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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.
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Quicken Loans reviews & complaints 261

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12:40 pm EST

Quicken Loans did not disclosed money needed at closing

QUICKEN LOANS is a ripoff, did not disclose money needed at closing. denied first loan then second loan was a nightmare with constant documentation and even wanted my mother in laws bank account statement because she gave us 5000 dollars for other reasons.then told me i needed 5000 dollars for closing when first told closing cost would be included, gave me a run around about the appraisal not being high enough and that my second mortgage lender GREENTREE governed how much money that they[QUICKEN LOANS] could lend me and we were short the 5000 dollars, pretty coincidental the amt was 5000 dallars. lost my 500 dollars as well.

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lila20111
, BR
Mar 08, 2011 12:53 pm EST

UGG Boot ist both comfortable and warm.
It would help you show your beauty and in cold winter und keep you warm.
Online shop http://www.uggbootshop.de/

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3:35 pm EST
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Quicken Loans untrustworthy loan team

I contacted Quicken Loans (Josh Martens) for a home re-fi loan. There's a $500 deposit that is non-refundable that I made based on the loan rate Josh told me I could get after checking my credit and collecting income and home value data. I proceeded to have the loan initiated and when the first set of paperwork arrived I discovered that the loan processor (Josh) overstated the value of my home from what I'd told him by $90, 000. I was told by Josh and a subsequent banker that called to validate the info that it wasn't a problem. I was clear that I wanted a conservative estimate on the value of the home so there were no surprises. Before an appraisal was completed or providing any other information on the home, the loan processor told me the paperwork had been revised and the original loan I was offered wasn't available based on changing the value of my home from HIS overestimate by $90, 000. I reviewed the subsequent/modified paperwork, found enough discrepencies to make me concerned, and ultimately determined that I didn't trust Quicken Loans enough to proceed. I feel very scammed by this company. Despite THEIR error in the paperwork, I am told it's MY problem and there will not be a reimbursement of the $500. Can't even tell you how annoyed and disappointed in this company I am. Going to put a lot of effort into letting folks know about my experience so they don't get $500 from the next person where they "accidentally" alter the figures on their paperwork.

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dbamize
Forsyth, US
Jan 04, 2012 5:53 pm EST

I just wanted to state that I just closed on my home loan with Quicken Loans and actually used this same banker, Josh Martens. He did an exceptional job, along with the others I dealt with. I am only commenting on this due to I almost didn't use Quicken Loans because of this comment due to I had no previous history with them. Please know that they did a professional job, and Josh did an outstanding job. They actually OVER communicated with me ever step of the way and I never had a question. If I did it was answered within minutes usually if not within the day. Great job again! Jennifer (Forsyth, Georgia).

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KellyQuickenLoans
Detroit, US
Nov 23, 2011 9:09 pm EST
Verified customer This comment was posted by a verified customer. Learn more

Hi - my name is Kelly from Quicken Loans. I'd like to provide some context to this story.

While there was an initial mistake in our recording of the estimated value, the banker immediately corrected it and we provided updated paperwork, which was signed by the client. We absolutely still had a loan that made sense for this client, it was fully explained, and the client agreed.

A few days later, the client refused the loan. Per our deposit policy, since the client had agreed to the updated terms, the deposit was not refunded. The client signed a document agreeing to that policy. It can also be found on our website for anyone to see: http://www.quickenloans.com/about/quicken-loans-deposit

If there are any questions about this loan or any others, please feel free to contact me directly: kelly@quickenloans.com

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FredCA
, US
Nov 23, 2011 1:28 pm EST

I hard time believing the story above is accurate. If you have ever worked with QL before, you know that they always over communicate and like the previous posts say, you get a document in your application that asks you to verify the value. Also, QL has their deposit policy right on their website. The $500 deposit is always refunded minus the cost of the appraisal and credit report. There is no such thing as a non-refundable deposit. I have worked with Josh on many loans and never had any issues at all. QL and Josh have always gone to battle for me to get my loans closed.

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alan54
, US
Nov 22, 2011 8:00 pm EST

My family and I have refinanced with Quicken many times. Not once has this ever been an issue for any of us. In all the documents that I have received in preparation to do a loan I am not sure why you would sign the documents if it wasn't correct to begin with. In my 3 mortgages that I have refinanced with Quicken never have I felt this way.

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Lion111!
, US
Nov 22, 2011 7:34 pm EST

I have done several loans with Quicken and they prevent this. They send documents to me before the loan is even started that requires me to sign off on what I believe my home is valued at. Unfortunately with the current housing market, homes are valued a lot less than what we bought them for.

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6:48 pm EST
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Quicken Loans refi - home loan

Don't Use Quicken Loans! you can save money and time going else where.

I call them about refi my house and talked to a Berton(Burt) McLain, Executive Mortgage Banker with Quicken Loans
I had 3 things i wanted to do, Take my wife off the title, do a streamline FHA refi, and lower my monthly payment

My credit is great, i have a little cash to refi with, Burt assure me it would not be a problem, then he sai i did not have an FHA loan. (WRONG!)
Burt told me to get my wife off the title would not be a problem (WRONG)
Burt also told me i would say 180 a month and only have to bring $480 to close. (Wrong)
it became apprarent that this guy had no clue of what he was doing.

they made me jump though hoops trying to get this stupid loan and i could never call and talk to Burt directly, i ended up talking to his boss Adam, but Adam did seem to care but never did anything.

Latter he told me i would have to pay and extra $40 a month for only 10 months, i check and recheck with him and asked for proof on this with an amerazation

I really could go on and on with tons of details about this messed up process but i will not, just understand that i have done other refi in the past with my rental house and the purchase of this house and have never been screewed around with so much. Never use Quicken loans, they suck.

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7:52 pm EST

Quicken Loans Disaster

About three years ago my husband was injured in a bizarre accident that left him disabled. Our home had just been paid off completely & we should have been relaxing, but instead we had to remortgage the house so that credit cards could be paid off & we could create a cushion until disability kicked in. The worst thing was having a new mortgage payment at a rate of 12.99%.

In September of 2010, with interest rates dropping to drastic levels, I decided to try to get our interest rate lowered. First of all there is no such thing as a free estimate – Quicken Loans would not talk to me until "earnest money" was paid. For me that amounted to $500.00 that I honestly did not have unless I put it on a credit card. So much for trying to live CASH ONLY.

