QUICKEN LOANS, INC.

2017-02-15

Haines, AK

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Closed with monetary relief

Disputed: No Timely Response

2017-02-15

Naples, FL

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2017-02-14

Pea Ridge, AR

Application, originator, mortgage broker

Mortgage: Other mortgage

Company Response: Closed with monetary relief

Disputed: No Timely Response

2017-02-14

Indianapolis, IN

Credit decision / Underwriting

Mortgage: Conventional fixed mortgage

Complaint: When applying for a mortgage through Quicken loans I was misadvised by the underwriter XXXX XXXX. During a telephone conversation XXXX advised that I would need a letter or relocation in order to continue with the loan. I told XXXX I would not have that for some time, since I was not relocating for 6 months. XXXX advised me to replied to his email and state what we discussed on the phone and outline my relocation. I did so only to receive an email from him that Quicken needed this on company letterhead. I reluctantly troubled my boss for the letter and sent it to XXXX. XXXX then replied that the letter needed to be signed. I again troubled my boss to sign the letter he had drafted. I feel that the underwriters should know the requirements of the documents that they are requesting. I feel that XXXX was just guessing, this caused frustration and wasted my time, my boss 's time and XXXX 's time.
Company Response: Closed with monetary relief

Disputed: No Timely Response

2017-02-13

NY

Loan servicing, payments, escrow account

Mortgage: FHA mortgage

Complaint: I refinanced my Mortgage through quicken loans. I feel that their practices are predatory. I was first told I would have no problem getting cash out. Well, a couple months into the process I was told that would not be possible, but I decided to continue, as I was told I could reduce my monthly mortgage payment. So after adding {$8000.00} back to my mortgage for closing costs, and going back up to 30 years, there is no change in my mortgage payment. So I gained nothing but a lower credit rating. Quicken miss calculated my home insurance and did not pay it when they bought my mortgage. I called them XX/XX/XXXX, and was told it would be " researched '' but as of yet, no research, and now the rep tried to blame me, because they called me but my voicemail was full. So apparently they needed to speak with me before they could begin their research, because XXXX reps was n't enough, I had to speak to a third. In the meantime, my house insurance was cancelled. It has been re-instated, but Quicken does not seem to want to take responsibility for their mistake, and want to put it on me as the consumer.
Company Response: Closed with monetary relief

Disputed: No Timely Response

2017-02-12

PA

Settlement process and costs

Mortgage: Conventional fixed mortgage

Complaint: Summary will be provided 1st On XXXX a quicken loans representative came to our home to conduct a final closing in order to refinance my home. This day of the XXXX was the last day of the interest lock deadline. Our Loan terms were a fixed 20 year loan at a great interest rate of 3.25 % for our residential dwelling. My wife and I discovered that the Loan amount was higher than what we agreed upon including what the most current disclosure documented. We immediately contacted Quicken and reported this error and was confident that they will see their error and remedy. Within the rescind period I attempted to resolve these factual discrepancies several times with Quicken. Quicken representative XXXX XXXX informed me on XXXX, which was the last day to timely rescind, that she is unwilling to remedy the errors made. She was not only reluctant to remedy but falsified reasons why Loan amount increased. As a result, I responded by email that this day of the XXXX stating my formal notice to rescind. In addition, that same day, My wife and I then completed the rescind document from Quicken and timely mailed it in that day according to their instructions just to be safe. Despite the timely rescind, unknowingly to my wife and I, QL rep XXXX XXXX authorized pay off of my mortgage for the amount of aprox. {$300000.00}. As a result of this negligent and arrogant act my current bank, where the loan originated from, will not except payment from me and states the loan is paid in full and will not reinstate. Furthermore, if I have to refinance there is no way I can ever get the great 3.25 % rate since the market rates have greatly increased which would potentially cost thousands of dollars more in cost. During this time Quicken Loans supervisor XXXX XXXX both in writing and verbally has acknowledged my timely rescind and has acknowledged their errors of increasing the loan amount without my authorization. She had informed me that my bank will not permit them to release the funds back and it has gone to litigation. To be cooperative, I have requested a loan modification and they have denied me several times. In spite of their errors and negligence they are threatening my wife and I by saying if we do n't make the 1st mortgage payment by XXXX they will report us to the Credit Agencies and adversely impact our good credit. We believe this is certainly unfair credit practices and tactics. Not to mention an ethical violation against my family personally and for them professionally. I will not permit our rights to be violated by allowing QL to bully my family. I am more than willing to resolve this matter reasonably and fairly. PLEASE HELP! . I also can provide a factual timeline of specific events including dates of emails, written communications and conversations that fully support the summary allegations. I also have a complete file of documentation of supporting information to what is mentioned in addition to other discrepancies.
Company Response: Closed with explanation

