• Report: #435545

Complaint Review: Quicken Loans

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  • Submitted: Wed, March 18, 2009
  • Updated: Mon, September 20, 2010

  • Reported By:garden grove California
Quicken Loans
20555 Victor Parkway Livona, Michigan U.S.A.

Quicken Loans Don't Waste Your Time and Don't Give Them Any Advance Fees Livona Michigan

*Consumer Comment: Please Report This To...

*UPDATE EX-employee responds: Real World

*UPDATE EX-employee responds: Real World....How is it that you know?

*Consumer Suggestion: IM NOT TELLING THE TRUTH?????????????????

*UPDATE Employee: TC

*Consumer Comment: Real World

*Consumer Suggestion: this just in....are you listening REAL WORLD?

*Consumer Suggestion: ha ha real world!

*UPDATE Employee: ATH

*Consumer Suggestion: THANK YOU JIM

*UPDATE EX-employee responds: Auth....Here is the truth

*Consumer Suggestion: my bad.......

*Consumer Comment: real world???????

*Consumer Comment: real world???????

*Consumer Comment: real world???????

*Consumer Comment: real world???????

*UPDATE EX-employee responds: Bad Apples

*UPDATE EX-employee responds: Bad Apples

*UPDATE EX-employee responds: Bad Apples

*UPDATE EX-employee responds: Bad Apples

*UPDATE Employee: Jim

*UPDATE EX-employee responds: Real World...it's not your fault

*UPDATE Employee: Jim and Steve

*UPDATE EX-employee responds: Real World

*UPDATE EX-employee responds: Realworld...again....you do not understand the mortgage industry

*UPDATE Employee: Jim GFE

*Consumer Comment: IN THE REAL WORLD - REQUIRING FEES UPFRONT IS ILLEGAL

*UPDATE EX-employee responds: Real world....have you ever heard of a GFE?

*UPDATE Employee: Jim

*UPDATE Employee: Jim

*UPDATE Employee: Jim

*UPDATE Employee: Jim

*UPDATE EX-employee responds: Real World - This is your first mortgage jobs, isn't it?

*UPDATE EX-employee responds: Real World - This is your first mortgage jobs, isn't it?

*UPDATE EX-employee responds: Real World - This is your first mortgage jobs, isn't it?

*UPDATE Employee: Evil Eliminator and MR Broke

*Consumer Comment: Mr. Nice you are so full of CA CA we can smell you a mile away

*UPDATE EX-employee responds: Really? Quicken doesn't make money off deposits??

*UPDATE Employee: nice

*UPDATE EX-employee responds: I find this funny

*UPDATE EX-employee responds: Very True

*UPDATE EX-employee responds: Very True

*UPDATE EX-employee responds: Very True

*UPDATE Employee: NOT TRUE

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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.

Shari74
garden grove, California
U.S.A.

This report was posted on Ripoff Report on 03/18/2009 10:43 PM and is a permanent record located here: http://www.ripoffreport.com/r/Quicken-Loans/Livona-Michigan/Quicken-Loans-Dont-Waste-Your-Time-and-Dont-Give-Them-Any-Advance-Fees-Livona-Michigan-435545. 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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#1 Consumer Comment

Please Report This To...

AUTHOR: Bman - (United States of America)

This government agency:



http://www.ftc.gov/reports/index.htm



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#2 UPDATE EX-employee responds

Real World

AUTHOR: Yeswecan - (U.S.A.)

You and all employees/ex-employees of Quicken know just how much they push aps, aps, aps. Do you get paid on just aps, no, but putting numbers on the board keep managers off your back.

I'm sure there are some employees that are so desperate for a deal that they will take any they can get just to put that number on the board. I'm sure you don't do that, but some probably do. It was that way back when I worked there (when the company was actually still owned by Quicken) and I'm sure it is now. Don't blame the employees, blame the management.

And real world, don't start pointing fingers at me and yelling "bitter, disgruntled!" I worked there for over 3 years was well-liked, made 6 figures while there and left on very good terms. Quitting was a very difficult decision but I was just too burned out. I'm stating facts and that is all.
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#3 UPDATE EX-employee responds

Real World....How is it that you know?

AUTHOR: Jim - (U.S.A.)

How is it that you know that in all of the complaints on here only half of the truth is being told? Are fmailiar with these situations? Do you soemhow know whe these people are that are posting? You don't.

Let's stick to reality; some of these complaints are one sided, but most are very well founded. As you've already stated, you come on here to 'defend' your company. But gues what? You're hurting them even more with the attitude that you take towards people that have legitimate complaints. Why not try helping? Why not try giving them comtact information to somebody that can do something for them? The anser is simple: you are simply a selfish person. If you were really interested in helping, you would do as I stated above, or at least explain things more thuroughly to the people that are on here that appear to simply be confused.

Please, give your real name out se we all know whom to stay away from at Quicken Loans....
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#4 Consumer Suggestion

IM NOT TELLING THE TRUTH?????????????????

AUTHOR: Ath - (U.S.A.)

REAL WORLD ARE YOU SAYING I LIED OR DIDNT TELL THE WHOLE STORY??????
ARE YOU SAYING THAT ALL 3000 EMPLOYEES THEIR ARE HONOST OR EXPERIENCED?????
like i said i will post every person i dealt with.....
if your job is to monitor the negative comments about your company, you are way undermaned. maybe you should spend your time trying to close a loan so we wouldnt have to complain. everything on my end checked out according to your company. you guys are the ones conveniently losing things and buying time by having me resend.
what happened to we can close this in a week???? our 1st call was on 5/8/09. and you guys still need another couple weeks.

is this dan????? why are you so worried about protecting your incompetent company if you are just an employee?????


ive got mucho time my friend......and i am very disgruntled at this point.
give me your name and i will ask my representitive to clear up some discrepencies in your end of my story..........since you are so involved in my loan process.
it seems you are the only employee here sticking up for your company.....
good luck.....
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#5 UPDATE Employee

TC

AUTHOR: Real World - (U.S.A.)

