Quicken Loans & Dan Gilbert New 2nd OT Case -Dan Owes Us for 80 Hours Work Week Livionia Michigan

Great work, I'm having some other past & even current emp contact them (media). My inside guy "MM" is getting me info from the inside of the place, it's good to have a guy on the inside. I will for sure note the name of the reporter assigned to the story. You hear that Danny? THE MEDIA IS WORKING ON OUR STORY - THE REAL TRUTH TO YOUR EMPIRE. detroit needs to know, the us needs to know.

PS: all DANNY "SHOE LIFT" GILBERT has to do is pay us the overtime he owes us and stop being a RIPOFF midgit. He also needs to stop treating the workers (LO's) like s*** and having your dumb a** managers and DVP stop the DRUGS in that place.

QUICKEN LOANS = DRUGS, SEX, AND UNDERPAID all for working 80 hours a week and making 45k a year which comes to about $8/hour

Just got another response from the media...Keep sending your information and stories along because I think people are starting to see the other side of the story that Dan doesn't openly share....

Belated thanks for the note. Yours is not the only one like that I have received. My colleague, Eric Morath, is looking deeper into this story. Am forwarding him your note; you may hear from him.

-- DCH

______________________
Daniel Howes
Business columnist & associate business editor
The Detroit News
615 W. Lafayette Blvd.
Detroit, MI. 48226

W: +1 313 222 2106
Mobile: +1 313 632 1945
mailto:dchowes@detnews.com

What happened to you Mildly Amused? Can't you explain whats going on with your stories?

My guess is you have since been fired from Quicken (even though you were in the top 50 bankers???) and you realize what a crock it is...

If this guy was on letter and a top 50 phone monkey, than that means over 2350 monkeys were on letter. Even more reason why this company is a joke. Thanks for making the best case for our argument.

More than likely it is Dan Gilbert's public relations machine working. This is the busiest department in the company since the company is so shady.

Another question: Why no drug testing? Is it because half of the management team are coke addicts? (alledgedly)

If this guy was on letter and a top 50 phone monkey, than that means over 2350 monkeys were on letter. Even more reason why this company is a joke. Thanks for making the best case for our argument.

More than likely it is Dan Gilbert's public relations machine working. This is the busiest department in the company since the company is so shady.

Another question: Why no drug testing? Is it because half of the management team are coke addicts? (alledgedly)

If this guy was on letter and a top 50 phone monkey, than that means over 2350 monkeys were on letter. Even more reason why this company is a joke. Thanks for making the best case for our argument.

More than likely it is Dan Gilbert's public relations machine working. This is the busiest department in the company since the company is so shady.

Another question: Why no drug testing? Is it because half of the management team are coke addicts? (alledgedly)

If this guy was on letter and a top 50 phone monkey, than that means over 2350 monkeys were on letter. Even more reason why this company is a joke. Thanks for making the best case for our argument.

More than likely it is Dan Gilbert's public relations machine working. This is the busiest department in the company since the company is so shady.

Another question: Why no drug testing? Is it because half of the management team are coke addicts? (alledgedly)

Hey Mildly Amused, your facts just don't add up.

1. You have only been there a year so you must only be a banker. Now, you could be a senior banker, but you probably aren't since you stated you were given a letter.

2. You were put on letter which means that you weren't making the minimum expectations of 8 units or 1.2 million per month.

3. Assuming that you have made the minimum 8 units per month at $200 a unit, you would make $19,200 on these units. Base salary of $24,000 puts you at $43,200. Lets say you like to rip people off and we'll say a total of $50,000 a year with the green bar. But we've already established that you weren't making 8 units a month because you were put on letter so you probably aren't making this. So how are you living free & clear in that house in one of the most affluent communities?

4. You say you are the top 50 of 2500 bankers? I doubt this because you were on letter and not making the minimum units.

Explain this to me.

Hey Mildly Amused, your facts just don't add up.

1. You have only been there a year so you must only be a banker. Now, you could be a senior banker, but you probably aren't since you stated you were given a letter.

2. You were put on letter which means that you weren't making the minimum expectations of 8 units or 1.2 million per month.

