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Report: #1093555

Complaint Review: Quicken Loans - Louisvile Kentucky

  • Submitted:
  • Updated:
  • Reported By: cheated by quicken — hoffman estates Illinois
  • Quicken Loans Louisvile, Kentucky USA

Quicken Loans $500 Good Faith Deposit Is Really The "Rip Off Deposit" Louisvile Kentucky

*UPDATE Employee: Rip-Off??

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 As you have read fron consumers in other states, Quiken Loans is very "quicken" in taking your money, slow in processing your loan, knit-picking all kinds of littl things and not give you a loan, after which they tell you, Oh, by the way, we can only refund you what is left of your money, not the credit report and apprisal. 

Also be aware!!! The "Third Party Title Company" they use for title insurance, REALLY is a Quicken Affiliated company.  Then they tell you that whatever this title company charges you they cannot control.  Confilict of interest? Yes! And without the disclosure.  Just a rip off all around.  Professionals we knew, unrelated to our loan, from real estate agents in the southern states to the insurance agents in Florida, all knew Quicken sucks.  So spare yourself the pain, go with anothe lender.

Do Not Be Fooled By Their TV Advertising! Stay Away!!!

This report was posted on Ripoff Report on 10/21/2013 03:59 PM and is a permanent record located here: https://www.ripoffreport.com/reports/quicken-loans/louisvile-kentucky/quicken-loans-500-good-faith-deposit-is-really-the-rip-off-deposit-louisvile-kentucky-1093555. 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

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#1 UPDATE Employee

Rip-Off??

AUTHOR: QLmike - ()

POSTED: Monday, October 28, 2013

I work for QL, and this couldn't be more incorrect.

First off I'll start with some branding. We're the #1 Online Lending Company in the Nation. We're the #2 retail lender in the nation. We have an A+ rating with the BBB (no other lender in our industry can claim that), and we have won 3, soon to be 4 JD Power & Associates awards for top client satisfaction in Primary Mortgage origination. We have over a 95% client satisfaction rating, when the average lender's is under 50%.

A company does not achieve these types of award or accolades by "ripping off" our customers.

The $500 Good Faith Deposit is simply a handshake to do business. We accept it to cover 3rd party fees. Can you imagine how many clients we have every day saying their house is worth 200k and the appraisal comes back as 130k? The programs we qualified them for, now, have no chance of working out. (tip for people: your house worth is based on comparables in the area. A gold toilet doesn't increase the value of your home) Are we supposed to just eat these costs then? (on average an appraisals are 500+, so we actually do eat a lot of the costs). It also covers cost of Credit Report, and some title work. 

And in response to us using our own title company. This is 100% legal, and if you read the ABA Disclosure you would understand this. Also you have the right to choose any title company you'd like at request.

Back to the Good Faith Deposit. We of course refund the money not used if the loan doesn't close for any reason, but the best thing is that Good Faith Deposit is credited right to your account at closing.

Our business speaks for itself, but you know some people can never be pleased.

Go ahead and give me a call today and I'll be happy to personally show you why we're number 1 in client satisfaction.

Michael Coriasso NMLS#1096968 313-338-2159

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