Once upon a time, in the vast realm of the mortgage industry, two mighty players emerged - AmeriSave Mortgage Corporation and Quicken Loans Limited Liability Company. These giants were not your ordinary mortgage lenders; they revolutionized the way people obtained home loans, bringing convenience, speed, and innovation to the forefront. Let us embark on a journey through their histories and unravel the differences that set them apart.
In the early 21st century, AmeriSave Mortgage Corporation burst onto the scene like a blazing comet. Founded in 2002 by Patrick Markert, this Atlanta-based company quickly gained recognition for its commitment to customer satisfaction and technological prowess. AmeriSave harnessed the power of the digital age, providing borrowers with an online platform that allowed them to explore loan options, calculate payments, and even complete applications from the comfort of their own homes. With a wide range of loan products and competitive rates, AmeriSave became a go-to choice for those seeking mortgages across the United States.
On the other side of this epic tale stood Quicken Loans Limited Liability Company, founded in 1985 by entrepreneurial genius Dan Gilbert. Hailing from Detroit, Michigan, Quicken Loans aimed to disrupt the mortgage market with its cutting-edge approach. Gilbert envisioned a world where obtaining a home loan was as simple as ordering a pizza or booking a flight online. Thus, he poured his heart and soul into developing an intuitive online platform known as Rocket Mortgage. This revolutionary technology allowed borrowers to complete their entire mortgage application process in mere minutes, eliminating tedious paperwork and long waiting periods.
As our story unfolds, one can sense that both AmeriSave and Quicken Loans shared a similar vision - to make homeownership dreams accessible to all while streamlining the borrowing experience. However, it is in their nuanced differences that we find true distinction.
AmeriSave Mortgage Corporation prided itself on being a direct lender. By cutting out intermediaries, AmeriSave aimed to offer borrowers more competitive rates and personalized service. Their team of experienced loan officers worked closely with customers, guiding them through the mortgage process step by step. AmeriSave's dedication to transparency and commitment to providing a seamless experience set them apart in the industry.
Meanwhile, Quicken Loans Limited Liability Company positioned itself as America's largest mortgage lender. With its Rocket Mortgage platform, Quicken Loans revolutionized the way loans were originated. The company leveraged advanced algorithms and automation to provide instant loan approvals, allowing borrowers to receive decisions faster than ever before. This emphasis on speed and efficiency propelled Quicken Loans to the forefront of the mortgage industry.
Both AmeriSave and Quicken Loans have left an indelible mark on the mortgage landscape, but their stories continue to unfold. In recent years, AmeriSave has expanded its reach, acquiring companies such as Allied Mortgage Group and The Money Source Inc., further solidifying its position as a leading force in the industry. Furthermore, AmeriSave continues to innovate, introducing new technologies like eClosing and mobile applications to enhance the borrowing experience.
Quicken Loans too has undergone transformations, rebranding itself as Rocket Mortgage in 2015 to align with its flagship product's popularity. Building upon its success, Rocket Mortgage became the first lender to offer fully online mortgage closings in 2019. Moreover, Quicken Loans made headlines by becoming a publicly traded company under the name Rocket Companies Inc., symbolizing their evolution from a mortgage lender into a full-service financial technology powerhouse.