Then I found out that in Texas it is a law that a home must be appraised every time an owner wants to refinance. It does not matter that the home was appraised just a little over a year before - it must be appraised again. I don't know if that is true or not, but I wanted to comply with everything Quicken asked. The owners (or in this case, my husband & I) are at the mercy of the appraiser. When the appraiser came to our home, I was in the middle of trying to reorganize boxes of collectibles and books) that I had inherited. Also, my son was leaving all of his possessions as he prepared to relocate to Ireland where he will get his Master's degree. To say the least, it was not a good day for an appraisal, but I wanted to get the ball rolling.

The appraiser indicated on his report that "flooring had to be replaced", the stairs had to be carpeted, the master bedroom needed new carpet, and the most insane thing of all - a gas meter had to be installed. Although I explained to the appraiser that we lived in an all-electric home (electric water heater and oven for cooking, Amish portable heaters for winter warmth, etc.) Quicken Loans made it mandatory that not only did we have to re-carpet our home, but we had to also order a gas meter to be installed. This was because at one time we had had a gas furnace for heat. Even though we had not used the furnace for the last five years, the appraiser insisted to Quicken that before any refinancing was discussed, all improvements must be made., including ordering a gas meter at our expense.

My husband & I were struggling with the large mortgage as a result of the high interest; hence, the inquiry into lowering the interest rate. We had no money for the improvements that Quicken Loans insisted we make. All work had to be done by my disabled husband & myself and it had to be done at our own speed since we could not afford to hire anyone. In order to keep from running up our credit cards again, we paid cash for everything...and that caused certain bills to go unpaid. My husband and I complied with everything Quicken Loans required, including all the cosmetic improvements and a deposit on a gas meter that was completely unnecessary. Every day Quicken would call to question when the improvements would be finished because we could close “shortly” after that. When I would try to explain that we had no money and my husband was legally disabled, I was continually told that time was ticking and the interest rate was only locked in for a very short time. No one would listen to anything I said!

Long story short, improvements were made because we were told they had to be made, my credit rating fell because I only had enough money for the required carpet, deposit on the gas meter, etc., causing me to fall behind on bill payments. Then after the improvements were satisfactorily approved by the appraiser, the Client Care Specialist (Quicken Loans) assured me we would be “closing soon”, so I did not pay my mortgage and Quicken Loans denied us after all because my credit rating dropped. Now I have lost my home by being behind on the original over-inflated mortgage.

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pete
new creek, US
Dec 12, 2008 3:46 am EST

I did a second mortgage in March of 2006 with Quicken Loans. I told the appraiser that I did not want one of my 2 acre lots on the mortgage. I told them there was enough equity with my home and the 4 acres that the house sits on. I sold the lot that I asked them not to place a lein on. Sure enough the 2 acres had a lein placed on it with out my knowledge. This was discovered 9 weeks ago and I still have not received a partial release of the land. I would not recommend Quicken Loans to anyone. It was stated on the URAR that the lot in question was not be included on the 2nd mortgage. I am going to contact my lawyer to try and get the release. It is a shame that this is the way that Quicken treats there customers.

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AndieV
Grandview, US
Jul 03, 2012 12:01 am EDT

I started the loan process in December of 2011, they denied my loan at the end of June. When we started out I was told I could get 10k more than what I owed on my current mortgage. They dragged their feet for months. I dealt with several different people who never talked to each other so I had to email the same paperwork to several people and then upload it onto their site. Every time I contacted them they needed something new.

When the appraiser was sent to my house I was told I needed new carpet. Now not only can I not make my current mortgage payment but now I owe 4k for carpet. They lied to me several times and left out a lot of information. At one point I was told I needed $1300 in assets and didn’t have it. I then came up with the money and was told it was “suspicious” and they wouldn’t accepted it. They then went on to tell me what I was and wasn’t capable of doing.

I’ve never been late on a payment in my life and now I’m 2 months behind. I was then told that we would close at the end of the first week in May so I didn’t make my May payment, my mistake. They continued to drag their feet and then my payment was late and my credit score dropped big time. My current mortgage is in default and I will be losing my home soon.

Now I can’t refinance my home with anyone, I can’t make my mortgage payments, and thanks to Quicken Loans there will be another homeless veteran.

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12:57 pm EST

Quicken Loans rude customer service

Rude customer service charged to much for closing costs.

When I called CS they could not lift a finger regarding my questions

on my current loan. I got an excellent rate, but paid for it big time with closing cost. The customer service is awful when i called about my margin and what index my payment would be adjusting too. they are rude

They are money hungery people charging all these fees.

They quoted my a 6-month index adjustment and when I received the paper work it ended up being the 1-year which will cost me more money in the long run. When i called back about it this man Will said there was nothing he could do about it.

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11:58 pm EST

Quicken Loans didn't provide enough info on appraisal

We recently contacted Quicken Loans about refinancing a mortgate held by a company that does not do refinancing. They simply own the mortgage and partner through Quicken for refinancing needs such as ours. Our options for attempting a refinance were limited to Quicken because the house has lost value, and only your current lender is required to attempt refinance in these cases. I had read the reports on Quicken, but had no choice if we wanted to attempt refinance.

I expressed my concern about the up front cost for the appraisal and whether it would return a value that would allow us to proceed based on a market report I'd recently received through my real estate agent that was based only on recent sales of 2 bedroom/1 bath houses. I provided the value from that market report to the Quicken loan processor along with information on a recent sale of a similar home next door with similar square footage, but a 3 bedroom/2 bath configuration. I was encouraged to go forward with the appraisal.

I was not told the appraisal would be limited to recent sales of 2 bedroom/1 bath houses regardless of square footage. The comparables were less than 1, 000 square feet in two cases, and our house is almost 1, 600 square feet. The only comparable close in square footage was a condo.

Had I known the appraisal would be conducted as it was, rather than as our purchase appraisal was done (homes of similar square footage regardless of configuration), I would not have proceeded and not have lost the appraisal fee.

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8:31 am EST
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Quicken Loans scams

I know a few people that work for quicken loans and one of them I know pretty well, they brag about scamming and ripping people off, the drug use that goes on, and their" at work relationships" they even told me how they have training to scam people, I honestly feel this place should be investigated by the feds, and put out of business, they don't hire experienced people so they can train new hires their way, one person that works for them started off doing mortgages but just couldn't do it "their way" so they sent that person to a sister company that doesn't deal with mortgages, I really hope the feds step in and shut them down for good!

