QUICKEN LOANS, INC.

2017-10-17

OR

Applying for a mortgage or refinancing an existing mortgage

Mortgage: FHA mortgage

Complaint: I tried to refinance my mortgage through Quicken Loans starting on XXXX XXXX, XXXX. They took my information and said congratulations you were approved for an FHA Loan at 3.99 % and the amount of our original loan plus enough to pay off my car loan and my other loan that I had to get to get caught up on the house payments a few years ago that I am still paying on. The said the loan would close on XXXX XXXX this year and that my credit was good and my score was good enough for it. Then here it is XXXX XXXX, XXXX and they told us that we did not get approved for this loan. There are multiple things that happened throughout this loan process that was wrong and kept it going this long. One of which is the information they would ask for I would send in as soon as they asked then they would say it was not what they can except then asked for more information and then said the same thing. for example, in XXXX they asked for a 12-month payment history of payments to the house that we called and asked our original mortgage company for and they always take up to two weeks to send it out. We received it and sent it into Quicken Loans and then the response back was we are sorry we now need 24 months-payment History from your mortgage provider and we can except bank statements for this printed from your computer as long as it had the URL on it and it showed it came from their website or another call into your mortgage company to have them send it so we let them know again it could take up to two weeks to get this from our mortgage company but I will print out the bank statements for the 12 months they were missing since they had a 12 month recent payment history. I did this and they said they could not except it but if I go to the bank and have them print it with their stamp showing they did they would except this. So I did this for them as well and the note back to me said it was not good enough that they would have to wait for the mortgage company to send the 24-month payment history. This came in and I sent it in but then they said this was not good enough and they made me do a three-way call with my mortgage company to go over the payment history. This was the beginning of XXXX. The loan had to be extended we were informed the XXXX before the XXXX when it was too close. and that not to worry it should be good to go before the month was up if not by the end of the week of the XXXX. Then we get a call on the XXXX. to let us know that no we need you to make XXXX payment, XXXX payment plus come up with XXXX in verified funds to make the first mortgage payment to the new loan. We had one week for this and so we did the best we can. there was so much more then this that happened but I am unsure if you want it typed. They ended up saying they needed to extend it again for XXXX then they called today to let us know we did not get the loan because the payment for XXXX was not made on time. It was their fault we were stuck with this and their fault it was extended to this far. We let them know back in XXXX are condition and why and what we were looking for and was told through XXXX, then XXXX its all good just one more thing and we are good to go. They also at one time said find someone to pay your bills so that you can just make the house payment to get it done and not to pay our bills by this time we were so desperate and counted on the close that we did exactly this now we are way late on everything and shut off notices being sent in and now we look at getting are car repoed, things being shut off and coming up with XXXX payment with nothing in the account. It is their fault it was a day by day we need this or need that and when asked why we just did not get a list of what they need we were told that its because they dont need all that most the time so they do not believe in sending out this list. This company works on a message board that you are told to log in at least once a day to see if there is anything else that is needed or any updates to the loan process. I have printed out the whole message board along with all documents send in and the time frame of it sent in to them along with the loan details and the debts to be paid off. I also have all E-mail corrispondence kept from them that shows we started at least on the XXXX of XXXX. I also have phone dates and times from are phone company kept for the conversations that we had that was just phone related and not on the message board. I also have my bank that I talked to along the way that I believe I can get a letter stating what I had told them while getting things printed out. By the way when I did go in to get bank statements printed out and they said they needed XXXX bank statement one of the loan officers told me when I asked what am I to say to them because they can only print it out like I printed it out for you, I was told to tell them nothing and just say its a personal matter. If you need this information I can copy and send it in to you let me know please.
Company Response: Closed with explanation

Timely Response

2017-10-17

Havre, MT

Applying for a mortgage

Mortgage: Other type of mortgage

Company Response: Closed with explanation

Timely Response

2017-10-16

Topeka, KS

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 have attempted to resolve this issue with Quicken Loans three times now with the continued generic response and non-compliance under the Fair Credit Reporting Act. Quicken Loans has failed to provide me with validation the inquiry was initiated by me. Per the Fair Credit Reporting Act 15 U.S.C. 1681g, I have the right to demand that you physically disclose to me all of the documents that you have recorded and retained in your file at the time of this request concerning the accounts that you are reporting in my credit report. You continued verbatim response of, We have proof you applied, is insufficient and non-compliant for the act and my request. I am demanding physical validation of the inquiry and that it was initiated by me, including any documents I physically signed. If you do not have any documentation in your files to verify the accuracy of these disputed accounts then please delete them immediately as required under Section 611 ( a ) ( 5 ) ( A ) ( i ). By publishing these inaccurate and unverified items on my credit report you are damaging my reputation and credit worthiness. The inquiry in question on my reports are unverified and unvalidated. Quicken Loans insists I was the one who initiated the inquiry when I was NOT. I have placed fraud alerts on my reports yet Quicken Loans refuses to comply with the Fair Credit Reporting Act and continues to report fraudulent activity to XXXX XXXX, and XXXX.
Company Response: Closed with explanation

