Menu
Quicken Loans
Quicken Loans Customer Service Phone, Email, Contacts

Quicken Loans
reviews & complaints

www.quickenloans.com
www.quickenloans.com

Learn how the rating is calculated

4.4 1168 Reviews

Quicken Loans Complaints Summary

87 Resolved
160 Unresolved
Our verdict: Engaging with Quicken Loans, which has a below-average resolution rate, demands caution. Thoroughly assess their service reviews and explore how they handle unresolved complaints. If you encounter issues, document your experiences meticulously and be persistent in seeking resolutions.
Verified
The authenticity of the customer service contact information for Quicken Loans has been meticulously verified by representatives from ComplaintsBoard using our proprietary verification system.
Get notifications about new complaints and reviews of Quicken Loans. We promise not to send you any unrelated messages.
Share
Claim Your Business
Take control of your profile: address complaints and engage with reviews
Write a review File a complaint

Quicken Loans reviews & complaints 261

Filter reviews by rating
5
910 reviews
4
1 review
3
0 review
2
0 review
1
10 reviews
Sort by:

Newest Quicken Loans reviews & complaints

ComplaintsBoard
L
11:01 am EDT
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Quicken Loans want to run your credit report before they'll even talk to you

I called to find out if there was a refi program we'd qualify for. I was armed with all of the necessary financials (adjusted gross income, property value, current mortgage balances--even my credit score!) but the rep would not even talk to me about a program without pulling my credit report. I told him I didn't want my credit pulled, just wanted to know if they had a loan for me based on the info I gave him. He was very vague and said they *might* have a program but needed to run my credit first.

When I pushed back, he became rather condescending and told me "it sounds as though you want me to tell you I *don't* have loan program for you" (when in reality, I was just being up front about my financial situation) and then was very happy to hang up with me. Apparently, I was wasting his time.

I'm glad I didn't spend much time and energy with this company. Don't waste yours.

Read full review of Quicken Loans
Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

Hide full review
ComplaintsBoard
P
10:01 pm EDT
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Quicken Loans fraudulent practices

I applied for a refinance mortgage of a condo and they wanted $500, deposit towards closing costs after a preapproval and said it would be returned if we were not approved. All was fine and then they ask if the condo project was 100% complete and I answered no (it is about 80% finished), and they said they do not mortgage condos unless all units are done. I had already applied, they had the appraisal done and then they ask this question? I had clearly told them I lived in a condo, and that should be one of their first questions. Anyway they do not want to return the $500 deposit-- absolutely the most unprofessional people I have ever dealt with. I have reported them to Attorney General's office and will report to BBB. Horrible. Then the rep said, "I can't remember everything to ask, " and that "it sucks" we did not get he loan. Stay very far away from Quicken No-Loans.

Read full review of Quicken Loans
Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

Hide full review
ComplaintsBoard
T
4:27 pm EDT

Quicken Loans thieves and crooks

I applied for a refi loan with Quicken. They kept saying it was approved, & kept requesting more documents, which I kept sending, then they charged $500 to my AmEx card, & proceeded to deny the loan, even after saying it was approved for over a month! I tried to get my money back through AmEx, but AmEx could not get it back from them. Quicken is the worst kind of predatory lender there is ~ lying to people, & stealing their money! I was ripped off for $500, plus my current lender charged me $30 for a payoff amount request, & I got absolutely nothing for it! I am looking for a class action suit against Quicken, because I've read a lot of complaints similar to mine.

Read full review of Quicken Loans and 1 comment
Hide full review
1 comment
Add a comment
S
S
Sitthisak Phromphuwal
Enterprise, US
Apr 15, 2011 1:00 am EDT
Verified customer This comment was posted by a verified customer. Learn more

Hi Tyler, I just now ralize that I got scam. I'm so upset about this. I wish I had read this complaint before hand. I guess, we can't do nothing about it huh?

ComplaintsBoard
B
11:32 am EDT
Featured review
This review was chosen algorithmically as the most valued customer feedback.

Quicken Loans - rip off

This company is a major rip off, have 800 credit score and they came up with ### 2 days before my loan was to fund, ripped me off for 400$ for a 150$ apprasel. I worked with them for three months jumped though every hoop.They kept asking for more and more documents. Ever time I delivered.I went thought a divorce and had to refinance because of the decree...

Read full review of Quicken Loans and 9 comments
ComplaintsBoard
F
10:14 pm EDT
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Quicken Loans poor disclosure, intimidating arrogance

Returned call of Quicken employee to inquire about rates, fees/disclosures, and application process to be greeted by an arrogant employee who was more intent on getting my SS# than qualifying my needs, answering my questions and allowing me to determine which lender would get my business. The salesperson tried to subject me to written talking points, evaded questions and having verbalizing the U-Tube video by their executive trying to minimize their rash of consumer complaints, suggested that perhaps I wasn't compatiable with Quicken's loan process and services. I was complemented as I wasn't naive enough to be manipulated into a strong-arm tactic without any disclosure of services/fees. Irritated by the person's behavior and lack of professionalism, I contacted Quicken Customer Service/Relations dept, spoke to Ann who listened and convinced me to consult with a Sales Director, who could answer my questions. When this person came on the line, almost immediately he assumed an agressive posture by asking what I wanted to know, but when I enumerated my queries, he immediately reflexed into boasting about Quicken elite customer service/satisfaction, quoting interest rates in mid-low 3+%, zero points, how many hours they worked, how many loans they approved/closed. Again, it was almost a deja vu of U-Tube's executive counterpoint to consumers complaints. The sales director try to bargain wtih me on info by asking me to fax him my GFE from any other company and he would beat it, but by this point it was apparent he was only interested in driving me through their bait & switch routine, providing me no real basis for chosing their service or process over any other I had already ascertained from two other reputable companies with no pending BBB complaints and ratings of A or A-. Clearly, I learned that the online complaints I had read on Quicken were not exaggerated and wondered how others may have been drawn into their predicaments. However, I am certain that unlike my two austere, tactless, clueless people skilled unprofessionals that there are some charming people who successfully get you in the door only to later slam you fingers during the processing, underwriting and other mutliple checkpoints where poor follow-up, lack of disclosure and intimidation tactics can be used. STAY AWAY OR SUFFER THE CONSEQUENCES OF THIS NIGHTMARE at a time when you are already stressed trying to shop a good lender/loan.

Read full review of Quicken Loans and 2 comments
Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

Hide full review
2 comments
Add a comment
R
R
relieved400
Clinton, US
May 25, 2010 5:49 am EDT
Verified customer This comment was posted by a verified customer. Learn more

As a former employee, I completely agree. You are just a number that mean absolutely nothing to them. its a sick place to work for and I would never do business with them. Most of the employees couldnt manage a check book...little lone manage your largest invesment. These are kids that many have never even purchased home. They give the company line get you to send in some paperwork and then move on to the next client.

Well said both of you and I am sorry you had to deal with them. Tell everyone the bad experience you had. Refer them to here if they have any questions. This place is full of complaints...and they are all valid. In fact, the complaints on here barely scratch the surface of the corruption at that company.

J
J
jdunn1
San Marcos, US
Mar 29, 2010 10:44 pm EDT

GOOD LUCK! I'm in the mortgage business and my girl friend is a Realtor. She had client that had already started the process with Quicken and it was a nightmare. As I've mentioned before, you are just a number to them. If they screw up or give poor service it not like it will cost them any business, they will just pick up the next blind phone call.

ComplaintsBoard
R
6:15 pm EDT

Quicken Loans misrepresentation, theft, false statements.

