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 3

2019-10-18

Detroit, MI

Closing on a mortgage

Mortgage: FHA mortgage


Company Response: Closed with monetary relief

Timely Response

2019-10-18

Taft, OH

Improper use of your report

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

Report provided to employer without your written authorization
Company Response: Closed with explanation

Timely Response

2019-10-17

Arco, CA

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage


Company Response: Closed with explanation

Timely Response

2019-10-17

N San Juan, CA

Applying for a mortgage or refinancing an existing mortgage

Mortgage: FHA mortgage


Complaint: I recently applied for an FHA refinance mortgage with Quicken Home Loans on XX/XX/19 or earlier. My mortgage broker has let me know that Quicken has really struggled with new loans registering at Quicken and their set up process. They are also offering interest rate lock timeframes that they are not able to close loan applications within. But thats not the main issue. The issue is that they make you use one of their appraisal management companies, in this case the appraisal was ordered on XX/XX/XXXX and was not completed until XX/XX/XXXX. On that date the Broker received a notification that the appraisal was completed and available for download. The broker downloaded the appraisal and it said " AS IS '' so no repairs were required. Timing was a little tight but we had enough time to close before the interest rate lock expired on XX/XX/XXXX. Then on XX/XX/8, 9 days after the complete appraisal report was delivered to the broker ; Quicken posted a new loan condition that the appraisal was now " Subject To '' and listed a minor repair. 9 days later. And no one even told the broker about it! He happened to look in the file and saw it had been posted. Quicken has since removed the original appraisal report so that it can not be accessed but the broker saved the original copy. By waiting 9 days to make a change to a completed appraisal ; Quicken effectively blew my interest rate lock out of the water. The mortgage broker was without power for 4 days including the day the lock expired. He asked Quicken to cover the re-lock fee ( about {$1100.00} ) in light of the situation. Quicken refused putting the blame back on the broker. They then cut off the broker from doing business with them ever again. The broker has continually asked that they make this right for me and they continually refuse and put the blame on the broker. Also, interest rates have gone up since my loan and interest rate were originally locked in so Quicken knows they hold the cards and by not honoring my original lock they are now making more money in fees. Another {$1100.00}. Based on what the broker has told me about this happening to multiple other clients and how Quicken handled my application it looks like they are intentionally causing their clients to need lock extensions and re lock fees. This is predatory lending. We have tried to get them to make this right and they have refused. They have scoffed at us for threatening to file a complaint with CFPB. The two individuals we dealt with at Quicken were XXXX XXXX and XXXX XXXX. When asked to speak to another supervisor XXXX XXXX responded that he has the final say.
Company Response: Closed with explanation

Timely Response

2019-10-16

Las Vegas, NV

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage


Company Response: Closed with explanation

Timely Response

2019-10-16

Oakland, CA

Closing on a mortgage

Mortgage: VA mortgage


Company Response: Closed with explanation

Timely Response

2019-10-15

NJ

Trouble during payment process

Mortgage: FHA mortgage


Complaint: XXXX XXXX ( XXXX ) To : you Details AFFIDAVIT OF TRUTH Indeed, no more than ( affidavits ) is necessary to make the prima facie case. United States vs. Kis, 658F.2nd, 526, 536 ( 7th Cir. 1981 ) ; Cert Denied, 50 U.S.L.W. 2169 ; S> Ct XX/XX/XXXX XX/XX/XXXX For and on the record I hereby certify and swear the following statement is the Truth and nothing but the Truth. My name is XXXX XXXX and contacting and asking your company for help in the following issue : I am part owner through life estate of a property shared with XXXX XXXX XXXX, which is located at XXXX XXXX XXXX XXXX XXXX, New Jersey XXXX XXXX County. This property was used in obtaining a mortgage on XX/XX/XXXX. The mortgage amount was {$200000.00} with a 30-year fixed interest rate of 3.990 % - 132 months through a Quicken Loans Company located at XXXX XXXX XXXX, XXXX, Michigan XXXX. Mortgage Banker XXXX XXXX ( Please See Attachments ) was the closing agent for the title company, XXXX XXXX, XXXX. This company performed the title search on the property of XXXX XXXX XXXX XXXX XXXX, New Jersey XXXX dated XX/XX/XXXX and at that time the deed read in the following way ( Please refer back to attachments ). Hence, it was a direct endorsement approval for a HUD / FHA-insured mortgage - Loan number XXXX. On or about XXXX/ XX/XX/XXXX, XXXX XXXX XXXX went back to the same company Quicken Loan for a refinance. At that time, we were informed that the property could not be refinanced because of the life estate that was on our property and as a part of Quicken Loans policy. Specifically, according to this policy, they will not refinance or mortgage any property that has life estate attached to it. Being informed of this information that was not revealed or made known to Miss XXXX or myself, Mr. XXXX, when our home was first financed of this policy has shown a lack of transparency. Being that this contract is lacking or missing pertinent information for it to be formed and legitimate causes the note of said contract to be unenforceable. This oversight has created a bilateral mistake inside the body of said contract, which makes the subject matter ( Deed ) that the title company, XXXX XXXX XXXX./XXXX XXXX liable for said mortgage contract, which binds Ms. XXXX to this illegitimate debt. In order to cure this matter, I am proposing the following to be done : All monies paid from XX/XX/XXXX to the present into this illegitimate contract be returned to Mr. XXXX XXXX XXXX and Ms. XXXX XXXX XXXX with intertrest, without prejudice. Since being told that we can not refinance our home, we are receiving emails from same title company, using a different name XXXX XXXX from Mr. XXXX XXXX, that informed me Mr. XXXX that XXXX and XXXX XXXX are one of the same. I am concerned that different individuals are trying to ignore or bypass our issue and act as if it did not occur or exist. Please click on link for attachments https : XXXX Reply Reply All Forward
Company Response: Closed with explanation

Timely Response

2019-10-15

N Hollywood, CA

Unable to get your credit report or credit score

Mortgage: Conventional home mortgage


Complaint: NOTE : This problem is actually related to a conventional mortgage application/transaction ( not to a credit report ) - but the system would not let me go forward because I did not have either loan or account numbers ( I terminated the process before that point ). So I have checked other boxes in order to submit this complaint as follows. ) I contacted Quicken Loans in XX/XX/XXXX to inquire about a conventional mortgage and determine current lending rates. " XXXX '' took some basic information from me and gave me preliminary interest rate information. Within a day or two and after two phone calls, I informed him by phone and email I did not want to proceed. From that point forward over a period of two weeks, he continued to phone and email despite my repeated and clear statements to STOP and finally explanation should he continue to harass me intent to complain to the regulators. He did not stop. I further asked him to remove my information from Quicken 's files and cease all further emails. He stated in an email that had been done ( it was not ). then on XX/XX/XXXX in the mail, I received an entire " Intent To Proceed '' loan package from Quicken. This constitutes harassment and predatory lending practices. It must be stopped.
Company Response: Closed with explanation

