QUICKEN LOANS Ripoff Reports, Complaints, Reviews, Scams, Lawsuits and Frauds Reported

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51, Report #1317584
Jul 18 2016
03:06 PM
Quicken Loans Sold mortgage Detroit Michigan
I currently have my mortgage through Quicken loans.  I have been a customer for tears.  I received a letter in the mail (7/18/2016) stating that my mortgage has been sold to Fifth Third Band.  Remember Fifth Third Bank used to be GMAC General Finance until it went belly up.  Well, it states that my next mortgage is due with this bank on 8/1/2016.  That's 2 weeks from now.  I have no new loan number to tie a payment too.  2 weeks, get real.  VERY disappointed with Quicken.  Used to be a big fan of them.  No longer.
Entity: Detroit, Michigan
52, Report #1328276
Sep 15 2016
07:51 AM
Quicken Loans Bait and switch Detroit Michigan
As a Veteran I was looking to lower my Mortgage interest rate and Quicken Loans told me 3.25 was the best and a no Brainer. My Credit score is in the Seven Hundreds and wife in eight hundreds. So i continued to send them my info. in about two days per fax and was set in about a week. They told me the VA wanted my Well Water checked and I did so. It came back with no ecoli but coliform was present and they said get it retested and repaired. The Doctor who tested it said it was ok. But I bleached my well and had it retested and its now 0 0 on both sides. Anyone who has a well knows they have to bleach their well every year and may be two. I was told that I would have the same operator all the time and that changed on the next day. Then someone else and then someone else. I also noticed each day I checked in they would have that their sleeves are rolled up and working on my morgage and they were not. One day they said they were working on updating my Insurance and that was a lie too. That had been done and faxed to them two days prior for my insurance man called me. They lie and deceive you trying to keep you strung along till their underwriters decide to work on your case. I asked for the proof the Veterans admin. was holding my loan up and they refused to give it. So it wasnt the Veterans it was quicken Loans holding me up. I told them that if I had bad water do you think I would live here or even been able to buy this house as a Veteran. They are not very intellegent. Even the Doctor who did my water said no further testing required but said it would help to bleech well over night as I did. I knew what to do I just hadnt .So if your looking for loans or to refinance make sure you do your home work because this company in my opinion is a scam and I hope they havent damaged my Credit score . Do not give them money up front. I asked for my apprasial and she told me to get it off the internet. By law I am intitled to a copy from the firm I paid four Hundred dollars to. WATCH OUT ! USMC Veteran 1970
Entity: Detroit, Michigan
53, Report #1376581
Jun 01 2017
01:48 PM
Quicken Loans Very Unethical Detroit Nationwide
I feel that I was scammed by Quicken Loans. I tried to resolve it through Consumer Finance.gov and through my credit card company Capital One. I had no success. I want to warn others to be careful before handing over $500 to Quicken Loans. Think twice. Don't let them pressure you with promises that seem to good to be true. Quicken CANNOT wave a major wand and get you Loans that all the other companies can't.  Quicken Loans was apparently able to provide documents to satisfy the Consumer Finance agency and my credit card company that they were in the right when they scammed me out of a $500 deposit. Unfortunately, most of the Quicken practices that seem to me, in hindsight, highly unethical and reeking of scam, took place over the phone. Quicken quite conveniently lost all of those calls (but states we record all of our calls). Don't get taken by this company like I was. $500 is a lot of money to lose for most people. If you are inexperienced like I was with the mortgage/home equity/refinance process, don't hand over $500 to some fast talking Quicken representative. Remember that if it sounds too good to be true...Talk to other mortgage lender first. Most will give you honest answers on what you qualify for, for free. You don't have to hand over $500 to apply for refinance etc. with most companies. Quicken will tell you that your $500 is an investment that will be returned to you. They vaguely allude to being able to do things other lenders can't. Baloney. Don't get sucked in. I came out of my experience with Quicken feeling like a fool and his money are soon parted. Best I can hope to do is help someone else not to make the same mistake, and try to turn this horrible experience into something positive for others
Entity: Nationwide
54, Report #1377996
Jun 09 2017
06:47 AM
Quicken Loans Do NOT Give this Company $500 Nationwide
