Sources: Quicken Loans Planning What Could Be 2020's Largest IPO
In what would be a massive shift in the mortgage industry, Quicken Loans is reportedly planning to go public, according to multiple media outlets citing anonymous sources. The news comes as IPO activity has begun to pick up in recent days. Sources say that a Quicken Loans IPO could be valued in the tens of billions of dollars, making it possibly the largest one of 2020.
The largest home lender in the U.S., Quicken Loans says on its website that it closed mortgages worth nearly half a trillion dollars from 2013 through 2018. But like other non-bank mortgage lenders, the company found itself in an uncomfortable position when the coronavirus pandemic struck.
Image Source: Quicken Loans
Source Fool.com
