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76, Report #237849
Mar 02 2007
03:49 PM
Quicken Loans non-reimbursement property appraisal-refused to give report Ripoff Livonia Michigan
A $500.00 deposit was given under the understanding if they were not able to refinance our property our deposit would be refunded. Credit card company refunded deposit, Quicken challenged and charged us $450.00 for Property Appraisal. Quicken refuses to give us a copy of said appraisal or refund the $450.00. Under the Disclosure Law, we have to receive a copy. Numerous phone calls to both the representative and his superior have been to no avail. They refuse to contact us when messages are left. Lou & Jerry Eagle, ColoradoU.S.A.
Entity: Livonia, Michigan
77, Report #267568
Aug 14 2007
08:54 PM
Quicken Loans Hires em if they're immoral Ripoff Livonia Michigan
Well here's to all you moral human beings that enjoy a good hard days work. Because at Quick loans thats not so. After going to an interview with HP in HR I was grilled at the importance of 'closing a loan'. At first I thought that it meant putting in a hard days work, being curtious to the customers, and doing whatever it takes to make it work. When asked 'What would you do if you were to come across a prospect that you knew could get a 5.9% loan and the company would make $1500, but you knew that the company would make $2000 if you talked him in to a loan at 6.4%. Thinking this was an integrity test I answered 'well I'd get him into the loan at 5.9% and hope to get a client for life, and a referal. The thing they taught me at University of Mi AA when I was going for my Bacholers in Finance! Apparently this wasn't the answer as HP continued to tell me that the companies policy was more of the 'hit it and quit it' and the long term client model. They called me back the next day and told me I was hired because I didn't seem like the kind of guy who could push for that 'hard close'. I've heard a ton of other crap about the company since then, and I am sure glad I never got wrapped into that garbage! Never would work at QL Dearborn Heights, MichiganU.S.A.
Entity: Livonia, Michigan
78, Report #267094
Aug 13 2007
09:16 AM
Quicken Loans Lied to us about refinancing in 6 monthes fo free ripoff Livonia Michigan
We went through a long messy process with quicken loans for the purchase of our new home. We where told that we would be able to refianance our home in 6 monthes for free. We explained we had to be able to refinance because the mortgage was to high for us. They told us it would be no problem at all in 6 monthes. When the 6 monthes came they told us we couldn't refinance because that program was not avaliable any more. They also told us our debt to ratio was to high. They told us when we bought our home they would use our credit score we had when we bought our home. Where we scammed? now we can't refianance and have a very high mortgage that we can't afford. Quicken loans also told my sister in law she was approved to buy our other home. Then 3 days before the closings on both homes they told her she was not approved. They told her that she could rent from us for 3 monthes and then she would be all set to buy the house. She is still living there and we have 2 mortgages because they lied and after 3 monthes they still said they didn't have a loan for her. You can see we don't trust this company at all and are very angry. Kylee whiting, VermontU.S.A.
Entity: Livonia, Michigan
79, Report #344203
Jun 25 2008
02:56 PM
Quicken Loans how to complain AND How not to NEED TO COMPLAIN Livonia Michigan
WOW! Anywhere USA! that's a long story, I have a vague idea of what happened to cause your loan to be denied, and some quick tips to get better responses to your complaints. So please do read the entire post. I worked for QL for 5 years, and I saw it all. I no longer work there, I can give you some quick tips on how to make your loan go through as planned and how not to have issues. I think that letters to the Attorney General, the BBB etc are likely a waste of your time (i will get into this in part 2 in further detail) 1. When you apply for a mortgage at Quicken (or anywhere else) it is really important to have accurate information to give to the loan officer. Let me explain what I mean by accurate because i fear that most consumers definition of accurate and the actual definition are not the same INCOME- When they ask you how much you make please give your salary or hourly wage, don't include BONOUS, OVERTIME, SELF EMPLOYMENT, or COMISSIONS. When they ask you how many hours you work be specific with that as well. IF you need Bonus, Overtime, Self Employment, or Commissions to qualify your banker WILL need TAX RETURNS all pages, all schedules (for self employed they will need business returns too!!!) OK now I know we all think we know how to read a tax return but the average person doesn't know how to do in the way an underwriter does. Mortgage companies tally up all of the income and then subtract ALL expenses. This means if you write off a home office, a rental property, mortgage payments on a rental property etc you are likely screwed. Sorry kiddies, but liars are a thing of the past, as they