Disputed: Yes Timely Response

2017-02-12

LA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: I did not receive a bill for XX/XX/XXXX payment. I did receive an email on XX/XX/XXXX stating I must pay today to avoid late fee. I called and paid with the same checking account I always use and received confirmation # XXXX. On XX/XX/XXXX, I received thank you for your payment by email. Again I receive an email that I 'm going to be late. I check my account ; no payment was taken. I call XXXX at Quicken on XX/XX/XXXX ; I explained the payment did not go through.He said to give him the numbers, I did, he said were done. XX/XX/XXXX I received an email thank you for your payment. XX/XX/XXXX, I 'm late again, I send an email to explain and included a check from the same account. NOW, it 's paid but they want XXXX late payments. They said it 's not their fault, but I have used my routing and account # 's with out a problem with others and no problem. They said they still do not know why both times the payment did not go through. I believe they have an obligation as a financial institution to be held to a higher degree of professionalism. If a Quicken employee can not figure out why the numbers did not work ; I do n't know what else to say. I told them to listen to the recording of the call. Yet they just say I 'm at fault. I 'm not the company that sent two emails thanking a CUSTOMER for your recent payment that was not true, and very confusing. I do not believe Quicken should benefit financially for mistakes that they made.
Company Response: Closed with monetary relief

Disputed: Yes Timely Response

2017-02-11

Macclenny, FL

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: I was applying for a mortgage online spoke to loan officer, who discussed verbally the rates of interest, but never verbally discussed the points they were charging. He said it was compay policy, in this case Quicken loans. While I believe there was written disclosure, the lack of discussion tricked me into believing that there would be no points. By the time I saw the closing docs it was too late and I had to proceed.. When discussing a mortgage with a prospective client, I believe that it 's imperative that mortgage officers verbally discus rates as well as points, a {$1500.00} charge on a {$120000.00} mortgage that I did not want to pay. I felt it was sleazy and disengenuos for not mentioning this in our discussions.
Company Response: Closed with explanation

Disputed: No Timely Response

2017-02-10

Sylvania Township, OH

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: To whom it may concern, I 'm writing in regards to our recent experience with Quicken Mortgage Loans and the ongoing issues regarding the errors within the mortgage 's closing documents. In XXXX my wife and I refinanced our home, which was previously purchased under her name only, in XXXX before we were married. Recently we learned that the deed is still in her maiden name, only. Upon learning this, we contacted the loan servicer Quicken Loans and I was told that I was only a non-occupant co-signer and any error is left up to me to correct. I disagree. Its indisputable that Quicken knew I was an occupying, co-borrower before the time of settlement as I was residing at the home in which we were refinancing. I was required to provide all personal income statements, including jointly filed federal tax return ( s ), my SS #, DOB, address, employer, and financial records all of which verified my address. This information was required before the lender would attempt XXXX verification. Further I fail to understand how the mortgage note and settlement paperwork was completed with my spouse 's last name being wrong, reflecting her maiden name. Lastly, if I were merely a un-occupying cosigner, why was the cash out check written to myself and my wife and mailed to the the house 's address? My complaint includes 4 key points : 1. The Uniform Residential Loan Application, note and security instrument, ( which I signed ) and settlement paperwork all have identified me as an occupying coborrower, but my name was not added to the property 's title/Deed. ( I have proven that this was my principle at this address for? number of years and have been the main obligor responsible for repayment of the mortgage. ) a. This is a direct contradiction to HUD 4155.1 4.A.1.d, " Both occupying and non-occupying borrowers and coborrowers : take title to the property at settlement, are obligated on the mortgage note, and must sign all security instruments. '' b. This is a direct contradiction to HUD 4155.1 4.A1.e " Cosigners do not hold ownership interest in a property are obligated on the mortgage note and have no liability for repaying the obligation, and must complete and sign all loan documents except the security instruments. '' XXXX This is a direct contradiction to HUD 4155.1 4.C.3.c which reads : " To enhance the sustainability of homeownership for borrowers with insufficient credit histories, the qualifying ratios are computed only on those borrowers occupying the property and obligated on the loan. Non-occupant coborrowers may not be included. '' 2. the title was never updated even though we both signed the security instrument. To this day the Title/Deed does not reflect my wife 's correct, legal, married name, or my name. HUD 4155.1 2.B 3. When contacting Quicken, they informed me I was not a coborrower, but a non-occupying cosigner with no interest in the property, yet they used my financial history and credit to qualify our refinance loan. This is a direct contradiction to HUD 4155.1 4.A 4. If only a non-occupying cosigner, why was the refi cash out check written to myself and my wife and addressed to us both at the house address? This is a direct contradiction to HUD 4155.1 3.B If nothing else, we would like to have the title corrected to reflect both of our correctly spelled names as appearing on the loan application and documents and back dated to the date of refinance. Thank you, XXXX XXXX
Company Response: Closed with explanation