Timely Response

2019-10-15

Applying for a mortgage or refinancing an existing mortgage

Mortgage: FHA mortgage


Company Response: Closed with explanation

Timely Response

2019-10-14

NV

Struggling to pay mortgage

Mortgage: Conventional home mortgage


Complaint: We were awarded {$100000.00} by the Nevada XXXX XXXX XXXX on XX/XX/, 2019, Quicken Loan advised us that they received the funds on XXXX XXXX, 2019 however the company still has not connected us regarding recast or how the {$100000.00} has been applied to our account, Quicken has not sent any letters stating that the foreclosure process has been stopped, we have emailed and called several times since XXXX XXXX, 2019 requesting to know what our new mortgage payment will be, on XX/XX/, 2019 we receive a letter in the mail from Quicken stating that our mortgage payment has not increased but has now increased to {$1900.00} from {$160000.00}, no explanation has been given as to how the money that we awarded has been applied to lower our monthly mortgage payment, we can no longer wait to hear from Quicken because we received a letter earlier stating that foreclosure proceedings will continue unless the past due amount on our loan is brought current, there is no way that we can pay {$1900.00} when we struggled to pay {$1600.00}, we keep calling and writing and Quicken keeps sending us letter about their Application for Success program, no told Quicken twice that we only want to move forward with the Nevada XXXX XXXX XXXX, our mortgage appears to now be on the dual track towards foreclosure.
Company Response: Closed with explanation

Timely Response

2019-10-14

Patterson, MD

Closing on a mortgage

Mortgage: Conventional home mortgage


Complaint: I have been through an extremely difficult closing process with Quicken Loans Inc. NMLS XXXX XXXX and have had issues with my servicer of previous loan XXXX XXXX NMLS # XXXX. First they took over 6 months to process the loan. I understand that refinance volume is up but over 6 months is way to long. We eventually get to closing, and the first time we schedule closing my name is mispelled on the loan application. You would think that the underwriter would see that the loan application has my name incorrectly spelled since they had all of my income verification documents in file. I am guessing the underwriters at Quicken do not review anything. That is a concern. So the first closing was scheduled for XX/XX/XXXX with the incorrect name. We rescheduled the closing for the next day at a large inconvenience to my family. We planned to go out of the country on XX/XX/XXXX and the loan was expected to fund earlier in the week. The loan did not fund because something was signed incorrectly. I was not called or informed about this issue until I had to call in and figure out why the funds did not disburse. Once I stayed on hold for 1 hour I finally found out what the issue was. I had to speak with a few different people to figure this out. Mind you I was traveling out of the country that day. The stress of this situation was unfair to my family and people I was traveling with. Loan Disbursed XX/XX/XXXX, and I figured everything would be fine. I set up my automatic payment with Quicken and I thought that was it. On XX/XX/XXXX my wife the co borrrower gets an email saying XXXX has marked us 30 days late. So I call XXXX and they say they have no received the full funds to clear this loan of their books. After an hour and half hold the customer service agent at XXXX tells me that they never reached out about this. I call XXXX ( Quickens partner Title Company ) and they pass blame on Quicken and say " it is up to the lender to call me and let me know. '' They were not the title company I chose that was the title company they pushed on me from application. They told me on the phone that they tried calling me on XX/XX/XXXX to fix the shortage issue. I never recived a voicemail or a call. The pressing issue is that my credit and my wife 's credit is damaged because these companies did an awful job of communicating and if it was not for me calling each company I would have continued to be late. I do not think it is right that my loan is marked 30 days late when it was Quickens responsibility to pay off the mortgage with XXXX and when it didn't go through. The issue is due to a lack of communication inside of Quicken. The shortage in funds needed to pay of XXXX came from a incorrect escrow analysis. The funds for the closing of this loan were never sent back to Quicken from XXXX. They were notified on XX/XX/XXXX but no one wanted to call me to fix the issue.
Company Response: Closed with explanation

Timely Response

2019-10-11

Colfax, IN

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage


Complaint: I applied for a refinance with Quicken loans in mid XXXX. I was told the terms would be 3.99 % {$100000.00} loan with 2.125 % points, with those terms, I agreed to put a " good faith deposit '' down of {$500.00} ( no one from Quicken told me that they could change the rates and terms after I put the deposit down ). Our appraisal came back at {$140000.00} and all of the sudden all rates and terms changed. ( I went to XXXX XXXX Mortgages and once again had an appraisal done 1 week later and it was {$160000.00}, {$37000.00} more! ). Anyway, Quicken changed my rates and terms no less than 5 times, even changing terms 2 times in one day! I thought good faith meant good faith by both parties. Their actions were not fair and entirely too confusing. Even my loan officer said she did not know what was going on. Of course, I no longer felt comfortable letting this company deal with my mortgage so I went to Ruoff and closed within a few weeks with no issues, but I am now out {$500.00} with Quicken and they refuse to return it. During this process, we also received calls from several different people from Quicken after we told them that we no longer wanted to work with them and some were even threatening, saying since we already applied with them, no other company would take us and we should just go with them. I don't think it is fair that I signed the " good faith deposit '' saying I liked the terms and wanted to proceed, yet they did not show " good faith '' back by changing terms over 5 times for no apparent reason. I think I should get my deposit back, as I did what I was suppose to do, they were the ones who did not. If this is allowed to continue, they could tell customers a false great rate and terms, take their money, then change terms and customers either have to accept the new terms or lose their money, it is not fair.
Company Response: Closed with explanation

