Quicken Loans
Reviews and Complaints

First I was told I could close on our new house on the 15th of may. I was able to get the 20% down necessary to do so. The agent was well aware that I wasn't closing on the sale of my home until the 31st of may. Then, the closing date for a reason unknown to anyone got pushed back to the 26th, despite me providing all the necessary paperwork and information needed to close on the 15th. The people selling the house we are purchasing are not from the area, so obviously this was inconvenient for them as well as myself. So, the 26th was agreed upon finally by the realtor, the sellers and myself. I had to provide a pre-closing statement from the financing bank of the people who were purchasing my house as well as an ira statement showing the distribution for our 20% down payment on our house that we were purchasing. A day later and 3 days before the closing date of the 26th, our quickloans banker informed me that we could not close on the 26th because the payment from my old house would still showing a debt-to-income ratio that was too high. So, why did I bother getting the ira statement and the pre-closing statement from the financing bank? Again, the selling party was actually traveling the week of may 31st, as it is a holiday weekend prior. I am in jeopardy of losing this entire deal now because of the poor management of your organization and your agent. I am extremely dissatisfied with how this was handled. I now have 1 day to move everything from my house, whereas we had planned at least 5 days! I will strongly recommend to anyone I know not to seek financing from your organization and will plan on refinancing with a local bank as soon as I can. My advice to your organization is — get your reps some facts and data. Answers should be black and white when it comes to financing and not one day "yes" and another day "no." I have strained my relationship with my realtor as well as the sellers and that cannot be repaired.

I had a conversation with Mr. Dan Trotter yesterday, and to say the very least, I felt humiliated by his questioning, and by his tone. It's none of his business that I give a reason why I've waited so long to refinance, he did not provide me his NMLS number at the initiation of our conversation, listen to the tape, and after being in lending for 33 years, there is no way I would ever speak to a prospective customer in the manner in which I was spoken to. His tone was extremely condescending, and he's lucky I'm not taking this complaint further. I NEVER want to hear from Mr. Trotter or Quicken Loans or make certain I will escalate my complaint. To say that I was extremely upset after speaking with Mr. Trotter is a huge understatement. You would be better served to hire employees that don't talk down to prospects.

Joe Sook

They demanded my Social and dinged my credit before asking me simple questions that showed that I was ineligible to fill out a loan application for another month. It was totally unnecessary for them to ask for my personal information or ding my credit.
All they needed to do was ask if I had taken out a loan in the last 6 months. I would have said yes and they would have said, "Don't give me any personal information until 6 months have passed."
The agent was Michael Kirkgaard Ex.59558

Credco/quicken loans obtained a copy of your experian credit report.

New inquiry alerts notify you when a company has viewed a copy of your credit report as a result of a loan or credit application.
I responded by calling into your customer service center, in response to the solicitations sent to my home, on 12-14-16. a simple inquiry into what the current rates were to refinance my home resulted in 3 "hard-inquiries" on my credit report. this dropped my score 13 points from 682 to 669. that dropped me from the "great" category to the "good" category. i never started an application and told the rep that i was just interested in current rates. can someone contact me to discuss this matter at [protected].

Alert date 12/14/2016
Source experian
Phone [protected]
Address po box 509124san diego, ca [protected]
Company credco/quicken loans
Credcoquicken loans obtained a copy of your transunion credit report.

New inquiry alerts notify you when a company has viewed a copy of your credit report as a result of a loan or credit application.

Alert date 12/15/2016
Source transunion
Phone [protected]
Address 1050 woodward ave detroit, mi 48226-
Company credcoquicken loans

Corelogic /credco obtained a copy of your equifax credit report.

New inquiry alerts notify you when a company has viewed a copy of your credit report as a result of a loan or credit application.

Alert date 12/15/2016
Source equifax
Phone [protected]
Address po box 509124san diego, ca [protected]
Company corelogic /credco

I was contacted by Quicken Loans regarding a house I wanted to buy. The banker was really nice at first. He told me my closing costs would be 2, 800 and I thought that was great! I can do that without a problem. I found the house I wanted and made an offer. My realtor told me that my closing costs would be in the 5-6k area. I was floored. I told her what I was told by the banker at QL. She contacted them immediately. Keep in mind, she was referred to me by them. The banker called me that night, not so nice now, telling me that I was not to listen to the realtor. He kept telling me that my closing costs would only be 2, 800. Told me to listen to him and no one else. So, even though my gut was telling me differently, I still proceeded. As the process continued, the underwriter contacted me with my closing costs. I nearly stroked out when he said close to 5k. Now, granted there was a judgement of 1k in there that I knew about, but my closing costs should NEVER gone up by this much. I told the underwriter what I was told as my closing costs and they could not explain it either. I divorced two men for lying to me. Did QL not think I would walk away from a loan for it? Please... You lie like a rug, QL! I will tell everyone I know about your scummy bankers and shady deals. Now I find out I am eligble for the Saphire FHA loan. QL never said a thing about that. What rip offs! I will refer all my friends to my new mortgage broker before I will let anyone deal with these people at QL.

