When a Lender Pays Off Client’s Mortgage

Strange but true. Quicken Loans, an online retail mortgage lender, paid off a client’s mortgage as part of its “Thanks a Million” contest. Daniel Carbo of Colchester, Connecticut, received the news during a center court presentation at this Saturday’s Cleveland Cavaliers basketball game at Quicken Loans Arena. 

Two other contenders for the grand prize, Ryan and Tonya Rasnake from Cedar Bluff, Virginia, and Richard and Valerie Purvis from East Haven, Connecticut, each received $5,000 as runners-up in the sweepstakes at the game.

Quicken Loans’ “Thanks a Million” online promotion commemorated the closing of the company’s one millionth mortgage in late 2010. 

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Every client who closed a mortgage between August 2 and December 31, 2010 was automatically entered into a drawing to pay off one client’s loan, up to $250,000.

For clients not considering a home purchase or refinance, the company also conducted an online game at its website, www.quickenloans.com, giving visitors the opportunity to win one of several thousand prizes, ranging from credit monitoring services from Quizzle.com, life-size wall graphics from Fathead, home alarm systems from Protect America and gift cards from popular retailers.

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“The Thanks a Million promotion allowed Quicken Loans the opportunity to reinforce our appreciation for our clients making the choice to finance their home with us — more than one million times over the past 25 years,” said Quicken Loans CEO Bill Emerson, who was on hand to present Carbo and the other finalists with their prizes. 

As part of the sweepstakes, the three finalists, along with their families and guests, were provided an all-expense paid trip to Cleveland, Ohio.

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“Quicken Loans is amazing, I can’t believe this is happening — it is truly life changing for our family,” said Daniel Carbo, winner of the “Thanks a Million” contest.

Quicken Loans Inc. is an online retail mortgage lender and among the leading retail home lenders in the United States.

In the picture above: Daniel Carbo and son, Alex, of Colchester, Connecticut, learned they were the grand prize winner of the Quicken Loans “Thanks a Million” contest. Quicken Loans paid off Carbo’s mortgage to recognize the company’s closing of its one millionth loan.

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Rakesh Raman