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5:04 pm EST
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Quicken Loans the real story of quicken

I am a former employee of Quicken Loans/One Reverse Mortgage. I assure you that I am of the highest ethical character, and that when I was hired, I sincerely believed that I had landed a solid, reputable career with a distinguished company. Turns out, I was among 200 people in my hiring class who thought the same thing. You see, QL hires approximately 200 people each month. 90% are, like me, recent college graduates looking for our first post-college jobs. Throughout the initial orientation which lasts two months, we are fed a steady supply of popcorn, slushies, and other "hip" foods, persistently told that we are the brightest and best in the Metro Area (the headquarters is in downtown Detroit), and that we all will soon be making $100k annually as soon as we prove ourselves. After training, much of which is mandated by the recent passage of the federal SAFE Act and it's licensing requirements, we are put on the sales floor. At that point, all the things we learned in SAFE training becomes completely irrelevant... because we aren't mortgage loan originators, rather, we are telemarketers and our sole purpose is too remain constantly dialing the phone, speaking to anyone who put a phone number anywhere online, and convince them to take a deposit. NO BODY YOU SPEAK WITH AT QL IS A MORTGAGE EXPERT. They are all young, brand new kids who are being monitored incessantly by supervisors. They have a quota of sales calls that must be met daily. Their job is not to "work with" clients on finding a suitable mortgage product based on client needs, but to as quickly as possible sign clients up to the most lucrative deal possible. I lasted five months: Two months in training, two months as a cold-calling telemarketer for Reverse Mortgages, and one month as a full "mortgage banker". Then I quit. A huge majority of the 200 people I hired on with will not be there one year later. The pay is NOT $100k, the work is not intellectually challenging (we are, after all, college grads), and by no means should any of those sales reps be considered mortgage experts. They are not. I was not. I have a hunch that QL's business model requires hiring college kids who are bright enough to pass the licensing requirements, then put in automated sales roles designed to reach as many potential clients as possible (bulk matters). We are promised the moon and the stars and continuously told how great we are. We get very pumped up (almost cult-like). We dial the phones from 8am until 8pm, 6 days per week, DESPERATE to get clients enrolled in refi, purchase, or reverse mortgages. We get $9 per hour to do this. After 6 months to a year, everyone is broke, exhausted, and finally quit. But QL doesn't mind, they have hundreds more in the pipe going through the various stages of training ready to fill the void at any moment.

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Lisa43
Texas, US
Dec 05, 2011 8:23 pm EST
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Thanks for all that said about this company.. I am so Happy I never went so far to listen to them about a loan. I was interested in knowing why they seemed so proactive to get me in there for a loan.. I read why now..

Thanks for saving me the hard ache..

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Jpetwsu
Detroit, US
Dec 03, 2011 6:30 am EST

I have worked there for years and yes, I went through the hype, the low pay in the beginning and yes, the mental exhaustion. But a few years into my career I make a lot more than an average salary. I get a kick out of these college grads who get shocked to find out you have to bust your ### to be above average. This place has offered so much to me and my family these kind of reviews really bug me. At no time during the recruiting or hiring process are people led to believe they can make $100k without sacrifice and hard work, especially your first year or so.

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Sales Rep with integrity, MI
Madison Heights, US
Mar 12, 2011 4:34 pm EST

Thank you so much for saving me from yet another disappointing hype job by a company that builds it's foundation on scamming honest hard working people out of their money. I'll add it to the list of North American Bankard, Comcast, Hansen Windows and the like. Everything you said, the 8 weeks training, the internet and sales calls, the atmosphere, and mentoring was all discussed with me about the job when Amanda H. the Recruiter called me this week about the position. You saved me another headache, and I can't thank you enough! Best wishes to you in your future endeavors I hope you find a deserving company to work for, one with integrity and morals.

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4:00 am EST
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Quicken Loans lack of information leading to unnecessary fees

I filled out an online request in October to refinance my townhouse in Missouri . I got a great response in the beginning...then weeks turned into a month...called to find out the girl handling my account "moved on". A new person took over, set me up for VA loan, sent an appraiser out for a look...found out (now 3 months later) that my home is actually a "condo" and VA does not loan to "condo's" anymore...would have been nice to know this before I spent $400. Don't expect them to be professional either, the use of their personal cell phone allows them to act like a**holes since there is no recording "for quality assurance"! BE AWARE>>>

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3:07 am EST
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Quicken Loans $500 deposit and the kelly game

This company took a $500 deposit on an overextended credit limit, knowing that I needed to make this loan work or I would sink fast in the treacherous financial market exacerbated by Quicken Loans policies. The credit card owner Citicorp refused to take back the deposit and this too has stung me! I was thrown into a debt cycle that I still am trying to negotiate, and if I received a fair and honest loan, I would have been out of this problem at this time. This happened in 2009, and I did not have any fees since I withdrew my contract within 24 hours, since what was said and what was offered did not add up. Unfortunately I did not check this site, or know it existed, and instead chose to look at the BBB rating which is skewed towards business rather than the public.

Now there is a full-time bimbo named Kelly that is responding to people shafted by the unethical policies of this company. The representative Kelly pretty much writes from a script, which I imagine with a lot of time, and hard work, one can become quite efficient. The people one deals with at Quicken Loans will record your conversation/order, which tells you right away about their product since this is a huge red flag that tells people who purchase this product they may not be happy at all, and Quicken needs to refer back to the old adage that we have your voice confirmation on tape ploy. I know since they did it to me. They also conveniently lost the recording when it came time to review documents to consider a return of my deposit. They now have a new set of policies in place. They will try and get you to keep the product by telling you of all the benefits, extending your paper process period etc. but you will not get back your deposit. If anyone is really considering keeping this gem of a loan, if they call customer service and are firm in their desire to have the loan product, Quicken will be using their inspector to negotiate the cost of your house down to almost nothing. This is a NO WIN situation for the financially strapped customer and a windfall for Quicken Loans.

Go ahead and give Kelly a call, or send a message, and ask for a return authorization for your deposit. They will try and get you to keep the product by telling you of all the benefits, extending your paper process period etc. but you will not get back your deposit. If you are really considering keeping this gem of a loan, go ahead and call customer service, and chances are that by being firm in your desire to have the loan product, they will first negotiate the cost of your house down to almost nothing. This is always a customer LOOSE/Quicken WIN situation. This is hardly a business that should brag about having a BBB rating of A+ that they bought by financially supporting this local bureau.