TC I make comments on here because of all the BS that is said about the company I work for is not 100% told. Now, I will sit back and see the SA comments from ATH and the others.
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#6 Consumer Comment

Real World

AUTHOR: T_c - (U.S.A.)

Wow, I was actually considering using Quicken Loans. I would never use a company with such an unprofessional employee. There is absolutely no reason for the employee of a reputable company to go to a message board and ridicule and deride someone sharing their personal experience with said company. None, whatsoever. If that is any indication of the professionalism of Quicken Loans, I wouldn't use them, would never recommend them to anyone and the only proof I'd need of their incompetence is this thread and Real World's comments on it.

Unbelievable.....
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#7 Consumer Suggestion

this just in....are you listening REAL WORLD?

AUTHOR: Ath - (U.S.A.)

as of 3 hrs ago we were informed that we were approved, by the higher up that we are dealing with. then we get an email from one of the 1st people we were dealing with at Quicken saying that WHAT we have sent already was not there. WHAT???
OK we send it over again for her to say she still didnt get it. WE WERE TOLD 3HRS PRIOR THAT IT WAS OK'D AND WE COULD GET SOMEONE HERE AS EARLY AS NEXT WEEK, WHICH WOULD ESSENTIALLY KEEP US FROM CLOSING FOR ANOTHER 3 WEEKS.
WHICH IS IT??????????? ARE WE APPROVED OR NOT?????????????
HOW COME ONE PERSON SAYS YES AND ANOTHER SAYS THEY NEED INFO THAT WAS SENT ALL THE WAY BACK AT THE START OF THE GAME.
NAMES WILL BE ON HERE VERY SOON............
HERES THE KICKER, THE LADY WHO CALLED, COMPLAINED TO THE SUPERVISORS SUPERVISOR THAT HE WASNT DOING HIS JOB........

WOW!!!!!!!!!!!!!!!!!!!!!!!!!
I WILL NOT LET THIS BE, I CANT. IT WOULD BE A DISADVANTAGE TO OTHERS NOT AS LUCKY AND INFORMED AS I IF I DIDNT TELL THIS STORY....
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#8 Consumer Suggestion

ha ha real world!

AUTHOR: Ath - (U.S.A.)

i am sorry that i am such a detailed oriented person. i learned that while working my whole life. it didnt take anytime at all to write my novel, Quicken Quagmire. your company provided me with enough info that it made the research easy. you think i will be on the New York Best Seller list or Oprahs book of the month? i really think that it could. people love a good Mafia Loanshark novel. gilbert will play with himself, i mean play himself.
dont even start a a verbal or business challenge with me. i will make you look very silly.
by the way i dont have to work anymore.
i spent my whole week looking over lake erie on my boat, as that is where my property lies. you have been working the last 6 days and are to tired to fart on your day off.
by the way if you would like to know who i am? your moronic company is still wasting my time and costing me money. ask dan how he feels about losing any money. TELL HIM TO GIVE ME A RING AND CLOSE THIS DEAL PERSONALY IF HE CANT HIRE ENOUGH QULIFIED PEOPLE. I got an idea, tell him to let go of LEBRON so he can stop being so cheap with his employees and hire competent ones.
ITS THAT EASY.
GIVE ALL MY MONEY BACK AND I WILL GET THE MONEY ELSEWHERE.
DONT YOU THINK I CAN?
you guys are taking a long time and it is obvious we were ok'd already but you guys want to wait and collect more interest until the end of the month when payouts and debts are due.
i am not in your industry at all i am a very conciencious consumer. the only reason i went with you guys is because the idiot on your end said, NO PROBLEM YOUR CREDIT AND INCOME TO DEBT IS A NO BRAINER, WE COULD CLOSE YOU IN A WEEK. ME BAD I BELIEVED INEXPERIENCED TELEMARKETER ON YOUR END. EVEYTHING WAS DICLOSED FROM THE 1ST CONVERSATION AND ITS NOT LIKE THERE WAS ANY REAL WORK WITH YOU. MY WIFE FOUND SEVERAL COMPS THAT WERE CLOSER, AND DID MOST OF THE WORK. YOU GUYS DONT EVEN HAVE THE DECENCY TO CALL BACK WHEN YOU SAY. AND EVERY CONVERSATION ENDS WITH WE SHOULD BE ABLE TO CLOSE THIS SOON. HA
THE LAST CONVERSATION I WAS TOLD IT MIGHT TAKE A COUPLE WEEKS.
you dont have enough people to deal with your volume so let us people with SUPERIOR CREDIT SCORES GO SOME WHERE ELSE SO WE CAN BE IN THE FRONT OF THE LINE.

my new novel should be a good one if you respond back, SPARKY.
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#9 UPDATE Employee

ATH

AUTHOR: Real World - (U.S.A.)

