Quicken Loanscharging fees without a complete application

M Review updated:

This company makes their money on upfront fees which are never returned regardless of how far into the application process you go. In my case, I worked on an application online and over the phone, and got as far as an electroninc signature. The application was made out in both my name and my husband's and required his signatures as well as mine. The loan broker actually told me while I was filling out the form that I was not seeing the interest rate locked as we had discussed because he could not do that until he had a completed application with all signatures. So, I felt pretty safe giving him some financial information and a credit card number, knowing that the whole deal was dead if my husband didn't sign anything. Less than 24 hours later, we had already told the appraisal company that contacted us that we were not going to go through with the loan application and I contacted the broker telling him the same thing. My husband never signed anything, and we never released authorization for them to gather information on us which was required for underwriting to begin.

Two days later a $500 charge showed up on my credit card. I called and asked for an explanation and for the charge to be reversed. I was told it was too late, they could not refund the money because we had already started the application processing. I said that was impossible because my husband never signed anything. The broker told me that they didn't need his signature because we were married and he was legally bound to any contract I entered into. This is absolute crap and I verified with other mortgage lenders that any document which has a signature line for multiple individuals is worthless without every signature. In fact, a reputable lender operating through the mail will require the signatures to be notarized, not just complete.

I disputed the charge on my card through the credit card company the next day and had to block my credit card and have a new one with a different number issued to me. I haven't seen the credit on my balance yet, so I am still crossing my fingers that I have gotten around this scam.

My advice, if Quicken loans calls you, HANG UP!!!


  • B
      Jul 09, 2009

    Why would you sign documents yourself then? You knew ahead of time that you gave $500, and nobody told you it would not be charged if only one of you signed. It seems understandable to be upset that you are out $500, but that is because you made a poor judgement call, not becasue Quicken Loans is unethical though or mistreating you, they followed through with exactly what they said they would do.

    -1 Votes
  • K
      Aug 18, 2015

    I Agree with complaint, Ive been there. I went through the Mortgage process and they went through the contract with me, not mentioning the charges, when they ask to have your debit or credit card, they tell you just to have it on file, as she went through the contract I was signing it, after I got off the phone, my wife was signing her contract, then noticing that a Good Faith Deposit of 400.00 was to be withdrawn from the card, I stopped and called, they told me I get it back at closing, I cut the cord immediately because they are hiding something if they cant tell you about the charges up front or voice them, especially when you ask, instead they stick it in the middle of a 50 page contract and will not tell you when you ask about being charged anything. They are crooks and today, even after stopping the Mortgage about 2 weeks ago, there is a charge of 15.07 on my debit card. I dont give a crap if we didnt look at it closely or not, the fact is, THEY MISLEAD YOU!!! When I ask why they need my card and if they are going to charge it, and they straight out tell me no, THATS MISLEADING!!! Crooks!! Now im under in my bank account for personal reasons after they told me they werent going to charge anything! CROOKS!

    0 Votes

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