QUICKEN LOANS, INC.

2017-07-05

Lansdale, PA

Struggling to pay mortgage

Mortgage: Other type of mortgage

Company Response: Closed with explanation

Timely Response

2017-07-01

Grosse Ile, MI

Closing on a mortgage

Mortgage: Conventional home mortgage

Complaint: Quicken loans accepted us for a refi on our home until the appraiser noted that the power was off at our home. A little back story, In our area SE Michigan XXXX is the only elec. provider and when they came around with smart meters we said no, I get XXXX XXXX and XXXX, I am XXXX XXXX XXXX XXXX XXXX XXXX XXXX, which these things which they are calling a meter put out, very high levels in fact.XXXX will tell you that they offer an OPT-Out plan and claim that the transmitter is turned off and when called and asked an operator about this option, they immediatly take offence and get a really nasty attitude and also act like they do n't know about any OPT-OUT plan.I talked to XXXX XXXX @ Quicken loans and he basically told me he could not help me if i did not call XXXX and turn it back on. So XXXX, XXXX XXXX and 3.99 % 15yr fixed with XXXX or 7.75 % adjustable at XXXX XXXX XXXX for another 18yrs.which is what we have now.My complaint is that, it is not like it cant be turned back on. When I told the appraiser our story he looked at me like I was nuts. Quicken loans is making me choose between my wallet or my health.Discrimination, because we dont buy power from the grid in which we only have one choice which is not much of a choice. This wont be the last words on this subject.i Will be emailing, phoning and sending letters. THIS IS JUST WRONG!!!
Company Response: Closed with monetary relief

Timely Response

2017-06-30

Grosse Ile, MI

Closing on a mortgage

Mortgage: FHA mortgage

Complaint: We closed on an FHA mortgage in XX/XX/XXXX, signing our closing documents on XX/XX/XXXX. Upon closing, we were informed of the functioning of an FHA mortgage, primarily the Mortgage Insurance on our loan. The closing officer informed us that the mortgage insurance would drop from our mortgage at 78 % of the value of the of the loan and pointed to the corresponding documentation in the paperwork. Additionally, I, along with my husband, mother and father whom we bought the home from, recall this information being verbally stated and showed to us in the closing documentation. <P/>In XX/XX/XXXX, we met the 78 % mark of the value of our loan. At that time, I contacted Quicken Loans to inquire as to why the Mortgage Insurance has not dropped off of our payment. Unfortunately, we were informed it does not ever drop on our present FHA loan, and we had the option to refinance if we would like. After reviewing my closing documentation, it was determined that the closing officer had us sign documents stating both the FHA guideline prior to XX/XX/XXXX and the new FHA guidelines. These documents provided conflicting information regarding the mortgage insurance requirements. As the loan holders, it is our primary concern that we should no longer be paying the cost of mortgage insurance past the 78 % of our original loan value, due to this being stated in a document we signed at closing. We, as the signees of the closing documents and not the producer of them, should be held to the lesser restrictive of the two documents/contracts. <P/>Since finding out we signed conflicting documents, Quicken Loans has been working through our complaint and concern for several months. However, as of today, there has been no resolution to rectify the mistake which would fully correct the situation without additional cost to us i.e. refinancing. The options presented to us are not satisfactory and do not monetarily compensate us for the cost of the mortgage insurance we are unrightfully paying and will continue to pay the duration of the loan. At this time, Quicken Loans is not honoring a signed contract with one of its loan holders, ourselves. <P/>Therefore at this time, I am requesting that Quicken Loans monetarily compensate us a total of {$2000.00} which is the approximate total amount we will pay in Mortgage Insurance past 78 % of our original loan value for the remaining life of our mortgage. <P/>We submitted a letter to Quicken. loans requesting this monetary compensation by today XX/XX/XXXX. However, as of approximately XXXX Eastern Time on XX/XX/XXXX, no answer to our request has been received. We did receive confirmation that our letter was received by our Client Relations Specialist as of yesterday XX/XX/XXXX.
Company Response: Closed with non-monetary relief