Timely Response

2019-10-11

OH

Trouble during payment process

Mortgage: FHA mortgage


Complaint: When refinancing your mortgage goes wrong. Quicken Loans is in the practice of extending refinance offers to consumers by fudging the numbers and despite them making errors and acknowledging the errors made, I am stuck to pay for the mistake, a cost of {$800.00} in reduced escrow balance and one Quicken Loans is refusing to pay for and has left the cost on me. Back on XXXX, I decided to make the leap and purchase a home. Originally, I wanted to go with a mortgage company that was local to the XXXX area, but I opted to procure my mortgage with Quicken Loans. The process seemed pretty easy as I worked with my realtor and I proceeded to find a home that fit my budget and my needs. I closed on my home on XX/XX/XXXX and made sure to pay my mortgage every single month ( {$1000.00}. ) In XX/XX/XXXX, Quicken Loans was hosting a contest to win {$2000.00} for the summer. One of the conditions of the contest was to learn more about the mortgage or refinance process. Since I already had a mortgage, I opted to learn more about refinance process. Once I clicked that button, that started a phone process where a refinance agent attempted to call me. The first few phone calls I did decline due to scheduling, but I did accept one of the phone conversations on XX/XX/XXXX. At that time, I spoke with a XXXX XXXX XXXX phone : XXXX ) During the call, he advised that he could get me lower rates and would need to run my credit in order to verify. At the time of the call, my credit was ran and the credit score was shared with me. XXXX then shared some more information with me regarding a streamline loan process and advised the rates of my loan could be lowered from 4.865 % to 4.125 %, which would lower my monthly payment. He also advised that there wouldnt be any appraisal needed and that there would be limited to ZERO money down for the refinance. I also shared some details with XXXX regarding an employer partnership program that my employer had with Quicken Loans and how that discount could apply to my closing cost. XXXX did ask for additional information, which I sent over via email on XX/XX/XXXX. XXXX informed me that he would need to do some more research and would call me back to let me know if there were any other rate options. I told him that I would consider some of the details he shared and try to determine my next steps. During this time, I still made my XXXX mortgage payment to ensure my mortgage stayed current. Later on the evening of XX/XX/XXXX, XXXX called me back and shared with me what the payment options would be. At the time of the call, I told XXXX that I would want to take some time in order to determine if Quicken Loans were the best for the refinance process. During that call, XXXX seemed to be a bit tense and persistent with trying to ensure me the rates offered by Quicken Loans were the best and should prevent me from needing to shop around. At that time, I decided to concede and allow for the refinance process to continue and completed the e-sign documentation. On XX/XX/XXXX, I received email correspondence that was related to the refinance loan application and on XX/XX/XXXX, I received an email from XXXX XXXX XXXX regarding my refinance information and title insurance. From XX/XX/XXXX until XX/XX/XXXX, there was very little contact made with me during this process. There were no details shared with me regarding status of the refinance, rates, or any other details. At that point, I became extremely frustrated with the process, including some misinformation received and the lag time of details being shared and communication not being maintained with me. In the midst of the refinance process, I received a phone call on XX/XX/XXXX from XXXX XXXX XXXX XXXX x XXXX ) a Resolution Advocate from Quicken. During this call with XXXX, I shared my frustrations with her and she was able to share the concerns and feedback I had with the additional Quicken Loans staff. XXXX told me the approximate timeframe of my close date and the first payment of my mortgage. Because the dates were misaligned with my home owners renewal date, I inquired about what would happen with my policy and which loan would cover the renewal payment. XXXX asked for the policy information, which I sent over via email ( email confirmation given on XX/XX/XXXX. ) XXXX advised that she shared the renewal policy and the premium information with the Homeowners Team so they could factor the information into the premium and confirm the numbers. On XX/XX/XXXX, I received an email confirmation advising that my documents have been received. On XX/XX/XXXX, I was then told via email that my closing packet was ready online and that it was time to schedule my closing date. I signed all of my closing documents on XX/XX/XXXX and was prepared to make my first payment related to my refinance on XX/XX/XXXX for the amount of {$940.00}. I was told that everything was taken care of and was even given a refund of {$40.00} from my existing mortgage ( check has yet to be processed by me. ) On XX/XX/XXXX, I received an email from my homeowners insurance company ( XXXX ) advising that my renewal payment had never been received. Since I was going on vacation out of the country on XX/XX/XXXX, I planned to follow up on the renewal payment on XX/XX/XXXX. I retrieved my homeowners policy information directly from the website and confirmed that payment had not been rendered to my homeowners policy. Once confirmed, I called Quicken Loans to try to understand the misunderstanding and better understand if the payment had crossed in the mail. On XX/XX/XXXX, I spent nearly 2 hours on the phone, was transferred 7 times, and was told different information by several different employees. During this call, I was informed by XXXX XXXX XXXX XXXX ) that Quicken Loans originally issued a payment to XXXX, but that Quicken Loans placed a stop payment on this check. This then prevent my homeowners policy from being paid. XXXX also informed me that because it appeared a payment was made by the system, that the refinance amount was understated and that I was now responsible to pay for the homeowners policy myself. I will admit, I was beyond XXXX and frustrated that I was now being asked to double pay for insurance due to the fact I had already made the payments with my original mortgage and that now I have to pay an additional {$800.00}. I became very irate at the dismissal of my financial needs and that fact that I was now responsible to pay for the insurance myself. XXXX was able to get a payment overnighted to my insurance company since my renewal policy was due to renew on XX/XX/XXXX, but I now have an escrow account that is understated. I was left with no options despite Quicken Loans being responsible for the error. I was very XXXX off and asked to speak with someone else. I was told that I would be called after the holidays. I received my first call on XX/XX/XXXX and my last call on XX/XX/XXXX from the escalated consultant and was told that Quicken Loans did in fact make an egregious error but that there was nothing that Quicken Loans would do to assist me. I even asked for some monetary compensation to be provided by Quicken Loans in the amount of {$500.00} at minimum directly to my escrow account would be helpful, but again, Quicken Loans only told me that its now my responsibility to pay for the deficiency of my escrow account despite this being a Quicken Loans error. I am stuck with paying for the {$800.00} balance over the course of 24 months, which has raised my recently lowered refinanced payment higher than what was budgeted.
Company Response: Closed with explanation

Timely Response

2019-10-10

Nashville, AR

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage


Complaint: I have been with quicken loans for years. I am selling my house to my daughter and I have found another house to buy. I was pre-approved and at no time was I. told there was a problem with finances. I submitted my social security XXXX and also my long term XXXX through my work I was at for 20 years. No problem. I have paid to have an inspection on the house I am buying, {$500.00} to quicken loans and {$2000.00} to paint the outside of. my current home So I could sale it. I have done all paperwork, including insurance policy and we are supposed to close XX/XX/XXXX. For the last 2 weeks they have been telling me they had to have a letter from XXXX XXXX saying I would receive this income for 3 years. No one can guarantee ( XXXX or not ) if they will have the same job or paycheck for the next 3 years. No one. My credit score is XXXX and I personally think this is discrimination against me. Please help me because on. XX/XX/XXXX I will have no home. The man selling his house to me has also spent a lot to make repairs on the home I am buying from him. Does this mean I can never buy another home because I am XXXX? Please help me. I am selling my home for {$80000.00} and buying the other house for {$110000.00}. If I don't reinvest the money into a new house It will be turned in as income and I will lose all equity paying taxes. Please help me. I don't have long and even though it has gone this far the loan officer called this morning and said if I don't prove the income will last 3 years I can not get my house. Again, no one can guarantee that.
Company Response: Closed with explanation

Timely Response

2019-10-10

San Angelo, TX

Applying for a mortgage or refinancing an existing mortgage

Mortgage: FHA mortgage


Complaint: I had a loan in process with quicken loans they assure me everything is ok your loan is approve before we close they said I needed to deposit an extra XXXX dollars on my account I told them I didn't wan na do that so I decided to use another lender I ask quicken loans to transfer my appraisal the problem is that when they transfer my appraisal they put denied instead of withdraw just for this reason the new mortgage told me that by fha rules your debt to income needs to be much lower which it doesn't make any sense a contacted quicken loans asking them to please change it to withdraw I spoke to XXXX XXXX she was REALLY ARROGANT I told her this is my third loan with your company which she didn't care it doesn't take nothing away from your company the biggest loan company to change it I told her but she said just no that she didn't care if I can't get the house just because I went with a different lender I think this was done maliciously and on purpose by quicken loans because they know my situation and they know the fha rules that allow them to treat people like this, my biggest point is that it doesn't take nothing away from quicken loans the biggest lender to change the appraisal so I can get the house that i need for my family I'm also loosing money and been embarrassed please stay away from quicken loans
Company Response: Closed with explanation

Timely Response

2019-10-08

Bayway, NJ

Trouble during payment process

Mortgage: FHA mortgage


Complaint: contacted Quicken loans on XX/XX/2019, and asked them to run an escrow analysis ( our escrow account was short {$3700.00} on XX/XX/2019 due to an inflated property tax assessment, which we have hired a lawyer to help reduce the taxes, as a result our mortgage increased by {$600.00} ) Quicken loans paid the {$3700.00} to our borough and allowed us to pay it over 12 months. Their Escrow team advised us that each time we have paid at least {$1000.00} of the overage to call them and request an escrow to be run. So when I spoke to them on XX/XX/2019, they told me that my payment would decrease down to about XXXX as a result of them re-running analysis, and it would be effective XX/XX/2019. This was great news, since my husband had just lost his job, but luckily started a new position this week, we were looking forward to the payment reduction. I was advised I would receive an email notification within the next couple of days, and a letter in the mail. We have gone through this process with Quicken loans before and have always received the notifications. About a week later I called them back since, I didn't receive any notifications and I was advised it is still being processed. I call back again in week 's time since I still didn't receive a notification, and demanded to know why the analysis wasn't processed. The representative was not eager to help, so I asked to speak with a Supervisor. I was then advised she 'would email ' the department who runs the analysis to see why it hadn't been run. I expressed my dissatisfaction, and was very worried about the lack of service they provided at this point. This call took place on or about XX/XX/2019. I received an email on XX/XX/2019 advising that since my account was under a payment modification, this is why analysis wasn't run. I demanded to know why quicken loans enrolled me in payment modification when I called them in mid XXXX to advise them that we wanted to decline this option. We never sent them any signed documents, and was extremely upset that they enrolled us in modification I told them we didn't want. I received a call from XXXX from their 'Executive Office '' who said she was sorry that no one knew what was going on, and she has no idea why the modification was added to my account, but advised the modification would still take place on XX/XX/2019 although she went back and reviewed all the calls and confirmed all the agents has misinformed us, and Quicken loans dropped the ball several times. I asked her if she could credit the difference between the payments for one month, since their errors caused the new payment to start in XXXX instead of XXXX and she advised there was nothing she could do to help. It is extremely unfair that Quicken loans can give blatantly false information and do whatever they'd like and not be held accountable, or take any steps to resolve the hardships they create for their clients. we will be refinancing once our situation improves with another lender and will take to every social media website and blog to share our experiences.
Company Response: Closed with explanation

