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Quicken Loans Complaints 247

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Quicken Loans terrible company!

I wanted to refinance our home for a better Interest Rate. Steven Frost Executive Mortgage Banker, ran my credit report, assured me we were fine if I would send him copies of Financial papers proving our income, I did... was told we were 'approved'. He locked in our rate... He told me I needed to give him a CC # for a $500.00 refundable deposit. I did. They ordered the appraisal, Insurance and Tax info and the Title search.

Our home was appraised for $389.900 less than a year ago, I know the value has fallen some and was aware of this. We are in an area where the values have not fallen more than 10%. They never ran my credit card thru until an hour before they called to tell me my appraisal came in at 272, 000 and they could not do the loan. (The interest rates began to go back up some) I believe this had something to do with it. He said he would call me in June (due to the fact our home had been up for sale and was only off the market for 2 months or so) We wanted a 198, 000 loan. I was previously told this would not be a problem.

What upsets me is they should not be able to get the 500.00 deposit. He said, he would 'see about' getting us back some of it. It seems they have a practice of doing this to people.

I believe if the loan does not go thru for whatever reason, (Unless I change my mind) they do not get the deposit.

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Fran
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Apr 24, 2008 8:13 am EDT

I think people should stop thinking that the economic problems are to be blamed on the lenders. You should tell Bankers if your home is listed for sale. That is your resposibility. You should also do a little more research as to what your home is worth. Get curious and ask what homes in the neighborhood have sold for. They are only doing their job and try to help when you call them for a loan. You should pay for your appraisal. Did you know that most of these companyes will charge their employees for appraisals if they refund it to you. Every Approval letter states that you are approved based on the information you provided. Good luck next time and be a little curious for your self, don't expect everyone to tell you what you want to hear.

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Blake
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Apr 24, 2008 6:37 am EDT

it is your own fault if your home is worth less than you believe. any lender is going to charge you for an appraisal it has nothing to do with a deposit. you are frustrated and should be, but lets keep the complaints valid and quit depending on our homes for retirement!

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Kat
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Apr 17, 2008 5:46 pm EDT

Write a clear factual letter to the FTC. Make sure your letter shows a good time line and attach all support documentation, ie: loan approval letter and other documents you provided to Quicken.

I have to say that after reading all the blogs from former Quicken employees; I believe that their
(loan officers) are following the business practices endorsed by the higher level corporate employees. If you do the simple match calculation of the thousands of people they collect their up-front $500 charge, even before they have any idea of whether or not they can help you... they are making a great deal of money from this one avenue of revenue. Let them know that you are writing a letter to the FTC will and maybe theey will have a change of heart about refunding your deposit. Do write to the FTC. This is the only way to put halt to the "fast $500 grab" . You can also post to www.consumeraffairs.com and /link removed/ Good Luck

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Quicken Loans unauthorized billing!

I had decided not to go ahead with a loan and tried to contact avi waldman with quicken and loans the very next day. He wouldn't take my call and when I contacted customer relations his coworker talked to me so my recording would not be on his phone... Two days later $300 dollars was taken off my checking account. I had told them not to withdraw The money from my account more once on that call. I told them that was the the main reason for the call.

After contacting customer relations he had to answer my call. He was a poor excuse for a representative of this company. He was very insulting and told me I still had to pay for the credit reports. I am still waiting for a refund.

They advertise free consultations and the last time I looked You have three days to cancel a loan.

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whogavethemabusinesslicense
US
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Oct 19, 2009 8:05 pm EDT

I was transferred to a talking head at quicken since chase isnt doing business in my state. I was connected to a cheerleader who pulled our credit without asking. It's an fair credit reporting act violation... I called to complain, they backed her up all the way. We went with a real bank for our refi and are very happy. I hope no one ever even thinks of using quicken loans. They make the loan and then sell it to a real bank to service; they keep their capital floating.. I'd just as soon stick a sparkler in my eye before ever having to deal with them again..

