- Report: #644227
Report - Rebuttal - Arbitrate
Complaint Review: Quicken Loans
Quicken LoansInternet United States of America
Quicken Loans Former Employee...Do not do business with this company...keep it local and face to face Internet
*UPDATE EX-employee responds: Forbes
*Consumer Comment: Weird
*Consumer Comment: They Will Not Give Resititution...
*Author of original report: Quicken Loans deposit scam response...I can help
*Consumer Comment: Thanx You For This...
The rumors you hear about the 500.00 deposit are true. They will take your money. Its their way of making money regardless if you close or not. Regarding the deposit, always always ask if you are in a nonrefundable state. Never never let them collect a deposit of any kind until your application is processed and you have seen all of the paperwork. Never ever believe what the loan officer tells you he believes your property to be worth. You are a number at this company, the loan officer is fulfilling some sort of an incentive just by taking your application and pulling your credit report. On top of that, the loan officers make very very little on your loan. You might think that is good, well its not because quicken is charging you a very steep price to refinance...in fact, they are right at the legal limit as far as your charges go. The money, outside of an average 200.00 that may go to the loan officer goes right to the pockets of the higher ups (the ones not directly working with you on your loan). You are paying the price for thousands of loan officers and other staff and the fact that it is a nationwide company with lots of marketing costs.
I quit this company because its a sham. It is not an ethical company. I could write a book on some of the practices I saw there.
My advice to anyone getting a mortgage is to keep it local.. Have a face to face meeting with your loan officer. This way you make the person handling your loan accountable. If the loan officer knows that you may pay him a visit and make a scene if things dont go as promised, he will make it a priority to give the best attention to your loan. Do not listen to the bs from quicken...the only reason they are writing your loan over the phone and internet is because it was their practices that has made lending in their home state almost impossible.
They are crooks...Im glad to be out from under that company. And so happy not to be told to work countless hours of overtime unpaid. The employees there arent happy either...they are working for peanuts and are being taken advantage because of the state of the current job market. I wouldnt send my worst enemy there to work and I certainly wouldnt advise anyone to do a loan with them.
This report was posted on Ripoff Report on 09/25/2010 12:40 AM and is a permanent record located here: http://www.ripoffreport.com/r/Quicken-Loans/internet/Quicken-Loans-Former-EmployeeDo-not-do-business-with-this-companykeep-it-local-and-644227. 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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