QUICKEN LOANS, INC.

2017-01-14

Sierra Madre, CA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: I Inquired about a refinance of my home with Quicken loans. I was told my interest rate would be 3.5 % and my closing costs would be {$2500.00}. I received in the US mail documents for me to sign showing that my loan costs were over {$4900.00}. I was asked to give a {$500.00} Depost for the apprasial. I have had no apprasial done as of yet and I have cancelled my loan with Quicken. I want my deposit back as I was mislead about the amount of closing costs. I originally spoke with XXXX XXXX # XXXX. I feel he lied to me to get a {$500.00} deposit. He also told me the {$500.00} would be deducted fromy closing costs. The paperwork does not reflect my deposit. I feel scammed. Now that I want out of this loan, nobody is communicating with me regarding this matter. Quicken Loans operates a scam to get people to pay {$500.00}.
Company Response: Closed with monetary relief

Disputed: No Timely Response

2017-01-14

Lewiston, NY

Credit decision / Underwriting

Mortgage: FHA mortgage

Complaint: Applied for a mortgage with quicken loans my credit pulled up as XXXX XXXX XXXX and got a pre approval letter then was told I had active disputes witch I definitely did not was only dispute comments from old disputes so they had me remove them and re pulled my credit once again and middle number was XXXX and their is this program out their XXXX to XXXX buy had to remove other dispute comments and they prob will have to run my credit again witch will drop my score again
Company Response: Closed with explanation

Disputed: No Timely Response

2017-01-13

Lewisville, TX

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: I received a loan estimate for Quicken Loans on a new construction home. The loan estimate is what I used to select the mortgage company I selected. Quicken 's loan estimate indicated a {$2200.00} Adjustment/Credit, which I inquired about. I was told by the loan originator that it was money collected from closing which would be forwarded to other parties, such as insurance and HOA dues. This seemed to make sense because I had explained I did not want to escrow my taxes or insurance. The " cash to close '' amount is specifically what I used to proceed with Quicken, rather than the builder 's mortgage company, who was providing {$2500.00} incentive to close with them ( XXXX ). A week before closing, my loan estimate went up by {$3000.00}, even though they removed the homeowners insurance amount, as I paid this up front with the insurance company. When I inquired about the jump with mortgage loan originator, he referred me to his supervisor, XXXX. XXXX explained the problem was a calculation error and that it had to do with pro-rated taxes which the builder was responsible for which was no longer available since the loan moved from XX/XX/XXXX to XX/XX/XXXX. After I researched on my own about what Adjustments/Credits should include, I found that what both the originator and supervisor explained is simply not true. My understanding is that the Adjustment/Credits would include items collected in the loan and other charges section, which would be paid by someone else and not the buyer 's responsibility. So now I 'm confused as to why the ever had a credit listed on my loan estimate, which was never a valid credit to begin with. It seems to me this may have been used to lure me with a lower cash to close, only to remove it once my loan was close to closing so I had no choice but to continue with the loan. I 'm providing a loan estimate received on XX/XX/XXXX which had the credit, and the recent loan estimate dated XX/XX/XXXX with it removed. No explanation ever provided.
Company Response: Closed with explanation

Disputed: No Timely Response

2017-01-11

Dolton, IL

Application, originator, mortgage broker

Mortgage: VA mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2017-01-11

Baltimore, MD

Identity theft / Fraud / Embezzlement

Credit card:

Company Response: Closed with monetary relief

Disputed: No Timely Response

2017-01-06

Pittston, ME

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2017-01-06

Bloomington, MN

Cont'd attempts collect debt not owed

Debt collection: I do not know

Debt is not mine
Complaint: Unauthorized inquiry and/or unknown company
Company Response: Closed with explanation

Disputed: Yes Timely Response

2017-01-06

Itasca, IL

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: Quicken Loans mailed me a notice that claimed I was prequalified to refinance my home mortgage. ( My mortgage is currently with another lender. ) The notice claimed " You 're already prequalified to refinance your home loan at a low, 30-year fixed interest rate of 4.125 % ( 4.273 % APR ). This lower rate could reduce your monthly mortgage payment to {$1500.00}! '' The claim clearly indicates that my current mortgage rate is higher than their rate and that my monthly payments would go down with this refinance. They even mention my current approximate mortgage balance in the advertisement which gave me the impression that they have my current loan information from my recorded mortgage or credit report. However, my current mortgage rate is much lower ( 3.25 % fixed for 30 years originated in XXXX 2012 ) and later in the fine print they also planned to charge me 1.75 % in points to get their higher interest rate. The P & I payment they quote of {$1500.00} is slightly lower that my current P & I payment of {$1500.00} but they are re-amortizing my current balance over a new 30 year period to achieve that $ XXXXmonth savings! This refinance would cost me considerably more interest over the term of the loan despite the lower payment. Clearly, their claims are not in my best interest and are deceptive ; particularly, their claim that they will lower my interest rate.
Company Response: Closed with explanation