should be and mortgage companies will only give you credit for the income you show to the government. ALSO if you are a part time employee, they will use a 2 year average of your income. IF you have less then 2 on the job sorry it doesn't count. Part time is anything under 36hours/week. If you are making less this year then last, sorry Charlie you can't use your bonus, over time, commissions, or second job to qualify. ASSETS give the banker asset info, exactly how much is in your checking TODAY, savings TODAY, retirement TODAY, etc. If you cant cash it out, it doesn't count. SORRY that's just how it is. YOUR PROPERTY In light of the recent market, ALMOST all of our homes are worth less then they were last year. SORRY the mortgage company wants your appraisal to come in high, if it doesn't they are just as mad as you are because they get paid for closing loans. Check your neighborhood, see what has sold, remember that Granite countertops DO NOT improve your appraisal, neither dose a finished basement, new hardwood floors etc. APPRAISERS don't care about upgrades. Sorry they just don't. So be cautious when you estimate your value. YOUR CREDIT if you have rough credit, be prepared for A LOT of work. It's tough for
Entity: Livonia, Michigan
80, Report #772688
Sep 03 2011
10:59 AM
quicken loans Travis McKinney Tell you anything then take your money Detroir, Michigan
They tell you your lone is approved for months then just before closing back out of their deals. After they spend your deposit and collect all your personal business.  Don't recommend them to anyone.  All they do is poke around in you credit reports and make your credit score go down.  Proems you the world and make things worse !Randal   Macomb, Mich
Entity: Detroir, Michigan
81, Report #462526
Jun 18 2009
08:14 AM
Quicken Loans Up front Deposit is not really a deposit Livonia Michigan
I recently contacted Quicken Loans in reference to refinancing an existing first and second mortgage. My wife and I were interested in taking advantage of low interest rates to consolidate the two loans and shorten our loan term from 30 years to 15 years. In order to accomplish this we needed a certain home value from the appraisal. The Quicken agent assured me that the appraisal would be fine and that I should go ahead and make a deposit to him to get the process started. I asked if the deposit was to cover any fees, such as appraisals and if the deposit was fully refundable if the loan did not go through for any reason. The agent assured me that the deposit was fully refundable if the loan did not go through for any reason. We made a $400 deposit to get started because the terms the agent quoted us were very good. Quicken contacted a local appraiser to perform the appraisal. The guy did not even measure the entire house when he was there. When the appraisal came back, our house had gone from 1756 square feet down to 1681 square feet. I say this because we have a tax assessor map that shows 1756 square feet and 3 other appraisals have been done previously showing the same amount. Since the appraisal was based on 75 fewer square feet than we have, the value of our house was less than it had to be for the loan to work out. I provided the tax assessor map that showed the square footage, yet Quicken did not do anything to correct the problem. Instead, they asked us to bring $6,000 to closing and we could proceed. We did not agree to bring several thousand dollars to closing so Quicken cancelled the loan. When we only got $13 of our deposit back, I talked with the agent and was told that was all we would be getting because the rest of the deposit paid the appraiser. I reminded the agent that he had told me the deposit was fully refundable. He told me that all calls are recorded and I should call client relations for them to investigate. Client relations mysteriously could not find the recording or a reason to give is our deposit back. I filed a claim with the Better Business Bureau in hopes of at least stopping this sort of bad business. Silvernickel Springfield, TennesseeU.S.A.
Entity: Livonia, Michigan
82, Report #454721
May 23 2009
12:35 PM
Quicken Loans Inc. Good Faith Rip Off Liviona Michigan
Quicken Loans charged me a $500.00 non-refundable good faith fee. I was looking into re-financing my home. Just before closing the deal they said they would have to charge me an additional $304.00 on top of the $7,000.00 they would make on re-fi fees and $500.00 good faith. I terminated buisness with them. They were very upset about losing my buisness. When they set you up with and account they have you give the first 5 digits of your SSN and zip code as a password. They then have you tell them the last 4 digits of SSN. They have you give them Credit Card numbers and the security number on back. My CC's have now been getting all kinds of fraudulent charges on them from right at the time I stopped doing buisness with Quicken. I have had to cancel all CC's, debit cards, set up security passwords on accounts and move things around so that Quicken doesn't have that info anymore. I have lost $500.00 due to their bad faith and now must deal with fraud reporting on every account. Ziggy51 Yuma, ArizonaU.S.A.