Well first these are the most unprofessional company I have ever had dealing with. They continued to call me even after I reviewed that I would need to call them as I had a death in the family. They would not quit calling me. Then they handed it to a new person that was "more qualified". Then he called continues. I final had time to get back with them after the funeral.
Then they presented me with numbers that were truly would provide me with a comfortable situation making my home payment each month. I reviewed the appraisal I had 3 years ago and was told it was too out dated and that I would need t0 have one of their certified FHA appraisers to do a new one. Since that appraisal I had added a 16 x 14 sunroom on the back of the home. I final ok'd and paid them money as a good faith down payment to do business and would get the full amount back at closing. The documents they needed kept changing and adding more. We finally got to the point where we could do the appraisal. Then is seems the process stalled. We finally were contact by an appraiser and made an appointment. The appraiser came and my wife called me afterward. She stated he walked in and walked upstairs and walked down stairs and left. He was at our house 10-12 minutes. This concerned both of us. I then waited a couple of days and spoke to Mark the representative for Quicken who stated that the appraisal came in and it was 20, 000 under the appraisal from 3 years earlier. Since that prior appraisal we had added a sunroom and tile and heated floors through the house. He stated he would send me a copy of the appraisal. After a week we final received the appraisal. The appraisal had several errors in it and I called and typed up an email to mark as he requested and asked for another appraisal because of the obvious lack of accuracy and the 12 errors in the appraisal. Too many to note is the writing. The reply I received was that the errors would not affect the appraisal value. So a house that was appraised for 3 bedrooms and 7 rooms that actually have 4 bedrooms and 8 rooms on the main floor the value would not change. I was told no….? I was confused; I requested again for a second opinion and was denied. Even when I pointed out that they had used my own house as a comparison and valued it 30, 000 more than what he had stated mine was worth. Then I pointed out one of the comparison was smaller than my house and 1 less room that sold more than $30, 000 then they are saying mine is worth. I was ignored! Then I was talked to like I was an idiot and didn’t understand what I was looking at. Unfortunately I had reviewed this info with a mortgage broker and he agreed with me that the appraiser did not make a fair and accurate evaluation of my property. All yea my money was used for the appraisal and they will not be returning anything to me. That was one expensive appraisal!
So my recommendation, Quicken is after your money and not customer service. I did forget to say the numbers had changed through the process also “due to market issues”. All this time I thought I had a locked rate….. Hmmm-- STAY FAR AWAY FROM THIS COMPANY!

Read full review of Quicken Loans and 1 comment
Hide full review
1 comment
Add a comment
L
L
libby-1
Dartmouth, US
Apr 09, 2010 6:53 pm EDT

Jared Goldappper and Dennis Charron are both bullies and provide false information. I have attempted to try and close on a loan for the past month and I have been lied to constantly about fees, rates...etc.
I'm sick and tired of dealing with these con's...The government should SHUT THEM DOWN. I'm filing a complaint and calling my state rep as well. I'm not letting this go. DON'T GE CAUGHT UP WITH THIS COMPANY THEY ARE ALL SCAM ARTISTSS!

ComplaintsBoard
C
8:30 pm EST
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Quicken Loans unreliable

I was looking for house loan and came across Quicken loans. They gave me the best rates with low fees, so I overlooked all the bad reviews I read about them. The next daywhen I said let's lock the rate, the representative says the rates have gone up and you have to pay $$ upfront. I checked with other companies who gave me a quote and they all were still the same and said that there has been no increase in rate.
All of you out there read the reviews and then make your judgement.

Read full review of Quicken Loans
Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

Hide full review
ComplaintsBoard
T
2:20 pm EST
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Quicken Loans misleading info

When going through them to re-finance they had the best deal as far as monthly payments but when you add up all the fighting you have to do to get them to honor these prices it's not worth it. And now after I agreed with them about this loan discount fee before I settled, they told me to treat this like paying points b/c that is how they are able to achieve the cheaper/lower loan/payments. This would be find if they were viewed as paying points b/c at least at the end of the year you could deduct them from your taxes but b/c of the legal wording you cannot. Why tell me to treat them like something then have me do research and figure at tax time I would have a deduction but b/c of legal wording I do not. So, thank you for selling my loan to a good company and do not ever contact me again.

Read full review of Quicken Loans
Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

Hide full review
ComplaintsBoard
R
6:00 pm EST
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Quicken Loans $500.00 deposit

Raymond Manna
47 Harkins Lane
Meriden, CT 06450
February 4, 2010
Quicken Loans, Inc
20555 Victor Parkway
Livonia, MI 48152

To whom it may concern,

Despite my specific written instructions to Jonathan Soronen of Quicken Loans (see faxes sent on Feb.1 and 2 and attached to this letter) to Withdraw my loan application, Quicken Loans continued to call me and send emails, blatantly ignoring my instructions and totally disrespecting my wishes.
In the message left on my home phone on Feb 3 a salesman by the name of Scott (no last name given) expressed his apparent concern about my loosing the $500.00 deposit.
Also during my 1and ¾ hour telephone conversation with Jonathan Soronen he kept repeatedly emphasizing how he cared about me and therefore didn’t want me to spend extra money unnecessarily.
If these two salesmen are so genuinely caring then why did they go ahead and bill my credit card for $500.00?
Now here is their golden opportunity to show how concerned they are about their customers and to demonstrate a genuine desire to treat their customers fairly and respectfully.
In order to resolve this dispute I suggest Quicken do the following:
Place a credit back onto my credit card for at least $250.00. This will more than cover the cost of running my credit report and reviewing my loan application.
I did not authorize you to proceed with my loan application or to order third party documents! Splitting the cost with me is much more than fair considering it costs no where near $500.00 to perform those two simple items.
How can you claim to be so concerned for my financial needs and then zap me for $500.00?
In summary Quicken Loans salesman deliberately ignored my faxes and continued badgering me by phone and emails in order to justify scamming me out of $500.00.
Your treatment of customers is indicative of an unscrupulous Predatory Lender.
This is your opportunity to show fairness and respect for your customer’s wishes.
In conclusion I am once again directing Quicken Loans to stop any further contact with me except by letter.

Very Truly Yours,

Raymond Manna

cc: Chase Merchant Disputes

By Ray, Sun Feb 7 2010, 14:08
Please learn from my experience with Quicken (quick Change Artist's) Loans. I made the foolish mistake of authorizing them to take a deposit for $500.00 from my credit card. BIG MISTAKE!
When I did my homework I quickly learned that they were offering me a refinance that was the very highest in both closing costs and APR. I was offered many other refinance loans from at least 12 other companys.
Specifically, Quicken Loans offered me only a half point lower than my current interest rate with closing costs of $3100.00. As all of you know it makes no sense to refinance unless you are at least one percentage point lower. When I confronted them with my findings they said they could give me a 0.8 % lower if I pay points for a total closing cost of $6900.
I explained that I could get at least one percent lower with only $3100 in closing costs without paying points.
My agent, Jonathan Soronin insisted that this information was simply not true and refused to be at all flexible.
I couldn't go through with this unreasonable deal and instructed Quicken Loans in writing to cancell my contract.
Jonathan Soronin and his sales team refused to acknowledge my instructions and continued to call me and badgered me on the phone, denying me the right to cancell and insisting I accept their unreasonable offer.
When I sent them a second written notice to stop the loan process another salesman by the name of Scott called and left a message to call him because he felt so bad to see me loose my $500.00 deposit.
In fact he felt so bad that when I didn't call him back he charged my credit card for the $500.00.
Please don't give them your money, when I have more time I will write another comment explaining how you can beat them at their own game!
If you would like to contact me my email is [protected]@att.net.
BTW just type in your zip code on Bankrate.com and you will see a list of all the lenders in your area, then you will have a better idea what I am talking about.
• edit
• delete
• report

Read full review of Quicken Loans and 4 comments
Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

Hide full review
4 comments
Add a comment
T
T
thomas sneath
, US
Mar 23, 2018 12:17 pm EDT

I did not have a loan with quicken loan and they took 500 dollars out of my bank. as they had no authorizing to do so.

K
K
knigmike
, US
May 05, 2016 10:53 am EDT
Verified customer This comment was posted by a verified customer. Learn more

Are there any good comments about this company?I'll take my business elsewhere...Thanks for the "heads up" warning.I wonder how much business they've lost. I'm just amazed that there are no good comments?WOW!