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BeCareful,VeryCareful
Tempe, US
Oct 22, 2011 10:49 pm EDT
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BBB ratings are another scam and should be avoided at all costs. I've been burned by them before. All companies have to do is pay their annual $450 fee and the have virtually bought an A+ rating.

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5:27 am EST
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Quicken Loans misleading information for loan refiancing

Quicken Loans is the cattle call of home refinancing. They make you give them a deposit and sign a deposit agreement and promise you will get the deposit back. When you question the numbers on the loan documents they reassure you that everything will be "fine. I refinanced many times in the past and was never misled by any of them, so I assumed this loan agent, Jason Dubois was telling me valid information. Well it was all a scam. My house appraisal didn't come in high enough and I didn't have $10, 000 to pay down my loan so I didn't get the loan. However, since I signed the deposit agreement I was out the $500. The loan agents can say whatever they want to get you to give them credit card numbers and to sign loan documents, but are not held accountable for what they say. Would not recommend using this company for ANYTHING!

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Quickenbegone
Philadelphia, US
Jan 02, 2011 1:08 am EST

Though canned this information may be useful to you if you wish to make your complaint known. The more that complain the greater the chance something may be done. The FTC should be your #1 contact!

Contact Your United States Senators

Every state has two United States Senators. Senators are elected on a state wide basis and represent your entire state in Washington D.C.. Your United States Senators have enormous power and enormous influence. A simple letter or phone call from a U.S. Senator's office can move mountains. Every United States Senator has an office that deals with constituent complaints involving a number of issues -- every problem imaginable are handled by your United States Senators' office. Plus, they want to get re-elected and they serve their voters not the business.

http://www.senate.gov/

Contact Your United States Congressman/woman

Unlike Senators, your state has anywhere from one to over 50 United States Congressmen/women. In your congressional district, you have ONE United States Congressman/woman. Like Senators, members of Congress deal with a huge amount of voter problems -- you name the topic, and they can and will help you.

https://writerep.house.gov/writerep/welcome.shtml

Contact The United States Department of Justice

The Department of Justice is the federal government's chief law enforcement agency and prosecutorial office.

http://www.justice.gov/

And my favorite:
Contact The Federal Trade Commission (FTC)

It is the only federal agency with both consumer protection and competition jurisdiction in broad sectors of the economy. The FTC pursues vigorous and effective law enforcement; advances consumers’ interests...
This is the agency that companies fear.

http://www.ftc.gov/reports/index.shtm

Contact The Securities and Exchange Commission (SEC)

This agency regulate all companies that are trading stock publicly. They also are very concerned with companies who engage in fraudulent activity which might manipulate their stock price and give investors a false picture of the truth of a company's heath.

http://www.sec.gov/complaint.shtml

Contact The Internet Crime Complaint Center (IC3)

Report the offending company to this feared and effective government task force. Your aim here is to highlight the criminal and fraudulent nature of the companies activities. You must be able to detail how they wronged you and stole your money.

http://www.ic3.gov/complaint/default.aspx

Contact The Council of the Better Business Bureau

The Better Business Bureau is another group that many businesses need to answer to -- first it has enormous influence and second, many businesses are members. Since it is paid for by businesses it may not be as effective as the government agencies that are created to protect you.

http://www.bbb.org/

Contact The National Consumer Law Center

"The National Consumer Law Center (NCLC) is the nation’s consumer law expert, helping consumers, their advocates, and public policy makers use powerful and complex consumer laws on behalf of low-income and vulnerable Americans seeking economic justice.
Today’s consumer marketplace is complex and full of potholes, even for those of us with all the necessary skills and advantages. For unsuspecting low-income consumers it’s far more treacherous - even the smallest misstep can lead to financial ruin and a sense of hopelessness that paralyzes individual progress."

http://www.nclc.org/

Contact The National White Collar Crime Center (NW3C)

They will help you with filing a complaint against the company showing you how to do it and provide other resources. White collar crime is a term coined for something that many businesses engage: it is fraud and outright theft committed by those wearing a white shirt and tie to work everyday.

http://www.nw3c.org/overview/what_we_do.cfm

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jones2007
Poughkeepsie, US
Dec 28, 2010 9:47 pm EST

Please see attached link:

http://www.jdpower.com/Finance/ratings/primary-mortgage-origination-ratings/

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3:38 am EST
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Quicken Loans deposit scam

Here is the story of how my present crisis has been created by the companies that are supposed to make a profit, yet also are supposed to help the people they serve.

I first saw a site that states: “Obama Urges Refinance Now, $180, 000 Refinance under $999/mo. See Rates – No Credit Check Required, on www.CalculateNew Payment.com. “

One enters the site and am confronted with the headline “US Treasury Bailout of Fannie and Freddy, Refinance with More Confidence, and there is a calculate new payment requirement using CalculateNewPayment.com. “

The person entering the site then fills out a series of forms that contain personal information including our social security numbers.

I was then contacted by the representative Abbey Wrysch, whose title is Executive Mortgage Banker-President's Club, for Quicken Loans. She was my first contact.

(An ironic side note, Quicken Loans Refinance is the second advertiser listed on:
http://www.consumeraffairs.com/finance/quicken_loans_mortgage.html
A site for consumer complaints about Quicken loans!)

After quite a few discussion online and on the telephone, with a sense of emergency Abbey Wrysch pushed for me to go online and electronically sign a couple of forms. Here is an out -take in Abbey Wrysch’s own words: “I can't provide a good faith estimate until I accept your application. Once I receive your application I will have an approval including a full set of loan documents within an hour. Let me know when you are ready...” In this way I could lock in the lowest interest on record. I should have known that signing papers before on receives a good faith estimate is a red light! Only this is new to me and I was, and am, desperate.

Not knowing anything about how refinancing worked I followed her instructions thinking that she was representing me. She led me to the page and guided me to the place where to click to electronically sign the forms. This was all in a rush so that they could “lock in” a great new rate. I was told that the fees would be no more than about $3500 for ALL fees (in her words: “The closing costs based off of county specifics are $3429.00. This is a high side estimate.”), that I would be able to pay off all my credit card debt (one of the reason for applying), and that I would be given a “cash out” amount of $25, 000. The credit card debt was NOT to be a part of the cash out but in addition to this amount.