I had a terrible experience with Quicken Loans and was scammed out of $500.  This was such a hardship to me and to my family that I am making it my mission in life to help others to avoid this same hardship.I have already posted the details of my experience with Quicken Loans on as many complaints websites as possible.I am taking the time now to also warn others, who may be attempting to find unbiased reviews of Quicken Loans online, that the following online complaints and reviews websites DID NOT publish my negative review of Quicken Loans after I'd submitted this negative review of Quicken Loans: ConsumerAffiars.comCreditKarma.comBetter Business Bureau (www.BBB.org)nerdwallet.comLending Tree Do NOT trust the reviews you read on the above mentioned websites.  These are not unbiased review websites.  These websites will weed out a negative review, or simply refuse to accept a 1 star review. Addionally, I reached out to the following companies for assistance in recovering my $500 loss from Quicken Loans, and was not able to resolve the sitation:consumerfinance.govCapitalOne credit cardsQuicken Loans does most of it lying over the phone, then loses its supposedly recorded calls.  You will not have a leg to stand on and can't get any help through the government or your credit card company.  There is no reason to give Quicken Loans $500 to apply for home financing.  Everyone else will take your application for free, and give you honest answers. Quicken will promise the moon, because you handed them $500 all the risk of their lies is yours.  This is a scam, and some of the complaints and reviews websites are in on it
Entity: Nationwide
55, Report #1384075
Jul 08 2017
06:08 PM
Quicken Loans The other reviews are true...Stay Away!! Nationwide
I don't usually write reviews, but i wanted to warn everyone about Quicken Loans. I put in some information online for mortgage rates and was contacted immediately by Quicken Loans. They were persistent and slick talking. They said I only qualified for an FHA loan, with no explanation. After some reluctance, I gave them my credit card number to order an appraisal (We really needed this refinance to pay off some debts and lower our payments). A day or so later, I received some loan documents via e-mail and realized both the interest rate and fees were much higher than previously stated. Then I started reading reviews about them, and found out this is an on-going theme with Quicken. I immediately called them and asked them to cancel the appraisal, and to give me a refund. At first, they told me that the amount i had paid was a non refundable deposit and they could not give my money back. I told them that was not acceptable. My husband and I are retired and on a fixed income, so we really needed that money back. Around that time, I was contacted by another lender, who also explained to me that he has had a lot of customers that had similar experiences with Quicken, and told me what I needed to do to get my money back (talk to a manager and threaten to file complaints as a last resort). After 3-4 weeks, I finally got my appraisal money back. Luckily for me, my new lender paid for my appraisal themselves and their loan was ready to close without having to wait for Quicken's refund. The new lender explained everything to me, answered any questions I had, and was very patient and knowledgeable. I ended up with loan at a great interest rate, paying off all of the debts I needed, very low closing costs, and a low monthly payment. My advice: Stay away from Quicken Loans, there are much better lenders out there. In case anyone wants to know, the lender I refinanced with was First Integrity in Orange County, CA and my loan officer was Sam Pabuwal. Contact information is 949-200-7018 and sam@firstintegrity.us  
Entity: Nationwide
56, Report #338012
Jun 07 2008
09:16 AM
Quicken Loans Careers at Quicken Loans With Job Security Livonia Michigan
Malachai mentioned the IT department as a good place to work at Quicken. As much as this place sucked to work at, the Technology was second to none. But the most growth within the company has to be in the legal department. Lots of lawyers and assistants are needed to defend Quicken from all of its antics and abuses. It is like being Tony Sopranos attorney, there will always be lots of work. Something else I wanted to share about Gilbert, when I talked to the reporter from the Detroit Free Press about Gilbert during the interview for the article, he stated that Gilbert was abrasive and difficult. He did say Emerson spoke professionally during his lies. Do even you Quicken cheerleaders deny that there were no more Opportunity Letters given out during July and August last year than any other period. I know on my team, nobody got a letter the entire year, then over 3/4 got a letter during those 2 months. Just like Malachai stated, they pay the least amount possible trying to keep as many slaves in the cubicles as needed. When the market dips, instead of laying off as legit companies do, they make life hell and fire and/or force people to quit. I hate Quicken for the way they try to ruin lives for a buck. Scum! TheTruth also stated he doesn't care if we win our lawsuit since it won't affect him. Truth, remember, you are their piss boy (bottom of the pyramid), you will pay for the costs of the lawsuit, not Gilbert or his top cronies. Steven Sagamore Hills, OhioU.S.A.
