Effective Feb. 1, 2002, long-time Quicken LoansSM executive Bill Emerson, 38, will become Quicken Loans' chief executive officer and an Intuit vice president. In addition, Quicken Loans veteran Pat McInnis, 36, will be named president and chief operating officer of Quicken Loans, as well as an Intuit vice president.

Dan Gilbert, 39, Quicken Loans current president and chief executive officer, will step into to a new role, focusing exclusively on charting the company's long-term strategic direction. Gilbert founded Rock Financial Corporation in 1985, which was eventually acquired by Intuit and grew into Quicken Loans. Gilbert will remain as Quicken Loans' chairman of the board.

Quicken Loans is a leading online lender and the 27th largest direct-to-consumer mortgage lender in the country. In fiscal year 2001, Quicken Loans, which has 900 employees, closed more than $3.1 billion in mortgage loans and generated revenue of $113 million.

"As Dan moves into a new role to focus on long-term strategy, Bill and Pat will continue to lead the day-to-day operations, continuing the success that has made Quicken Loans the most profitable online lender in the country," said Steve Bennett, Intuit president and chief executive officer. "Dan has assembled the best management team in the business at Quicken Loans and his successors are ready to lead."

As Quicken Loans chief executive officer, Emerson will oversee the company's daily management and growth. Emerson joined Rock Financial in 1993 and has held a number of senior management and leadership positions. He currently is vice president, mortgage operations, overseeing mortgage operations for all Quicken Loans businesses, including the Quicken Loans Web/Call Center and Rock Financial branches. Under his leadership, the company has doubled its capacity to process and close loans.

As Quicken Loans president and chief operating officer, McInnis will have primary responsibility for driving sales and revenue, managing day-to-day operations for loan sales and mortgage operations. McInnis also joined Rock Financial in 1993, and has held a variety of management positions. He currently is vice president of the Rock Financial branch business of Quicken Loans. Under his tenure, Rock Financial has tripled its number of employees and increased sales volume by more than 700 percent.

"We have a solid leadership team in place here. Bill and Pat are both experienced, strong leaders who are capable of running and growing Quicken Loans," said Gilbert. "Both have a track record of success and are well-respected within the company. These changes enable them to take on significant leadership roles. I'll continue to work with them on strategic initiatives, but will now have time to become more involved in other business and charitable interests and, most importantly, spend more time with my family."

When Gilbert founded Rock Financial, he was a first-year law student and served as the chief executive officer and chairman of the Board of Directors. Rock Financial grew into one of the largest independent mortgage banks in the country and in May 1998, Gilbert took the company public. Initially a brick-and-mortar lender, the company launched Rockloans.com in January 1999, and quickly positioned itself as one of the fastest-growing direct mortgage lenders on the Internet. In December 1999, Intuit (makers of leading software products Quicken®, Quicken TurboTax® and QuickBooks®) purchased Rock Financial for $532 million. The company was renamed Quicken Loans Inc., and is a leading provider of direct-to-consumer home loans on the Internet, offering mortgages in all 50 states through Quickenloans.com and in southeast Michigan via its Rock Financial mega- branches.