Disputed: No Timely Response

2017-02-10

DE

Loan servicing, payments, escrow account

Mortgage: FHA mortgage

Complaint: I have a FHA loan with quicken loans and have met the equity for it to fall off but I am still being charged for it. Quicken loans is saying that I am required to pay this until I meet the obligation in of the amortization date stated regardless of what my loan to value is.
Company Response: Closed with explanation

Disputed: No Timely Response

2017-02-09

Philadelphia, PA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: After starting a refinance application with Quicken [ Id. XXXX ] I decided not to continue with them and notified them to that effect on XX/XX/XXXX requesting that they send me a copy of the appraisal for which I had already paid and terminate my application. They have so far not done this. They chose to harass me with repeated phone calls so I eventually blocked their numbers ; they mis-transcribed my email address and then claimed I was using wrong address so they could n't deal with me. Eventually I told them either send me the report or return my money by end of XX/XX/XXXX or I would make a complaint, which I am doing.
Company Response: Closed with explanation

Disputed: No Timely Response

2017-02-09

NE

Settlement process and costs

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: Issue 1 : I applied for Mortgage loan with Quicken Loan and they did my credit check and issued pre-approval and then we agreed for XXXX XXXX ARM [email protected] % for loan amount XXXX with estimated cash to close XXXX. I wrote an additional email to my mortgage consultant to get confirmation that estimated cash to close it correct and and if changes will be XXXX XXXX dollars and not significant. I got the rates locked signed documents for the above quote and have copy of the same with rate locked. On XXXX XXXX they uploaded another quote showing estimated closing cost almost XXXX which was a big shock. I was frustrated called mortgage consultant he said he will get it fixed but days went by nothing got fixed and I was concerned more, I kept calling and escalated till Director but no one helped they say that it was a mathmatical mistake and we cant do that.my decision is based on the quote which was locked on XXXX XXXX and I planned for only XXXX XXXX as closing and dont have additional to pay. I have talked to them but they are not helping at all and not honoring the quote we locked. Issue 2 : They mailed all my document containing my credit report, SSN, Date of birth, all my bank acocunts and credit card details to the New Property Address which has closing date XXXX XXXX instead of sending to my current address. They envelope went through many hands and when I finally I got it it was tampered and already open so all my confidential and credit information already got leaked. This is totally ridiculout and was also reported to Quicken Loan. Thanks, XXXX
Company Response: Closed with monetary relief

Disputed: Yes Timely Response

2017-02-08

South Florida, FL

Application, originator, mortgage broker

Mortgage: Other mortgage

Complaint: Talked to XXXX XXXX XXXX XXXX XXXX at Quicken loans who is supposedly a senior mortgage banker about getting a mortgage. I told him I wanted to be able to pay the mortgage off quickly with no penalties. He told me that when most banks sell mortgages to other banks, the new bank can change the terms, including charging huge fees if you pay it off early but that Quicken does n't do that. I said I do n't believe that is true and that I did n't want to do business with a person who lies. I just think it was unethical and he should be reprimanded in some way.
Company Response: Closed with explanation

Disputed: No Timely Response

2017-02-08

NH

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: I am writing you to report a TILA/RESPA violation regarding Rocket Mortgage. Per the regulation see information below from CFPB webinar and the CFPB small entity guide no online application can require information other than the 6 pi eces of information that constitutes an application. Rocket Mortgage asks me all 6 pie ces of information and required more information without allowing me to continue to submit an application. I really hope that this is stopped because it is a violation and they are at a competitive advantage in setting their system up illegally. Pease see the screen shots and regulatory information provided below to support my findings.
Company Response: Closed with explanation

