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 21
2018-07-03
HI
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: Quicken loans changed their loan conditions for no GOOD reason ( or one we could find out ) after 4 years saying that the employee that set up our loan 'made a mistake ' and we were supposed to be paying hurricane insurance which quadruples the cost of our overall insurance and makes the house NO LONGER AFFORDABLE to live in and now we have to sell. It is not right for them to change an agreement because someone screwed up because we based our decision to buy this home BASED ON THE AGREEMENT AND LOAN CONDITIONS THEY SPECIFIED at the time b/c what they offered made this an affordable purchase. We were told repeatedly ( which WAS WRONG and we PROVED it to them via our state insurance agent ) that the hurricane insurance was 'required by state law ' -- a total lie and proves their incompetence. We accepted this lie for a year and had to pay the increased insurance and then we got hit with a huge escrow bill that we have to pay. So we protested again this year, XX/XX/2018 when we got the nearly {$1700.00} bill and after we proved to them that it is NOT 'state law ' to require this insurance, we were then told that the 'investors require it ' but was NEVER answered about WHY, what basis are the investors using for this decision because if they are using the 'state law ' justification, it is not right or fair to do this to us. We have repeatedly asked them to honor their original agreement with us as they are a multi million dollar company and a couple thousand dollars isn't going to hurt them but it is hurting us to the point where we have to sell and move. They refused. Then we asked them to at least give us a break and split the difference with us to at least make up for their 'mistake '. They refused. All they would do is extend our payments. Big deal. We will still have to pay the full amount when we sell the house. Totally unfair. They told us basically that we should thank our lucky stars we weren't having to back pay for 4 years of hurricane insurance we were 'supposed ' to have. Please! If we had known of this requirement, we would have NEVER chosen to go with this company for the mortgage! They don't care about losing our business or the bad word of mouth and internet reporting they will receive. They NEVER answered us about the reason for the investors requiring this insurance and that is unacceptable. Their needs to be big justification for this forced changed if someone is going to lose their home over it!
If a company is allowed to change their agreement with consumers willy nilly or because of a 'mistake ' or a 'change in policy, ' that will end up amounting to bait and switch tactics and is unethical at the very least. They can always use these excuses then and get away with it.
Company Response: Closed with explanation
2018-07-02
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Information belongs to someone else
Company Response: Closed with explanation
2018-06-29
Magnolia, TX
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Complaint: Quicken Loans waited a week before closing to tell me my loan had been denied. This was after written approval from Quicken and over {$6000.00} in earnest money, appraisal, Survey and inspection fees. My loan officer XXXX XXXX assured me through out the entire process everything was ok with my loan. Because of Quicken Loans material misrepresentation of my approval I incurred fees to close the loan based on Quicken 's approval process. Worst experience ever!!
Company Response: Closed with monetary relief
2018-06-28
Oxford, GA
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Complaint: Quicken Loans/Rocket is running a shell game with inspection fees. They simply use data analytics to guesstimate the value of a refinance then up the value beyond the supportable valuation for the loan documents ; then collect the XXXX dollars which they then pocket when the valuation is a few dollars shy. There are hundreds of complaints on the internet, all with the same story. I myself fell for this deception and wanted to pass along a Waring, they do not deal in good faith and use the inspection process as a money maker. the ethics of the mortgage company providing these services for themselves is also highly questionable.
