Quicken Loans Managers at Quicken Loan Consultants to Take a Deposit No Matter What!! Livonia, Livonia, Michigan

I am doing the rounds with the Kelly entity that responds with glib comments about how everyone in every thread is WRONG except her and the company that hired her/him to LIE. This is obviously a pseudonym used by anyone in the company assigned to repeating the same canned comments. In my case this is doubly wrong since NOTHING was given me except that I sign some papers. When I pulled out, almost immediately, there were no service like inspections to offset the expenses. In short because I signed some papers that was enough to charge me $500 mind you AFTER I withdrew myself for their offering. Citicard was charged AFTER I withdrew they knew exactly what they were doing. I don't know about you but I think charging me $500 pay to withdraw a signature is at best sleazy - by any standard.

Obviously the last rebuttal is from someone that works for Quicken Loans. The posts about the negative approach to common folk are true since I have dealt with the same and have reported my experiences. They kept my deposit even though there was NO settlement, then alone an inspection, and I have been waiting for an answer from Clayton now for four weeks. My experience happened in 2009 and I am still waiting for the company to do the RIGHT THING. Their main source of profits comes from their bogus deposit scam. I am out for $500 and the company provided me no service. See my posts for more exact information.

From one of the hundreds of consumers taken by Quicken, you are either not being truthful or very misguided.

I can understand practicing getting deposits, but the card is not charged until the day after the documents are signed and the supporting documents are sent to the underwriting team. No bankers or directors get those funds.

Allow me to clarify. Deposits would be taken on almost everything. I believe this was done to get people in the habit of taking deposits. If the loan is denied for any reason, appraisal, credit, collateral, etc the deposit would be refunded minus any cost incurred. But, there is a catch to this. If the loan is approved, the deposit does not get refunded. Basically, Quicken will hold the deposit for ransom to try and force you to close on the loan. Once the borrower receives the paperwork and realizes it's not a good loan for them Quicken will use the deposit as leverage to force them to close. This is why the Sales Person would increase the rates and fees.

The minute a customer has an objection, they can tell them they are not getting their deposit back. I can't remember the Sales Directors name but he was on the Money Train. Maybe Jared?? Anyway, he taught his team this trick. Tell them what they want to hear and then use their deposit to force them to close. I remember him yelling at the top of his lungs with his face beat red saying YOU ARE NOT GETTING YOUR DEPOSIT BACK!!!! This was the same person that carried around a baseball bat to intimidate his sales team.

I used to work for Quicken, as well. And my first piece of advice to anyone who is considering working with them or for them is..."DON'T."

With that being said, I do have a question regarding your post. I quit at the beginning of July, just weeks before the whole mortgage meltdown. When I was there, we were definitely encouraged to take deposits and CLOSE! CLOSE! CLOSE! However, we were never encouraged to take deposits for mobiles homes, cars, etc. as you said. Also, deposits were not kept. In fact, I don't even think that was an option. If the loan was denied/withdrawn, the deposit (or whatever was left of it) was automatically reimbursed to the credit card within the next 7-10 days.

Are they keeping deposits now? Say a client calls in and the banker knows they have a mobile home but they take the deposit anyway. And then the client care specialist calls them to do a follow up call and the CCS determines that the loan cannot close so they deny it. Doesn't the client automatically get their deposit back (minus the $7.78 credit pull fee) or has the system changed? And if Quicken is really keeping it, who gets the deposit?

Another question...is the security deposit still charged at folder received? When I worked there, the credit card was not processed for the $500 deposit until the client signed all their documents and sent in supporting documentation. However, I have read complaints from other people that said they changed their mind before returning anything to the banker and they still got charged. But maybe they were just mistaken.

Thanks so much and congrats on getting out of Quicken. Isn't life so much better on the other side? :-)

I used to work for Quicken, as well. And my first piece of advice to anyone who is considering working with them or for them is..."DON'T."

With that being said, I do have a question regarding your post. I quit at the beginning of July, just weeks before the whole mortgage meltdown. When I was there, we were definitely encouraged to take deposits and CLOSE! CLOSE! CLOSE! However, we were never encouraged to take deposits for mobiles homes, cars, etc. as you said. Also, deposits were not kept. In fact, I don't even think that was an option. If the loan was denied/withdrawn, the deposit (or whatever was left of it) was automatically reimbursed to the credit card within the next 7-10 days.

Are they keeping deposits now? Say a client calls in and the banker knows they have a mobile home but they take the deposit anyway. And then the client care specialist calls them to do a follow up call and the CCS determines that the loan cannot close so they deny it. Doesn't the client automatically get their deposit back (minus the $7.78 credit pull fee) or has the system changed? And if Quicken is really keeping it, who gets the deposit?

Another question...is the security deposit still charged at folder received? When I worked there, the credit card was not processed for the $500 deposit until the client signed all their documents and sent in supporting documentation. However, I have read complaints from other people that said they changed their mind before returning anything to the banker and they still got charged. But maybe they were just mistaken.

Thanks so much and congrats on getting out of Quicken. Isn't life so much better on the other side? :-)

I used to work for Quicken, as well. And my first piece of advice to anyone who is considering working with them or for them is..."DON'T."

With that being said, I do have a question regarding your post. I quit at the beginning of July, just weeks before the whole mortgage meltdown. When I was there, we were definitely encouraged to take deposits and CLOSE! CLOSE! CLOSE! However, we were never encouraged to take deposits for mobiles homes, cars, etc. as you said. Also, deposits were not kept. In fact, I don't even think that was an option. If the loan was denied/withdrawn, the deposit (or whatever was left of it) was automatically reimbursed to the credit card within the next 7-10 days.

Are they keeping deposits now? Say a client calls in and the banker knows they have a mobile home but they take the deposit anyway. And then the client care specialist calls them to do a follow up call and the CCS determines that the loan cannot close so they deny it. Doesn't the client automatically get their deposit back (minus the $7.78 credit pull fee) or has the system changed? And if Quicken is really keeping it, who gets the deposit?

Another question...is the security deposit still charged at folder received? When I worked there, the credit card was not processed for the $500 deposit until the client signed all their documents and sent in supporting documentation. However, I have read complaints from other people that said they changed their mind before returning anything to the banker and they still got charged. But maybe they were just mistaken.

Thanks so much and congrats on getting out of Quicken. Isn't life so much better on the other side? :-)

I used to work for Quicken, as well. And my first piece of advice to anyone who is considering working with them or for them is..."DON'T."

With that being said, I do have a question regarding your post. I quit at the beginning of July, just weeks before the whole mortgage meltdown. When I was there, we were definitely encouraged to take deposits and CLOSE! CLOSE! CLOSE! However, we were never encouraged to take deposits for mobiles homes, cars, etc. as you said. Also, deposits were not kept. In fact, I don't even think that was an option. If the loan was denied/withdrawn, the deposit (or whatever was left of it) was automatically reimbursed to the credit card within the next 7-10 days.

Are they keeping deposits now? Say a client calls in and the banker knows they have a mobile home but they take the deposit anyway. And then the client care specialist calls them to do a follow up call and the CCS determines that the loan cannot close so they deny it. Doesn't the client automatically get their deposit back (minus the $7.78 credit pull fee) or has the system changed? And if Quicken is really keeping it, who gets the deposit?

Another question...is the security deposit still charged at folder received? When I worked there, the credit card was not processed for the $500 deposit until the client signed all their documents and sent in supporting documentation. However, I have read complaints from other people that said they changed their mind before returning anything to the banker and they still got charged. But maybe they were just mistaken.

Thanks so much and congrats on getting out of Quicken. Isn't life so much better on the other side? :-)