A Few Changes At The Top Of Quicken Loans

Quicken Loans, the country's second-largest retail home mortgage lender that closed nearly $300 billion of mortgage volume between 2013 and 2016, has a new chief executive officer.

The Detroit-based company announced the promotion of three members of its leadership team.

Quicken Loans' longstanding CEO Bill Emerson will transition to the role of Vice Chairman of Rock Holdings, Quicken Loans' parent company. Emerson directly contributed to Quicken Loans' growth over the years and helped transform the company to become the world's largest online lender.

Emerson will continue providing guidance to Quicken Loans, but under his new position the executive will become a greater advocate for the mortgage industry and lead the growth of the culture across the entire Rock Holdings portfolio.

Emerson's Replacement

Jay Farner, a 21-year veteran at Quicken Loans, was promoted from the company's President and Chief Marketing Officer to CEO.

Farner will replace Emerson and oversee all aspects of Quicken Loans' business with a focus on Fintech.

Finally, Bob Walters, Quicken Loans' Chief Economist, will maintain his current title and will simultaneously serve as President and Chief Operating Officer.

"For nearly all of Quicken Loans' 31 year history, Bill, Jay and Bob have been at the forefront, driving our strategy and culture," said Dan Gilbert, Chairman and Founder of Quicken Loans. "Their passion and absolute dedication to growing our team members has been instrumental in our company becoming the leader in technology, innovation and client service."