Timely Response

2019-10-08

Oxford, GA

Closing on a mortgage

Mortgage: Conventional home mortgage


Complaint: I refinanced my mortgage with Quicken Loans on XX/XX/2019. Quicken Loans admitted to an error in handling my escrow and now will not take ownership of that error. When I initiated the refinance I was very clear to the mortgage banker XXXX XXXX, I DID NOT want the escrow from my current loan rolled over into the new loan. I requested my escrow be used to pay my property taxes which were coming due. Between then and XX/XX/2019 when my closing was schedule, I spoke with several Quicken Loans representatives who assured me my escrow was scheduled to pay my property taxes. On the day of closing, before I signed the mortgage papers, the closing attorney called Quicken Loans. The representative, XXXX, reiterated again my property taxes were scheduled to be paid from my old loan ; stating would be paid by XX/XX/2019. This conversation was also heard by the witness Quicken Loans requires to complete the closing. On XX/XX/2019 after the three day period to rescind the mortgage agreement had passed, I am advised by Quicken Loans my escrow was not used to pay my property taxes but rolled over into the new loan. I spoke with XXXX XXXX, from the Escalation Team and explained the mishandling of my escrow. On XX/XX/XXXX, Ms. XXXX called me to advise the situation had been corrected. She explained the title company would repay the amount into escrow that should not have been paid from my new loan. When I asked Ms. XXXX about receiving a refund of the escrow from my old loan, she stated I would not be getting a refund as that money was rolled over into the new loan. On XX/XX/XXXX, I received a phone call from XXXX XXXX, an Escalation Team supervisor. Ms. XXXX basically repeated the same information explained by Ms. XXXX. Ms. XXXX did admit that a mistake was made by Quicken Loans and the resolution would be that the {$630.00} use to pay my property taxes from my new loan would be replaced. She stated since the {$980.00} escrow from my old loan was rolled over into the new loan I would not be receiving a refund. I explained to Ms. XXXX, this was not an acceptable resolution as I now have to come out of pocket, more money than anticipated to pay the full amount of my property taxes. Also, I will have to either pay a higher monthly mortgage on the new loan or find a way to make a lump sum payment into my new loan to replenish the escrow. I reviewed my mortgage documents several times ; there was nothing in the closing documents I signed that showed my escrow from the old loan being rolled over into the new loan. Ms. XXXX called me again on XX/XX/2019, in response to a letter sent to XXXX XXXX, Quicken Loans CEO. Ms. XXXX advised me again nothing further would be done regarding my escrow issue. She did say they would extend the additional funds required to replenish my new escrow over twenty-four months to keep my mortgage from going up to much. I advised her I would prefer that to a higher mortgage increase or having to pay a lump sum. I also advised her that it was still not an acceptable resolution to my having to pay more money than anticipated after refinance. Ms. XXXX did send me a copy of my Payoff Statement, which shows what happened to the escrow. This statement was not part of closing documents.
Company Response: Closed with explanation

