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ripped off 90 years old veteran
I am filing this complaint on behalf of my 90 year old Air Force veteran father. He was looking to reduce his monthly mortgage payment via a refinance. He came across Quicken Loans advertised 5% interest rate and was contacted by Michael Telekesy, a Quicken Loans rep who told him he could get a 5% rate and would only cost $400. He agreed and Michael came to his home to have him sign preliminary paperwork. At this time my father called me so I could speak to Michael directly to discuss the terms. I live in northern CA.He told me that the refinance would be 5% with approximately $2500 in fees and would save my Dad around $100 per month. I told Michael that if the terms changed that he should rescind the contract. On that basis I gave my Father the go-ahead to continue with the refinance. Several months later my Father called to tell me his new mortgage was much higher than it should be. I flew down to look over the paperwork to discover that his original $70K mortgage was refinanced into a $76200 mortgage with payments of $20 less than the original payments. The loan was also processed as a VA loan which carries additional fees than a conventional loan. Given my Dad's financial circumstances this is totally inappropriate. Quicken Loans explanation was that my Dad had to "buy down" to 5% which accounted for all the additional fees. Why did he promise 5% if he couldn't deliver? This loan should never have been written since it lacks financial soundness, it will take decades to recoup the cost of this refinance. If my parents were years younger I would be the first to say buyer beware but when you blatantly try to deceive a 90 year old Air Force Pilot veteran thats just sad.
The complaint has been investigated and resolved to the customer’s satisfaction.
refinance house, as approved, ook my $500 dollars 6 months later still no closing. they have all paper work ness but change the story with every call.
Called Quicken loans, regarding refinance, they had me full out an application and ask for $500 dollars to lock in my rate and to move forward on the loan. Within two days Quicken called and said I've
been approved, they stated they needed proof of income and some other
papers incl, proof from IRS showing my filed income, some lien papers etc. Gave all ness paper work within two days, called to find out progress of loan, I was told it's in the hands of the underwriters.
Made numerous calls to Quicken loans, poor response time after leaving message, at times no response at all. I recieved a call
November 3rd stating we must close your loan NOW ! I explained Iwas going away and would not return until November 6th to sign all papers. The representative beacame Irrate and said he would get back to me. One week later I recieved a call, telling me my house must be reappraised and I would have to summit a new loan appliction. After
six Months and all commitments by this Company, I do think they owe me my $500 dollars back. PS: I'm now looking for another loan at the
appraisal fee of $400 dollars.
The complaint has been investigated and resolved to the customer’s satisfaction.
scam
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?
The complaint has been investigated and resolved to the customer’s satisfaction.
They took my money, and I'm a 100% disabled veteran $400.00 they said they had the best rates and that was the 1st lie and then they said they would return my money that was the second lie...
If its says quicken on it stay away from it they will steal from you too...
I was scammed By Quicken Loans out of my 500.00 deposit .They took me for a ride it seams, I was told my money would be refunded loan or no loan,
Bryan Endresel and Laura Willsey have just scammed me out of 500, When will the FEDS get this company soon ther has been so many people taken by them .
took my money quickly! loan process dragged on so long i cancelled it and then was given a link to deposit refund link after canceltion. why was this not disclosed in the first place rather than after cancelation. FRAUD!
fraud
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!
The complaint has been investigated and resolved to the customer’s satisfaction.
Beware- DO NOT REFINANCE THRU THIS COMPANY- MY wife wanted to refinance our home to lower our payment, to give us some breathing room. They told her that i have more debt than credit, HOWEVER, the loan officer in charge wanted to do the loan in MY name as the first borrower. I told them that the loan would not go thru, but they told us we already were qualifiied, and that we would close on the 31st. Then they got an appraiser who said we would have to put up hand rails on the porch, COST ME 700.00. Got that done. Then they changed the numbers on the loan. After that, they requested the 4506- 3 times, and then they made us send them our W-2's, LONG FORM. After all the B.S., and after i lost the phone, satelite service, and am about to lose my truck, they call on the 30th, to say that the loan wont close after all. They said they were going to refund the 21 bucks where i sent the overnite with the W-2's, but havent gotten that, OR the part of the deposit they were "SUPPOSED" to refund. I said from the start that this was a SCAM, and sure enough. Wife should have checked out this complaint board FIRST. I have logged a complaint with the Michigan Attorney Generals Office, ANYONE ELSE THAT WANTS TO JOIN A CLASS ACTION SUIT AGAINST QUICKEN LOANS, PLEASE CONTACT ME AT www.pupsforyou1@dnet.net or [protected]. I am going to contact an attorney, and see if i can get a class action suit started against this VERY IRREPUTABLE BUSINESS.