Timely Response

2017-06-30

Henderson, KY

Struggling to pay mortgage

Mortgage: Other type of mortgage

Company Response: Closed with explanation

Timely Response

2017-06-26

Oceanside, CA

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2017-06-26

Victorville, CA

Applying for a mortgage

Mortgage: Other type of mortgage

Company Response: Closed with explanation

Timely Response

2017-06-23

Frisco, TX

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2017-06-22

Wonder Lake, IL

Trouble during payment process

Mortgage: FHA mortgage

Complaint: While working through the Loss Mitigation process, I was offered a sale opportunity of my property. During the process, I continued with the Loss Mitigation efforts in case the sale did n't close. At the time of closing, the payoff statement that I was given was deemed to be short and funds were held up. The short payoff was due to the loan proceeding to Foreclosure after it had been deemed complete by Quicken loans. This constitutes dual tracking. I submitted a request that all notes and a complete itemized list of all costs and fees incurred be mailed to me at my new address. This was submitted nearly 2 months ago and still has not been complied with. Please investigate this process and advise me of the outcome. My loan # with Quicken was XXXX for XXXX XXXX The property address was XXXX XXXX XXXX XXXX XXXX IL XXXX
Company Response: Closed with explanation

Timely Response

2017-06-21

Stevenson, MD

Struggling to pay mortgage

Mortgage: VA mortgage

Complaint: My father XXXX XXXX XXXX entered into a mortgage with quicken loans in XX/XX/XXXX. In XX/XX/XXXX my father was admitted into XXXX care at home as the doctors said that he was terminal and all they could do is keep him comfortable. My father was put on XXXX, XXXX and other medicine to keep him comfortable. I was my fathers power of attorney. This loan happened while I was at work. My father was not supposed to sign his name while under the influence of XXXX and while under XXXX. He was XXXX and XXXX years old. His social was XXXX. His loan # with Quicken Loans was XXXX. The comps that was used for his home was not in our neighborhood and they were not comparable to his home. I had the house appraised in XX/XX/XXXX and the house appraised for {$230000.00}. I contacted quicken loans when my father passed away and told them he had passed and they told me that I could make the payments which were {$2300.00} per month, remodify the loan and get a lower payment, mind you keeping the {$300000.00}. I could n't do either of those, I ca n't afford {$300000.00} and the house was not worth this and I would n't have gotten a mortgage since the house was n't worth that amount. I decided to do a short sale on my fathers home. I was living with my father, my mother passed away, he was n't well and someone needed to help him with every day stuff. I tried to keep my dads house and quicken loans would not work with me. They had the house appraised inXX/XX/XXXXagain using comps that should not have been used. They used comps that had been totally renovated, my fathers house needed work. Someone purchased my fathers home for {$250000.00} and we settled XX/XX/XXXX. This was the house that I grew up in and should have been my home. When my father passed away, I heard of 3 other people that this happened to with Quicken Loans. I thought that people were protected from predotory loans. So sad that this happened to me and my father and all Qicken Loans did was call me and harass me about my fathers house. They would not let me buy his house on the short sale nor was anyone in my family aloud to purchase the house. Very sad how they operate. I tell anyone thinking to go with them what happened with my father and to not go with them.
Company Response: Closed with explanation

Timely Response

2017-06-20

Houston, TX

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: On XXXX XXXX, 2017 I spoke with a loan officer at Quicken Loans regarding a property that I am purchasing in XXXX, DC. After discussing the available products and interest rates, I agreed to proceed with an application in order to receive a pre-approval as requested by my seller. <P/> I was unaware at the time of the decision that the property that I was under contract on does not qualify for a conventional mortgage from XXXX XXXX as it is a new construction condominium and those properties do not qualify for delivery to XXXX XXXX from Quicken. <P/> Had I known this information at the outset, I would not have proceeded with the application process for two reasons, first, I spent about an hour reviewing my credit status with the loan officer ( after which I was approved for the mortgage then rejected due to the XXXX XXXX restriction ), and second, I did not want to be adding hard credit inquiries to my credit report if there was not going to be any way of proceeding. <P/> After pulling my credit and completing the application, the loan officer asked about the property and knew right away that it would be a problem, which of course it was. My issue is that I received a hard inquiry for a loan that Quicken Loans will not ever approve and Quicken Loans is not willing to ask the credit agency to remove the inquiry ( which there is a process for doing but may have a financial cost to them. ) I raised this issue with Quicken Loans and was informed that while they regretted that the question of the property type was too late in the interview process to avoid the credit pull, there was nothing that they would be prepared to do to rectify the inquiry on my report which resulted in my score being immediately reduced by the credit agency. <P/> I am unable to recommend Quicken Loans to other consumers given a process that is punitive to people 's credit which the company is unwilling to resolve to the benefit of consumers.
Company Response: Closed with explanation

