Quicken Loans Filing Reveals Voting Control and Financials

The Financial Times digs into a regulatory filing released yesterday that shows how voting control will be organized after Quicken Loans completes their IPO; Dan Gilbert, the founder of Quicken Loans, the largest mortgage lender in the U.S., will maintain 79% of the of the voting power in the company; in Q1 Quicken Loans originated $52 billion in mortgage loans, more than double last year, and this resulted in $1.4 billion in revenue and $97 million in profit; in 2019 the company originated $145 billion in loans which was a 75% increase over 2018, with a $893 million profit. Financial Times.