Timely Response

2017-10-16

Euclid, OH

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: Quicken Loans approved my loan on XXXX XXXX, 2017 and the process has put me and my family in a catastrophic position. The process went on in excess of 120 days, during which time there were request for the same information ; 3 requests for Transcript for Tax Return, 3 Re-disclosure packages,4 requests for information on the same debt. My loan balance was {$77000.00} and the property was appraised at {$160000.00} by Quicken. Although I was advised the average period to close a loan was 25-30 days my wife and I continued to be asked to provide payoff information on 4 debts included in the refinance. After 90 days of the loan process, I was garnished for one debt to be included in the refinance leaving me unable to make the {$1900.00} mortgage payment which caused my credit score to fall below XXXX 's acceptance. Quicken refunded the {$500.00} fee they charged, however the promises of a reduced mortgage of {$900.00} per month and {$15000.00} cash back have cost me over {$29000.00} in losses in the first year. Their inefficiency has me behind on my mortgage, garnishment costing me {$800.00} per month and a total lack of faith in any organization Quicken is involved with
Company Response: Closed with explanation

Timely Response

2017-10-16

Philadelphia, PA

Trouble during payment process

Mortgage: VA mortgage

Complaint: I recieved a notice from XXXX XXXX at the end of XXXX stating that my payment would change. In fact, my payment went from {$810.00} to {$950.00} per month. When I called XXXX and asked XXXX about the change, they replied that it was due to an increase in property taxes. I then called the XXXX of XXXX 's revenue department and was told that the taxes had not increased. I found that yhe previous owner had the XXXX exemption and I was never informed to apply for it. When I alerted Quicken loans to this fact, and informed them that I had applied for the exemption, they told me I should show them the proof that it was applied. I will not know the results until XXXX. In the meantime I am paying the same amount in mortgage payments that I would have been paying had I purchased a home a block over for {$150.00}. I bought my home for XXXX. Also, under the VA XXXX program, I was looking to refinance in order to do some updates on my home. Where other lenders were offering at least {$24000.00}, XXXX would only offer {$4300.00}. Now the invreadr in mortgage prevents me from taking advantage of a VA refinance.
Company Response: Closed with explanation

Timely Response

2017-10-15

MN

Written notification about debt

Debt collection: Mortgage debt

Didn't receive enough information to verify debt
Complaint: I have my account set up on automatic payment through my bank since I took this loan out inXX/XX/XXXX at Quicken Loans. Since then, I have made every single payment on or around the XXXX of the month before the month due. In XXXX, I was informed that my payment was going to change because of an increase in escrow needed for the account. I am XXXX years old and I do not use online banking very often. Apparently it was not scheduled automatically anymore after I went in to adjust the amount on my bill pay, and the payment did not go through as desired. I was not, in any way, notified about this problem until I received notice in the mail onXX/XX/XXXX ( Mail was postmarked XX/XX/XXXX ). I contacted Quicken Loans on or around XX/XX/XXXX and asked them about the problem. They informed me of the issue as well over the phone and I received help from my bank to both correct the bill pay problem but also to make a double payment to offset the error. I am filing this complaint because there no notification at all from Quicken Loans to me about this error until well after 30 days had passed. Had they attempted to contact me before it was too late, I would have made an immediate payment to correct the issue before I was 30 days late. There were also no phone calls or any other efforts made to me outside of standard USPS mail. I feel that, as a 5 year customer that has never missed a payment, Quicken Loans could have and should have made a more prompt effort to notify me that there was a problem. By not doing so, not only have they put me in a situation that lowered my credit score by about 100 points, but, of course, they also were able to collect a fee on me. I feel I am a victim of this non-communicative effort and feel this is a violation of the Unfair, Deceptive, and Abusive Acts Practices Regulation set forth by the CFPB. I want the 30-day late payment removed from the account immediately and I want the fee removed as well. In my effort to contact Quicken Loans about this on the 10th, the customer service rep there was ignorant to the situation and simply stated I would need to file a dispute with the credit bureaus. When I went to do so, there is no option to file a dispute based on the UDAAP Regulation, as there should be. So I am filing this complaint appropriately here. I look forward to a prompt response to this issue so I can straighten out my credit score accordingly and receive the fairness I deserve as a consumer and long-standing mortgage customer of Quicken Loans. Thank you, XXXX XXXX
Company Response: Closed with monetary relief