Entity: Liviona, Michigan
83, Report #452041
May 14 2009
08:14 PM
Quicken Loans apprased our home very low Oxford Ohio
We started with Wells Fargo two month ago there appraisal came in at $275,000 I thought since rates were going down I wouldn't try someone else. I picked Quicken Loans, they sent there appraiser out and he appraised our home for $250,000. At that point I called and contested there appraisal, and they agreed to send out someone else there second appraisal came in at $280,000 very close to Wells Fargo Our tax appraisal was at $269,500 Jeff from Quicken called me this evening and said they were using the lowest appraisal that the second appraiser did not use enough like homes (5 home sale) the first was the same number. So I guess I agree with Tracy this was a rip off and I like her want to get to the bottom of it. Doug Oxford, OhioU.S.A.
Entity: Oxford, Ohio, Nationwide
84, Report #454480
May 22 2009
12:54 PM
Quicken Loans no guarantee they will do what they say Internet
My husband and I are trying to buy a home and we have money for a down payment but not good credit so we have been contacted by Quickens Fresh Start Program. For $300 they will repair our credit and give us a loan for the home. Since the home comes with a truck we would need enough money to get the truck on the road so my husband would go from company driver to owner/operator and make more money. I was contacted by Zakk who sounded friendly enough but seemed to get irritated by my questions. Any way long story short, I asked Zakk for something in writing. He asked what exactly is it that I'm looking for. I explained to him that I needed something in writing stating that upon receipt of x amount of dollars from me Quicken would agree to do a,b,c in a specified amount of time and if a,b,c were not done I would be refunded within a specified amount of days. Zakk said he could send me something to my email, I explained to him that wasnt good enough I wanted something with a signature on it that gives me some legal recourse should this not work out. He said he would have to refer me to his manager. What??? No guarantee in writing???? Lea stateline, NevadaU.S.A.
Entity: Internet
85, Report #443786
Apr 15 2009
11:33 AM
Quicken Loans Do not Pay money upfront for starting the make homes affordable plan. Livonia Michigan
DO NOT PAY ANY UPFRONT MONEY to refinance your loan. The mortgage loan modification fraud and foreclosure rescue scams that threaten to hurt American homeowners and prevent them from getting the help they need during these challenging times is illegal! Any upfront fees charged by a company should be reported to the Federal Trade Commision and the State Banking and Mortgage lending for these activities. The FTC has a web site where you can file a complaint against individual who seem to want to profit from the people that are trying to apply for the make homes affordable plan. The FTC has a claim form with help in filing a complaint. I should have checked RIPoff first... I have filed a complaint against Quicken Loans and the have agreed to credit back my money to my account within 5-7 days. Help is available! Kathartis Gilbertsville, KentuckyU.S.A.
Entity: Livonia, Michigan
86, Report #814592
Dec 27 2011
08:17 PM
Quicken Loans Want to argue you into thinking others are rip offs Internet
12-13-11 Quicken loan rep called me back after sending a closing fee detail of my requested refinance since they didn't have the guts to send me a legititmate good faith estimate (Said only after you lock with us will we send you a GFE) and once I said we found a better deal of .50 % less interest, no points, $2400 less in closing fees and closing in 10 business days he began arguing with me of how there was no way someone else could offer that rate and how there was no way they could close that fast and how I am being lied too etc...etc...etc...I litterally had to hang up on him as he would't accept my response that this was true (which it is true since we closed 6 days after that).  But 2 day after that on the 13th another Quickloan rep calls me in response to our inquiry.  I told him not only have we already been contacted by Quicken (which was a total surprise to him...they dont even know who they have contacted yet) and he began asking for an opportunity for another set of eyes to look over our GFE (something they won't put into writting) just so we know we are getting the best deal.. Boy am I glad he's looking out for me!!!!  This company is big and does a lot of radio advertising, but they are out of thier league and giving you far from the best deal.  Shop around-a lot.
Entity: , Internet
87, Report #1021194
Feb 27 2013
04:41 PM
Quicken Loans Ready to close on my new house? Yep! Uhhh... wait... nope. JERKS. Internet
Quicken Loans. Engineered to amaze. Oh, yeah. Quicken Loans is amazing, all right. It's amazing they're still in business with the kind of crappy service they provide. Over 5 weeks into the process and every few days I'm told we're on track to close in another 3 weeks, then yesterday everything turned to a big steamy pile. Why? Because the processor kept asking for things I've already provided, and then asked for things he told me 5 weeks ago I didn't need (and can't get to now because it's in storage halfway across the country). So I'm supposed to be closing in 3 weeks and now I have to start completely over? I wouldn't recommend this outfit if it were the LAST place to get a loan, and I am going to post comments like this on every site I can find. I've already talked one couple out of calling Quicken, so let's see how much more business I can send somewhere else. Thanks for being giant douche bags, Quicken Loans.