I keep getting emails from this guy trying to get my company to send him loans. It says it's from Quicken Loans. No opt out and no way to stop it other than emailing him directly. PLEASE tell me Quicken Loans follows the basic anti-spam laws now in place. this guy should be reprimanded at the very least.

Dear G.,

Depending on which research you check, First Time Homebuyers account for 30-50% of the purchase market. That typically means lower down payments, and QLMS has the products and resources to support your success.

Product Highlights...

CONVENTIONAL
• 97% LTV and 620 for FTHB. Learn more about Home Possible.
• Agency High Balance to 95% LTV and 50% DTI with just a 620 FICO on DU.
• Industry-leading MI pricing
FHA
• Up to 96.5% LTV, 100% CLTV.
• 580 FICO minimum on purchase or rate/term refinance.
• Streamlines - 640 FICO minimum, No appraisal, No AVM pulled, No income for W2 and self-employed!
VA
• Up to 100% LTV.
• QLMS covers the non-allowable fees.
• Tons of resources including dedicated hotline, marketing support, and VA Resource Center!
JUMBO
• 700 FICO score up to 80% LTV on Primary and Second Homes to 43% DTI.
• Loan amounts up to $3 Million on Fixed or ARM products. 15 and 30 yr Fixed. 5/1 and 7/1 ARM.
• Cash Out up to $500, 000 on Primary or $250, 000 on Second Home.
The only thing higher than our LTV options is my commitment to building a partnership with you. Give me a call today and let's get started!

Chad Foster | Account Executive
Phone: [protected]
Email: [protected]@quickenloans.com
Website: www.QLMortgageServices.com

PLEASE MAKE HIM STOP ILLEGAL SPAM.

Was going through refinance and paid $500 for the appraisal. Appraisal came back fine enough to proceed. There was another hang up as appraisal stated I need railing on my front porch. I said fine but it would take a cup le of months for them to fabricate and install wrought iron railings. Railings are now done and went back to myql to finish loan and couldn't sign in. They said I had to start the process over. At this point I was aggravated and went to my local credit union to just get a loan from them and they said they didn't even need to do an appraisal as long as my appraisal was within the last year which this was only 4 months old appraisal from Quicken they said they needed an original color copy so I called Quicken and I said can I get a copy of my appraisal the original copy and they are refusing to give it to me they said they would give me a black and white copy but they refused to give me a color copy I paid $500 for that appraisal I think that I am an owed an original copy of that appraisal otherwise I'm just out $500. NOT sure how to fight it. complete BS. STICK with local and stay away from big corporations like quicken.

Just a group of con artists in my opinion. I applied for a loan and paid $500 “good faith” money. They hired an appraiser that had no idea what he was doing. He gave a very lowball price that was 30% the appraisal done 4 years earlier. I provided documents (new comps) that showed the appraisal was undervalued by at least 40%, yet Quicken loans refused to adjust, or have the appraisal done again. The simply rejected my application and kept my money.

Yesterday (9/29/16), I was checking rates on a refi. Quicken Loans called and persuaded me to give out my spouse's and my socials and asked if he could pull my credit report. I said no because too many checks can cause your rate to go down. He kept pressing me -- over and over -- until I just hung up. Turns out he DID pull my records just an hour before I selected another company, which made my rating go down about 20 points. TOTALLY pissed off.

A Quicken Loans sales rep continued to aggressively pursue my client although they had already made complete loan application with a local mortgage company. The sales rep promised they would save a ton of money. I could not talk them out of going with them.

To make a long story short, the Quicken Loans sales rep provided a lot of misinformation by letting my client believe that their Origination Fee was NOT a Quicken Loans fee and was a VA fee . The Quicken Loans "TEAM" did NOT provide my client with the status of their loan until ONE DAY BEFORE closing. Quicken Loans was not able to offer them the loan my client applied for and instead OFFERED ANOTHER loan that cost more, etc., etc.

