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Complaints & Reviews

poor disclosure, intimidating arrogance

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

  • Jd
    jdunn1 Mar 29, 2010

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

    0 Votes
  • Re
    relieved400 May 25, 2010
    This comment was posted by
    a verified customer
    Verified customer

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

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

    0 Votes

misrepresentation, theft, false statements.

Well first these are the most unprofessional company I have ever had dealing with. They continued to call me...


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

misleading info

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

$500.00 deposit

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

To whom it may concern,

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

Very Truly Yours,

Raymond Manna

cc: Chase Merchant Disputes

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

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

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

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

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

    As mentioned in our reply to the Better Business Bureau, as a compromise we are willing to apply the retained deposit towards the closing costs of a future refinance or purchase with Quicken Loans. If you would like to take advantage of this offer, please contact our Client Relations team at 800-863-4332 so we can make the necessary arrangements.

    If you have any other questions, feel free to contact me directly. [email protected]QuickenLoans.com


    Quicken Loans
    [email protected]

    -3 Votes
  • Do


    0 Votes
  • Kn
    knigmike May 05, 2016
    This comment was posted by
    a verified customer
    Verified customer

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

    0 Votes
  • Th
    thomas sneath Mar 23, 2018

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

    0 Votes

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

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

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

  • Do
    donewidNY Feb 08, 2010

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

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

    0 Votes

unfair business pratices

On November 4th, 2009 I entered into a refinance contract with Quicken Loans. At that time I was given a Rate...

took my money and stalled on the loan

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

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

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

    Again, I'm happy to help. Please contact me directly: [email protected]


    Quicken Loans
    [email protected]

    0 Votes

bait and switch

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

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

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

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

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

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

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

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

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

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

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

  • Ar
    arreeves Dec 18, 2009

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

    1 Votes
  • Ar
    arreeves Dec 18, 2009

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

    0 Votes
  • Thanks for posting.

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

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

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

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

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

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

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

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

    Quicken Loans
    [email protected]

    0 Votes
  • Az
    Azazello13 Feb 11, 2010

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

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

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

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

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

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

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

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

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

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


    Quicken Loans
    [email protected]

    -1 Votes
  • Su
    SusanL Mar 04, 2010

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

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

    0 Votes

mishandled and lied: stay away!

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

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

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

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

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

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

  • En
    ENTITLE DIRECT Dec 13, 2009

    I am very sorry to read of your difficulties with your refinance transaction. From your account, it appears that you were satisfied with the responsive customer service that you received from ENTITLE DIRECT, which of course is our goal while saving consumers money on their title insurance and closing costs. Thank you for selecting ENTITLE DIRECT and we look forward to working with you in the future; if we can be of any assistance, please don't hesitate to contact us at 1-877-936-8485.


    Fred Kauber

    0 Votes
  • Thanks for posting.

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

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

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

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

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

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

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

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

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

    Quicken Loans
    [email protected]

    0 Votes

ripped off 90 years old veteran

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

  • Thanks for posting.

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

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

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

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

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

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

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


    Quicken Loans
    [email protected]

    0 Votes
  • Va
    VAloanexpert Dec 01, 2010
    This comment was posted by
    a verified customer
    Verified customer

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

    0 Votes

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

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

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


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

  • La
    lake14 Dec 09, 2008

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

    0 Votes
  • Ha
    handlebill Jun 11, 2009

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

    0 Votes
  • Ki
    kithenry Nov 04, 2010

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

    0 Votes


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

  • Jb
    jbryan Aug 06, 2010

    Beware- DO NOT REFINANCE THRU THIS COMPANY- MY wife wanted to refinance our home to lower our payment, to give us some breathing room. They told her that i have more debt than credit, HOWEVER, the loan officer in charge wanted to do the loan in MY name as the first borrower. I told them that the loan would not go thru, but they told us we already were qualifiied, and that we would close on the 31st. Then they got an appraiser who said we would have to put up hand rails on the porch, COST ME 700.00. Got that done. Then they changed the numbers on the loan. After that, they requested the 4506- 3 times, and then they made us send them our W-2's, LONG FORM. After all the B.S., and after i lost the phone, satelite service, and am about to lose my truck, they call on the 30th, to say that the loan wont close after all. They said they were going to refund the 21 bucks where i sent the overnite with the W-2's, but havent gotten that, OR the part of the deposit they were "SUPPOSED" to refund. I said from the start that this was a SCAM, and sure enough. Wife should have checked out this complaint board FIRST. I have logged a complaint with the Michigan Attorney Generals Office, ANYONE ELSE THAT WANTS TO JOIN A CLASS ACTION SUIT AGAINST QUICKEN LOANS, PLEASE CONTACT ME AT [email protected] or 828-524-7321. I am going to contact an attorney, and see if i can get a class action suit started against this VERY IRREPUTABLE BUSINESS.


