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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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6:44 am EDT
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Quicken Loans employee treatment

If you decide to apply for the Title Review Specialist position, think twice ! They interview dozens and dozens of people at a time and hire the same amount at a time. Then the next step if you get hired is your first day of "training". They sit you down in a room for half a day and try to cram months of learning on their programs/systems down your throat that really takes weeks and weeks to learn. Then the next day you get sent to your permanent location. After that the hands on learning begins. To sum this part up, there is 3 different programs you have to use to and literally hundreds of steps they expect you to learn in just a couple weeks. They set goals(how many files) they want you to be going through each day. Trust me they throw you into the pack of wolves thats been doing this stuff for years and they expect you as a rookie to the "team" and i say that term lightly because you are a temp until after 120 days of work or if they decide you fit in to their liking. Anyways, they set these unreachable goals for you to reach each day and expect you to catch on learning 3 different systems with about a couple hundred steps to do to finish just one file. If they dont like the pace you are at by a few weeks time, they FIRE YOU ! BY FAR THE WORST TREATMENT TOWARDS NEW EMPLOYEES THAT I HAVE EVER EXPERIENCED. The team leader is a total two faced liar and does not go out of her way to help the new people. She expects you to be performing on the same level as the rest of the crew thats being doing this stuff for years. QUICKEN LOANS, you call that a top rated company to work for in the country ? Forbes you need to do some more digging before you rate such companies that operate like this. If they don't think you fit in their clicks, or know all their hundreds of steps to learn in just a couple weeks, they fire you like they did me. Why would you be proud to have Team Leaders like this ?

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11:50 am EDT
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Quicken Loans positive experience

I had a concern after reading the many complaints. I put down $250 on the credit card and the process began. Like many additional info was requested. I provided what every was needed. Which lead me to beleive I got hooked and would lose my $$. I am here to tell you after approximately 30 days I have closed. Some terms of the original paperwork that was sent had changed a bit. Everything was corrected by the Banker (Austin Rudick) in AZ. Another person in Detroit Tara Bingham was helpful in regards for keeping me up todate with the loan process. I was also able to track the process via there website. I know a lot of BS seems to be written but felt there should be some positive feedback left. I can only say if your financial situation isn't way out there then you too should be able to use Quicken Loans.

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12:48 pm EDT

Quicken Loans don't use for a refinance

Don’t Use Quicken Loans! you can save money and time going else where. I call them about refinance my house and talked to an 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, they assured me it would not be a problem, then he said i did not have an FHA loan. It became apparent that this guy had no clue of what he was doing. They made me jump though hoops trying to get this stupid loan. I have done other refinance in the past with my rental house and the purchase of this house and have never been screwed with so much. Never use Quicken loans, they suck.

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1:03 am EDT
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Quicken Loans refinance

