The complaint has been investigated and
resolved to the customer's satisfaction
Quicken Loansfalse leading and stole our deposit


I wanted to refinance my home and closed a deal with Quicken Loan at 3 points and 6%. Next day Countrywide called me and proposed 2 points and 5.875% (1 point = $3000). With a deal like that, how could I pass it up? I already committed to Quicken but I figured that with savings that big, I would rather lose my $500 security deposit and save a lot more over the long term with the countrywide offer.

I called Rachel Fetchko (Mortgage Banker) and told her that I would be alright losing my $550.00 security deposit because I found a much better deal and I appreciated her time and wished her the best. She right away asked me to give her a chance to match the offer Countrywide gave me in order to keep me as a customer and told me she would call me back. Not even 15 minutes later, she called me back and said that Quicken Loans can do the same exact deal that Countrywide offered me. I was ecstatic! Wonderful I told her I'll stay with Quicken Loans.

Another 15 minutes went by and I got a phone call from Mr. Jerry Goldenapple from Quicken Loans. I have never in my life been treated as rude and disrespectful as the conversation I had with him. He told me that I do not understand anything about money and I do not need this new deal that Rachel got for me matching the countrywide one. He said �¢ï¿½ï¿½what are you going to do with that money�¢ï¿½ï¿½ You don�¢ï¿½ï¿½t need it. I was blown away, who is he to ask me such question? Keep in mind this was after Rachel got off the phone with me and told me that she wants to keep me as a customer and matched the deal from countrywide.

If that was NOT bad enough, he went on�¢ï¿½�¦. He told me that if I do not go with Quicken Loans I will never receive a loan at all, that includes countrywide that already made me the offer. My credit score is to low and I do not make enough money (my credit score is almost 800 and I make over 95, 000/yr).

After a long discussion, in which the whole time he told me that I do not need this better deal because I don�¢ï¿½ï¿½t understand money and what would I do with the saved money anyway. (Excuse me but what business is it of his and how dare he even say such things). He told me that I must commit right now to the initial offer (3 points and 6%) or he is canceling my application.

I was in a parking lot and was late thanks to him keeping me on the phone to take my grandson to the hospital. Obviously a lot more important than Jerry, it is no wonder why I said I do not have time to discuss this as I am already late and I cannot commit to anything especially since Rachel told me just 20 minutes ago about the new deal and now you are telling me I must commit to the initial one. Jerry said that he is canceling my application because I cannot commit to the initial deal right that second.

I informed Rachel in writing that after my phone conversation with Mr. Goldenapple I can not continue my business with Quicken Loans and as I understand my application is canceled. Because it was canceled by QL I expect a return of non refundable deposit of $550. Bellow is a copy of the email I sent to QL.


2 days ago I had very bad experience while talking to Jerry (not sure about his last name, but his phone number is [protected]). During phone conversation he assaulted me, demonstrated inappropriate attitude, and in the end told me that he is going to cancel my loan application. I had recorded this part of our conversation for future references and also I have a witness of this conversation who was sitting next to me in a car.

After everything that happened I do not feel comfortable to continue working with Quicken Loans even if Jerry changes his mind and continue processing my application.

I believe that since Jerry (not I) initiated cancellation of my loan application I am eligible to receive my deposit of $550.00 back.

I am very sorry that our business relationship wasnt successful."

I have never met anyone as rude as Jerry. Maybe that kind of a sales approach works on someone, but yelling at me and telling me that I dont need to save money and I dont understand money amongst other things is inappropriate on every level I can think of.

This story ended with me having a great experience with Countrywide. I did close my refinance with the numbers they initially proposed to me. I suppose Jerry was wrong? There is actually someone that will work with me and give me a loan. I cannot imagine how Jerry has a job with QL, a respectable company.


  • An
    And Justice for All... Nov 06, 2010

    This guy walks around with a bat to scare his sales people. He is rude, obnoxious, and unstable. The thing is, Quicken Loans loves him. They are all about ripping people off and Goldapper is really good at it. I think he would punch is mother for 1o bucks.

    0 Votes
  • Ny
    Nyfamily Feb 28, 2010

    This place had me sent me RED Flags, they called us, telling us that my daughters bank First franklin was sold to PNC. Quicken had a good package for her mortgages and all the mortagaes from First Franklin. I felt uncomfortable, and told Mark, we would check this out. He volunteered to give us a phone number for Verification. I assumed it was from First Franklin - wrong, it was for Quicken. Mark said if I call First Franklin I would probably end up with someone from Customer Service who doesn't know they have been sold to PNC. So I have been on line checking with the Better Business bureau, they have 981 complaints. Then I came to this site, well, everyone should check your site. I will call First Franklin and see if they know they have been sold to PNC. Waiting to see if this is a scam.