Timely Response

2017-06-16

Temperanceville, VA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: Please consider this correspondence to be formal notice that our mutual client is hereby appealing the denial of loan modification because your company failed to evaluate this borrower for all loss mitigation options available in violation of Regulation X , 12 C.F.R. 1024.41 ( c ) ( 1 ) ( i ). The lender has failed to respond to our QWR and Notice of error request sent on XXXX 2017 and are proceeding to sale set for XXXX /17 - the lender is in violation of regulation X-12 USC 2605 ( e ) ( 1 ) and the clients right to counsel.
Company Response: Closed with explanation

Timely Response

2017-06-15

Niantic, CT

Closing on a mortgage

Mortgage: VA mortgage

Complaint: I am an at torney and represent daughter of mortgagor who conveyed to her, subject to mortgage to Quicken Loan o f approx XXXX on house worth XXXX ( interest per month is approx. XXXX ), couple months before he dies. Daughter had moved in about year before to take care of him. No estate ever opened ; sister has will etc. wo n't speak to my client, and my client tried to talk to quicken they said ca n't talk to her, VA loan not assumable anyway?? meanwhile they serve h er w forc papers in another state, nearly goes to public auction, I get it dismissed but quicken and/or their attys say ca n't talk to her, she ca n't get pay-off, she is not on the loan. I learn client does qualify as successor in interest and attys and quicken still saying she no right to info. I asked in writing for pay-off and forced placed insurance costs starting in XXXX Just received pay-off this week, has all the costs added on We are having trouble paying off all their charges, and rfealize i f Quicken had reaced out to her re successor in interest status, she had mnoney to pay and would not be looking at losing her house, but would have made the payments, or at least would not have lost so much in time, attys fe es, their fees, etc.
Company Response: Closed with explanation

Timely Response

2017-06-09

TX

Problem with a company's investigation into an existing issue

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

Problem with personal statement of dispute
Complaint: Hello, I would like to dispute th e Hard Inquiry from Quicken Loan s. I want this stopped, how can we make this happen, how can I get this removed? I understand it hurts your credit score whe n Companies like Quicken Loans are inquiring about my credit history. Please help. I appreciate it your help on this matter. Thank you XXXX XXXX XXXX Take care
Company Response: Closed with explanation

Timely Response

2017-06-09

Culver Cty, CA

Closing on a mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2017-06-08

Symbol, KY

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: On XXXX XXXX my payment was raised concerning my escrow account. My insurance last year was XXXX this year XXXX . Taxes XXXX last year XXXX ,. This year. my payment went from XXXX to XXXX . I draw XXXX social security a month .When I got the mortgage they said my payment would not go up. I have a tight budget but have never missed a payment. I paid XXXX on XXXX XXXX and they put charges on my account because I could not pay the new escrow. XXXX is not a lot of money to company 's but takes out of my food. There was not that much difference in the escrow. I talked with the company and they said they can not do anything
Company Response: Closed with explanation

Timely Response

2017-06-08

Shreveport, LA

Trouble during payment process

Mortgage: FHA mortgage

Complaint: I has been a problem with quicken since we started the mortgage with our escrow payments. They analyzed my escrow account within 2 months of my loan started and they said because we live in the south they were doing us a favor so we would not lose our home to forclosure. As a real estate agent I 'm fully aware on how escrow account are done. It has been more tha n four y ears and still problems with my escrow. Today I received a bill for XXXX mortgage payments when my payment had already cleared my bank. They seem not to be working in a matter that is in compliance with the law and also very discriminatory comments on there service advisor part when I asked to speak to a supervisor none were able to answer my questions.
Company Response: Closed with explanation

