Quicken Loans
Reviews and Complaints

I understand that Quicken Loans has refused to withdraw its advertising from Rush Limbaugh after his despicable and hateful attack on Susan Flack, the woman who was denied a hearing before a congressional committee, to express he views on women's reproductive health. I just read that Quicken feels Limbaugh has a right to call this woman a "slut" and a "prostitute" on the air, and to tell her that she must make a sex video for his viewing pleasure. If Quicken Loans supports this type of vile, obscene discourse on the airwaves, it's definitely not the kind of company I want to deal with. I didn't know how else to express my opinion about this, so I'm submitting this complaint.

Like all of the other unfortunate people on this site, I too was taken advantage of by Quicken Loans. My story is a little different however. My appraisal came back with more than enough value for my loan. Part of the appraisal was to get one of my outbuildings treated for termites ($700.00). Before spending that additional money I verified with the Quicken Loan Specialist both by phone and in writing that everything was good with my loan and I was assured it was. I had the treatment done, and get this, the very next day I was told my loan was denied because the Quicken Underwriter did not agree with the Appraisers assessment of my home. The Appraiser by the way was not one I picked. Quicken worked with the VA and the VA assigned the appraiser; and they tend to be a lot stricter than most. So in the end, Quicken admitted I was misled however refused to refund any part of what I spent (Earnest Deposit or Treatment totaling over $1, 100.00). I went to another local lender and got my loan with no problems. If you are fortunate enough to be reading this message before you work with Quicken. Don’t just walk, run the other direction of Quicken Loans.

after reading the complaints about wells fargo and quickenloans I guess i'll just stick with wells fargo. I have been paying my mortgage with them for 3 years ona 15yr fixed. Quicken loans needs to rename themselves SlowPoke loans. Its been 3 months now. and a few days before the scheduled closing they tell me they need my wife to sign a document. The problem is, my wife is in Portugal awaiting US approval to immigrate. Problem 2 is I bought the house as a "single man." I was not married 3 years ago. The house is my "separate property." The situation is one i described to QuickenLoans during my first conversation with them 3 months ago. Apparently they were not listening. Now they insist that my wife sign some paper and it must be notarized at the US Embassy in Lisbon. It is my "separate property and if they read the law on the internet it should be clear. but its not. They have had 3 months to tell me this, but wait until a week before the closing. If I had known last week before I booked a flight to Porto I could have booked a flight to Lisbon. This process has caused me to deal with 3 different people at Quicken Loans. All 3 appear to be clueless idiots especially the very rude woman I had to deal with. I think its about time to say Fuggedaboutit. 3.25 % sounds better than the 5.95% I pay but I am planning on paying the house off in 7 years anyway and the mortgage interest is what keeps me filing an itemized tax return. It seems the "mortgage re-finance" industry is a big scam.

Just an FYI for those of who in AZ who feel they were misled by false advertising and/or the high-pressure sales tactics to collect the $500 upfront fee, and other misrepresentations. Make sure you report your incident to the following authorities:

1. Contact the State Banking Department in Arizona and file a complaint on-line:

http://www.azdfi.gov/Info/Forms/Complaint_form.pdf

2. Contact the State Attorney General's Consumer Fraud Division:

http://www.azag.gov/consumer/complaintformintro.html

I nearly became a victim of this company, and thought I'd share my experience with others. I recently became interested in refinancing my home mortgage. It's a relatively low amount (less than $50, 000), and after hearing an ad for their no-cost, streamline loan, I called to inquire as to the details. The loan officer was extremely pushy and refused to give me the specifics unless I provided all my personal info. After doing this, he still wasn't specific enough and insisted on getting my credit card # so he could charge me $500 for an appraisal. I'm an experienced home buyer and have also refinanced several times in the past. Needless to say, red flags went off immediately, so I pressed him to put the details in writing. He hedged on doing this, but kept calling me back anyway. When he finally did decide to put it in writing, he only called it "tentative" and did not give me the requested breakdown of closing costs. He knew I was no longer interested, but kept calling me back repeatedly. I never responded to these follow-up calls, but that didn't stop them from pursuing my business.

