- Report: #1041958
Report - Rebuttal - Arbitrate
Complaint Review: Quicken Loans
Quicken Loans1 Campus Martius, Compuware Bldg., 1050 Woodward A Detroit, Michigan United States of America
Quicken Loans $500 loss. Predatory and discriminatory practices. Lying about Fannie Mae (FNMA) underwriting. Detroit, Michigan
*Author of original report: In Quicken's Own words...
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1. After receiving a written conditional approval, QL came back multiple times requesting information allegedly from "the underwriters". The principal go-between is a woman who is incapable of saying "yes" to any of my simple requests. If you ignore all the advice here from other posters, I urge you to at least avoid "Shana Levin".
2. I ended up having to provide the appraiser a property map and a house diagram from my previous appraisals. Do you think I got a break from cutting his time on this property by half? Hah.
3. After almost two months of me providing ever more documents, with nothing coming from QL on my requests; Ms. Levin called today to inform me (followed up with a lame standard "sorry" templated email) that my loan application was rejected. She alleged that QL underwriting was REQUIRED by Fannie Mae (FNMA) to have W-2's; even though I stated that W-2s were not the qualifying income I was using for 2012.
Ms. Levin included nothing in her email about the $500. She refused to write a separate letter about it. She refused to provide any information regarding how QL arrive at its underwriting decision, then supported the lie about FNMA.
So, I sent back a letter with the current underwriting guidelines on FNMA's own letterheads PROVING that W-2s are not required when the source of income is not related to employment (wages).
I am going to pursue this everywhere and anywhere I can.
It is not only the $500. It is the two hard inquiries against my credit score (dropping it 25 to 50 points for at least the next 90 days); the loss of $250 a month in savings between my old rate and the new rate; and the aggravation of stress.
I also allege discrimination under Title VII as I am an SSA disabled and Vietnam Veteran using as the source of my income (partly) SSI and VA receipts.
This report was posted on Ripoff Report on 04/09/2013 03:40 PM and is a permanent record located here: http://www.ripoffreport.com/r/Quicken-Loans/Detroit-Michigan-48226/Quicken-Loans-500-loss-Predatory-and-discriminatory-practices-Lying-about-Fannie-Mae--1041958. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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