Timely Response

2017-06-07

Lewisville, TX

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: XXXX XXXX, 2017 I was shopping for a loan. XXXX XXXX from quicken loans requested to do a soft pull on my credit so that she could compile loan information for me. She assured me that her soft pull inquiry would not show on my credit report. <P/>XXXX XXXX | Director of Mortgage Banking Direct : ( XXXX ) XXXX | Toll Free : ( XXXX ) XXXX XXXX Cell : ( XXXX ) XXXX | Fax : ( XXXX ) XXXX | NMLS # XXXX XXXX XXXX, 2017, XXXX XXXX from XXXX XXXX, the company I decided to get a mortgage with, emailed me and asked why I had a credit inquiry the day before. XXXX double checked on his end and made sure this was not his credit request and assured me that it was not an inquiry he generated. <P/>I was deceived by to my XXXX XXXX at Quicken Loans. She assured me she was only doing a soft inquiry. I would like to
Company Response: Closed with explanation

Timely Response

2017-06-06

Far Rockaway, NY

Applying for a mortgage

Mortgage: Other type of mortgage

Company Response: Closed with explanation

Timely Response

2017-06-05

Soddy Daisy, TN

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: On X/XX/2017 I filed a complaint with the CFPB regarding my interaction with Quicken loans. While receiving info on loans, rates and terms I started to question my loan assistant, when his supervisor interrupted our conversation. He proceeded to quote me a new rate of 3.75 %. He then proceeded to ask me my credit card # so he could get the process started. I responded by telling him I would not submit my card # until I received something in writing. He was aggressive in his response to this. I further inquired if there were points involved with this new rate. He said there were 3 pts for a total of {$3400.00}. I asked when he was going to mention this fact, after he had my credit card #. But for me asking I would not know that the points had been omitted. When I questioned this aggressive sales tactic the supervisor became even more belligerent. I think this is a fraudulent practice and should not only stop, but should be penalized. I submitted a complaint with CFPB and had their response read to me by an assistant. Quicken Loans response was very accurate as to the facts and sequence of events except they failed to mention, and in my view purposely omitted the fact that they requested my credit card # before they disclosed that the quote they gave me included points. The response by Quicken Loans is in fact a second occurrence of omitting facts to favor their narrative. I agreed to and our conversation was recorded, you can listen to our conversation and see this fact plainly. This non disclosure of points and omitting them in their response is at the heart of my complaint.
Company Response: Closed with explanation

Timely Response

2017-06-05

Point Arena Air Force Statio, CA

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2017-06-04

Washington, DC

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: In XXXX XXXX 2017 I spoke with XXXX XXXX and XXXX at quicken loans. I had two very specific questions and advised them both NOT TOO PULL MY CREDIT because it had already been pulled a month prior. XXXX XXXX pulled my credit WITHOUT my consent. It 's a recorded line that they clearly hear me saying not to pull the credit. I have an email between he and I stating the same. He claimed that my credit score would n't drop and that it 's the same as one months ago. I told him not to pull the credit he did it anyway and my score has dropped XXXX points immediately as a result
Company Response: Closed with explanation

Timely Response

2017-06-01

PA

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: Worked with Quicken loans to refinance home. They were misleading about lender fees therefore withdrew consent on application and went with another company. They charged my credit card XXXX $ without explanation or authorization. I never authorized this payment. They have some serious business practice issues with regard to misleading customers and not fully disclosing their fees. After they were denied my business they unlawfully charged my card. I am disturbed by this company being allowed to operate in this manner.
Company Response: Closed with explanation