Entity: Livonia, Michigan
57, Report #259931
Jul 10 2007
01:34 PM
Quicken Loans Adding Another Tale to the Quicken Loans Victims Detroit Michigan
Well along with many of you I too used Quicken Loans when loan shopping. They weren't able to offer me the best loan as they would probably like you to believe. My personal opinion of the people I worked with is somewhat bullieish and a little to over aggressive. In fact I filed a report with the BBB about them. The worked on this loan for about a day and a half before I told them that I would like to use another lender. I gave them a chance to compete but (I'll affectionately call the people I worked with henchman 1 and henchman 2) henchman 2 called me and told me why I was all wrong about the numbers I was recieving from thier competitors. Then he procedeeded to tell me that if I'm the type of person that likes using people who lie to me that Quicken is not the place for me to be. This was right after henchman 1 told me how hard he had worked on this loan in the last day and a half and how pissed off he was that I decided not to use him. What a crock huh? Well I'm not done. The next day henchman 1 calls me and says hey we can only refund you half of your money because of underwriting fees. So I say underwriting fees huh? Well thats fine but can you send me a receipt or invoice about these mysterious underwriting fees. I mean how in less than a day and a half were you even able to underwrite a loan. He says well we did it because we're Quicken Loans you know and we're not the loan people for you since you want to use a subpar company. In fact if you want to use us for this loan you won't be able to anymore. So I'm thinking well duh of course I don't want to use you for this loan. I've only sent you guys three to four e-mails telling you all the reason's why and all my complaints I have for you. Then he says well I'm not the accounting department I can't provide you any proof as to where this money is going. Then I said well if your not the accounting guy why did henchman 1 who does the same thing you do even take my financial info in the first place. You should have had the accounting guy do it. He says well you like to use companies who lie to you instead of us. I can send you to our client service department and if you want to know why we're not giving you back the money you ask them where it is. I said well you keeping the money isn't as big a deal as you not telling me why or where the money is going other than some words you're just deciding to sell me. So just give me an e-mail or anything saying we needed $200 dollars so that we can pay our own underwriters for underwriting the loan in less than six hours. Which by the way is incredibly fast. In fact almost impossible. Thats all I want. Heck. I would have even accepted a voice mail. So when I told the other henchman about my concerns he sends me an e-mail telling me how hard he worked on the loan but says nothing about my money. Could it be that these people were so insulted that another company beat their oh so incredible rates that they just want to keep my money for fun. Beware of companies that use overaggressive people just looking to make a buck for ice cream after work or whatever it is they do in Michagan. Never give a deposit to anybody saying they'll do a loan for you. There are millions of banks and brokerages out there that will process a loan free of charge until closing. You know. When the job is done like all the rest of America gets paid. By the way I have more details and names for anybody who needs them. I'll tell you who to be aware of. Ticked Middletown, OhioU.S.A.
Entity: Detroit, Michigan
58, Report #227010
Dec 24 2006
08:27 AM
Quicken Loans Quicken Loans - Lost $500.00 - High Pressure Troy Michigan
Several months ago, I was feeling the pressure of accumulated credit card debt (yes, totally my fault),so I started the process of refinancing my home to consolidate this debt and start fresh. The first company I dealt with was Quicken Loans. The young woman I spoke with was very friendly and helpful. I explained my situation - that I had accrued some debt and was looking for a reasonable monthly payments based on my income. She brought up the $500.00 Good Faith Deposit, and immediately sent an estimate for me to review and, if interested, give electronic signature to start process. The rate and monthly payment looked reasonable, so I signed away. Well, to make a long story short the initial monthly payment quoted on the good faith estimate seemed to jumped up quite a bit after signing it, so I decided to shop around a bit to see if I could get a lower rate. I realize I agreed to the $500.00 deposit (something I really could not afford but put on my credit card.... which I was trying to avoid) but the only thing I got was the good faith estimate emailed. There was no appraisal done. When I called to say that I decided to look at a few other lenders the woman would not take no for an answer...I almost hung up on her. Anyway, I ended up with another lender that did indeed give me a better rate, lower monthly payment, no deposits, no hidden charges, and above all, no hard sell. Just a cautionary note to those who may need it. First of all -the obvious - don't fall into debt. Second, if you are working with a lender, don't pay for anything upfront that won't be refunded. Don't sign anything without reading and asking questions. Shop around. Don't let any desperation you may be feeling make you fall for the first hard sell. Therese Portage, MichiganU.S.A.
