearly 800 hours to charitable organizations in 2011, including Phoenix Rescue Mission, St. Mary's Food Bank and the Pat Tillman Foundation.