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Quicken Loans reviews first appeared on Complaints Board on Mar 1, 2007. The latest review Pulled credit without permission was posted on Jul 5, 2021. The latest complaint warning: do not be fooled!!! was resolved on Apr 24, 2015. Quicken Loans has an average consumer rating of 3 stars from 227 reviews. Quicken Loans has resolved 87 complaints.

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Quicken Loans Complaints & Reviews, Page 9

Quicken Loans — scam

I chose to refinance my home loan with 24 years remaining to 15 years. I spoke to a mortgage broker named...

The complaint has been investigated and
resolved to the customer's satisfaction
Resolved
Quicken Loans — $500 fraud

We received a call on September 8th and were told that they saw we were interested in a refinancing. My...

Quicken Loansfalse advertising/bad sales practices

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

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

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

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

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

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    • Do
      Don sawyer May 13, 2011
      This comment was posted by
      a verified customer
      Verified customer

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

      0 Votes
    • Qu
      Quickenbegone Jan 02, 2011

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

      Contact Your United States Senators

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

      http://www.senate.gov/

      Contact Your United States Congressman/woman

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

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

      Contact The United States Department of Justice

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

      http://www.justice.gov/

      MY FAVORITE:
      Contact The Federal Trade Commission (FTC)

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

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

      Contact The Securities and Exchange Commission (SEC)

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

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

      Contact The Internet Crime Complaint Center (IC3)

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

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

      Contact The Council of the Better Business Bureau

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

      http://www.bbb.org/

      Contact The National Consumer Law Center

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

      http://www.nclc.org/

      Contact The National White Collar Crime Center (NW3C)

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

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

      0 Votes
    • Lo
      loanripoff Dec 28, 2010
      This comment was posted by
      a verified customer
      Verified customer

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

      0 Votes
    • Mi
      mikeHn Sep 30, 2010
      This comment was posted by
      a verified customer
      Verified customer

      Hello Tim,

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

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

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

      1 Votes
    • Dq
      dq1000 Sep 14, 2010

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

      0 Votes

    Quicken Loansterrible customer service and improper selling tactics

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

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

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

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

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

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

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      Quicken Loans — deception, lies, and theft!

      There is nothing Quick about Quicken loans. Read the reviews before you do business with this company. Two...

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      The complaint has been investigated and
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      Resolved
      Quicken Loansgood faith deposit

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

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        • Co
          Consumer Protection reader Apr 17, 2011

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

          0 Votes

        The complaint has been investigated and
        resolved to the customer's satisfaction
        Resolved
        Quicken Loans Mortgageswant to run your credit report before they'll even talk to you

        I called to find out if there was a refi program we'd qualify for. I was armed with all of the necessary financials (adjusted gross income, property value, current mortgage balances--even my credit score!) but the rep would not even talk to me about a program without pulling my credit report. I told him I didn't want my credit pulled, just wanted to know if they had a loan for me based on the info I gave him. He was very vague and said they *might* have a program but needed to run my credit first.

        When I pushed back, he became rather condescending and told me "it sounds as though you want me to tell you I *don't* have loan program for you" (when in reality, I was just being up front about my financial situation) and then was very happy to hang up with me. Apparently, I was wasting his time.

        I'm glad I didn't spend much time and energy with this company. Don't waste yours.

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          The complaint has been investigated and
          resolved to the customer's satisfaction
          Resolved
          Quicken Loansfraudulent practices

          I applied for a refinance mortgage of a condo and they wanted $500, deposit towards closing costs after a preapproval and said it would be returned if we were not approved. All was fine and then they ask if the condo project was 100% complete and I answered no (it is about 80% finished), and they said they do not mortgage condos unless all units are done. I had already applied, they had the appraisal done and then they ask this question?? I had clearly told them I lived in a condo, and that should be one of their first questions. Anyway they do not want to return the $500 deposit-- absolutely the most unprofessional people I have ever dealt with. I have reported them to Attorney General's office and will report to BBB. Horrible. Then the rep said, "I can't remember everything to ask, " and that "it sucks" we did not get he loan. Stay very far away from Quicken No-Loans.

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            Quicken Loansthieves and crooks

            I applied for a refi loan with Quicken. They kept saying it was approved, & kept requesting more documents, which I kept sending, then they charged $500 to my AmEx card, & proceeded to deny the loan, even after saying it was approved for over a month! I tried to get my money back through AmEx, but AmEx could not get it back from them. Quicken is the worst kind of predatory lender there is ~ lying to people, & stealing their money! I was ripped off for $500, plus my current lender charged me $30 for a payoff amount request, & I got absolutely nothing for it!!! I am looking for a class action suit against Quicken, because I've read a lot of complaints similar to mine.

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              • Si
                Sitthisak Phromphuwal Apr 15, 2011
                This comment was posted by
                a verified customer
                Verified customer

                Hi Tyler, I just now ralize that I got scam. I'm so upset about this. I wish I had read this complaint before hand. I guess, we can't do nothing about it huh?

                0 Votes

              Quicken Loans — rip off

              This company is a major rip off, have 800 credit score and they came up with ### 2 days before my loan was to...

              The complaint has been investigated and
              resolved to the customer's satisfaction
              Resolved
              Quicken Loans Onlinepoor 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.

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                • 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
                • 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

                Quicken Loans — misrepresentation, theft, false statements.

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

                The complaint has been investigated and
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                Resolved
                Quicken Loansunreliable

                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.

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                  The complaint has been investigated and
                  resolved to the customer's satisfaction
                  Resolved
                  Quicken Loansmisleading 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.

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                    The complaint has been investigated and
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                    Resolved
                    Quicken Loans — $500.00 deposit

                    Raymond Manna 47 Harkins Lane Meriden, CT 06450 February 4, 2010 Quicken Loans, Inc 20555 Victor...

                    The complaint has been investigated and
                    resolved to the customer's satisfaction
                    Resolved
                    Quicken Loansgave 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

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                      • 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

                      The complaint has been investigated and
                      resolved to the customer's satisfaction
                      Resolved
                      Quicken Loans Inc. — unfair business pratices

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

                      The complaint has been investigated and
                      resolved to the customer's satisfaction
                      Resolved
                      Quicken Loanstook 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.

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                        • 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]

                          Thanks!

                          Kelly
                          Quicken Loans
                          [email protected]

                          0 Votes

                        The complaint has been investigated and
                        resolved to the customer's satisfaction
                        Resolved
                        Quicken Loansbait 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.

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                          • 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
                          • 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]

                            Thanks.

                            Kelly
                            Quicken Loans
                            [email protected]

                            -1 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
                          • 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.

                            Kelly
                            Quicken Loans
                            [email protected]

                            0 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
                          • 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

                          The complaint has been investigated and
                          resolved to the customer's satisfaction
                          Resolved
                          Quicken Loansmishandled 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.

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                            • 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]

                              Kelly
                              Quicken Loans
                              [email protected]

                              0 Votes
                            • 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 [protected].

                              Regards,

                              Fred Kauber
                              CIO, ENTITLE DIRECT

                              0 Votes

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