As a result, my client was not able to close by the contract date and the seller would NOT extend the contract. My client did not get their "dream home" and lost their deposit, appraisal fee, and inspection fee !

After this horrible experience, they made an offer on a different home and went back to our local mortgage company. They were able to obtain approval and close a VA Loan in record time AND the local mortgage company provided excellent service, unlike Quicken Loans !

I would NOT recommend Quicken Loans to anyone buying a home under any circumstances !

A sales rep from Quicken Loans continued to aggressively pursue my client that had ALREADY made a full loan application at a local mortgage company and promised them tremendous savings by making the change. My client wanted to go with them and I could not talk them out of making the change.

To make a long story short, the sales rep lied to my client and let them believe that an Origination Fee, was NOT a Quicken Loans fee and told them it was a VA fee. The sales rep supplied a lot of misinformation to my client . There was no savings by going with them AND The Quicken Loans "Team" was not able to give them loan approval until right before my client was supposed to close. ONE DAY before closing they told my client they could not offer him the loan with the terms he wanted but could offer him another product which costs more, etc, etc.

My client could not close on time and the seller would not extend the contract . My clients did NOT get their dream home. They lost their deposit, appraisal fee, and the money they spent on inspections.

I would NEVER recommend them. They are unethical and do not deliver what they promise.

By far the worst customer service I have ever received in my life. The representatives are "yes ma'am, we understand but we did nothing wrong" kind of people and it's a total sham. The second I indicated any interest in exploring the home buying process this company called me 8 times within 8 hours and left 3 voicemails. When I eventually answered and was connected to a banker to get some more information I openly admitted that I knew NOTHING about the mortgage process and he began asking me where I was at in the process and I said that I literally just started and knew NOTHING about any of this. When he pulled my credit he informed me A) that because I have student loans in deferment I was disqualified from pre-approval and B) that this was a HARD inquiry on my credit score. Minimally, the fact that I openly admitted to not knowing a single thing about the mortgage process he should have mentioned the hard inquiry beforehand, as I would have immediately stopped the conversation because being in the first week of exploring home ownership, I clearly was not at that stage yet. He neglected to tell me that because as a phone representative he just wanted to make his sale. Second, I screen clients all the time before actually setting them for an appointment and when there are “red flags” or immediate disqualifiers such as student loans in deferment, that is something that can be discussed prior to starting the entire process and putting a hard inquiry on my credit report. That could have easily been screened and once again the banker was just trying to make his sale and was all too eager to “get me started with their company” that he failed to act on any common sense and protect his “potential client” beforehand. This people are deceptive, manipulative, awful telemarketing, robots who are only out to tell you just enough to get what they want. When a representative followed up on my concerns the following day he defended his banker saying that “it wasn't necessary to ask about student loans before pulling my credit score.” Necessary? Apparently not. But for a company that promotes their excellent customer service, and A+ rating, necessary should not be the expected service received. Considerate and efficient is the basic service I expected. He also proceeded to tell me that “by simply asking permission to pull my credit should have made it obvious that it was a hard inquiry” (even though multiple times I told them I knew NOTHING about this process). I will absolutely recommend NEVER to work with these company. I simply want them to remove the inquiry from my credit report that they so hastily ran. Had I been given accurate inform and adequate customer service this whole situation could have been avoided. I would never have agreed to run my report if I had known it was a hard inquiry and could have easily disclosed my student loans in forbearance had they simply screened me beyond my social security number and income. Just because they believe something isn't "necessary" or that something is "obvious" does not give them the right to not disclose it prior to docking my credit score just so they can push me through the system to get what they want.

This inaccurate FHA appraisal is now stuck to my home for 4 months. Appraisal off by 500sf, nothing done hers is my situation.

I expected far better treatment and understanding of my situation than I received today from Jennifer Reed, who said she was top level management. I asked to speak with a supervisor after she was unable to answer my questions, but was told by her that she was the supervisor. She gave me zero input about how Quicken Loan's internal audit team reviews appraisals for quality control. Jennifer only told me that it was done and there was nothing more anyone could do. She told me TSI and the Quicken review team had made there decision and it was final. That is a vastly different description than what I read in the appraisal cover letter produced by Quicken Loans and sent to me on 4/28. This letter describes an extensive review process by an internal team for QC and even multiple appraisals may be done when warranted. I would have expected at the very least someone to come out to my house and produce a revaluation report to ensure our concerns were addressed and that our home was adequately appraised.