Entity: Internet, Internet
88, Report #386615
Oct 31 2008
08:22 AM
Quicken Loans put us in a dead end loan Livoina Michigan
We did a refi last yr with quicken loans we had some debt and where looking for a 30 yr fixed. our loan officer desribed a loan product that sounded good at the time. a smart 7 yr fixed interest only loan and what i thought was a second fixed loan for 30 yrs (which turned out to be a open ended 30) with a balloon payment. I was told this gives you a chance to free up some money and pay down some done debt. come back and refi into a 30 yr fixed. I was concerned about paying over 12,000 to close and then having to pay more closing clost when we refi. again rest asure for our returning clients you'll never pay nearly that much again maybe 2000 at best, well a few months back when everything started to happen with the economy we knew we had to get out of this dangerous loan .I didnt care that we had more time befor an adjustment was made it will come. so when rates dropped to 5.50 we called even got locked in for 45 days but that the new loan would cost 14,900 to close. she said we have to pay points to get the better rate. we opted to go a little higher on the rate to avoid the costly points .our main objective was to get into a secure loan. the huge closing costs turned out to be the least of the problems. WE DONT QUALIFY FOR ANY PRODUCT based on my husbands income. how did we qualify for the last loan. They stated our income we provided w'2s and paystubs he gets pd biweekly .they doubled the amount he makes a month plus that second loan they did that money they out on the first loan in the asset colume to show liquid assets I only relized this when i went through all the docs to see why we are so far behind the eight ball here Yes we signed the closing docs but honestly I provided all the correct info to them and shouldnt of trusted them but we did and now they say sorry we have no record that you provided us with income and that we stated he made 6250 a month not the 3200 a month and also the 32000 they put as a checking acoount we had with them. she sai they didnt use that figure to qualify us so no harm done it was just put in the wrong colume, so I have a experation date on my loan then i'll have to move. I signed over my home is essentialy what i did. Im a fool I guess .I wasnt asking for a bailout. we pay our bills we have good credit I just wanted to be treated fairly. Bottom line i was told we lied not them and maybe in the future the stated income program will return .THANKS FOR TREATING ME LIKE A DUMMY once again. we all know those wont come back and they shouldnt. hope this doesnt happen to anyone else. take warning quicken loan doesnt care about your best interest they are a perfect example of corperate greed What a mess hamburg, New YorkU.S.A.
Entity: Livoina, Michigan
89, Report #983182
Dec 17 2012
09:04 AM
Quicken Loans They did not honor their no cost refi Internet
I had the exact same issue with Quicken.  Promised a NO COST refinance if rates dropped.  Refid 2x-both times charged normal refi fees.  I'm in for a class action if one ever comes about.
Entity: , Internet
90, Report #1015069
Feb 15 2013
05:45 PM
Quicken Loans False rundant representation abundant credit checks, poor service, failure to refund deposit Detroit, Michigan
Quicken Loans promises to complete a loan within 30 days. Here is our story. In March of 2012, we began refinancing our home with Quicken Loans. It is now February 2013, and we have yet to close. The reason isnt because we're not in a financial position to refinance our home. In fact, we have been approved for the loan.  It is because each time we get a call from Quicken Loans stating that all title work is done and were ready to close, there is additional information required by Quicken Loans. Additional information is required because original documents have expired. At this point, we have provided the following: 2 home pay offs 3 bank statements (and they want more) 6 Credit reports causing credit rating to go down 8 tax returns 5 pay stubs 2 sets of W-2s 11 re-disclosure packets 4 retirement account statements 3 certifications and authorizations Title work has been completed four times At this point, we have talked to 15 different account care specialist and other staff,yet the process continues. To add insult to injury, Quicken Loans is now claiming we will not be refunded the $500.00 we submitted to start the refinancing process. It is unclear how a person can be approved for a home refinance, submit all necessary documents, and in many case more than once, and still not receive a loan. Quicken Loans approved us for the loan, ensured us that we qualified for the loan, and continues with their deceitful lending practices.
