Quicken Loans Inc Took $500 deposit for an application and did not fulfill the original agreement. Refused to refund deposit. Detroit, Michigan

If you get anything back from this company please post so we all know that they have changed their ways. Of course, this will never happen since Kelly is paid to lie and plant some doubt as to the worthiness of complaints against this sleazy toxic company, where the customer is lied to at every turn, and their practices are more like swine than business people. Please report them to the authorities - there is lots of information throughout the threads about who to contact. I have been scammed too and do not expect any morality of fairness from this greedy company. Sorry that you lost money as we all have from a company that consistently cheats the poor (and the general public).

Hi, I'm Kelly from Quicken Loans. I'm sorry you didn't have a great experience and we weren't able to close your loan.

While I'm unfamiliar with the specifics of your loan, we do try to be as as transparent as possible about our deposit policy, making sure every client agrees to it on the application before proceeding. It's even available on our website: http://www.quickenloans.com/about/quicken-loans-deposit

If you still have questions, I'd be happy to look into your loan. You can reach me directly: Kelly@QuickenLoans.com. Thanks for considering Quicken Loans!

     As a Mortgage Broker I run up against Quicken and a dozen companies like them. They are usually staffed with under experienced loan officers. They will quote unbeleivably cheap rates and get you to pay their anpplication fee. No one should pay an application fee for a mortgage. It locks you into going with them no matter what rate they can actually give you. After you pay suddenly the rate changes for any number of reasons. Your credit score come in lower, the appraisal came in lower, ecetera. Then they send out a change of circumstance disclosure so RESPA is not violated. Theseb burn and churn outfits are concerned about one thing. Making money on your transaction. No real thought is put into what you needs are. Is extending you loan back out to a 30 year term really in your best interest? If you have an ARM should you really refinance? Depends on your rate and the index. Next time look up the lender on this website and others. See what complaints there are and what the resolution or rebuttals are. And never, never, never pay an application fee! If you want to gamble $500.00 then go to Vegas or play the lottery.

I am 99.9% positive that this will work to get your deposit back because of RESPA laws.  If they change the terms of the loan to a point where it no longer makes sense to do the refinance, but you can still close, do it anyways.  For your primary residence you will get a 3 day rescission period.  So go through your closing and then immediately send in the notice to rescind.  You are no longer obligated to the refinance and you should get your $500 back.

Do not try this with a second home or investment property since they are not provided a rescision period. 

Unfortunately, in most cases the loan will not close because the Quicken loan officer overstated the value of your house.  They do this so that they can send out an email to the other employees letting them know they got an application and everyone claps and tells them good job.