Timely Response

2019-10-07

Minneapolis, MN

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage


Company Response: Closed with explanation

Timely Response

2019-10-07

Valparaiso, IN

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage


Company Response: Closed with explanation

Timely Response

2019-10-07

Oaklevel, VA

Closing on a mortgage

Mortgage: Conventional home mortgage


Complaint: I am a current customer of Rocket Mortgage. I wanted to refinance my mortgage while rates are so good. I Rocket called and got a broker names XXXX. XXXX. He assured me in writing 9 times, via text that he would create a 23 year " Yourgage '' at 3.75 % Zero points. He repeatedly told me that 3.75 at zero points was agreed on, however, he would post a totally different disclosures at 3.75 % with points from 1.5 to 3 points, and then he'd defend that decision saying that is the best the market can do, but hed then tell me several times again Id get 3.75 I'd get zero points. XXXX also has never posted a final loan estimate packet, which is easiest to read, instead he posted 3 separate and different loan re-disclosure forms which are not easy to read. It is my OPINION XXXX delayed posting these interest rate disclosures and he refused to post the Loan Estimate packet because he was likely waiting until rates increased again before releasing the document, at which time I would be stuck, and hed still be compliant by eventually giving me the documents required by law. I started this process on Monday XX/XX/XXXX and I withdrew my application for refinance Friday XX/XX/XXXX. I just wanted someone to know that Rocket Mortgage in my opinion deceived me on at least 9 occasions, and I am concerned if it is not just me who else are they taking advantage of. Here is a transcript, unedited of all my texts between me and XXXX at Rocket Loans. Note as I got more and more upset, I began to just call him Liar. Not my best moments. Text Exchange, unedited : -- -- -- Monday, XX/XX/2019 -- -- -- XXXX ( XXXX XXXX ) Let me know if you need any help with e-signatures. Me ( XXXX XXXX ) Will do XXXX Me ( XXXX XXXX ) All signed, pay stub emailed. Me ( XXXX XXXX ) Please confirm nothing else needed from me thanks XXXX ( XXXX XXXX ) We are good to go! Keep an ear by the phone, appraiser will be reaching out next Me ( XXXX XXXX ) Ok, sounds great Me ( XXXX XXXX ) XXXX, what appraised value on out home gets us to the next pricing tier? Was it XXXX???? I did not write that down. Me ( XXXX XXXX ) Our home XXXX ( XXXX XXXX ) yup! XXXX Me ( XXXX XXXX ) Hey j looked thru the loan estimate and I was totally shocked to see 3 origination points out there. That is a ton, especially if I look outside of Rocket where I see tons of rates for my situation under 3.75 at 1 point for that? I even called a local bank I was told over the phone they could beat the 3.75 and do no points. XXXX in points for someone in my situation and 3.75 seems really really high as I look at the details. This is causing me to pause. Me ( XXXX XXXX ) XXXX honestly I am literally out the door shopping today if what I am being told outside of rockets estimate is firm and accurate XXXX ( XXXX XXXX ) I'm going to make sure we take good care of you throughout this process, again I want to be as conservative as possible. My pricing director is going to take care of us when it comes to pts. We just want a firm value to work with XXXX ( XXXX XXXX ) post appraisal XXXX ( XXXX XXXX ) I'll make sure to send a re-disclosure out. I want to let everything fall in place post appraisal. When it comes to the pts I'll make sure we get you the best approved pricing possible. XXXX ( XXXX XXXX ) Other lenders will tell you anything to get foot in the door. I'd rather be conservative and honest on what I can close on in a worse case scenario. Me ( XXXX XXXX ) Ok thanks XXXX, 3 points really shocked me. Let 's stay the course for now and see where the appraiser lands and go from there. XXXX ( XXXX XXXX ) I'm not going to have you pay 3 pts on this, even if the home appraises lower. We want to make sure we keep you right here at QL with the best possible refi option. Me ( XXXX XXXX ) Thanks XXXX I appreciate it! Me ( XXXX XXXX ) Screenshot_20190916-230608_Adobe_Acrobat.jpg 625.6 kB Hi XXXX, late text, I paid zero points to you when I originated my loan at a higher rate. I really would expect zero points for this refi. Me ( XXXX XXXX ) No need to call tomorrow, the more I think of it, in this market points paid by the borrower at 3.75, any points is throwing money away. That said before I pay for an appraisal I do need this portion ironed out on paper, or I will need to do my due diligence and walk over to the bank who quoted me today, zero points and possible better rate. No offense, this is cash out of pocket. So please let me know the deal in points we can talk rate after an appraisal. Almost 14k in points is simply insane. Me ( XXXX XXXX ) XXXX, the delta on my interest rate on my current loan and apr on my current loan is ... .... .009 %. The delta on the refi between interest rate and apr is a HUGE .357 %! I am hopeful these texts are arriving not on your phone but at work. My day is packed and I have little time. Me ( XXXX XXXX ) So I closing tonight. Tomorrow, I need confirmation that I will have zero points, or I will need to pause and start making other calls. I need this decided for me tomorrow. If you look back at my prior almost refi, this is not bluff, I walked 1 half way thru the process, I just won't waste XXXX bucks to an appraiser to figure it out first. Sorry XXXX, time is short and I need rush this through QL or start asking around. XXXX XXXX in points is just plain insane. -- -- -- Tuesday, XX/XX/2019 -- -- -- XXXX ( XXXX XXXX ) XXXX, thanks for the feedback. I'll take a look at a no point option. Again, any lender in America has to base pricing off the final appraised value. You are a serviced client of ours, we are going to do everything we can to get you the best XXXX ( XXXX XXXX ) possible option. Would you be open to a slightly higher rate at 0 points? Let me know what you think, I want to make sure this is perfect for you and the fam Me ( XXXX XXXX ) Hi XXXX if you could let me know the best QL can offer relative to points at 3.75? XXXX ( XXXX XXXX ) Based off the conservative value we would be able to get down to 1.5. However at 70 % LTV we could cover all points. This is the beauty of being a direct lender, we can assess the risk base pricing upfront. XXXX ( XXXX XXXX ) I'm going to do everything on my end to make sure we get you the best loan to close with the easiest process. Me ( XXXX XXXX ) So if the appraiser comes back giving us 70 % we could be 0 points and if XXXX, 3.625, 0 points? Me ( XXXX XXXX ) Otherwise as is, 1.5 points if XXXX on the value still? XXXX ( XXXX XXXX ) correct, the final pricing is all dictated on the appraised value. Like I said, I want to be as conservative on pricing up front and let things fall into place as we close -- -- -- Wednesday, XX/XX/2019 -- -- -- Me ( XXXX XXXX ) Hi XXXX. The appraiser will be out tomorrow. I also saw the fed cut rates another 1/4 point today affecting mortgage rates, will QL react and lower rates overall and will it affect my application, refi? -- -- -- Thursday, XX/XX/2019 -- -- -- XXXX ( XXXX XXXX ) I'm going to see if the pricing will be affected, if there is any discount I can apply due to a pricing cut by feds I'll surely apply for you guys Me ( XXXX XXXX ) Thanks XXXX, from your most pain in the XXXX customer. I really do appreciate your patience. XXXX ( XXXX XXXX ) No way! you're the man : ) Me ( XXXX XXXX ) I get wound up in the details man. I appreciate your patience! Me ( XXXX XXXX ) Appraiser just left, any idea how long before it comes in? Ie what is the norm? XXXX ( XXXX XXXX ) next couple days, I'll keep an eye out -- -- -- Monday, XX/XX/2019 -- -- -- Me ( XXXX XXXX ) Hey XXXX, appraisal came back at XXXX! I am in meetings All day tomorrow. Could you send me best rate, hopefully no points, given ltv and my personal situation? Obviously no pmi, lower rate I think and no points? Me ( XXXX XXXX ) I may ask for a bot more cash out depending on what you and me, so please text or update the good faith estimate in docs. Thanks man! Me ( XXXX XXXX ) But Me ( XXXX XXXX ) Bit -- -- -- Wednesday, XX/XX/2019 -- -- -- XXXX ( XXXX XXXX ) I can get us a 3.5 % fixed rate at 2.5 pts ( half a pt less in cost! ) OR I can keep the 3.75 % and cover pts on that. pricing has definitely improved with the higher value : ) Me ( XXXX XXXX ) Is 2.5 points the absolute best you can do at 3.5 %? I can not understand 2.5 % in points for a .25 % improvement in rate. Can you explain that, it makes no sense. Me ( XXXX XXXX ) Generally in my experience 1 point in rate equals 1 origination point. XXXX ( XXXX XXXX ) I haven't submitted to my pricing director yet, we are going to get it down as low as humanly possible. I should know within the day. Me ( XXXX XXXX ) I please check and look at my history. In XXXX I walked away from a refi with you, when I reached an impasse, I'll do the same here. Except I will move on to another lender. Me ( XXXX XXXX ) I need 0 points. When I took my loan out, a selling point was other than fixed costs, closing costs at RM would not be repeated, I clarified this as points. Maybe I misunderstood. I PROMISE. look at my history last spring I will walk. I PROMISE. perfect credit, no debt, nice LTV, your risk is nil with me Me ( XXXX XXXX ) The only difference between now and last spring is I will leave XXXX Me ( XXXX XXXX ) 2.5 points paid for a quarter point is INSANE XXXX ( XXXX XXXX ) Ok, I'll take care of it. Me ( XXXX XXXX ) Thanks XXXX, I do appreciate it. XXXX ( XXXX XXXX ) So do we want no points at the 3.75 %? This would increase the cash out significantly and essentially eliminate the cost OR we could look at a little lower interest, I don't know if I can promise it will be ZERO points. Me ( XXXX XXXX ) I was looking for 0 points at 3.5. How can there be 2.5 points to reduce the rate by .25 percent?? That makes zero sense to me. Me ( XXXX XXXX ) If you can not, please tell me and I will pause and look elsewhere to confirm I am am correct. If i am, i and I can get 3.5 at 0 points I walk. XXXX ( XXXX XXXX ) Pricing is dictated by the federal reserve. We have to understand 3.75 % or 3.5 % is insanely lower fixed interest. It's good we locked in when we did, pricing has only increased since this impeachment stuff has taken place. XXXX ( XXXX XXXX ) I'm going to give you the best possible pricing available on a fixed rate mortgage whether it's the 3.75 % or the 3.5 %. The lower rate is more of a buydown. I'd take 3.75 % with more cash out and cost essentially eliminated Me ( XXXX XXXX ) I get it is a buy down, but what I do not understand is 1 quarter point equaling 2.5 origination points. So I hear you, I respectfully can not agree that this is equitable. Me ( XXXX XXXX ) I'll start making some calls. Time is short for me here. Me ( XXXX XXXX ) What is the apr on 3.5 with 2.5 points? XXXX ( XXXX XXXX ) Like I said, let me have my pricing director make adjustments. I don't know what the final buy down is with the updated value. I hope you can respect and appreciate my honesty and transparency. Me ( XXXX XXXX ) I do my friend, I am in my business mode, so do not take my directness as offense, please. I just need facts. XXXX ( XXXX XXXX ) All I have is facts, like I said we are going to get you the industry best on pricing. We will also be able to close very quick Me ( XXXX XXXX ) Very good. Just let me know, I need to know apr of 3.5 percent at 2.5 origination points. I suspect it is equal or greater than 3.75 no points. XXXX ( XXXX XXXX ) I'll let you know ASAP my friend -- -- -- Thursday, XX/XX/2019 -- -- -- Me ( XXXX XXXX ) Thanks XXXX, was travelling the balance of the day yesterday and on calls most of this morning. Again, you are great man, so do not take my tone as one of dissatisfaction. XXXX ( XXXX XXXX ) You're the man! I'm working on final pricining with VP now XXXX ( XXXX XXXX ) pricing* Me ( XXXX XXXX ) Thanks XXXX XXXX I appreciate your efforts! Me ( XXXX XXXX ) And I do get wound up, my apologies for that. Something I work on NOT doing! -- -- -- Friday, XX/XX/2019 -- -- -- Me ( XXXX XXXX ) HXXXX XXXX, just checking in to see where you were relative to your inquiries with the VP of pricing. Thanks in advance. -- -- -- Monday, XX/XX/2019 -- -- -- Me ( XXXX XXXX ) Hey XXXX, time is passing and I've not heard from you guys in a bit. Please advise the status XXXX ( XXXX XXXX ) I've been out sick the last couple days. Good news, we are good to go at 3.625 % ( lower rate ) at 1.75 pts. This takes you out of the 3.75 % at 3 points. You are saving over 10k on cost with a lower rate! XXXX ( XXXX XXXX ) Cash back to you has also increased Me ( XXXX XXXX ) 1 question, earlier you still stated in this thread 3.75 and 0 points. Is that still an option? Me ( XXXX XXXX ) From you last Wednesday : Me ( XXXX XXXX ) So do we want no points at the 3.75 %? This would increase the cash out significantly and essentially eliminate the cost OR we could look at a little lower interest, I don't know if I can promise it will be ZERO points. Me ( XXXX XXXX ) I can get us a 3.5 % fixed rate at 2.5 pts ( half a pt less in cost! ) OR I can keep the 3.75 % and cover pts on that. pricing has definitely improved with the higher value : ) XXXX ( XXXX XXXX ) I can submit that option again, I want to make sure I'm getting the most amount of savings on interest over the life of the loan while getting you the necessary cash out XXXX ( XXXX XXXX ) the 3.625 % will get you XXXX cash at close. You think this will be enough? Me ( XXXX XXXX ) No, I had asked for XXXX out if you recall, let me know on the 3.75 no points. You told me that was available to me 5 days ago, I expect that to be honored. I need to know now also, I'm waiting no more on this. You all budged nothing o what I was asking, I asked for for you say XXXX cash out. You offer 3.75 no points and now you imply you have to ask again. XXXX this is very disappointing. I feel like this is a textbook bait and switch. Me ( XXXX XXXX ) And based on the new pricing I may want more than XXXX out. Now i am truly frustrated. Me ( XXXX XXXX ) Resized_Screenshot_20190930-102313_Messages.jpeg 510.5 kB XXXX I do not know which way is up. I read back and I asked a direct question, you gave me a direct answer. You said 3.625 and no points would happen I'd my appraisal exceeded XXXX. Here is our exchange. If you give me any other answer, I need to speak to a vp of pricing and Express my dissatisfaction with these inconsistencies. XXXX ( XXXX XXXX ) I'll submit 3.75 % at zero pints. I'm letting you know exactly what I can close on. I need you to make a decision on which way you want to go. Like I stated upfront pricing has gotten significantly better post appraisal. Me ( XXXX XXXX ) So if pricing has gotten better post appraisal and as your text seem to say copied above 3.625 no points, I am at a loss. Submit what you will, I'll not pay a point. I am out of here under 2 conditions, if I do not hear back today by XXXX, I walk, if I do not hear the rate I want, by XXXX, I walk. This process honestly has been terrible. I prior XXXX out and highlighted the contradictions in this text stream and I'm pretty shocked. XXXX ( XXXX XXXX ) I have you approved for 3.75 % covering the points getting you XXXX cash at close. Let 's get this loan closed. Me ( XXXX XXXX ) Am I able to get any more than XXXX out? Me ( XXXX XXXX ) I mean what is the max i can take out? XXXX ( XXXX XXXX ) If we exceed 70 % LTV pricing will adjust again. Like I said from day one ... your cost has decreased over 10k due to higher value, this money is being allocated towards your cash out. I'm getting you pricing I could not even get approved on. XXXX ( XXXX XXXX ) I can technically get you an additional XXXX, this will take loan to 80 % LTV. I can't do 80 % LTV for zero points and this will increase he monthly payment. Me ( XXXX XXXX ) Ok 3.75 0 points. Max the cash out as close to 70 percent ltv as possible. Please send me the loan estimate when able with the locked in munbers. XXXX ( XXXX XXXX ) Will do -- -- -- Tuesday, XX/XX/2019 -- -- -- Me ( XXXX XXXX ) Any update on the loan estimate package so I can see all that we discussed on paper? XXXX ( XXXX XXXX ) Yes, disclosure should be available this evening. Me ( XXXX XXXX ) Nothing has posted, I am specifically looking for the loan estimate package, good faith estimate, the breakdown of costs please. I need it in writing