BEWARE OF THIS COMPANY, ALL THEY WANT IS YOUR DEPOSIT, AND WILL WORK DILIGENTLY TO GET IT. THEY DO NOT NEED TO REFINANCE YOUR LOAN, THEY JUST WANT THE DEPOSIT, AND WILL TURN THE LOAN DOWN JUST TO GET IT!
quicken are ###. they constantly harrass me with phone calls when all I did was ask for a mortgage PRE approval. since then they repetatedly call me even though i told them not to
also have had a bad experience with Quicken Loans We have A1 credit and we were told as long as our home appraised for 100, 000.00 we would recieve the loan with a 500.00 GOOD FAITH payment but, I asked what happens if the loan is not approved will I get my 500.00 back? Of course said the loan officer that will not be a problem. So we proceeded with the loan and sent doc online to them also faxed several papers. The first appraisal came in at 196, 000.00 but, they said it wasn't enough to not charge p&I so they said they would pay half of 300.00 for their field appariser to take another look. At that time we had alot of $ and time involved so we did the extra appraisal. It came in much lower and that when they told me that we were declined because of our home value they also said that the 500.00 would not be refunded because of loan fees. This process took 4 weeks! I have contacted my credit card company for stop payment in process now. i tried to print the apprasial online and it was decline so unless they send me BOTH appraisal I should be refunded my 500.00 on my credit card. (just a sideline ALWAYS use a credit card for large purchase) I was mislead and this is fraud! PLEASE stay away from this so called company.
rip off artists
Will fowler told me that i was preapproved then after my (good faith money) reached their account did the appraisal, and then after all that they denied my loan. now why would he do all that on the same day. i have heard of nothing good about quicken loans, all they want is your money and then as soon as they get it, they screw you over. will fowler was rude the whole time, he never listened to what i said, he pretty much said just sign your name, or he would change the subject. so if you are thinking about applying with quicken loans i would highly advise you against them, they are only out for the money, then they dont care, i just wish i would of researced a little more, but i did a little too late and now im out all my money. will fowler tried telling me it was my realters fault for going ahead with the appraisal, when he had nothing to do with it, quicken loans is the one that hurried up and wanted to get it done so that they didnt have to pay me back. the loan officer is the one that asked for the appraisal not the realter.,
so PLEASE STAY AWAY FROM QUICKEN LOANS AND ALSO IF YOU GET A GUY BY THE
The complaint has been investigated and resolved to the customer’s satisfaction.
During my search for a company to use to refinance my home, Quicken Loans called me. After giving them general info, I was told that I was 'just the kind of person they were looking for'. I should have gotten the message right then.
The representative called me back in about an hour and gave me arste and their monthly payment. I told him that didn't match up with other bank offers I had -- the Quicken rate quote was lower but the payment was higher.
I asked him what mortgage amount he was using and he being to answer very vaguely. I asked if he could give me (fax or mail) a good faith estimate of costs and he said there didn't do that until I had made an application (and likely paid a fee for the application.
At that point I realized I was talking to a reputable firm (what loan outfit won;t give you costs?) and very, very Quicken-ly (pun intended) got off the phone.
This is not the company to use for a loan!
crooks
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!
The complaint has been investigated and resolved to the customer’s satisfaction.
awful company
I went through Quicken loans for a mortgage for a purchase of a home in FL. I currently live in PA. I was told that I was approved but, that I needed to have my name taken off my husbands credit cards. So I did this. In the mean time I have taken many trips to FL looking for a house.
On our last trip he told me that he was going to do a pre-underwrite so there would be no surprises. I spoke to him the day before we left and was told everything was a go. NOT! We got there and found a house and were about to get a contract and then all of the sudden my credit scores were too low. This is 3 days after he did the pre-underwrite.
I have since found out that him telling me to remove my name from husbands cards is what lowered my score over 80 points.
Now I have wasted over 2000 on another trip to FL and can't buy a home because they have pulled my credit so many times that my score went down another 40 points.
PLEASE, PLEASE, PLEASE DO NOT USE QUICKEN!
The complaint has been investigated and resolved to the customer’s satisfaction.
