QUICKEN LOANS, INC.

2016-10-18

Discovery Bay, CA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: Name of the product or service involved. - REFINANCE The dollar amount in dispute. - {$400.00} APPRAISAL FEE The date of the transaction. - XXXX/XXXX/2016 Identify your attempts to resolve the issue ( s ) with the company, corporation, or organization. - I COMMUNICATED WITH QUICKEN LOANS MY BELIEF THAT I WAS N'T TREATED FAIRLY DURING THE REFINANCE LOAN APPLICATION PROCESS, IN PARTICULAR, IN THE HANDLING OF THE ENTIRE APPRAISAL PROCESS. ESSENTIALLY MY GRIEVANCE WAS THAT I MAY HAVE BEEN A VICTIM OF A " BAIT AND SWITCH '' TACTIC. IN SHORT, BEFORE I APPLIED TO REFINANCE WITH QL, I SHOPPED AROUND FOR THE BEST DEAL AND SHARED QL 'S LOAN ESTIMATE WITH MULTIPLE LENDERS. THE FEEDBACK I RECEIVED FROM THE OTHER LENDERS WAS THAT THE XXXX PROVIDED BY QL WAS BELOW MARKET AT THE TIME AND TYPICALLY WOULD REQUIRE PAYING POINTS TO BUY DOWN AT QL 'S QUOTED RATE. I ELECTED TO MOVE FORWARD WITH QL IN GOOD FAITH. AS THE APPRAISAL PROCESS UNFOLDED, THERE WERE RED FLAGS. IN PARTICULAR, THE APPRAISAL COMPANY USED ( XXXX XXXX ) IS AFFILIATED WITH QL AND BOTH XXXX AND QL ARE OWNED SUBIDIARIES OF XXXX XXXX XXXX AS THE APPRAISAL PROCESS UNFOLED, THE OUTCOME WAS ME BEING CHARGED POINTS FOR THE LOAN WHICH TURNS OUT TO BE WHAT THE LENDERS FORETOLD ME. I SHARED MY CONCERNS WITH QL AND REQUESTED FOR A REFUND OF MY APPRAISAL FEE DUE TO THE POSSIBLE CONFLICT OF INTEREST BETWEEN XXXX AND QL. UNFORTUNATELY, WE WERE NOT ABLE TO COME TO A SATISFACTORY CONCLUSION. I HAVE ELECTED TO WITHDRAW MY REFINANCE APPLICATION AND PURSUE RECOURSE SUCH AS THIS COMPLAINT.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-10-18

LA

Settlement process and costs

Mortgage: Conventional fixed mortgage

Complaint: QuickenLoans was well aware that an active dispute is present on my credit report. They requested and was provided a dispute explanation letter. I was told explicitly that I was financially approved. Now, with less than a week to scheduled closing, they are requiring the dispute to be removed before finalizing the loan. I have spent the last month working with the sellers to gather documentation and purchase insurance policies, sometimes missing work to get everything accomplished in time for closing. This dispute removal demand puts the sale at risk. If this loan is not finalized, I have wasted a month and lost money.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-10-18

Salisbury, NC

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-10-17

Penns Park, PA

Credit decision / Underwriting

Mortgage: Conventional fixed mortgage

Complaint: I recently applied for a second home mortgage and was conditionally approved and 4 weeks prior to settlement I Informed that since I already have an investment property XXXX of a mile away, I was forced to take the investment loan which at the current rate I locked into would have cost me an additional {$4800.00}. I was told that since I have a a history of investment properties all documented on my tax return, I am not allowed to have a second home. I just sold my primary residence for the only reason to obtain a second home at the shore for my family. I do not even have a second home or primary at the moment. My goal was to secure this mortgage as a primary or secondary residence. I feel that based on my age of XXXX and Origin of the other property, I was discriminated against.
Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-10-17

Buck, PA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-10-15

Ernul, NC

Loan servicing, payments, escrow account

Mortgage: VA mortgage

Complaint: I closed on a loan with the Mortage Company, Quicken Loans, I closed with a fixed 30yr rate set at one montly rate. I had the loan since XXXX 2016, four month an now they send me a notice, stating that my montly Loan payment amount is going to increase by {$60.00} or {$70.00} per month. added to what im paying now. I cant afford it I have XXXX kid 's to support, an pay childsupport, is n't something like that illegal, I have a fixed montly rate, my insurance has not increased, an my tax rate has not, change. I have the Loan for four months. can you please help me.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-10-13

Library, PA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: Quicken Loans seriously XXXX my escrow account. My mortgage payment was lowered from {$630.00} to {$610.00} XX/XX/XXXX and was given a check for {$1300.00} in overage from my account. i received the new analysis today and i am $ -XXXX short in my escrow and they want to raise my payment to {$840.00} to cover their mistake.
Company Response: Closed with monetary relief