Disputed: Yes Timely Response

2017-01-04

Application, originator, mortgage broker

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2017-01-04

Oxford, GA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: Quicken Loans deliberately allowed my rate lock to expire so they would not have to honor their rate commitment to me, even though they verbally agreed to extend my rate lock.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-12-28

Ogden, NY

Application, originator, mortgage broker

Mortgage: VA mortgage

Company Response: Closed with monetary relief

Disputed: No Timely Response

2016-12-28

Bethlehem, PA

Application, originator, mortgage broker

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Closed with explanation

Disputed: No Timely Response

2016-12-28

IN

Application, originator, mortgage broker

Mortgage: VA mortgage

Complaint: AVOID QUICKEN LOAN. Working with Quicken on a VA refinance loan was a terrible experience for me. I initially contacted them on or about XXXX XXXX. On XXXX XXXX I sent them a letter, at their request, explaining my intentions. Based on the letter and my proof of service, they informed me that I was eligible. I proceeded, at their direction, with the actions required by the XXXXappraisal, the pest inspection, well water test & treatment. All together about {$1000.00} out of my pocket. On XXXX XXXX, after I had done everything they asked & after Quicken had received all the necessary documents to close, they informed me that I was ineligible for the loan. Long story short, they agreed to refund the cost of the appraisal only. Meaning I wasted {$600.00} to accomplish what they told me to accomplish. AVOID QUICKEN LOAN.
Company Response: Closed with monetary relief

Disputed: Yes Timely Response

2016-12-24

Richmond, TX

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-12-23

Kendall, FL

Managing the loan or lease

Consumer Loan: Installment loan

Company Response: Closed with explanation

Disputed: No Timely Response

2016-12-22

Lewisville, TX

Credit decision / Underwriting

Mortgage: Conventional fixed mortgage

Complaint: I applied for a loan with QuickenLoans through their so-called " XXXX '' platform. I was quoted a rate on the first day and requested getting locked in. It took Quicken weeks to eventually tell me that I do not meet their underwriting guidelines, even though my loan rep continuously conveyed optimism that I would be approved. During those several weeks, rates climbed at unprecedented levels. I strongly suspect the decision to decline had more to do with the climbing rates and Quicken 's failure to lock in my rate.in other words, they did n't want to absorb the cost of their failure to hedge and declined me instead. Even if that is not the case, I lost several weeks thinking I was getting approved and was locked in. Now, with rates likely to continue to rise, I 've lost the opportunity to refi and their incompetence will cost me XXXX of dollars!
Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-12-21

Application, originator, mortgage broker

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-12-21

Cleveland, OH

Customer service / Customer relations

Credit card:

Company Response: Closed with explanation

Disputed: No Timely Response

2016-12-21

Stevenson, MD

Loan modification,collection,foreclosure

Mortgage: VA mortgage

Complaint: Quicken loans contacted my father while he was XXXX and was not legally supposed to sign any documents. The documents were hidden from me and I found them when my father passed away. I advised quicken loans that he passed away and they told me I could modify or refinance my fathers house. I told them the house was not worth what the amount of the loan was. I had the house appraised in XX/XX/2016 and the house appraised for {$230000.00}. When quicken loans sent someone to appraise my fathers house, they used comps that were not comperable to my fathers home. They used comps not near my dads home and homes that were for sale and did n't sell yet. I opted to do a short sale on the house, quicken loans approved the short sale as well as the va. I have had nothing but headaches since my father passed with quicken loans. They did. A loan with a man that was XXXX, XXXX, XXXX and when I asked them how they could do that, their answer was if he can sign his name he can have a mortgage. Quicken loans is the worst place and I would never recommend them to anyone. What they did to my father was a predatory loan and is illegal. I will let everyone know what they did to my father and the home that was in our family for 48 years. They would rather sell the house to a complete stranger then to his daughter. They will receive less then the $ XXXX I offered.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-12-20