Entity: Troy, Michigan
59, Report #827909
Jan 24 2012
02:42 PM
Quicken Loans Quicken Loans is a group of clueless bureaucrats Southfield, Michigan
I made a mistake of applying to refinance my existing mortgage to a lower interest rate with Quicken Loans.It was supposed to be a streamline refinance, which required a minimum of paperwork and no income verification. I was asked to pay $400.00 Good Faith Deposit and was told that this process should not take more than 3 weeks. Also the quicken rep told me that after the loan is closed all of the $400.00 paid will be applied to my new escrow account. Four weeks later I called Quicken to see what was the holdup with my loan. Their answer was that my income is not sufficient to approve my new loan.#1. My income was not even to be verified in accordance with the streamline guidelines.#2.I have been paying my current mortgage for years with an APR higher than what was offered by Quicken and have never been late.#3. Why it took them a month to figure out a simple thing and let me know about this issue?The answer is very obvious. While I was sucked in this scam, Quicken had used my money for their activities for 5weeks now. Today I was told that they are unable to close this deal and I will get my GFD back within 10 business days minus my credit report fee. Well, this is to the Quicken Loans gang members:I will call the Bank and stop the payment on my credit card that was used to pay $400.00.You people are going to have to eat the credit report fee, since you did not do your job (or are unable to do your job). Also, I am not waiting for 10 business days to get my money back.I really hope that this information will get to the CEO of Quicken Loans and the action will be taken to get rid of the clueless employees.
Entity: Southfield, Michigan
60, Report #920300
Jul 31 2012
11:51 AM
Quicken Loans HOW TO GET YOUR MONEY BACK FROM QUICKEN LOANS Internet
for all of you that got screwed by quicken loans.  go to the BBB and submit a complaint.  you will hear from a representive within a day or 2.  they will offer your money back to resolve the issue with the BBB.  this is done so that they can keep their A (what a load of crap) rating with the BBB.  not going to lie, I took the money and resolved the issue with the BBB.  but if everyone does this, not only will you get your money back, eventually the BBB will drop them.
Entity: , Internet
61, Report #803097
Nov 29 2011
09:53 PM
Quicken Loans Quicken Loans makes a significant portion of their profit by scamming customers Detroit, Michigan
Quicken Loans is a company that specializes in deceiving and confusing customers; extorting deposits and switching terms once customers are financially committed. Dealing with mortgage bankers of Quicken Loans is like dealing with used car salesmen. I was offered a rate that would save me a couple hundred dollars off my monthly payment; they assumed lowered closing costs through CEMA program (that is expected to reduce mortgage tax). When I got better rate from another company they offered to match it. They did not post the actual matched numbers until the appraisal was done. Quicken Loans were unable to obtain the loan with the lower closing costs so they switched terms to a more expensive loan (higher taxes) without even telling me. There was always a delay in posting documentation; they would not respond to e-mail but insist of phone calls. In phone conversation they would switch subjects, be pushy, vague and unclear. All attempts to convince them to refund my good faith deposit were unsuccessful. I fired Quicken Loans as the bank for my refinancing because the modified terms of the loan were no better than my existing loans yet they recorded the cancellation of the loan process as a denial with the reason of insufficient funds for closing. All requests to have these facts corrected were disregarded by Quicken Loans. Anybody dealing with Quicken Loans have to be prepared to go to court. I will advise as many people as I can to not have any business with this company.
Entity: Detroit, Michigan
62, Report #1065199
Jul 08 2013
10:08 AM
Quicken Loans DO NOT use Quicken Loans - they are a fraud! Internet
Do not use Quicken Loans.   I contacted them regarding a refinance on my current property.  The company is a mortgage warehouse.   During my initial experience, the company seemed great.   Quick service, good on line tools, promises of rate reductions should rates improve, etc.  I have stellar credit, a good paying job, and a home that I have build equity in.  I have never in my life been denied any kind of loan - until now.   The issue with them is the outside contractors they use to do their appraisals.  Their appraisers will grossly undervalue your home.   At which time Quicken will tell you that your loan to value ratio will not allow them to offer you a loan.   At this point, your $500 application fee will be almost completely used up to cover the cost of your credit reports, appraisal, etc.  I live in the Northeast and home values here have not slipped as much as in other areas.  We've had 2 other separate appraisals on our property which game in 30%-35% higher than the Quicken appraisers.   I went with a local bank, got my refinance and paid a lower application fee to boot.   Quicken Loans investigated the discrepancy, however, in the end I wound up out over $350 and did nothing but waste my time. I would recommend using a trusted local or regional bank.   You'll get better service, especially if you can actually sit down in front of the person.
