DETROIT — A low buzz fills the air as a army of home loan bankers, perched below floating canopies in a kaleidoscope of vivid pinks, blues, purples and greens, works their phones, guaranteeing borrowers simple funding and low prices for mortgage loans.
Because of the elevators, no body blinks whenever a worker putting on a red tutu bustles past. A company mascot, Simon, a bespectacled mouse, goes on the hunt for “gouda, ” or good ideas, from the workers on any given day.
A trip to your head office of Quicken Loans in downtown Detroit might appear like a visit up to destination where “Glengarry Glen Ross” meets Seussville. Nevertheless the whimsical, irreverent environment sits atop a fast-growing business in an industry — the selling for the American dream — which has changed drastically since an early on generation of mortgage brokers propelled the economy to near collapse in 2008 by issuing dangerous, also fraudulent loans.
Into the years because the crisis, lots of the nation’s largest banks pulled back their mortgage-lending tasks. Quicken Loans pushed in. Today, it is the second-largest retail mortgage company, originating $96 billion in mortgages a year ago — an eightfold increase from 2008.
Independently held Quicken, like a number of America’s biggest banks before it, has additionally landed in regulators’ cross hairs. (więcej…)