Quicken Loans announced Thursday it surpassed Wells Fargo & Co WFC in fourth-quarter retail mortgage volume to become the largest residential mortgage lender in the United States.
Quicken recorded 25 billion retail mortgages, while Wells Fargo posted 23 billion, Bank of America Corp BAC 13 billion and JPMorgan Chase & Co. JPM’s Chase just 11 billion.
The 33-year-old company topped nearly 30,000 lending peers, including commercial banks, savings and loans, credit unions and mortgage brokers and bankers.
“Achieving the No. 1 market share of all mortgage lenders is an exciting accomplishment, but we are even more inspired that we reached this significant milestone, while at the same time delivering the best client experience in the nation for the last eight consecutive years and running,” Dan Gilbert, founder and chairman of Quicken Loans, said in a press release.
He’s referencing the firm’s 12 J.D. Power awards, including eight accolades for client satisfaction.
Quicken will seek to expand its market share Sunday through its second Super Bowl commercial for Rocket Mortgage, which will also run an update coinciding with the ad.
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Photo courtesy of Quicken Loans.
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