Disputed: No Timely Response

2016-10-13

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-10-12

Vicksburg, MI

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-10-12

Discovery Bay, CA

Application, originator, mortgage broker

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: I submitted information on XXXX XXXX 's website. We were looking for a refinance with cash out to do home improvement work. Quicken Loan 's contacted us. After a conversation with XXXX XXXX XXXX, a Senior Power Banker there, I told her we were not interested as their fees were much higher than we had been quoted else where. We have since received XXXX sets of documents for them as if we are proceeding with the loan. I feel this is very predatory in nature.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-10-12

Wann, OK

Settlement process and costs

Mortgage: Conventional fixed mortgage

Complaint: I contacted Quicken Loans for a home mortgage loan and was quoted an interest rate of 2.99 % with no fees charged by the lender. Even though I could n't tell the Estimated Closing Costs contained a XXXX % origination or points charge, I signed the form anyway. I have complained to Quicken Loans that I was not informed of paying points. I have asked them to produce the recordings of my conversation with their loan officer where he fully explained that I was paying points. They have not provided such confirmation. I must pay it to close but want them investigated for predatory practices. If they do this to me, I 'm sure they do this to numerous individuals. Thank you
Company Response: Closed with explanation

Disputed: No Timely Response

2016-10-11

Augusta, GA

Application, originator, mortgage broker

Mortgage: VA mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-10-11

Austin, TX

Credit decision / Underwriting

Mortgage: Conventional fixed mortgage

Complaint: Quicken loans provides pre-approval letters without doing due diligence. This results in delaying closings which have financial impacts to buyers and sellers. When I bought my house in XXXX XXXX, MI they kept delaying my closing because they would not get their act together. Now that am selling the house, quicken loans provided a closing date of XX/XX/XXXX, and today one day before the closing they once again send out a statement saying they need to delay the closing one week. How can the government allow such abuse of the average citixpzen by the big company.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-10-10

Tulsa, OK

Application, originator, mortgage broker

Mortgage: FHA mortgage

Complaint: Hi. There, I am a XXXX in XXXX. Before I was XXXX, when I was in XXXX, OK where I reside, I decided to apply for refinancing my house because I am paying 8 % interest rate for the last 16 years. I started my refinancing loan process with Quicken Loans. Quicken Loans asked me many questions and when they found out that I am going to be XXXX, they asked me to provide them the copy of my contract from the employer as part of the assurance that I have a job or job offer. During the course of refinancing, I was told that Quicken Loans will get me HUD loan and I paid some fees and loan refinancing process was started. The Quicken Loans asked me to provide the XXXX pay stubs and I explain them that I will be able to provide the pay stubs in one month because I have to be XXXX there and receive the pay, which the Quicken Loans agreed. When I arrived in XXXX, XXXX. Due to XXXX I was required to travel on location where there is no internet and I could n't submit my XXXX pay stub and the Quicken Loans stopped the process in the middle and rejected my refinancing application. When I returned from the mission they said since, I could n't provide the pay stub on time therefore, they had reject my application. Since, I submitted the latest pay stubs upon my return XXXX, the Quicken Loans restarted the loan refinancing process and this time they told me that they will get me refinance for FHA loan. All the process was started once again and they told me that when I will be returned to the USA and sign the loan ( I told them that I will not return until XX/XX/XXXX per the XXXX contract ), So, they could close the loan by XX/XX/XXXX or XX/XX/XXXX. I told them that I can come to a nearest embassy to sign off the loan and they agreed and said yes that is possible. I requested them a ten days advance notice because in Military establishment we have to follow the military rules and ca n't just go on time off. I have to abide by the US military rules and give at least a 10 days advance notice to my Military commander for time off. Quicken Loans now started playing games with me and once they told me that underwriters are working on the loan and they take their time and it will not be possible to have the loan signed by XX/XX/XXXX or XX/XX/XXXX. I told them I am not asking to close on XX/XX/XXXX or XX/XX/XXXX but I am asking to close the loan by XX/XX/XXXX. They said yeas that is possible and kept me in limbo. Once they said yes go ahead and get ready and there is a possibility that we can close the loan by XX/XX/XXXX. I gave a ten days notice to my Military commander and he approved my time off for three days to go to XXXX, XXXX to sign off the refinancing loan. When the Quicken Loans heard that I got approved for the time off and travel they said that underwriter say that you have more than 6 months unemployment on your record and therefore the refinancing ca n't be done. I provided them all the proofs that I was employed or working then they came up with reason that they were in the impression that I am XXXX and as a matter of fact I am not. Therefore, Per the FHA guidelines I am not eligible for refinancing. When I reviewed the FHA guidelines and found that I am eligible for the refinancing for FHA loans and decided to file this complaint at your office.
Company Response: Closed with monetary relief

