QUICKEN LOANS, INC.

2018-11-27

Nyc, NY

Improper use of your report

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Reporting company used your report improperly
Complaint: I created an online account with Quicken Loans / Rocket Mortgage. The sign-up process requires that you share your social security number with them. I initiated an online chat conversation with a customer service representative to inquire about the firm 's underwriting standards ( loan-to-value ratios and required down payments ) for single-family investment properties. I explicitly stated during this conversation that I was not applying for a mortgage with Quicken Loans and I did not want my credit score pulled. Within the week, my credit score had been hard pulled by Quicken Loans twice explicitly without my consent.
Company Response: Closed with explanation

Timely Response

2018-11-26

Sparta, NJ

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-11-20

Christiana, DE

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-11-19

FL

Applying for a mortgage

Mortgage: Other type of mortgage

Complaint: I have a credit score of XXXX..I get XXXX a month XXXX..I work part time ..there I make XXXX after taxes..My wife gets XXXX XXXX..Last count that was about XXXX a month..Quicken and rocket loans refused us..I know it was because of our ages..Is this legal?
Company Response: Closed with explanation

Timely Response

2018-11-18

Plymouth, FL

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: I applied for a Refi on an existing loan with Quicken Loans also a purchase loan for a new home. This was on approx. XX/XX/18 for both of these loans. I gave all relevant info and did the applications for both. Got a pre approval for the purchase loan. During the process I noticed that the fees on the loan closing estimate papers kept going up and was higher then what I believed was normal. I was told by the mortgage agent is usually higher on the estimate but it most of the time will go down. I completed all required paperwork got the appraisals done etc.. After doing this the loan interest rate changed after I was told I locked in the interest for 30 days. Then the closing costs and fees went higher. I brought it to the agent attention with Quicken loan and asked for a supervisor to contact me. That's when things took a turn, the supervisor that contacted me was less then polite. Because I continued to push the issue and claim that I was being guided into higher interest loans that my high credit score doesn't warrant my loan was denied. The official reason was that I couldn't prove that I had moved into my house for the Refi over 5 years ago. They wanted a phone bill in my name or proof of moving expenses. Quicken Loans cost me money for both home appraisals, time and almost cost me the house I was trying to purchase.
Company Response: Closed with explanation

Timely Response

2018-11-17

OH

Improper use of your report

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Credit inquiries on your report that you don't recognize
Complaint: While speaking with a loan officer, he advised that he needed to pull my credit. I stated I didnt want him to and he tried to explain that it wouldnt impact my credit much. He then realized he already had my information and stated I already have everything I need and he scheduled a call back. He pulled my credit without getting consent and never even called me back like promised.
Company Response: Closed with explanation

Timely Response

2018-11-17

Cheverly, MD

Closing on a mortgage

Mortgage: Conventional home mortgage

Complaint: On XX/XX/2018, I closed on a new home in the Maryland area with Quicken Loans. The closing was originally scheduled for XX/XX/XXXX but was pushed back for Friday XX/XX/XXXX .To my surprise during the signing of the documents I was shocked to learn that my first payment would be due in XXXX. I called the gentleman who had helped me throughout the process about this and he apologized stating that " the person servicing the loan, never changed the date and unfortunately it was an oversight ''. That was the 1st issue. At the same time I was on the phone with the Quicken Loan rep trying to see if this could be resolved I signed the paperwork, only to realize that he included ESCROW on my monthly payment WITHOUT DISCUSSING THIS WITH ME! I put 20 % down and my credit score is XXXX, why would they automatically apply that to my monthly balance and not give me the option to pay for it separately?! I called, spoke with too many uninterested and frankly unhelpful investigators at Quicken Loan whose sole purpose is to protect the organization against admitting any liability. That was the 2nd major issue. In XX/XX/2018 ( 3rd month in the loan ) I receive a letter stating that there is a manual disbursement on my property tax and that now I OWE QUICKEN LOANS over {$5000.00} which will be applied to my mortgage! I called and spoke to another investigator and questioned them how could this happen. I signed mortgage documents less than 3 months ago agreeing to pay {$2800.00} and now you they are trying to force me to pay {$3300.00}. As they naturally did, the investigators provided no solution and they stated that it was not their responsibility. That is the 3rd and FINAL ISSUE. I am just one person and do not have access to the same resources that Quicken Loans has, however make no mistake, THERE IS RIGHT WAY to do things AND THERE IS WRONG way to do things. These issues could have been rectified in private if they showed a willingness to take responsibility and act accordingly, they didn't.
Company Response: Closed with explanation