Some time passed, and then I got a call from a different loan officer stating that new terms were available as there had been a change in the market. When I inquired as to what that change might be, a new person put me through the same drill as the first one, demanding this time $400 down, and even implied that I must have some sort of financial problem not to want to do this. I told him I don't go around giving my hard-earned money to everyone who asks for it. He was extremely arrogant and condescending, not to mention rude. To make a long story short, there were no changes in the market to report to me. They only wanted to badger me further.

My thought was this company must be in real dire straits to push a customer on such a small loan. Bear in mind, they're located in Scottsdale, and one would think they have bigger fish to fry with all those multi-million dollar properties up there. They even tried to convince me that taking $500 up front is procedural with ALL mortgage lenders, which I happen to know for a fact is not the case at all.

Although they offer you a low interest rate, beware of the jacked-up costs and required down payment. Also, don't believe in Better Business Bureau ratings, they're totally worthless!

If you decide to apply for the Title Review Specialist position, think twice ! They interview dozens and dozens of people at a time and hire the same amount at a time. Then the next step if you get hired is your first day of "training". They sit you down in a room for half a day and try to cram months of learning on their programs/systems down your throat that really takes weeks and weeks to learn. Then the next day you get sent to your permanent location. After that the hands on learning begins. To sum this part up, there is 3 different programs you have to use to and literally hundreds of steps they expect you to learn in just a couple weeks. They set goals(how many files) they want you to be going through each day. Trust me they throw you into the pack of wolves thats been doing this stuff for years and they expect you as a rookie to the "team" and i say that term lightly because you are a temp until after 120 days of work or if they decide you fit in to their liking. Anyways, they set these unreachable goals for you to reach each day and expect you to catch on learning 3 different systems with about a couple hundred steps to do to finish just one file. If they dont like the pace you are at by a few weeks time, they FIRE YOU ! BY FAR THE WORST TREATMENT TOWARDS NEW EMPLOYEES THAT I HAVE EVER EXPERIENCED. The team leader is a total two faced liar and does not go out of her way to help the new people. She expects you to be performing on the same level as the rest of the crew thats being doing this stuff for years. QUICKEN LOANS, you call that a top rated company to work for in the country ? Forbes you need to do some more digging before you rate such companies that operate like this. If they don't think you fit in their clicks, or know all their hundreds of steps to learn in just a couple weeks, they fire you like they did me. Why would you be proud to have Team Leaders like this ?

I had a concern after reading the many complaints. I put down $250 on the credit card and the process began. Like many additional info was requested. I provided what every was needed. Which lead me to beleive I got hooked and would lose my $$. I am here to tell you after approximately 30 days I have closed. Some terms of the original paperwork that was sent had changed a bit. Everything was corrected by the Banker (Austin Rudick) in AZ. Another person in Detroit Tara Bingham was helpful in regards for keeping me up todate with the loan process. I was also able to track the process via there website. I know a lot of BS seems to be written but felt there should be some positive feedback left. I can only say if your financial situation isn't way out there then you too should be able to use Quicken Loans.

Don’t Use Quicken Loans! you can save money and time going else where. I call them about refinance my house and talked to an Executive Mortgage Banker with Quicken Loans. I had 3 things i wanted to do, Take my wife off the title, do a streamline FHA refi, and lower my monthly payment. My credit is great, i have a little cash to refi with, they assured me it would not be a problem, then he said i did not have an FHA loan. It became apparent that this guy had no clue of what he was doing. They made me jump though hoops trying to get this stupid loan. I have done other refinance in the past with my rental house and the purchase of this house and have never been screwed with so much. Never use Quicken loans, they suck.