    0 Votes
  • Gi
    Gil Danbert Sep 30, 2009

    As a former employee, I wholeheartedly agree with these accounts.

    These happened regularly and were taught to us in "sales training". One of the the techniques that was taught during "Sure Speak" training by Darren Schwartz is called a "Pivot", which is basically changing the subject whenever the client raises an objection to a product or service that they are being sold.

    Likening Quicken Loans "Bankers" to used car salesmen is generous. The sales staff is carefully selected from groups of people who don't know any better. Watch "Boiler Room". Do you remember the scene where the only real licensed stock broker in the room is kicked-out? That's Quicken Loans, only they don't hire career Mortgage Bankers. The management will stop at nothing to make sure that their underlings keep their numbers up, even if it means demeaning the client. From the top to the bottom, the management encourages their subordinates to buy flashier cars, to live in huge McMansions and to buy expensive clothes, so that everyone is motivated to make more money to stay on top of their debts. I know perfectly qualified people who were not hired because they had wives and children who would expect them to be at home more than at work. Look at all of the posts by employees of Quicken Loans here and on [redacted], they have a lot in common: either people like me who figured it out or the people who obviously still have the taste of the kool-aid in their mouths.

    Yes, Jared Goldapper is a bully. That's the way he manages, because that's the way that his boss (Jay Farner) manages him. The truth is that Quicken Loans makes such a high margin and grew so much through the mortgage bubble that trying steal loans back from the competition (as a matter of fact, Quicken Loans used to broker several Countrywide Loan products), on the part of "Divisional Vice Presidents" and "Team Leaders" becomes a sport.

    Quicken Loans is only related to the Intuit software family in name only. DO NOT confuse Quicken Loans with a reputable operation. Quicken Loans is the at the center of lawsuits for violations of labor laws and I'm guessing that one day, there will be a sexual harassment suit and maybe a predatory lending probe.

    0 Votes
  • Ab
    ABrown Dec 23, 2008

    I had a similar experience, the manager came on the line and called me an idiot for not jumping on board when a lower rate was offered and expressed distain and disbelief that I would wait for rates to rise more!

    I hung up on him.

    I can't believe I paid these guys for a rate-lock - they are first rate used-car salesmen. This is the same tactics that you get when buying a used car. Every step of the way, they aggressively make offer after offer that appear on the surface to be good, but when you look into it in more depth, there is a twist that devalues it.

    Some examples:
    - The promise of a zero-points, zero-cost interest rate conversion option is utterly worthless. The idea here is that they will call you to give you a better rate if one comes by. But, of course, no mention of how the rate is determined is mentioned. Basically, the salesman admitted that this is a "we'll call you when WE want to renegotiate your loan if we think you are going to refinance with someone else."
    - They were insisting rates could go up at any time while they were in freefall.
    - They call you incessantly, to keep you focused on them as broker. They will catch you in your moment of weakness, when you don't have time to do due diligence and maybe not in the mood to argue.
    - They actually used this argument: At a time when I could get a loan for 5.0%, they advised me to take a 5.675% refinance loan with no cost (my existing ARM is 5.375% for next three years) and then if the rate goes down more, they will execute another zero-cost refinance for me. So, why would I not just wait until rates go down and not be locked into a single broker??? How stupid do they think I am? I can't believe these guys.

    These guys are the reason why we are in this sub-prime mess in the first place. Two thumbs-down. Avoid the hard sell, they always have something up their sleeve.

    0 Votes
  • Gr
    Greg Nov 04, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I want to tell you about a Executive Banker by the name of Mike Brennan. He hooked up with us, went through the whole process acting all profesional and stole our deposit. caused us to be behind in our payment because of what we had to do to satisfy our loan requirements. "Oh but they were gonna pay that " and then at the end when we were suppose to go sign everything. It was denied. .And he was sorry. Maybe come back in a year he said. Now we are screwed and have to seek Legal services to get our money and fix our credit.

    -2 Votes
  • Mb
    mbrennan02 Jun 02, 2017
    This comment was posted by
    a verified customer
    Verified customer

    @Greg Nobody stole anyone's deposit it. It was part of the application to pay for the appraisal which would have been refunded back at closing. Quicken Loans did not cause them to be behind on their payment. They obviously had more problems and Quicken Loans was only trying to help. This is more of a story about an irresponsible homeowner that someone tried to help only for them to try and place the blame elsewhere.

    2 Votes

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