Timely Response

2018-11-16

Washington, DC

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-11-16

San Antonio, TX

Trouble during payment process

Mortgage: VA mortgage

Company Response: Closed with non-monetary relief

Timely Response

2018-11-14

SC

Struggling to pay mortgage

Mortgage: Other type of mortgage

Complaint: In XX/XX/XXXX my wife and I refinanced a mortgage on a condo in XXXX XXXX, SC through Quicken Loans. At the time the property values were soaring and we wanted to pull out cash and refinance. Quicken offered us a loan product that kept the monthly payment low but we were not fully informed of the consequences when after ten years the payment jumped over a thousand dollars a month. After XX/XX/XXXX the property value dropped over two hundred thousand dollars from the appraised value when we refinanced and the property value has been lower than the loan balance ever since. Since Quicken sold the loan to a private investor and not a fed agency, we could not do a HARP refinance. We have asked the loan servicer, XXXX XXXX XXXX for a loan modification, but they have not provided an offer. Over the last eleven years, I have paid over two hundred thousand dollars in interest and principal and the current loan balance is only a few thousand less that where we started. This loan was a scam and should have never been offered to borrowers that did not understand the effects of negative amortization loans.
Company Response: Closed with explanation

Timely Response

2018-11-13

Antioch, CA

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-11-12

Billerica, MA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-11-10

Lewisville, TX

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Home equity loan or line of credit (HELOC)

Complaint: On XX/XX/2018 I filled out an online request on XXXX XXXX for a Home Equity Debt Consolidation Loan, and within minutes a Spokesman from Quicken Loans called me, and we started discussing a home equity cash out loan. He then connected me to a refinance loan so-called specialist who I immediately informed my situation to, and Asked him good and well ( CAN YOU HELP FOR SURE ) and I was given a yes indeed answer. I don't think he could tell I was XXXX-XXXX at that time, so I sent my personal info to him by email, and last years tax info as well and asked him to analyze before running my wife and mine Credit report as this was bery important to us as we had had some issues with a previous mortgage company and needed to know if there was a reason to go forward and therefore run our credit making a Hard Inquiry pull. He informed me that same evening that everything looked good, and he need credit report pulled to continue, now we were informed that all we needed was a XXXX credit score to qualify, and we exceeded that, so he said I will call back with interest rate and etc. to get paperwork started, but then he did call back and started that ... ... ..well we need to get credit a lil better so we may need some credit repair, this was a direct contrast Lie to what he told us, and I said we will not be doing no credit repair or pay for anything other than an Appraisal to be done, the not long after I said that, he called back telling us he can not do the Loan, even after telling us that everything was Good to Go with our initial qualification
Company Response: Closed with explanation