Entity: Internet
63, Report #1277849
Jan 04 2016
10:58 AM
Quicken Loans Quicken Loans are predatory lenders Detroit, MI Nationwide
 I was contacted by Quicken Loans in January, 2015 to apply for a loan.  I was approved immediately and then the fun started.  I paid them 500.00 in earnest money.  I had some issues with my home.  I did all the repairs to the tune of 3,000.00.  I faxed countless documents to them and it was never enough.  I am a senior citizen living on Social Security and it put me in a bad financial hardship.  In July, 2015 they denied my loan saying that my income was not sufficient.  My income is the same as when I first applied. I am a senior citizen living on nothing but Social Security.  I have had a mortgage for the past 25 years and have never been late on a payment.  My credit score is 715.  This whole process has put me in a bad financial bind.  I had to put 3500.00 for the deposit and repairs on a credit card and now I am struggling just to pay it.  BTW, I never got my 500.00 deposit back. I have NEVER heard of Quicken Loans ever giving back anyone's deposit.  If they did this to 1000 people (which they probably do in a month) their income from deposits would be 500,000.00.  To this just pocket change.
Entity: Nationwide
64, Report #1379267
Jun 15 2017
08:54 AM
Quicken Loans Rip-off $500 charge just for applying with Quicken Loans!?&! Detroit Michigan
Misrepresentation by Quicken LoansAfter months of trying to get refinanced by Quicken Loans I was forced into a house appraisal by QL.  They told me I could not obtain refinancing until I paid $500. for an appraisal.  After the appraisal QL said I did not qualify, but kept the $500!  Therefore, by contacting them online from an online advertisement, it cost me $500 just to be rejected.  The man who really messed this up and who was never straight was Michael McLure.  His associate was Sam Assad who at least was nice while taking me for 500 bucks.  Understand that these fellows had all my credit and financial info BEFORE the housing appraisal  so they could have been professional and have told me that chances were good that I would NOT be successful in obtaining a refinance.  But no, they took me for $500.  They also managed to mess up my credit score which will hurt me for years.  When I started the process with Quicken Loans my credit score was 750.  It has now dropped more than 70 points!  $500 and loss of 70 points --- that's the unfortunate legacy of my experience with Quicken Loans.Just in my defence of my credit worthiness;- live in same house for 13 years- self employed at same job for 42 years!- very good credit history- own 2 cars- own other property with no mortgage   etc.     I have to wonder if my handicap (wheelchair) played a role in Quicken's decision making process???       Thanks for listening to my story.
Entity: Detroit, Michigan
65, Report #1404911
Oct 08 2017
09:33 AM
Quicken Loans Do your research BEWARE of Quicken Loans Detroit Nationwide
I don't know where to start as a day before my loan with Quicken was set to close, I had the rug ripped out from underneath me, being told that after over a month, underwriting wouldn't approve the loan. The home my family and I fell in love with. The gut wrenching feeling of having it slip through your fingers and struggling against the clock that's almost out to find another lender is beyond description and wasn't necessary. I was attracted to the Rocket mortgage gimmick advertised to give the impression of a quick process and I was pre approved in roughly 15 minutes BUT what the average/novice home buyer doesn't realize is that this is worth nothing. A reputable lender doesn't wait until the last minute to pass the loan by underwriting, rather they work towards that goal of what they need to pass underwriting from the beginning so when they give a pre approval, the odds are you have the loan locked. I was getting phone calls from different states; different departments of Quicken, that were not in the state I was attempting to purchase a home, which is important because they didn't know the real estate laws in the state I'm in and were giving me inflated closing costs quotes that were all wrong. They are so compartmentalized that they weren't communicating effectively, requesting the same docments that were provided, multiple times. They steer you towards using MyQL.com, your loan portal, instead of calling them, which just further depersonalizes the process and opens the door to making all kinds of odd to do requests; hoops for the borrower to jump through, such as asking why my tax bills went from my previous address to now my current address. This company treats people like they're on a production line and if the same cookie cutter method doesn't work and there's any deviation they drop you even if you've been pre approved then conditionally approved, because they are so disjointed and flip the process around to hand out quick pre approvals that are MEANINGLESS. Do your due diligence and research reviews on local lenders who will know the laws and deal with you more like a person than commodity going down the production line. I am working with a local lender now and the experience is totally different. I only wish I had done it earlier as this mistake could cost me more than racked nerves, broken hearts of my family and more money to redo everything like appraisals, increased cost of the home to cover the lag time for the builder etc etc...this could cost me the most perfect home that I've seen
Entity: Nationwide
66, Report #419364
Feb 02 2009
07:17 PM
Quicken Loans Quicken Loan's Loan Tracker Warranty is a ripoff Troy Michigan
Quicken Loans sold me on a refinance by offering me their Loan Tracker Warranty. That is a ripoff!! I told them I wanted detailed information and an official copy spelling out all the details to the warranty. They sent me a one paragraph fax that offer no limits or restrictions. I told the agent that I had another offer that was a little better and this warranty would be the reason for chosing Quicken. I talked to 2 more agents who knew nothing about it but said agents had information they didn't have. This sounded strange since this was their biggest sales point. I eventually got two people to verify that it was real and I didn't need to worry. Well, they sold me. I got an email from my agent that I qualified for the refiance and to contact him. I did he started the process and when he didn't get back to me, I contacted him and he said oh I am sorry, I got your credit report and you are now under 700 and you don't qualify. I said that was never on the warranty he gave me nor did they ever say that. He said on yea but that is the company policy. I asked to see my report. He never sent it. I pulled up my own and it was over 700. I called him and he said he would do it again. When He called me back he said It had gone down again. Well when I got the report, it went down because of the 3 inquiries they made. I was so mad. I have kept copies of everything sent to me and hope to use it at a later date. I have been looking for anyone filing a class action suit against this unscrupulous company. Verna Anchorage, AlaskaU.S.A.