Timely Response

2017-10-15

Charlotte, NC

Improper use of your report

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

Report provided to employer without your written authorization
Complaint: Quicken Loan ran a credit report 3 times against my approval. I informed all 3 credit bureaus in the past of any fraud of receiving my information without my permission and was to be cover for 3 mos or more. As far as the letter I received back from all 3 bureaus no one is supposed to run my credit without calling me first or my approval. It appears this has gone through and has lower my credit score even more. Please remove these inquiries from my credit history. Please DO NOT allow this to pass through again without proper notification.
Company Response: Closed with explanation

Timely Response

2017-10-13

Laurel, MD

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

Timely Response

2017-10-13

San Jacinto, CA

Trouble during payment process

Mortgage: FHA mortgage

Complaint: I have switched my home insurance to XXXX in XXXX. Quick Loan escrow made a payment to XXXX on XXXX XXXX in the amount of {$1100.00} and got a refund back from XXXX on XXXX XXXX because the payment was to the wrong XXXX. I was not aware that the payment was to the wrong place and refund was received until I got the cancellation notice from XXXX. I called Quicken Loan escrow on XXXX XXXX and they assured me that the correct payment will be sent out via overnight mail. I received a final cancellation from XXXX again, as the result, I had to pay out of my own checking account in the amount of {$1200.00} as the result of late payment. I called Quicken Loan escrow again to find out the status of the payment. Apparently Quick Loan escrow sent out a check in the amount of {$1100.00} on XXXX XXXX in the regular mail instead of overnight. As the result of Quicken Loan escrow. I end up paying additional late fee and the risk of cancellation on my home insurance policy. Quicken loan not only did n't pay my home insurance on-time, it was also paid in the wrong amount.
Company Response: Closed with monetary relief

Timely Response

2017-10-13

PA

Trouble during payment process

Mortgage: FHA mortgage

Complaint: I signed a contract that my monthly mortgage including taxes will increase from {$1600.00} per month to {$2500.00} per month for 30 years. Quicken loans is using predatory lending practices. They agreed it was their error..stated to that from their error. I would not have purchased my home for this amount. I 'm retiredd and I am on a fixed income. Quicken loans escrow representative name is XXXX XXXX.His number is XXXX. He said the XXXX XXXX is also at fault. The XXXX XXXX is XXXX in XXXX. Quicken loans representative told me to move.I just purchased this home 5 months ago. XXXX XXXX, XXXX, was my settlement date.
Company Response: Closed with explanation

Timely Response

2017-10-12

Orion Twp, MI

Closing on a mortgage

Mortgage: Conventional home mortgage

Complaint: I am a first home buyer. I found a house that I liked and I was accepted an offer on a house. Initially, my wife and I started with XXXX XXXX for our mortgage, but I decided to shop around for other deals. I found XXXX Bank and I and I am in the process to move my mortgage loan with them. It 's true that I have been with XXXX XXXX longer because I initially started with them. I received phone calls from XXXX that they will offer me a better deal ; right now, all I want is for them to close the mortgage and send Appraisal to my XXXX bank. I heard that XXXX are very good at sales but they put pressure on people in order to keep their mortgage with them.
Company Response: Closed with explanation

