Complaint Review: Quicken Loans - Livonia, MI Nationwide
- Quicken Loans Victor Parkway Nationwide U.S.A.
- Phone:
- Web:
- Category: Mortgage Companies
Quicken Loans Managers at Quicken Loan Consultants to Take a Deposit No Matter What!! Livonia, Livonia, Michigan
*Consumer Comment: There Were No Expenses...
*REBUTTAL Owner of company: Response to the Last Response...
*Consumer Comment: I Have the Documents Proving What You Say is Not True
*UPDATE Employee: Deposits..
*Author of original report: To Answer Your Question
*UPDATE EX-employee responds: Question
*UPDATE EX-employee responds: Question
*UPDATE EX-employee responds: Question
*UPDATE EX-employee responds: Question
listed on other sites?
Those sites steal
Ripoff Report's
content.
We can get those
removed for you!
Find out more here.
Ripoff Report
willing to make a
commitment to
customer satisfaction
Click here now..
I worked for Quicken Loans not too long ago. The Sales Directors would tell their subordinates to take a deposit no matter what! Even when we knew would could not get the loan approved (poor credit, collateral, etc.) the Sales Director would have us take a deposit. One may ask: Why? It's simple! They keep the deposit and refuse to refund it!!
In the time I was there, I heard people take deposits on cars, mobile homes, and people with poor credit - all loans that would not be approved. The Sales Director would say: It's good to take a deposit. It gets you in the habit.
Don't give them a deposit. They'll keep it...
And justice for all...
Tempe, Arizona
U.S.A.
This report was posted on Ripoff Report on 02/15/2008 05:34 PM and is a permanent record located here: https://www.ripoffreport.com/reports/quicken-loans/nationwide/quicken-loans-managers-at-quicken-loan-consultants-to-take-a-deposit-no-matter-what-livo-309284. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
If you would like to see more Rip-off Reports on this company/individual, search here:
#9 Consumer Comment
There Were No Expenses...
AUTHOR: Bman - (United States of America)
SUBMITTED: Monday, July 19, 2010
I am doing the rounds with the Kelly entity that responds
with glib comments about how everyone in every thread is WRONG except her and
the company that hired her/him to LIE. This is obviously a pseudonym used by
anyone in the company assigned to repeating the same canned comments. In my
case this is doubly wrong since NOTHING was given me except that I sign some
papers. When I pulled out, almost immediately, there were no service like
inspections to offset the expenses. In short because I signed some papers that
was enough to charge me $500 mind you AFTER I withdrew myself for their
offering. Citicard was charged AFTER I withdrew they knew exactly what they
were doing. I don't know about you but I think charging me $500 pay to withdraw
a signature is at best sleazy - by any standard.
#8 REBUTTAL Owner of company
Response to the Last Response...
AUTHOR: Bman - (United States of America)
SUBMITTED: Thursday, July 15, 2010
Obviously the last rebuttal is from someone that works for Quicken
Loans. The posts about the negative approach to common folk are true since I
have dealt with the same and have reported my experiences. They kept my deposit
even though there was NO settlement, then alone an inspection, and I have been
waiting for an answer from Clayton now for four weeks. My experience happened
in 2009 and I am still waiting for the company to do the RIGHT THING. Their
main source of profits comes from their bogus deposit scam. I am out for $500
and the company provided me no service. See my posts for more exact
information.
#7 Consumer Comment
I Have the Documents Proving What You Say is Not True
AUTHOR: Delaware - (U.S.A.)
SUBMITTED: Wednesday, April 23, 2008
From one of the hundreds of consumers taken by Quicken, you are either not being truthful or very misguided.
#6 UPDATE Employee
Deposits..
AUTHOR: Maximusbanker07 - (U.S.A.)
SUBMITTED: Saturday, March 29, 2008
I can understand practicing getting deposits, but the card is not charged until the day after the documents are signed and the supporting documents are sent to the underwriting team. No bankers or directors get those funds.
#5 Author of original report
To Answer Your Question
AUTHOR: And Justice For All... - (U.S.A.)
SUBMITTED: Wednesday, February 20, 2008
Allow me to clarify. Deposits would be taken on almost everything. I believe this was done to get people in the habit of taking deposits. If the loan is denied for any reason, appraisal, credit, collateral, etc the deposit would be refunded minus any cost incurred. But, there is a catch to this. If the loan is approved, the deposit does not get refunded. Basically, Quicken will hold the deposit for ransom to try and force you to close on the loan. Once the borrower receives the paperwork and realizes it's not a good loan for them Quicken will use the deposit as leverage to force them to close. This is why the Sales Person would increase the rates and fees.
The minute a customer has an objection, they can tell them they are not getting their deposit back. I can't remember the Sales Directors name but he was on the Money Train. Maybe Jared?? Anyway, he taught his team this trick. Tell them what they want to hear and then use their deposit to force them to close. I remember him yelling at the top of his lungs with his face beat red saying YOU ARE NOT GETTING YOUR DEPOSIT BACK!!!! This was the same person that carried around a baseball bat to intimidate his sales team.
#4 UPDATE EX-employee responds
Question
AUTHOR: Duh. - (U.S.A.)
SUBMITTED: Tuesday, February 19, 2008
I used to work for Quicken, as well. And my first piece of advice to anyone who is considering working with them or for them is..."DON'T."