I looked around on the web for a low cost refinance at the end of May. Quicken Loans came up as having the best rates. I called them and got a hold of John Van Tol (Tara Bigham was his assistant). He did not ask me for $500 until we determined I was a very good candidate for a refinance given my income, credit scores, estimated home value, etc. I then saw this complaints website and thought oh crud what have I gotten myself in for. Well, we had a few hiccups because the IRS transcript forms didn’t match my prior 3 years tax returns (see #5 below) but we got everything redone in time and closed on the last day before the rate lock expired. The numbers that were provided to me on my good faith estimate did not change and everything was exactly as they promised. I had several other companies that I spoke with and Quicken remained the lowest closing cost (their cost not the other fees). The only significant expense was the title company fees but these always seem to be high no matter who you use. I insisted on not escrowing my property taxes and hazard insurance and they found a loan that fit this requirement with a great low rate. I will say I’m the first to blast companies I think are scamming folks but that was not my experience with them – they did a great job.
I offer a few words of advise to others. First I think everyone needs to understand that mortgages are complicated business. This is a process where both parties have responsibilities in order for the loan to be completed on time and as expected. Keep in mind that with the blow up in mortgage banking in 2008, you will need to provide significantly more documentation than you did previously – so don’t be surprised. Before you apply for a mortgage or a refinance you should follow the steps below. If you do these you will eliminate 99% of the issues that could cause problems with obtaining a mortgage or refi from Quicken or any other provider for that matter.
1. Pull your credit report and make certain you know all 3 of your credit scores in advance. Be aware if you are not the only one on the loan that they will look at the credit score of any party to the loan – so your wife, husband, boyfriend, etc. better have good credit as well.
2. Talk to a real estate agent and check Zillow and other sites to make sure you have a realistic understanding of the current market value of your home. It is not worth what you think it is worth or what you paid for it or what you put into it in the way of improvements. It is worth what the market will bear. You cannot get emotional about this fact – house values have declined so be prepared for your property to appraise at a value lower than you expect. I gave a range I was expecting my to appraise at and it came in $1000 lower than the bottom of the range – not great but not far off either.
3. Discuss your credit scores, estimated home value, your current loan and any HELOCs if refinancing, size of the loan you are looking for, last 3 years of income, and your key debts with the loan officer to determine if you are a candidate for their program BEFORE asking them to invest a bunch of time and before paying the $500 down. Be up front, don’t hold back any critical information on your real life debt to income situation – you need to be prepared to discuss all financial obligations such as additional properties you may own, auto, credit cards, etc.
4. Ask that the appraisal be conducted as quickly as possible – the sooner this paperwork is in the faster it will go – you want to get this through underwriting before the rate lock expires. At the same time if Quicken’s appraiser is not using reasonable comps the appraisal seems significantly out of line then discuss this with Quicken and insist on using a different appraisal company.
5. You will need to provide the last 2-3 months of checking account statements as well as your last 3 paystubs and your employers info for proof of income.
6. Also, be prepared to provide 3 to 4 years of W2’s and any proof of income. You will be asked to fill out a form to provide the last 3 years of IRS tax transcripts. Go back to your last 3 years tax returns and make sure your name and address on Quickens forms matches your IRS tax return EXACTLY for each of the 3 years or it will be rejected by the IRS. This will ensure there are no delays in getting these documents to their underwriting department. If you have a Schedule A B, or C on your tax return you may be asked to provide these as well.
7. Ensure you have proof of insurance for the property – declaration page of your insurance property and proof of your insurance payments to show you are current.
8. If you have both a first and second mortgage and are refinancing – be prepared to provide the settlement statement on the original loan to prove the second loan is not a home equity loan. On the refinance you will need to prove there are no other liens against that property except the loan you are refinancing.
9. Make sure you discuss how you will be handling property taxes, insurance, and PMI if you are required to have PMI. If you don’t want taxes and insurance escrowed you need to make sure they know this up front and that they obtain approval to waive the escrow of these fees.
10. If Quicken provides a “conditional” approval understand that is exactly what it is – it is conditional upon your credit scores not changing significantly and you not racking up significant debt in the meantime. Be careful not to screw around with things that can mess up your credit during the loan approval process.
11. Quicken will provide a rate lock for x amount of days. It is your responsibility to ensure you get all of the necessary documents to them quickly in order to the loan approved through underwriting. Keep in mind that like any other lender make money on the difference between the fed rates and the rates being charged. They cannot hold a rate lock indefinitely.
12. Use their website to upload your documents directly. It’s fast, easy, and that way you know they have gotten the documents along with your explanation. Make sure you keep the email and phone # of your loan officer and the assistant that will work with you to get all the paperwork pushed through. Stay in touch with the assistant.

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7:46 pm EDT

Quicken Loans advance fee scam

Well, we bit on it. Quicken Loans has a beautiful website and I suppose it's designed to elicit trust. And I read what other people said, that they ask you for fees and never give the money back, and want your credit card number. With all the scams in mortgage lending, I thought that maybe these mortgage companies learned their lesson and now they were restructured. We spent about 25 minutes discussing a new home loan, and the agent gave us this spiel that he was going to hook us up with their realtor, and bank, and we were going to get a house and they were going to do the mortgage. Then he asked us for our credit card number and he wanted $600 just to secure the loan, sort of a good faith thing. It's a scam. Then we got an email that said unfortunately they couldn't give us a loan, (we qualified with a major bank as well), and their Fresh Start Credit Repair company would help us out...of some more money I suppose. Anyway, that's what happens if you try to negotiate a loan with Quicken.

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Shari74
, US
May 06, 2011 1:05 pm EDT

Well, we bit on it. Quicken Loans has a beautiful website and I suppose it's designed to elicit trust. And I read what other people said, that they ask you for fees and never give the money back, and want your credit card number. With all the scams in mortgage lending, I thought that maybe these mortgage companies learned their lesson and now they were restructured. We spent about 25 minutes discussing a new home loan, and the agent gave us this spiel that he was going to hook us up with their realtor, and bank, and we were going to get a house and they were going to do the mortgage. Then he asked us for our credit card number and he wanted $600 just to secure the loan, sort of a good faith thing. It's a scam. Then we got an email that said unfortunately they couldn't give us a loan, (we qualified with a major bank as well), and their Fresh Start Credit Repair company would help us out...of some more money I suppose. Anyway, that's what happens if you try to negotiate a loan with Quicken.