3. Assuming that you have made the minimum 8 units per month at $200 a unit, you would make $19,200 on these units. Base salary of $24,000 puts you at $43,200. Lets say you like to rip people off and we'll say a total of $50,000 a year with the green bar. But we've already established that you weren't making 8 units a month because you were put on letter so you probably aren't making this. So how are you living free & clear in that house in one of the most affluent communities?

4. You say you are the top 50 of 2500 bankers? I doubt this because you were on letter and not making the minimum units.

Explain this to me.

Hey Mildly Amused, your facts just don't add up.

1. You have only been there a year so you must only be a banker. Now, you could be a senior banker, but you probably aren't since you stated you were given a letter.

2. You were put on letter which means that you weren't making the minimum expectations of 8 units or 1.2 million per month.

3. Assuming that you have made the minimum 8 units per month at $200 a unit, you would make $19,200 on these units. Base salary of $24,000 puts you at $43,200. Lets say you like to rip people off and we'll say a total of $50,000 a year with the green bar. But we've already established that you weren't making 8 units a month because you were put on letter so you probably aren't making this. So how are you living free & clear in that house in one of the most affluent communities?

4. You say you are the top 50 of 2500 bankers? I doubt this because you were on letter and not making the minimum units.

Explain this to me.

Hey Mildly Amused, your facts just don't add up.

1. You have only been there a year so you must only be a banker. Now, you could be a senior banker, but you probably aren't since you stated you were given a letter.

2. You were put on letter which means that you weren't making the minimum expectations of 8 units or 1.2 million per month.

3. Assuming that you have made the minimum 8 units per month at $200 a unit, you would make $19,200 on these units. Base salary of $24,000 puts you at $43,200. Lets say you like to rip people off and we'll say a total of $50,000 a year with the green bar. But we've already established that you weren't making 8 units a month because you were put on letter so you probably aren't making this. So how are you living free & clear in that house in one of the most affluent communities?

4. You say you are the top 50 of 2500 bankers? I doubt this because you were on letter and not making the minimum units.

Explain this to me.

No, I am not a broker. I got out of the mortgage business altogether. I really was never in it since I was just a phone monkey for Jay. Here are the reasons I stopped drinking the Kool-Aid.

1. Their full approval is a total joke on Power Buyer. I couldn't lie to clients and tell them that it was more than just a Conditionally Approved Program, no different than anyone else, just with more false promises.

2. After always being brainwashed how strong and how much better we were than everyone else, started to realize our rates were alot higher than local banks and most honest brokers. But when the company started pulling out of promises they made, especially on purchases.

I had a client who had a good offer with a reputable lender for a Jumbo mortgage. He was referred by a friend who is a realtor. I told the realtor "how Quicken takes care of clients better than anyone." We got the deal by taking some concessions since he said if we could match the deal, he would work with me.

Through the process, he gave me 2 referrals and my realtor friend gave me another. Now my business was starting to move forward! But then 3 weeks before closing, with rate lock and program, full underwriting done way ahead of time, everything in place, I get a call on my way to work. He says there is some concern about a call that he got. (I was not notified as the banker).

They could not close the loan due to market conditions. (Does Quicken give locked clients lower rates if rates go down? We all know that answer) Since Quicken IS NOT a real direct lender, they cannot do many things others can do.

So I talk to my directorand he says "we cannot do that deal. F*$E this guy, he's got money, he can pay more for that rate." I knew right then and there that my word could not be supported by this shady company. Unlike most coked up bankers at Quicken, I cared about my clients and I back up my word.

So the client gets transferred to our VP and argues and lets them know he will not lie down and be walked over and they reluctantly agree to fund the loan. Next, about 48 hours before close, the client gets a call when he is out of the country on his answering machine saying that they cannot do this loan. He is furious. His fiance calls him and tells him. (Of course, as the banker, I am not made aware of this.

As far as I know the loan is going to close as promised) Fortunately for him, he knows the right people. He calls the guy in charge of the entire web center, threatens to take this story to the local paper since he personally knows the editor who would love this story. He tells him that he has already talked to the Attorney General's office since Quicken had previously tried to weasle out of there promise and "doing the right thing."