Wow can you write a story. If you spent as much time looking for work as you do writing a book on this site, you would start making money again, however I am sure you would start writing a book on that company also.
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#10 Consumer Suggestion

THANK YOU JIM

AUTHOR: Ath - (U.S.A.)

my wife and i are way ahead of the people we are dealing with at Quicken.

your advice and input is much needed and much appreciated. Social Security says they will not offer that guarantee for anyone but they say at least when it is SS you are pretty much guaranteed for a year which says way more than the majority of jobs out there.

i will keep checking back here for your advice

thanks again Jim......
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#11 UPDATE EX-employee responds

Auth....Here is the truth

AUTHOR: Jim - (U.S.A.)

Auth,

Whomever you're working with at Quickens is either ignorant, or lying to you. If you do a web search for 'fannie mae employment guidelines DU', you can get to efannimae which is their website. If you look at the 1005 form (verification of employment), you will see that there is only one small box on the form that is labeled 'Probability if Continued Employment', referring to how likely it is that they'll have a job in the near future. There is no way that any employer would ever sign a document guaranteeing that an employee would have a job for the next 3 years. Will never happen. You're dealing with ignorant liars. Try asking the loan representative what a form 1005 is and see if they have any clue at all. You could probably ask their manager, and the manager would have no clue. Quicken does not teach about mortgages beyond the basics, they teach sales. That's it.

Now regarding your Social Security/Disability (SSD) verification. Every lender that I've run into will require some sort of proof that your SSD payment will continue for at least three year. The reason is because SSD is potentially a temporary payment. Some disabilities just aren't permanent. However, what usually works regarding verification is a letter from a physician stating that your disability will last for at least the next three years.

This 3 year rule is not just for disability, it applies for pretty much any non-employment income. Take child support for instance. If a borrower would like to use child support income on their loan application, they can. But they are required to show the child support order (which will show at what age of the child the support will end), and they are also required to show birth certificates for the children they are getting the support for. This is because they need to be receiving it for at least the next three years in order to count it as income on the application.

Bottom line is that Quicken is not the company you should be working. Demand a refund of your deposit (they'll likely only give you back the deposit minus cost of credit report and appraisal) and go on to somebody who is knowledgeable.

P.S. You really should ask the loan rep about what a 1005 and even their manager. Let us know the results.
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#12 Consumer Suggestion

my bad.......

AUTHOR: Ath - (U.S.A.)

i just found out that as of February Fannie and Freddie made some new laws that Obama signed. apparently from now on anyone getting loans has to show proof that they will continue to have employment for at least 3 yrs. that is to bad as it really narrows the loans down to people that own their own business and already have money (theyre the ones that need it the most right?). this in turn makes Quicken look worse for taking any good faith tribute (i call it Tribute as that is what the Mafia would call it). how many loans does Quicken actually make as opposed to what they turn down? and are these loans that are granted givin to people with serious bucks? like big time developers that will probably buy up all of the forclosed properties in Michigan and Ohio?
well my saga still goes on because i refuse to let this go.
my wifes last conversation an hour ago went like this. my wife tells Quicken that we were going to make a complaint with the Americans with Disabilities Act, ADA. TO WHICH SHE WAS TOLD FINE THAN YOU JUST WONT GET THE LOAN.
HEY!!!! SOCIAL SECURITY GAVE US THIS ADVICE. DUH!!!!!
well now, HOW PROFESSIONAL, no matter how disgruntled or wrong (and my case right) should the customer be treated in such a way. it leads to word of mouth. man wait till they see mine and my wifes credit scores and income to debt ratio. regardless of what home values are we should not be having this problem. i will not put complete blame of my situation on Quicken as it is a unique one, but they were told over and over again, and they said NO PROBLEM, YOUR CREDIT IS IMPECABLE. but they are not very honost in there business practices.

im sure at one point there will be a class action lawsuit and I will gladly offer what I can.


YOUR PAIN IN THE ANUS FORVER
ATH
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#13 Consumer Comment

real world???????

AUTHOR: Ath - (U.S.A.)

your responses baffle me, im really digging thru your posts.......
i was guaranteed 30 grand in refi, my income to debt ratio is very low and my credit score is in the 740 area, and my wife is over 800. our only debt is our house, and we have knocked 30yr mortgage into 12 because of extra payments. we told them if we cant pull 30g we were not doing it at all, it would not be worth it, we are locked in to a low 30 yr at maybe a percent higher, so the 6grand closing cost would not be worth our time, or to our advantage.
we have special circumstances in that there isnt a comparable in our city. they said not an issue, if the comp is a problem they would get a realtor to say what they would sell it for. they did none of this. an appraiser came by and did his 5min $275 walk around my property and took pictures of the inside.
my house was appraised in the 280's 2 yrs ago and the 1 comp that they found 1was 160g. WHAT?????? the house they use as a comparable is a 3 bedroom 1 and a half bath. my house has 5 bedrooms a soundproofed music recording room/office, 3 full baths, master suite has the jacuzzi tub, a familiy room with an 8 person hot tub that is permanent as the house was built around it. we also have about 8 acres of beach deeded in our land that we pay taxes on. the appraiser didnt even want to see it and it was not added. that is 20 grand right there.
long story short these BOZOS at QUICKEN LOANS want a good faith $500 deposit which they sell hard. they did not come thru at all,and actually lied in conversations, to which they only record the ones that are to their advantage.
we said in every conversation that if they could not pull 30 grand we were not doing it. they offered 10 grand?
also we were told by the rep about a realtor if the comp was a problem, well his superviser says they dont use realtors.
what they do is take the lowest bid on a house and try to play the owner who is on rough times. well im not on rough times and my wife and i thought since our credit and income were good that we would do some work on the house and buy a few luxeries now when we can afford it, as the older we get the less money we will have.
Quickens knows that a huge portion of loans wont go thru, so they ask for 500 bucks. if you close they give it back, but why would i close on a deal i NEVER MADE.
we are still in the middle of doing business as weve been able to take this to higher ground, and they have agreed to refund more than half the money if we didnt go thru with the loan, to which they say should never have been an issue because we should have been said and done. this has still not been without its trial and tribulation. we changed things along with quicken to a fha thinking that would speed things up. this just gave them more time to screw up. 2more house payments have been made since then, which is more to our advantage, even though they are to confused to figure this out.
now heres the clincher folks my wife and i are both on social security and we were told within the last couple of hours that according to underwriters they wanted a document from social security stating that they would guarantee paying us for the next 3yrs. we told them there was NO such thing, they say yes there is. we call ss to verify, and they tell us that would be discriminting to the disabled and gave us the info on what to do if we had problems with this, like the naacp and united civil liberties union. we were able to get the president of recovery banker at quicken, and he now has to get in touch with all of those other qualified employees at quicken and the underwriters to school them on how to handle this.