asap. We are 2 weeks in I believe. -- -- -- Wednesday, XX/XX/2019 -- -- -- XXXX ( XXXX XXXX ) I'll resubmit. The rediscloses should be updated Me ( XXXX XXXX ) Ok Me ( XXXX XXXX ) And to be clear, I really want the break down of costs, a good faith estimate, whatever yall call it. Loan estimate package? I need to know exactly where all money is allotted well prior to closing. XXXX ( XXXX XXXX ) Absolutely, by law I need to provide you the entire breakdown of the loan. Documents will look exactly like initial ones Me ( XXXX XXXX ) Great thanks. Me ( XXXX XXXX ) Fyi, still no new information posted. XXXX ( XXXX XXXX ) I'll contact my tech guys, disclosures should be posting Me ( XXXX XXXX ) Thanks Me ( XXXX XXXX ) Still nothing -- -- -- Thursday, XX/XX/2019 -- -- -- Me ( XXXX XXXX ) Still nothing and to clarify, I will get all of the numbers to view today?? I can not wait until 2 days before closing. It took you 24 hours to create this last time, can you do the same today. Please? XXXX ( XXXX XXXX ) There seemed to be an issue loading docs into your Rocket Account, I should have everything uploaded by XXXX XXXX Me ( XXXX XXXX ) Fyi, approaching XXXX day 4, still nothing Me ( XXXX XXXX ) After 3. Still nothing. I am not even upset or surprised anymore. All I want are the figure we discussed, I writing. Email me. Text me. Forget the app. I just need to see the figures. Me ( XXXX XXXX ) The form, not just the rough figures. I need to know every penny I am spending Me ( XXXX XXXX ) Oh well. Nothing. Well, rates seem to be dropping again, I am shopping again. Would appreciate your good faith estimate at some point. If I get a better rate with a prior broker I've used, I'm gone. Me ( XXXX XXXX ) Of no better rate, I will stay. If I do get a better rate though, that is between me and my broker and I will not initiate a bidding contest, I'll just be gone. This really has not been easy, it has not been fun. Me ( XXXX XXXX ) We've been texting for 19 days for heaven sake and I can not even get a piece of paper to see what you are charging me. -- -- -- Friday, XX/XX/2019 -- -- -- XXXX ( XXXX XXXX ) My apologies, we had a company meeting yesterday. Disclosures were sent out at noon yesterday. Everything is updated Me ( XXXX XXXX ) I am working with my former broker now, I'll know shortly whether I stay or move my loan Me ( XXXX XXXX ) Still nothing posted by the way. Me ( XXXX XXXX ) Nothing. Good lord. Me ( XXXX XXXX ) Resized_Screenshot_20191004-092202_Adobe_Acrobat.jpeg 894.8 kB I dont even know what this is. Me ( XXXX XXXX ) 3.5 %? Me ( XXXX XXXX ) And another disclosure, where dis this discount fee come from, it wasn't on my original loan application process? Me ( XXXX XXXX ) Resized_Screenshot_20191004-092202_Adobe_Acrobat.jpeg 894.8 kB XXXX ( XXXX XXXX ) I sent the docs out for the 3.75 % yesterday. You are probably looking at old disclosure aT 3.5 % Me ( XXXX XXXX ) What about the points, the alleged new one shows me paying over 7k o. Points dated XX/XX/XXXX? This redisclosure show you sneaking by almost 1.5 points. I am disgusted. If I was less educated or careful and didn't understand youd be screwing me every way you can. I am out bud. Me ( XXXX XXXX ) Ought to be ashamed of yourselves. Me ( XXXX AM ) Delay the loan estimate package until the final hour, sneak almost 1.5 point by me in this redisclosure package, hope I dont see if and hope rates are so high at closing I am screwed? Ok I am out. Your strategy is clear. Do NOTHING MORE ON THIS REFI. MY LOAN WILL BE PAID ON FULL IN 30BDAYS OR LESS. CROOKS. Me ( XXXX XXXX ) Company meeting at Rocket. Hmmm. How to steal cash from customers. I got it. Me ( XXXX XXXX ) I've got to put the phone down after this, but you expect me to believe that you had a company meeting where all work stopped across the country for 8 hours? Me ( XXXX XXXX ) XXXX Me ( XXXX XXXX ) Do NOT text me back, ever. I am done with you and your den of thieves. Another message will juat make my head explode I am so furious with you and your crooked company Me ( XXXX XXXX ) Why would you treat a person like this? I am shaking I am so furious thinking about all of the elderly or uneducated or folks ignorant of the process you XXXX gleefully daily I expect. Me ( XXXX XXXX ) By the way my broker beat your rate and is giving me a written float down guarantee. Crooks. XXXX ( XXXX XXXX ) I told you the pricing would shift in your favor if the home appraised for more, the home appraised for more and the pricing shifted in your favor. I have you approved on the best possible pricing I can get. You can shop all you want but I have XXXX ( XXXX XXXX ) applied as many discounts to this as possible. You can't just demand a certain rate at 0 points, it's not home mortgages are priced. I'm giving you the best I possibly can. Me ( XXXX XXXX ) Stop it. You liar. You lied. You told me youd cover all points. Now go away and do not condescend to me kid. Go XXXX an easier mark. Read your XXXX texts. You liar XXXX ( XXXX XXXX ) You were asking for 3.5 % at zero points, I've got the best possible pricing approved. If you want to shop go for it, I can withdraw the loan application. It's up to you, the loan accomplishes all your goals. It's pricing I couldn't even get on my hom Me ( XXXX XXXX ) Nope liar. 3.75 percent 0 points is what we agreed to monday. Read your text. Me ( XXXX XXXX ) Resized_Screenshot_20191004-101829_Messages.jpeg 428.5 kB Me ( XXXX XXXX ) Oh yes, withdraw my application pack of thieves. XXXX ( XXXX XXXX ) I submitted for 0 points, I cant control the pricing on a mortgage ... I have it approved the best I can at that rate. I'll withdraw the loan. This is about as good of pricing that you'll find, if you want to shop you can but I can keep this on ice Me ( XXXX XXXX ) Why did you lie to me. Read your words withdraw this loan app and never talk to me again. I'll be posting this text stream on social media XXXX ( XXXX XXXX ) I submitted the loan for 0 points, I apologize I really do. I wish I could do the 3.5 % at 0 pts but I have to offer what the bond market provides. I wouldn't have you close or sign on anything without visibility. This is the best I can offer. XXXX ( XXXX XXXX ) I should never have talked about pricing before my team got back, I do apologize. This is the best I can possibly do at the 3.75 %. I understand if you want to stop the process. Me ( XXXX XXXX ) Dude, 3.75 at 0 points. Dont pretend we are still talking about 3.5. Your last redisclosure from yesterday is 3.85 at almost 1.5 points. Withdraw my loan liar. Me ( XXXX XXXX ) Liar. Bait and switch. Wait until the end before I discover your lie. Too late then. Me ( XXXX XXXX ) Liar. Me ( XXXX XXXX ) Withdraw the loan. Now. My broker has already beaten your best lie, in writing. XXXX ( XXXX XXXX ) XXXX, you haven't signed anything, the loan actually has gotten significantly better since when we first started. XXXX ( XXXX XXXX ) Ok no problem, I wish you the best. Me ( XXXX XXXX ) Poor XXXX Rocket customers. I will tell this story everywhere With draw the loan liar. Me ( XXXX XXXX ) Oh and I downloaded another disclosure from Monday zero points. 3.75. You guys are awful people XXXX ( XXXX XXXX ) Yes I submitted it for you. and the pricing got declined XXXX ( XXXX XXXX ) I've been honest with you, I've been trying. XXXX ( XXXX XXXX ) But it sounds like you have an even better offer approved. Me ( XXXX XXXX ) An honest one Me ( XXXX XXXX ) You must've known it was not approved then, why did you wait for me to discover it. Hoping I would not notice? Liar. XXXX ( XXXX XXXX ) Ok enough with the name calling. If you have a better offer go with it. I've tried to submit for 0 pts on 3.75 %, it got declined. I've given you the best I've got. Me ( XXXX XXXX ) Goodbye. You know what you are Me ( XXXX XXXX ) 9 times in this thread you assured me in my situation 3.75 at 0 points. I can not wait to post this entire exchange on XXXX, XXXX, send it to the XXXX, your ceo. Wow. I hope you can sleep at night. Couldn't help but point out the 9 lies you told me I can count. My broker said that he get 4 or 5 customers a month telling him the same story about Rocket. Sneaking points and costs by. And I thought you were just bad at your job. Maybe you are really good at lying. Good night.
Company Response: Closed with explanation

