QUICKEN LOANS, INC.
Consumer Complaints
There are over 2206 complaints on file for QUICKEN LOANS, INC.. Dated between 2019-12-10 and 2012-02-01.
Complaints Page 18
2018-09-21
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-09-21
Carmel, CA
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-09-20
Buffalo, NY
Applying for a mortgage
Mortgage: Other type of mortgage
Company Response: Closed with explanation
2018-09-19
Pacific City, OR
Closing on a mortgage
Mortgage: Conventional home mortgage
Complaint: I have been working with Quicken Loans, Rocket Mortgage, since early XXXX to purchase a home in XXXX XXXX, Oregon. Asking price was {$480000.00} but we talked them down to {$470000.00} and I was pre-approved while working with XXXX XXXX, Mortgage Banker, with a closing date of XX/XX/18. I have provided everything typically asked for such as bank statements, rental lease agreements, pay stubs, homeowners insurance policies, etc. 4 days before closing I am contacted by XXXX XXXX ( Senior Purchase Specialist (? ) and told my debt to income ratio was a little too high and that in order to improve my ratio, I need to take my non-working wife off the loan, show liquid assets to cover an {$8000.00} school loan I cosigned to help my cousin attend college, buy out my PMI, and buy down my interest rate from 4.375 % to 4.2 %, all for an increase in closing costs by about {$17000.00}. I was told I can either show liquid assets or show I'm a co-owner of a brokerage account with value over and above my liabilities. The next day, I speak with a XXXX XXXX, Solutions Specialist, and told that they can not move forward with the loan but can not tell me why. I am transferred to XXXX XXXX ( Executive Relations Specialist (? ) and told the same thing and that Senior management had made the decision, but she is not privy to the specific reason why. Meanwhile, my house is completely packed, my non-refundable one-way plane ticket is purchased, and the sellers are standing by waiting to sign since closing is 3 days away. After contacting XXXX, again, I am told she can send me a denial letter, and the reason for the denial is " Debt to income : non self-employed income not supported. '' In trying to confirm what this meant, I am told that it is up to my interpretation, and that when Senior management looked over the notes in my file, they decided that they were not comfortable moving forward with the loan but would not disclose the specific reason why. My Realtor spoke with XXXX and was told something different than I was told : I was dishonest with some information I gave them.
All I want is a specific reason why my loan was denied so I can at least move forward with piece of mind on what I can do better next time. I thought ECOA required lenders to provide a concrete reason to consumers when denied a loan. I have attached a copy of the denial letter and phone conversation as evidence to the above. Please let me know if anything else is needed. Thank you for taking the time to review my case.
Company Response: Closed with explanation
2018-09-18
Cherry Brook, MA
Improper use of your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Received unsolicited financial product or insurance offers after opting out
Complaint: PUNCHLINE : A SIMPLE QUESTION ABOUT INTEREST RATES TO QUICKENS MORTGAGE BUSINESS RESULTED IN A NIGHTMARISH BARRAGE OF CALLLS AND INQUIRIES FROM COMPANIES I NEVER HEARD OF AND NEVER EXPECTED TO HEAR FROM. THEY WERE SET IN MOTION BY QUICKENS UNILATERAL ACTIOPNS. THE PROCESS CRASHED MY CREDIT SCORE.
Quickens mortgage arm had made numerous unsolicited and unwanted calls to me about refinancing my home. I had no desire to refinance. Since they represented themselves as the best and biggest mortgage company in America, I casually asked out of curiosity what their loan rates were. I expected them to answer within a minute. Simple question, simple answer. WITHOUT MY KNOWLEDGE they contacted multiple independent financial institutions that subsequently bombarded me with requests for information as well as making HARD INQUIRIES ON MY CREDIT HISTORY. This CAUSED MY CREDIT SCORE TO DROP SIGNIFICANTLY. I had no intention to refinance. A simple by the way question about rates ended up as a fiasco based on unauthorized actions unilaterally taken by Quicken. Getting these many third parties to stop calling me was a nightmare. I couldnt get them to stop. They would call back after I delivered a version of READ MY LIPS, STOP CALLING. Some swore they wouldnt, only to have somebody else from the same bank call back two weeks later. Since none of them were from Quicken, there was no easy way to get the XXXX back into the cage. Each organization was acting independently to aggressively sell something nobody had asked for. No one organization could understand what the cumulative effect was of these calls. EXCEPT QUICKEN. Unless, of course, Im the only person in XXXX this has happened to. Hmmm .... I doubt it. How can you uncage multiple XXXX by farming out to multiple organizations a selling opportunity and not know that a customer is going to 1 ) be called multiple times, 2 ) have their credit examined, 3 ) be confused because they thought they were dealing with a single entity : Quicken.s What is maddening is that Quicken never answered my basic question about what their interest rates are for different mortgage sizes. If they actually do issue mortgages, I saw no evidence of it. What is undeniable is that QUICKEN CREATED A NUISSANCE FOR ME that resulted in actions from companies I had never heard of CRASHING MY CREDIT SCORE, something I have worked to keep high.