D
D
DON'T GO WITH QUICKEN LOANS
Daly City, US
May 24, 2011 8:04 am EDT

DO NOT GO THROUGH QUICKEN LOANS OF YOU REALLY WANT A LOAN!
STOP! THEY ARE THE MOST UNPROFESSIONAL, UNEDUCATED, HAVE ABSOLUTELY NO IDEA WHAT THEY ARE DOING.
IF YOU WANT TO GET A LOAN DO NOT GO THROUGH THEM. I PROMISE YOU IT WILL BE THE BEST DECISION YOU WILL EVER MAKE.
I AM SUPRISED THEY ARE STILL IN BUSINESS. THESE IDIOTS DO NOT EVEN GIVE LOANS. THEY JUST TAKE YOUR APPLICATION FEE.
BELIEVE ME AS A REAL ESTATE AGENT AND A CONSUMER DO NOT GO WITH THESE LOSERS.
DO YOURSELF A FAVOR GO TO A DIFFERENT MORTGAGE BROKER. I DO NOT THINK THESE [censored] ARE EVEN OLD ENOUGH TO GET THEIR OWN LOANS. THEY HAVE RUINED MY CLIENTS DEAL BY LYING AND WASTING TIME. THESE PEOPLE NEED TO BE PUT OUT OF BUSINESS. SOMEONE NEEDS TO SUIT THEM. SERIOUSLY THEY SUCK.

Kelly@Quicken Loans
Kelly@Quicken Loans
Livonia, US
Feb 18, 2010 12:38 pm EST

Hi Raymond - my name is Kelly with Quicken Loans and I wanted to try to shed some light on this for you.

As explained in our reply to the complaint you filed with the Better Business Bureau, our bankers are trained to explain our deposit policy up front at the time of application. We have nothing to hide. Potential clients can read how the deposit works on our web site:https://www.quickenloans.com/about/quicken-loans-deposit, or they can watch a video on Youtube - http://www.youtube.com/watch?v=Nd0vm707bwg. Additionally, each and every client is provided with an Interest rate Disclosure and Deposit agreement that they sign at the time the apply. That agreement provides that if a client chooses not to close their loan for any reason, the deposit is considered non-refundable. Accordingly, when you withdrew your loan application, we retained your deposit.

We are certainly sorry if our follow-up calls following your decision to cancel the loan process upset you. We were merely trying to understand what happened that caused you to change you mind and walk away from what we viewed as a beneficial loan program.

Once you signed your application, we immediately began working on your loan. We locked your interest rate (which carries a fee on the secondary market), ordered and received various third party items including a title search and your IRS tax transcripts, and provided you with a fully underwritten conditional approval letter. If you were not ready to proceed with a loan and/or did not agree to the terms of your deposit, you could have taken more time to make a decision or declined to proceed entirely. But you did sign your loan application, authorizing all of it to happen and indicating you understood our deposit policy.

Quicken Loans is the nation's largest online lender and 5th largest retail lender. We speak to over 3 million people each year. When less than a fraction of a percent of those clients complain, we think we are doing pretty well. All we are asking is that you honor the commitment you made to us when you agreed to proceed with your loan and signed the Interest Rate Disclosure and Deposit Agreement.

As mentioned in our reply to the Better Business Bureau, as a compromise we are willing to apply the retained deposit towards the closing costs of a future refinance or purchase with Quicken Loans. If you would like to take advantage of this offer, please contact our Client Relations team at [protected] so we can make the necessary arrangements.

If you have any other questions, feel free to contact me directly. Kelly@QuickenLoans.com

Thanks,

Kelly
Quicken Loans
Kelly@QuickenLoans.com

ComplaintsBoard
T
2:22 pm EST
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Quicken Loans gave me false numbers then after a $400.00 fee claimed I am not eligible

upon calling eileeen tetz says she can see from my income and the purchase price that i would be approved. then she ran my credit tthen sent my a pre-approval letter. then after the home under contract. she required documents to be signed. prior to those papers being signed, i required accurate number and lock my rates. she asked for the taxes on the home and i gave them to her. she still said i qualify and requested $400 to ensure that i will complete the loan with her. after the $400.00. all of a sudden the communication was scarce, another person start calling in place of her claiming to be a client customer care(which stop all communication with the loan agent). Then 5 days later (after the check cleared) all of a sudden my taxes is the reason i am not approved for the loan. she received a certification letter of the taxes being $1000 more then told in the beginning. now she making up all these lies to make me believe it wasnt a scam in the beginning. like even with a co-borrower their score also have to be at least 620 and have to be a relative and have to live with you in the purchased home. all of that plus the purchase price need to decrease about $20, 000 then its approved

Read full review of Quicken Loans and 1 comment
View 0 more photos
Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

Hide full review
1 comment
Add a comment
D
D
donewidNY
Freehold, US
Feb 08, 2010 2:53 pm EST

thats why you need to deal with person to person. you called quicken because you thought you can get somehting cheap esp rates.
this is your biggest investment and you must make all effort no shortcuts.

if you deal with brokers - you must be referred by a satisfied customer
if you deal with retail banks - then walk into the same branch where you have your checking and savings.

ComplaintsBoard
D
6:36 pm EST
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Quicken Loans unfair business pratices

On November 4th, 2009 I entered into a refinance contract with Quicken Loans. At that time I was given a Rate Lock Agreement with a Derrick Eppich Lender Representative at 16245 North Pima Rd., Building “A” Scottsdale, AZ 85260 on one loan document and 20555 Victor Pkwy, Livonia, MI 48152 on another loan document. I filed with them the following required documents:
Most recent pay stub(s) reflecting a minimum of 30 days year-to-date earnings
All W-2 forms from 2007 and 2008
Statement showing the judgment and/or tax lien had been paid in full
Documentation for 2nd job income (I am a member of the Army Reserves)
Signed request for transcript of Tax Return (Form 4506-T) for 1040S
Information regarding appraisal (I had had an appraisal done on May 29th, 2009 and was informed that I could use this appraisal for the loan) at that time my home appraised for $125, 000 and I was told this appraisal would be the used for the loan since it was a FHA approved appraisal.
Credit Inquiry Explanation Letter
All documents were submitted in a timely matter. At that time I informed them we had not filed our 2008 taxes yet and had an extension approved by the IRS. I was told the extension papers were good enough to cover the 2008 tax request.
I was given an Interest Rate Lock Agreement of a 4.5% interest rate, loan discount fee of .625%. My loan amount was to be $120, 472 (payoff amount of $101, 061 and $13, 843 for second mortgage payoff, $2, 867 closing fees, $2, 943 prepaid items/escrows/MIP [?]). It was o be a FHA 15yr fixed. And I was to receive $157.10 at closing. I was then requested to give them a $400 deposit for appraisal (I was told this deposit was be refunded to me on closing because I had supplied my own FHA appraisal) I empathically told them I did not have the required deposit (I did get a loan for the amount). I was told this would take approximately 3 weeks to prepare the paperwork for signing. After a week I was told Derrick no longer worked for the company and my loan was transferred to Ms. Tynina Washington, Sr. Client Care Specialist. I was then sent the following email 4 Dec from Ms. Washington: Hi Douglas, per our conversations, this is what is needed to complete the loan process.1. Please provide name, phone number and policy number for your insurance 2. Please provide all pages of your personal tax returns. Thanks Ty. I provided the information requested emphasizing the fact that my 2008 taxes were still be prepared and was again told not to worry about it since I had an IRS extension in place. I then received a call from Ms. Washington informing me that the extension from the IRS was no longer acceptable and that I had to get them the returns for 2008. Since they were still in the process of being complied by my ex-wife’s account (because she is a small business owner, I had to wait until her corporation and business taxes were completed in order to finish my personal taxes). I finally got them finished and had the return faxed from the accountants directly to Ms. Washington. I was told that this was all that was needed and that I would be contacted within the week to arrange for my closing documents to be signed. 2 days later I received another call from Ms. Washington that my tax forms were not acceptable because it did not have an IRS stamp confirming they were filed with the IRS. I was also told at that time that my appraisal was also no longer valid and that I had to get another appraisal done. I was very concerned at this time that my lock in date was approaching (Dec 21) and I did not think I could get the required paperwork to them. I was informed by Ms. Washington that I did not have to worry because I was working on them and that my locks in rate and loan specifics were extended since they knew I was working on them. I once again told them I was not comfortable having to pay for another appraisal since I did not have available funds to do so. I was also concerned that I might not get the loan and was assured that the appraisal was just a formality and I need not worry. I got them the IRS stamped return and arranged for another appraisal. I then had to contact Ms. Washington that I had not been contacted by their appraiser and asked for her help. On Dec 17th I was finally able to arrange an appraisal after trying for 2 weeks to get them to come out. So on the 22nd of December some person named Andy calls and asks me where I came up with the $125, 000 figure for my property and I inform him about the appraisal I sent to them and is in my loan package. He states he has never seen it in my loan package and I then ask what happened to my loan specialist (Ms. Washington) and I am informed the loan has been turned over to him and I would need to deal with him to close my loan. So their appraisal comes back at $112, 000, $13, 000 less than the appraisal I started with. Now this Andy states I need to came up with $5, 000 in order to get my loan approved. Now today (23 Dec, 09) I heard a report when they were interviewing the Secretary of the Treasury that housing prices were up 2.3%. So somehow my house lost over 10% of its value from November to December. And now they justify keeping all the fees they charged knowing I cannot come up with $5, 000 to complete the loan process. So now I can’t even apply for another loan because their appraisal makes it impossible for me to even qualify. I feel every time I met their requirements they changed them so they could delay the process and force me to get another appraisal devaluing my property and thereby placing a $5, 000 requirement to get it and meet the requirements. But all they did was make it impossible for me to complete the transaction.
On December 23, 2009 I discovered on the website consumeraffairs.com and the Better Business Bureau where hundreds of complaints just like mine have been posted against Quicken Loans for the same underhanded practices.