Timely Response

2019-10-06

TX

Trouble during payment process

Mortgage: Conventional home mortgage


Complaint: Loan statements would come in mail on the XXXX or XXXX of each month giving us time to send check on the XXXX for a mortgage due date on the XXXX of each month. Now loan statement comes on XXXX or XXXX of month not giving us time to send check for due date on the XXXX. Seems Loan company wants, in my opinion, us to do auto payment or paperless billing. Why the change in receiving our loan statements? Had to mail check without current loan statement again for XXXX payment.
Company Response: Closed with explanation

Timely Response

2019-10-05

TX

Trouble during payment process

Mortgage: Conventional home mortgage


Complaint: Every year when my insurances on my home is due i pay it on time. never late. but every year i get a threat letter that Quick and Loan shows insurance expired. Threat to buy insurance an escrow my account. I can not give proof until i receive the documents back that i have insurance coverage. But every year same threat letter stated our records show insurance has expired. Its renew every year! Sick of the threat letters of legal action.
Company Response: Closed with explanation

Timely Response

2019-10-05

TX

Applying for a mortgage or refinancing an existing mortgage

Mortgage: VA mortgage


Complaint: Quicken loans VA XXXX. This company has a XXXX deposit ( unlike any of the other 1000 's of mortgage companies. The policy in itself is not inline with VA standards. VA streamlines or for the veteran NOT for some huge company to save money. I made the stupid deposit with this company on end of business Friday XX/XX/XXXX. I emailed to have my loan application withdrawn and deposit refunded on Monday XX/XX/XXXX ( less than one business day ). I told them in the email I would pay the XXXX for their credit check ( no one else charges this either ) but that there was no way an appraisal was done in less than a business day. On Friday XX/XX/XXXX Quicken sent me a notification that the appraisal was done. I sent them another email with my previous email asking for it to be withdrawn. They just keep going and attempting to charge me. I filed a dispute with my credit card company which is a XXXX and I highly doubt they will let this kind of behavior go through. However, the VA and CFPD have some level of obligation to ensure these sort of practices are not being used on Veterans ( normal people too ). I am a XXXX XXXX XXXX XXXX XXXX veteran, attempting to use a benefit while this company reaps massive amounts off of veterans. This kind of behavior should be nipped, they have plenty of complain ts regarding this same behavior. Why is the VA still certifying them to do business with us?
Company Response: Closed with explanation

Timely Response

2019-10-04

Wichita, KS

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage


Complaint: I started a inquiry online regarding a Rr-fi on our existing mortgage with Quicken Loans. I was then contacted via phone to proceed with the process. I informed them that my main goal was to obtain cash with the re-fi for debt consolidation etc. after going through the processes of sending them my financial information, income debt etc. I was called back and told via the phone that they could provide us the requested amount XXXX, lower our interest and lower our payment as well. I gave a verbal approval to continue. I was told that I needed to pay for the APPRAISAL which would be XXXX ( and we did ) The appraisal process was quick and came in at the amount that the preliminary numbers would need to be able to have enough difference to give us the cash etc. We signed the online forms to get the process to progress. When I reviewed the forms online, I saw that the cash was only going to be XXXX and not XXXX I sent a email the Representative that was handling my account and he quickly called me back. My email was asking if we are only getting XXXX. During the phone call, he mentioned that no everything is looking ok and we will be getting the money. After waiting over a week and a half, I checked online and now the money I would receive was only XXXX?? I called, the customer service to verify what I would receive and I was told that Yes the XXXX is all you would be getting. I emailed and called 2 different numbers with my contact and NEVER received a reply. I submitted a complaint online. The next day, we received a call from someone else that stated " maybe we can look for another title company to save you some money to get the amount closer to your request. Several days later, we received a phone call from another person that stated our loan has a MAX of XXXX cash available and NEVER would be possible to get XXXX with that type of loan!! I was extremely disappointed and upset. I requested him to pull the tapes on the phone calls to see that I was being told LIES. He stated they would pull the tapes and review the issue but was continuing to tell me that there is no way we could get XXXX. It has now been 4 business days ( he said it would only take a day or so ) and I have heard nothing again. I checked online again and now the cash is down to XXXX!!!!! I feel that all of the processes that this company ( Quicken Loans ). is deceptive. I am NOT a banker and I have to rely on the company to be honest with me etc. I also noticed that the XXXX was NOT for the appraisal as mentioned but for the XXXX earnest money! They NEVER told me that the XXXX was for earnest money!! This is still a on going issue and I am seeking help on this PLEASE! I feel that their practices are VERY deceptive, dishonest and in my opinion could be illegal!
Company Response: Closed with explanation

Timely Response

2019-10-04

Ft Lauderdale, FL

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage


Complaint: I am filing this complaint about Quicken Loans because I believe they used deceptive business practices during my mortgage refi process. My loan number throughout the process was : XXXX if it helps you. XX/XX/XXXX : I spoke to XXXX XXXX ( Presidents Club Banker ) who started the refi process for me ( after I received a mailer ). Everything went extremely smooth. I was asked to make a {$500.00} good faith deposit very early in the process. Shortly after that point everything came to a grinding halt. XX/XX/XXXX : I sent a message through the internal message board asking for a status update. This prompted several emails that went back and forth for 75 days with various staff members ( XXXX XXXX, Presidents Club Social Media Advocate, XXXX, XXXX and XXXX XXXX, Presidents Club Solution Consultant ). Throughout the process I received 4 closing disclosures but never a closing date and never any answers. XX/XX/XXXX : It had been 46 days by this point. I sent another email to the ClientCareSpecialists Team. At this point I had no answers from anyone. I was only told ( by XXXX ) that the condo is final review ( yes thats her grammar, not mine ). By XX/XX/XXXX : I sent an email demanding an update. XXXX XXXX responded by introducing himself ( as if we had not already been in correspondence over this ). His email claims he attempted calling me, but I have no call, no voice mail messages to that effect. He offered no answers. ( I have all the emails saved ). By XX/XX/XXXX : I sent an email to my original contact with Quicken Loans, XXXX XXXX. It had been 60 days at that point and my lock rate was going to expire the next day. I notified him that Quickens was leaving me with no choice but to file complaints with the Federal Reserve Consumer Complaint Division and any other entity that governs financial institutions. He responded quickly and copied XXXX XXXX on the email. That was my first introduction to Ms. XXXX. That very afternoon she called me at XXXX XXXX to assure me everything was being reviewed. Review the recorded call. She then informed me that what was slowing down the process was the underwriter XXXX XXXX. She said she had never heard of the issue, but that there was a clause with the underwriter about dues payable to a local community center and that she was going to try to get to the bottom of it. Another 10 days goes by without a word from her or anyone. My next email to her on XX/XX/XXXX included, I am speechless as to how my situation has got a company that does this for a living so stumped that you are at a standstill. As I explained, I pay HOA dues to my condo board. You commented there was an issue of the annual dues paid to the XXXX XXXX XXXX. All condo owners, hotels, single family homes, and commercial properties that are located within the XXXX area of XXXX ( some XXXX units ) are required to pay dues to XXXX XXXX XXXX whether we use the facilities or not. It is located approximately 1 mile from the building I live in. It is not considered part of the dues I pay to the HOA for living in the building I live in ( for the last 18 years ) and not included in my mortgage payment. I gave Quickens a good faith deposit of {$500.00} to which I struggle seeing the good faith on closing my case from you. This has now taken 70 days. This is NOT acceptable. I was then informed 4 days later ( XX/XX/XXXX ) that the refi was denied. The dues that I pay to the community club ( 18 years-worth paid on time every year, I might add ) deem my condo undesirable through XXXX XXXX policies. What?! On XX/XX/XXXX a letter ( of what I can only describe as a refusal letter ) was added to my Quickens portal, stating the reason why I didnt get the loan, is for unacceptable property type with no explanation whatsoever! Are you kidding me? XXXX, Florida unacceptable?? I find it completely unbelievable that XXXX XXXX never heard of this clause as she claims. As a representative of Quicken Loans, she used deceptive business practices on behalf of Quicken Loans. I was never asked about any outside dues associated with my condo during the application process. It was never disclosed to me up front, that if I pay dues to an outside entity that would negate my application ( why would I even bother and throw away {$500.00} if only to lose it )? Quicken Loans quickly took my {$500.00} deposit however, knowing there was a XXXX XXXX clause that would disqualify my loan request. Why didn't Quicken Loans disclose upfront that condos are ineligible if mandatory dues are paid to outside club before they asked for good faith deposit of {$500.00}? When I heard the name of the clause, I looked it up on the internet and the clause is dated XX/XX/XXXX. She knew. For this reason I am pursuing this in hopes of getting my {$500.00} back. There is no other way for me to look at this ordeal, except to believe that Quicken Loans is deliberately preying on consumers. I am attaching the XXXX XXXX clause showing date of XX/XX/XXXX at the bottom and attaching the letter I got from Quicken Loans showing my property is 'unacceptable '.
Company Response: Closed with explanation

Timely Response


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