I WONDER IF QUICKEN WILL GIVE THEIR EMPLOYEES A GUARANTEE THAT THEY WILL HAVE A JOB FOR THE NEXT 3YRS.
LOL, I MEAN WHO DOES ANYONE KNOW THAT CAN GET THAT KIND OF GUARANTEE.

hey realworld, do you really not think that they dont take that money and put it into other investments? you guys make money off of the GOOD FAITH DEPOSIT. EVEN IF YOU CLOSE AND GIVE IT BACK YOU GUYS MAKE INTEREST. DUH.......
HOW MANY OF YOU PEOPLE WORKING THERE CANT CLOSE A LOAN BECAUSE OF INEXPERIENCE? WHO MAKES THE MONEY WHEN IT HAS TO GO UP THE CHAIN?
QUICKEN HIGHER UPS THRIVE ON THE INABILITY OF THE STAFFMEMBERS EXP.
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#14 Consumer Comment

real world???????

AUTHOR: Ath - (U.S.A.)

your responses baffle me, im really digging thru your posts.......
i was guaranteed 30 grand in refi, my income to debt ratio is very low and my credit score is in the 740 area, and my wife is over 800. our only debt is our house, and we have knocked 30yr mortgage into 12 because of extra payments. we told them if we cant pull 30g we were not doing it at all, it would not be worth it, we are locked in to a low 30 yr at maybe a percent higher, so the 6grand closing cost would not be worth our time, or to our advantage.
we have special circumstances in that there isnt a comparable in our city. they said not an issue, if the comp is a problem they would get a realtor to say what they would sell it for. they did none of this. an appraiser came by and did his 5min $275 walk around my property and took pictures of the inside.
my house was appraised in the 280's 2 yrs ago and the 1 comp that they found 1was 160g. WHAT?????? the house they use as a comparable is a 3 bedroom 1 and a half bath. my house has 5 bedrooms a soundproofed music recording room/office, 3 full baths, master suite has the jacuzzi tub, a familiy room with an 8 person hot tub that is permanent as the house was built around it. we also have about 8 acres of beach deeded in our land that we pay taxes on. the appraiser didnt even want to see it and it was not added. that is 20 grand right there.
long story short these BOZOS at QUICKEN LOANS want a good faith $500 deposit which they sell hard. they did not come thru at all,and actually lied in conversations, to which they only record the ones that are to their advantage.
we said in every conversation that if they could not pull 30 grand we were not doing it. they offered 10 grand?
also we were told by the rep about a realtor if the comp was a problem, well his superviser says they dont use realtors.
what they do is take the lowest bid on a house and try to play the owner who is on rough times. well im not on rough times and my wife and i thought since our credit and income were good that we would do some work on the house and buy a few luxeries now when we can afford it, as the older we get the less money we will have.
Quickens knows that a huge portion of loans wont go thru, so they ask for 500 bucks. if you close they give it back, but why would i close on a deal i NEVER MADE.
we are still in the middle of doing business as weve been able to take this to higher ground, and they have agreed to refund more than half the money if we didnt go thru with the loan, to which they say should never have been an issue because we should have been said and done. this has still not been without its trial and tribulation. we changed things along with quicken to a fha thinking that would speed things up. this just gave them more time to screw up. 2more house payments have been made since then, which is more to our advantage, even though they are to confused to figure this out.
now heres the clincher folks my wife and i are both on social security and we were told within the last couple of hours that according to underwriters they wanted a document from social security stating that they would guarantee paying us for the next 3yrs. we told them there was NO such thing, they say yes there is. we call ss to verify, and they tell us that would be discriminting to the disabled and gave us the info on what to do if we had problems with this, like the naacp and united civil liberties union. we were able to get the president of recovery banker at quicken, and he now has to get in touch with all of those other qualified employees at quicken and the underwriters to school them on how to handle this.

I WONDER IF QUICKEN WILL GIVE THEIR EMPLOYEES A GUARANTEE THAT THEY WILL HAVE A JOB FOR THE NEXT 3YRS.
LOL, I MEAN WHO DOES ANYONE KNOW THAT CAN GET THAT KIND OF GUARANTEE.

hey realworld, do you really not think that they dont take that money and put it into other investments? you guys make money off of the GOOD FAITH DEPOSIT. EVEN IF YOU CLOSE AND GIVE IT BACK YOU GUYS MAKE INTEREST. DUH.......
HOW MANY OF YOU PEOPLE WORKING THERE CANT CLOSE A LOAN BECAUSE OF INEXPERIENCE? WHO MAKES THE MONEY WHEN IT HAS TO GO UP THE CHAIN?
QUICKEN HIGHER UPS THRIVE ON THE INABILITY OF THE STAFFMEMBERS EXP.
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#15 Consumer Comment

real world???????