After 3 hours on the phone with the head of the web center, they act like they are doing him a favor and actually close the loan with the terms agreed upon. But as the banker, a 2 very promising referral sources are lost forever and I cannot blame them. (Unlike most Quicken Bankers, I understand how to get referrals since I used to actually be a salesman before I become a phone monkey)

3. When the market hit tough times, Quicken started firing everyone with threats and making conditions pure hell. After someone putting family way behind this crap company, and working 14 hour days to try to fight through the tough times, then being told by a director who was a product of the refi boom and never had to sell in a tough market, since most directors have 1-3 years in the business, that you are worthless and not doing the right things to be successful.
No mention that are programs have been more than cut in half or as Bob Walters stated, the worst mortgage market since the 80's.

4. This was after I left, but a friend of mine was given a warning the Friday before last that he needed 6 loans by the end of August or "other actions would occur." He was still drinking the Kool-Aid and had previously committed to this company by relocating closer to work and taking on a higher rent payment. He said that he would "stay overnite if he had to to hit the goal." 2 business days later he had 2 loans on the board and another on the way.

He was ahead of goal. Management was thrown a curve ball. Most people get that letter, get pissed off with the crap, and just leave. This guy was going to hit the goal. Management needing to cut the sales force due to conditions, fired him 2 business days after the letter with him on pace. They said it is just not working out.

Why give the letter if they don't mean what they say. They did not want this guy to hit the goal. Maybe it was because he was a male, not in the coke using crowd (no drug testing at Quicken, they would lose half of management if they did that), whatever. He was fired!

5. Also, if they are not laying off, how come they have fired more people in the past month than they have all year?

6. I was able to find a job when I saw the writing on the wall. I have no problem, unlike most Phone Monkeys, I have real sales experience (prospecting, referrals, face to face sales, etc.)

I am mostly pissed off at them for what they are doing to many of my friends who are younger, made moves, quit other jobs to come work at Quicken only to be screwed over and lied to. The company knows who they are going to fire, most of the time, not production related, but they make the employees work 12-14 hour days, so they cannot interview, cannot get unemployment since Quicken will fight it, or fire them just before they would be eligible for unemployment. I think another reason they chose Cleveland was because Ohio is terrible for workers rights.

7. I have many other stories but I gotta go.

Brian,

so you can sum me up by my posting.


well lets see how well you Know me

1. I am 38 years old
2. I have not 1 but 2 children
3. I have been married for 20 years
3. This is by far not my first place of employment.
6. I have no relatives that work at Quicken Loans, and certaintly no relatives that are in upper management.
7. I have not lived in an apartment in 19 years and the house that I OWN with no mortgage happens to be in one of the more affluent commumities in Metro Detroit.

So i guess that just sums up how very little you know about me.

As far as your laughable estimation of my hourly salary goes, i will hope that you dont worry about me. If i break down my salary into an hourly wage it is just a tad bit more than your $7 estimation lol. Now lets address your estimation of how many hours i work. i have never even come remotely close to working an 80 work week, although i possibly would work that much if my director would let me. As i said before i may posses a few things that you do not sir. Drive, determination and a desire to be the best at what i do. I guess that is why after 1 year of employment i rank in the top 50 producers out of 2500 bankers in the company. Maybe you were just not cut out to be a successful employee at our fine company.

This career is not for everyone and it seems you have found something that suits you better and i am happy for you. However i just cant stand by while you slander the very company that has given me the opprotunity of a lifetime. As far as that kool aid you are talking about. I drink slushy's my friend, i prefer the cherry coke or the pina colada flavored ones.

AND TO STEVEN, I HAVE NOT FORGOTTON ABOUT YOU.

I wonder if you are the broker that just screwed over my new clients in Medina, OH. I just wanted to say thanks for those clients, i was able to help those folks out and get them closed in 13 days. The days of brokers are coming to an end my friend. Your 1 and done mentality just aint gonna hack it in this new market. When the dust settles and Quicken Loans is the number 1 or 2 lender in the nation i may be looking over apple island in my mansion. lol

Oh one more thing i need to address, I have noticed Brian has stated in some other posts and maybe this one too, that quicken has a hiring freeze. I am sorry to say this but he is absolutely wrong, there is a training class in seesion now and another one scheduled after that.