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Leslie Pate
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May 20, 2007 12:00 am EDT

Did a cash out refinance with Quicken Loans. My closing costs were also higher than expected, but I proceeded due to being in a hurry and already paying the $300 appraisal fee. Broker convinced me to take out a home equity line of credit in case of future need due to it being free at this time. Agreed, but was very clear we did not want a draw at this time. Signed closing documents immediately, but broker agreed to change the cash out amount (plus old mortgage payoff) to 80 % of the appraisal value as soon as that appraisal came in. Thought that happened when we got a higher amount of cash at closing. Just now found out (when I got a bill in the mail), that he did not adjust the amount on the mortgage at 5.9 %, instead he gave us a draw on the equity line at 10.375 %! I don't want the money at this rate, but don't want to pay closing costs to refinance again. What a scam! They will do anything to raise their commissions. They do not care about their customers. Avoid doing business with Quicken Loans!

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Sher's
Vincennes, US
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Jan 20, 2010 4:47 pm EST

I was told that they could do everything I needed to get credit cards paid off and cobine all in one loan .This was before christmas so they assured me everything was go and they charged mycredit card 500 and got a over limit charge and now they wont show there good faith and return it. Icalled the company after I was told something was wrong with the tittle work from my other loan place This was a bareface lie cause I call the other loan company and tittle work was fine. Also when went to call back again phone # was changed .They told me that I couldnt get any money for credit cards and only thing could do was loan amount I have with anouther loan at same interest but this is not what I was told up til jan 18th.Also there apprasier, did really low apprasial so low house 20, 000 less than before and I had painted added new well new painted shutters and put new metal roof on it after the other app. Which means it app. for probally 35, 000 less than 11 mos ago and home prices have been going up last 4 months .Go figure. They need procecuted

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DanD12
US
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Dec 10, 2009 8:49 am EST

I been unemployed for the last 6 months me and my husband and I are been looking to lower the payments in the house to make it a little easy on us till I get a job, since I am not getting unemployment either. We checked with a couple of local banks and they told us after they review the information they can not give us one because we owe more than the house is worth. At the begining of this month my husband decided to get on line and check, he found the web for Quicken Loans and submited our information.

That same day we received a call from one of the representatives from Quicken and explained to him the situation and he told me they could not do anything either. But the next day I received a call in the morning from Jeremy saying that he was from Quicken and wanted to help me with the loan, I asked him how he was able to help me when the other representative said they couldn't, he said he has more experience, than they work with the FHA and he will be able to help me (I explained to him that the loan was declined before due to the value of the house is less than what we owe according to the other banks).

Later in the conversation he told me to get started he needed for me to give him $500 and if the loan didn't get approve I will get the money minus the appraisal fee. At that moment I asked him again what happen if the house is worth less than what we owe, and he told me we have options (plural) which I assume that they can loan you more than the house is worth due to good credit since my credit is over 700 or something similar (because he was aware at that point than we didn't have any extra money due to my work situation).

Taking in consideration what he told me that he was going to help me to get the loan even in the house value is less I accepted, and taking money than I really can afford to give I gave him the $500.

About 3 or 4 days later we received and e-mail saying that the loan was approve but last Monday December 7 I received a call from Jeremy saying that was not approve and the only way to do it is for me to come up with 8 or 9 thousand dollars (he knows better we don't have that kind of money).

When he called me I was in the doctors office and when I called him later and asked about the options he promised me, he said coming up with the money was the only option and he will send me the appraisal information.

Since I was obset I decided to wait till yesterday to call him back, I told him I wanted to have my $500 back because I was lie from the begining, he said he can not give me back my money. Later I sent him an e-mail telling him that I he didn't give me back my money I was going to do a complaint in the internet.

He called back and told my husband he listened to one of the calls and he said he told me for the loan to be approve the house needs to be worth $73, 000. At that point I sent him another e-mail asking for the recordings to be send to me because if he mentioned something like that I will never give the money because I know for a fact the house with the market drop doesn't worth that much. And if he mentioned after I gave the money I trusted in his word than he had other options for us.

He called me back and offered to return to me $175 and sent me the appraisal, he told me too that he listen to the first conversation with the other rep when I told him what the other banks said but he is saying that I never told him directly to him than the other banks said that house was worth less than the loan amount.

I am requesting to have the full amount send back to me due to his lies and deceiving ways. I requested to get the tapes of the conversations and he is not giving them to me because he knows he did something wrong.If they refusing to do anything I will send a letter to the FHA or whoever I need to and then the public will know what kind of company they are.

And I requested him to send me something in writting saying I am getting back the $175 and he is not doing it either.

