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Quicken Loans Launches Innovative Loan Originations Platform

ups-and-downs-graphAs the mortgage lending industry moves into the future, the next clear step for most lenders is to fully embrace next-gen tech solutions that will allow borrowers to complete their loan originations completely online.

This Christmas, Detroit-based Quicken Loans is making that wish a reality with the introduction of Rocket Mortgage–a Quicken Loan platform that allows borrowers to complete the entire lending process online.

The product is the brainchild of 500 developers, designers and technicians based in Quicken’s hometown of Detroit.

The tool allows borrowers to complete the lending process on a mobile, laptop or desktop, ensuring a smooth process from the comfort of one’s office or home.

“Quicken Loans has been the clear leader in mortgage technology for almost two decades. We changed the mortgage industry when we created the first 50-state online retail lending platform that has since helped millions of Americans achieve their home financing goals, while experiencing the best client service in the nation,” said Bill Emerson, Quicken Loans Chief Executive Officer. “Today, we took another monumental leap forward with the launch of Rocket Mortgage, which brings simplicity and clarity to the home loan process like never before, while delivering solutions at unimaginable speed.”

Rocket Mortgage even allows borrowers the opportunity to sign loans online using the program’s own e-signature capabilities. Not to mention, it gives clients the ability to view credit reports in real time, while importing and verifying income and asset information.

Approvals also occur within a matter of minutes whether a borrower is ordering an FHA, VA or conventional mortgage, Quicken says.

Borrowers who use the platform can also lock down interest rates with a simple keystroke.

“Rocket Mortgage simplifies the largest, most complex and important financial transaction most consumers experience in their lifetime,” said Linglong He, Quicken Loans Chief Information Officer. “Our team at QL Labs has worked tirelessly to ensure that Rocket Mortgage users have the same award-winning experience that has made Quicken Loans an eight-time J.D. Power top-rated mortgage lender for client satisfaction. This is one of the biggest breakthroughs in financial technology history, born and built in downtown Detroit,” he added. “The team effort to get this off the ground was extraordinary.”

About Author: Kerri Panchuk

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