Entity: Nationwide
67, Report #1060126
Jun 18 2013
03:30 PM
Quicken Loans Living in your car is better than trying for a mortgage from Quicken Detroit Michigan
Three months of pure hell at the hands of Quicken loans and its my own fault for not listening to friends that have had bad experiences and all of the complaints online! Three months ago I called Quicken because I wanted to buy the house I am renting, the owners agreed to sell me the house way under market value for about 189k. I filled out all of the forms, sent in W2's, contracts, bank statements and every other piece of paper known to man. I had my employer write letters after they asked about expenses not reimbursed, my 71 year old mother in law pulled bank statements showing that she could afford loaning us part of the down payment, I pulled rent checks, scanned in my marriage license, drivers, and soc, provided them with a copy of my lease, 12mo of checking account statements, copies of 2yrs of tax returns, a copy of the earnest money check, bank statements before I paid said earnest money, current bank statements, a 2nd letter from my employer stating that I have worked for my company for 3yrs, and a copy of the original offer letter I received from my company.Still it was not enough!So it gets down to the wire and Quicken has a appraiser come out, the guy was in my house for 5min, took photos of the rooms, never went into the loft or the crawl space or the garage and came back with a value of 175k based on houses blocks away from me! The people accross the street are selling for 250k so how he came up with this I will never know. So I call my attorney and he goes through the motions of getting my earnest money back, but then he calls me to say that the appraisal is not right for the area. Quicken looked at  forclosures and smaller houses 5mi away from me! So I call Quicken, and now they claim that they need someone higher up to approve the exeption for my non reimburable business expenses, after I sent them a letter on company stationary from our benefits manager stating that my expenses are covered. So I call them on that one, then they say that they cant approve the loan because the house is worth 14k less than the appraisal, ok fine can you reissue my Pre Approval letter? No they are still saying that on my taxes it looks like I lost 3k last year in business expenses!A word to the wise, unless you have a straight forward only one W2, have worked in the same company for at least ten years, do not need to have family members help you buy your first house, and have never claimed a business expense on your taxes, have a  clean credit rating of at least 800 you might stand, just might close a loan with these clowns. Oh and buy the way, they charge $500 upfront with the promise to return your money, then when the loan does not go through they deduct admin and usless apraisals and claim they will credit your account $50, but wait thers more! Then they said we will try to reissue your pre approval may we have your permission to run your credit again, like a dummy I said yes and guess what boys and girls that ate the $50!After all of that, I have no loan and now I am starting the process oall over again with (((competitor's name redacted)))! So far they have not asked for every thing but a DNA sample and they gave me this site to check them out and their BBB listing.Just avoid Quicken Loans, they will waste 2-3 months of your life and for most home buyers the house will be sold from under them or the seller will get tired of the delays and you still wont have a mortgage!
Entity: Detroit, Michigan
68, Report #216739
Oct 20 2006
03:25 AM
Quicken Loans No LOs are closing 20 loans per month Livonia Michigan
Come on you sheep, you're paying for LeBron's contract. Very few if any LOs are closing 20 loans per month. You need to RUN from Danny's grip. He is just using you. You talk about customers paying more with a broker? Take the QLSS fee: $75 no matter what. How many loans are WRITTEN every month? 20,000? 25,000? Let's be conservative and call it 15,000. That's $1,125,000 per month. $13,500,000 per year. There are maybe 20 people working in the appraisal dept. Let's say they make $20 per hour (no way with cheap Dan). $20 times 20 people times 40 hours per week times 52 weeks per year. That's $832,000 per year in payroll -- profit of over $12 and a half MILLION dollars per year!!! King of the junk fees. Best place to work? Why do so many people quit? No place that expects you to work 60 hours per week is a great place to work. Who owns Fortune Magazine? Time Warner. Who also owns CNN. Guess who CNN's number one advertiser is? Correct -- Quicken Loans. Coincidence? I promise you that the turnover rate is more than you think. I know one month in particular they LOST more people than they hired! Read your own website -- you are NOT the number one online lender according to Forbes Magazine, you had the number one mortgage WEBSITE! not even that anymore. http://www.forbes.com/bow/b2c/favorite.jhtml?id=5 Stop drinking the Kool Aid. Yeah Livonia, MichiganU.S.A.