Timely Response

2017-10-11

Henderson, NV

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

Timely Response

2017-10-11

OH

Applying for a mortgage or refinancing an existing mortgage

Mortgage: FHA mortgage

Complaint: On XX/XX/17 XXXX XXXX EST Quicken Loans who provides loans online through rocket mortgage is ruining my credit when I was seeking a mortgage loan through them online. When applying for a loan, they did not state when they ran my credit that If you have had a foreclosure in the last 7 years they could only provide a FHA loan, which in my case, was not accepted by the seller on the house or acceptable by me. This ruined any chance on buying the home and now is ruining my credit in the process on the home I was looking looking to buy. I would have been better off with 90 % down and placing the rest on a personal loan since the amount was much less than the loan I was looking to get approved on. Quicken loans is causing my credit to fall with long term damages for getting a loan for a car in the future ETC ... .To me this is like a bait and switch attempt for quicken loans to provide mortgages to get people to use thier service. When sellers require that loans are not FHA Quicken Loans through Rocket Mortgage does not state it even if its the only loan they can get no matter what the damages are to thier clients. FHA loans require PMI or private mortgage insurance causing undue pain to those that seek a loan by increasing a monthly payment. From this simple credit check, this is causing me to believe that the mortgage crisis is still in full effect caused by the lending institutions and there is no accountability here and things need serious change in america which I will surely pass my experiences to my children.
Company Response: Closed with explanation

Timely Response

2017-10-10

Barnum Island, NY

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

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

Problem with personal statement of dispute
Company Response: Closed with explanation

Timely Response

2017-10-09

Houston, TX

Closing on a mortgage

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

Complaint: OnXX/XX/XXXX I started a refinance application with Quicken Loans. All paperwork was done online and submitted online. I had a home loan and a home equity loan. The home loan was with XXXX XXXX XXXX and the equity loan was with XXXX. All i wanted to do was to combine the two loans back into one. So, that is refinance loan. I got a call from Quicken Loans, ( do n't remember the date ) telling me that in order to make the numbers work that they would have to include one of the credit card amounts in the loan. I said okay, but was not aware that this was going to make my loan a home equity loan and this was not explained to be by the Quicken Loans Representative. I really did n't realize that it was a home equity loan until a week ago. I applied for a home equity loan and the bank called me to tell me that i already had one home equity product and that in the state of Texas a person is only allowed to have one home equity product at a time. I was confused about that and so i went to look at the loan documents i had received from Quicken Loans and sure there it was. I never really looked at the documents that i received in the mail from Quicken Loans. If i was told at the time that this was going to be a home equity loan, then i could have research it and make a decision. So, I still thought it was a refinance. Part of my complaint is Quicken Loans did not disclose to me at the time that adding the credit card would make my loan a home equity loan and the other part of my complaint is the way in which the closing was done. Quicken Loans did not follow the law for the closing of home equity loans in the state of Texas. The law states that all closing of home equity loans are to be done in person and at a physical address and if is not, then the person would have to sign a power of attorney to have someone sign for them. If a power of attorney is assigned then all paperwork would be signed " person name by person name ". In my case none of that happen. I did not attended closing. I did not give permission or sign any power of attorney and all documents i received from XXXX XXXX, XXXX only have my name typed on the line and no initials, no notary seals on any paperwork. I did ask Quicken Loans several times where would be closing be done and they said at a office near me. Then i got a call that the closing was going to be done and I would not have to attend. All this was done in a matter of 24 days from start to finish. I applied on theXX/XX/XXXX and documents state closing wasXX/XX/XXXX.
Company Response: Closed with explanation

Timely Response

2017-10-09

Arlington, VA

Improper use of your report

Mortgage: Conventional home mortgage

Complaint: On XXXX XXXX, 2017, I was filling out an application through Quicken Loans ' Rocket Mortgage program to see what products they could offer me for a condominium I was purchasing in a new development. I specified the details of the home as well as the down payment I was willing to put down and I provided all of the necessary financial information they requested. I provided my SSN and my wife 's SSN as well. There was no indication of what mortgage products Quicken Loans had to offer and before making sure they had any mortgage product they could offer me, they immediately performed a hard pull on my credit report and on my wife 's credit report. I learned after this that Quicken Loans does not offer any mortgage products for condominiums in new developments and that our credit reports did n't even need to be pulled. I called Quicken Loans to complain about this issue, but they argued that a vague disclaimer that mentioned nothing about an immediate pull on your credit before considering mortgage options was enough to free them of guilt. I have spoken to several lenders and every single one of them always checked to see what potential products could be available for my wife and I before they made a decision to pull our credit. Several of the other lenders we spoke to also had no programs for new construction condominiums, but they informed us prior to ever pulling our credit. My complaint is that Quicken Loans did not ethically, permissibly, nor reasonably perform hard pulls on my credit report and my wife 's credit report. They had sufficient information early on in the application process to know that they had no mortgage option available to us regardless of our credit reports. They also did not get permission to perform an immediate pull on my credit report without considering what options would be available.
Company Response: Closed with explanation