Entity: Detroit, Michigan
91, Report #1053610
May 24 2013
11:52 AM
Quicken Loans Won't refund my extra month's payment after a re-finance! Detroit Michigan
Be Ready to not refinance if you are a Quicken Customer! Quicken is a great company while you are their customer. Once you refinance, you are at Lord's mercy. After having quicken as my mortgage company for a year, I decided to refinance. My escrow company paid off the loan in full. However, I had an automatic monthly payment set up for Quicken mortgage payments and that withdrew an extra's month's worth of mortgage payment (Over and above the payoff amount). I called Quicken and asked them to refund that the next day of this extra payment. This is what they said - We take up to 3 weeks to settle your closed loan and send any applicable refund. I tried explaining to them how this extra payment was NOT part of the escrow settlement and should be refunded promptly. But to no avail Now 3 weeks have passed. They sent me the settlement check but still no refund for the extra month's payment. I called again yesterday and was told to wait till the end of this month before I will hear back from them. Really??? Is this how you will treat your ex-customers? Do you think pissing them off and giving financial hardships is good business practice? I don't think so! So beware! They are good mortgage company as long as you are their current customer. Once you refinance and leave them, you are on your own!
Entity: Detroit, Michigan
92, Report #1058447
Jun 11 2013
09:42 PM
quicken loans misleading information damaging my credit score Livonia Michigan
this company is not seriousemployees on the phone talking like machines emphasizing JD Power service awards when I was never given a survey it is all bullI gave my detailed info to an agent Amber and she came to the conslusion that it was not worthwile refinancingShe assured me that she was the main contact for this dealThe following other agents kept calling me and harrassing me on the job not even asking me if i would have time since i was at work they are just going for commission they do not care about youThe new agents gave me the illusion that i could go another route to lower my mortgage rate presently 30 yrs at 4.25 %They wanted to shorten it to 3% for 10 years fixed and than it could go up maximum 5 points that basically means it would more than double my mortgage if rates are going up and they will eventually.What i did not like that the first agent Amber did not forward the basic info i gave her with lots of effort researching and time involved.So the other agent did ask me the same questions again. the left does not know what the right is doing.So how can they call as a special team when they do not have the info from the first team. They are just hustling for commission. The second one insisted to give her the social security number to look up what kind of a loan i had when the type of loan was already resarched the first time by Amber without calling up the Soc. Sec. Nr which takes points of my score. Was totally unnecessary, could have looked up my public record in my county.They are a bunch of young agressive kids hustling for commission.The second one from the Special team had nothing new to say and when i got upset a supervisor steped in that means she was listening througout the conversation which i did not appreciate for telling me upfront.A very mysterious company promissing you the paradise which does not exist. Be aware of these agressive agents who do not care about your future but rather of their instant commission 
Entity: Livonia, Michigan
93, Report #1069295
Jul 23 2013
11:16 AM
Quicken Loans Refinance Loan - Terrible Experience www.quickenloans.com quickenloans.co
 We decided to approach Quicken Loans to get a mortgage on the house that we live in. The title at the time was free and clear in my parents name and was paid for by a second mortgage on their home. We make the payments on the second mortgage. We were asking to borrow about 35% of the home's appraisal value to pay off the second mortgage. Our credit is excellent.We explain our situation to QL and they recommend a refinance loan. They instruct us to have a new deed drawn up and filed with the courthouse in our names. We proceed in doing this, pay the lawyer fees and file the deed.We complete all tasks assigned by QL and follow their instructions step by step. It takes 3 months for QL to get us to the point of closing on our loan. About 3 days before we can close, I am contacting by a Solutions Consultant who informs me that we are not eligible for a refinance loan because our names have been on the deed for less than 6 months. I ask if we can move forward with our original plan which was a traditional mortgage and 'buy' the house from my parents. QL states that we are ineligible for a traditional mortgage because our names are currently on the deed!!!I had to deal with 10 different representatives with QL over the 3 month period. Had the loan went off perfectly, I would have given them 3 out of 5 stars because I still found them difficult to deal with. They would constantly send emails about paperwork that they had previously received. They would call 4 or 5 times a week to have things refaxed or filled out again. The representatives were often rude and condescending. The entire process was painful and complicated.At NO POINT in the entire 3 month period did any of the 10 representatives EVER mention that we were not eligible for the loan. We were explicitly told to take these steps and it was these instructions that disqualified us from the refinance.It took 2 weeks of arguing with QL to even receive my $500 deposit back.I would not return to Quicken Loans under any circumstance ever. Quicken Loans is a complete waste of time, energy, and money. I recommend looking anywhere else for a loan. 
