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Quicken Loans

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Consumer complaints and reviews about Quicken Loans

User930028 Send email
 
Apr 11, 2012

Fraud and scam

This thread is quite dated but hoping those of you above may see an email when I post mine. Looks like they have dropped the deposit to $400 now but the same fraudulent procedures still apply and they still only work with TSI appraisal. There was never a mention to me that if the appraisal was low-balled (by 15%) that the loan would not go through. Of course after they had teh $400 this was all disclosed. I am fighting for the $400 back but I find myself being passed from one person to the next. I think they are hoping I will just go away. All of the above is so familiar sounding I got a good laugh. The banker does call your cell or in my case my parents HOUSE daily utnil they get you on the hook. Numbers constantly change along the way. When something sounds too good to be true it usually is!
User173835 Send email
 
Apr 11, 2012

Fraud and scam

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!
Judy Geneser Send email
 
Mar 6, 2012

Support of Rush Limbaugh

AS A WOMAN... the outcry of Mr Limbaugh makes me 'roll my eyes!' Where was the outcry on Mr. Bill Maher for calling a mother, grandmother and government official, Gov Sarah Palin, a CUNT? Where was the outcry for calling Laura Ingraham a SLUT? How selective is your outrage! Was it wrong... YES. At least Mr. Limbaugh had the decency to give Ms Fluke a sincere apology. Something Sarah Palin has yet to get from Mr. Maher's dispicable language. Mr. Limbaugh at least acknowledges he used WRONG WORDS to describe the 'absurdity' of what Ms Fluke's expects from a Jesuit college. She could have went to school somewhere else, if she couldn't afford her own 'birth control.' Once again, if you're going to 'appear' so outraged and out of sorts, at least be consistent. Otherwise, it only shows people like myself your very apparent hypocrisy. As far as advertising on his show, RUSH has very loyal listeners. WE see this for the political move that it is. While it is a shame that a handful of companies have decided to only do business w/ HALF of the country...it is their bottom line and their choice. I and many like me, will no longer do business with any companies that drop advertising on his program. We also, can make a statement.
Literarymy Send email
 
Mar 4, 2012

Support of Rush Limbaugh

As a real estate investor, I have often considered using Quicken Loans as a "go to" company for my financing needs. As a professional Hispanic woman, I was shocked to discover that they had regularly advertised on the Ruch Limbaugh show. Not only did they implicitly endorse his hate speech by sponsoring his "show" through advertising, but they even defended their role after Limbaugh's latest vulgar diatribe against a female law student. Perhaps they feel that women and minorities are not their "market" and thus they have something to gain by supporting bigots and fools. I will never use their service again. It is shameful that in 2012 in America I would feel compelled to write this note.
Literarymy Send email
 
Mar 4, 2012

Support of Rush Limbaugh

As a real estate investor, I have often considered using Quicken Loans as a "go to" company for my financing needs. As a professional Hispanic woman, I was shocked to discover that you had regularly advertised on the Ruch Limbaugh show. Not only did they implicitly endorse his hate speech by sponsoring his "show" through advertising, but they even defended their role after Limbaugh's latest vulgar diatribe against a female law student. Perhaps they feel that women and minorities are not their "market" and thus they have something to gain by supporting bigots and fools. I will never use their service again. It is shameful that in 2012 in America I would feel compelled to write this note.
Capitan Guy Send email
 
Mar 4, 2012

Support of Rush Limbaugh

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.
Kiet Thich Send email
 
Feb 23, 2012

Missleading

I was told never charge any fee if I did not approve or denied the loan. That was a liar. I paid up front $500 from my credit card to open the loan application. Every thing was communicated on the phone and Internet. They said I qualified and approved for refinance. I sent them my income tax return, work income statement, and all my bank financial information. My credit score are excellent, and my current mortgage payment had never been late. My home equity over 40% of the loan. They finally denied my loan and ripoff $500 on my credit card. I was very piss off. I want to file a law suit and going to report to police.
Chucky Send email
 
Feb 23, 2012

Missleading

was told i would not be charged any fees if i was not happy.yet they took out money for a appriasal and credit check, which i did not wantdo.

return my money
Lisa43 Send email
 
Feb 23, 2012

the real story of Quicken

Thanks for all that said about this company.. I am so Happy I never went so far to listen to them about a loan. I was interested in knowing why they seemed so proactive to get me in there for a loan.. I read why now..

Thanks for saving me the hard ache..
Jpetwsu Send email
 
Feb 23, 2012

the real story of Quicken

I have worked there for years and yes, I went through the hype, the low pay in the beginning and yes, the mental exhaustion. But a few years into my career I make a lot more than an average salary. I get a kick out of these college grads who get shocked to find out you have to bust your ass to be above average. This place has offered so much to me and my family these kind of reviews really bug me. At no time during the recruiting or hiring process are people led to believe they can make $100k without sacrifice and hard work, especially your first year or so.
Former QL Employee Send email
 
Feb 23, 2012

the real story of Quicken

I am a former employee of Quicken Loans/One Reverse Mortgage. I assure you that I am of the highest ethical character, and that when I was hired, I sincerely believed that I had landed a solid, reputable career with a distinguished company. Turns out, I was among 200 people in my hiring class who thought the same thing. You see, QL hires approximately 200 people each month. 90% are, like me, recent college graduates looking for our first post-college jobs. Throughout the initial orientation which lasts two months, we are fed a steady supply of popcorn, slushies, and other "hip" foods, persistently told that we are the brightest and best in the Metro Area (the headquarters is in downtown Detroit), and that we all will soon be making $100k annually as soon as we prove ourselves. After training, much of which is mandated by the recent passage of the federal SAFE Act and it's licensing requirements, we are put on the sales floor. At that point, all the things we learned in SAFE training becomes completely irrelevant... because we aren't mortgage loan originators, rather, we are telemarketers and our sole purpose is too remain constantly dialing the phone, speaking to anyone who put a phone number anywhere online, and convince them to take a deposit. NO BODY YOU SPEAK WITH AT QL IS A MORTGAGE EXPERT. They are all young, brand new kids who are being monitored incessantly by supervisors. They have a quota of sales calls that must be met daily. Their job is not to "work with" clients on finding a suitable mortgage product based on client needs, but to as quickly as possible sign clients up to the most lucrative deal possible. I lasted five months: Two months in training, two months as a cold-calling telemarketer for Reverse Mortgages, and one month as a full "mortgage banker". Then I quit. A huge majority of the 200 people I hired on with will not be there one year later. The pay is NOT $100k, the work is not intellectually challenging (we are, after all, college grads), and by no means should any of those sales reps be considered mortgage experts. They are not. I was not. I have a hunch that QL's business model requires hiring college kids who are bright enough to pass the licensing requirements, then put in automated sales roles designed to reach as many potential clients as possible (bulk matters). We are promised the moon and the stars and continuously told how great we are. We get very pumped up (almost cult-like). We dial the phones from 8am until 8pm, 6 days per week, DESPERATE to get clients enrolled in refi, purchase, or reverse mortgages. We get $9 per hour to do this. After 6 months to a year, everyone is broke, exhausted, and finally quit. But QL doesn't mind, they have hundreds more in the pipe going through the various stages of training ready to fill the void at any moment.
BillieBob Send email
 
Feb 23, 2012

refinancing mortgage

Hail to the FACT POLICE!
Rorare Send email
 
Feb 23, 2012

refinancing mortgage

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.

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