During our conversation I could tell she was shocked by me stating that the appraiser totally missed a bedroom above my attached garage. She started asking all kinds of questions about whether the garage was attached to my home, and how you entered into the bedroom. I repeated, I have an attached car garage and the room is directly above it, none of that square footage is included on the appraiser's floor plan sketch. This is why we asked for Quicken Loans to review it in the first place. She obviously had not looked at the appraisal. The lack of due diligence when it came to reviewing my concern was astounding. I was just getting canned responses and reiteration that there was nothing more that could be done. Is this really the best you could do?

I concluded the conversation with Jennifer stating again the appraisers measurements were not correct and again mentioned all the measurement errors on the second floor. Mentioned again the SF on my county tax records as being 2, 950 sf of above grade living. The actual township sketch was even included in the appraisal and its much different than his sketch, did a real person even look at this! After a supposed appraiser review from Mike Strnad with A Valuation Group who was at my house for 15 mins then off to appraise the last of "9" homes for the day, a 10min review from the audit team at TSI, and Quicken loans own "appraisal specialists" 15 min review, we still lost 500 sf off our house! Take another look at his botched sketch, and then take a look at the pictures of the outside of my house. I am uploading both Mike Strnad's " floor plan sketch" and "township assesors sketch." I have been told I needed to provide proof of error. The proof is in these sketches. The township assessor sketch shows upper sf as 1598, as well as the proper layout of square footage above my garage. The sketch clearly shows the mistakes Mike Strnad made. People make mistakes. But when they repeat the same mistake twice that's called incompetence. I believe you will see the incompetence clearly once you review my uploads. I hope for a better response than the one Jennifer gave me today. I actually thought Quickens review team would have caught this. I expect a revaluation appraisal to be ordered. Someone other than Mike Strnd to complete the revaluation as I do not trust the accuracy of his work.

Message

I applied for a refinancing loan with Phillip Baker / Quicken Loans and he promised a certain rate.I submitted all the necessary documents and he requested an updated statement showing that I had the money for the closing costs in my account.
I provided that in 2 business days and then he said I would need to pay an extra $2, 000.00 to keep the same rate. Even though the market rate had dropped on that day, they still wanted me to pay through the nose to maintain their initial rate which was higher than the daily market rates anyway. A COMPLETE WASTE OF TIME!
Don't waste your time talking to these clowns.They'll promise you the sky only to pull the rug from under your feet after you fulfill all their greedy demands.

I am a former employee of quicken loans. With the utmost sincerity, I can say that quicken loans is the worst employer out there. Right from the start, you are told to get rid of any inkling of hope regarding maintaining a general work/life balance because of your duty to “hustle” and “earn your way up to the top, ” all while writing dirty loans and working minimum 65-70 hour work weeks. The environment is 100% a boiler room environment, where employees suffer through a constant revolving door of people quitting left and right. It’s scary to me how much quicken resonates with me as a modern day sweat shop.

The unfortunate truth is that most employees at cannot afford to leave the perpetual hell-hole that is quicken. Many of the “mortgage bankers” are lucky to have associates degrees, let alone hold a b. A./b. S from a reputable university. Even so, the ones that do have better options are merely fresh out of college, early 20-somethings, who don’t realize that there are significantly better opportunities out there. Most of the staff has never had another full-time job in the corporate world.in fact, the most recent memory they can gather of their last paid job was working as a mere barback wiping up the sticky remnants of jagerbombs and fireball shots at their beloved college bar. These fresh, young faces think that it’s normal of their “directors” and “team captains” to expect them to work every weekend, consistently. They think it’s standard protocol to have to be hassling poor “potential clients” 3-5 times a day, berating them about refinancing their home with quicken. They think they’re being rewarded when they get provided with an “early out” every now and then at 7 pm. Heck, i’d rather brew espresso at a local starbucks for the rest of my life then step one foot in that office ever again.

As a mortgage banker, you are paid an incredibly low base salary, but you are promised uncapped earning potential due to the commission you earn writing loans. While I do commend quicken for allowing top performers to earn a fortune in short periods of time, it is not a system that is neither healthy nor sustainable. The retention rate at quicken is absolutely abysmal. Even for the top bankers, foreseeing a long-term future there is entirely unimaginable.