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Diane
Gardner, US
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Mar 28, 2009 4:05 am EDT

Got approve then when I saw the settlement statement I was shock to see 2141.37 for disount fee I was never told about. Appraisl was low $130000 but only owe $87736.25, so I had the 20% down payment. Was told they give me that back in cash but I see no paper showing that. I know they got my $500 which they make some excuse to keep. Should I back off or sign in few days and see if I get that back? This is getting shady by the minute. They said I get that back but contract was already done is why they giving cash back.

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Reevez
US
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Aug 15, 2009 3:36 pm EDT

My experience with Quicken Loans - Rock Financial is just more of the same complaints already posted here. Based on the postings here it sounds like the Quicken Loans business model has remained the same since 2017: they promise you satisfaction. Get your $500 good faith payment. Pitch a good program and lock your rate, which will expire after 45 days. Provide appraisers that value your home well below market value. Tell you they have to change your program based on the low appraisal. Try to get you to agree to a less attractive program with higher rate, more points, and more cash at closing. And to top it off they deny you a refund when you finally get fed up with dealing with them and their antics.

I even had the last loan manager I was working with tell me it was my fault because I should have known my appraisal value before I started the process. I worked with the first loan manager (who claimed to be an Eagle scout when he found out I was involved with Scouting) to pull comparisons online to verify my estimates we're realistic. My appraisal came in about 20% lower, or $100k. Not even close to the local comparisons. Beware - Do business with Quicken Loans at your own risk. I, nor my friends and family will make that mistake again.

Investors beware - Short sighted business model that results in eroded customer loyatly and eventual failure.

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Fmorris76
US
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Aug 23, 2010 3:53 pm EDT

I started the process off with Quicken loans through an inquiry through a website. I got calls from four companies and chose to start with Quicken Loans because I remeber them from TV. Long story short, they charged 500 dollars to get an estimate for me which ended up being .25% higher in rate and several thousand more expensive than what was talked about over the phone. When I tried to cancel with them for being switched I was told that I could not get a refund for the money. I am in process of battling that out now. Since then I have started the process with another Broker who told me to NEVER pay any fees up-front for an estimate or a rate lock. I recieved paperwork from this broker and a confirmation that my rate is locked at the agreed upon rate and cost. Do NOT go through this lender for any reason.

If you want a real quote and no charge to find out what you really qualify for, the Broker that I used is First Integrity out of California. I have been working with Jason West there and have been very happy with his professionalism and honesty through the process. Thier website is firstintegrity.us. His phone number is [protected]. Do NOT use quicken for any reason! They are a major rip-off.

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fizzlenatorefiel
Henderson, US
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Jun 07, 2009 1:46 am EDT

I contacted Quicken Loans over 2 months ago to see if i could get approved for a loan. They approved me for a loan in the amount of $200, 000.00 and emailed me a "pre approval letter" stating that i was now approved and to begin searching for my new house. for 1 month i searched for homes and found one that i really liked. I put $3000.00 down to the title company to hold the house and then started the loan process. Quicken loans told me that i needed to pay them a $400.00 deposit to get the loan process started. They told me the deposit was needed to show good faith that i was going to use them for the loan and not any other company, i agreed and payed the deposit.1 week goes by and i didnt hear any word back about the loan, i called them and asked them how it was going and they assured me that it was getting done and they were working on it. Week 2 goes by and they called and said they still needed more information for the loan documents, i agreed to send them everything they asked. week 3 goes by and still the loan was not completed and i called them and they said they needed more information from me to complete the loan process, i agreed and sent the information. Week 4 and the loan was still being processed and i was becoming very close to losing my $3000.00 deposit i gave to the title company, because it was in the contract that it will close by june 5th. I called them and asked to speak with someone in charge. I was later contacted by the regional vice president that assured me that it was going to close the next day and there was nothing to worry about. He promosed to call the next day and i heard nothing back from him. The next day i called one more time and spoke with him and he assured me it was going to close the next day. I heard from him the next day and he told me that he needed more information to complete the loan, i agreed and faxed in what he needed. The next day he called me and told me that it was looking good and it will close the next day. Yesterday (the day before i lose my deposit) he called me and told me that he was unable to approve me for the loan and there is nothing he can do. Today i lost my $3000.00 and also the 400.00 they made me give them as a good faith deposit. Why does Quicken loans take your ss# and proof of income and then pre approve you and ensure you that you are approved for the loan and to go find a house...if later (after you have payed $3400.00) tell you that they are unable to approve you for the loan? Why didnt they tell me after the first 2 weeks of dragging their feet that they can not approve me? Why did they wait until the day before i lose my deposit that they can not do anything for me? Why did they LIE to me 9 different times? I work hard for my money and losing $3400.00 is not an easy loss to accept. DO NOT ever even think about using Quicken loans! They are a group of scam artist looking to make an easy $400.00 off you with no intent of being honest or even completing the loan as they promise. If they were an honest company they would have told me the truth after the first week that they were unable to appove me...i would have had time to find a different loan company and not lose my $3000.00. My email address is Fizzlenatorefiel@yahoo.com. Anyone that wants to share an experience they had with Quicken Loans or want to ask me more questions about their shady business practice, feel free to write me. Quicken loans, you can feel free to email me and explain how you sleep at night taking money from hard working Americans...Class action law suit? P.S. I'm going to post this letter on 10 blogs sites every day for at least a year. I will also email this to everyone on my contact list and ask all my contacts to do the same. P.P.S I forgot, I also lost $400.00 for the appraisal John Fresno, California