After I rushed to sign the paperwork and gave Abbey my credit card information, I mentioned I have no idea if the CITIBANK would honor the card since (like with all my cards) I am maxed out. She then took the number for the $500 deposit and I foolishly signed the papers. During one conversation I reminded her of the reasons that I am trying to establish the loan is in order to pay of credit debt – something in which I still struggle. Then when a real estate friend of mine looked at the papers he said what she promised is not in the Good Faith Agreement that I signed. Abbey Wrysch kept pointing out that I would put in my pocket about $900 a month. My friend said her words and the figures do not add up. He said “I wish I had come to help you before now. This is outrageous since it is $7500 more expensive and there is NO cash out.”

The fact of the matter is I was scammed out of $500 that I could ill afford to pay, and even though they agreed to close the loan and offered no service, they ran a $500 “deposit” through my credit card and took payment. On the Good Faith Estimate I signed, which was not the estimate placed in my file, it was marked that there was ZERO amount required for the deposit. On the document I signed the deposit of $0 was changed to $500 after signing. These are the documents I now have in my file.

Here are the words I used in my correspondence to Abbey Wrysch sent: Sat May 02 01:03:35 2009: “Thank you for waving the deposit.” I do not have a copy of the original set of documents I signed, instead I have a set that has been altered, and without this evidence – what I must do is eat the truth. This message was the one when I set out the discrepancies.

Here is her message to me:

“Bruce,

I have requested your loan be denied out of my system. It's too bad that you don't see the benefit in this loan. You will recoup your loan fees in 8 months time. Most people it takes 36 months to recoup the fees. This loan will save you thousands and thousands of dollars. Good luck to you. I'm sorry you didn't work out.

Abby Wrysch
Executive Mortgage Banker-President's Club
[protected] Ex. 72891
Direct [protected]
Cell [protected]
Fax [protected]
[protected]@quickenloans.com

Sent: Sunday, May 03, 2009 10:37 AM
To: Wrysch, Abby
Cc: Mathews, Bruce R.
Subject: FW: Loan Application”

Yes – she was complicit in “credit fairy” tactics!

This is a predatory lender -

Though Abbey Wrysch knew my fragile financial position, she (or the company she is a part of) took my deposit for $500, and left me worse off than when I first contacted them. I had intended in good faith to honor the commitment, yet they worked in bad faith and did not give me the truth, since the words and paperwork did not match. When I look at the complaints about Quicken Loans, this issue is consistent and persistent in their operation, they seem to be in the business of collecting deposits more than providing service or loans. Read more consumer complaints about Quicken Loans: http://www.consumeraffairs.com/finance/quicken_loans_mortgage.html#ixzz0H6IvjWNP&A. Then check [redacted]s.

This leads to the next problem with CITIBANK, and their CITICARD policies. Citibank has a system that makes its most profits on poor people, like in this situation, where when I tried to stop Quicken from taking my deposit by informing CITIBANK that I do not want them to honor this deposit, they went ahead and did it anyway.

NONE OF THIS IS WHAT PRESIDENT OBAMA HAD IN MIND WHEN HE STARTED HELPING THE AMERICAN PEOPLE DISENGAGE THEMSELVES FROM PREDATORY PRACTICES IN THE FINANCIAL AND MORTGAGE REFINANCE INDUSTRY!

Why is a company like Quicken Loans allowed to defraud the public as they did me? They are in the business to take a deposits and are not good faith lenders as they pretend. I have lost $500 due to their bad faith practices. Here is my letter to them:

According to our conversation and email on April 24th 2009 you led me to believe that my total settlement cost would be about $3500 (actually $3364.45) at closing. In addition to paying all my debt (which is about $62, 000) you also told me there would be an additional $25, 000 for personal use, which is not reflected on the Good Faith Estimate document. You failed to disclose the loan rate prior to your added discount points.

I find your communications very different than your documents. Your Good Faith Estimate does not reflect the $25, 000 for personal use we discussed, but includes an extra $7500 Loan Discount Fee, which you did not tell me in advance. You told me that the loan would give me the additional $25, 000 for personal use. It does not add up. I have signed these documents in error and wish to withdraw immediately all obligations and affiliations with you and/or your company at this time. I believe we can work this out between ourselves without my requesting legal representation.

My directive is that you (and your company) release in writing of all paperwork related to this loan. I have referred you to several of my friends and now I am embarrassed to reveal my findings. One of which is to my boss.

And after this was sent and they stopped the process, they took my money by charging my credit card account - after the fact. Please look at the consumer complaints online about this systemic practice.

This company is a part of the real EVIL EMPIRE!

People need to be protected from fraud.

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Quicken Loans lying & arrogant weasels

Quicken Loans was the nicest company around. I was told that our closing costs were less than $3000. So I gave them $500 for an appraisal. Then, they had our appraisal done and it was clearly low balled. They brought in an appraiser from 90 miles outside our city. He had the square footage of our house wrong. He had the year it was built wrong. Therefore the entire appraisal was worthless. Quicken Loans didn't care. My assigned customer service guy started arguing with me about how no one else could ever do what they do at their price. Then he stated that he had locked the loan with FHA and we could not go anywhere else. The problem with this was that this was a lie. I was also working with a local bank and they locked the FHA loan before Quicken did. I got an email confirmation from my back with the FHA information. So Quicken was not only strong arming me with bad data, but they were lying. Once I told Quicken that I wanted my appraisal money back he stated, "I am not going to argue with you, I am canceling your loan." and then he hung up on me. Call me crazy but I think I have a right to know what is going on, not to be strong armed, and not to be lied to. I felt like they were ramming me through their system so that he could get his commission and that was all that he cared about. What a jerk.

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Quicken Loans - mistreated in hiring process

I was out of work and looking for a job in the mortgage industry. I had been doing mortgages for nearly 20 years. I have been everything from an underwriter, A team leader( 50 employees), Loan processor and a loan agent. I have worked for big names like Ditech.com, Greenlight Financial, Century 21 and other fortune 500 companies. I have a BA. in busine...

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Quicken Loans - scam

I chose to refinance my home loan with 24 years remaining to 15 years. I spoke to a mortgage broker named Derek Hellerman who recommended a VA Loan and was happy to take my $400 deposit. I had a home foreclose in 1992 that was awarded to my ex-wife. I corrected and recovered from my divorce and have no credit problems, no late payments, and make 90K a year...