AUTHOR: Ath - (U.S.A.)

your responses baffle me, im really digging thru your posts.......
i was guaranteed 30 grand in refi, my income to debt ratio is very low and my credit score is in the 740 area, and my wife is over 800. our only debt is our house, and we have knocked 30yr mortgage into 12 because of extra payments. we told them if we cant pull 30g we were not doing it at all, it would not be worth it, we are locked in to a low 30 yr at maybe a percent higher, so the 6grand closing cost would not be worth our time, or to our advantage.
we have special circumstances in that there isnt a comparable in our city. they said not an issue, if the comp is a problem they would get a realtor to say what they would sell it for. they did none of this. an appraiser came by and did his 5min $275 walk around my property and took pictures of the inside.
my house was appraised in the 280's 2 yrs ago and the 1 comp that they found 1was 160g. WHAT?????? the house they use as a comparable is a 3 bedroom 1 and a half bath. my house has 5 bedrooms a soundproofed music recording room/office, 3 full baths, master suite has the jacuzzi tub, a familiy room with an 8 person hot tub that is permanent as the house was built around it. we also have about 8 acres of beach deeded in our land that we pay taxes on. the appraiser didnt even want to see it and it was not added. that is 20 grand right there.
long story short these BOZOS at QUICKEN LOANS want a good faith $500 deposit which they sell hard. they did not come thru at all,and actually lied in conversations, to which they only record the ones that are to their advantage.
we said in every conversation that if they could not pull 30 grand we were not doing it. they offered 10 grand?
also we were told by the rep about a realtor if the comp was a problem, well his superviser says they dont use realtors.
what they do is take the lowest bid on a house and try to play the owner who is on rough times. well im not on rough times and my wife and i thought since our credit and income were good that we would do some work on the house and buy a few luxeries now when we can afford it, as the older we get the less money we will have.
Quickens knows that a huge portion of loans wont go thru, so they ask for 500 bucks. if you close they give it back, but why would i close on a deal i NEVER MADE.
we are still in the middle of doing business as weve been able to take this to higher ground, and they have agreed to refund more than half the money if we didnt go thru with the loan, to which they say should never have been an issue because we should have been said and done. this has still not been without its trial and tribulation. we changed things along with quicken to a fha thinking that would speed things up. this just gave them more time to screw up. 2more house payments have been made since then, which is more to our advantage, even though they are to confused to figure this out.
now heres the clincher folks my wife and i are both on social security and we were told within the last couple of hours that according to underwriters they wanted a document from social security stating that they would guarantee paying us for the next 3yrs. we told them there was NO such thing, they say yes there is. we call ss to verify, and they tell us that would be discriminting to the disabled and gave us the info on what to do if we had problems with this, like the naacp and united civil liberties union. we were able to get the president of recovery banker at quicken, and he now has to get in touch with all of those other qualified employees at quicken and the underwriters to school them on how to handle this.

I WONDER IF QUICKEN WILL GIVE THEIR EMPLOYEES A GUARANTEE THAT THEY WILL HAVE A JOB FOR THE NEXT 3YRS.
LOL, I MEAN WHO DOES ANYONE KNOW THAT CAN GET THAT KIND OF GUARANTEE.

hey realworld, do you really not think that they dont take that money and put it into other investments? you guys make money off of the GOOD FAITH DEPOSIT. EVEN IF YOU CLOSE AND GIVE IT BACK YOU GUYS MAKE INTEREST. DUH.......
HOW MANY OF YOU PEOPLE WORKING THERE CANT CLOSE A LOAN BECAUSE OF INEXPERIENCE? WHO MAKES THE MONEY WHEN IT HAS TO GO UP THE CHAIN?
QUICKEN HIGHER UPS THRIVE ON THE INABILITY OF THE STAFFMEMBERS EXP.
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#16 Consumer Comment

real world???????

AUTHOR: Ath - (U.S.A.)

your responses baffle me, im really digging thru your posts.......
i was guaranteed 30 grand in refi, my income to debt ratio is very low and my credit score is in the 740 area, and my wife is over 800. our only debt is our house, and we have knocked 30yr mortgage into 12 because of extra payments. we told them if we cant pull 30g we were not doing it at all, it would not be worth it, we are locked in to a low 30 yr at maybe a percent higher, so the 6grand closing cost would not be worth our time, or to our advantage.
we have special circumstances in that there isnt a comparable in our city. they said not an issue, if the comp is a problem they would get a realtor to say what they would sell it for. they did none of this. an appraiser came by and did his 5min $275 walk around my property and took pictures of the inside.
my house was appraised in the 280's 2 yrs ago and the 1 comp that they found 1was 160g. WHAT?????? the house they use as a comparable is a 3 bedroom 1 and a half bath. my house has 5 bedrooms a soundproofed music recording room/office, 3 full baths, master suite has the jacuzzi tub, a familiy room with an 8 person hot tub that is permanent as the house was built around it. we also have about 8 acres of beach deeded in our land that we pay taxes on. the appraiser didnt even want to see it and it was not added. that is 20 grand right there.
long story short these BOZOS at QUICKEN LOANS want a good faith $500 deposit which they sell hard. they did not come thru at all,and actually lied in conversations, to which they only record the ones that are to their advantage.
we said in every conversation that if they could not pull 30 grand we were not doing it. they offered 10 grand?
also we were told by the rep about a realtor if the comp was a problem, well his superviser says they dont use realtors.
what they do is take the lowest bid on a house and try to play the owner who is on rough times. well im not on rough times and my wife and i thought since our credit and income were good that we would do some work on the house and buy a few luxeries now when we can afford it, as the older we get the less money we will have.
Quickens knows that a huge portion of loans wont go thru, so they ask for 500 bucks. if you close they give it back, but why would i close on a deal i NEVER MADE.
we are still in the middle of doing business as weve been able to take this to higher ground, and they have agreed to refund more than half the money if we didnt go thru with the loan, to which they say should never have been an issue because we should have been said and done. this has still not been without its trial and tribulation. we changed things along with quicken to a fha thinking that would speed things up. this just gave them more time to screw up. 2more house payments have been made since then, which is more to our advantage, even though they are to confused to figure this out.
now heres the clincher folks my wife and i are both on social security and we were told within the last couple of hours that according to underwriters they wanted a document from social security stating that they would guarantee paying us for the next 3yrs. we told them there was NO such thing, they say yes there is. we call ss to verify, and they tell us that would be discriminting to the disabled and gave us the info on what to do if we had problems with this, like the naacp and united civil liberties union. we were able to get the president of recovery banker at quicken, and he now has to get in touch with all of those other qualified employees at quicken and the underwriters to school them on how to handle this.