As many people know, Quicken Loanshas been involved with a highly publicized over time laws suit for the past couple of years. Every couple of month Bill Emerson will come into the office and bark about how Quicken will beat this. When he finally gets off his soap box and back to his steroids the bankers laugh at talk about what a fool he is on the way back to our desks. We quietly discuss the amount of money we will all get when they lose this case.
The reason for this post is to bring attention to the balls these guys have despite being knee deep in this over time laws case. Today is Saturday. X amount of us were asked to attend mandatory training today beginning at 8am in Livonia. 8am. On a Saturday. That's right. Furthermore, we were told by Jay Farner 'If you do not attend you will be kindly asked to leave the company'. Meaning we can't collect unemployment for being fired as they will be asking us to leave on our own. Some bankers are dumb enough to buy tiny Jay's threats. Not me. I didn't go. And when I get pulled into the office on Monday and asked to 'kindly leave the company' my answer will be 'No thanks. If you want to fire me, that's fine. I'll go collect unemployment.'
These are the kinds of scare tactics this company not only lives by, but enjoys.
If you are an employee nd reading this: they sell you as much as they ask you to sell the 2 point higher than anyone else built in rate. If you are ever pulled into a room don't all for their sales pitch. Never agree that 'it's not working out'. Simply disagree, say you appreciate their concern and if they want to fire you that's fine. But as far as you feel, this has and is working out just fine. This way you can collect unemployment, and spend some of the money Jay likes to use on coke and Bill and Dan likes to spend on steroids for yourself and your family.
ripped off
We applied for a refinance and were turned down getting some story about the house depreciating and a problem with the appraisal. I was never told I would loose my $400 deposit, never! Now I am charged $325 for the appraisal and get a little over $65 back. Ripoff by a bunch of liars.. High pressure to get my money, then lie about it all!
I will definately be filing a complaint with the attorney generals office.
The people who talked to me originally would not return my calls, I found out on the website there was a problem!
The complaint has been investigated and resolved to the customer’s satisfaction.
I have gone the the Sates Attorney, the FTC, the Governer, will be filing with the BBB, will be filing complaints with other resources
The US Government needs to do something with Quicken loans
i was ripped off of $500.00 and because of principal, I want it back, they are a rip off company
I encourage everyone to file a complaint with you states attorney to get the legal prceedings going agaist Quicken loans
The same thing just happened to us but we had to give a $500 deposit. We were in NO WAY told that it was contigent upon a home inspection! We only bought the house 2 years ago and knew we didn't have the equity from speaking to other companies in the past when the rates dropped. We were told we were approved and the deposit was the next step in securing our loan. We were refunded the difference from paying the home appraiser. I am actually off to call him now because I feel we were completely scammed. I will be filing a complaint with the BBB and whoever else I can. We are on one income and I'm a SAHM so refinancing was very important to us and we didn't have the $300+ to flush down the toilet. I am so upset about this :(
Hi, I'm Kelly with Quicken Loans. I'm sorry to hear you feel that way and I'd like to try to help.
I'm sorry that your banker may have not explained your deposit to you. However, the application you signed fully included an explanation of what the deposit is for. Specifically, it's referenced on the document entitled "Interest Rate Disclosure & Deposit Agreement". It's also available on our website for anyone to see: https://www.quickenloans.com/about/quicken-loans-deposit
And the "story" you got about depreciating values is not made up. Historically, real estate does appreciate very well. But changes in the economy over the last couple years have changed that - it's widely known that home values have dropped across the country. This is nothing we can control - we hire unbiased, 3rd party appraisers so that we always obtain a fair value for your home. I'm sorry this didn't come in where we needed it, but there is simply nothing we can do to change that.
I'd be happy to look into this further if you have questions. You can reach me directly at Kelly@QuickenLoans.com
former employee
As a former employee, quicken loans should be on the top of the list of companies to avoid working for. On the surface, quicken loans appears to be an attractive employer. The atmosphere they've created is unlike most workplaces. However, what really happens at the ground level should be exposed, investigated by the government, and brought to an end. If i...
Read full review of Quicken Loans and 24 commentsscammed
I have been dealing with quicken loans for 4 weeks now to purchase a 2nd home. It has been the most draining, horrible experience that i've ever had as a customer. I feel manipulated, belittled, harassed, abused, violated and even feel persecuted by this company. I was assured for 4 weeks that I was pre-approved for a certain amount. I was also guaranteed that we locked into a 5.375 rate with only having to pay $450 to buy down to that rate, but I told that I was required to put down a $500- deposit to insure the rate and proceed with the loan process, which I agreed to.