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tatyana
US
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Sep 24, 2008 5:29 pm EDT
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I have purchased the house in 2017 . i just looked at my file with quicken loans and I found out that my loan application was made on lies and we are about to lose our home because we cant afford it at 1300 a month payment.At the time i apply for a loan i was making 11.00 an hour working part time and i got approved for 150.000 loan how? i thought that was my credit score that got me approved i guess not that was the lies that loan officer made.I dont know who i can talk to about my situation but something has to be out there who can help me to keep my home.

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corporateadvocates
US
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Feb 02, 2011 1:38 am EST

http://www.reserveathamman.com/

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Quicken Loans terrible experience!

It was one year ago today that I was terminated from Quicken Loans for being outspoken about the stupidity of buying Christmas gifts for directors that earn well into the six figures, and for being part of the overtime lawsuit. On a side note, JP converted to Judaism. He's actually half Italian and was raised Catholic, but since Dan Gilbert is Jewish, many of the directors converted. Talk about selling your soul! I must admit that getting canned actually left me with a sense of satisfaction and relief. I was able to collect 6 months of unemployment and find a great outside sales career.

Excluding military service, I've spent the better part of my working life employed with insurance companies and banks as a sales professional. From schlepping life insurance in people's homes at 10:00PM to writing refinance loans to dissatisfied credit card clients, I've pretty much taken the monetary tour de services financiers over the past 18 years or so. Here are a few things I've picked up along the way:

People possess an infinite capacity to be disrupted by minutiae. If you complain long and loudly enough, you'll eventually get a discount. The customer is seldom right, though mostly tolerated. Pretension is encouraged, as long as you have the ability to pay for it. A little sadism can often go a long way. And so on. But these things are minor compared to the things I've learned from the corporate culture during my 28 weeks at Quicken Loans:

-Intelligence, for the most part, is threatening.

-Political awareness is more important than performance.

-Subservience opens more doors than knowledge.

-Loyalty is contingent on profitability.

-Motivation is primarily fueled by self-interest.

Apathy is rewarded as often as responsibility. Most importantly, I've gained a renewed respect for the resilience of humanity mostly from my underpaid, overworked and disrespected co-workers. Except for J-Mo. When the mortgage industry crashes down in the new year, I look forward to asking him for advice on an I-pod at Best Buy.

I've worked and trained alongside hard-working individuals who have been incessantly misinformed about their competition, condescended to by self-serving leaders (who constantly confuse status with soul) without retaliating. They have done so while retaining their sense of personal pride and professionalism along the way. It was a pleasure to have worked with you.

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Update by Valerie
Dec 09, 2007 12:00 am EST

'We Eat Our Own Dogfood':

-With the little money we pay you for your 60-80 hour work weeks, we want you to buy are junk wall stickers, Fatheads. And for the 1% who actually own a home, we want you to refi with us and pay more so that we can sell your loan in a few weeks, but we will put you on our loan tracking system (we will bug you and try to get you to refill every couple of months to make sure you have no equity).