Read full review of Quicken Loans and 1 comment
Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

Hide full review
1 comment
Add a comment
D
D
delete
New York, US
Jan 06, 2010 11:25 pm EST

you could always resubordinate the second lien or have a new appraisal completed with a different mortgage company. Id be more than happy to review the current appraisal(if you have a copy) to check for any inconsistentcies. feel free to email me if you would like to setup a free phone consultation at egroussman@gmail.com. I am a seasoned mortgage vet and work for a federally chartered bank. It's worth a shot, right?

Thanks
Ed Groussman

ComplaintsBoard
Q
12:33 am EST
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Quicken Loans took my money and stalled on the loan

Avoid quicken loans like the plague. They will cheat you and lie to you. They promised me a quick loan. Seven months later they declined the loan with no reason given. I complied with every outrageous request but that made no difference. I have an excellent fico of 790 and an excellent payment history. The home is worth well more than I owe. Yet, they could not get their act together. All they cared about was keeping my $5oo good faith money. Stay away from quicken loans.

Read full review of Quicken Loans and 1 comment
Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

Hide full review
1 comment
Add a comment
Kelly@Quicken Loans
Kelly@Quicken Loans
Livonia, US
Dec 30, 2009 3:09 pm EST

Hi, my name is Kelly from Quicken Loans. I'd like to look into this for you!

I'm not sure what you mean by "declined." If we deny a loan, we refund all money not spent on your behalf. So if you gave us a $500 deposit and $300 was spent on your appraisal, you would be refunded $200. If you withdrew from the loan, you would get no refund. You can find out more about our deposit policy on our site: https://www.quickenloans.com/about/quicken-loans-deposit

Again, I'm happy to help. Please contact me directly: Kelly@QuickenLoans.com

Thanks!

Kelly
Quicken Loans
Kelly@QuickenLoans.com

ComplaintsBoard
T
10:08 am EST
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Quicken Loans bait and switch

In June of 2009, I contacted Quicken for a simple refinance of my present home. I am an older woman, semi-retired graphic artist who works from home. I bought this home nine years ago after my divorce. This home represents a personal triumph for me as it was the first home I bought all on my own, with my own credit and income. Now as a self-employed individual, I don’t show much income. My accountant utilizes the appropriate deductions, etc., with the resulting bottom line being very nominal for tax purposes. In the past, my loans have been “no-docs.” My credit rating is excellent and my cash flow good as verified by my bank statements.

When I contacted Quicken Loans, I explained my self-employment status with low income and the representative assured me that it would not be a problem. I was pre-approved, contract e-signed, Good Faith deposit applied to my credit card, and the nightmare began...

It went on for nearly eight weeks. The underwriters wanted more and more. I faxed, I emailed, I mailed, I documented, I spoke with countless individuals. They determined that I had to add my new husband as a co-signer. I cooperated. I sent more documents. Nothing seemed to be good enough. I was turned down on that first loan contract. I was offered another loan with higher fees/interest rate. As it was not in my best interest, I declined. I was then offered another loan that had the same rates as the first loan. I thought this was odd in light that I had already been refused, but I again e-signed contracts for this new loan. Once again, the underwriters declined. Then again I was offered another loan with higher fees/interest rate which I declined.

I requested a return of my deposit. I was told no. In essence, I had to take any loan that Quicken could offer, good or bad, or never see my deposit again. At this point I was furious with everyone involved. I wanted nothing more to do with Quicken Loans, except, to get my deposit returned.

I received one last phone call from another representative wanting to offer me yet another loan. I told him in no uncertain terms that I would not do business with a company as unethical as Quicken Loans.

But there was still the problem of my Good Faith deposit that had been applied to my credit card. I was informed countless times that Quicken Loans had spent my deposit on the appraisal and credit check and since it was spent, it was gone. So, despite the fact that I was approved for a loan, signed a contract for that loan, and then ultimately, through no fault of my own, never received that loan, not once but twice, was not entitled for a return of my deposit. Really?!

I have spoken to many Quicken Loans employees, most of whom I have found to be trapped working for a company as unethical as this is. They had little to say in response to my complaints except a parroted corporate response. In my heart I believe they know who they are working for...

I put in a dispute with my Chase credit card in August just barely meeting the eight week minimum deadline for disputes. Months later, I get a letter from Chase stating that they rebilled Quicken Loans. Quickens had mailed them a copy of the bogus contract with the clause about the deposit highlighted. Chase’s letter to me stated that because there was a contract, the same contract Quicken Loans feels validated not to honor, however, feels validated to demand that its consumer honor, Chase would not dispute the charge. Chase’s “fraud protection” did not protect me from Quicken Loans. It seems Chase and Quicken Loans are partners in this venture.

I personally believe that a class actions suit will definitely ensue. There are entirely too many individuals who have been lied to, stolen from, insulted, and made fools of. Myself included.

This is a tough time in the economy for many, many hardworking people. For a major corporation to prey upon so many unsuspecting individuals, is unfathomable. It is common knowledge that Corporations have no conscience. But I’ve never seen it so flagrantly displayed until now.

Speaking for all of those who were ripped off by Quicken Loans, I guess we will have to do with less this Christmas. I know in my case, $400 would have bought many nice gifts.

Read full review of Quicken Loans and 6 comments
Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

Hide full review
6 comments
Add a comment
A
A
Azazello13
Lakewood, US
Feb 11, 2010 4:20 pm EST

When I used Quicken on my original home purchase 4.5 years ago, I had a good experience, finding them to be competitive, straightforward, and efficient. So I called them back earlier this year when I wanted to re-fi. Something appears to have changed with they do business.

Initially, my banker quoted me a reasonable rate on a 30 yr fixed mortgage, with about a half point in origination fees. Reasonable. So I put down a $400 deposit with them to initiate the appraisal. Appraisal came in at $4, 000 less than the assumption we based the first GFE on, which just meant I had to come up with $3200 more at close, no big deal. But in the meantime, the wife and I decided that a 5/1 ARM would better suit our situation, so I asked my banker what he could do for me in that product, and he quoted me a rate that was reasonable, but higher than the national average.