Turners Sta, KY

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-12-20

Superstition Mtn, AZ

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: In the beginning Quicken Loans made my husband move out of state and actively be working in the state we were going to buy in. We were given a closure date and when we were XXXX hours from home they pulled the date stating they could n't verify his employment and leaving us homeless. They are now claiming this didnt happen. Even though I have proof. They refused to give us a copy of escrow, and my husband did work there. all because they didnt update their systems. They lost tons of our documents. ( more info on request ) Then we asked to refinance I asked them not to call my work. They called my work and due to the company I worked for I XXXX. When they sent a appraiser he was an hour late. He compared our two story house to single story homes. The appraiser moved our house on a map. He moved it to the bad side of town. QL loans said they cant help me even though its the company they pick and use for 80 % of their apparels.I had to file a report and have him convicted with the appraisal board. We were forced to file bankruptcy. My attorney had to threaten them three times to restart sending statements ( more info upon request ) Several times over the years we just randomly stop getting statements. This went on for 6 month over the last year. They are misappropriating funds over this last year. It was explained to them multiple times that all extra moneys be sent to principle. We set this up years ago. They changed my loan without notification to prepaid. All extra money on accidental over payment have been payed to the next bill. We have been fighting this for the last year. XXXX XXXX is the only one that will deal with our accounts. Our number are all directed to her VM only. She hasnt helped us in the last year. Im having to call monthly-ish to fix our stuff. She out right refused to help us in XXXX. The extra money should have gone to the principle, but it went to the next payment. She stated she didnt know what to reverse so either they reverse something and we occur a late fee or we leave it and we " lose the money ''. Speaking with her has caused me to get severe hives. I have file endless complaints and they all seem to go to her. She never at fault, but they wont fix our issue. ( more info upon request ) This is the only thing my husband and I argue about. They are ruining our lives. I have tons of proof to the horrors of the last several years. Ive filed complains to QL and XXXX. It seems QL is to big and no one will help us.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-12-20

NJ

Settlement process and costs

Mortgage: FHA mortgage

Complaint: XX/XX/2016, I went on XXXX due to a lower back injury I suffered on the Job. I started receiving social security XXXX benefits. Due the hardship of my financial situation, I request a mortgage modification. Quicken loans, put me through a trial period of payments, ( Which I completed ) Then Quicken loans ask me when will I be ready to sign the NEW mortgage modification documents. I stated to quicken loans that my ex-wife and I are no longer together and we are in the process of a divorce. However, Quicken loans persisted that my ex-wife needed to sign the new mortgage modification. I explain to quicken loans that my ex-wife is in XXXX, MA and it will take some time to locate her. When I was able to locate her ; I had her sign the quitclaim forms. This quit claim forms was drafted by my attorney. ( Please see scan 1 ) Once the quitclaim was filed with XXXX county register office and accepted. I forward a copy to Quicken Loans. Now Quicken Loans is stating that proper wording was not used in the form. ( Please see scan 2 ) Then Quicken loans forward me an email showing the wording they want on the quick claim. Then my attorney cut and pasted the exact wording they wanted. ( Please see scan 3 ) Then I forward them the new quitclaim with their wording, just to make sure before I go crazy again looking for my ex-wife in XXXX, MA. Then today XX/XX/2016 they state, that the wording is still incorrect. I 'm filing a complaint because it looks like quicken loans is trying to set me up for a foreclosure on my property. Plus my ex-wife name was not on the deed and she is not on the title of my home, however they still want her to sign.
Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-12-19

Oak Grove, MO

Credit decision / Underwriting

Mortgage: Home equity loan or line of credit

Complaint: My XXXX and I were interested in obtaining a Home Equity Line of credit to make XXXX on our home. The lender told us there would be a 'drive by ' appraisal to assess the value of our home. The XXXX called me directly and asked me how much I paid for my house. I told him, thinking this was normal for this process. He assessed the property for {$30000.00} less than what it was assessed only XXXX XXXX years ago. The lender then informed me that we would have to pay off our original loan by a certain amount ( through the use of the HELOC ) in order for us to progress. I knew enough to not move forward with this, due to the fact that it was an adjustable rate and my existing home loan has a very low APR. I just want to be sure no one else falls victim to this scenario.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-12-19

IL

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: We had Quicken Loans as a mortgage lender from XX/XX/XXXX through XX/XX/XXXX. We refinanced at that time with XXXX as our new mortgage lender. We have had XXXX as our mortgage lender since. On XX/XX/XXXX, Quicken Loans contacted our home insurance provider ( XXXX ) and requested the below : 1 ) Change the name of the mortgage provider on our home insurance policy FROM XXXX TO Quicken Loans ( thus changing the mortgage e-clause ) 2 ) Change the payment preferences FROM us ( XXXX XXXX XXXX TO Quicken Loans. They indicated they will not be escrowing the funds from our monthly mortgage statement. ( Note : We have always paid our home insurance in full the minute we renew. Additionally, Quicken Loans is obviously not our current mortgage lender ... so they are not issuing any statements to us. ) 3 ) Quicken Loans requested our home insurance policy information ( which XXXX provided XXXX which included our active mortgage loan number with XXXX. I called on XX/XX/XXXX and spoke to XXXX. that works at XXXX. She provided the information of what was changed and indicated that XXXX is legally able to provide information to mortgage companies that have names and addresses of XXXX 's customers. I am very uncomfortable and feel violated and am not sure why Quicken Loans would call on a loan that is not active ( for well over a year ) to obtain my personal information ( including my active mortgage loan number ), change my payment preferences, and update my current mortgage information to their name?
Company Response: Closed with non-monetary relief

Disputed: No Timely Response

2016-12-16

Grapevine, TX

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response