QUICKEN LOANS Matthew Ross at Quicken Loans Livonia, Internet, Michigan

So, what is going to happen next week at trial? DG is a PR genius... What will he pull? I'm thinking he'll make it mandatory for all current employees to attend the trial to "show support" and then pound the phones from 2pm till midnight!! I'm not sure how he pulls it off but somehow during this whole mess he managed to have Quicken put on the 100 best companies to work for... I think he was greasing palms... Never understood that because it was a freaking nightmare. Working there sucked. Now, he's as guilty as the devil is evil but he may somehow come out looking like a saint. Personally, I think the only way he can get out of this is paying an juror or the judge...

File a report of your experience on:

http://www.ftc.gov/reports/index.htm

In the loan disclosures they acknowledge TSI is an affiliate that manages the appraisals. It states that they (me) pay TSI for their services and that I as a consumer have no choice in this.   I did a check and confirmed the common ownership of Quicken and TSI. 

Both TSI and Quicken should be sued for those of you planning to sue.

I am happy for you all - Quicken Loans deserves to loose! Now if only small people like me and the others that have been shafted by the workers at Quicken of our DEPOSITS we would indeed have accomplished something! I have lost $500 when Quicken Loans did nothing but claim because I signed papers (and though I withdrew within a half day) I SHOULD kiss my money goodbye. The company practices bad faith with their employees and their customers! They deserve to GO DOWN if they cannot become more conscious of how their business practices are hurting so many people. CONGRATULATIONS!

GREAT NEWS!!! QUICKEN IS GOING TO LOSE THE OVERTIME LAWSUIT

I just got done with a personal briefing at the Book Cadillac Hotel in downtown Detroit with the the legal counsel that is suing Quicken Loans.

Their is a mediation tomorrow for settlement which Quicken will not submit to.

This case is going to trial and over 1400 ex employees will receive possible tens of thousands of dollars each for not being paid overtime.

Their is a new judge on this case who finally understands the overtime laws.

Sorry Dan, but looks like you will be out around 50 million on this one.

If you are a current Quicken employee you can still sign up for the suit. You will receive approximately $9000 for each year you have worked their.

The true story on Dan Gilbert is that he is totally nuts!!! more to follow.

Their main source of income is my defrauding people out of the deposits. They act like pigs masquerading as business people, leaving people worse off than when they contacted them. Look at the posts from ex-employees and the most recent posts. There is an entity name Kelly that basically writes the same lame excuses over and over again demonizing everyone they defraud claiming everything they do is basically wrong. Like in my case they took a deposit, forced me to sign papers quickly (to lock in that great interest rate), the papers were way different than what we agreed on, and within 24 hours I was out of the contract. Then they (after I was told they stopped everything) they charged me the deposit fee. I told them that I did not know if the bank would honor their withdrawal and they did - it sent me into a debt spiral that almost cost me everything. So now they have my $500 deposit and have no intention of giving me my money back. They are in the DEPOSIT BUSINESS not in the REFINANCING BUSINESS. This is how they succeed. This is the main complaint throughout all the threads.

I have been receiving quite a bit of responses by current and past employees about Quicken's business practices. What is surprising is the amount of consumers that have contacted me.

To participate in our documentary you will need to sign a release of information, stating that the information you are providing is true. This will be provided to you when you contact us.

Our production/investor group is currently in the process of completing our tax credit application for the state of Michigan.

Please contact me at ben.silverman60@gmail.com. We have already been contacted by the communications department of Quicken to explain their side of all these complaints. However the documentation and internal company emails I have received are quite shocking to say the least.

We are a west coast production company looking to develop a documentary on Quicken Loans sales practices. We have been monitoring consumer complaints on this website and since Quicken Loans is the largest internet mortgage company in a dying industry, our production company would like to know how they continue to grow.

Our reading of these continued postings highlight that these "consumer deposits" may be fueling Quicken Loans business model.

If you are a current employee or past employee or consumer with Quicken Loans please email us at ben.silverman60@gmail.com for a possible interview for our production.

It appears both companies share a common bond:

"At Quicken Loans, Rock Financial, and Title Source, we have 3,000 passionate home loan experts dedicated to getting our clients..."

For more details, see http://www.quickenloanscareers.com

On a fee sheet for Quicken Loans you will most likely find charges for TSI appraisal services.  If the ownership interest of Title Source (TSI) were to be looked up, who would we find the owners to be?

Hi and thanks for posting! My name is Kelly and I work for Quicken Loans. I wanted to try and shed some light on your issue with us.

The key complaint here is us retaining your deposit. What's not mentioned is that you signed your application, agreeing to and authorizing your deposit with us. If you're unsure of where to find what you signed (our deposit policy) you can reference your application, specifically the document entitled "Interest Rate Disclosure & Deposit Agreement." If you no longer have that, you can see our policy on our website, which even includes a sample of deposit agreement you signed: https://www.quickenloans.com/about/quicken-loans-deposit

The deposit allows us to start working on your behalf. We begin to spend money on needed items like credit reports, appraisals, locking your rate and processing your loan. Based on what you said, it sounds like we were ready to close your loan for you, meaning had likely spent far more than your deposit would ever cover. I hope the deposit makes more sense to you now.

Since your posting, I've researched your loan a bit. While you did raise issue with your banker about your closing documents, Matthew made changes and walked you through it again. Based on your refusal to move forward, your loan is considered withdrawn and we retain your deposit.

You also mentioned a low appraisal. Please note that we have zero control over what your home appraises for. We hire 3rd party, unbiased appraisers to get a legitimate opinion of value before proceeding with the loan. The fact of the matter is recent foreclosures have taken a toll on home values all across the country. Even with a lower- than-anticipated appraisal, we were still prepared close your loan, but you refused. For more information on how appraisals work with Quicken Loans, please check out our YouTube video: http://www.youtube.com/watch?v=wEqjUInKXOo

In the end, I believe you ended up choosing a lender who gave you a higher appraisal. While that's your decision, it does not reverse the agreement you signed. Part of the reason we obtain deposits is to make sure our clients are as committed to closing their loan as we are.

I hope this all makes sense to you. If you would like me to look into this further or answer any questions for you, please get in touch with me directly: Kelly@QuickenLoans.com

Thanks,

Kelly
Quicken Loans
Kelly@QuickenLoans.com

It's sad in this world that this happens. There is no excuse for this. This is very rare  lately because of all the regulations. I have been in the business 12 years and this upsets me. Everyone in the indusrty isn't that way. Best of success in the future.

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