I WONDER IF QUICKEN WILL GIVE THEIR EMPLOYEES A GUARANTEE THAT THEY WILL HAVE A JOB FOR THE NEXT 3YRS.
LOL, I MEAN WHO DOES ANYONE KNOW THAT CAN GET THAT KIND OF GUARANTEE.

hey realworld, do you really not think that they dont take that money and put it into other investments? you guys make money off of the GOOD FAITH DEPOSIT. EVEN IF YOU CLOSE AND GIVE IT BACK YOU GUYS MAKE INTEREST. DUH.......
HOW MANY OF YOU PEOPLE WORKING THERE CANT CLOSE A LOAN BECAUSE OF INEXPERIENCE? WHO MAKES THE MONEY WHEN IT HAS TO GO UP THE CHAIN?
QUICKEN HIGHER UPS THRIVE ON THE INABILITY OF THE STAFFMEMBERS EXP.
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#17 UPDATE EX-employee responds

Bad Apples

AUTHOR: Steven - (U.S.A.)

Not only is cocaine not frowned upon, it is encouraged. Management buys coke during company incentive trips and an employee almost dies. I wonder if Quicken tried to get this person help? We all know the answer. If they drug tested, they would have to get rid of about half the Quickbots and most management. The point you should of said is Quicken is mostly bad apples with a few decent people. Most of the decent people leave in time.
By the way, I work of 40 hour a week job in the medical industry for 2 years. Make more money than 99% of Quickbots and I am in Graduate School half way done with my masters and still have MUCH more time to spend with my family than the few miserable months I was a Quickbot. Don't worry about me. I have a real job that is not artificially done with the help of Coke, slushies, cigarettes, and pills.
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#18 UPDATE EX-employee responds

Bad Apples

AUTHOR: Steven - (U.S.A.)

Not only is cocaine not frowned upon, it is encouraged. Management buys coke during company incentive trips and an employee almost dies. I wonder if Quicken tried to get this person help? We all know the answer. If they drug tested, they would have to get rid of about half the Quickbots and most management. The point you should of said is Quicken is mostly bad apples with a few decent people. Most of the decent people leave in time.
By the way, I work of 40 hour a week job in the medical industry for 2 years. Make more money than 99% of Quickbots and I am in Graduate School half way done with my masters and still have MUCH more time to spend with my family than the few miserable months I was a Quickbot. Don't worry about me. I have a real job that is not artificially done with the help of Coke, slushies, cigarettes, and pills.
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#19 UPDATE EX-employee responds

Bad Apples

AUTHOR: Steven - (U.S.A.)

Not only is cocaine not frowned upon, it is encouraged. Management buys coke during company incentive trips and an employee almost dies. I wonder if Quicken tried to get this person help? We all know the answer. If they drug tested, they would have to get rid of about half the Quickbots and most management. The point you should of said is Quicken is mostly bad apples with a few decent people. Most of the decent people leave in time.
By the way, I work of 40 hour a week job in the medical industry for 2 years. Make more money than 99% of Quickbots and I am in Graduate School half way done with my masters and still have MUCH more time to spend with my family than the few miserable months I was a Quickbot. Don't worry about me. I have a real job that is not artificially done with the help of Coke, slushies, cigarettes, and pills.
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#20 UPDATE EX-employee responds

Bad Apples

AUTHOR: Steven - (U.S.A.)

Not only is cocaine not frowned upon, it is encouraged. Management buys coke during company incentive trips and an employee almost dies. I wonder if Quicken tried to get this person help? We all know the answer. If they drug tested, they would have to get rid of about half the Quickbots and most management. The point you should of said is Quicken is mostly bad apples with a few decent people. Most of the decent people leave in time.
By the way, I work of 40 hour a week job in the medical industry for 2 years. Make more money than 99% of Quickbots and I am in Graduate School half way done with my masters and still have MUCH more time to spend with my family than the few miserable months I was a Quickbot. Don't worry about me. I have a real job that is not artificially done with the help of Coke, slushies, cigarettes, and pills.
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#21 UPDATE Employee

Jim

AUTHOR: Real World - (U.S.A.)

Jim that team member will be looking for new work and will not work for this company.Sorry to hear that things did not work out for you. All companys have bad apples.
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#22 UPDATE EX-employee responds

Real World...it's not your fault

AUTHOR: Jim - (U.S.A.)

