Dan Gilbert in His Own Words

At a recent public appearance, Dan Gilbert gave rare insight into the business success of Quicken Loans and its connection to the revitalization of Detroit.

2 minute read

June 1, 2018, 6:00 AM PDT

By James Brasuell @CasualBrasuell


Quicken Loans

TechCrunch / Flickr

JC Reindl provides a dispatch from the proceedings at theNorth American International Auto Show at Cobo Center in downtown Detroit, where Dan Gilbert, owner of Quicken Loans and famed investor in Detroit's revitalization, sat down for a rare in-depth interview with Bloomberg's Betty Liu. 

According to Rendl, the conversation went into great detail on the growth of Quicken in the mortgage industry—the company recently surpassed Wells Fargo as the largest direct-to-consumer mortgage lender in the nation.

"Yet being No. 1 in mortgages is a lot different than being tops in other industries, such as automotive. In the highly fragmented mortgage sector, where prospective borrowers can visit some 30,000 bank branches and credit unions across the country for a home loan, Quicken's commands a market share of just 5.4%," explains Reindl. Still, Gilbert hopes the company's focus on technology, exemplified by the Rocket Mortgage mobile and online brand, could help grow that market share to 10 percent.

A key aspect of the public interest in Dan Gilbert's business dealings are tied up in Detroit's interest in Dan Gilbert's business dealings. With 13,000 employees in Detroit, if Quicken sputters, so too could Detroit, according to the article.

Another angle of interest to planners is the lingering concerns about mortgage lending in the wake of the sub-prime crisis and Great Recession of a decade ago. "Some market observers have raised concerns about the possible risks and dangers of nonbank mortgage lenders, contending that such firms are vulnerable to sudden dry ups in their short-term credit lines," according to Reindl. "Gilbert insists that Quicken is well capitalized and less risky than many banks." Moody's also has faith in the company, raising Quicken's bond rating in December. 

Thursday, May 31, 2018 in Detroit Free Press

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Get top-rated, practical training

Wastewater pouring out from a pipe.

Alabama: Trump Terminates Settlements for Black Communities Harmed By Raw Sewage

Trump deemed the landmark civil rights agreement “illegal DEI and environmental justice policy.”

April 13, 2025 - Inside Climate News

Logo for Planetizen Federal Action Tracker with black and white image of U.S. Capitol with water ripple overlay.

Planetizen Federal Action Tracker

A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

April 16, 2025 - Diana Ionescu

Blue and white Seattle Link light rail train exiting concrete Downtown Bellevue Tunnel in Bellevue, WA.

Why Should We Subsidize Public Transportation?

Many public transit agencies face financial stress due to rising costs, declining fare revenue, and declining subsidies. Transit advocates must provide a strong business case for increasing public transit funding.

April 7, 2025 - Todd Litman

Bright car headlights with glare at night.

Blinded by the Light: When Brighter Headlights Decrease Safety

Bright LED headlights can create glare and reduce visibility for other drivers and pedestrians.

7 seconds ago - Vox

Coronavirus Driver

Study Links Covid and Poor Driving

The effects of the virus, including ‘brain fog,’ can make driving more difficult and dangerous.

1 hour ago - Streetsblog USA

Streetcar and bus stopped at station on Market Street in San Francisco with Ferry Building visible in background.

Waymo Gets Permission to Map SF’s Market Street

If allowed to operate on the traffic-restricted street, Waymo’s autonomous taxis would have a leg up over ride-hailing competitors — and counter the city’s efforts to grow bike and pedestrian on the thoroughfare.

April 16 - San Francisco Examiner