Industry News

Quicken Loans to open Arizona office in 2007

Scottsdale location will employ 400 in mortgage banking

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Web-based lender Quicken Loans Inc. plans to hire 400 people to staff a Scottsdale, Ariz., mortgage lending office that will serve the western United States. The office will open with about 90 workers in 2007, expanding to 400 employees within two to three years, the Arizona Republic reported. Based in Livonia, Mich., Quicken employs 3,700 people in suburban Detroit and is hiring 250 employees per month, the newspaper said. The company already offers loans in all 50 states but is opening an office in Arizona to better serve western time zones. Most of the new jobs in Scottsdale will be in mortgage banking, with additional trainers, human resources and technology positions. On average, the jobs will pay more than $75,000 after one year, the Republic said. The privately held company said it originated $16 billion in home loans in 2005, and is on track to lend $18 billion this year, the Republic reported. Quicken's founder, Daniel Gilbert, is the majority owner of the Cleveland Cavalie...