Real World, I'm happy to inform you that I've (thankfully) been employed since I've left Quicken.

It's been long enough since I've worked at Quicken that I've forgotten that behind all sales pitch that you spew, there's a real person. Guessing from your demeanor, I'm going to guess that you're a family guy. You really mean the best and try to do the best for your clients, but may not know as much as you lead on to. I feel for you man. It's not an easy industry, nor an easy company to work for. Just know that Quicken is not the only game in town.

The only thing that bothers me is when you write these half -truth sales spins on here. Yes some people on here are just complaining because theor appraisal comes in low. But others have legitimate gripes with the company. How many times have you head your co-workers not be up front in explaining the deposit. If you tell me never, then I'd call you a liar. If you have not heard of it personally, you know of many instances where it's happened.

Kust be realistic with these people that post their complaints on here. That's all I ask.
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#23 UPDATE Employee

Jim and Steve

AUTHOR: Real World - (U.S.A.)

You both need to spend your time finding a job. Sorry it did not work out for you.
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#24 UPDATE EX-employee responds

Real World

AUTHOR: Steven - (U.S.A.)

You must understand this Real World. His world consists of cocaine, slushies, and Red Bull. Most legit brokers have been in the business 5+ years while the typical Quickbot has been doing it 1-6 months. Through their Banker Greatness training, they are brainwashed into thinking they know everything but really only know what they are programmed. Quickbot= No experience!
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#25 UPDATE EX-employee responds

Realworld...again....you do not understand the mortgage industry

AUTHOR: Jim - (U.S.A.)

So what you're saying is that the GFE that a broker has their client signed is not as good as one that Quicken sends out because at quicken they have underwriting approval?

Guess what?!?!?! Thes same thing happens in the broker world too! It's called DU/LP (depending if you're going fannie or freddie). As I stated before, most brokers will already know which lender they are taking the loan through before they take the application. This includes DU/LP approval.

What you don't seem to understand is that Quicken is not doing anything that others can't. For all the "conforming" loans that Quicken writes, you are running your loans through your system for DU approval. those that do not meet guidelines are going for a manually underwritten program. Simple as that. So a Quicken GFE means nothing more than a GFE from a broker. In fact, becuase DU is universal to most lenders, once the broker gets that approval, they can shop from lender to lender to find the best rate for their client. You, at Quicken, cannot.

It's pretty sad that I have to teach you how your own company works.....isn't it?
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#26 UPDATE Employee

Jim GFE

AUTHOR: Real World - (U.S.A.)

Jim GFE must mean Go Find employment.Please, anyone can send a GFE to a client and this does not mean a thing without the fill approval by a underwriter.As for the deposit, this is credited back at closing.
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#27 Consumer Comment

IN THE REAL WORLD - REQUIRING FEES UPFRONT IS ILLEGAL

AUTHOR: Laurie - (U.S.A.)

PER THE FEDERAL TRADE COMMISSION.

From the FTC Website
look at the Advanced Fee Loan Scams information

Any up-front fee that the lender wants to collect before granting the loan is a cue to walk away,
Legitimate lenders often charge application, appraisal, or credit report fees. The differences? They disclose their fees clearly and prominently; they take their fees from the amount you borrow; and the fees usually are paid to the lender or broker after the loan is approved.
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#28 UPDATE EX-employee responds

Real world....have you ever heard of a GFE?

AUTHOR: Jim - (U.S.A.)

Given your lack of experience in the lending industry, you may not realize that a broker has to have application docs signed BEFORE they can send the loan package to the lender. This includes the Good Faith Estimate, in which the lender's fee are always included.

95% of the time a broker will already know which lender they are going to submit a loan through before they take the application. Usually the only time that changes is when some verification (assets/income) fall short of expectation. When that happens at quicken, you deny the loan. When that happens to a broker, they usually have other resources to take the loan to. It comes down to the plain and simple fact that brokers are much more nimble than a large lender like Quicken.

You really should read up on some of this.....
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#29 UPDATE Employee

Jim

AUTHOR: Real World - (U.S.A.)

A Broker gets pay just like everyone else, however they have to find a bank to fund the loan and in most cases will not inform the client on the bank charges on top of his / her charges.
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#30 UPDATE Employee

Jim

AUTHOR: Real World - (U.S.A.)

A Broker gets pay just like everyone else, however they have to find a bank to fund the loan and in most cases will not inform the client on the bank charges on top of his / her charges.
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#31 UPDATE Employee

Jim

AUTHOR: Real World - (U.S.A.)

A Broker gets pay just like everyone else, however they have to find a bank to fund the loan and in most cases will not inform the client on the bank charges on top of his / her charges.
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#32 UPDATE Employee

Jim

AUTHOR: Real World - (U.S.A.)

A Broker gets pay just like everyone else, however they have to find a bank to fund the loan and in most cases will not inform the client on the bank charges on top of his / her charges.
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#33 UPDATE EX-employee responds

Real World - This is your first mortgage jobs, isn't it?

AUTHOR: Jim - (U.S.A.)

You said:

"As for MR broke, good for you in taking over a loan you did nothing to earn it and by the why make sure you tell the client you charged them to just find a bank to fund the loan when they could have save the money and keep the QL loan."

Do you have any idea how the mortgage industry works? I mean anything passed the training that Quicken has given you. Do you really think that a consumer pays more to use a broker than they would at Quicken?

Tell me this...how does a broker get paid? How does their "operation" work? Show off a little bit.....wow us with your knowledge.
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#34 UPDATE EX-employee responds

Real World - This is your first mortgage jobs, isn't it?