So a week goes by, and I log into the quicken website to update some bank/funding info for them, and I notice that it says it is waiting for confirmation of funds to close in an amount significantly higher than the first GFE plus the extra $3200 in principal buy-down. And there is no updated GFE. So I ask him about this, and he sends me a new GFE, and lo and behold, the new GFE on the 5/1 ARM contains an extra point ($2K) in origination costs compared with the initial quote. Let me stress that he NEVER mentioned he was doing this when he quoted me the rate on the 5/1 ARM -- he just said that my closing costs would be higher (due to the lower appraisal and extra money to get to 80% loan-to-value). So at this point I smell classic bait-and-switch. I call my banker about it, and he mumbles something about not realizing he had put in a "discount" fee to get the rate he quoted me, and that he thought he could probably still get the rate he quoted without the extra $2K in origination -- he just had to "talk to his manager". What, am I buying a used car here? Of course, he never got back to me on that, apparently just hoping I'd ride things out since I'd already put down a deposit with them. The whole thing sat very wrong with me, so I found another lender to give me a significantly better rate, at significantly lower cost, and most of all somebody that I feel is being honest with me.

I asked my new lender about using the appraisal Quicken commissioned, so that I wouldn't have to take a complete loss on the $400 deposit. His response was rather telling. He said he would rather just order a new one and pay for it himself, since they had several issues with Quicken transferring appraisals in the past, and with them doing everything they could to sabotage deals after they had lost them. That sounds like par for the course with Quicken Loans these days.

Perhaps this is about one banker's underhanded tactics, and other bankers at Quicken are honest and reputable. But I sure wouldn't want to take that chance.

After telling Quicken how I felt about all of this, I ended up speaking at some length with someone fairly high up in their organization. For the sake of fairness, I will tell you what Quicken's explanation is. They say that when they switched my "product" after the appraisal, the "good" past-customer pricing didn't automatically carry over, that it requires some sort of supervisor approval. So, their story goes, he quoted me the rate he knew he could get me, entering it with a discount fee, fully intending to back that out later after getting supervisor approval for the "good" pricing. The problem with that explanation, as I see it, is that a week after he switched my product, and I put him on notice that there seemed to be an issue with the "funds to close" amount and asked for documentation (new GFE), he took about a day and a half to respond to my request, and when he did he sent me a GFE that included the extra $2K origination. Now if it was something waiting on some clerical approval that he fully intended to remove, that certainly would have been the time to remove it. The fact that he left it in there is telling. My firm opinion is that they were ready to pull out that extra origination if I squwaked, but the hope was that they could slide it by and sort of hide it behind the extra principle amount needed to close.

To sum it up: they quoted me good pricing to get me to put down a deposit, then they switched me to garbage pricing when I changed what I was asking for, and then they were going to put me back in the good pricing if I complained (blaming some clerical oversight), but leave me in the garbage pricing if they could. It's not so much actively dishonest and predatory, it's just typical cheap sales tactics. I believe there are lots of lenders out there who do not operate this way, so for that reason I would recommend staying far clear of Quicken Loans.

S
S
SusanL
, US
Mar 04, 2010 1:44 pm EST

Quicken Loan is full of people who is just looking to rip people off. I was contacted by one of their loan officers along with other companies when we decided to refinance our home. After hearing out offers after offers we decided to go with Quicken Loans because their offer stood out. Their Loan Officer told me that my rate would be %4.25 30 year fixed with no closing cost period. That is when the loan officer asked me for my credit card number so he can charge $500 in terms of "good faith" now the story started to change a bit after i started to ask why the deposit was needed.

I then asked other loan officers from other mortgage banks and it seems to me that they do not charge any type of upfront "good faith" fee. There is no such thing in many of the better banks. So I started asking all the loan officers on the rates and the closing cost that I was being qouted on. Funny thing was all the other 7 Banks including me and my husband walking into Chase and contacting Wells Fargo both said rates for a 30 year mortgage is not that low. Even with paying to get the rate down. Then I remember the loan officer telling me there is no closing cost. Now how is this possible? Thank god I was smart enough not to work with Quicken Loans and backed out. Other wise I would have lost $500 dollars for no reason. The banking department should really look into Quicken Loans. They are ripping clients after clients off. It is a shame how during these tough times that our country is going through, that we still have banks and companies such as Quicken Loans that just rips people off. Shame really. I am sure most people who will pretend to be a satisfied customer are really their Loan Officers or their employees trying to defend the corrupted bank, so they can rip more people off. People do not be fooled!

Kelly@Quicken Loans
Kelly@Quicken Loans
Livonia, US
Feb 18, 2010 1:01 pm EST

Hi - thanks for posting. I know I've already replied to you on Epinions, but I wanted to make sure I got my message to you.

While it sounds like you've spoken with someone about your concerns, I do want to make one thing clear - we always try to do the right thing. We are far from perfect, we will admit to our clerical errors, but in the end, I know we would have done the right thing by you, our client. We don't close $25 billion in loans in a year by scamming people or doing misdeeds.

While I'm sorry we didn't ended up helping you in the end, I hope everything turned out okay with your refinance. If you have any further questions or issues, please get in touch with me directly: Kelly@QuickenLoans.com

Thanks.

Kelly
Quicken Loans
Kelly@QuickenLoans.com

Kelly@Quicken Loans
Kelly@Quicken Loans
Livonia, US
Dec 23, 2009 5:06 pm EST

Thanks for posting.

I sent you an email, which I'll paraphrase here.

I’m very sorry that you did not have a good experience with us. I’ve done a lot of research on your loan and have come to the conclusion that both parties tried very hard to close this loan.

It looks as if we explored every option possible to refinance your loan. And yes, you did comply with everything we needed. In the end, we denied the loan and refunded you your deposit, minus the costs we incurred on your behalf. We refunded you the remaining funds 9/1. You are also entitled to a copy of your appraisal and credit reports. If you did not get those, please let me know and I will get them for you.

We did uphold our end of the contract. Within your application is a document entitled “Interest Rate Disclosure & Deposit Agreement.” You signed it, agreeing to the terms of our deposit policy and authorizing us to charge it. The denial is explained on there – refund everything minus costs.

As much as we would have liked to close your loan, it simply would not work. We have not been able to find any indication that you were promised or assured that your income would not be a problem. That’s why lenders have conditional approvals – they’re subject to review of many documents by our underwriters.

Please know that this is by no means a “rip off” nor do we prey upon unsuspecting individuals. We made no money from this transaction and benefit in no way from upsetting our clients and not being able to close a loan.

Thank you for considering Quicken Loans. Although we were not able to close your loan, we do appreciate you as a client.

Please let me know if I can answer any questions for you.

Kelly
Quicken Loans
Kelly@QuickenLoans.com

A
A
arreeves
Clarksburg, US
Dec 18, 2009 10:25 am EST

Plus I forgot to say...It is your own stupidity for becoming self-employed when you have financial obligation like a morgage, enterprenuerships involve lots of start up costs. Duh

A
A
arreeves
Clarksburg, US
Dec 18, 2009 10:23 am EST

A deposit of faith, the $400 you spent is now Quicken Loans. Since you were offered a loan and did not take it you lose the $400. Its like when you first bought the house you had to give the realtor a deposit until the loan came through, If the interest rate of the loan you recieved was to high, tough you had to take it to get you deposit back. Thats life, well business...They don't care about you no company does, they are all here to make money...

ComplaintsBoard
M
9:20 am EST
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Quicken Loans mishandled and lied: stay away!

I applied for a refinance loan with cash out at Quicken Loans end of Oct 2009 (due to divorce in order to payoff ex-wife), and was promised a closing date of Nov 30th or sooner. My credit score is better than 740, I make over $75, 000 per year, and I have over 50% equity in my home. Per Massachusetts law, I am allowed to choose the title search company, so to save money I decided to go with Entitle Direct.com with Quicken Loans blessing. Quicken Loans was fully briefed of my divorce situation at the initial application of the loan request.