I looked around on the web for a low cost refinance at the end of May. Quicken Loans came up as having the best rates. I called them and got a hold of John Van Tol (Tara Bigham was his assistant). He did not ask me for $500 until we determined I was a very good candidate for a refinance given my income, credit scores, estimated home value, etc. I then saw this complaints website and thought oh crud what have I gotten myself in for. Well, we had a few hiccups because the IRS transcript forms didn’t match my prior 3 years tax returns (see #5 below) but we got everything redone in time and closed on the last day before the rate lock expired. The numbers that were provided to me on my good faith estimate did not change and everything was exactly as they promised. I had several other companies that I spoke with and Quicken remained the lowest closing cost (their cost not the other fees). The only significant expense was the title company fees but these always seem to be high no matter who you use. I insisted on not escrowing my property taxes and hazard insurance and they found a loan that fit this requirement with a great low rate. I will say I’m the first to blast companies I think are scamming folks but that was not my experience with them – they did a great job.
I offer a few words of advise to others. First I think everyone needs to understand that mortgages are complicated business. This is a process where both parties have responsibilities in order for the loan to be completed on time and as expected. Keep in mind that with the blow up in mortgage banking in 2008, you will need to provide significantly more documentation than you did previously – so don’t be surprised. Before you apply for a mortgage or a refinance you should follow the steps below. If you do these you will eliminate 99% of the issues that could cause problems with obtaining a mortgage or refi from Quicken or any other provider for that matter.
1. Pull your credit report and make certain you know all 3 of your credit scores in advance. Be aware if you are not the only one on the loan that they will look at the credit score of any party to the loan – so your wife, husband, boyfriend, etc. better have good credit as well.
2. Talk to a real estate agent and check Zillow and other sites to make sure you have a realistic understanding of the current market value of your home. It is not worth what you think it is worth or what you paid for it or what you put into it in the way of improvements. It is worth what the market will bear. You cannot get emotional about this fact – house values have declined so be prepared for your property to appraise at a value lower than you expect. I gave a range I was expecting my to appraise at and it came in $1000 lower than the bottom of the range – not great but not far off either.
3. Discuss your credit scores, estimated home value, your current loan and any HELOCs if refinancing, size of the loan you are looking for, last 3 years of income, and your key debts with the loan officer to determine if you are a candidate for their program BEFORE asking them to invest a bunch of time and before paying the $500 down. Be up front, don’t hold back any critical information on your real life debt to income situation – you need to be prepared to discuss all financial obligations such as additional properties you may own, auto, credit cards, etc.
4. Ask that the appraisal be conducted as quickly as possible – the sooner this paperwork is in the faster it will go – you want to get this through underwriting before the rate lock expires. At the same time if Quicken’s appraiser is not using reasonable comps the appraisal seems significantly out of line then discuss this with Quicken and insist on using a different appraisal company.
5. You will need to provide the last 2-3 months of checking account statements as well as your last 3 paystubs and your employers info for proof of income.
6. Also, be prepared to provide 3 to 4 years of W2’s and any proof of income. You will be asked to fill out a form to provide the last 3 years of IRS tax transcripts. Go back to your last 3 years tax returns and make sure your name and address on Quickens forms matches your IRS tax return EXACTLY for each of the 3 years or it will be rejected by the IRS. This will ensure there are no delays in getting these documents to their underwriting department. If you have a Schedule A B, or C on your tax return you may be asked to provide these as well.
7. Ensure you have proof of insurance for the property – declaration page of your insurance property and proof of your insurance payments to show you are current.
8. If you have both a first and second mortgage and are refinancing – be prepared to provide the settlement statement on the original loan to prove the second loan is not a home equity loan. On the refinance you will need to prove there are no other liens against that property except the loan you are refinancing.
9. Make sure you discuss how you will be handling property taxes, insurance, and PMI if you are required to have PMI. If you don’t want taxes and insurance escrowed you need to make sure they know this up front and that they obtain approval to waive the escrow of these fees.
10. If Quicken provides a “conditional” approval understand that is exactly what it is – it is conditional upon your credit scores not changing significantly and you not racking up significant debt in the meantime. Be careful not to screw around with things that can mess up your credit during the loan approval process.
11. Quicken will provide a rate lock for x amount of days. It is your responsibility to ensure you get all of the necessary documents to them quickly in order to the loan approved through underwriting. Keep in mind that like any other lender make money on the difference between the fed rates and the rates being charged. They cannot hold a rate lock indefinitely.
12. Use their website to upload your documents directly. It’s fast, easy, and that way you know they have gotten the documents along with your explanation. Make sure you keep the email and phone # of your loan officer and the assistant that will work with you to get all the paperwork pushed through. Stay in touch with the assistant.