AUTHOR: Jim - (U.S.A.)

You said:

"As for MR broke, good for you in taking over a loan you did nothing to earn it and by the why make sure you tell the client you charged them to just find a bank to fund the loan when they could have save the money and keep the QL loan."

Do you have any idea how the mortgage industry works? I mean anything passed the training that Quicken has given you. Do you really think that a consumer pays more to use a broker than they would at Quicken?

Tell me this...how does a broker get paid? How does their "operation" work? Show off a little bit.....wow us with your knowledge.
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#35 UPDATE EX-employee responds

Real World - This is your first mortgage jobs, isn't it?

AUTHOR: Jim - (U.S.A.)

You said:

"As for MR broke, good for you in taking over a loan you did nothing to earn it and by the why make sure you tell the client you charged them to just find a bank to fund the loan when they could have save the money and keep the QL loan."

Do you have any idea how the mortgage industry works? I mean anything passed the training that Quicken has given you. Do you really think that a consumer pays more to use a broker than they would at Quicken?

Tell me this...how does a broker get paid? How does their "operation" work? Show off a little bit.....wow us with your knowledge.
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#36 UPDATE Employee

Evil Eliminator and MR Broke

AUTHOR: Real World - (U.S.A.)

Please you think QL makes money on deposits. So let me ask you this. If my company works on a clients file and that client pulls the loan, who do you think is going pay for all the work that was done on the file?

Again we credit the deposit back and if a client wants to pull the loan to keep shopping, then thats thier problem and should have not move forward in the first place. As for MR broke, good for you in taking over a loan you did nothing to earn it and by the why make sure you tell the client you charged them to just find a bank to fund the loan when they could have save the money and keep the QL loan.
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#37 Consumer Comment

Mr. Nice you are so full of CA CA we can smell you a mile away

AUTHOR: John K - (U.S.A.)

I am processing a loan for some nice folks in Washington State that were suckered into giving their credit card to some joker at Quicky Loans. When the good faith estimate arrived, the numbers that were discussed on the phone were a lot higher than expected (Ok sure, its only a good faith estimate, BUT READ ON)

When the home owners called Quicky to let them know that they were not interested in pursuing the transaction, Quick refused to refund them the $600.00, ordered the appraisal anyway, and (to top it off) wouldn't give the home owner the appraisal that the owner PAID FOR!

In the end, everything was transferred over to me and I emailed the home owner THEIR appraisal.

Don't feel bad Quick. People just like me better than they like you.
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#38 UPDATE EX-employee responds

Really? Quicken doesn't make money off deposits??

AUTHOR: Evil Eliminator - (U.S.A.)

What fantasy world do you live in? Quicken makes money on deposits. They know most people will not complain long and hard enough to get their money back when they were lied to. I can see Quicken Execs sitting around a pub table laughing about this fact. I am sure they are calling everyone suckers and counting their $100 bills in this scenario.
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#39 UPDATE Employee

nice

AUTHOR: Real World - (U.S.A.)

Again, we only get paid by closing loan. Get real and get a better credit score so we can close your loan or someone.
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#40 UPDATE EX-employee responds

I find this funny

AUTHOR: Evil Eliminator - (U.S.A.)

I find this very humorous that by defending your practice you turn the attention to myself and "my" credit score. Since you have the ability to determine one's credit score by reading a few lines of text then what was the victim's score in this case? Why were they denied?

If you work for Quicken Loans, you know this happens. If you truly believe it doesn't, then prove me wrong by putting together a tour of your company's sales floor for potential clients. Let them listen to a few phone calls and see what is really happening behind the scenes. Let them watch as you manipulate the figures in your underwriting system to make it look as though someone is approved when you know perfectly well they have no chance of closing.

If you are unable or unwilling to do this then go ahead and again reply "nuh uh...we don't suck, you do."
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#41 UPDATE EX-employee responds

Very True

AUTHOR: Evil Eliminator - (U.S.A.)

I am sure this happened. This happens every day at Quicken Loans. A loan officer wanted to feel good about themselves by taking someone's money and putting a meaningless number on a sales board. They lie, cheat and steal from helpless victims.

If the credit score was below 620, why would your company have taken this poor consumers money. Surely the loan officer would have had access to a credit report prior to collecting any good faith money correct?

Run, Run, Run away...do not attempt to do business with this company.
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#42 UPDATE EX-employee responds

Very True

AUTHOR: Evil Eliminator - (U.S.A.)

I am sure this happened. This happens every day at Quicken Loans. A loan officer wanted to feel good about themselves by taking someone's money and putting a meaningless number on a sales board. They lie, cheat and steal from helpless victims.

If the credit score was below 620, why would your company have taken this poor consumers money. Surely the loan officer would have had access to a credit report prior to collecting any good faith money correct?

Run, Run, Run away...do not attempt to do business with this company.
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#43 UPDATE EX-employee responds

Very True

AUTHOR: Evil Eliminator - (U.S.A.)

I am sure this happened. This happens every day at Quicken Loans. A loan officer wanted to feel good about themselves by taking someone's money and putting a meaningless number on a sales board. They lie, cheat and steal from helpless victims.

If the credit score was below 620, why would your company have taken this poor consumers money. Surely the loan officer would have had access to a credit report prior to collecting any good faith money correct?

Run, Run, Run away...do not attempt to do business with this company.
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#44 UPDATE Employee

NOT TRUE

AUTHOR: Real World - (U.S.A.)

This is not true at all.If you are going to slam this company, then tell the truth as for this is way off and sounds like your credit score was under 620.
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