I had to pay off $5500- in debt in order to get my debt/ratio down; didn't want to do that, but complied anyway.
Everyday, for 3 weeks, I was asked to provide more and more information... There was always something else. By the 3rd week, I began to get the feeling that they really had no intention of giving me this loan although I continued to ask daily and was assured that everything was on track for a july30, 2009 close date. Well today is july 31st, and surprise surprise... Last night received a phone call from the so called "vice president" and was informed that they had a problem with the loan. The hud statement had already been sent out to the seller and the title company and I had spoken with 2 others who assured me that I would close on july 31, 2009 (Tomorrow)... Needless to say, the vp told me the rate may be a bit higher and I may have to bring more money to the table to buy down even to a higher rate that 1st promised. They now claimed that they would have to bring my husband in on the loan; which I had been assured throughout the entire process that I did qualify by myself for this amount.
So yesterday afternoon, I had to pull together pay stubs for my husband which I emailed over and btw i'm still being promised a closing tomorrow, but after googling "quicken loans fraud" I found this site and to my dismay everyone has had almost the exact same experience as me... I don't find this a coincident... This company obviously has deceitful business tactics and preys on people for the $500 deposit.
In addition, I had to have the power turned on in the condo that I don't own before the appraisal b/c the "senior mortgage broker" told me if I didn't the appraiser may have to come back and charge me an additional $100-.
I cannot reiterate enough of what a terrible experience this has been. To me, the $500.00 is the least of it. I've wasted countless hours trying to provide material that obviously didn't even matter... Wasted the time of lawyers, associate presidents, my agent, the title company, my bank... And the list goes on. I have taken time away from my children in hopes of once we closed "yesterday" that we could enjoy some real quality time. I've taken time away from my business as well.
I am now going to research a class action lawsuit b/c there must be one out there for this company. I'm sure they're dotted their i's and crossed their t's, but this business practice should be illegal. I told the vp before I even read these complaints that if I treated my customers this way I wouldn't be able to sleep at night... And low and behold, I read a ex-employee say, he didn't know how any of them slept at night b/c of the deceiptful tactics and the constant lying to customers.
I had lined up numerous people to help us move in... And now am going to inconvience these people... I feel duped and violated.
I'm very flabergasted and in a state of "this is unbelievable" that this is allowed to happen. This company needs to be investigated and shut down and made to compensate customers for their stolen deposits, stolen time and energy, stolen faith in people, stolen faith in businesses, stolen promises, stolen hopes and stolen market shares from companies who are trying to do the right thing.
Do not go through quicken loans to get a mortgage.
Buyer beware!
Scam
Fraud
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
The complaint has been investigated and resolved to the customer’s satisfaction.
Nothing but loan sharks. They prey on poor people like myself who are in need of financial help. They promise to do everything to help you then when they get your deposit they take it and run. With no way to get your refund back you are out $500. They put down on the Good Faith estimate that my house was worth a lot more than it was. When the appraisal came back lower than that they said they could not finance the home but kept my $500.
4/09 Quicken Loan is a rip off- I applied for a refinace and being a single mother of 2 this would of helped us financially, I was told many things that were not true and wound up paying $600.00 for their lies- one minute I was approved then after a month I was not and they did not grant me the loan, I feel that they sweet talk you on broken promises to find out in the end that they win anyway- They have the worst customer service I have ever seen- after they get your money you can't even get anyone to call you back or answer your emails- they disgust me and please take the word from the wise and look for another company you will thank me in the end-
Sincerly disgusted-
FYI, They appraisal is NOT done by a lender, that would be illegal. They order it from a 3rd party. They did not make any profit from it, the appraisal company did. Why should they cover your cost for a product you did not receive from them? That'd be like asking Macy's to pay for your gas there and back even if you didn't purchase an item from their store. Seems obvious to me...
