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Quicken Loans Rides Low Rates to IPO

New York | Last week saw news reports that Quicken Loans is considering an IPO, an exciting prospect for the mortgage sector where private ownership and Buy Side sponsorship tend to be the rules. Leslie Picker at CNBC broke the story Thursday and says Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:MS), Credit Suisse (NYSE:CS) and JPMorgan (NYSE:JPM) are managing the deal, according to the cable business news network.

As we told Robert Armstrong at The Financial Times, there are several other players in the top ten nonbank seller/servicers that could access the public equity market – particularly now that the Federal Open Market Committee has guaranteed a bull market in residential mortgages for the next several years.