Entity: www.quickenloans.com, Select State/Province
94, Report #1080716
Aug 31 2013
09:19 AM
Quicken Loans Delay, Delay, Delay -- then no loan! Detroit Michigan
How Quicken Loans warrants a top rating from J D Powers is a complete mystery. Must be something a company can purchase.My problem mirrors that of so many others: An endless stream of requests for more and more information and documents until the contract period (plus an extension in my case) at last expires. They take your money for application fees, then drag out the process until it dies out.A truly unprofessional company. Several people in the know advised me after the fact: Find yourself a local vendor and avoid these internet mortgage loan scammers.
Entity: Detroit , Michigan
95, Report #1088927
Oct 02 2013
12:26 PM
Quicken Loans No out of pocket? SURPRISE, Gimme your $500 Good Faith Deposit Detroit Michigan
I was in an online chat with a loan agent out of Quicken Loans' Arizona office.  We led the conversation with:   [Agent's Name]:  Please share with [my name].. what would you like to accomplish with your refinance? [My Name]:  I am looking to lower my monthly payment, get rid of PMI, not pay anything out of pocket and have a few bucks at the end. You know, all the good stuff. [Agent's Name]:  Absolutely! [Agent's Name]:  We will towards this today for you.     We then spent about an hour going over the details of my refi, credit, financials, etc.  I expressed my concerns about closing costs and she assured me there were none, that they were giving me a discount and that the remainder would be folded into the loan.  She also spent lots of time saying how qualified she was, how she was president's club, that Quicken ranked first in JD Power and Associates and that she's all about being up front and honest; basically why I should implicitly trust her and Quicken Loans.   Then at the end of this very long process and coming up with a loan solution that I felt good about, the canned message shows up.   [My Name]:  I want to move forward, BUT I'm about to sit down to tacos with my kids. [Agent's Name]:  aww. its easy to proceed. [My Name]:  So, how do we proceed later or tomorrow? [Agent's Name]:  I can secure this for you now, and we can go through your documentation tomorrow. [Agent's Name]:  There are no out of pocket expenses for you to refinance with us here at Quicken Loans- upon application we do accept a deposit in the amount of $500 to cover the costs of your out of pocket expenses, including your appraisal, up front. Then we apply that back to you at the closing table. It isn't a fee- it's just used for out of pocket expenses. Naturally, if we cannot get you initially approved based on the information you have provided me, then we do not charge you the deposit. I lock your rate and send you all the documents in black and white...We take Visa, Mastercard, Discover, Amex... [My Name]:  Can you explain that? [My Name]:  I need zero out of pocket, period. [My Name]:  No deposit, no credit back at closing. Nothing. [Agent's Name]:  Yes, to secure the loan and move forward we accept a commitment from you in the form of a good faith deposit. This helps cover the appraisal upfront. [Agent's Name]:  Once the loan closes, we reimburse backs towards the closing costs. [My Name]:  Welp, it'll need to wait then. [Agent's Name]:  Okay, [My Name]:  Caught me at a bad time. Not about to but another $500 on credit. Seems odd that a loan company would encourage that. [Agent's Name]:  It's actually quite standard. Last year we closed 70 billion in mortgages, so people are accepting of this. [My Name]:  That's okay. You found the one in 70 million that won't. [Agent's Name]:  I am sorry to hear that [My Name], but there needs to be a way to pay the appraiser. [My Name]:  Just doesn't work for me, right now. Doesn't matter what the guy next door does. [My Name]:  They do not cost $500 [Agent's Name]:  I am showing appraisal costs in your area are close to $460. [Agent's Name]:  [My Name], I am here to help you. When we secure a loan, this is part of our process. [Agent's Name]:  I am sorry if I caused any frustration. I was only trying to help. [My Name]:  Well, I started this very long conversation about me not wanting any out of pocket. [My Name]:  Maybe I wasn't clear [My Name]:  So anyway...thanks for the help. [Agent's Name]:  I am looking back at our conversation, and there was no mention. [My Name]:  Let me refresh you [My Name]:  [My Name]: I am looking to lower my monthly payment, get rid of PMI, not pay anything out of pocket and have a few bucks at the end. You know, all the good stuff. [Agent's Name]:  Usually my clients still us the deposit and bring $0 to close. [Agent's Name]:  I am sorry if I misunderstood. T [My Name]:  Me too   I have some issues with my experience:   1. The canned message says that there are no out of pocket expenses, yet requires a deposit to cover out of pocket expenses.  