NMP - December 2016 - 38


NMP's

uicken Loans began
operations in 1985
under the name
Rock Financial.
Over the years, it
has challenged preconceived notions governing
business operations-most notably in
2010 when it moved its corporate
headquarters to downtown Detroit, a
location that few companies
considered to be viable. The
company also took a trailblazing
leadership role in digital mortgage
transactions, culminating with the
successful launch of its Rocket
Mortgage product, which became
the center of industry and media
attention with an audacious television
commercial broadcast during 2016's
Super Bowl 50. The company has
also raised customer service to new
levels, as witnessed in multiple J.D.
Power Awards for customer
satisfaction in both its origination and
servicing endeavors.
National Mortgage Professional
Magazine spoke with David
Schroeder, vice president and the
Charlotte, N.C. site leader for
Quicken Loans Mortgage Services,
about the company's approach to
business.

Q

What makes Quicken Loans
different from its retail
competitors?
David Schroeder: Our obsession
with making financial services
radically simple. As someone who
has been with Quicken Loans for
five years, what I find refreshing and
energizing is the all-important focus
on doing right by the client. If there
is a social media complaint, it is
everybody's responsibility to do
something-from the top echelon
on down. Everything matters when
it comes to the client experience in
doing the right thing.
What makes Quicken Loans
different from its wholesale
competitors?
David Schroeder: It starts with the
people. We're in Charlotte, and for
the second year in a row, we won
the award for Charlotte's "Best
Place to Work" in a large company.
A passionate purpose to serve our
partners-not just slushy machines
and bright colors in the office-is
what makes us stand out.
What does the company look for
in potential employees?
David Schroeder: It always starts

with passion-an inner fire and a
pronounced enthusiasm for what
we're doing. We also look for
integrity-people who are dedicated
to doing the right thing. There are
hundreds of things going on with
any given loan. Doing the right
thing when nobody is looking is
what builds a business that stands
the test of time-and Quicken will be
here for the long-term.
In our account executives, we
also look for people with experience
in the industry. This can be
experience in related fields, such as
people who were formerly brokers
and underwriters. Their experiences
are unique and valuable, and we
appreciate the value they provide in
helping to build our partner's
business every day.
What is it like to have a company
with headquarters in Detroit, a
city with more than a few
challenges going on?
David Schroeder: As I stated, I am
based in Charlotte, but I go to
Detroit two times a month. I think it
is very exciting to see the
revitalization and greatness of the
Motor City. We had a partner event
there recently, and when you invite

L

people to Detroit, some may have a
feeling of, "Gosh, I wish we went to
Malibu or some exotic place." But in
going to this event, people were
amazed by the energy level and
beauty of the city and enthusiasm of
city residents and our team members.
Quicken Loans recruits people who
move from outside of Michigan to
work and live in Detroit to be part of
something bigger than themselves.
What is your forecast for the
industry now that interest rates are
poised to rise with more regularity?
David Schroeder: If you look at the
Mortgage Bankers Association
forecast, you see that refinancing is
projected to be down 40 percent for
year. Thus, in that part of the business
every deal become more important.
Partnering with the right wholesale
lender becomes more and more
important.
On the purchase side, during the
last spike in 2013, a lot of people were
caught flat-footed. We see the
purchase market consistently growing
over time. This is a relationship-based
business development, so we need to
help our partners build better Realtor
relations through resources and
confidence in execution-they remain



Table of Contents for the Digital Edition of NMP - December 2016

Contents
NMP - December 2016 - Cover1
NMP - December 2016 - Cover2
NMP - December 2016 - 1
NMP - December 2016 - Contents
NMP - December 2016 - 3
NMP - December 2016 - 4
NMP - December 2016 - 5
NMP - December 2016 - 6
NMP - December 2016 - 7
NMP - December 2016 - 8
NMP - December 2016 - 9
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NMP - December 2016 - Cover3
NMP - December 2016 - Cover4
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