Yes times are tough for now, but quicken has not stopped hiring and they have not laid anyone off.

I have worked for a "few" companies in my adult life in many different fields and Quicken Loans by far is the best I have been associated with. The most important thing is that most of these ex employees are disgruntled and could not be successful at quicken. It mainly just sour grapes and this is a vehicle for them to blameshift their inability to successful onto a company that i can assure did everything they could to help them be successful.

Regards

If you had real drive, you would work for yourself as a broker and find your own leads. You depend on company provided leads! You do not know how to sell or prospect, as most bankers at Quicken. You are not a sales person, you are an order taker. Keep drinking the Kool-Aid. There so-called training coaches are doing that job because they wanted out of the mortgage banker position. They usually have 9 months experience at the company. Great coaching! Most of the directors were products of the refi boom. We had a director step down a couple months back in Cleveland and he did less than 5 loans each of his first 2 months. That is what I would expect from most of the directors. The ones that actually wrote alot of loans wouldn't close loans. They would pressure the client and the client would not continue the process.
Fact: The only people getting rich there are upper management, period!

Mr. Mildly Amused,

I can sum you up based on your posting:

1. You are under 24
2. You have no wife
3. you have no kids
4. This is your first REAL job
5. You are now calling yourself a MORTGAGE EXPERT but you know nothing about being a real loan officer who is a real professional and never takes $500 bucks from people to just get them some numbers
6. You are a family member of upper management so they treat you different
7. I also bet you live in a Apartment never owned a home but you con people out of doing business with you because you're a great BS'er
8. or you simply have no life and is just stupid and enjoy working FREE


Now, go back to working your 80 hours a week and stop believing Bob Walters BS about how great the market is. Meanwhile back at the ranch Jay is sitting in his million dollars home while you make your UNIT ($300 bucks a loan). Also understand that when you do the HOURLY pay divided by the hours you work (at home & in the office) you're only making $7 a HOUR. Great life huh? So keep believing in DAN and his lies about how great life is and fact that this is a BLESSING to you all. YOU'RE DRINKING THE KOOL AID MY MAN, WAKE UP DUDE. They got you.

I am sorry but i have to respond to this distortion of the facts.

I happen to work at Quicken now and have done so for the past year. I can honestly say i have never been told that i was required to work overtime without compensation. As a salaried employee i have on many occassions chose to work some longer days but that was my choice and i did that to help better my career.

I happen to be in one of the top divisions in the company and we are rquired to leave no later than 7pm even if we want to stay on our own accord. However, most of the Mortgage Bankers that i know are set up to be able to work from home and do so at their leisure.

As far as layoffs go i have not heard of anyone being laid off. Even in this tougher market as you call it.

The bottom line is this, if you take your career seriously and you put in the effort that is required to succeed on a daily basis you will have career at quicken.

The compensation plan has been altered several times as the markets have deteriorated in an effort to make it easier for bankers to get paid more.

I myself was put on letter for lack of production and was able to meet the resonable goals that were set for me to help get me back to being a contributing employee to the company. I recieved all forms of assistance from my director, dvp and region coach. They were happy to help me and gave me the resourses i needed to become successful in this "harder market"

Here is the thing, if you are in sales and you dont pull your weight i dont know what company out there would be willing to carry a liabilty to profits for any period of time.

Have there been some cutbacks? Absolutely, but if Quicken cuts back a little now, and i still have a position there when the dust settles from the mortgage indusrty collapse. I will be very happy to continue to work for the best company in Michigan.

I beleive that if people are being fired like you say, i am sure there is a reason. And that reason is most likely the lack of production or the lack of committment.

Stop being a victim amd take control of you destiny. Maybe you are just not cut out to be an employee for Quicken. You seem just like another person who seems to want something for nothing. It is not easy to be successful in life no matter what it is that you do, some folks just dont have the drive that it takes to be the best.

good luck to ya