Press Release
June 29, 2010
Quicken Loans Licenses Software from Response Analytics to Support Progressive Business Growth Strategy
Mortgage Asset Management Tools Add Functionality and Scalability
SCOTTSDALE, Ariz. – June 29, 2010 – Response Analytics, Inc., a leading Financial Services Optimization (FSO) company, announced today that Quicken Loans Inc. has licensed Response Analytics’ Mortgage Asset Management solution. Quicken Loans will utilize the software to support its workflow for managing residential loans. Quicken Loans, a 50-state, direct-to-consumer retail mortgage lender with more than 3,000 team members, is the nation’s largest online retail mortgage lender and the fifth largest retail mortgage lender overall. Response Analytics was selected from a field of competitors based on its innovative “single platform” approach.
Response Analytics’ software will be used by Quicken Loans to provide speed, efficiency and actionable strategies in evaluating how to maximize the value of the loans it reviews for business partners.
“Response Analytics’ software will be very useful in helping us continue to evaluate our partners’ portfolios, while ensuring we continue to maintain the efficiency that has been the hallmark of Quicken Loans,” said Bill Emerson, CEO of Quicken Loans.
Response Analytics’ Mortgage Asset Management solution helps financial services companies interested in acquiring and managing residential whole loans to:
- Interface with numerous data sources, models, internal systems and external fulfillment services, creating a single platform for monitoring and reporting.
- Develop unique analytic insights from client data for use in proactively managing portfolios and improving asset performance.
- Provide robust reporting capabilities which meet reporting requirements for investors across funds, investors and pools.
“The selection of our solution by Quicken Loans validates the growing recognition that the new realities of today’s markets require new solutions,” said Brent Lippman, chief executive officer of Response Analytics. “New solutions that not only utilize the investments companies have made in models, data and systems, but also weave these disparate pieces together to provide business value and speed.”
About Quicken Loans Inc.
Quicken Loans Inc. is the nation’s largest online retail mortgage lender and the fifth largest overall retail home lender in the United States. The company closed more than $25 billion in retail home loan volume across all 50 states in 2009. Quicken Loans employs more than 3,000 full-time team members and generates loan production from five web centers located in Michigan, Ohio and Arizona. Quicken Loans also operates a centralized loan processing facility in Michigan as well as its San Diego-based One Reverse Mortgage unit. “QuickenLoans.com” has been named “Best of the Web” by Forbes and Money magazines. Quicken Loans has been named to Fortune magazine’s list of the country’s “100 Best Companies To Work For” seven consecutive years, ranking as high as #2. Quicken Loans has also been named in the top 15 of Computer World magazine’s “100 Best Places To Work In Technology” for six years in a row. Quicken Loans will be moving its headquarters and 1,700 full-time team members to downtown Detroit in the summer of 2010. For more information about Quicken Loans, visit www.quickenloans.com.
About Response Analytics
Response Analytics, Inc. is a leading Financial Services Optimization (FSO) company that solves mission critical issues and evolving business challenges, using best-in-class software innovations. Response Analytics’ software is helping answer what is perhaps the financial industry’s most urgent issue – extracting more value from real estate assets while providing sustainable technology options to minimize risk. Unlike other applications or approaches, Response Analytics provides an integrated platform approach which integrates data and models from multiple systems in order to provide speed, scalability, transparency and consistency. For more information visit us on the web at www.responseanalytics.com.
Contact:
Tim Manning
Tim.Manning@responseanalytics.com
480-429-4480 Ext. 118