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9:56 pm EDT
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Quicken Loans fraud!!!

Despite what everyone else has written about Quicken Loans, I applied for a refinance anyway. I really wanted to believe they would help me. They claimed they would. I spent hours and hours getting every piece of documentation they could imagine. I got my mother to cosign the loan. She could buy the property outright has a lot of money. Then, just as many have reported before me, Quicken dropped the ball. They brought out an appraiser of their choice who claimed my property has dropped in value 20 percent. Funny -- I could not get a reduction in taxes because my county assessor says it has maintained its value. My advice? No matter what -- avoid Quicken Loans. They are running a scam operation, perhaps to get $500 from each applicant.

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lam aschigona
Kankakee, US
Aug 08, 2011 8:15 pm EDT

Completely agree with you! I'm out the application fee. I wish that I had read this before hand! DO NOT USE QUCKEN!

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8:51 pm EDT
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Quicken Loans they lied to us

My partner and I applied for a refinance of our existing mortgage on May 3, 2011. During my initial contact with Quicken Loans, I explained that I have a unique property and that it might be difficult to find comparable sales on the appraisal. I was asked to deposit $500 on the assurance that the uniqueness of my property would not be a factor in deciding whether or not to give me the refinance. I was told by the senior mortgage banker that I "am the kind of customer Quicken Loans likes to lend to, " because of my credit scores and financials. Later, I learned that the appraisal was poorly executed and serious material errors were made that impacted the outcome of the stated value. Fortunately, I had an appraisal done on my home just one month prior (April 2011) in which the value of our home showed up $300, 000 more than in the one commissioned by Quicken Loans. When I complained to Quicken Loans about the poor appraisal, even sharing with them the April appraisal so that they could see and compare the vast difference in appraisal on the same property, they contacted the appraiser to speak directly with him about the appraisal. I understand that this is strictly forbidden -- lenders are not allowed to contact appraisers directly. I was not invited to participate in those conversations, even though I paid for the appraisal. Quicken Loans denied our application for a refinance because, as they said, our property was too unique. One of their loan officers forwarded to me notes from my file at Quicken Loans. In those notes, someone had indicated, "we cannot lend on the castle on the street." The comment is derogatory and clearly points to their attitudes about me, my partner and the unique house we live in. We were upfront with them about the nature of our property. Quicken Loans apparently recorded that conversation, because they took weeks to evaluate the initial intake conversation I had with the mortgage banker. They refused to re-investigate the appraisal, despite all evidence I provided that the appraisal was riddled with errors, and despite the fact that I was told the uniqueness of our property would not be a factor. They still have not returned our $500 deposit, even though we have been turned down for the loan.

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5:12 pm EDT
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Quicken Loans terrible service

My loan process began over 3 months ago. And who knows how many "we're all set" emails or phone calls from my rep and my "Could-Care-Less-About-My-Customer" specialist, otherwise known as a "Customer Care Specialist." What a joke.

In that time frame, I was literally barraged by request after request after request for more and more information---some 3 years old---and refiling paper work that either got lost or was prepared improperly by them (4 times I had to resubmit the same 4506 IRS Form because it was rejected by the IRS due to misinformation).

I spent $500 on a wasted home appraisal. I spent $50 on FedEX shipments for materials that needed to be sent to them as a matter or time-sensitive urgency.

I had to chase down the release of a lien on my former company from over 5 years ago.

I jumped through hoop after hoop after hoop after hoop with another "just one more thing" always waiting for me around the corner.

I gave Quicken Loans the benefit of the doubt for so long but finally had to seek out another option for a loan as it was becoming increasingly clear that Quicken never really had any intention of working with me on this loan. Instead, I was the one doing all the work.

But as a result of my seeking out another loan option, there were additional inquiries on my credit from the local bank I was talking to as a back up to Quicken. As a result, my score dipped just below 700. So because of incompetence on their end that resulted in my having to seek other options, I get a call telling me that my loan which was all but approved according to them, was denied to a drop in my credit rating during the 3 months I was dealing with all the ridiculous requests I was getting for more and more and more and more information.