    0 Votes
  • 6g
    6grandkids Aug 19, 2010

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

    0 Votes
  • Yi
    yippa Oct 11, 2013

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

    0 Votes

rip off artists

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

  • Ja
    Jack Apr 19, 2009

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

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

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

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

    This is not the company to use for a loan!!!

    0 Votes


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

awful company

I went through Quicken loans for a mortgage for a purchase of a home in FL. I currently live in PA. I was told that I was approved but, that I needed to have my name taken off my husbands credit cards. So I did this. In the mean time I have taken many trips to FL looking for a house.

On our last trip he told me that he was going to do a pre-underwrite so there would be no surprises. I spoke to him the day before we left and was told everything was a go. NOT! We got there and found a house and were about to get a contract and then all of the sudden my credit scores were too low. This is 3 days after he did the pre-underwrite.

I have since found out that him telling me to remove my name from husbands cards is what lowered my score over 80 points.

Now I have wasted over 2000 on another trip to FL and can't buy a home because they have pulled my credit so many times that my score went down another 40 points.


  • De
    Derek Dec 15, 2008

    As many people know, Quicken Loanshas been involved with a highly publicized over time laws suit for the past couple of years. Every couple of month Bill Emerson will come into the office and bark about how Quicken will beat this. When he finally gets off his soap box and back to his steroids the bankers laugh at talk about what a fool he is on the way back to our desks. We quietly discuss the amount of money we will all get when they lose this case.

    The reason for this post is to bring attention to the balls these guys have despite being knee deep in this over time laws case. Today is Saturday. X amount of us were asked to attend mandatory training today beginning at 8am in Livonia. 8am. On a Saturday. That's right. Furthermore, we were told by Jay Farner 'If you do not attend you will be kindly asked to leave the company'. Meaning we can't collect unemployment for being fired as they will be asking us to leave on our own. Some bankers are dumb enough to buy tiny Jay's threats. Not me. I didn't go. And when I get pulled into the office on Monday and asked to 'kindly leave the company' my answer will be 'No thanks. If you want to fire me, that's fine. I'll go collect unemployment.'

    These are the kinds of scare tactics this company not only lives by, but enjoys.

    If you are an employee nd reading this: they sell you as much as they ask you to sell the 2 point higher than anyone else built in rate. If you are ever pulled into a room don't all for their sales pitch. Never agree that 'it's not working out'. Simply disagree, say you appreciate their concern and if they want to fire you that's fine. But as far as you feel, this has and is working out just fine. This way you can collect unemployment, and spend some of the money Jay likes to use on coke and Bill and Dan likes to spend on steroids for yourself and your family.

    0 Votes

ripped off

We applied for a refinance and were turned down getting some story about the house depreciating and a problem with the appraisal. I was never told I would loose my $400 deposit, never!!! Now I am charged $325 for the appraisal and get a little over $65 back. Ripoff by a bunch of liars.. High pressure to get my money, then lie about it all!!!

I will definately be filing a complaint with the attorney generals office.

The people who talked to me originally would not return my calls, I found out on the website there was a problem!!!

  • Qu
    QuickenLoans Sep 03, 2009

    Hi, I'm Kelly with Quicken Loans. I'm sorry to hear you feel that way and I'd like to try to help.

    I'm sorry that your banker may have not explained your deposit to you. However, the application you signed fully included an explanation of what the deposit is for. Specifically, it's referenced on the document entitled "Interest Rate Disclosure & Deposit Agreement". It's also available on our website for anyone to see: https://www.quickenloans.com/about/quicken-loans-deposit

    And the "story" you got about depreciating values is not made up. Historically, real estate does appreciate very well. But changes in the economy over the last couple years have changed that - it's widely known that home values have dropped across the country. This is nothing we can control - we hire unbiased, 3rd party appraisers so that we always obtain a fair value for your home. I'm sorry this didn't come in where we needed it, but there is simply nothing we can do to change that.

    I'd be happy to look into this further if you have questions. You can reach me directly at [email protected]

    0 Votes
  • Bu
    Butterfly77 Nov 04, 2009

    The same thing just happened to us but we had to give a $500 deposit. We were in NO WAY told that it was contigent upon a home inspection!!! We only bought the house 2 years ago and knew we didn't have the equity from speaking to other companies in the past when the rates dropped. We were told we were approved and the deposit was the next step in securing our loan. We were refunded the difference from paying the home appraiser. I am actually off to call him now because I feel we were completely scammed. I will be filing a complaint with the BBB and whoever else I can. We are on one income and I'm a SAHM so refinancing was very important to us and we didn't have the $300+ to flush down the toilet. I am so upset about this :(

    0 Votes
  • Jo
    John Florida Aug 17, 2011

    I have gone the the Sates Attorney, the FTC, the Governer, will be filing with the BBB, will be filing complaints with other resources

    The US Government needs to do something with Quicken loans

    i was ripped off of $500.00 and because of principal, I want it back, they are a rip off company

    I encourage everyone to file a complaint with you states attorney to get the legal prceedings going agaist Quicken loans

    0 Votes

former employee

As a former employee, quicken loans should be on the top of the list of companies to avoid working for. On...