With that being said, I do have a question regarding your post. I quit at the beginning of July, just weeks before the whole mortgage meltdown. When I was there, we were definitely encouraged to take deposits and CLOSE! CLOSE! CLOSE! However, we were never encouraged to take deposits for mobiles homes, cars, etc. as you said. Also, deposits were not kept. In fact, I don't even think that was an option. If the loan was denied/withdrawn, the deposit (or whatever was left of it) was automatically reimbursed to the credit card within the next 7-10 days.
Are they keeping deposits now? Say a client calls in and the banker knows they have a mobile home but they take the deposit anyway. And then the client care specialist calls them to do a follow up call and the CCS determines that the loan cannot close so they deny it. Doesn't the client automatically get their deposit back (minus the $7.78 credit pull fee) or has the system changed? And if Quicken is really keeping it, who gets the deposit?
Another question...is the security deposit still charged at folder received? When I worked there, the credit card was not processed for the $500 deposit until the client signed all their documents and sent in supporting documentation. However, I have read complaints from other people that said they changed their mind before returning anything to the banker and they still got charged. But maybe they were just mistaken.
Thanks so much and congrats on getting out of Quicken. Isn't life so much better on the other side? :-)
#3 UPDATE EX-employee responds
Question
AUTHOR: Duh. - (U.S.A.)
SUBMITTED: Tuesday, February 19, 2008
I used to work for Quicken, as well. And my first piece of advice to anyone who is considering working with them or for them is..."DON'T."
With that being said, I do have a question regarding your post. I quit at the beginning of July, just weeks before the whole mortgage meltdown. When I was there, we were definitely encouraged to take deposits and CLOSE! CLOSE! CLOSE! However, we were never encouraged to take deposits for mobiles homes, cars, etc. as you said. Also, deposits were not kept. In fact, I don't even think that was an option. If the loan was denied/withdrawn, the deposit (or whatever was left of it) was automatically reimbursed to the credit card within the next 7-10 days.
Are they keeping deposits now? Say a client calls in and the banker knows they have a mobile home but they take the deposit anyway. And then the client care specialist calls them to do a follow up call and the CCS determines that the loan cannot close so they deny it. Doesn't the client automatically get their deposit back (minus the $7.78 credit pull fee) or has the system changed? And if Quicken is really keeping it, who gets the deposit?
Another question...is the security deposit still charged at folder received? When I worked there, the credit card was not processed for the $500 deposit until the client signed all their documents and sent in supporting documentation. However, I have read complaints from other people that said they changed their mind before returning anything to the banker and they still got charged. But maybe they were just mistaken.
Thanks so much and congrats on getting out of Quicken. Isn't life so much better on the other side? :-)
#2 UPDATE EX-employee responds
Question
AUTHOR: Duh. - (U.S.A.)
SUBMITTED: Tuesday, February 19, 2008
I used to work for Quicken, as well. And my first piece of advice to anyone who is considering working with them or for them is..."DON'T."
With that being said, I do have a question regarding your post. I quit at the beginning of July, just weeks before the whole mortgage meltdown. When I was there, we were definitely encouraged to take deposits and CLOSE! CLOSE! CLOSE! However, we were never encouraged to take deposits for mobiles homes, cars, etc. as you said. Also, deposits were not kept. In fact, I don't even think that was an option. If the loan was denied/withdrawn, the deposit (or whatever was left of it) was automatically reimbursed to the credit card within the next 7-10 days.
Are they keeping deposits now? Say a client calls in and the banker knows they have a mobile home but they take the deposit anyway. And then the client care specialist calls them to do a follow up call and the CCS determines that the loan cannot close so they deny it. Doesn't the client automatically get their deposit back (minus the $7.78 credit pull fee) or has the system changed? And if Quicken is really keeping it, who gets the deposit?
Another question...is the security deposit still charged at folder received? When I worked there, the credit card was not processed for the $500 deposit until the client signed all their documents and sent in supporting documentation. However, I have read complaints from other people that said they changed their mind before returning anything to the banker and they still got charged. But maybe they were just mistaken.
Thanks so much and congrats on getting out of Quicken. Isn't life so much better on the other side? :-)
#1 UPDATE EX-employee responds
Question
AUTHOR: Duh. - (U.S.A.)
SUBMITTED: Tuesday, February 19, 2008
I used to work for Quicken, as well. And my first piece of advice to anyone who is considering working with them or for them is..."DON'T."
With that being said, I do have a question regarding your post. I quit at the beginning of July, just weeks before the whole mortgage meltdown. When I was there, we were definitely encouraged to take deposits and CLOSE! CLOSE! CLOSE! However, we were never encouraged to take deposits for mobiles homes, cars, etc. as you said. Also, deposits were not kept. In fact, I don't even think that was an option. If the loan was denied/withdrawn, the deposit (or whatever was left of it) was automatically reimbursed to the credit card within the next 7-10 days.
Are they keeping deposits now? Say a client calls in and the banker knows they have a mobile home but they take the deposit anyway. And then the client care specialist calls them to do a follow up call and the CCS determines that the loan cannot close so they deny it. Doesn't the client automatically get their deposit back (minus the $7.78 credit pull fee) or has the system changed? And if Quicken is really keeping it, who gets the deposit?
Another question...is the security deposit still charged at folder received? When I worked there, the credit card was not processed for the $500 deposit until the client signed all their documents and sent in supporting documentation. However, I have read complaints from other people that said they changed their mind before returning anything to the banker and they still got charged. But maybe they were just mistaken.
Thanks so much and congrats on getting out of Quicken. Isn't life so much better on the other side? :-)
Advertisers above have met our
strict standards for business conduct.