Entity: Livonia, Michigan
69, Report #231219
Jan 18 2007
09:22 AM
Quicken Loans Ripoff Held Pre-Qualification letter unless I gave my credit card info Livonia Michigan
I will say that I am fortunate enough not to be ripped-off in this situation but I want other people to be aware. I submitted information to Quicken Loans this week to obtain a pre-qualification letter before I set out on a house hunting venture. I submitted all of the information Quicken requested-W-2's, bank statement and pay stubs. Supposedly, I was 100% qualified after my credit check. The loan officer called me back to tell me this and that he needed a deposit ($500 and that my credit card would not be charged but would never clearly state why he needed it) before he sent out my package. I was in the middle of a chore at that time and told him I would call him back with my credit card info a little later. He got pushy with me and asked if I had a cordless phone. This immediately sent me into beware mode. After consulting with my mom, who is a former loan officer with a major US bank, and other lending companies, I decided not to give my credit card information. The loan officer called a couple of times that day and the next. I waited an entire day and a half before returning his phone calls. I just called this morning to ask him to further explain why he needed my credit card information because no other lending companies asked me to do that. He stated well, obviously you have been shopping other lenders. Obviously and darn glad I did. He went into the speech about how the deposit would not be charged until they ordered an appraisal and did title work. It was a commitment to Quicken to do business but they were not going to send out my pre-qual letter until they had my credit card information. I never had enough information to decide if I wanted to commit (rates, fees, etc). I stated that if that was the case the please terminate my file as this was a company that I do not wish to do business with. He was unwilling to budge unless he got the cc number. I am happy with my decision and want others to beware that they don't have to do this or submit to this type of pressure. LDC Dallas, GeorgiaU.S.A.
Entity: Livonia, Michigan
70, Report #325772
Apr 13 2008
03:58 PM
Quicken Loans Approved me within hours of giving them the Credit Card info. Livnoia Michigan
I wanted to refinance our home for a better Interest Rate. Steven Frost Executive Mortgage Banker, ran my credit report, assured me we were fine if I would send him copies of Financial papers proving our income, I did...was told we were approved . He locked in our rate...He told me I needed to give him a CC # for a $500.00 refundable deposit. I did. They ordered the appraisal, Insurance and Tax info and the Title search. Our home was appraised for $389.900 less than a year ago, I know the value has fallen some and was aware of this. We are in an area where the values have not fallen more than 10%. They never ran my credit card thru until an hour before they called to tell me my appraisal came in at 272,000 and they could not do the loan. (The interest rates began to go back up some) I believe this had something to do with it. He said he would call me in June (due to the fact our home had been up for sale and was only off the market for 2 months or so) We wanted a 198,000 loan. I was previously told this would not be a problem. What upsets me is they should not be able to get the 500.00 deposit. He said, he would see about getting us back some of it. It seems they have a practice of doing this to people. I believe if the loan does not go thru for whatever reason, (Unless I change my mind) they do not get the deposit. Jewell Springdale, ArkansasU.S.A.
Entity: Springdale, Arkansas
71, Report #1020004
Feb 25 2013
12:33 PM
TSI Appraisals, Quicken Loans Wade MIchael Koutnik Refinance Appraisal Errors Troy, Michigan
I wanted to Refinace my house that I have owned for 8 years to take advantage of a lower interest rate.  I have excellent credit ratings, income over $250k, and equity in the property. I used Quicken Loans to secure the refinancing and they used TSI as the appraisal company which cost me $500.  Quicken turned down my loan  due to low Appraised Value.  I then went with Greenlight  Financial Services an started the whole process over again.  Greenlight used Strickland Real estate Appraisal Services. TSI appraised my property at $400k while Strickland apraised it at $440K using the same comps in the area.  TSI not only valued the comps at lower values but also used the wrong square footage for my property.  I was present at both appraisals and watch how they were done.  TSI spent all of 10 minutes at the property while Strickland took over 45 minutes.  I requested a refund from Quicken for the $500,00 that they denied saying they have no control over the appraisal process.   Both Quicken and TSI should not be used!