Company Response: Closed with explanation
2018-06-28
Watkins, CO
Closing on a mortgage
Mortgage: Conventional home mortgage
Complaint: When discussing the original loan estimate with XXXX XXXX XXXX # XXXX. She noted that in order to obtain my business, Quicken Loans would be offering {$3500.00} in lender credits, as well as Quicken covering the lender 's title insurance for my loan ( see email attached noting what Quicken would cover ). Multiple times during the call, I noted that it was {$3500.00} in lender credits AND Quicken covering the title full well knowing that a portion of title would be paid by the seller ( {$1000.00} as stated in our purchase agreement ). I signed the estimate disclosure which broke out the {$3500.00} in lender credits as well as {$910.00} in " Lender Title Insurance Adjust '' ( see attachment sent directly from Quicken ). I was under the impression that Quicken would be covering the roughly {$4400.00} in total closing costs per our discussion and the items signed. When I received my first closing disclosure, it was riddled with errors with Quicken trying to pass off seller paid closing costs as lender credits ( see attached ). It took numerous phone calls over a 3 day period to finally get any resolution. At that time my loan was ready to go and I received my final closing disclosure. As my current closing disclosure stands, when looking at total lender credits it totals {$3500.00} which incorrectly includes some title credits I thought were going to be in addition to the {$3500.00} I was receiving. Quicken is reporting the total seller paid title costs ( {$1000.00} ) as buyer paid ( {$910.00} included in section C. and {$160.00} included in section H. ) and then adjusting them out of the final cost to close ( which I should correctly not be paying ). The problem lies in that I was told per my estimate I would be getting {$3500.00} AND Quicken would cover lender title costs, currently in my closing disclosure it shows {$520.00} and {$570.00} in title lender credits, which is being incorrectly added into my lender credit total as those should be separate to lender credits. I spoke with XXXX 's boss, XXXX XXXX XXXX # XXXX, he stated that the {$910.00} in " Lender Title Insurance Adjust '' was always just Quicken backing out the seller paid portion of title which was not directly addressed to me when I signed for the original estiamte. The email, as well as the signed estimate disclosure mislead me to believe that I was in for a larger amount of closing cost covered that was actually given. I am due to close on in 1 business days and therefore do not have the time to discuss further and can not pull the loan now as it will jeopardize the purchase of the house.
Company Response: Closed with explanation
2018-06-27
KS
Written notification about debt
Debt collection: Mortgage debt
Didn't receive enough information to verify debt
Company Response: Closed with explanation
2018-06-27
Sarasota, FL
Applying for a mortgage or refinancing an existing mortgage
Mortgage: FHA mortgage
Complaint: I started a loan application with Quicken Loans. I was pre-approved for up to $ XXXX. I submitted a few offers before coming to terms with a seller on a particular home. Quicken Loans sent me a breakdown of my estimated monthly payments, which was supposed to be $ XXXX/month. I proceeded with the loan process and had everything completed in regards to my application up to that point. I went on to get an inspection and appraisal of the home. The inspection came back with aluminum wiring ( which needed to be replaced with copper ) in the home, which made it very hard to come within the homeowners insurance guidelines I had contingent upon in my offer. They then decided to switch my FHA over to a conventional, called me and lied to me saying that I would be getting " better financing ''. They knew that since problems arose with the inspection, they weren't able to use the FHA. Then, my monthly payments jumped up to $ XXXX/month and that doesn't even include the high homeowners quotes that I had received in regards to this home. I made the offer contingent on inspection, and insurance costs. I pulled my offer at that time. Quicken Loans then sent me a " denial letter '' based on the reasoning that I had an incomplete credit application, which couldn't be farther than the truth. I lost my earnest money, {$2000.00} because of the lies and unethical behavior from each and every person I spoke to in trying to resolve this issue. They went as far as ordering the appraisal, but when I pulled my offer they close me out due to incomplete application? That doesn't make a bit of sense. The very next day, my purchase banker opened up a whole new loan with a new approval letter. But yet, 24 hours prior, denied me due to incomplete application? Its not right what this company has done to me, I am a first time home buyer and I am completely traumatized.