Well, we bit on it. Quicken Loans has a beautiful website and I suppose it's designed to elicit trust. And I read what other people said, that they ask you for fees and never give the money back, and want your credit card number. With all the scams in mortgage lending, I thought that maybe these mortgage companies learned their lesson and now they were restructured. We spent about 25 minutes discussing a new home loan, and the agent gave us this spiel that he was going to hook us up with their realtor, and bank, and we were going to get a house and they were going to do the mortgage. Then he asked us for our credit card number and he wanted $600 just to secure the loan, sort of a good faith thing. It's a scam. Then we got an email that said unfortunately they couldn't give us a loan, (we qualified with a major bank as well), and their Fresh Start Credit Repair company would help us out...of some more money I suppose. Anyway, that's what happens if you try to negotiate a loan with Quicken.

Despite what everyone else has written about Quicken Loans, I applied for a refinance anyway. I really wanted to believe they would help me. They claimed they would. I spent hours and hours getting every piece of documentation they could imagine. I got my mother to cosign the loan. She could buy the property outright has a lot of money. Then, just as many have reported before me, Quicken dropped the ball. They brought out an appraiser of their choice who claimed my property has dropped in value 20 percent. Funny -- I could not get a reduction in taxes because my county assessor says it has maintained its value. My advice? No matter what -- avoid Quicken Loans. They are running a scam operation, perhaps to get $500 from each applicant.

My partner and I applied for a refinance of our existing mortgage on May 3, 2011. During my initial contact with Quicken Loans, I explained that I have a unique property and that it might be difficult to find comparable sales on the appraisal. I was asked to deposit $500 on the assurance that the uniqueness of my property would not be a factor in deciding whether or not to give me the refinance. I was told by the senior mortgage banker that I "am the kind of customer Quicken Loans likes to lend to, " because of my credit scores and financials. Later, I learned that the appraisal was poorly executed and serious material errors were made that impacted the outcome of the stated value. Fortunately, I had an appraisal done on my home just one month prior (April 2011) in which the value of our home showed up $300, 000 more than in the one commissioned by Quicken Loans. When I complained to Quicken Loans about the poor appraisal, even sharing with them the April appraisal so that they could see and compare the vast difference in appraisal on the same property, they contacted the appraiser to speak directly with him about the appraisal. I understand that this is strictly forbidden -- lenders are not allowed to contact appraisers directly. I was not invited to participate in those conversations, even though I paid for the appraisal. Quicken Loans denied our application for a refinance because, as they said, our property was too unique. One of their loan officers forwarded to me notes from my file at Quicken Loans. In those notes, someone had indicated, "we cannot lend on the castle on the street." The comment is derogatory and clearly points to their attitudes about me, my partner and the unique house we live in. We were upfront with them about the nature of our property. Quicken Loans apparently recorded that conversation, because they took weeks to evaluate the initial intake conversation I had with the mortgage banker. They refused to re-investigate the appraisal, despite all evidence I provided that the appraisal was riddled with errors, and despite the fact that I was told the uniqueness of our property would not be a factor. They still have not returned our $500 deposit, even though we have been turned down for the loan.

My loan process began over 3 months ago. And who knows how many "we're all set" emails or phone calls from my rep and my "Could-Care-Less-About-My-Customer" specialist, otherwise known as a "Customer Care Specialist." What a joke.

In that time frame, I was literally barraged by request after request after request for more and more information---some 3 years old---and refiling paper work that either got lost or was prepared improperly by them (4 times I had to resubmit the same 4506 IRS Form because it was rejected by the IRS due to misinformation).

I spent $500 on a wasted home appraisal. I spent $50 on FedEX shipments for materials that needed to be sent to them as a matter or time-sensitive urgency.

I had to chase down the release of a lien on my former company from over 5 years ago.

I jumped through hoop after hoop after hoop after hoop with another "just one more thing" always waiting for me around the corner.