'A Penny Saved Is a Penny':

-Although letting screwed over employees receive their just unemployment, we can save Gilbert what amounts to his billions as basically a PENNY to you and me. And for our management, we don't try to save on cocaine, we buy the best uncut coke for our incentive trips.

'Every Customer, Every Time, No Excuses, No Exceptions':

-Even if the customer is in a great mortgage program, we can spin it to where we can screw every customer any time. If you are not willing to do this, we will find you and root you out.

'Obsessed With Finding a Better Way':

-We are obsessed with finding better ways to drain every ounce of sweat from our employees. We are obsessed with finding better ways to collect more deposits knowing that they will not qualify.

'Every Second Counts':

-We find suckers to work 60-80 hours a week for peanuts making us very wealthy only to spit them out in the end. We (upper management) enjoy the fruits of all their seconds they put in. Skip lunch, forget your family, you need to be on the phone, if not you may miss that app call. When you get home, log in, that is what the great bankers do!

'Ignore the Noise':

-As half of the sales force is getting fired and directors are strung out on coke, ignore this. Keep working 16 hour days till we fire you so we can get every ounce of sweat from you and turn your loans over to the bankers who are doing favors for directors when you are gone.

'We are the They':

-If you work 80 hours per week, become a coke addict, and divorce your wife and forget your kids, you can become one of us. We are one big dysfunctional family.

'Take the Roast Out of the Oven':

-Even though you don't know anything about mortgages, pretend, and give wrong advice to people on their biggest asset. Don't worry if you screw up, as long as you made Dan Gilbert a few bucks.

'It's Not About Who is Write, It is About What is Right':

-As long as you don't voice your opinion and try to say this isn't the greatest place in the world. In that case, we will have to fire you.

Did I forget any...

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relieved400
Clinton, US
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May 25, 2010 5:20 am EDT
Verified customer This complaint was posted by a verified customer. Learn more

oh hey daveh...wow here you are again...on the payroll are ya? They speak the truth...keeping popping up on all the employee complaints. Are you the pawn that was convinced you are doing a good deed for daddy quicken. Ill take the employees well thought out comments next to the one sentence you have managed to copy and paste.

FU brotha! get a real job.

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daveh
US
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Nov 23, 2008 1:41 pm EST

What a hoot. A disgruntled former employee claims people converted religions to appease Dan Gilbert.

Look, Quicken may work their people awfully hard, but I'm guessing they made a mistake when they gave a delusional nut like you a paycheck in the first place.

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Kat
Send a message
Apr 20, 2008 6:13 am EDT

You should send a factual and detailed letter to the FTC. Your letter will help support the claims of many who have been taken advantage of. The better picture the FTC has of this company, the better for all.

FTC
Consumer Response Center
600 Pennsylvania Ave., NW
Washington, DC 20580

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Quicken Loans i've been scammed!

Quicken Loans - www.quickenloans.com

I recently had the pleasure (not) of working with Quicken Loans. I consider myself a very smart person when it comes to matters of finance. I've had some bad things happen in the past that made my credit situation not so great. I have a first and second mtg. on my home. The first is fixed at 6.75% and the second is also fixed, but at a much higher 14%. The first is for $315,000- the 2nd is around 30,000. I was hoping to combine both of these mortgages for 1 nice low interest rate and was very thrilled when Quicken called me to say that they could offer me one low rate (6.75%) mortgage by combining both of my loans. They just needed a credit card to put my 'good faith' deposit on in order to lock my great low rate. The red flags started going up, but they were promising to deliver. I told them my home was valued somewhere in the $380-390,000 range and was again, insured that I shouldn't have any problem receiving financing. I am aware that the housing market is at an all time low and asked the broker several times what my chances were of my home appraising for enough to make this work. He said that he was 99% confident and that based on the tax records, I should have no problem with the appraisal and if I'd just give him my $500, he would go ahead and lock my rate and order my appraisal. Supposedly, he did that and the appraisal was done within the next 2 days. Unfortunately, my appraisal came back at only $335,000- which made ABSOLUTELY no sense to me because I just had an appraisal done in the beginning of the year that came back at $375,000! There have been several home sales in my area since and it makes sense that that number should have gone up- not down in just a few months time! Well, my Mtg. broker never called after the appraisal and I finally decided to call him to find out about it. He told me the bad news ($335,000) and said that he would speak to his mgr. about doing a value appeal? If that didn't work, he would order a second appraisal. That is where I stand as of now. I should have explored the [redacted] before dealing with this company, and I also should have gone with my gut instincts and NEVER have given them my credit card number. My mortgage broker got rude when I told him that I just didn't feel comfortable giving him a credit card before anything was done, and he promised that all would work out and that I didn't have anything to worry about. Does anyone have any suggestions on what I can do now? Is that $500 just gone, or do I have any recourse? HELP!