Disputed: No Timely Response

2017-02-03

MI

Credit decision / Underwriting

Mortgage: Conventional fixed mortgage

Complaint: Applied for mortgage with quicken loans went through process to underwriting. Under writing has problem with my wife who has disputed a bill in collection because she does n't owe the money and actually they owe her money as there should have been a credit on the account. It has been partially resolved but not fully. Quicken loans wants her to remove the dispute and recalculate her credit score which will put her bellow the banks overlay credit score of XXXX. This is a made up score by the bank as there is no minimum credit score required under the harp program. Since the bank required the removal of dispute we would be in agreement provided we could pay the outstanding amount since it is only XXXX dollars and then restore the credit. The bank refuses as they want the score to go down not up. That is how they can kill the loan so they do n't have to refinance us. All this for XXXX dollars.
Company Response: Closed with explanation

Disputed: No Timely Response

2017-02-02

Kawaihae, HI

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: Is Quicken Loans a Fiduciary or is their advertising False or Misleading. A Quicken Loan advertisement running on many podcasts states, " A company that has your best interests in mind. XXXX Mortgage.. '' I believe the plain meaning of these words that a reasonable person understands is that having " Your best interests in mind '' means Quicken Loans will do what is best and right for you, the customer or borrower. It means Quicken Loans will do what 's right for you, even if not necessarily best for them. They want you to believe they will act in your, the borrower 's best interest ... that is with a Fiduciary interest. This on its face seems false. The lender wants a high interest rate, the borrower wants a low interest rate. If they are not a Fiduciary with " your best interests in mind '', then Quicken loans is misleading. This ad was on the XXXX XXXX of XXXX XXXX, 2017 in the first few minutes. XXXX. Also I heard it on the XXXX out this cool episode : XXXX. I continue to hear Quicken loan ad including today on the Economist podcast. I have called Corporate Offices at Quicken Loans and asked about this ad I have not received a reply. I would appreciate appropriate actions to end Quicken Loans apparent false or misleading advertising.
Company Response: Closed with explanation

Disputed: No Timely Response

2017-01-28

Tylertown, MS

Shopping for a loan or lease

Consumer Loan: Installment loan

Complaint: XX/XX/2015 I had applied for a loan with several lenders, one being Quicken Loans for money to build a house using land that I currently own and live on. In the course of the conversation I was treated fairly and basically told I had the loan but towards the end of the conversation I mentioned we own some XXXX not really thinking it had any reference. I was then told that the loan is denied as they ( quicken ) do not make loans to XXXX? I explained that we do not make a living from XXXX, we just have more or less a hobby..some XXXX and XXXX. Is this a legitimate reason for determination : I later received a written letter stating reason was unacceptable property type. My credit is excellent by the way.
Company Response: Closed with explanation

Disputed: Yes Timely Response

2017-01-28

Main Office, VA

Loan servicing, payments, escrow account

Mortgage: FHA mortgage

Complaint: Quickenloans services my mortgage ( # XXXX ) and manages my escrow account for tax & insurance, required as this is an FHA loan. On XXXX XXXX, I changed insurance companies from XXXX insurance company to XXXX XXXX. I informed quickenloans of the change and that I paid for the new policy myself and that they should cancel any future payments/renewals with XXXX. I got a confirmation email from XXXXXXXXXXXX on XXXX/XXXX/2017 XXXX stating that they got my notice of insurance change and instructing me to call XXXX to cancel ( which I did and quickenloans even received a cancelation notice from XXXX ). Nevertheless, Quickenloans paid XXXX {$250.00} for a full year renewal on XXXX XXXX and notified me about the payment only after it was made. I quickly called Quickenloans and told them that they should n't have paid XXXX as I already canceled the XXXX policy and they were informed of it, and they were also informed that i have a new policy which I paid for with XXXX. On the phone they said, that there 's nothing they can do and it 's up to me to go and recover my funds from XXXX ( which I 'm still trying to do ). At this point, I had XXXX live insurance policies on the same property : the policy with XXXX XXXX which I paid for and a policy with XXXX which Quickenloans paid for from my escrow account. Then, on XXXX XXXX 2017, I got a letter from Quickenloans saying that they have no records on insurance on the property and that they are about to order a mandatory insurance ( which would have been a third policy on the same property ). I immediately called QUickenloans and explained again that I have insurance, in fact XXXX policies. They asked that I upload the new certificate of insurance from XXXX XXXX to a website, which I did. Then, today, XXXX XXXX, Quickenloans made another automatic insurance payment from my escrow account (! ) they sent a {$1200.00} payment to XXXX XXXX, even though XXXX XXXX did not send them a bill and I informed them multiple times that I already paid for the insurance on XXXX XXXX. At this point I have XXXX policies, XXXX of which is double paid, and it 's up to me to go recover my overpaid funds from the XXXX insurance companies. Quickenloans is poorly handling my escrow account and irresponsibly sending my escrowed funds all over the place. They mismanage their records and despite multiple phone calls and written communications, they still do n't have their records right which cause the mismanagement of my escrowed funds. My escrow balance now is - {$800.00} (! ) Btw the only reason I paid my own insurance is because my new policy with XXXX is a commercial policy that covers additional properties and Quickenloans does not have the process to handle a prtial payment on a policy. And the double payment they paid paid from my escrow account was very large as they paid the full premium on a the multi-property commercial policy. This experience has been horrible for me and I wasted hours on the phone with Quickenloans and the insurance companies trying to recover my escrowed funds. I would like to be compensated for my wasted time and for Quickenloans to stop making automatic insurance payments from my escrow account. Thanks for your help. XXXX
Company Response: Closed with monetary relief