By contrast, working with my local bank has been an absolute pleasure. I have secured approvals in 30 days at a better fixed rate and lower fees and closing costs. Done and done.

I hear the Quicken loan ads on the radio and I laugh out loud when I hear the tag line, "Engineered to Amaze." What a load of crap.

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2:37 am EDT
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Quicken Loans deposit refund

It's a very long story, unfortunately, but I'll try to sum up my many hours spent on this, quickly, but while still getting to the point. I hooked up with Quicken Loans to refinance my house because they had the best dea/rate to offer me. They requested a $400 deposit from me to go towards the final cost, and as my "good faith" commitment to them. I had no problem doing this since I have every intention of going through on this refinance loan with them. I was assured that should anything change with the loan from the way it was originally presented to me and what I originally signed that I would be rufunded this money because it would not be the original agreed amount for the loan. Well, here we are almost three months later, not one, but two chances to get it right on there end, and more phone calls that I can keep track of, and now that I'm not willing to give them a third chance to get this right and get their "miscommunications" straight, and after they have told me twice that they would give me a refund, they won't give it to me. The amount for closing started at $700-$800, and after several adjustments went as high as $3800, but that was just someone giving me incorrect information. The last number I was given was about $1800, but they couldn't make that happen either. Terms of the closing changing, I would say just a little, but no sorry, you can't have your refund even though you were told that. These people are UNBELIEVEABLE! I have bought and sold six homes, and refinanced twice, I am not new to this and I have NEVER been through anything even remotely close to this with any other dealings that I have had with other companies. I cannot strongly suggest enough to stay away from this company (for lack of a better term). Unfortunately I will be involved with them until I get my refund back, and not one day past that! I don't understand how companies like this are allowed to stay in business. They are unethical, uncaring, and running their scam on the few dollars that the American people have left. Shame on me for trusting them!

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AJONESEY
, US
Jul 03, 2011 3:41 pm EDT

I had a similar experience like you and it is a LONG story as well. And I wish I had read this before I got involoved with these clowns. I too live in GA and this is not my first rodeo either, I have bought 3 homes as well so I know how things should go and have a pretty good idea how the figures should flow. Good faith estimates should not be that far off. And mine has doubled since the original estimate. They have turned my life upside down and have my livlihood at a stand still. I have to go on with them in hopes that this will go through. I cannot afford to forfeit my deposit or appraisal fee. What I find most appaling about my situation is that they wait until the DAY BEFORE my closing date to tell me that they are no longer able to do my loan. Then the next day tell me they are again able. I'm so confused and disappointed. Now I have been given a new closing date and once again I'm sitting just waiting for the other shoe to drop. They advised they would not do the load due to 1 page they were needing from my 09 taxes. but did not tell me until the day before closing, causing me to leave work early and make it to the IRS in record time to get a form for them. A form in which they are supposed to get with me releasing and signing a t4509 form. THEN before I can even make it back to a fax machine to send it. They call back and say, nevermind you are clear to close now and here is your new closing date. WTF? They call at 3pm and advise me of the form (this is the day after you tell me you can't do the loan, after I have been dealing with you for 2.5 months and paid money for an appraisal and deposit). I get the form from the IRS at 4pm and I get a call back at 4:45 telling me nevermind, all is good. I don't know what to think. And the form was just a basic one that you file with your return. Nothing complicated. I can go on and on about the particulars, but it would become unbelieveable. To anyone reading this... DO not gamble with these people and make your life easier by going with another company. All my dealings with them were smooth in the beginning and it quickly went sour in the end. I have to get this house and can not bail on it now coming freshly off a divorce. I am scared to death to continue, but it is too late for me. JUST DONT DO IT.