Timely Response

2018-11-09

Key Biscayne, FL

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: On XX/XX/XXXX I began the process to refinance my existing mortgage from a variable rate to a fixed rate product. I did some research and decided to go with Rocket Mortgage who claims that they are " Engineered to Amaze '' their clients. I did this with the help of my father, a Senior Vice President in charge of a mortgage division for a bank here in XXXX, now retired. I am a XXXX single woman, mother of XXXX children, with an impeccable credit history, liquidity and 40 % equity on my {$720000.00} home. The process was going quite well and we were ready for the " final steps '' and that is when the problems began. I got divorced in XXXX and I provided the divorce decree which stipulates the alimony and child support that I receive on a monthly basis. I provided my tax returns showing that taxes are being paid on this amount. In addition, as of XXXX of XXXX I am employed by XXXX XXXX here in XXXX in a management position with a decent salary. My ex husband is a XXXX XXXX and travel around doing conferences in the United States and XXXX XXXX. At the time of the settlement it was decided that he open a checking account with my signature so that I could draw my payment every month without having to go chasing him and tracking him down. It has worked successfully up to now and the sole purpose of this account is for that transfer to take place. I deposit that check into my personal account every month. His bank would not do an ACH into my account because although the alimony payment is constant, there is a variable component for the children 's expenses which vary month to month. Bank statements were provided to this effect. Our communication is limited to the children 's needs and have no access to each other 's finances or accounts. The underwriters at quicken which have been many, refuse to understand the situation and are requesting that i need to get his bank statements from his medical practice to show where the funds come from. It is very simple, it is stated in the divorce settlement agreement you don't pay you go to jail. As you can understand, we are not in a amicable situation to be asking for this information. What happened to the three " C 's '' of credit? Character, Credit Worthiness and capacity to repay. I feel that I have been taken for a ride either for the fact that I am a XXXX woman who they feel is trying to get away with something or they do not want to honor the rate that we negotiated and don't know what else to do to turn me down. We are in fact looking at a jumbo loan of {$430000.00}, 60 % loan to value. The whole situation is bizarre at what would seem to be a slam dunk deal. In reading the reviews for Quicken, I see many common complains where people get bounced around and they don't speak with each other resulting in situations such as mine. I would like my case to be investigated with all details we provided to the. My loan officer, who by the way, was on board from the very beginning was XXXX XXXX and he was very helpfu.
Company Response: Closed with monetary relief

Timely Response

2018-11-07

PA

Confusing or misleading advertising or marketing

Credit reporting, credit repair services, or other personal consumer reports: Credit repair services

Complaint: I received an email that states : " My team is working on your refinance request, but we would like to get more info about your financial goals. '' This email gave me great pause as I have not requested a refinance and I was worried about Identity Theft. I called the number on the letter and was told this is a marketing piece. I think the piece is materially deceptive, appalling, and disgusting that it was sent by XXXX XXXX | Vice President, Mortgage Banking. Regardless if he led the marketing campaign, it is a direct reflection of poor leadership and I believe it violates UDAAP. Additionally, I tried to unsubscribe and the email did not allow. Rather I have to update my preferences, which does not provide for a simple opt-out solution. Again - disgusting. I worry about my parents or other unsuspecting individuals that don't understand their rights or even how to complete the necessary steps online.
Company Response: Closed with explanation

Timely Response

2018-11-07

Sarasota, FL

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: Today is XX/XX/2018. This morning an ad scrolled across my smartphone screen from Quicken/Rocket Mortgage that said " Get Approved in 8 Minutes ''. This appears to violate at least Advertising/Reg N. This is false and misleading advertising. It may be possible to get " Pre-Qualified '' in 8 minutes, or even " Pre-Approved '' in 8 minutes, but it is virtually impossible to get " Approved '' in 8 minutes. To get " Approved '' means your loan application and all accompanying documents must be reviewed and underwritten by an underwriter, something which can not be done in " 8 minutes '', so in reality it is several days or even weeks for a final " Approval '' to be issued. It is impossible to get " Approved '' in 8 minutes. Why is Quicken/Rocket Mortgage allowed to mislead the consumer with false promises like this?
Company Response: Closed with explanation

Timely Response

2018-11-06

Kings Ferry, NY

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-11-05

Navasota, TX

Trouble during payment process

Mortgage: VA mortgage

Complaint: Quicken Loans holds my home mortgage ( VA ) - on XX/XX/XXXX I had solar panels installed using a separate loan company. I contacted Quicken loans to see about combining the solar loan with my home loan to have one payment. Instead of doing what I requested they took it upon themselves to determine my escrow would be short {$1800.00} - even though I've check with the appraisal company and they have not increased my taxes. QL is now requiring me to pay and addition {$1800.00} in addition to my normal taxes without any documentation from the tax office. I applied for the Home Solar tax exception which I will hear back from in XX/XX/XXXX. However QL will not drop the increase on my home escrow until XX/XX/2019 IF i get the exemption. I'm curious how they can tax me when the appraisal district has not done so. Is this not taxation without representation?? I'm furious and have talked to several people only to get upset by them more and more. The last person said my only other option is to pay my taxes myself - after I get a XXXX balance with QL. I just want them to drop the solar tax increase, because they have no right to guess - especially when the panels were installed ( but not operating on XX/XX/XXXX ) and their site says they evaluate escrow in XX/XX/XXXX. They received my solar documents because I requested a combined loan - but they never bothered to do estimate the combined loan. I want them to drop the increase they are demanding I start paying on my XX/XX/XXXX payment.
Company Response: Closed with explanation