Entity: Troy, Michigan
72, Report #1052745
May 21 2013
04:10 PM
Quicken Loans We've provided loans to over a millon and more Internet
 We begain our saga at Quicken on Marsh 9, 2013 and today May 21, 2013 we have rec'd a letter we were and unscceptable property type because we own our home and then also the land behind us, which are deeded separate.  They went VA Loan which we requested time and time again we did not want to go VA.  Told time and time again, oh this is the best way.  Well they have our $400 for no return calls, a so-called appraisal which we've yet to see. I would call every Monday and get the same damn answer no news is good news.  How can they live with themselves doing this to innocent victims trying to making a living in this hard times.  My husband nicknamed the Slowin Loans and Sleazin Loans.  If you are looking to refinance at all I would advise you NOT to go and give your hard earned money to Quicken they'll just rip you off and break your heart.
Entity: Internet
73, Report #1141049
Apr 23 2014
10:20 AM
Quicken Loans Empty Promises, Out $500.00, Jumping thru Hoops Detroit Nationwide
We choose Qucken Loans because they were an approved Harp loan vendor and had ok reviews. We received numerous pre-approved letters for a Harp loan from Quicken Loans and in March 2014 decided to move forward with the refinance process. We were told we needed a credit score of 600 or better. That changed then to 620, and now is 645. So after jumping thru hoops trashing my credit by re-pulling it, I now had to dispute many items to assist in this even though my husband's score is 720.  Now let's talk about the $500.00 deposit, that we may or may not get back if the decide we don't meet their standards. Really? You've taken a month if pre-approvals and you now don't know if we're approved? Of course, after taken our money We were also under the assumption we would have no PMI, guess who has PMI? I'll be darned to sit back and let this happen to myself or another family. We are holding on to hope we will close and we won't be out any money. 
Entity: Select State/Province
74, Report #146965
Jun 21 2005
01:23 PM
Quicken Loans New Home Purchase Loan Scam Ripoff Livonia Michigan
The salesperson used extremely unethical and dishonest tactics. He preapproved us for a specific loan at specific rates, terms and closing costs. We disclosed and presented with all information that was requested in a very quick, timely manner. After presenting him with all the information I repeatedly asked daily if everything was fine and our loan was ready for closing. For weeks he said yes everything was fine despite pushing back the original closing date almost 3 weeks. We packed our belonging in a Uhaul because we were due out of ouor apartment and expecting to close on a certain date, after having the closing date extended numerous times. With the seller losing faith in the completeion the salesperson presented us on the last day with a completely different loan at a much higher rate, requiring about 8000 more at closing and a totally different program. Needless to say we would not agree to this. I spoke with his manager who said that the salesperson (Brandon Lowe) had lied to us and had exhibited similar behavior before. Due to us not being able to accept their new loan terms, me and my husband lost the house, our $2000 escrow deposit and about 600 in moving and inspection fees. Ellen Altamonte Springs, FloridaU.S.A.
Entity: Livonia, Michigan
75, Report #273208
Sep 07 2007
10:59 PM
Quicken Loans Yet another person screwed out of $500.00 from this company!! Livonia Michigan
I wish I new about ripoffreport.com before getting involved with Quicken Loans. I, like many others I've read about have been screwed out of $500.00. From day one, they didn't get anything correct....I guess that should have been a sign not to do business with this company. I went to them to re-finance my current home loan and I had to have them re-do the initial paperwork four times before I would sign anything. I finally did sign and we agreed that because I didn't have enough available credit on any one of my credit cards thay would charge a portion of the $500.00 on three seperate cards. Then I had the first appraisal done which came in much lower than I anticipated. Thank GOD I refused the second appraisal. Today, I went to pay my credit card payment and saw that they charged the entire amount on one card which put me over my limit and I now have to pay the entire over-the-limit amount. Of course however the first thing I did was disput this charge with my credit card company. I never received the appraisal nor have I ever seen any receipts for any so called charges they have incured. Needless to say I am NOT going through with this loan and today I asked to speak to the President/CEO of the company and supposedly spoke with a person in his office (like I really believe that now after reading everything on the ripoffreport.com web site) I was probably speaking with the newest, part-time, fresh out of school, doesn't know any better employee. I will take this as far as I have to, to get my money back in full from Quicken Loans. Stay away from this company!!!!!!! They are nothing but a scam!!!! I understan that there may be a class action law suit being brought against them and I intend to investigate being a part of that law suit. I thought I did my homework when I was shopping around for a mortgage company.......I guess I didn't do enough homework on Quicken Loans. Angry a Anytown, MichiganU.S.A.
Entity: Livonia, Michigan

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