How Quicken passed up Wells Fargo to become top

With Quicken Loans having just overtaken Wells Fargo to become the leading direct-to-consumer mortgage lender in the nation, you’d think founder Dan Gilbert might savor the moment. But in a highly fragmented mortgage sector where Quicken commands a market share of just 5.4%, he’s looking ahead. “Every time we start to get a big head, I remind our people, ‘You know that 19 out of 20 people who wake up this morning and get a home loan aren’t coming here?’ ” Gilbert, who is also Quicken’s chairman, said in the company’s bright downtown headquarters looking out on the Detroit River. “We’ve got a long ways to go.”

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Source: USA Today