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Quicken Loans $500 fraud

We received a call on September 8th and were told that they saw we were interested in a refinancing. My husband talked for a good half hour to a women and he hung up and said the offered sounded good. He called her back and said we were interested in the rate she was offering. She told him that in order to lock that rate in we would need to provide them with "good faith" money of $500. She told him this would be refunded immediately once we were approved and they did there checks on our background. At no time did she EVER tell him that the money was non-refundable during the phone conversation. She did tell him that they use "e-signature" since they are not located in the same state as we were. He apparently "clicked" that agreement but we were never sent a copy of the that signed paper until we called her and told her we were not interested at this time. We had to fax her several papers with our information which I understood was necessary but I was never informed of this process that they used. She said she told my husband and he we asked them for a copy of the taped conversation that indicated this and they said they did not have to give his to us. We were well within the three day cancellation period when we called her but she decided to slam the phone in his ear and disreguard the conversation. I sent several messages to them asking for the return or our money. We even had a contract on line that she went ahead and posted the same night that we called her and cancelled. They also had an appraisal amount listed so I asked her for a copy of that appraisal and she said that they did not do an appraisal on our house that just came up with that number. Now someone please tell me they are allowed to get away with that one. At 10:00pm on 9/13 we received this email and at 6:30pm she returned our call and we told her we were not going ahead with the loan. Then several days later we kept getting papers and calls that our loan was approved and there were paper waiting on our email for our signature so we could close. We contacted a lawyer and are still persuring this. We had several rude calls from their HR department telling us that we will not get our money back and that is when I was told that they never did an appraisal on our house...So, How did they come up with that amount for the contract they expected us to sign. There has to be some way to stop this type of fraud in this country. It is now a "he said, she said". I was told that they taped conversation is only for training purposes. I am now thinking that they never had a tape of this since they are not willing to produce it. If you ever consider any company, but especially this one, do your homework first and if they say they are taping something tell them no. This company will and has tripped up too many times and I hope this is read by enough people so they lose in the long run.

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RufusA
Swansboro, US
Jun 16, 2021 9:51 am EDT
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My experience was exactly the same. 500 good faith deposit, which I thought was appraisal. Than they changed the terms of refinance and I got better rate without PMI or cash to close from another company. They kept the 500. I will never deal with them again.

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Quickenbegone
Philadelphia, US
Jan 02, 2011 1:01 am EST

Let us hope that the government sees this and decides the go after them. Check out [redacted]s to see more of the same, if interested? Here are some possible things you can do:

Contact Your United States Senators

Every state has two United States Senators. Senators are elected on a state wide basis and represent your entire state in Washington D.C.. Your United States Senators have enormous power and enormous influence. A simple letter or phone call from a U.S. Senator's office can move mountains. Every United States Senator has an office that deals with constituent complaints involving a number of issues -- every problem imaginable are handled by your United States Senators' office. Plus, they want to get re-elected and they serve their voters not the business.

http://www.senate.gov/

Contact Your United States Congressman/woman

Unlike Senators, your state has anywhere from one to over 50 United States Congressmen/women. In your congressional district, you have ONE United States Congressman/woman. Like Senators, members of Congress deal with a huge amount of voter problems -- you name the topic, and they can and will help you.

https://writerep.house.gov/writerep/welcome.shtml

Contact The United States Department of Justice

The Department of Justice is the federal government's chief law enforcement agency and prosecutorial office.

http://www.justice.gov/

And my favorite:
Contact The Federal Trade Commission (FTC)

It is the only federal agency with both consumer protection and competition jurisdiction in broad sectors of the economy. The FTC pursues vigorous and effective law enforcement; advances consumers’ interests...
This is the agency that companies fear.

http://www.ftc.gov/reports/index.shtm

Contact The Securities and Exchange Commission (SEC)

This agency regulate all companies that are trading stock publicly. They also are very concerned with companies who engage in fraudulent activity which might manipulate their stock price and give investors a false picture of the truth of a company's heath.

http://www.sec.gov/complaint.shtml

Contact The Internet Crime Complaint Center (IC3)

Report the offending company to this feared and effective government task force. Your aim here is to highlight the criminal and fraudulent nature of the companies activities. You must be able to detail how they wronged you and stole your money.

http://www.ic3.gov/complaint/default.aspx

Contact The Council of the Better Business Bureau

The Better Business Bureau is another group that many businesses need to answer to -- first it has enormous influence and second, many businesses are members. Since it is paid for by businesses it may not be as effective as the government agencies that are created to protect you.

http://www.bbb.org/

Contact The National Consumer Law Center

"The National Consumer Law Center (NCLC) is the nation’s consumer law expert, helping consumers, their advocates, and public policy makers use powerful and complex consumer laws on behalf of low-income and vulnerable Americans seeking economic justice.
Today’s consumer marketplace is complex and full of potholes, even for those of us with all the necessary skills and advantages. For unsuspecting low-income consumers it’s far more treacherous - even the smallest misstep can lead to financial ruin and a sense of hopelessness that paralyzes individual progress."

http://www.nclc.org/

Contact The National White Collar Crime Center (NW3C)

They will help you with filing a complaint against the company showing you how to do it and provide other resources. White collar crime is a term coined for something that many businesses engage: it is fraud and outright theft committed by those wearing a white shirt and tie to work everyday.

http://www.nw3c.org/overview/what_we_do.cfm

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speranz
Andover, US
Oct 04, 2010 4:34 pm EDT
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Was the phone # [protected]? or a variation of?

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speranz
Andover, US
Oct 04, 2010 4:33 pm EDT
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Was the phone # [protected]?

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7:03 am EDT

Quicken Loans false advertising/bad sales practices

When I originally contacted Quicken Loans, it was for the purpose of refinancing my existing mortgage. I made it clear in my initial chat conversation with their loan officer that I was looking for a no money down option to refinance my first mortgage.

At that point he stated that there would be a $400 deposit required to begin the loan process and that I had the option to get the money back at closing. When asked if any other money would be needed to close, it was stated that no other money would be needed. At that point I gave my credit card information and permission to begin the loan process.

During the process an inspection of the house was conducted and it was determined that repairs to the outside of the property and a mold inspection was needed. When asked if these costs would be rolled into the new loan, the answer given was no. I reminded the loan officer of the conversation that we had regarding no money down and that financially I could not afford to spend much money on these repairs.