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6:12 pm EDT

Quicken Loans they refuse to refund our $500

Quicken Loans responded to our internet request for quotes from lenders regarding the refinancing of our mortgage. After some discussion, we decided to proceed and give them our detailed financial information so they could put together the numbers for us. At one point we made the decision to refinance with Quicken. The loan rep Delante McGrew emailed us the loan application and asked us to e-sign the documents. We still have dial up internet service so it took quite awhile to download the documents. Time was running short as I had to pick our daughter from school. My bad, but I went ahead and esigned the application and said that I would read through it later that evening. Once I got to the Good Faith Estimate, I immediately realized that the figures on this form were different from the ones Delante quoted me earlier in the process that I wrote down in a notebook. The Loan Discount Fee was incorrect, there was an Additional Endorsement added in with no description as to what it was for. There was an $80.00 fee for TSI Appraisal Services as well as a $350.00 appraisal fee. My intuition told me this was'nt the company I thought it was going to be. I called our credit card company and found out that Quicken had already charged our credit card $500 for a Good Faith Commitment. Delante told me this wouldn't be done until the appraisal had been completed. I told him then that we would not be doing business with them because of the change in the good faith numbers. When I pointed out that the Loan Discount Fee was higher than what it should be, he couldn't understand why I would quibble over $300. He had no clue as to what the $80.00 fee to TSI Appraisal Services was for or what the Additional Endorsement was. I tried to work with Ann O'Neil from the same office to get our money back. In my final conversation with her I also told her that I had recently discovered that Delante lied about the length of my husbands employment on the application. Ann told me that the length of a persons employment has no bearing whatsoever on the loan. Why do lenders ask for this information then? They refuse to refund our $500 but I'll never rest until it's finished!

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4:04 pm EDT
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Quicken Loans charges before loan approval

Total rip-off artists! - I can picture a phone room crammed full of desks, with minimum-wage employees, all with "special" Titles such as
"Loan Advisor", "Loan Consultant", etc etc ... and ... a total lack of communication between them.

The biggest fraud they engage in is all the "Special" & "added" costs you must provide BEFORE your loan is even considered ... just a few - $400. "good-faith" fee, then a "Loan Initiation fee", then they charge you for a Homeowner's Insurance Policy, while demanding that YOU also provide a separate Homeowners Policy, a Home Inspection fee (Before you even know IF your loan is approved!) - An appraisal fee, and ALL These "fees" to be paid UP-FRONT - BEFORE you even know if your loan is to be approved!

All this, while you provide Bank Statements, proof of income, Credit Reports, , , , at LEAST two or three times, because these "clerks" can't seem to have the ability to walk your paperwork through from one desk to another. Just when you think you have everything set-up,
you get transferred to yet Another "Loan Consultant" who starts you all over again asking for proof that you paid all the "Up-Front" fees, so this is another trip to the copy machine to send this dolt all the paperwork again!

I wonder how much Quicken Loans pays J.D. Power & associates to hawk them as the "Number One" in home loans?

STAY AWAY FROM QUICKEN LOANS, unless you have $1200 or $1500 to throw away on "fees".

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6:38 pm EDT
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Quicken Loans mortgage refinance

Avoid this company! Dont waste your money. They refuse to refund even when the appraisal is clearly faulty. They hire incompetent appraisers who are unfamiliar with your housing market. Suspect the 'lender financed PMI' is a big source of income from them. Thus their motivation to get a low appraisal.
Assessor was so incompetent she appeared to be assessing the wrong house. Had features incorrect (i. e. Said we had a fiberglass shower insert in the master bath when we have a full tile walk in shower). They allowed comps that were clearly not comparable homes (compared a house 21 years old to our 8 year old home, yet ignored actual comps in our neighborhood) Randomly assigned a per square foot price significantly lower than the comps despite noting that our house had a 'like new feel' and was of a high quality. Quicken refused to have it reassessed despite the outrageous appraisal.

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12:01 pm EDT

Quicken Loans charge my $500 on credit card and change agreement

Looking into refinance of a home and call them. Was told after giving information I was approve. I said how come so fast and was told credit report they looking at. Told they needed credit card but would not charge if I did not like the loan or something came up that they could not give loan. They gave me a good faith report and it look good. Got a letter of how much I was taking out on loan and shock to see to much. Contract them and they gave me the run around and finally I need to see why they posted it on their website. It was a need Good faith statement with $2200 more on fees for discount fee. I said never was told that I have way over 20% down on what home is worth and never anywhere you said it be more. I said not taking loan and they told me well then we posted another statement for you to look at. I went up on website and it was a interest and deposit statement and that they taking my $500 on credit card. I check credit card and sure enough they charge this on March 17, 2009. I got this interest and deposit statement which I printed that is dated for March 28, 2009. Call them and they said sorry it happens but he put me on hold and came back and said if I sign the loan they give the $2200 back in cash since loan papers are made out. I said want that in writing and they could not do that so I told them no way it would be he said and she said. Made a complaint with BBB and it showed 627 resolve with a b+ rating. BBB said they sent a report to them but when I went back to check the complaint on BBB it shows now 700 and all resolved. Makes me wonder about BBB..After typing in quicken loans complaint on internet many lately is getting the same thing they keep the $500 then change everything...