I have been dealing with quicken loans for 4 weeks now to purchase a 2nd home. It has been the most draining, horrible experience that i've ever had as a customer. I feel manipulated, belittled, harassed, abused, violated and even feel persecuted by this company. I was assured for 4 weeks that I was pre-approved for a certain amount. I was also guaranteed that we locked into a 5.375 rate with only having to pay $450 to buy down to that rate, but I told that I was required to put down a $500- deposit to insure the rate and proceed with the loan process, which I agreed to.
I had to pay off $5500- in debt in order to get my debt/ratio down; didn't want to do that, but complied anyway.
Everyday, for 3 weeks, I was asked to provide more and more information... There was always something else. By the 3rd week, I began to get the feeling that they really had no intention of giving me this loan although I continued to ask daily and was assured that everything was on track for a july30, 2009 close date. Well today is july 31st, and surprise surprise... Last night received a phone call from the so called "vice president" and was informed that they had a problem with the loan. The hud statement had already been sent out to the seller and the title company and I had spoken with 2 others who assured me that I would close on july 31, 2009 (Tomorrow)... Needless to say, the vp told me the rate may be a bit higher and I may have to bring more money to the table to buy down even to a higher rate that 1st promised. They now claimed that they would have to bring my husband in on the loan; which I had been assured throughout the entire process that I did qualify by myself for this amount.
So yesterday afternoon, I had to pull together pay stubs for my husband which I emailed over and btw i'm still being promised a closing tomorrow, but after googling "quicken loans fraud" I found this site and to my dismay everyone has had almost the exact same experience as me... I don't find this a coincident... This company obviously has deceitful business tactics and preys on people for the $500 deposit.
In addition, I had to have the power turned on in the condo that I don't own before the appraisal b/c the "senior mortgage broker" told me if I didn't the appraiser may have to come back and charge me an additional $100-.
I cannot reiterate enough of what a terrible experience this has been. To me, the $500.00 is the least of it. I've wasted countless hours trying to provide material that obviously didn't even matter... Wasted the time of lawyers, associate presidents, my agent, the title company, my bank... And the list goes on. I have taken time away from my children in hopes of once we closed "yesterday" that we could enjoy some real quality time. I've taken time away from my business as well.
I am now going to research a class action lawsuit b/c there must be one out there for this company. I'm sure they're dotted their i's and crossed their t's, but this business practice should be illegal. I told the vp before I even read these complaints that if I treated my customers this way I wouldn't be able to sleep at night... And low and behold, I read a ex-employee say, he didn't know how any of them slept at night b/c of the deceiptful tactics and the constant lying to customers.

I had lined up numerous people to help us move in... And now am going to inconvience these people... I feel duped and violated.

I'm very flabergasted and in a state of "this is unbelievable" that this is allowed to happen. This company needs to be investigated and shut down and made to compensate customers for their stolen deposits, stolen time and energy, stolen faith in people, stolen faith in businesses, stolen promises, stolen hopes and stolen market shares from companies who are trying to do the right thing.

Do not go through quicken loans to get a mortgage.

Buyer beware!!!



Should be illegal (If it's not already)

I wish I had found others complaints 4 weeks ago.

Hard working people and deserving people are getting swindled

  • Ph
    Phil May 24, 2009

    Nothing but loan sharks. They prey on poor people like myself who are in need of financial help. They promise to do everything to help you then when they get your deposit they take it and run. With no way to get your refund back you are out $500. They put down on the Good Faith estimate that my house was worth a lot more than it was. When the appraisal came back lower than that they said they could not finance the home but kept my $500.

    0 Votes
  • Po
    Polo1946 Jun 15, 2009

    FYI, They appraisal is NOT done by a lender, that would be illegal. They order it from a 3rd party. They did not make any profit from it, the appraisal company did. Why should they cover your cost for a product you did not receive from them? That'd be like asking Macy's to pay for your gas there and back even if you didn't purchase an item from their store. Seems obvious to me...

    1 Votes
  • Di
    disgusted greed Feb 20, 2010

    4/09 Quicken Loan is a rip off- I applied for a refinace and being a single mother of 2 this would of helped us financially, I was told many things that were not true and wound up paying $600.00 for their lies- one minute I was approved then after a month I was not and they did not grant me the loan, I feel that they sweet talk you on broken promises to find out in the end that they win anyway- They have the worst customer service I have ever seen- after they get your money you can't even get anyone to call you back or answer your emails- they disgust me and please take the word from the wise and look for another company you will thank me in the end-
    Sincerly disgusted-

    0 Votes