Company Response: Closed with explanation
2018-06-22
Omaha, NE
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: We refinanced our mortgage through Quicken Loans on or about XX/XX/XXXX ; LOAN ID # xxxxxxxxxx. Earlier in XXXX, there was a lot of weather related damage to properties in XXXX, XXXX. So, consequently ; our hazard insurance premium for our home in XXXX, XXXX, increased quite substantially. Being in our seventies and on social security, we are used to working with a meager budget. So, to stave off a large increase in our monthly mortgage payment ; we sent in a personal check in amount of {$240.00} for our escrow account to the Quicken Loans payment center ATTN : Escrow Department, at XXXX. XXXX XXXX, XXXX XXXX, XXXX XXXX. This amount would cover the increase in premium for XX/XX/XXXX ; hazard insurance premium payment ; and, the other half would pad the escrow sufficiently for XXXX and keep our monthly mortgage payment about what we have been currently paying. We sent the check and cover letter via first class mail certified with return receipt as we could ill afford to have this check lost or misplaced. Certified article # XXXX. According to U.S. Postal records, the article was received by an authorized courier XXXX XXXX - XXXX on XX/XX/XXXX ; at XXXX XXXX local time. The post office sent us back the signed return receipt article # XXXX. On XX/XX/XXXX ; we contacted XXXX XXXX at Quicken Loans to ascertain whether our check amount had been properly applied to our account. We were transferred to a XXXX XXXX in the Corporate offices who allegedly had a team, including two attorneys looking for the check. On XX/XX/XXXX ; she called us to state that they did not locate the payment/check. She further advised us to stop payment on the check ( no offer to defray our expense for that service ) and we could allow them a one time no charge EFT for the amount or we could sent a replacement check to the same payment center address above. This has us extremely upset ( against doctors ' orders ) and financially burdensome and stressful to have to under go this additional processes with some corporate mopes who we probably can not and/or should not trust to electronically get into our bank account to mess things up further for us.
Company Response: Closed with monetary relief
2018-06-21
Coosada, AL
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: I financed my house with Quicken Loans and Allowed them to run my credit twice yet I have 8 credit inquiries from this company disguised as other companies such as XXXX XXXX on XX/XX/XXXX, XXXX XXXX XXXX on XX/XX/XXXX and XX/XX/XXXX, and as XXXX on XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX. While the dates in XX/XX/XXXX I admit to because I was trying to buy a house and, XX/XX/XXXX when i let them check it for a refinance opportunity, the rest were not authorized. I spoke with them regarding this situation multiple times and was told that even though they have no proof that i gave them permission to run my credit that they would not remove the inquiries because they didn't have to.
Company Response: Closed with explanation
2018-06-20
DE
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Complaint: I was told on the phone that only if I proceeded with the mortgage application to the next step my credit card will be charged. I informed the agent ( XXXX XXXX ) that I did not want to proceed with the mortgage application on XX/XX/XXXX. I was confirmed on the phone multiple times that they will not charge my card until I asked them to move forward. On XX/XX/XXXX, after a week I see a charge for {$31.00} on my XXXX from Quicken loans! For an application, I did not proceed with.
Company Response: Closed with explanation
2018-06-20
FL
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Complaint: I applied for a refinance in XX/XX/2018. Started the process with a gentleman name XXXX XXXX. After several calls and days, XXXX calls me and said he needs to collect {$240.00} from me. I asked why and he said it was a good faith to make sure I was serious about moving forward and that I would get the money back at closing. I said that will be fine.
About a week or so later an appraisal was done. The appraisal came in real low and was incorrect. Because of this XXXX XXXX from Quicken Loan said the original refinance agreement could not be met and I had to come out of pocket a lot of money in order to refinance. I told XXXX the appraisal was incorrect but he said they couldnt do anything about it. I told him that I wanted my money back since they could not proceed with what was agreed. XXXX XXXX told me he couldnt refund the money as that was used toward the appraisal and that XXXX XXXX was supposed to have collected {$500.00} from me as that was the cost of the appraisal. I told XXXX that XXXX told me that money was a good faith payment to make sure I was serious in proceeding but XXXX said that was incorrect.
I have since gone to three other banks for the refinance. Two of the banks paid for the appraisal and told me that if the loan goes through I would pay it back at closing.