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4:28 pm EDT
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Quicken Loans liars and thieves

Please believe what you read on this site about quicken loans! They are liars, crooks, and thieves! I called them up to refinance my home and seth gray (If that's really his name) was very professional, assured me that I have no reason to worry... Good credit, military service, excellent payment history. He just needed $500 to prove that I was serious & pay for the appraisal. Warning flag went up, but I wanted the rate reduction so I paid it. Three weeks later, seth called me and said that I didn't get approved because the house wouldn't appraise for the cost of the loan. Huh? What appraiser couldn't value this home correctly? It's in the medical center area, surrounded by other doctor's homes and was worth much more than the refi loan. Seth seemed so distraught that the loan didn't close. He promised he'd call me and follow up requesting a new appraisal. Have never heard from him again. That was almost a year ago. It doesn't matter what they tell you, once they get your money... Suddenly there's a problem with your appraisal.

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nostradamus2012
Jacksonville, US
May 21, 2011 5:05 pm EDT

That is true, they just want your personal info to sell it.

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6:02 pm EDT
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Quicken Loans ripoff

This Company should not be allowed to stay in business, and continue to cheat people out of their money. I lost 375.00 "good faith" upfront deposit to these scammers. I applied for a "refinance" to my existing mortgage for a lower 15 year interest rate than my present one. The 375.00 was an appraisal/application fee which Mr. Brian Pientowski at Quicken Loans said he would "roll over" into the closing costs. The only thing that got rolled over was me! The loan did not go through because the appraisal was lower than anticipated. He did not tell me upfront, that this might happen. (Of course, why would he? I might not apply for the Loan? ) I should have known better. I will be filing a complaint with the NYS Attorney Generals Office. Don Sawyer, Rochester, NY

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5:31 pm EDT

Quicken Loans please do not use quicken loans for any reason

I recently contacted Quicken Loans for a refinance on my current mortgage. I figured they were a reputable company simply because of the amount of advertising they do. After hearing what they could offer me, I agreed to pay the $400 upfront appraisal fee. Originally, Quicken had told me that the interest rate would be locked when I gave them the $400 deposit. Towards the end of drawn out and delayed process, I learned that the rate had gone up .375%.

This is when i started doing research to see if others had similar experiences. I read all of the negative reviews from this website, many of which having to do with my exact situation. At this point, I attempted to get the $400 deposit fee refunded. When it became clear that I would not be refunded this money, I started to look elsewhere.

I then obtained a new mortgage lender on a recommendation from a previous complaint that someone had written regarding Quicken Loans. The company is First Integrity out of Costa Mesa California. Their website is www.firstintegrity.us.

I could not be happier with my decision. First Integrity kept their word, was in contact with me in every phase of the loan transaction, promptly returned my e-mails and phone calls, did not charge any upfront fees, gave me accurate upfront quotes, and reimbursed all of my closing costs as promised. My loan representative was Sam Pabuwal, phone number [protected].

Please do not use Quicken Loans for any reason. If you need more proof, read all of the negative reviews about them on this website.

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5:24 pm EDT
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Quicken Loans pulled credit report without permission

I was doing a quick check of current rates, considering a refinance from 5.75%. Without asking for permission, the Quicken Loan agent pulled a credit report. This automatically represents a negative on my credit report. Avoid this company.
Gary L Wade, MD

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Wanda Lopez
, US
Mar 25, 2021 10:56 am EDT

Quicken Loans sucks a big one. If I were to even begin to explain my experience that I have had with this lender. A few days away from my closing date, I received a call from Quicken Loans stating that my credit went back down because of something they instructed me to do. This is my first time buying a home and the only thing I was expecting was honest guidance. Hell no, what a bunch of crooks. And please for all the disabled Veterans out there, do not even attempt to use this company. After they are done ruining your credit score so that you can't use any one else they spit you out like flavorless chewing gum. I am now trying to get assistance by a another company, due to the unnecessary mental torment they have caused me. I was in the mist of a mental breakdown.