From Quickens mortgage businesss advertising and phone calls it seemed clear to me, and I assume others, that THEY issue lots of mortgages in a manner that earns them high customer satisfaction. I used their software and other online services for years and WAS very satisfied. My experiences suggested they were a straightforward, honest company and that any product they delivered would be a ) a good product, and b ) delivered in a manner consistent with customer well-being, and c ) would be what they represented it to be. I wasnt looking to refinance so my concern isnt about product quality it is about their ethics. My experience with their mortgage company DID - beyond hurting my financial score - leave me with the impression that they DO willfully misrepresented what they do, abuse customers privacy, waste time, create aggravation, duck accountability, cant stop the processes they themselves set in motion, and are no longer the company I once trusted. From my point of view, I wish they would stop doing what they did to me and promise to never do it again. Cease? Desist? From my experience in this nightmarish disaster, yup, sounds about right. MISREPRESENTATION? For me, you bet.
Company Response: Closed with explanation
2018-09-18
Roswell, GA
Struggling to pay mortgage
Mortgage: Other type of mortgage
Company Response: Closed with explanation
2018-09-17
Applying for a mortgage or refinancing an existing mortgage
Mortgage: FHA mortgage
Company Response: Closed with explanation
2018-09-15
Fort Worth, TX
Applying for a mortgage or refinancing an existing mortgage
Mortgage: FHA mortgage
Complaint: Trying to refinance with a company that is known for illegal actions. Quicken says they have all the info to refinance then, all of a sudden, drops it saying the present company has and shows late payment, after they say it is their fault for not notifying me of increased house payment. Quicken is just as irresponsible and as illegal as they are.
Company Response: Closed with monetary relief
2018-09-15
Stevenson, MD
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: I purchased a home XX/XX/2018. 7 months later I received a letter stating my mortgage payment is increasing $ XXXX/month due to an escrow analysis. I can not afford the increase in monthly payments and would not have signed for a loan with payments that high. I have open up an investigation case with my local tax office but it takes 30 days to get an answer. I do not want to get behind on my mortgage payment or it having a negative impact on my credit. The loan company states that can not do anything about the increase in payments.
I would also like to add XXXX XXXX to this case which is the local office who has done a 3 yr assessment increasing the taxes. I have only been in the home 7 months. The case number for them is Id # XXXX.
Company Response: Closed with explanation
2018-09-14
Getting the loan
Payday loan, title loan, or personal loan: Installment loan
Company Response: Closed with explanation
2018-09-13
Columbus, OH
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Complaint: On XX/XX/2018 I applied for a conventional mortgage loan with Quicken Loans. After discussing a few mortgage options with one of their Mortgage Bankers, I plainly stated I wanted a loan estimate on a 30 year conventional loan. I've now requested the loan estimate 3 times in writing and each time the Mortgage Banker has replied with a request to talk over the phone. His written reply to my third request is : " Yes I know what the loan estimate is. I have a big discount in your loan and to send the loan estimate we have to fully approve the discount. In order for my director to approve that, we need to know that you guys are willing to move forward. '' This process seems backwards to me and somewhat predatory. Why would I commit to a mortgage without first reviewing all the details of that mortgage.
Company Response: Closed with explanation
2018-09-13
Houston, TX
Closing on a mortgage
Mortgage: VA mortgage
Complaint: I applied for a Va home mortgage through Quicken Loans. I worked on it from XX/XX/2018, until I received a Full Letter of Approval on XX/XX/2018. This went through underwriting and they totally verified all my asset, credit, & debit. After receiving the Full Approval Letter I was guided through the closing process, I paid for inspections- {$740.00}, appraisal- {$500.00}, HVAC inspection- {$60.00}, Title Search Fee- {$1800.00}. On XX/XX/2018 I received a denial letter stating that they can not service the loan and this was 2 weeks before my closing date of XX/XX/2018. They have yet to give me a legitimate reason why they backed out on the loan. All they could tell me is that someone screwed up and dropped the ball. I am a XXXX-year-old Veteran not knowing where to begin so that I can purchase the home before it is sold to someone else. Quicken has not followed through with his promise of reimbursing me all of my money. They have not been honest with us from the beginning. XXXX XXXX is the Chairman of this company and I want to believe after reading his profile that he would not agree with how his company is dealing with his clients so unprofessionally.