Quicken Loan appraisal came in at {$110000.00} XXXX appraisal came in at {$130000.00} XXXX XXXX XXXX came in at {$140000.00} XXXX XXXX XXXX notified me up front that I would need to pay {$480.00} for the appraisal before proceeding.
I should have been told by Quicken Loan that I needed to pay for the appraisal up front. If this was for the appraisal then I should have been told to pay {$500.00}. I dont understand why XXXX collected {$240.00} and said it was in good faith if it wasnt. The amounts do not equal up. I shouldnt be responsible to pay for an appraisal that was done incorrectly. After the fact I looked at the XXXX XXXX XXXX ( XXXX ) and noticed many complaints for the same exact reason. They were told that the money was in good faith and then they kept it. This is a sneaky way of taking peoples money and Quicken Loan being such a huge mortgage company should not be treating potential customers like this.
I have since refinanced my home with another bank that treated me great with no money out of pocket. If anything, I received money from my refinance. I am looking to collect my {$240.00} back from Quicken Loans.
Company Response: Closed with explanation
2018-06-20
Terrell, TX
Struggling to pay mortgage
Mortgage: FHA mortgage
Company Response: Closed with explanation
2018-06-20
Durham, NC
Applying for a mortgage or refinancing an existing mortgage
Mortgage: FHA mortgage
Company Response: Closed with explanation
2018-06-20
Grosse Ile, MI
Closing on a mortgage
Mortgage: Conventional home mortgage
Complaint: I was notified by mail on XX/XX/2018 that my mortgage loan was purchased by XXXX XXXX on XX/XX/XXXX My original mortgage was through Quicken ; I closed on my new home XX/XX/XXXX. My loan was only with the original company I CHOSE for LESS THAN 2 MONTHS! Upon conducting some research, I learned that legally both the old and new servicer must notify me about the transfer of my servicing rights no less than 15 days before the effective date of transfer. I never received the servicing transfer notice, so I'm filing this complaint with the CFPB. Additionally, XXXX XXXX couldn't even be bothered to update my mailing address to the purchase address ( this should be a given, common sense! ) so I received the notice of them purchasing my loan over 30 days after it was sold because not only was it sent to my old address but it was sent out on XX/XX/XXXX. This is not right, these huge corporations need to be held accountable for the ways they take advantage of everyone! When is the corporation going to be held accountable/responsible and where is the protection for the consumer??
Company Response: Closed with explanation
2018-06-18
Improper use of your report
Mortgage: Other type of mortgage
Company Response: Closed with explanation
2018-06-14
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-06-14
IL
Applying for a mortgage or refinancing an existing mortgage
Mortgage: FHA mortgage
Complaint: My spouse and I contacted Quicken Loans for refinancing our current mortgage. We were told that we could only qualify for an FHA loan. They were very pushy about collecting the {$500.00} appraisal fee and warned us that their offer would expire if we didn't pay soon enough. We contacted another lender and were approved for a conventional loan. When we contacted Quicken and told them we were approved with another lender and did not want an FHA loan, they initially said they would review our information and see what could be done. They contacted us again and told us that " no one '' would do a conventional loan because of the small amount ( $ 50K ). The woman LAUGHED at us and said " Well if they ( the other lender ) think they can push this though as a conventional loan, more power to them, but don't be surprised when everything falls apart at the closing. '' We closed with the other lender without any problems. This is predatory lending and pressure tactics, people need to know what Quicken is doing.
Company Response: Closed with explanation
2018-06-13
Melbourne, FL
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-06-13
Laurence, KS
Closing on a mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-06-13
Rose Hill, TX
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with monetary relief
2018-06-12
East Millstone, NJ
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-06-11
Warsaw, MO
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-06-08
Miami, FL
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with monetary relief
2018-06-07
Fred, TX
Applying for a mortgage or refinancing an existing mortgage
Mortgage: FHA mortgage
Company Response: Closed with monetary relief
2018-06-07
Beekmantown, NY
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation