Quicken Loansterrible experience

Review updated:

I seriously can't believe this company is still in business. They rip off their customers, make employees work like slaves, and kick all of the fraudulent activity under the rug. Dan, Jay, Bill, and every other executive for this company have cheated thousands of people and employees. Why aren't they in jail? If this ever gets the attention it deserves, and all of the fraudulent activity is uncovered, they will go to prison for a long time. It's truly amazing that they have dodged a bullet for this long. It wouldn't surprise me to hear someday that Dan paid off someone so he wouldn't go to jail... Probably the same way he didn't go to jail for operating a gambling ring in college. I wonder how he managed to buy the Cavaliers with his criminal gambling background???

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  • Al
      May 14, 2009

    I called Quicken Loans on behalf of a buyer who was told bythe lender to ask seller for credits towards closing costs.

    Because the seller is a devout Muslim whose religion prohibits mortgages, loans and interest rates, I specifically asked Quicken Loans if there are going to be any discount or origination fees. He said no, and he even confimed it in an email.

    By the time we were closing and we looked at the credits that they wanted to apply towards buyer's closing costs, Quicken Loans, to come up with 3 % in closing costs and to buy down the buyer's loan, charged 1% origination fees and .75% loan discount points (is there a difference?), as well as one full month's interest on the new loan.

    The seller was horrified and refused to pay those specific fees. Had they itemized fees for other credits, the seller would have agreed. So I had to find a way to cover the expense for the discount/loan origination fees that th Quicken Loans lender said he would not charge!


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