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trd54
US
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Apr 17, 2011 5:57 pm EDT

THEY TRIED THE SAME THING WITH ME BUT I KNEW THERE WAS NO WAY I WOULD EVER GIVE THEM $500 TO SUCURE A LOAN! THEN WHEN I TOLD THEM TO KISS MY [censor] THEY CONTINUED TO CALL AND HARASS ME DAILY. BUNCH OF [censor] HOLES WORK THERE! DO NOT US THEM! RUN FOR YOUR LIVES!

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Lisa
Send a message
Jun 07, 2008 10:58 am EDT

I agree slavary was abolished years ago but obviousily Dan is taking out on Americans what Hitler did to his people in the concentration camps!

Is is sickening and I would love to get everyone together and take this to the Supreme Court because this is a supreme court issue.

I also worked at Quiken for 2 years and left it was destorying my entire family and children. It is like a hooror flick they bring red bulls up past 7:00 p.m. so we all could keep working until Midnight...

For what 24, 000 a year and wow 250.00 on a loan that you are making 7k on

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JFromSpringdale
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Apr 24, 2008 8:56 am EDT

By the way I did get my 500.00 back...

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JFromSpringdale
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Apr 24, 2008 8:55 am EDT

I too was ripped off, I complained loud enough and was getting ready to really yell...I was called by the "manager", they made sure I got my 500.00 back.. See my complaint...same story.

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noname
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Dec 19, 2007 9:20 pm EST

Unfortunately your appraisal didn't work out but even if you hadn't given them the credit card, you would still have to pay for the appraisal. My sister went through a broker who pressured into a loan and when she backed out, she had to pay the appraisal. Why should they have to pay for an appraisal when you were misinformed about the value of their home? You should be pissed at the company that let you finance more than the value of the home. unless you are in Seattle or Austin, i'd bet your market value has decreased just like it has all across the country.

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Anaya
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Oct 04, 2007 11:46 am EDT

I used to work for this company. As much as I dislike them (for much different reasons) I have to disagree with your complaint. Appraisals are done by 3rd party companies. Mortgage bankers can't exactly come to your house and do an appraisal. It is unlawful for the banker or the client to have a relationship w/the appraiser, so the company has a 3rd party that sends out appraisers.
Some companies completely disregard this law, and send out appraisers telling them exactly what value they need, and bribe them to give it to them.
This will only hurt you however, in a case like this, where you are lead to believe that your house is worth more than it really is, hindering your chances of getting a good refinance.
So honestly, this has nothing to do with the company or your banker.
I don't have an explanation for his rudeness, however.
I hope this helped clear things up.

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12:00 am EDT

Quicken Loans avoid quicken loans!

I just had a very negative experience with Quicken Loans, so I thought I'd email all of you with a warning so you could avoid a similar experience. I'm hoping you'll pass on this information to others as well.

The radio constantly plays commercials for Quicken Loans, including an advertisement for their "interest only" plan. Because our adjustable rate with our present lender just went up (increasing our monthly payment about $100.00) I thought I'd look into what Quicken Loans had to offer.

Warning! Do NOT work with a company over the phone! You need to be able to sit face-to-face with a loan officer to discuss the options and review the tons of paperwork you'll be signing!

Quicken did everything via phone and fax machine, and they put high pressure on me to get everything signed and returned ASAP or they wouldn't be able to lock my loan rate in. They also want a credit card to cover their expenses during the loan process, which they say will be reimbursed to you in full at the closing. Unless I misunderstood him, and I don't think I did, my loan officer, Robert, told me no charges would go on my card unless the loan was a sure thing, then when the loan didn't go through due to a low appraisal, I found out they charged $316.10 to my card for expenses such as the appraisal.