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RED4377
, US
Jan 27, 2021 3:34 pm EST

I just pulled my credit report and quicken loans was on my experian credit report and they claim I asked them to pull my credit and I never spoke to these people before. I have the date and year and I never have. they are known to do this to people

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BickyBic
, US
Aug 21, 2020 5:43 pm EDT

I agree... I just talked to someone from quicken loans and he told me my credit score was 776 or something close to that number. I immediately told him my credit score had been 850, then another bank that I authorized pulled my credit and my score had dropped to 835. I told the man from quicken loans that I did not want my credit pulled again because my credit score had already been impacted and he said "you don't have to worry about that, we already pulled your credit! so then I knew why my score had dropped even further in the 700's. it makes me sooooo mad! we work our butts off trying to protect and maintain our credit and then an unscrupulous mortgage company comes in and blows all of our hard work. I very strongly agree that we need to start a class action lawsuit so these businesses can no longer access our credit scores without our permission. what I can't believe is how long they have already gotten away with doing this to people! it's time to make it right!

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Rob7770
, US
Aug 15, 2019 2:46 pm EDT

Correction:without asking her to do this

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Rob7770
, US
Aug 15, 2019 2:45 pm EDT

They pulled my wifes credit without her permission. She was on the phone simply listening to the call and the man asks her to verify her acct with the last 4 of her social sec# and her did a hard inquiry with even asking her to do this!

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luna777
, US
May 14, 2019 1:05 pm EDT
Verified customer This comment was posted by a verified customer. Learn more

I am serious about this. They just did this to us as well and I have read thousands of other people say the same thing so let's start a class action lawsuit against them. They have to be stopped because this is essentially stealing money from us. We DID NOT give these scum bags permission to pull our credit.

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Sage Mullings
, US
Apr 11, 2019 5:33 pm EDT

Had the same issue. Representative called be cause i explained i was interested in buying a new investment property but that i didn't have a definitive price point, house listing, and i wasn't even sure what state i wanted to buy in. Representative claimed he just wanted to update my personal information so i gave him my DOb and social securtiy only to have him pull my credit and my fiance's credit. My fiance wasn't on the phone nor did i provide her social or date of birth. We are not married so i can't authorize her credit to be pulled. Furthermore, our resolution advocate informed me that legally if you are on the phone with a credit company and the conversation regarding products and services lasts longer than 5 minutes, they can pull your credit so long as you provide a DOB and social security and the company doesn't have to alert you that this information isn't being collected for the purposes of a credit inquiry. Whats more infuriating is that my credit was pulled 4 mins and 47 seconds into the conversation so we hadn't even reached that legal limit for them to so unethically pull credit scores. Lastly a joint application for a mortgage was initiated, but how could that be possible if neither party wanted a credit report pulled and only one was on the phone with the representative at the time it was pulled. Even after the representative that pulled my credit told me he had my credit score, i was shocked and had to ask when he disclosed that he would be doing a hard inquiry. I know i only have 90 days to purchase a home after my credits been pulled. If i didn't even know what state i wanted to buy in, why would a representative pull my credit. I'm still waiting to hear what the higher ups at the executive office are going to do about the situation. Curious how other peoples situations got resolved and if anybody followed up with legal action. I'm considering getting a record of the conversation via subpoena to verify facts.

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Marcus Magarian
, US
Aug 17, 2018 9:17 am EDT

I had the same exact problem. TOTALLY UNACCEPTABLE! They are a bunch of sharks and i'm furious...

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Elaine Bossingham Edwards
, US
Aug 06, 2018 11:54 am EDT

I have the same story as everyone else...pulled a report because my husband said they could. Who gave HIM permission?!
Transferred all over and eventually, no one would remove the inquiry. Don’t even call these people

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Hunter E Fitch
, US
May 16, 2017 6:09 pm EDT

I'm so disappointed with Quicken as I've been a customer with them for a long time. I got a letter in the mail stating I should call in to have my mortgage reviewed. I got their local representative on the phone and explained that I was THINKING about doing a refi on my home. Low and behold, the same day there was a hard hit on my credit that I DID NOT AUTHORIZE. when I called to ask why they ran my credit, he told me he HAD TO run it to get a credit profile on me and claimed that I gave him permission which is COMPLETE BS as we didn't even speak about running my credit. I never talked specifics with them AT ALL.

