Quicken Loans has increased its footprint to cover more than $200 billion worth of home loans since 2013, its website says. The lender, which is private, does not release quarterly data. Quicken had $12 billion in 2008 and was generating less than 1 percent of the mortgage market share, according to Inside Mortgage Finance.
Quicken is part of a group of lenders, many of them online only, that substantially grew their footprint in the mortgage lending business as banks have retreated in the wake of the global financial crisis. In early 2014, nonbank lenders became the primary source of new mortgages, and in the time since have increased their lead over credit unions, large banks and smaller traditional loan providers, according to industry data.
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