Upon paying for a mold inspection and the repairs, which was an additional $285 out of pocket expense, it was determined that mold treatment was needed. I again asked if this cost could be rolled into the loan and reminded the loan officer of the conversation we had in the beginning regarding no money down. He stated that the expense for the mold treatment would have to be covered by me and could not be rolled into the loan.

I feel that the Quicken Loans representative was fraudulent in his advertising of the refinancing option in that I have spent $285 on top of the $400 deposit which I am not able to recover and I was originally told that the only monies needed would be the $400 deposit which would be returned (if I chose) at closing. Had I known that there could be additional expenses for the loan that I was responsible for, I would not have pursued this Quicken Loans product.

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dq1000
Pittsburgh, US
Sep 14, 2010 2:46 pm EDT

When I originally contacted Quicken Loans, it was for the purpose of refinancing my existing mortgage. I made it clear in my initial chat conversation with their loan officer that I was looking for a no money down option to refinance my first mortgage. At that point he stated that there would be a $400 deposit required to begin the loan process and that I had the option to get the money back at closing. When asked if any other money would be needed to close, it was stated that no other money would be needed. At that point I gave my credit card information and permission to begin the loan process. During the process an inspection of the house was conducted and it was determined that repairs to the outside of the property and a mold inspection was needed. When asked if these costs would be rolled into the new loan, the answer given was no. I reminded the loan officer of the conversation that we had regarding no money down and that financially I could not afford to spend much money on these repairs. Upon paying for a mold inspection and the repairs, which was an additional $285 out of
pocket expense, it was determined that mold treatment was needed. I again asked if this cost could be rolled into the loan and reminded the loan officer of the conversation we had in the beginning regarding no money down. He stated that the expense for the mold treatment would have to be covered by me and could not be rolled into the loan. I feel that the Quicken Loans representative was fraudulent in his advertising of the refinancing option in that I have spent $285 on top of the $400 deposit which I am not able to recover and I was originally told that the only monies needed would be the $400 deposit which would be returned (if I chose) at closing. Had I known that there could be additional expenses for the loan that I was responsible for, I would not have pursued this Quicken Loans product.

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Don sawyer
Rochester, US
May 13, 2011 5:21 pm EDT
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Boy can I add to all these Quicken Loan Complaints. How can they be allowed to stay in business, and keep ripping people off. I went to refinance my small existing mortgage with them for a 15 year lower interest rate than what I have now. They made everything sound great over the phone. I gave them a 375 appraisal/application fee up front. he called it a "good faith" deposit? The guy told me he would "roll that figure"over into the closing. The refinance did not go through because my house needed some minor repairs, and the "appraisal" was lower than anticipated. He did not tell me upfront that I might not get the 375 dollars back if anything went wrong. I should have been smart enough not to advance anyone a "good faith" deposit. So I am at fault also. But I believed what he said. So I did not get the refinance, and I am out 375.00. I will be filling a complaint with the NYS Attorney Generals Office. --- Don Rochester, NY

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Quickenbegone
Philadelphia, US
Jan 02, 2011 1:14 am EST

I have been tagged by the Quicken sting as well - they sting everyone for a deposit they NEVER plan to refund! If annoyed, maybe this could offer an option, and realize I will posting in a few of the complaints so it will be somewhat canned. Sorry, I think it is useful information, see what you think:

Contact Your United States Senators

Every state has two United States Senators. Senators are elected on a state wide basis and represent your entire state in Washington D.C.. Your United States Senators have enormous power and enormous influence. A simple letter or phone call from a U.S. Senator's office can move mountains. Every United States Senator has an office that deals with constituent complaints involving a number of issues -- every problem imaginable are handled by your United States Senators' office. Plus, they want to get re-elected and they serve their voters not the business.

http://www.senate.gov/

Contact Your United States Congressman/woman

Unlike Senators, your state has anywhere from one to over 50 United States Congressmen/women. In your congressional district, you have ONE United States Congressman/woman. Like Senators, members of Congress deal with a huge amount of voter problems -- you name the topic, and they can and will help you.

https://writerep.house.gov/writerep/welcome.shtml

Contact The United States Department of Justice

The Department of Justice is the federal government's chief law enforcement agency and prosecutorial office.

http://www.justice.gov/

MY FAVORITE:
Contact The Federal Trade Commission (FTC)

It is the only federal agency with both consumer protection and competition jurisdiction in broad sectors of the economy. The FTC pursues vigorous and effective law enforcement; advances consumers’ interests...
This is the agency that companies fear.

http://www.ftc.gov/reports/index.shtm

Contact The Securities and Exchange Commission (SEC)

This agency regulate all companies that are trading stock publicly. They also are very concerned with companies who engage in fraudulent activity which might manipulate their stock price and give investors a false picture of the truth of a company's heath.

http://www.sec.gov/complaint.shtml

Contact The Internet Crime Complaint Center (IC3)

Report the offending company to this feared and effective government task force. Your aim here is to highlight the criminal and fraudulent nature of the companies activities. You must be able to detail how they wronged you and stole your money.

http://www.ic3.gov/complaint/default.aspx

Contact The Council of the Better Business Bureau

The Better Business Bureau is another group that many businesses need to answer to -- first it has enormous influence and second, many businesses are members. Since it is paid for by businesses it may not be as effective as the government agencies that are created to protect you.

http://www.bbb.org/

Contact The National Consumer Law Center

"The National Consumer Law Center (NCLC) is the nation’s consumer law expert, helping consumers, their advocates, and public policy makers use powerful and complex consumer laws on behalf of low-income and vulnerable Americans seeking economic justice.
Today’s consumer marketplace is complex and full of potholes, even for those of us with all the necessary skills and advantages. For unsuspecting low-income consumers it’s far more treacherous - even the smallest misstep can lead to financial ruin and a sense of hopelessness that paralyzes individual progress."

http://www.nclc.org/

Contact The National White Collar Crime Center (NW3C)

They will help you with filing a complaint against the company showing you how to do it and provide other resources. White collar crime is a term coined for something that many businesses engage: it is fraud and outright theft committed by those wearing a white shirt and tie to work everyday.

http://www.nw3c.org/overview/what_we_do.cfm

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loanripoff
Cypress, US
Dec 28, 2010 5:36 am EST
Verified customer This comment was posted by a verified customer. Learn more

I had a similar experience with Quicken Loans. They say whatever they want and then are not held accountable to what they say and refuse to give my deposit back as well. I also filed a complaint with the BBB and Quicken Loans keeps giving them the deposit agreement that I signed and they keep trying to close the complaint. I wouldn't have signed the depsoit agreement if I wasn't told everything will be "fine" from the loan agent. My appraisal was totally too low and they weren't even comparing similar houses to mine. Is there any government agency that could help us get our money back? It seems illegal that they can say whatever they choose, but sincc it's not in writing it doesn't mean anything.