scam artists
I started looking for a lender for a 2nd home back in February 09'. I decided I was going to go with Countrywide Financial, so I did a goodle search for the phone number. I picked the first website that came up as this company name and called. I was not until I was 1 month into the process that I learned this was actually Quicken Loans. That was my first issue, mis-representation. The first time I called I spoke to Tony Cain which he said he would be my contact from here on out if I had any questions or concerns about my loan. I told Mr. Cain I owned a home and was trying to purchase a 2nd home because it was time to move onto bigger and better and I also told him I wanted to go ahead and do an FHA home loan because I was told the down payment was significantly lower then conventional. He agreed with me and told me I was absolutely correct and yada yada yada. We went through the entire pre-qualification process and he sent me a letter letting me know I was ready to start looking for a home. Which I did. I found a home about 3 months later, contacted Tony and let him know I was ready to start the loan process. He verified my information with me again and let me know that I would have to give them a $400 deposit to start the process that would be refunded to me at closing. I agreed even though I found this odd since everyone I talked to had never heard of this before. Tony assured me after a couple phone conversations that it would be refunded to me at closing unless the loan did not close due to my lack of cooperation. No problem I thought! I gave the deposit and we began the process. There were a couple of issues in the beginning; Tony Cain never would return my calls or emails unless he needed something from me which would sometimes be 2-3 days after I called for an update. I was going to rent out my property I currently own once I got my new house. Mr. Cain said I would have to cash the deposit and rent check from my soon to be renter before they even knew if they were going to be able to move into my house in order to finish my loan in underwriting. I thought this was totally imoral because I was taking money from someone that was not even going to be able to utilize the property for 3 more weeks if not more..I did it anyways because I was backed into a corner. In todays economic times $1200.00 is alot of money to ask a person to give you not knowing if they are going to get the money back if the loan does not go through or when they can even move in. I was promised a closing date of 6/29/09, which did not happen because they found they needed additional information as well as me to pay off a credit card to bring the debt ratio down. I got the information they needed and paid off the credit card and sent this all over to them and then was promised a closing date of 7/2/09. I found out the week of 6/30/09 that Tony Cain was out of the office for the week and would not be returning until 7/7/09. I received a phone call on 7/6/09 from the person covering in Tony absence and he asked me if my current home was FHA and I told him yes...I received a phone call from Tony on 7/7/09 letting me know I would not be getting the loan and I would not be closing on 7/9/09 because you are not allowed to have more then one open FHA account at a time...At no time did Tony ever indicate this would be an issue or even ask me if the home was FHA financed. I spoke with several realtors and lenders and they all agreed this is a known fact among the industry and this should have been one of the top 10 questions he asked me in the very beginning. Now I am fighting to get my $400 back because I feel as though had Tony done his job right or if Quicken Loans had provided the necessary manuscript of questions to him then I would have never even looked for a new home, had my heart set on getting the new home and been waiting 2 additional days to close. I was already packed for crying out loud! Emotionally this lesson was very hard on me and it was no financial walk in the park considering I paid off things that were not necessary for me to pay off right now, cashed a check that I now have to return the entire amount to the individual and help find a new rental property for him and his family. Quicken loans plays with your finances and your emotions, not a good mixture. I hope they decide due to their neglegence to refund my $400.00. I will keep you posted! Unhappyhomebuyer Glendale, Arizona
U.S.A.
The complaint has been investigated and resolved to the customer’s satisfaction.
charging fees without a complete application
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!
The complaint has been investigated and resolved to the customer’s satisfaction.
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!
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.
thieves (stole deposit
For those of you considering doing business with this company RUN as fast as you can. I completed an apps with this company at the end of may for a HUD purchase. All documents were sent to to this company, who apparetnly cannot read. Today (June 16th) I was told by one of the client specialist (that's what they call themselves) that it's probably best "we" meaning them & me part because their UW dept would not agree to fund an escrow repair loan for $330, in which the seller was paying me the buyer for the repairs. My agent also spoke with the "client specialist" regarding this and told my agent that they don't work with repair escrow loans. AGAIN they have had the documenta since May and this info is listed on the 1st page of the contract. Needless to say since the specialist felt it was best we part, I asked for a refund of the $500 deposit, he said it was be submitted to accounting. Later in thr evening Iog on to check my email, and see that the coward sent am email basically telling me that since they provided me with access to "view, download, & electroniclly sign anything that required a signature, the deposit covered that. So I guess I paid $500 to look at documents online. Well I'm taking this a step further, because they ahev wasted much valuable time, and now I have to start the process all over with another lender and guess what, they don't require any type of deposits. AGAIN do not deal with Quicken Loans, if at all possible.
