Quicken Loans
Reviews and Complaints

I am filing this complaint on behalf of my 90 year old Air Force veteran father. He was looking to reduce his monthly mortgage payment via a refinance. He came across Quicken Loans advertised 5% interest rate and was contacted by Michael Telekesy, a Quicken Loans rep who told him he could get a 5% rate and would only cost $400. He agreed and Michael came to his home to have him sign preliminary paperwork. At this time my father called me so I could speak to Michael directly to discuss the terms. I live in northern CA.He told me that the refinance would be 5% with approximately $2500 in fees and would save my Dad around $100 per month. I told Michael that if the terms changed that he should rescind the contract. On that basis I gave my Father the go-ahead to continue with the refinance. Several months later my Father called to tell me his new mortgage was much higher than it should be. I flew down to look over the paperwork to discover that his original $70K mortgage was refinanced into a $76200 mortgage with payments of $20 less than the original payments. The loan was also processed as a VA loan which carries additional fees than a conventional loan. Given my Dad's financial circumstances this is totally inappropriate. Quicken Loans explanation was that my Dad had to "buy down" to 5% which accounted for all the additional fees. Why did he promise 5% if he couldn't deliver? This loan should never have been written since it lacks financial soundness, it will take decades to recoup the cost of this refinance. If my parents were years younger I would be the first to say buyer beware but when you blatantly try to deceive a 90 year old Air Force Pilot veteran thats just sad.

Called Quicken loans, regarding refinance, they had me full out an application and ask for $500 dollars to lock in my rate and to move forward on the loan. Within two days Quicken called and said I've
been approved, they stated they needed proof of income and some other
papers incl, proof from IRS showing my filed income, some lien papers etc. Gave all ness paper work within two days, called to find out progress of loan, I was told it's in the hands of the underwriters.

Made numerous calls to Quicken loans, poor response time after leaving message, at times no response at all. I recieved a call
November 3rd stating we must close your loan NOW ! I explained Iwas going away and would not return until November 6th to sign all papers. The representative beacame Irrate and said he would get back to me. One week later I recieved a call, telling me my house must be reappraised and I would have to summit a new loan appliction. After
six Months and all commitments by this Company, I do think they owe me my $500 dollars back. PS: I'm now looking for another loan at the
appraisal fee of $400 dollars.

WE also started a refinance with quickenloans. They took our credit card and charged 500 dollars and said we would get it back at closing. they said we were recording our conversation so we talked about the 500 in detail and told them our history and they swore it was not a scam. They took our money, we didnt get a loan our credit is excellent, and when we threatened with a lawyer that all was recorded, they could not find that recording how convenient. We didnot get our money back, we are going to take further action. has anyone got anywhere?

Quicken told me I was approved based on the info I gave them. I sent verification including very personal information which they claimed was insufficient. I sent them my tax returns, bank statements, property tax appraisals on other income producing property, proof of insurance, trust interest earnings, etc. My home appraised for above what I told them and I only wished to refinace less than 2/3s it's value.They charged my credit card telling me it wouldbe deducted off of my closing costs but then declined the loan. RIP OFF! RIP OFF! RIP OFF! Lying, ### loan officers lie, lie, lie and are the ### of the earth telling you how much they want to help you lower your costs!

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

Loan officer Lydia Garza quoted me a monthly payment reduction of over $200 to refinance with them. She told me I had to give her my card number to lock in the rate before she could send me a good faith estimate. Once she sent me the good faith estimate I saw why my rate was so much lower. She lowered the amount taken out to pay my real estate taxes by $200. Now they do not want to refund the $400 eventhough I was LIED TO! Thesse guys are shady and corrupt. I'm not sure why HUD lists them as acceptable lenders. They are crooks!

I went through Quicken loans for a mortgage for a purchase of a home in FL. I currently live in PA. I was told that I was approved but, that I needed to have my name taken off my husbands credit cards. So I did this. In the mean time I have taken many trips to FL looking for a house.

On our last trip he told me that he was going to do a pre-underwrite so there would be no surprises. I spoke to him the day before we left and was told everything was a go. NOT! We got there and found a house and were about to get a contract and then all of the sudden my credit scores were too low. This is 3 days after he did the pre-underwrite.

I have since found out that him telling me to remove my name from husbands cards is what lowered my score over 80 points.

Now I have wasted over 2000 on another trip to FL and can't buy a home because they have pulled my credit so many times that my score went down another 40 points.

PLEASE, PLEASE, PLEASE DO NOT USE QUICKEN!

We applied for a refinance and were turned down getting some story about the house depreciating and a problem with the appraisal. I was never told I would loose my $400 deposit, never! Now I am charged $325 for the appraisal and get a little over $65 back. Ripoff by a bunch of liars.. High pressure to get my money, then lie about it all!

I will definately be filing a complaint with the attorney generals office.

The people who talked to me originally would not return my calls, I found out on the website there was a problem!

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

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.

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!

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.

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.

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!

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.