United States - 48226-1906
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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.
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.
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.
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,
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.
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
On November 4th, 2009 I entered into a refinance contract with Quicken Loans. At that time I was given a Rate...
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.
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.
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.
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.
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?
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!!!
Will fowler told me that i was preapproved then after my (good faith money) reached their account did the appraisal, and then after all that they denied my loan. now why would he do all that on the same day. i have heard of nothing good about quicken loans, all they want is your money and then as soon as they get it, they screw you over. will fowler was rude the whole time, he never listened to what i said, he pretty much said just sign your name, or he would change the subject. so if you are thinking about applying with quicken loans i would highly advise you against them, they are only out for the money, then they dont care, i just wish i would of researced a little more, but i did a little too late and now im out all my money. will fowler tried telling me it was my realters fault for going ahead with the appraisal, when he had nothing to do with it, quicken loans is the one that hurried up and wanted to get it done so that they didnt have to pay me back. the loan officer is the one that asked for the appraisal not the realter.,
so PLEASE STAY AWAY FROM QUICKEN LOANS AND ALSO IF YOU GET A GUY BY THE
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!!!
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.
PLEASE, PLEASE, PLEASE DO NOT USE QUICKEN!!
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!!!
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.
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