The complaint has been investigated and resolved to the customer’s satisfaction.
bait and switch, illegal & unethical charging of discount points
I too have been scammed by Quicken Loans. Like all the other complaints against them, mine include being told my income was sufficient to get a 4.5% 15 yr. mortgage with 0 discount points. After scheduling an appraisal, I was notified by the APPRAISER and NOT Quicken that they were told not to proceed. When I called Quicken the next day, they said their underwriters claim my income was too low for this rate at 15 yrs. I said fine and goodbye. The next day I get an unsolicited call from the "Team Leader" saying they had an "alternative": I could get the same rate of 4.5% for 30 yrs with 0 discount pts. When I asked him how he could do this, he stated "because he wanted to keep me as a customer." All of a sudden, he needed mounds of additional documentation which I began to send in as well as documents on their website that needed "E-signing". One was a NY State Interest Rate Disclosure which all of a sudden had 2 discount points added to it which would have cost me almost $4000 more! In the meantime, I had never been able to access the approval letter and Good Faith estimate that supposedly was on the website. In the meantime, interest rates began to rise which is why they no longer wanted to honor the rates they had originally promissed. This company is totally unethical and MUST BE STOPPED! I will begin a class action law suit against them. Anyone interested that has been cheated by this company can contact me at [protected]@aol.com.
Fight Back! You can complain to the FHA if it was an FHA loan. You can find out the address for the state you are in at www.HUD.gov/offices/hsg/sfh/hoc/hsghocs.cfm
address your letter of complaint to "Director of Quality Assurance Division". Include in your letter the address of the property, the FHA # and your situation. Also contact me at homestylecookie@aol.com. We can discuss beginning a class action lawsuit against them. There is strength in numbers: Lets bring this self-proclaimed multi-million dollar business down!
The complaint has been investigated and resolved to the customer’s satisfaction.
jack up of closing fees last minute
Quicken will take your initial call in less than 30 seconds...after that, the further you are in the process, the longer the wait. It can go as long as 30 minutes if you have to talk with 2 people. I initiated contact with them and set up our account. However, they denied I existed and set-up the account only in my husband's name. The weird thing is is that...
Read full review of Quicken Loans and 1 commentbait and switch tactics
This company should be criminally investigated for fraud and predatory tactics. I paid my $500 and asked for a Good Faith Estimate of my loan and Dianna Burk from Quicken loans refused to provide it to me until after I had paid the $500 only to find out that the actual charges of the loan were much higher than what she had quoted to me on the phone for me to move forward with the loan.
Quicken loans scammed me for $500. Shame on them!
The complaint has been investigated and resolved to the customer’s satisfaction.
deceitful sales tactics
Push sales people convince you into something after you say no, the costs are too high essentially insuring that the loan is an excellent idea and you would be crazy not to do it. He also claimed to have checked county housing trends and comparables to be able to assure me that we had plenty of equity to do it. The deposit is not disclosed until you agree...
Read full review of Quicken Loans and 1 commentcustomer service / unethical business practices
We contacted Quicken Loans Detroit, MI office to inquire about refinancing and after a couple of weeks of discussing our options we received a loan application to sign-off. We were reluctant to sign the application and did not agree verbally with the agent to proceed with processing the loan, appraisal or anything else but the minute Quicken Loans received...
Read full review of Quicken Loans and 1 commentfraudulent company
Well, we bit on it. Quicken Loans has a beautiful website and I suppose it's designed to elicit trust. And I read what other people said, that they ask you for fees and never give the money back, and want your credit card number. With all the scams in mortgage lending, I thought that maybe these mortgage companies learned their lesson and now they were...
Read full review of Quicken Loans and 9 commentslie, lies, lies
When I applied to Quicken Loans to refinance my mortgage, I was initially very satisfied. I got the rate I was looking for, closing costs were exactly what I was quoted, the whole process. application to closing took only 2 1/2 weeks. My one concern was the selling of the note. I did not want to be bounced around every few months. My contact, Doug Laska, assured me that Quickens held the note and that I would be able to refinance at a later date or switch to a 15 year note if I so desired, at no additional cost. Imagine my surprise and anger when I got the letter telling me my mortgag had been sold. Before I even made the first payment! They will lie and tell you anything you want to hear in order to get your business. Once you find out they lied you are no longer their customer anyway and too bad for you.
The complaint has been investigated and resolved to the customer’s satisfaction.