Timely Response

2017-06-01

Bedford, TX

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: I received a direct mail piece from Quicken st ating I might be able to refinance my mortgage for a rate as low as 3.625 %. I know my credit is quite good, so I applied, fully expecting to receive the advertised rate. <P/> Upon applying, I was told that I must sign an " intent to proceed '' form before they would give me an estimate showing closing costs and rate. I read the document and saw nothing that said I could not back out after viewing the documents, so I signed and looked at the documents. They also charged my credit card {$500.00}, to be refunded upon closing. <P/> I looked at the documents and saw that the rate they gave me was 4.25 %. I asked why the rate was so much higher than the advertised rate. I was told that I could buy down my rate with origination points, except that in Texas, closing costs were capped at 3 %, so even with A+ credit, there was NO WAY that I could get the advertised rate of 3.625 %. They should n't advertise the rate in Texas if it 's unobtainable. <P/> At that point, I decided that I did not want to proceed and I wanted to withdraw my loan application. They said had to be notified in writing. I notified them in writing within 1 business day. Multiple phone calls and written correspondences later, YES, I STILL WANT TO WITHDRAW MY APPLICATION. They drew it out over two weeks. Finally they agree and say they will withdraw my app. The next day, I receive a letter that THEY have denied my application because I could n't provide the necessary paperwork. <P/> Oh, but they still charged my credit card {$500.00}. For what? No appraisal, no paperwork, nothing was done because as soon as I saw the rate I immediately STOPPED the process. After 24 days they finally refunded the {$500 .00}, MINUS {$27.00 } - a credit report fee! They charged me to pull my credit.
Company Response: Closed with explanation

Timely Response

2017-05-26

Bedford, TX

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: Q uick en Loans needs to be investigated relative to their deceptive practices on offering their current customers refinancing as their practice prolongs the debt for the consumer and puts tens of thousands of dollars ( per consumer ) into Quickens pocket for miscellaneous fees. This practice also puts consumers in an unfair position relative to the housing market ( little to no equity ) and increases the amount of risk for both the lender and the consumer. About 4 years ago I financed my house with Quicken Lo ans. Every year since they call me to refinance my house promising cash back and lower interest rates. They quickly collect a {$500.00} non-refundable refinance/appraisal fee up front and then drop you into the process. In year two, I decided to take the plunge after being told I could take a large amount of equity out of my house and that my interest rate would be lowered ( same pitch as the previous year ). Upon providing Quicken {$500.00} to handle the appraisal, I was provided a breakdown of the forecasted transaction. This transaction did not show ANY cash back. In fact, it showed me paying roughly {$21000.00} in refinance fees to Quicken and a significant increase in my monthly mortgage. I immediately contacted the Director via email and told him what was going on. After multiple attempts at contacting them, they never contacted me back to resolve the issue. I cancelled the transaction and requested a full refund as I had all of their promises in writing. It took me contacting the Office of the President to get the matter resolved. Each year, they continue to call me with the same sales pitch. I block th eir number only to have them roll their number and continue to har ass me with daily calls and emails. This practice is HIGHLY deceptive and has the ability to quickly put the consumer upside down in their mortgage. This should be illegal and is very unethical AND SHOULD BE ENFORCED by the FTC as Quicken uses this model to continuously pump enormous fees into an already existing account, while resetting the mortgage loan to day zero so people have no equity and never get out from under their mortgage loans. This also puts our economy at risk! This practice is a violation of the UDAAP Act and their contact practices are also a violation of the TCPA laws. Consumers should beware before paying any fees upfron t.
Company Response: Closed with explanation

Timely Response

2017-05-25

Mountain View, CA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: I refinance my house on XX/XX/XXXX and opened mortgage with Quicken Loans. My monthly payment o n 30 years fix interest loan was XXXX On XX/XX/XXXX , QL against my knowledge and my wishes created an Escrow account that is attached to my 30 years mortgage. Since XX/XX/XXXX I made over 10 requests to close Escrow account. QL refuses multiple requests to close escrow account unless I apply for new higher percentage loan. For monthly payments to Escrow account QL charges me roughly double the amount of total yearly payments that associated with my property. Current Escrow Balance is {$2000.00} Future p ayments in following 12 month are {$3800.00} x XXXX property taxes. XXXX x XXXX = {$7700.00} ; {$7700.00} - XX/XX/XXXX = {$5700.00} ; XXXX /12 monthly payments is {$480.00} QL instead collecting {$990.00} to create financial problems.
Company Response: Closed with explanation

Timely Response