I gave Quicken Loans the benefit of the doubt for so long but finally had to seek out another option for a loan as it was becoming increasingly clear that Quicken never really had any intention of working with me on this loan. Instead, I was the one doing all the work.

But as a result of my seeking out another loan option, there were additional inquiries on my credit from the local bank I was talking to as a back up to Quicken. As a result, my score dipped just below 700. So because of incompetence on their end that resulted in my having to seek other options, I get a call telling me that my loan which was all but approved according to them, was denied to a drop in my credit rating during the 3 months I was dealing with all the ridiculous requests I was getting for more and more and more and more information.

By contrast, working with my local bank has been an absolute pleasure. I have secured approvals in 30 days at a better fixed rate and lower fees and closing costs. Done and done.

I hear the Quicken loan ads on the radio and I laugh out loud when I hear the tag line, "Engineered to Amaze." What a load of crap.

It's a very long story, unfortunately, but I'll try to sum up my many hours spent on this, quickly, but while still getting to the point. I hooked up with Quicken Loans to refinance my house because they had the best dea/rate to offer me. They requested a $400 deposit from me to go towards the final cost, and as my "good faith" commitment to them. I had no problem doing this since I have every intention of going through on this refinance loan with them. I was assured that should anything change with the loan from the way it was originally presented to me and what I originally signed that I would be rufunded this money because it would not be the original agreed amount for the loan. Well, here we are almost three months later, not one, but two chances to get it right on there end, and more phone calls that I can keep track of, and now that I'm not willing to give them a third chance to get this right and get their "miscommunications" straight, and after they have told me twice that they would give me a refund, they won't give it to me. The amount for closing started at $700-$800, and after several adjustments went as high as $3800, but that was just someone giving me incorrect information. The last number I was given was about $1800, but they couldn't make that happen either. Terms of the closing changing, I would say just a little, but no sorry, you can't have your refund even though you were told that. These people are UNBELIEVEABLE! I have bought and sold six homes, and refinanced twice, I am not new to this and I have NEVER been through anything even remotely close to this with any other dealings that I have had with other companies. I cannot strongly suggest enough to stay away from this company (for lack of a better term). Unfortunately I will be involved with them until I get my refund back, and not one day past that! I don't understand how companies like this are allowed to stay in business. They are unethical, uncaring, and running their scam on the few dollars that the American people have left. Shame on me for trusting them!

Quicken Loans responded to our internet request for quotes from lenders regarding the refinancing of our mortgage. After some discussion, we decided to proceed and give them our detailed financial information so they could put together the numbers for us. At one point we made the decision to refinance with Quicken. The loan rep Delante McGrew emailed us the loan application and asked us to e-sign the documents. We still have dial up internet service so it took quite awhile to download the documents. Time was running short as I had to pick our daughter from school. My bad, but I went ahead and esigned the application and said that I would read through it later that evening. Once I got to the Good Faith Estimate, I immediately realized that the figures on this form were different from the ones Delante quoted me earlier in the process that I wrote down in a notebook. The Loan Discount Fee was incorrect, there was an Additional Endorsement added in with no description as to what it was for. There was an $80.00 fee for TSI Appraisal Services as well as a $350.00 appraisal fee. My intuition told me this was'nt the company I thought it was going to be. I called our credit card company and found out that Quicken had already charged our credit card $500 for a Good Faith Commitment. Delante told me this wouldn't be done until the appraisal had been completed. I told him then that we would not be doing business with them because of the change in the good faith numbers. When I pointed out that the Loan Discount Fee was higher than what it should be, he couldn't understand why I would quibble over $300. He had no clue as to what the $80.00 fee to TSI Appraisal Services was for or what the Additional Endorsement was. I tried to work with Ann O'Neil from the same office to get our money back. In my final conversation with her I also told her that I had recently discovered that Delante lied about the length of my husbands employment on the application. Ann told me that the length of a persons employment has no bearing whatsoever on the loan. Why do lenders ask for this information then? They refuse to refund our $500 but I'll never rest until it's finished!