Company Response: Closed with monetary relief
2018-09-11
Kachemak, AK
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: On XX/XX/2018 I received an unsolicited call from a lady with Quicken Loans. While she was on the phone she ran a credit report on me after I told her not to. She also assured me that nothing she was doing would affect my credit report. Later the " Hard Inquiry '' showed up on all three credit bureau reports under " XXXX XXXX XXXX. I contacted XXXX and they told me XXXX would have to send them a certified letter before they would remove this. I called XXXX and was told it was Quicken Loans problem not XXXX and they would have to remove it. XXXX again told me the letter would have to come from XXXX. I have tried repeatedly to reach someone at Quicken Loans about this and no one seems to have any idea who I need to talk to resolve this. I think this is very unethical that these people can just report this on your credit without some checks and verification. I every company I have ever worked for we had to have a signature on an authorization form before we pulled someones credit. I need this to be removed from all three bureaus as it was not correct.
Company Response: Closed with explanation
2018-09-11
Saratoga, CA
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Complaint: I answered an online add on or about XX/XX/2018 from XXXX XXXX XXXX claiming that I could save on my mortgage payments. I completed the online application. The site said that, if they couldn't offer a lower my rate, I would get a " prepaid {$250.00} Visa gift card. '' Please see the attached screen shot of this claim.
I presently have a loan that I recently got at 3.40 % for {$430.00} K, paying {$1900.00} per month, fixed for 30 years.
The answer I got on the online site was, as you can see, that my payments " could be as low as {$8000.00}! '' I called the number on the website and first spoke to XXXX in XXXX, MI. He then transferred me to XXXX at XXXX. I told him that his company should send me the {$250.00} gift card. He said, " Oh, that was only for loans to be funded only after XX/XX/XXXX of this year. '' I reminded him that there was no mention of that date on their advertisement, as one can see from the attached webpage.
Company Response: Closed with explanation
2018-09-10
Washington, DC
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Complaint: I have a mortgage loan with Quicken Loans for my main residence at XXXX XXXX XXXX # XXXX. Washington, DC XXXX. About XXXX this year, I thought of refinancing my loan with Quicken Loans, and also talked to XXXX. Both offers were not good to me, so I stopped. The problem is that after I stopped Quicken Loans state that they started receiving Payoff Requests from multiple sources that they can not identify and they are charging me {$25.00} per each of these requests.
I told them verbally and in writing that I am NOT refinancing my loan, and to STOP providing these information to anyone. They say thay dont know who they are, but they can not stop, either.
Please help me. I am being victimized. I am an elderly, handicapped woman and I can not afford this scam.
Thank you.
XXXX XXXX XXXX
Company Response: Closed with monetary relief
2018-09-10
Concord, NC
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
Company Response: Closed with explanation
2018-09-07
Niverville, NY
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-09-06
IN
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 visited Quicken Loans website to see what my financing options for a mortgage. I was more interested possibly in a bridge loan because my home is paid off and wanted to sell my home and put the money towards a new home. Not knowing about Quicken Loans, I only wanted a soft pull for what info I wanted to give them without my Social Security or making any offers. After giving my address, email, phone # and a credit rating, my phone started to blow up with phone calls. The 1st guy that called ( I believe XXXX was his name ) was rude and did not want to listen to my needs. It seemed as if he had a document that he was reading off and I was annoying him with my questions because I wanted to cut to the chase and get my answers. I ended up hanging up. What has upset me was that they have sent my information to several lenders and my credit score went down 7 points by a company called XXXX that looked at my credit score 2 times, XX/XX/XXXX & XX/XX/XXXX. I contacted XXXX and they said that they are affiliated with Quicken Loans and I should dispute my credit with them. I was recommended to a employee name XXXX XXXX, an Resolution Advocate and she said that she could not help me and that the other Lead Resolution Advocate XXXX XXXX that she was going to recommend me talk to, was not going to dispute or help me out either. That ... .is unacceptable and what set me off ... .Obviously Quicken Loans don't care about my needs and took advantage of me and my credit score that would of giving me a lower interest rate. I will NEVER deal with this company again! I will be filing my complaints and reviews on EVERY consumer website to let the public know about Quicken Loans and their associates and be warned. If they would of taken the courtesy to disputed my credit score, I would of let this go!
Company Response: Closed with explanation
2018-09-05
Bellerose Manor, NY
Closing on a mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-09-04
Long Island City, NY
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: Quicken Loans offer after the XXXX XXXX last year in Florida a break to help the customers that had damages and lost the tenants, the proposal from QL was not to make payments for 3 months and after that they will contact us and could be extended ; the offer was no late payments, no late fees and no damage on the credit report and the break on payments will not impact the mortgage amount, will be only freeze for the period need it and this months will be added to the mortgage period, all information was presented by phone no documents where received. For our surprise when we were ready to start payment we contact the company and they now send us a mortgage package for 40 years plus they add the interest ( around {$5000.00} increase ) that we haven't pay for those months to the principal and that was not what we agreed.