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mikeHn
Morrisville, US
Sep 30, 2010 10:15 pm EDT
Verified customer This comment was posted by a verified customer. Learn more

Hello Tim,

I had almost similar experience with these guys. I believed in their promise that the deposit will be returned at closing, and that no other money will be required of me after I told him that I am not willing to pay anything for refinancing. It never crossed my mind that my deposit (much more than $400) will be gone forever. I am at my wits end. Immediately after I saw the 'bad faith estimate' with inflated loan amount I questioned the 'banker', but he assured me that these numbers will change and I won't be paying anything 'out-of-pocket'. It never crossed my mind that these weasels would add all these expenses to the loan balance. I doubted from the very beginning that things don't add up, but he always assured me that I'll be fine and he'll take 'good care of me.'

When I finally saw the HUD-1 form, I realized there's something wrong (comparing it to a previous HUD-1). I called the closing team and someone from there gave me the bad news - there's indeed around $3000 cost buried into the loan. This happened before the day the loan was supposed to closed. I was bamboozled. I refused to go any further and wanted my refund back.

There's more to this story, but the bottom line is that these guys are are shameless liars and worse than robbers. I talked to his supervisor and his supervisor's supervisor and explained how this happened. He said he will review the situation and will get back. I am not too hopeful about recovering my money easily. However, I am going to do everything in my power to alert others of their bait and switch practices. I am ready to file complaints (BBB, Attorney General's office, FTC, State Banking Depts, newspapers) and even pursue legal routes (small claims court, class action etc). What happened to me and to hundreds of others in this day and age in America is unreal. We''ll have to fight these crooks and stop them before they do any more damage to others.

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11:17 am EDT

Quicken Loans terrible customer service and improper selling tactics

I am glad I did not proceed with this company after seeing all these reviews.

Quicken offered over the phone an attractive rate and low closing costs, however, the customer rep I was dealing with (Rene Hays) was quick to ask me for my credit card number and $500 deposit to move on. When I ask her to provide me a quote in writing, she started to talk about the need to "trust" each other and that she would not be wasting my time or her time if they were not serious copmany. She claimed that the approval process would take her 45 min and she did not want to proceed unless I was serious about it.

In a follow up conversation I told her that I was seriuos about it but I wanted to see their proposal in writing. She asked me to get in front of a computer with my credit card ready as she would be sending me a "good faith estimate" and she wanted me to give her my credit card after me seeing their proposal. She did some more talking about trust, etc.

As I did not like the approach of this lady, I called the Quicken 1-800 numbers and spoke with another customer rep (thinking that it was this lady's approach).

The new customer rep. that I talked was very arrogant and rude. Bottom line, he would not give a written proposal before collecting the deposit. He tried to convinced me that they were the best company to work with, that many other customers had done business with them, and basically that either I have had a bad day or I had a "trust" issue (he suggested that I probably had a bad experience with another financial instituation ). At the end I had to hung up as the customer rep. just kept talking.

So, after seen some many negative reviews, and the experience I had with 2 different customer representatives, it is clear to me that the company business model is to offer very attractive rates/low closing costs, deceive clients with imcomplete or inacurate information, collect the $500 deposit as soon as possible, provide a low appraisal (I guess it is their own approsal company) so they rates they initially offered are not longer valid and when peple complain, either they do not give you the deposit money back or if you feel you are stuck with them you continue with the process at a higher rate/higher closing costs.

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Quicken Loans deception, lies, and theft!

There is nothing Quick about Quicken loans. Read the reviews before you do business with this company. Two months into the loans process, after numerous statements of you are Apporved for the Loan (without Condition)

and sending in hundreds of documents, four hundred dollars for an appraisal of the property I finally got fed up and said "No" to doing business with this ethically bankrupt company. I asked for my four hundread dollar appraisal fee back--the apraisal never done--no the four hundred dollar fee is changed from appraisal fee, to a fee for obtaining documents. An online review of the 100's of documents Quicken Loans shows

that every single document in their file, was provided buy me, and not a third party. They worked me to death just to steal my money.

The company employees, continually ask for more and more documentation-when they already have it. They dont read the documentation, or even look to see if they have it. They are incapable of reading Tax returns, as they request documentation, the 1040's clearly say is NOT a part of the tas return. Ie: schedules, C, First page of 1040--none, forms use for

S-corps yet you are a Sole proprietor. They ask for closing statements for homes you never even owned, bit lived in temporarily. Prove that you own property and have no liens. How about them proving you have liens on propertys you own free and clear.

In my opinion--this company is a scam. If your employees cant ready a Tax return, why should they be involved in Finacial lending. No matter how smart you are, dont think your self so smart that you can talk to a rock, that is basically what you are dealing with, IQ's similar to that of a Rock. Imposible!

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Quicken Loans good faith deposit

Was told explicitily this was to be a no cost loan - no roll over into loan etc..
Was told explicity that my $400 deposit would be refunded at closing -just needed to start things off.When I actually got the closing bundle with the facts that counted in addition to losing my $400 I had to pay an additional $1300.
THey now say they don't owe me a refund.
They outright lied.
They (I) did meet the minimum requirements for a new streamline loan (I repeat just barely) The final packet showed a very minimal gain for me and I would have honored it except for the lies of no cost.
In reviewing others comments many are like mine and caused because they demand an up front deposit before you have any real details (specifics)

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Consumer Protection reader
, US
Apr 17, 2011 2:32 am EDT

In reading thru several complaints, I wonder why none of its writers mentions appealing thru BBB (Better Business Bureau of that QL's city of location) to first, check on its BBB rating, and to report any concerns with doing business with QL. If any business has unresolved complaints, it is a red flag/caution advised. It goes without saying that if a business is reputable, it will demonstrate good will efforts, if given opportunity) to resolve any issues/complaints. - Consumer Protection reader

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.

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Contact Quicken Loans customer service

Phone numbers

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

Website

www.quickenloans.com

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