Timely Response

2018-11-05

San Jacinto, CA

Closing on a mortgage

Mortgage: VA mortgage

Complaint: My mom was doing a refinance on her house with a va rider and I signed attorney in fact on loan on XX/XX/2015 then the next day XX/XX/2015 I canceled the refinance quicken loans accepted the cancellation and so did the va loans in Az well my mom passed away next thing I know I get a payment statement in mail I call quicken loans and told them the refinance was canceled on XX/XX/2015 I was still within the three day cancel period. They tell me Im liable for loan cause I signed attorney in fact. They tell me well since we know your mother is deceased we will transfer grant deed to your name. So they told me this in XX/XX/2015 they didnt keep there word they foreclosed on the house after I had paid payments
Company Response: Closed with explanation

Timely Response

2018-11-01

Berkeley, CA

Improper use of your report

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Credit inquiries on your report that you don't recognize
Complaint: Multiple Hard Inquiries dragging down my credit score from this company XXXX XXXX XXXX Inquiry from XX/XX/2018 XX/XX/2018
Company Response: Closed with explanation

Timely Response

2018-10-30

Baldwyn, MS

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-10-26

Delta Jct, AK

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: I am a XXXX XXXX XXXXXXXX whose client was preapproved by Quicken Loans for a conventional mortgage loan. I sent the accepted earnest money agreement and purchase contract to their loan originator at Quicken and yesterday he emailed me and asked for my license number. Even though it was already on the contract I emailed that back to him. This morning my client, the buyer, called me to say that she had been called by Quicken Loans and told that she and her husband could only have the loan if they dropped me as their realtor. The Buyer asked why that was and was told by the loan originator that they didn't know. Buyer and her husband called back to Quicken and talked to two different people who told them that Senior Leadership at Quicken had made that decision and they didn't know why. I got the number for the lady at Quicken and called to ask why they had told my client to dump me if they wanted the loan. She said she couldn't tell me but that it was a decision that came from the very top of Senior leadership at Quicken Loans. We talked for maybe 10 minutes and she would never tell me why they were XXXX me. I have done deals where Quicken was the lender and have never had any trouble before like this. My client is trying to find another lender now and is very confused as am I. The lady at Quicken said I must know why they were doing this but I do not. I am a highly respected XXXX in my small town and have had no complaints against my license or character.
Company Response: Closed with explanation

Timely Response

2018-10-25

Shelby, NC

Applying for a mortgage or refinancing an existing mortgage

Mortgage: VA mortgage

Company Response: Closed with explanation

Timely Response

2018-10-25

Boston, MA

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-10-23

NJ

Problem with a credit reporting company's investigation into an existing problem

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Problem with personal statement of dispute
Complaint: On XX/XX/16 an inquiry was made by " Quicken Loans '' on my credit report. I do not recall making this credit inquiry, however after contacting Quicken Loans and asking for verification, they stated via email that the inquiry was made online through a third party lender they use known as " Rocket Loans ''. A subsequent request by me asking them to verify the inquiry by providing a copy of the application was denied. They stated in response to my request for verification " I apologize we will not be providing any additional documentation regarding this inquiry. All transcripts/ screen shots of the web session are proprietary to Quicken Loans and a part of our business records. '' I have verified my identity with them through my date of birth and SSN and still they will not provide me with verification of this inquiry. The point of contact who denied my multiple requests for verification was XXXX XXXX. The initial letter requesting verification was sent certified mail, I then received all subsequent communication via e-mail.
Company Response: Closed with explanation

Timely Response