As time went on, I sent and signed all the necessary financial statements Quicken Loans required, then after awhile not hearing from Quicken Loans, I contacted them about a week before the proposed closing date about the status of my loan request. I was then told to contact Entitle Direct to see what the hold up was. After sending an email to Entitle Direct, they emailed me back and said that just that week Quicken Loans finally contacted them stating this was a divorce situation and that their underwriters would not accept "Power of Attorney" signature from my ex-wife's attorney since she had moved back to her native country. The divorce information should have been supplied by Quicken Loans in the initial stages of processing; they clearly dropped the ball on this one.

I then contacted Quicken Loans to tell them the news from Entitle Direct, and Mike Wegner from Quicken Loans told me that their title search company could "fast track" my title search and get the job done before the fast approaching closing date. I balked at this because I didn't want to pay for two title searches, and told Quicken Loans I'm going to contact Entitle Direct again to see what they would need to hopefully make the Nov 30th closing date. The next day I received an email from Entitle Direct stating Quicken Loans had contacted them and instructed them to put a hold on the title search...without my permission. I then contacted Quicken Loans again and confronted Mike Wegner expressing to him my displeasure about all this, and he said he would look into who at his company told Entitle Direct to stop processing.

After getting no answer as to who at Quicken Loans contacted Entitle Direct to stop processing the title search, I canceled my loan application through Quicken Loans and asked to be reimburse the $500 "good faith deposit" stating poor communication with my title search company throughout the loan processing and telling Entitle Direct to stop processing the title search without my permission.

A customer relations representative from Quicken Loans (Russ Keating) later contacted me by phone and email and told me I would not be reimbursed the $500 even though a professional appraisal was never performed on my home.

I lost my $500 deposit, and approximately $600 selling stock prematurely because of a promised Nov 30th closing date.

Read full review of Quicken Loans and 2 comments
Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

Hide full review
2 comments
Add a comment
Kelly@Quicken Loans
Kelly@Quicken Loans
Livonia, US
Dec 23, 2009 3:50 pm EST

Thanks for posting.

We’ve replied to your complaint with the BBB, so I’m going to paraphrase it here….our response does not change.

We want to close loans as quickly as possible. However, sometimes there are obstacles outside our control that prevent us from closing on the date a client requests.

At application, you notified us about your choice to use your own title company and of your decision to refinance to remove your wife from the loan due to your divorce. Like any lender, when a divorce decree orders a deed, we assume the deed has been prepared by the client’s divorce attorney. Regrettably, it wasn’t until very late in November that we learned there was no divorce decree.

Another obstacle we encountered was your request that we allow a Power of Attorney sign on behalf of your wife. Your title company let us know on November 23 that they would not allow that. Since we would be unable to obtain title insurance, transferring title using a POA was not an option through Entitle Direct. And although you state we requested Entitle stop processing your loan, we have no record that occurred.

We later learned the request from your wife was misunderstood – she simply wanted 30 days to review the documents prior to closing. Again, this made your requested closing date of November 30 impossible.

Although we estimate as best we can the date we anticipate a loan can close, we are unable to actually schedule a closing until our underwriter has given final approval. You withdrew your loan prior to final approval. At the time you notified us you did not wish to proceed, you indicated your reason for withdrawing was to allow time for your wife to review the loan documents. In order to afford you the additional time needed, we did offer to cover the cost to extend your rate while documents were reviewed. You declined our offer.

Pursuant to the Interest Rate Disclosure and Deposit agreement you signed at application, the entire deposit is retained since you chose to withdraw your loan application. If you chose to close the loan, the entire deposit would be credited against your closing costs.

We regret that you chose not to move forward. However, we do not agree that the delays in your loan process were the result of anything we said or did.

Since you’ve already spoken with Russ, I would like to direct you to him if you have any further questions. Should you not have his contact information, please feel free to get in touch with me – Kelly@QuickenLoans.com

Kelly
Quicken Loans
Kelly@QuickenLoans.com

E
E
ENTITLE DIRECT
Stamford, US
Dec 13, 2009 10:56 am EST

I am very sorry to read of your difficulties with your refinance transaction. From your account, it appears that you were satisfied with the responsive customer service that you received from ENTITLE DIRECT, which of course is our goal while saving consumers money on their title insurance and closing costs. Thank you for selecting ENTITLE DIRECT and we look forward to working with you in the future; if we can be of any assistance, please don't hesitate to contact us at [protected].

Regards,

Fred Kauber
CIO, ENTITLE DIRECT

ComplaintsBoard
O
5:24 am EST
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Quicken Loans ripped off 90 years old veteran

I am filing this complaint on behalf of my 90 year old Air Force veteran father. He was looking to reduce his monthly mortgage payment via a refinance. He came across Quicken Loans advertised 5% interest rate and was contacted by Michael Telekesy, a Quicken Loans rep who told him he could get a 5% rate and would only cost $400. He agreed and Michael came to his home to have him sign preliminary paperwork. At this time my father called me so I could speak to Michael directly to discuss the terms. I live in northern CA.He told me that the refinance would be 5% with approximately $2500 in fees and would save my Dad around $100 per month. I told Michael that if the terms changed that he should rescind the contract. On that basis I gave my Father the go-ahead to continue with the refinance. Several months later my Father called to tell me his new mortgage was much higher than it should be. I flew down to look over the paperwork to discover that his original $70K mortgage was refinanced into a $76200 mortgage with payments of $20 less than the original payments. The loan was also processed as a VA loan which carries additional fees than a conventional loan. Given my Dad's financial circumstances this is totally inappropriate. Quicken Loans explanation was that my Dad had to "buy down" to 5% which accounted for all the additional fees. Why did he promise 5% if he couldn't deliver? This loan should never have been written since it lacks financial soundness, it will take decades to recoup the cost of this refinance. If my parents were years younger I would be the first to say buyer beware but when you blatantly try to deceive a 90 year old Air Force Pilot veteran thats just sad.

Read full review of Quicken Loans and 2 comments
Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

Hide full review
2 comments
Add a comment
V
V
VAloanexpert
Overland Park, US
Dec 01, 2010 2:53 am EST
Verified customer This comment was posted by a verified customer. Learn more

We may be able to help. Visit www.myVArefinance.net. We are a bank and not a broker.

Kelly@Quicken Loans
Kelly@Quicken Loans
Livonia, US
Dec 23, 2009 4:18 pm EST

Thanks for posting.

We’ve responded to you previously through the BBB, so I’m going to paraphrase our response here, as it does not change.

We do not agree with your assessment of what transpired during your parents’ loan process. Your parents contacted us about the possibility of refinancing their home. Their goal was to lower their monthly payment so they’d have increased cash flow each month. We discussed several loan options with them and they ultimately decided on a VA loan.

In your complaint, you reference that the loan was only supposed to have $400 in costs. I believe what you are referring to is the $400 Good Faith Deposit we collect at application. We collect a deposit as a commitment to doing business with us, and to cover the cost of third party items such as the appraisal and credit report. When a loan closes, the $400 is credited back on the Hud-1 settlement statement, just as was the case at your parents’ closing. Please reference line 803 of the HUD settlement statement for confirmation the deposit was credited.

We certainly agree it is important that all costs are disclosed properly and we want our clients to make an educated decision to use our services. For this reason, we prepare a Good Faith Estimate (GFE) at application. When we compared your parents’ GFE to the settlement statement, we found his costs were actually $46.00 less than estimated. However, his required escrow reserves were about $500 higher than estimated. This difference was mainly due to the annual insurance premium being due at closing. Insurance would have been due even if they had not refinanced. Actual tax and insurance numbers are not received until we have obtained the title insurance commitment and insurance declaration page from the client’s agent. Because this is a VA loan we are required to escrow the taxes and insurance in monthly payment. This was documented on the original GFE. The GFE was signed by your father and was available to him, or his designate, at any time prior to closing.

As for the loan amount, the difference between what was on the signed GFE and the closing documents differed by around $300, simply due to the fact that your parents did not want to bring money to closing. Your father specifically asked that we restructure his loan so that the costs could be rolled into the mortgage.