Loan number XXXX XXXX XXXX XXXX
Company Response: Closed with explanation
2018-08-31
Cantonment, FL
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-08-31
Gloucester City, NJ
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Account information incorrect
Complaint: on XX/XX/XXXX I sent Quicken Loans a letter asking them to investigate the inconsistent information that has been reported to all 3 credit bureaus.I sent them the information that is stated below. On XX/XX/XXXX I received a response from Quicken Loans saying they completed a secondary review of the account and they did not find any errors in the reporting. If there were no error 's why am I seeing inconsistent data across all XXXX credit bureaus?
XXXX Account # XXXX Monthly Payment {$1800.00} Date Opened XX/XX/XXXX No. of Months ( terms ) XXXX Payment Status Late 120 Days Last Reported XX/XX/XXXX Date Last Active XX/XX/XXXX Date of Last Payment XX/XX/XXXX XXXX Account # XXXX Monthly Payment {$0.00} Date Opened XX/XX/XXXX No. of Months ( terms ) XXXX Payment Status Foreclosure Last Reported XX/XX/XXXX Date Last Active XX/XX/XXXX Date of Last Payment XX/XX/XXXX XXXX Account # XXXX Monthly Payment {$360.00} Date Opened XX/XX/XXXX No. of Months ( terms ) XXXX Payment Status Late 120 Days Last Reported XX/XX/XXXX Date Last Active XX/XX/XXXX Date of Last Payment XX/XX/XXXX
Company Response: Closed with explanation
2018-08-29
NJ
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Complaint: Hello, During the origination process of my loan for my house that I bought, loan officer, XXXX XXXX from Quicken Loans, informed me incorrectly of the percentage of home value to loan value that I would need to have my pmi removed. The house I bought needed a good amount of work so I was deciding what percentage of down payment I would make. I had enough money at the time to make almost a full twenty percent down payment but wanted to do less so I could renovate the house. I knew that the house would rise in value significantly due to the renovations so I discussed with XXXX how I could remove PMI early. He told me that with a 5 percent down payment and figuring in about 6 payments that I would owe around 380,000 on the house. Base on a 80 percent home value to loan value ratio, I would have to reappraise the house at {$470000.00} to be able to request PMI removal. Well I decided that was feasible so I put down 5 percent, did my renovations and then called back quicken to request an appraisal to have my PMI removed only to be told that the the equation is based on a 75 percent ratio. I filed a complaint with them and they opened an investigation in which they said they found no proof of the conversation I had with XXXX so they could not help me. They suggested calling my loan holder Fannie Mae to see if they could do something for me. Fannie Mae did nothing because Quicken will not admit to their mistake. Now I am stuck paying an extra {$330.00} in PMI monthly due to Quicken loans mistake. I have been in touch with some of Quicken Loans vp of customer service, and magically today she admitted to me that she found a conversation where I was misinformed by XXXX XXXX. Now even though Quicken has found that they did indeed make a mistake they are still refusing to honor what they said, effectively screwing me out of a lot of money.
Facts : I have an appraisal in hand for {$480000.00} for my house.
I have bank statements from when the loan was originated to prove I could have put down at least 10 percent which would have allowed me to have the PMI removed at this point even with a 75 percent ration.
I will effectively pay over {$6000.00} in PMI that I shouldn't have to pay due to Quicken loans not informing me correctly.
I will in the near future not be able to pay the extra {$330.00} in PMI.
Please help me with these people as I feel as though I have been bamboozled by them. People in their position should be able to properly inform clients with the correct information when making a 30 year {$400000.00} dollar decision.
They should pay for their mistakes, I shouldn't have to.
Company Response: Closed with explanation
2018-08-28
AL
Applying for a mortgage or refinancing an existing mortgage
Mortgage: VA mortgage
Complaint: I applied thru Quicken Loans/ Rocket Mortgage to refinance my conventional loan with a VA Home Loan . Rocket Mortgage said the VA would not let me use my SSD as income because I have a Designated Payee. My VA XXXX does not have a Designated Payee, it is directly deposited into my checking account.
Company Response: Closed with explanation
2018-08-27
MD
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Complaint: These companies call 3-4 times a day I have told them I'm on the Do Not Call List. Under Maryland Law this is Telephone Harassment. I am retired XXXX XXXX, and would like compensation for these numerous violations.
Company Response: Closed with explanation