Quicken Loans is nothing but a dirty rotten liar. they pre -approved us . told us every thing was going well to go ahead and put contract on new house to which we did put or earnest money down. but because we did go bankrupt in 2012 which we were up front with them about it. they said no problem . but our mortgage company doesn't report to the three credit bureau's unless your late on your payment's i had to go into my account with my mortgage company and print out my payment history . to send them and i did .my husband also find our payment history on Credit O Karma. com site with a trans union site listed but after having us fax that to them they played games after game with us. finally I told them to either ### or get off the pot well needless to say after screwing us around for weeks we did not get the loan. they lie and play games with people . and they say their number one in the business. they also gave our in-fro out to other lenders to run our credit and all that did was fix our credit to where it was to low to go any where else the damn ### when our credit is built back up and were ready to look again for a loan you can bet your sweet ### it won't be with this damn lying company called Quicken Loans
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About Quicken Loans
![Screenshot Quicken Loans](/images/business-screenshot/752x348/116405/116405-0.jpg)
Quicken Loans offers a wide range of mortgage products, including conventional loans, FHA loans, VA loans, jumbo loans, and adjustable-rate mortgages. The company also offers refinancing options for customers who want to lower their monthly mortgage payments or take advantage of lower interest rates.
One of the key features of Quicken Loans is its online platform, which allows customers to apply for a mortgage and track the progress of their application from start to finish. The platform is user-friendly and provides customers with access to a team of mortgage experts who can answer any questions they may have.
Quicken Loans is known for its exceptional customer service, and the company has won numerous awards for its commitment to customer satisfaction. The company's mortgage experts are highly trained and knowledgeable, and they work closely with customers to ensure that they find the right mortgage product for their needs.
In addition to its mortgage products, Quicken Loans also offers a range of other financial services, including personal loans, auto loans, and home equity loans. The company is committed to helping customers achieve their financial goals and offers a range of tools and resources to help them manage their finances more effectively.
Overall, Quicken Loans is a trusted and reliable mortgage lender that has helped millions of customers achieve their dream of homeownership. With its innovative online platform, exceptional customer service, and wide range of mortgage products, Quicken Loans is a top choice for anyone looking to buy or refinance a home.
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We may be able to help. Visit www.myVArefinance.net. We are a bank and not a broker.
Thanks for posting.
We’ve responded to you previously through the BBB, so I’m going to paraphrase our response here, as it does not change.
We do not agree with your assessment of what transpired during your parents’ loan process. Your parents contacted us about the possibility of refinancing their home. Their goal was to lower their monthly payment so they’d have increased cash flow each month. We discussed several loan options with them and they ultimately decided on a VA loan.
In your complaint, you reference that the loan was only supposed to have $400 in costs. I believe what you are referring to is the $400 Good Faith Deposit we collect at application. We collect a deposit as a commitment to doing business with us, and to cover the cost of third party items such as the appraisal and credit report. When a loan closes, the $400 is credited back on the Hud-1 settlement statement, just as was the case at your parents’ closing. Please reference line 803 of the HUD settlement statement for confirmation the deposit was credited.
We certainly agree it is important that all costs are disclosed properly and we want our clients to make an educated decision to use our services. For this reason, we prepare a Good Faith Estimate (GFE) at application. When we compared your parents’ GFE to the settlement statement, we found his costs were actually $46.00 less than estimated. However, his required escrow reserves were about $500 higher than estimated. This difference was mainly due to the annual insurance premium being due at closing. Insurance would have been due even if they had not refinanced. Actual tax and insurance numbers are not received until we have obtained the title insurance commitment and insurance declaration page from the client’s agent. Because this is a VA loan we are required to escrow the taxes and insurance in monthly payment. This was documented on the original GFE. The GFE was signed by your father and was available to him, or his designate, at any time prior to closing.
As for the loan amount, the difference between what was on the signed GFE and the closing documents differed by around $300, simply due to the fact that your parents did not want to bring money to closing. Your father specifically asked that we restructure his loan so that the costs could be rolled into the mortgage.
They closed on this loan on July 27, 2009 and had three days to review their documents and cancel the loan without penalty. Additionally, we provided the closing paper work in advance and went over the final figures verbally with them. We understand that you do not feel that this loan was beneficial for your parents, however this does not mean that anything inappropriate occurred. There is no basis for any refund, as we disclosed the loan terms as required and worked towards achieving your parents' goal of a lower monthly payment.
If you have any further questions, feel free to contact me.
Thanks,
Kelly
Quicken Loans
Kelly@QuickenLoans.com