They closed on this loan on July 27, 2009 and had three days to review their documents and cancel the loan without penalty. Additionally, we provided the closing paper work in advance and went over the final figures verbally with them. We understand that you do not feel that this loan was beneficial for your parents, however this does not mean that anything inappropriate occurred. There is no basis for any refund, as we disclosed the loan terms as required and worked towards achieving your parents' goal of a lower monthly payment.

If you have any further questions, feel free to contact me.

Thanks,

Kelly
Quicken Loans
Kelly@QuickenLoans.com

ComplaintsBoard
T
11:34 am EST
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Quicken Loans refinance house, as approved, ook my $500 dollars 6 months later still no closing. they have all paper work ness but change the story with every call.

Called Quicken loans, regarding refinance, they had me full out an application and ask for $500 dollars to lock in my rate and to move forward on the loan. Within two days Quicken called and said I've
been approved, they stated they needed proof of income and some other
papers incl, proof from IRS showing my filed income, some lien papers etc. Gave all ness paper work within two days, called to find out progress of loan, I was told it's in the hands of the underwriters.

Made numerous calls to Quicken loans, poor response time after leaving message, at times no response at all. I recieved a call
November 3rd stating we must close your loan NOW ! I explained Iwas going away and would not return until November 6th to sign all papers. The representative beacame Irrate and said he would get back to me. One week later I recieved a call, telling me my house must be reappraised and I would have to summit a new loan appliction. After
six Months and all commitments by this Company, I do think they owe me my $500 dollars back. PS: I'm now looking for another loan at the
appraisal fee of $400 dollars.

Read full review of Quicken Loans
Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

Hide full review
ComplaintsBoard
E
2:56 pm EDT
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Quicken Loans scam

WE also started a refinance with quickenloans. They took our credit card and charged 500 dollars and said we would get it back at closing. they said we were recording our conversation so we talked about the 500 in detail and told them our history and they swore it was not a scam. They took our money, we didnt get a loan our credit is excellent, and when we threatened with a lawyer that all was recorded, they could not find that recording how convenient. We didnot get our money back, we are going to take further action. has anyone got anywhere?

Read full review of Quicken Loans and 3 comments
Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

Hide full review
3 comments
Add a comment
H
H
handlebill
morland, US
Jun 11, 2009 11:01 pm EDT

They took my money, and I'm a 100% disabled veteran $400.00 they said they had the best rates and that was the 1st lie and then they said they would return my money that was the second lie...
If its says quicken on it stay away from it they will steal from you too...

L
L
lake14
Kimberling CIty , US
Dec 09, 2008 2:51 pm EST

I was scammed By Quicken Loans out of my 500.00 deposit .They took me for a ride it seams, I was told my money would be refunded loan or no loan,
Bryan Endresel and Laura Willsey have just scammed me out of 500, When will the FEDS get this company soon ther has been so many people taken by them .

K
K
kithenry
Destin, US
Nov 04, 2010 10:53 pm EDT

took my money quickly! loan process dragged on so long i cancelled it and then was given a link to deposit refund link after canceltion. why was this not disclosed in the first place rather than after cancelation. FRAUD!

ComplaintsBoard
A
12:42 pm EDT
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Quicken Loans fraud

Quicken told me I was approved based on the info I gave them. I sent verification including very personal information which they claimed was insufficient. I sent them my tax returns, bank statements, property tax appraisals on other income producing property, proof of insurance, trust interest earnings, etc. My home appraised for above what I told them and I only wished to refinace less than 2/3s it's value.They charged my credit card telling me it wouldbe deducted off of my closing costs but then declined the loan. RIP OFF! RIP OFF! RIP OFF! Lying, ### loan officers lie, lie, lie and are the ### of the earth telling you how much they want to help you lower your costs!

Read full review of Quicken Loans and 3 comments
Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

Hide full review
3 comments
Add a comment
J
J
jbryan
Otto, US
Aug 06, 2010 12:03 pm EDT

Beware- DO NOT REFINANCE THRU THIS COMPANY- MY wife wanted to refinance our home to lower our payment, to give us some breathing room. They told her that i have more debt than credit, HOWEVER, the loan officer in charge wanted to do the loan in MY name as the first borrower. I told them that the loan would not go thru, but they told us we already were qualifiied, and that we would close on the 31st. Then they got an appraiser who said we would have to put up hand rails on the porch, COST ME 700.00. Got that done. Then they changed the numbers on the loan. After that, they requested the 4506- 3 times, and then they made us send them our W-2's, LONG FORM. After all the B.S., and after i lost the phone, satelite service, and am about to lose my truck, they call on the 30th, to say that the loan wont close after all. They said they were going to refund the 21 bucks where i sent the overnite with the W-2's, but havent gotten that, OR the part of the deposit they were "SUPPOSED" to refund. I said from the start that this was a SCAM, and sure enough. Wife should have checked out this complaint board FIRST. I have logged a complaint with the Michigan Attorney Generals Office, ANYONE ELSE THAT WANTS TO JOIN A CLASS ACTION SUIT AGAINST QUICKEN LOANS, PLEASE CONTACT ME AT www.pupsforyou1@dnet.net or [protected]. I am going to contact an attorney, and see if i can get a class action suit started against this VERY IRREPUTABLE BUSINESS.

BEWARE OF THIS COMPANY, ALL THEY WANT IS YOUR DEPOSIT, AND WILL WORK DILIGENTLY TO GET IT. THEY DO NOT NEED TO REFINANCE YOUR LOAN, THEY JUST WANT THE DEPOSIT, AND WILL TURN THE LOAN DOWN JUST TO GET IT!

Y
Y
yippa
, US
Oct 11, 2013 1:18 pm EDT

quicken are ###. they constantly harrass me with phone calls when all I did was ask for a mortgage PRE approval. since then they repetatedly call me even though i told them not to

G
G
6grandkids
Griffin, US
Aug 19, 2010 6:49 am EDT

also have had a bad experience with Quicken Loans We have A1 credit and we were told as long as our home appraised for 100, 000.00 we would recieve the loan with a 500.00 GOOD FAITH payment but, I asked what happens if the loan is not approved will I get my 500.00 back? Of course said the loan officer that will not be a problem. So we proceeded with the loan and sent doc online to them also faxed several papers. The first appraisal came in at 196, 000.00 but, they said it wasn't enough to not charge p&I so they said they would pay half of 300.00 for their field appariser to take another look. At that time we had alot of $ and time involved so we did the extra appraisal. It came in much lower and that when they told me that we were declined because of our home value they also said that the 500.00 would not be refunded because of loan fees. This process took 4 weeks! I have contacted my credit card company for stop payment in process now. i tried to print the apprasial online and it was decline so unless they send me BOTH appraisal I should be refunded my 500.00 on my credit card. (just a sideline ALWAYS use a credit card for large purchase) I was mislead and this is fraud! PLEASE stay away from this so called company.

ComplaintsBoard
D
8:34 pm EDT
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Quicken Loans rip off artists

Will fowler told me that i was preapproved then after my (good faith money) reached their account did the appraisal, and then after all that they denied my loan. now why would he do all that on the same day. i have heard of nothing good about quicken loans, all they want is your money and then as soon as they get it, they screw you over. will fowler was rude the whole time, he never listened to what i said, he pretty much said just sign your name, or he would change the subject. so if you are thinking about applying with quicken loans i would highly advise you against them, they are only out for the money, then they dont care, i just wish i would of researced a little more, but i did a little too late and now im out all my money. will fowler tried telling me it was my realters fault for going ahead with the appraisal, when he had nothing to do with it, quicken loans is the one that hurried up and wanted to get it done so that they didnt have to pay me back. the loan officer is the one that asked for the appraisal not the realter.,
so PLEASE STAY AWAY FROM QUICKEN LOANS AND ALSO IF YOU GET A GUY BY THE

Read full review of Quicken Loans and 1 comment
Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

Hide full review
1 comment
Add a comment
J
J
Jack
, US
Apr 19, 2009 7:28 am EDT

During my search for a company to use to refinance my home, Quicken Loans called me. After giving them general info, I was told that I was 'just the kind of person they were looking for'. I should have gotten the message right then.