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Quicken Loans refinancing my home

I applied for a refinancing loan.They said they could do the va loan.the loan agreement was agreed upon.They stated they needed a good faith deposit of 400.00 dollars.We my wife and I gave our credt card numbers to cover costs.This started the loan process.We in turn supplied them with all the personal information required for the loan.We had to pay for a termit inspection (va required) at our expense.We had the appraiser come to our house for appraisal.The appraisal came in at what we needed to recieve the loan.This loan started on feb. 10 2011.After talking to numerous people about our loan we never got the same person, one loan officer asked what do you do with your money ?I responded none of your dam business.This was about my checkng acct.One person i talked to gave me wrong information and ask about our bank deposits, what do you use your money in checking acct. for?Iresponded none of your business.Don't you have a checking account, most people do to pay bills!Then he told me my termite inspection paper i sent them, had to be on a va form for the loan.I told him no one told me that.My termite inspecter assured me the inspection report was what was required for va loan.Then the real screwing came a few days later.The originl loan was 4000.00 dollars closing costs, and I would receive my 400.00 dollar deposit back.A fixed 4.85 fixed mortgage.30 yr. loan that was the agreement no extra hidden costs.Then they call me to set up a closing.They tell me that they need an additional 1500.00 dollars at the closining.I was pissed, they lied to me and broke the original agreement.At this time I cancilled the loan and ask for my money back, good faith deposit of 400.00 dollars.They waited a week or so and some ex from quicken told me no refund.I told him I was going to report him to consumer protection agency and BBB!

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Quicken Loans not as promised

Early Nov I locked in at 3.875% for a 30 year refinance. House appraised good, my credit is excellent. I am a beneficiary of a Trust so I have to write off losses that the Trust incurs on a schedule K for trusts and estates on my taxes. They kept delaying me saying that seemed fishy. It was if they didn't even know what a trust was. So 3 months go by, now interest rates have gone up almost a full %. They call and say congrats we're ready to move ahead, but of course now they are offering 4.625% with 3.2 points and some outragious closing costs that didn't even make sense. So I bailed. Of course losing the $500 also. So either they didn't understand what a Trust is, which would make them grossly incompetent, or they didn't want to honor the original interest quote since rates were raising rapidly. Take your pick, incompetance or dishonesty. I Dunno, but I recommend you stay far away from Quicken Loans. Oh, and they're not even quick.

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9:23 pm EDT

Quicken Loans false report

Dear Thomas Ciarrocchi,

We received your letter of January 4, 2011, in which you indicated that you were unable to offer us the loan to re-finance our primary residence home. Your letter stated “low-appraised value” as the reason for declining our loan request. I am writing to set the record straight regarding that loan.

Firstly, the loan WAS approved by Quicken Loans, and we had reached the point of meeting with the Notary Public in our home to sign escrow papers. (See the attached approval/escrow letter.) For you to state that the loan was not approved (for any reason) is untruthful and unethical. Perhaps somebody needed to be able to report to his/her seniors that the appraisal came in too low to warrant that loan in order to cover Quicken Loans’ missteps. But, no matter how you try to alter the truth, the fact of the matter remains that the loan was, indeed, fully funded and approved.

Secondly, we had to reject the escrow terms, as they were drawn, because they contained negligent and inattentive errors on the part of Quicken Loans people. When those were corrected, and the loan again fully offered to us, I began to review the entire sequence of events—from that first date in October when I contacted Quicken Loans to inquire about the terms offered in a marketing mailer, to the date in late December, when the escrow package (containing stale-dated payoff and loan amounts) arrived at our home just an hour before the Notary Public arrived.

I recalled the long, slow process taken by Quicken Loans on a transaction that was a very clean application from homeowners who demonstrated and verified:
• excellent credit
• significant equity
• documented W-2 income
• healthy checking and savings account balances, and
• a low income-to-debt ratio.

When an inordinate amount of time had passed before I heard from Quicken Loans, I called you in early December to determine the status of the loan process. I received “explanations, ” rationalizations, the citing of medical problems among the staff and busy workloads to justify the slow service. And this was for a very “clean” loan application! 
I came to the realization that Quicken Loans was not the company with which I would choose to do business in the area of home mortgages, and I am going to ensure that this data is also received by the executives of the company and by the three major credit reporting agencies who may have information in our profile.

This written complaint and exposure of Quicken Loans’ unethical practices would not have occurred if we hadn’t just received your untruthful letter stating that our loan was disapproved by Quicken Loans due to “low appraised value.” We reject that indication, and we will expect a letter of apology and a truthful statement communicating:
a) that we did, indeed qualify for the loan,
b) that we were approved for the loan,
c) that we were the ones who stopped the process, (not Quicken Loans) and
d) retracting the “low appraisal” statement as a false report.

Your request to be considered for future home financing needs will be based upon your handling of this matter.

Sincerely,

RG

cc: Equifax
Experian
Transunion
Law firm of Parcel, Davis & Greenberg

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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.

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