Disputed: No Timely Response

2017-01-27

Boston, MA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: I recently refinanced my mortgage with Quicken " rocket ''. Quicken repeatedly tried to charge me points for rate locks where ( 1 ) the cost was not disclosed prior to the charge being assessed ; and ( 2 ) no options were presented with regard to the length of the lock or the cost of various alternatives. I refused to pay and Quicken removed the charges but showed no remorse and apparently think there was nothing wrong with their behavior. I believe this practice is costing consumers many millions of dollars per year in needless charges that they are not astute enough to recognize or complain about. I would hope the CFPB would require fuller disclosure of rate lock costs and options. ( I am a XXXX, and had no idea this type of behavior was permissible ).
Company Response: Closed with explanation

Disputed: Yes Timely Response

2017-01-24

Central Heights, IA

Application, originator, mortgage broker

Mortgage: FHA mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2017-01-21

CA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: I applied for a purchase money mortgage for a new home beginning in XXXX of XXXX online with Quicken Loans. I applied jointly with my husband. He is currently retired and is not receiving any pension. I am working and will receive a pension when I retire - projected to be XXXX XXXX, XXXX. We were preapproved in XXXX and signed a contract to purchase a house XXXX XXXX, XXXX. I was told we were approved for the application amount on XXXX XXXX. On XXXX XXXX I was told that Quicken would have to run a new credit bureau report with my husband as primary. This seems to be discrimination against a female applicant that is the primary source of repayment on the loan. I terminated my application with Quicken Loans because of their unfair and deceptive practices i.e. telling me we were approved and then requiring a new credit bureau report. Additionally running another credit report would have had an adverse effect on my credit score.
Company Response: Closed with monetary relief

Disputed: Yes Timely Response

2017-01-20

Piedmont, AL

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2017-01-20

Queens, NY

Application, originator, mortgage broker

Mortgage: FHA mortgage

Complaint: On XX/XX/2016 I filed with Quicken Loans to refinance my mortgage. I paid {$500.00} for the adjuster to give me price on my house. I currently have a FHA Loan at 3.5 % I sent every paper they asked for. Called them every few weeks for update on closing. On XX/XX/XXXX they told me the loan could not be finalized at the rate I was promised because too much time had lapsed. It is not my fault time lapsed. I want my {$500.00} for the adjuster that I paid in full as requested by Quicken Loan and than they cancel?
Company Response: Closed with explanation

Disputed: No Timely Response

2017-01-16

Houston, TX

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: I responded to an ad campaign about HARP loans, just to obtain information on the program. I stated clearly to the individual who called me back, that I was simply seeking information and that I was NOT making an application. He continued to require additional information in order to " give me the information I was seeking ''. They pulled an unauthorized hard credit report from what appeared to be XXXX different companies, each with a different credit bureau, making it appear that I had XXXX hard inquiries, resulting in my credit score declining by XXXX points. I filed a complaint with the XXXX and Quicken has refused to inform the credit bureaus that the credit inquiries were improper, stating that I had provided information that authorized the inquiries, even though I clearly stated that I was not making an application. They stated in their response that I requested a Home Equity loan, which I clearly did not.
Company Response: Closed with explanation

Disputed: No Timely Response

2017-01-14

FL

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: my mortgage payment is n't due till XXXX XXXX 2017 due to plan already set up with resolution team, my - escrow was already sent in and computer at quicken loans has all my records wrong and not up to date.have called and sent a letter to quicken loans resolution team, i also received a mortgage payment letter in mail stating not due till XXXX XXXX 2017
Company Response: Closed with explanation

Disputed: No Timely Response