Quicken Loans Business Analysis

The banking industry has undergone major upheaval in recent years, largely due to the lingering recessionary environment and increased regulatory environment. Many banks have failed in the face of such tough environmental conditions. These conditions

According to JPMorgan Chase website, from the beginning, they have contributed to business, society and world affairs. They pride themselves on their reputation and employees. They consider their employees “most valuable assets”. JPMC’s mission are to

According to Dan Gilbert, the mission at Quicken Loans, “we’re on a never-ending quest to find a better way for everything we do, everything we touch and everything we see. We don’t settle for less because it’s not in our DNA to accept anything less than amazing. It’s a key priority – an obsession. That’s why we created our ever-expanding set of ISMs, which are our foundation and the philosophy we live by. They’re who we are, more than what we do. (Gilbert)

The operator of this website, LendYou.com is not a lender but a loan broker with a large network of authorized lenders. LendYou.com is an advertising referral service to qualified participating lenders that are able to provide payday loan amounts between $100 and $1,000 in cash advance loans and up to $5000 for installment loans. Not all creditors can provide these amounts and there is no guarantee that you’ll be accepted by an independent participating lender. The service does not constitute an offer or in any way a solicitation for payday loan products that are prohibited by any state law. LendYou.com do not endorse or charge for any service or product. Any payment received is paid by participating creditors and only for advertising services

Ginnie Mae, Frannie Mae, and Freddie Mac were U.S. government agencies that guaranteed various types of mortgage loans. They allowed mortgage lenders to obtain a better price for their mortgage loans in the securities market. Lenders used the proceeds to make new mortgage loans available.

Weak online shopping facility: The Company is relatively new in online selling and need improvement in this regards.

Home potential buyers have a number of different jumbo loan programs to choose from. Like traditional mortgage loans, jumbos allow borrowers to secure a true quantity of different fixed-rate or adjustable-rate home loans. (To find out more on the dissimilarities between fixed-rate and adjustable-rate mortgages.

The four perspectives in a balanced scorecard are, financial perspective, internal business process perspective, customer perspective, and learning and growth perspective. In the financial perspective area of Quicken Loans starts with them being a for-profit organization. In the financial perspective one of the main interests is shareholders interest. When looking at the shareholder’s interest there are two different categories they look at, revenue growth and productivity objective. To grow revenue of Quicken Loans they would have to work on developing new revenue sources by tapping into different markets. Along with that they should also be improving current profitability by increasing their profits from their current clients. On the other side, there is productivity objectives which are completed by the employees. This area of the financial perspective focuses on decreasing costs and resource optimization.

Real estate finance in the modern community is changing the perspective of modern lending and purchases. It is a means to contemporary community’s ability to develop a foundation for discussing the nature and means of public spending and purchase. As a self-government sponsored agency, Federal National Mortgage Association (FNMA) also known as Fannie Mae works with the ultimate responsibility of lending and buying secondary mortgages in the market (Oesterle, 2010). It helps in the conservation of interest rates in the real estate business in the contemporary community. There is also the need for focusing on the impacts of the Fannie Mae on real estate finance. The approach of the Fannie Mae helps lenders to use the money gained from the secondary

Gilbert along with CEO Bill Emerson “spent a lot of a time and energy instilling a very particular work ethos into employees.” (Segal, 2013) The organization bases their corporate culture with their “17 isms”, which are used in place of company mottos and mission statements. (Salinger, 2007) “Isms” is defined as “the ideals we live by at Quicken Loans and at every one of our family companies. They have a lot more to do with who we are than what we do”. (Our Isms, n.d) (See Appendix A) These “17 isms” have guided the creation of culture at this organization.

As a loan company, the main intention would be to profit, as their targets are people with expenses they cannot afford. Falling behind on your payments is as easy as digging a hole, one that takes a long time to get out of.

I’ve primarily had a Customer Service background, working for Chase Bank as a Teller, then Verizon for a couple years as a Customer Service rep. From there, I began my journey with Quicken Loans in 2012.

3.) Strong presence in high margin health services business. In addition to UnitedHealth Group’s leadership position in the health benefits market segment, UnitedHealth Group has strong information and technology based health services platform through its business segments which is Ingenix, OptumHealth and PrescriptionSolutions. The “CNN MONEY” (2012) website states Ingenix is one of the largest health information, technology and consulting companies in the world. The UnitedHealth Group derived $2.3 billion of revenues from Ingenix which contributed $284 million (excluding $200 million in goodwill impairment and business line deposition charges) of operating profit, and an operating margin of 12.1% during FY2010.

Waterside Mortgage is a mortgage brokerage firm that is located in Atlanta, Georgia. They are helping families in Georgia. Waterside Mortgage assists their customers in finding their ideal mortgage. This mortgage lending agency paves the way towards obtaining the right loan program suited for their customers. Waterside Mortgage aids their clients in the big tasks such as buying a new home and refinancing their client’s mortgage. This mortgage brokerage company is an Equal Housing Lender.

These are strike years so we will ignore them. In 1994, ROE is less than that of last three years. Overall its not good sign, but its explanation will be given in upcoming ratios.