By the time you step into your office at 8 am, you are expected to dial through all of your leads and harass them into either a) proceeding to refinance with quicken, b) getting their supporting income/legal documents immediately to you so you can finalize the loan application process and get paid), or c) leaving a variety of crafty voicemails for these poor individuals, in the mere hopes that they will eventually return your 50+ phone calls throughout the course of one week.in addition to constantly having to bother these poor people (Often times elderly or lower-income americans, who made the initial mistake of submitting their contact information onto shady websites like lowermybills.com), you are encouraged to skip your lunch break.in fact, I can barely remember a time when I took a break longer than 20 minutes during my stint as a mortgage banker. Keep in mind you are working minimum 12 to 13-hour days to show that you are committed to becoming a successful banker at quicken. Those who scoot out early or request any inkling of time off throughout their employment at quicken are viewed as lazy and apathetic about their career. Not only do they look down on employees who want to maintain a modicum of mental sanity throughout their life at quicken, the company does not pay overtime.

During your sales training prior to hitting the floor, bankers are taught to always “dig deep” and get to the emotional backbone of potential clients. This way, you can get them hooked right from the start, and potentially use this personal information as collateral to convince them to go through with the sale with you in the end. Every time I utilized this sales tactic, I felt morally corrupt, to say the least. Directors and team captains would coach you to make people with less than perfect credit feel horrible about their financial situation. Essentially, you were taught to make them believe that due to their average-below average credit, they had no choice but to refinance with quicken because they had no options elsewhere. It was really demoralizing having to constantly practice this manipulative business tactic.

Unfortunately, I would have to say that my particular experience with quicken is far from an isolated incident. Since I left the company within the last year, I can name dozens of employees and colleagues who have parted ways, as well. With that said, my opinions are obviously solely my opinions. For the few who actually enjoy being employed by quicken, good for them. I’m truly happy they have found their place and foresee having longevity in a career there. On the other hand, I urge you to strongly consider accepting an offer here. While they may try to lure you into the position initially, take a real good look at the opportunity that lies ahead of you. Take a few more weeks to look for a job that actually interests you and pulls at your heart strings. Yes, no job is perfect and every position has its pros and cons. At the same time, invest a bit more time and effort into your job search and you could be doing yourself a huge favor in the long run. Do not make the mistake I made by taking the very first offer that was given to me. I am with a different company now and in a much better position both mentally and physically. I can happily say I get sufficient sleep and give my body time to relax and rejuvenate itself. I have plenty of time to exercise, meet with friends, and visit family in other cities. I can really breathe and live my life in a healthy manner now.

I am 100% disabled Veteran I requested a preapproval letter from Jane Guzman of Quicken Loans I gave the Preapproval letter to my real estate agent Glenda Hall from ReMax in Port Charlotte Florida. She found me a home within the limits of the pre approval Then Quicken loans said I didnot Qualify for it so they gave another approval letter for 239, 900 We found a home in that price range and did not qualify for that loan They said I qualifed for 236, 000 only so I found a home for 229, 900 with another preapproval letter. Then they tried to switch to a FHA loan With $8, 000 down. That is where we are now. They don"t know what they are doing. I kept getting the ok every time I called Jane.

When i contacted quicken loans about a refinance on my house they were given all the facts. Being self employed, i provided to them upfront all the details regarding the refinance including tax returns and pay income verifications along with detailed bank statements. They said it would be no problem what so ever, but after funding them upfront costs it then ran into numerous issues and they collected a "processing" fee, but unable to secure the loan. The induced me to make this payment then turned around after i was baited and they offered another program which was more costly and double the interest rate. Never do business with this company it is a rip off

Hard sales tactics. Abusive salesman (kyle), recorded my phone number without my permission then called me back several times despite my request that my phone number be deleted from their service. Kyle was rude the second time I asked for my number to be deleted, parting with the following "Jay let us know if you ever change your number so we can delete that one too".

My mortgage company was shut down by the govt and my loan transferred to Quicken. I must be a candidate for a new loan since for 3 years they kept calling and pushing me to refinance to a lower rate.
I agreed to talk with them and the loan officer offered what sounded like a great deal. He kept pushing me to sign "Now" even though my spouse wasn't available ( said she would be added later) and told me he didn't need bank statements and wouldn't need an appraisal for my residence, but I "need to sign now" to get a rate and cost lock. I finally agreed and got the good faith estimate.

Well, everything changed after that. The loan documents went to the underwriter and my spouse was never even listed as a borrower, the costs suddenly changed, the loan amount went up, and now he needs an appraisal after all for another $500 cost. Now I get a "redisclosure" with totally different costs and loan fees.

This is probably the biggest bait and switch tactic I've run into, and luckily I really don't need them as much as they need my money! Be very careful if you decide to deal with Quicken!