Quicken Loans predatory lending, took $ for a loan that they knew wouldn't work, then refused refund, also under appraised our home by at least $30,000.00!!! Found Online Nationwide

The Client Relations team believes that we have identified the author of this post and we will be contacting our former client within the next 2 business days. If anyone is experiencing difficulty with their loan please do not hesitate to contact our team. We'd like the opportunity to address your concerns. We can be reached at 1 800 863 4332, or via email at help@quickenloans.com. Our goal is for every client to have an outstanding experience with Quicken Loans which is why 94% of our clients say they would refer us to friends and family. We look forward to hearing from you.

Clients aren't referred to as "rate whores", the internet lenders such as Quicken, DiTech, etc. are. They attempt to lure with lower advertised rates, and then tack on undisclosed fees or make it difficult to obtain customer service. Try establishing an ongoing relationship with an online banker or stop in for a chat and a cup of coffee and you'll see what I mean. Sorry if you misunderstood the post Jane.

Take care,

Clients aren't referred to as "rate whores", the internet lenders such as Quicken, DiTech, etc. are. They attempt to lure with lower advertised rates, and then tack on undisclosed fees or make it difficult to obtain customer service. Try establishing an ongoing relationship with an online banker or stop in for a chat and a cup of coffee and you'll see what I mean. Sorry if you misunderstood the post Jane.

Take care,

Clients aren't referred to as "rate whores", the internet lenders such as Quicken, DiTech, etc. are. They attempt to lure with lower advertised rates, and then tack on undisclosed fees or make it difficult to obtain customer service. Try establishing an ongoing relationship with an online banker or stop in for a chat and a cup of coffee and you'll see what I mean. Sorry if you misunderstood the post Jane.

Take care,

Clients aren't referred to as "rate whores", the internet lenders such as Quicken, DiTech, etc. are. They attempt to lure with lower advertised rates, and then tack on undisclosed fees or make it difficult to obtain customer service. Try establishing an ongoing relationship with an online banker or stop in for a chat and a cup of coffee and you'll see what I mean. Sorry if you misunderstood the post Jane.

Take care,

Calling your potential clients 'rate whores'! It is my hope that your attitude is not indicative of your company. I hope that one of your higher ups reads this and takes the appropriate steps to fire you. SHAME ON YOU!

Calling your potential clients 'rate whores'! It is my hope that your attitude is not indicative of your company. I hope that one of your higher ups reads this and takes the appropriate steps to fire you. SHAME ON YOU!

Calling your potential clients 'rate whores'! It is my hope that your attitude is not indicative of your company. I hope that one of your higher ups reads this and takes the appropriate steps to fire you. SHAME ON YOU!

An important part of your 2nd post is the fact that the appraiser chosen nay not be from your area when you deal with an internet lender or a "box bank". Quite frankly, in the business we refer to them as "rate whores". It never fails to amaze me how many people will go anywhere to save a quarter point or so on a lona, and then complain when they can't receive the fast decisions and superior service that your local bank can. Sorry folks, but rate isn't everything.

Banker John

Sorry, but you as the borrower don't really have a choice of appraisers. The appraisers any lender uses have to be approved in advance bu the lending institution. At my bank, we have 3 approved appraisers and while we may offer a choice of these 3 to a prospective borrower if they happen to conflict with one of them, we will not accept an appraiser from other that this pool.

Banker John

Then why even after their appraisal were we not allowed to get our own appraiser? any other co. would let you get a 2nd appaisal by your own co.? We have had the last 3 appraisal done by someone who is familiar with the area we live in. Quicken loans sent someone from an area that is nothing like the place we live and as a business owner myself we all know that each town is different in their value of homes and property.

Lenders do not do appraisals. Certified (independent contractors) appraisers are contracted for by lending institutions rather they be online sources of funding or banks. A lender has no interest in underapprasising a property; lenders make their income from the interest over the life of a loan and will try to make the loan wherever possible. Also, appraising is not an exact science and opinions vary; a discrepancy of 30K is unusual though (unless we're talking about a very pricey property) and probably is more reflective of changing market conditions due to interest rate increases over the last year.

The $350.00 fee you paid is probably to cover the cost of them paying the appraiser they contracted for. While appraisals here usually run n the $175.00 - $225.00 range, they can be higher if in a rural area requiring travel, the property has unusual features, or if market pricing for appraisers is higher in your area. I have no affiliation with Quicken, in fact they are a competitor for me, but I just thought this info may explain what has happened. 3 months to underwrite a deal is a bit rediculous though; my clients hace a pre-approval (subject to appraisal and title search) in 24 hours and we usually close within 7-14 days.

Banker John

Lenders do not do appraisals. Certified (independent contractors) appraisers are contracted for by lending institutions rather they be online sources of funding or banks. A lender has no interest in underapprasising a property; lenders make their income from the interest over the life of a loan and will try to make the loan wherever possible. Also, appraising is not an exact science and opinions vary; a discrepancy of 30K is unusual though (unless we're talking about a very pricey property) and probably is more reflective of changing market conditions due to interest rate increases over the last year.

The $350.00 fee you paid is probably to cover the cost of them paying the appraiser they contracted for. While appraisals here usually run n the $175.00 - $225.00 range, they can be higher if in a rural area requiring travel, the property has unusual features, or if market pricing for appraisers is higher in your area. I have no affiliation with Quicken, in fact they are a competitor for me, but I just thought this info may explain what has happened. 3 months to underwrite a deal is a bit rediculous though; my clients hace a pre-approval (subject to appraisal and title search) in 24 hours and we usually close within 7-14 days.

Banker John

Lenders do not do appraisals. Certified (independent contractors) appraisers are contracted for by lending institutions rather they be online sources of funding or banks. A lender has no interest in underapprasising a property; lenders make their income from the interest over the life of a loan and will try to make the loan wherever possible. Also, appraising is not an exact science and opinions vary; a discrepancy of 30K is unusual though (unless we're talking about a very pricey property) and probably is more reflective of changing market conditions due to interest rate increases over the last year.

The $350.00 fee you paid is probably to cover the cost of them paying the appraiser they contracted for. While appraisals here usually run n the $175.00 - $225.00 range, they can be higher if in a rural area requiring travel, the property has unusual features, or if market pricing for appraisers is higher in your area. I have no affiliation with Quicken, in fact they are a competitor for me, but I just thought this info may explain what has happened. 3 months to underwrite a deal is a bit rediculous though; my clients hace a pre-approval (subject to appraisal and title search) in 24 hours and we usually close within 7-14 days.

Banker John