The representative called me back in about an hour and gave me arste and their monthly payment. I told him that didn't match up with other bank offers I had -- the Quicken rate quote was lower but the payment was higher.

I asked him what mortgage amount he was using and he being to answer very vaguely. I asked if he could give me (fax or mail) a good faith estimate of costs and he said there didn't do that until I had made an application (and likely paid a fee for the application.

At that point I realized I was talking to a reputable firm (what loan outfit won;t give you costs?) and very, very Quicken-ly (pun intended) got off the phone.

This is not the company to use for a loan!

ComplaintsBoard
P
8:21 pm EDT
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Quicken Loans crooks

Loan officer Lydia Garza quoted me a monthly payment reduction of over $200 to refinance with them. She told me I had to give her my card number to lock in the rate before she could send me a good faith estimate. Once she sent me the good faith estimate I saw why my rate was so much lower. She lowered the amount taken out to pay my real estate taxes by $200. Now they do not want to refund the $400 eventhough I was LIED TO! Thesse guys are shady and corrupt. I'm not sure why HUD lists them as acceptable lenders. They are crooks!

Read full review of Quicken Loans
Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

Hide full review

Quicken Loans Customer Reviews Overview

Quicken Loans is a highly reputable online mortgage lender that has been in business for over 30 years. The company has received overwhelmingly positive reviews from customers, with many praising its excellent customer service, fast and easy application process, and competitive interest rates.

Customers appreciate the convenience of being able to complete the entire mortgage application process online, from pre-approval to closing. Quicken Loans also offers a wide range of mortgage options, including conventional, FHA, VA, and jumbo loans, as well as refinancing options.

Many customers have also praised the company's transparency and honesty, with Quicken Loans providing clear and upfront information about fees and rates. The company's website is user-friendly and provides helpful resources, such as mortgage calculators and educational articles.

Overall, Quicken Loans is a highly recommended mortgage lender that provides excellent service and competitive rates. Its commitment to transparency and customer satisfaction has earned it a reputation as one of the best online mortgage lenders in the industry.

Quicken Loans In-depth Review

In summary, Quicken Loans is a well-established online lender with a comprehensive range of loan products and a strong focus on customer service. While they offer competitive rates and fees, it's important for potential borrowers to consider the full spectrum of their services, including the ease of the application process, the quality of customer support, and the company's financial stability, before making a decision.

Company Overview

Quicken Loans, known for its online lending services, has a history of facilitating home financing for many customers. They offer a variety of financial services, focusing primarily on mortgage loans and refinancing options.

Loan Products

  1. Fixed-rate and adjustable-rate mortgages
  2. FHA and VA loans
  3. Unique products like YOURgage, which allows customizable loan terms

Application Process

The application process involves several steps, including pre-approval, home appraisal, and underwriting. Documentation such as income verification and credit history is required. Quicken Loans provides an online application experience, with approval timeframes that are competitive within the industry.

Rates and Fees

Interest rates are in line with industry standards, but it's important to compare with current market rates. Closing costs and other fees are present, and the fee structure is relatively transparent.

Customer Service

Customer service is accessible via phone, email, and chat. They are known for their responsiveness and the quality of support provided. Customer service hours are extensive, catering to a wide range of time zones.

User Experience

The website is user-friendly, and the mobile app is functional with generally positive reviews. Online tools, like loan calculators, add value for users.

Client Testimonials and Reviews

Many customers share positive experiences, particularly highlighting the ease of use and customer service. However, there are complaints typical of large lenders, such as issues with loan servicing. Overall, customer satisfaction ratings are strong.

Financial Strength and Stability

Quicken Loans holds a strong market position with a reputation for reliability. Financial health indicators are positive, and the company has received numerous awards and recognitions.

Refinancing Options

Refinancing with Quicken Loans is straightforward, with clear benefits outlined. It's advisable to compare these options with other lenders to ensure the best deal.

Additional Services

Quicken Loans offers additional services like mortgage calculators, and they have partnerships with Rocket Homes and Rocket Loans.

Educational Resources

They provide educational materials for borrowers, including workshops and financial literacy initiatives.

Community Involvement

The company is involved in corporate social responsibility efforts and has a strong presence in charitable programs and community outreach.

Pros and Cons

  1. Pros: Strong customer service, comprehensive loan offerings, user-friendly technology.
  2. Cons: Potential for higher fees, some complaints regarding loan servicing.

Conclusion and Recommendations

Quicken Loans is a solid choice for those who value a robust online application process and strong customer service. It is particularly recommended for borrowers who prefer managing their loans digitally.

Comparison with Competitors

Compared to other lenders, Quicken Loans offers a competitive suite of services, especially in terms of technology and customer support. However, borrowers should always compare rates and fees to ensure they are getting the best deal.

How to file a complaint about Quicken Loans?

Here is the guide on how to file a complaint or review about Quicken Loans on ComplaintsBoard.com:

1. Log in or create an account:
- Start by logging into your ComplaintsBoard.com account. If you don't have an account, create one to proceed.

2. Navigating to the complaint form:
- Locate and click on the 'File a Complaint' button on the ComplaintsBoard.com website. You can find this button at the top right corner of the website.

3. Writing the title:
- Summarize the main issue with Quicken Loans in the 'Complaint Title' section.

4. Detailing the experience:
- Provide detailed information about your experience with Quicken Loans. Mention key areas such as transactions, the nature of the issue, steps taken to resolve it, personal impact, etc.

5. Attaching supporting documents:
- Remember to attach any relevant supporting documents but avoid including sensitive personal data.

6. Filing optional fields:
- Use the 'Claimed Loss' field to state any financial losses and the 'Desired Outcome' field to specify the resolution you are seeking.

7. Review before submission:
- Review your complaint for clarity, accuracy, and completeness before submitting it.

8. Submission process:
- Submit your complaint by clicking the 'Submit' button.

9. Post-Submission Actions:
- Regularly check for responses or updates related to your complaint on ComplaintsBoard.com.

Ensure each step is clearly defined to guide you effectively through the process of filing a complaint or review about Quicken Loans on ComplaintsBoard.com.

Trust badge
Collect Your Trust Badge
Be recognized for outstanding customer service

Contact Quicken Loans customer service

Phone numbers

+1 (800) 251-9080 +1 (800) 718-8233 More phone numbers

Website

www.quickenloans.com

Your Voice Matters: Our Commitment to Genuine Reviews

Empowering Real Experiences

At ComplaintsBoard, we believe in the power of true customer stories. Our platform is a space for authentic voices, where experiences, both good and bad, are shared openly and honestly.

Dedicated to Authenticity

ComplaintsBoard is vigilant in our fight against false reviews. Our team employs robust verification methods to ensure every review reflects a real customer experience, upholding the integrity of our platform.

Encouraging Detailed Feedback

ComplaintsBoard values reviews that come with real evidence. Whether it's a photo, a detailed account, or additional documentation, such substantiation adds credibility to your story, helping others make better-informed decisions.

Balanced and Constructive Conversations

We're more than just a complaints board; we're a community for balanced dialogue. ComplaintsBoard encourages reviews that not only highlight issues but also acknowledge positive aspects, fostering a fair and comprehensive understanding.

Free and Fair Platform

ComplaintsBoard's commitment to maintaining a free and unbiased platform is unwavering. Every review is treated equally, ensuring that your voice is heard and respected, regardless of the nature of your experience.

Is ComplaintsBoard.com associated with Quicken Loans?

ComplaintsBoard.com is not affiliated, associated, authorized, endorsed by, or in any way officially connected with Quicken Loans Customer Service. Initial Quicken Loans complaints should be directed to their team directly. You can find contact details for Quicken Loans above.

ComplaintsBoard.com is an independent complaint resolution platform that has been successfully voicing consumer concerns since 2004. We are doing work that matters - connecting customers with businesses around the world and help them resolve issues and be heard.

Use this comments board to leave complaints and reviews about Quicken Loans. Discuss the issues you have had with Quicken Loans and work with their customer service team to find a resolution.