I've contacted Quicken's Customer Relations Department who says they can do nothing about refunding the rest of my deposit money because, although they randomly record phone conversations, she couldn't find anything discussed between Robert and I to support my claim that he told me no charges would go on the card unless it was a done deal. It doesn't matter that he wasn't returning my calls regarding this issue, or when he finally returned my emails he completely avoided my accusation that he told me nothing would be charged. In my rush to review and sign the 13 pages he faxed to me that he said he needed returned IMMEDIATELY to lock in my rate, I missed the paragraph about the deposit that clearly stated the deposit money will be used to cover Quicken's out-of-pocket expenses, a paragraph that Robert never mentioned to me, but probably would have been discussed had I met with a loan officer face-to-face rather than doing this over the phone with someone who didn't
cover any of the details of the paperwork.

So shame on me for not reading the paperwork thoroughly, and shame on Quicken Loans for using high pressure sales to get your credit card information and your signature on the dotted line. I will never consider doing business with them again, and I wanted to let everyone else know to avoid them when considering applying for a new loan or refinancing.

A last note: That interest only loan is a scam. The interest rate they offered was higher than what I'm paying now! In addition, when they advertise that you can make less than your minimum payment, you must realize that you are short-paying your payment that month and those monies will come due eventually. It's a dangerous and ridiculous idea for a loan. In addition, when I received the 13 pages of paperwork, the page that listed my "minimum monthly payment" had an amount filled in that looked much cheaper than my present monthly mortgage payment, when in fact those numbers were what I would pay if I chose to make less than my minimum monthly payment. In other words, that amount was NOT my monthly mortgage payment on the interest only loan, it was the minimum amount I could make if I chose not to make my full payment. I didn't realize this until my loan was toward the end of the process and I informed Robert, my Quicken loan officer, that my interest only payment would actually be higher than my present monthly payment, and that the paperwork I signed was extremely misleading regarding what my monthly payment would actually be. He stated he hadn't realized the paperwork was so misleading and he'd look into it. Somehow I think everyone at Quicken Loans knows EXACTLY how misleading that paperwork is.

Lesson learned - avoid Quicken Loans! Pass it on!

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Quicken Loans took money from my bank account

We, me and my fiance both applied for the quicken loan get cash today and pay it back. You get paid without our knowledge they charged for something we new nothing about know we owe the bank overdraft fees of $218.90 for what? We will take action with our lawyer against this and they did not give us a loan just took our money.

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Called Quicken Loans to refinance mortgage. The loan officer told me what my costs were and how much money I would receive at closing. After I put down a large hunk of money, they called me to go over the closing cost figures, and gave me a totally different figure.

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About Quicken Loans

Screenshot Quicken Loans
Quicken Loans is a leading online mortgage lender that has been providing home loans to customers for over 35 years. The company is headquartered in Detroit, Michigan, and has become one of the largest mortgage lenders in the United States.

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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Overview of Quicken Loans complaint handling

Quicken Loans reviews first appeared on Complaints Board on Mar 1, 2007. The latest review Mixed Experiences with Quicken Loans was posted on May 17, 2024. The latest complaint warning: do not be fooled!!! was resolved on Apr 24, 2015. Quicken Loans has an average consumer rating of 2 stars from 1169 reviews. Quicken Loans has resolved 87 complaints.
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  1. Quicken Loans Contacts

  2. Quicken Loans phone numbers
    +1 (800) 251-9080
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    Customer Service
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    Spanish Language
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    +1 (800) 863-4332
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    Loan Enquiries
    +1 (800) 508-0944
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    Payments By Phone
    +1 (313) 373-0474
    +1 (313) 373-0474
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    President Director
    +1 (313) 373-1541
    +1 (313) 373-1541
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    Service Expert
    +1 (800) 226-6308
    +1 (800) 226-6308
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    Senior Mortgage Banker
    +1 (313) 373-1154
    +1 (313) 373-1154
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    Account Manager
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  3. Quicken Loans emails
  4. Quicken Loans address
    1050 Woodward Avenue, Detroit, Michigan, 48226-1906, United States
  5. Quicken Loans social media
  6. Andrew
    Checked and verified by Andrew This contact information is personally checked and verified by the ComplaintsBoard representative. Learn more
    Jun 13, 2024
  7. View all Quicken Loans contacts
Quicken Loans Category
Quicken Loans is ranked 12 among 263 companies in the Financing and Loans category

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