Total rip-off artists! - I can picture a phone room crammed full of desks, with minimum-wage employees, all with "special" Titles such as
"Loan Advisor", "Loan Consultant", etc etc ... and ... a total lack of communication between them.

The biggest fraud they engage in is all the "Special" & "added" costs you must provide BEFORE your loan is even considered ... just a few - $400. "good-faith" fee, then a "Loan Initiation fee", then they charge you for a Homeowner's Insurance Policy, while demanding that YOU also provide a separate Homeowners Policy, a Home Inspection fee (Before you even know IF your loan is approved!) - An appraisal fee, and ALL These "fees" to be paid UP-FRONT - BEFORE you even know if your loan is to be approved!

All this, while you provide Bank Statements, proof of income, Credit Reports, , , , at LEAST two or three times, because these "clerks" can't seem to have the ability to walk your paperwork through from one desk to another. Just when you think you have everything set-up,
you get transferred to yet Another "Loan Consultant" who starts you all over again asking for proof that you paid all the "Up-Front" fees, so this is another trip to the copy machine to send this dolt all the paperwork again!

I wonder how much Quicken Loans pays J.D. Power & associates to hawk them as the "Number One" in home loans?

STAY AWAY FROM QUICKEN LOANS, unless you have $1200 or $1500 to throw away on "fees".

Avoid this company! Dont waste your money. They refuse to refund even when the appraisal is clearly faulty. They hire incompetent appraisers who are unfamiliar with your housing market. Suspect the 'lender financed PMI' is a big source of income from them. Thus their motivation to get a low appraisal.
Assessor was so incompetent she appeared to be assessing the wrong house. Had features incorrect (i. e. Said we had a fiberglass shower insert in the master bath when we have a full tile walk in shower). They allowed comps that were clearly not comparable homes (compared a house 21 years old to our 8 year old home, yet ignored actual comps in our neighborhood) Randomly assigned a per square foot price significantly lower than the comps despite noting that our house had a 'like new feel' and was of a high quality. Quicken refused to have it reassessed despite the outrageous appraisal.

Looking into refinance of a home and call them. Was told after giving information I was approve. I said how come so fast and was told credit report they looking at. Told they needed credit card but would not charge if I did not like the loan or something came up that they could not give loan. They gave me a good faith report and it look good. Got a letter of how much I was taking out on loan and shock to see to much. Contract them and they gave me the run around and finally I need to see why they posted it on their website. It was a need Good faith statement with $2200 more on fees for discount fee. I said never was told that I have way over 20% down on what home is worth and never anywhere you said it be more. I said not taking loan and they told me well then we posted another statement for you to look at. I went up on website and it was a interest and deposit statement and that they taking my $500 on credit card. I check credit card and sure enough they charge this on March 17, 2009. I got this interest and deposit statement which I printed that is dated for March 28, 2009. Call them and they said sorry it happens but he put me on hold and came back and said if I sign the loan they give the $2200 back in cash since loan papers are made out. I said want that in writing and they could not do that so I told them no way it would be he said and she said. Made a complaint with BBB and it showed 627 resolve with a b+ rating. BBB said they sent a report to them but when I went back to check the complaint on BBB it shows now 700 and all resolved. Makes me wonder about BBB..After typing in quicken loans complaint on internet many lately is getting the same thing they keep the $500 then change everything...

Please believe what you read on this site about quicken loans! They are liars, crooks, and thieves! I called them up to refinance my home and seth gray (If that's really his name) was very professional, assured me that I have no reason to worry... Good credit, military service, excellent payment history. He just needed $500 to prove that I was serious & pay for the appraisal. Warning flag went up, but I wanted the rate reduction so I paid it. Three weeks later, seth called me and said that I didn't get approved because the house wouldn't appraise for the cost of the loan. Huh? What appraiser couldn't value this home correctly? It's in the medical center area, surrounded by other doctor's homes and was worth much more than the refi loan. Seth seemed so distraught that the loan didn't close. He promised he'd call me and follow up requesting a new appraisal. Have never heard from him again. That was almost a year ago. It doesn't matter what they tell you, once they get your money... Suddenly there's a problem with your appraisal.