DETROIT – Quicken Loans has a new CEO whose name might be familiar to anyone who has heard the company's commercials.
Jay Farner, who has been with the mortgage lender for more than 20 years and most recently served as president and CMO, is the Detroit-based company's newest chief executive officer.
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Bill Emerson will move from his role as CEO to vice chairman of Rock Holdings, Quicken's parent company, and Bob Walters will be the company's new president and COO.
Here is the news release from Quicken:
Longstanding CEO, Bill Emerson, will immediately transition to the role of Vice Chairman of Rock Holdings, Quicken Loans’ parent company. In his 24 years with the company, Emerson has overseen the growth of the Quicken Loans, which has become the world’s largest online lender. In this newly created position, Emerson will not only continue to provide guidance to Quicken Loans, but will also take an expanded role advocating for the mortgage industry and leading the growth of the culture across the entire Rock Holdings portfolio.
Jay Farner, who has been with Quicken Loans for 21 years, and most recently served as President and Chief Marketing Officer, has been named the new Chief Executive Officer of the company. Farner will oversee all aspects of the business, while continuing to expand Quicken Loans’ leadership position in the FinTech space.
Bob Walters, Quicken Loans’ Chief Economist, will now serve in the dual capacity of President and Chief Operating Officer. Walters, who has spent 20 years at the company, will oversee the day-to-day operations of the business, focusing on strategic planning and leveraging synergies among the various teams at Quicken Loans.
“For nearly all of Quicken Loans’ 31 year history, Bill, Jay and Bob have been at the forefront, driving our strategy and culture,” said Dan Gilbert, Chairman and Founder of Quicken Loans. “Their passion and absolute dedication to growing our team members has been instrumental in our company becoming the leader in technology, innovation and client service.”
Quicken Loans is the nation’s second largest mortgage lender, employing 16,000 team members across the country, with more than 10,000 located within downtown Detroit. The company has been ranked #1 by J.D. Power for client service in mortgage origination for the past seven consecutive years out of the more than 40,000 entities that provide home mortgages across the nation. In addition, J.D. Power has also ranked Quicken Loans #1 in client experience for mortgage servicing the last three consecutive years.
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