Timely Response

2017-10-06

MA

Trouble during payment process

Mortgage: VA mortgage

Complaint: Approximately XX/XX/XXXX I was offered the opportunity to refinance my mortgage loan with a reduction of the interest rate from 3.75 % to 3.25 % that would benefit me with a substantial saving of about $ XXXXper month. My payment was to be reduced to {$1200.00} from {$1400.00} monthly. On XX/XX/XXXX I refinanced my loan. Since I have made on-time payments. XX/XX/XXXX I received a notice stating that I had a shortage in my escrow account in the amount of {$1200.00}. You stated that the shortage was caused by a change in my taxes or insurance. At this time did you acknowledge that the error was your fault. I spoke with XXXX XXXX several times and XX/XX/XXXX she indicated to me that the title company had underestimated what the escrow amount would be at the closing. This error resulted in the eventual shortage and misrepresented figures that was instrumental in me making the decision to re-finance. She indicated that the tile source company was being notified to review errors. XXXX referred me to XXXX XXXX and I spoke to him and about my concerns. XX/XX/XXXX he confirmed that there was at tax error of {$400.00} and that Quicken Loans would cover {$500.00} for the error. I made it clear to him that I am not satisfied with this and I expect the entire shortage should be covered by Quicken Loans because they made the initial mistake and it influenced my decision regarding refinancing. The refinance also added {$4000.00} to my balance for closing cost and added 4 years to the length of my loan. Having known that I would be saving {$30.00} per month and adding closing cost to my balance I never would have refinanced, the winner is Quicken Loans. At my request, XXXX referred me to XXXX XXXX. Her response on XX/XX/XXXX was the same as XXXX in a different format. XXXX referred me to you. In conclusion ; You made a mistake that ended up in costing me money and time spent trying to resolve this issue. You misinformed me regarding the actual cost of refinancing because of your error. You profited an addition {$4000.00} in closing cost and an additional 4 years extended time of my mortgage. You have had 3 different associates spend time trying to convince me that I should be happy that you are crediting me the money that you erred on. You boast how you are number in client relations and helping veterans. I dont think so. I am filing a complaint with the XXXXonsumers Finance, The Veterans Affairs and XXXX XXXX XXXX call for action to help me resolve this issue with hopes that you might step up and take responsibility for your actions and make sure that this is not a normal occurrence.
Company Response: Closed with monetary relief

Timely Response

2017-10-04

Thackerville, OK

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 two different occasions, XXXX XXXX, XXXX, and XXXX XXXX, XXXX, Quicken Loans initiated unauthorized credit inquires. These were associated with unsolicited phone calls they made to me attempting to get me to renegotiate my existing mortgage with Quicken. I did not authorize their credit inquiries, and now fear I was a victim of " churning '' by quicken loans. I have subsequently discovered that these inquiries are affecting my " credit score ''. I received a third call from Quicken on or about XXXX XXXX, again they were attempting to revise my mortgage. This again, was an unsolicited call. Although I informed the caller I had not solicited them to call me they persisted in attempting to execute the transaction by suddenly transferring me to a " loan officer '' whom attempted to discuss my loan. At this time I terminated the call.
Company Response: Closed with explanation

Timely Response

2017-10-03

CA

Improper use of your report

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

Credit inquiries on your report that you don't recognize
Complaint: On XXXX/XXXX/XXXX I received a call from Quicken loans ( XXXX ) stating that they could help me look for the right mortgage. The rep asked for my social security number in order to confirm my identity, so I gave it to him. I asked if he planned to run my credit and he said 'yes ', I immediately told him that I did not consent or give him permission to do so. He then said that it was too late. According to him and his supervisor he said he would fix the inquiry, but they never did as it shows up in my credit report.
Company Response: Closed with explanation

Timely Response

2017-10-03

Topeka, KS

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

Timely Response

2017-10-03

IL

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: They keep changing the there fees and what they are charging me. I gave them all the correct figures when we started and they have now changed the figures 3 times and the points and lender fees rose from {$2800.00} to {$7100.00}. I called multiple times and spoke to a manager and he said he would change it back but then they raised it even more.
Company Response: Closed with explanation

Timely Response

2017-10-02

Albany, NY

Credit monitoring or identity theft protection services

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

Problem with product or service terms changing
Complaint: My credit is inaccessible to the mortgage company. I did not freeze my credit.
Company Response: Closed with explanation

Timely Response

2017-10-02

S Saint Paul, MN

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2017-09-28

East Rockaway, NY

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

Timely Response

2017-09-27

Lewisville, TX

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

Timely Response