Quicken Clarification

**tkelly1986** · August-10-10, 11:58 AM

With the 1,700 employees in process of moving downtown, I have two quick questions.
1.Is this the total of Quicken HQ employees in Michigan? [[down from 4,000 due to economic downturn)? Or is only part of the HQ moving from Livonia. I found that there are approximatly 2,800 total, but the chart I saw did not break it down between Michiga, Ohio and Arizona.
2.If only part, does Gilbert plan to move the remainder downtown once he builds a “Quicken HQ Building”.

Sorry for the multiple, obvious questions to many. I am currently living out of state and do not have the access some of you do and information online is limited.

**Downtown Lady** · August-10-10, 01:39 PM

I asked a Quicken employee, who said:

1. Only part of the HQ employees are moving from Livonia. Additionally, there are other Michigan locations that are staying where they are [[in Farmington Hills and I think he also said Southfield).

2. Dan Gilbert does plan to move the rest of the employees downtown eventually.

**davewindsor** · August-10-10, 05:22 PM

I've got another clarification question.

#1 What is Quicken Loans? Is this a trust company? Or is this a syndication of mortgage brokers? Where do you they get their money they lend out from? Wikopedia says in 2007 Quicken Loans processed approximately $19 billion in residential mortgage loans.

#2 Why did Comerica Bank, which was HQ'd in Detroit for over 150 years move to Dallas, while Quicken Loans is moving to downtown? Quicken Loans operates in other states. Why didn't Quicken Loans move their HQ to Dallas or another state?

**esp1986** · August-11-10, 07:08 AM

Originally Posted by davewindsor

I've got another clarification question.

#1 What is Quicken Loans? Is this a trust company? Or is this a syndication of mortgage brokers? Where do you they get their money they lend out from? Wikopedia says in 2007 Quicken Loans processed approximately $19 billion in residential mortgage loans.

#2 Why did Comerica Bank, which was HQ'd in Detroit for over 150 years move to Dallas, while Quicken Loans is moving to downtown? Quicken Loans operates in other states. Why didn't Quicken Loans move their HQ to Dallas or another state?

2) Comerica was bought by a Dallas Company, so, naturally, they moved the headquarters to Dallas. It's not like Comerica just up and moved to Dallas, there was a reason.

**mwilbert** · August-11-10, 07:53 AM

Comerica wasn't bought by anyone. They just moved because they wanted to; most likely because they wanted to change their image to being a Sunbelt bank rather than a Rustbelt bank.

**Detroitej72** · August-11-10, 07:56 AM

Originally Posted by mwilbert

Comerica wasn't bought by anyone. They just moved because they wanted to; most likely because they wanted to change their image to being a Sunbelt bank rather than a Rustbelt bank.

It also helped that their CEO is from Texas.

**Detroit500** · August-10-10, 08:41 PM

Who cares? This Quicken Loans scenario has been talked about for years... First this, now that... I'll believe it when I see it. Hope they move downtown. Hope this will stop the sprawl in Brighton/Milford/Hartland. We don't have the population in this region to be spread throughout Wayne-Washtenaw-Oakland-Macomb-Livingston. Absolutely absurd.