As it approaches its one-year anniversary of offering mortgages in partnership withfinancial institutions, Quicken Loans reports that a significantnumber of CUs have opted to use its mortgage platform for theirmortgage lending needs.

Tod Highfield, divisional vice president with Quicken Loans'Mortgage Services division, said roughly 350 community banks andcredit unions have opted to partner with Quicken Loans MortgageServices and that credit unions are among its largest clients interms of mortgage volume.

“We have a few more community banks than we do credit unions,but I will tell you that our credit unions are the ones thatgenerate our largest volumes,” Highfield said. The divisiongenerates between $75 and $100 million in mortgage volume eachmonth and has seen a steady expansion of business with financialinstitutions, he added.

Detroit-based Quicken Loans is best known for its strong retailbusiness which has recently won awards for customer service and hasbecome highly visible for its highly transparent mortgageapplication process, the company said.

Highfield attributed the firm's success with CUs, in part, toits ability to carry that process and its customer service from itsretail operation to its financial institution business.

“We have the goal of making sure that a loan officer in apartner credit union has the same information, if not moreinformation, about that loan application as the retail borrowerwould have,” Highfield said.

“We want that loan officer to be able to provide in the name ofthe credit union with the same levels of customer service andinformation that we would provide if he or she were our retailcustomer,” the Quicken Loans executive said.