This is deceptive.  Does the deposit come out of my pocket?  Yes it does.  Just calling something different does not change what it is: an out of pocket expense.  Even if it were returned or reimbursed to me 5 minutes later, it had to come out of my pocket first and therefore by definition is an out of pocket expense. 2. The agent spent an outsize amount of time generating rapport and trust with me.  Though she made NO mention of the deposit until the very end.  If not a ripoff, most definitely a waste of my time. 3. The agent also included scare tactics like this in the midst of the conversation: [Agent's Name]:  Before I spoke with my director I was about to let you know the rate was 5.125-5.25% with 4900 in costs. Your credit score causes some large adjustments. Most lenders right would not offer 4.75% fixed for only $3,900 in costs. Because the market has gone up over the past 2-3 months. We saw really slightly dip end of last week, but the market is very volatile right now. [My Name]:  Right. I believe it to be trending upwards. [Agent's Name]:  If your score drops anymore for any reason... [My Name]:  It won't. [Agent's Name]:  you might not even be able to qualify for refinance.   Bottom line: Beware of Quicken Loans.  The phrase No out of pocket expenses means something different to them than it does the entire rest of the universe. If they are willing to deceive about a $500 deposit, then I'm not interested in going any further.  Their loan terms are indeed attractive and their size/heft allows them to offer programs that a lot of other lenders simply can't.  However, Lenders don't get giant and huge by not closing deals.  They will seduce you.  They will make you trust them.  They will make you feel like an outcast for having a problem with something when a bajillion other customers are just fine with it. If you choose to do business with them, maintain a skeptical eye. 
Entity: Detroit, Michigan
96, Report #1144256
May 05 2014
05:03 PM
Quicken Loans lowballed my house with TSI appraisal. improper comps causing undervalue to my home Michigan
I have had the same problem with Quicken Loans using TSI appraiser. I was asked to put up deposit money to pay for the appraiser, and that I would get it back at closing. However, I did not anticipate the appraiser lowballing my house! I looked at the report to find out that the comps used were nothing like my house. I have a colonial style house and he used two ranch style homes with square footage that was significantly lower than my home. One ranch home was 1414 sq. feet and my home is  over 2,000 sq. feet. I asked him why he did not use homes similar to mine, and he stated that the lender wanted him to use properties that soldin the last 90 days. I asked him why he didn't go outside my neighborhood to get a better comparison, and he stated again that he was doing what the lender wanted.I was told with the new laws that lender and appraisers are not to communicate, but I am thinking that something fishy is going on and I chose to cancel my refi.I put a lot of hard work and money into my house to have an appraiser lowball it 14,000 less than I paid for it!MY house could sell for more than I paid for and I even sent comps from other companies for proof, but Quicken says they can not do anything and the appraiser said he has to go by recent sales even if the comps are not like my house!Totally wrong!
Entity: Michigan
97, Report #1192423
Dec 01 2014
09:48 PM
Quicken Loans Beat your current Mortgage Offer OR PAY YOU $250 FRAUD Nationwide
We recieved a solicitation on Saturday stating WE WILL BEAT YOUR CURRENT MORTGAGE OFFER OR PAY YOU $250. We contacted them that day for the paperwork to fill out since we just secured a loan APR4.125% from CashCall which beat their advertisied rate of 4.220% APR. This was their reply...we never started the loan process with you so we did not reach the requirements. With a 2 day turn around and no paperwork from them, and proof we had their rate allready beat proves this advertising piece was nothing but a scam.
