The company, founded and owned by Detroit billionaire Dan Gilbert, has filed its IPO prospectus confidentially, sources said.
Mortgage rates set a new record low on Thursday thanks to falling interest rates, with the average rate on a 30-year fixed mortgage reaching 2.97 percent, according toin mid-April that March was the "biggest closing month in our company's history -- nearly $21 billion in mortgages closed." He said on CNBC that the company was estimating nearly $75 billion in mortgage applications in the second quarter, compared with almost $53 billion in the first quarter.
Quicken Loans, Morgan Stanley, Goldman Sachs, Credit Suisse and JPMorgan declined to comment on the company's plans for an IPO. The window for initial public offerings has burst open in recent days, with debut listings from Warner Music Group, ZoomInfo and Vroom soaring on their first days of trading. That has encouraged other companies to jumpstart their processes to take advantage of a broader equity market that seemed hospitable to new issuances.
he gave to Crain's Detroit Business in February. He is working on improving his strength and motor skills that were impaired by the stroke, the article said.
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