Entity: Nationwide
98, Report #1139103
Apr 15 2014
11:55 PM
Quicken Loans, Inc. Engineered to Rip You Off. Nationwide
I was applying for refinancing with Quicken Loans, Inc via HARP on-line to reduce my mortgage rate and thus lower my monthly mortgage payment.Quicken Loans, Inc. has incompetent employees from top to bottom.  This is probably established purposely.  They will lure you in with their very attractive and convincing initial Good Faith Estimate they called Here's How Your Number Works.  The Good Faith Estimate is given to their clients after the initial screening, and taking the credit score, technique of winning your interest.  They will then instruct their client to registered on-line (MyQL.com) for monitoring the progress of your loan purposes.  Then, somebody will call you from other state to let you know they need more documents.  After the second contact, they will tell the client the loan is close to closing.  They will review your documents and after a day or two, they will tell you Your loan is approved with some condition.  At this point, the second Good Faith Estimate will be different from the first one.  This time, the estimate will be bit different from the first and will be to their favor but still acceptable.  This is when they will asked you for a deposit to perfrom an appraisal on your property.  In my case it was $500.00.  A TSI (Title Source, Inc) will contact you to perfrom an appraisal.  Beware of TSI and Quicken Loans, Inc.  TSI will give you a inaccurate appraisal for Quicken Loans to have an excuse to change the Good Faith Estimate.  In my case, the living space square footage was incorrect, and the cost per square footage was no where near their given comparables.  I questioned TSI about these concerns and I was told to take it up to Quicken Loans.  It is now finger pointing.  At the same time, the Good Faith Estimate for you to review on the MyQL.com will really be against you.  A large amount of cash will be required upon closing.  From the first Estimate of getting a couple hundred back, to second Estimate of a couple of hundred dollars required in closing, to third Estimate of almost $10,000 is required upon closing in my case.I questioned all these shady procedures.  Since, I found a holes on their TSI appraisal and raised hell about it, this time a Solution Consultant department from another state contacted me.  Now, the issue is not the appraisal but something else why  I can't go through closing, they said.  This time they said, the subject property for refinancing was found by TSI to be in an Active 55 year old Community Development.  I was told, For them to continue with the loan process, I should be occupying the property physically.  They also said, it is against the federal law for them to approved my loan if not I am living in the property.  Except for not living in my property and classified it as investment property which I was asked and I answered, This federal law, if there was such a law, was not revealed or asked from me during the INITIAL screening and during the exchanges of documents for at least a couple of weeks.  It was only revealed to me after they got my $500.00 deposit for appraisal.I disputed it, and requested for my full deposit back.  The QLI Solution Consultant did not agree for all my deposit back but instead willing to split my deposit since they claimed they paid more than $500.oo on appraisal.  Since, they were holding my monies as hostage, I then agreed with the condition to include such questionaire during the initial screening to prevent such occurence of happening again.  I doubt it if they will include such questionare.In summary, Quicken Loans, Inc. is a WANNA BE ENGINEERED TO AMAZE company.  They are out there to get your money, small or large amount.  The client contact were so many and very confusing.  I should be entiitled for full refund of my deposit because I was not asked as to my property in a Active 55 year old Community Development.  TSI is another fraud out there, too.  These two company were working hand-in-hand for one goal, get your money to their favor.   
Entity: Nationwide
99, Report #1160199
Jul 07 2014
04:04 PM
quicken loans $500.00 was to be returned and was not rturned. detroit Nationwide, Michigan
 The persons I talked with and, gave the same information to were about twelve (12) people. $500 (five hundred dollars) was to be returned and was not returned
Entity: Nationwide
100, Report #1324591
Aug 25 2016
01:26 PM
Quicken Loans Your Good Faith Deposit is actually a Fee for doing business! Nationwide
We refinanced using Quicken Loans several Years ago and were very happy with the results. So, as the Mortgage interest rates dropped we thought we'd check them out again. When we first spoke to an Agent we were very clear that we would only be interested in refinancing if we could save money on payments each month. We were not interested in borrowing any additional money or bringing any money to the table. She was seemingly very helpful and things proceeded. We have very good credit, in the Very Good range. We were surprised the process seemed to take a lot longer than the last time but didn't have any obvious Red Flags. The agents kept switching around as we progressed, and at one point we were asked to put up a $500.00 Good Faith deposit to hold our rate. Again we waited and were then told they would send out an appraiser. Then our latest Agent came back to us and said we would need to bring $1200.00 to closing in addition to the $500.00 they already had. And their offer was for a loan that only saved us 3/4 of a point and ballooned in 5 years (my current loan is fixed). We were very confused and stated as much, as our home (per Zillow and comparable homes currently sold in our neighborhood are around $90-100,000 more than we owe). They assured us that was The best they could do. I reminded the Agent that per our previous conversations we weren't interested in spending any more money and so we weren't interested. Come to find out they were keeping our $500.00 Good Faith deposit.... At no time during the conversations with their many Agents did anyone ever say that Good Faith deposit was their FEE for doing business. We would have never continued with the process if that was ever made clear. I spoke to upper Management too trying to get them to return our deposit to no avail. Quicken Loans is NOT what they were several years ago. They ripped us off!!! DO NOT FALL FOR THIS!!!
Entity: Nationwide

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