Disputed: No Timely Response

2016-10-09

VA

Loan servicing, payments, escrow account

Mortgage: FHA mortgage

Complaint: I am currently paying Mortgage Insurance to Quicken Loans of {$120.00} and have been paying this for four years. I have heard that the Mortgage insurance should drop in 2017, then I was told by Quicken Loans it should drop in one or two years, and then most recently I was told by Quicken Loans it would be 11 years : ( and would I like to refinance with a different type of loan to get rid of it. I would like to know when this money will no longer be charged. It would help us tremendously to get this payment lowered. I do n't like the run around I get every time I call Quicken, they are always wanting us to apply for a different type of loan or to refinance our loan. I would like without a doubt an answer as to when the {$120.00} Mortgage Insurance Payment will drop off our monthly house bill. Thank you for your time in looking into this for us. Sincerely, XXXX XXXX. XXXX
Company Response: Closed with explanation

Disputed: No Timely Response

2016-10-08

Mill Valley, CA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: I received a solicitation from Quicken Loans for a refinance, which grossly misrepresented the facts, and was basically a lie.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-10-06

Murray, UT

Settlement process and costs

Mortgage: FHA mortgage

Complaint: Quicken first committed bait and switch practices by stating I would get a full refund for a XXXX dollar deposit, when I did not receive the full refund I called to find out why, their terms and conditions state they can pull fees from that deposit. Quicken then assisted the appraisal company in committing fraud by stating repairs had been verified as completed when they had not, resulting another inspection. I submitted evidence and was able to get this XXXX fee waived. Quicken was caught in lies several times, they would tell me one thing about the process and then when I spoke to my realtor I found out the truth was entirely different. I believe this is because I am a first time home buyer with a small loan, Quicken tried to take advantage of me. And finally they are committing extortion. My closing was pushed back several weeks due to their mishandling and even though weeks ago I asked them to get a fee waived by the appraisal company because this company committed fraud in order to generate more income ( they claimed they did not have full access to property when all sellers, realtors, and I can confirm all keys were available at time of appraisal. ) They made no attempts to get this corrected until XXXX ( this was requested XXXX ) and now that I am at closing I was informed I ca n't close on my house if I continue to fight these fees. If I close on the house then I waive my rights to fight the charges. They know that I have no choice to accept the extra charges because I had been required to vacate my current residence XXXX. I feel they purposely waited and backed me into a corner where they could take the most advantage of me. As they push my loan farther and farther back I get closer to the point where my rate will no longer be locked in, and they will have the opportunity to raise it, I am afraid this is the direction this is headed in, and again I will have no choice but to accept it because I desperately need a place to live.
Company Response: Closed with monetary relief

Disputed: No Timely Response

2016-10-05

Foothill Ranch, CA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: Hello, I submitted a refinancing application to Quicken Loans for XXXX of our XXXX homes in order to pay down some unexpected debts. My loan application was approved pending an appraisal of the property. After sending all the documentations to Quicken Loans. I was asked to provide many years of tax information going back to XXXX and I did that. Finally, they came back saying that they ca n't move forward, because appraiser could n't find a comp for the property ; which seems odd, because there are several rented properties in XXXX mils radius of our home. I asked for a copy of the appraiser 's report and they indicated that there was no appraisal and therefore I asked for a refund of my {$500.00} appraisal fee back and an explanation of the process. I have not received neither as of this morning. All they have said is that the appraiser could n't find a Comp. Our rental agent has several properties that he is managing in that area. I understand the separation of broker and appraiser as a result of changed policies after the crash of XXXX ; however, there is clearly a problem with this process because there are available Comps for our property. It seems to me the Quicken Loans did n't want to move forward with this loan and I can accept that. It 's the reason that they are providing that is troubling for me. I have shared this reasoning with several realtors and none of them have heard this reasoning before.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-30

Harsens Is, MI

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: Numbers on final LOAN ESTIMATE ( for property taxes in particular ) went up by more than 50 % from original LOAN ESTIMATION when we decided to proceed. New LOAN ESTIMATE added over $ XXXX to estimated monthly costs ( a rise of over 50 % ) and put the house out of any price range and budget my wife and I would have been comfortable with. We do n't know what recourse we have for such drastic changes, including stepping away from the home purchase, but do n't want to be held liable. We are now stuck between moving forward and buying a home WE KNOW WE CA N'T AFFORD or backing out and losing all our payments so far and risk a lawsuit from the Seller. Loan is with Quicken Loans. Taxes are with XXXX XXXX, Michigan.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-28

Tarzana, CA

Application, originator, mortgage broker

Mortgage: Other mortgage

Complaint: I called to get a quote from Quicken Loans and they insisted they take my social security # to give me a quote based on my credit score. It would be a soft check like a car insurance company would do. It was a XXXX minute phone call. The guy calls me back and gives me a quote for XXXX for a 15 year loan or a 20 year loan for XXXX for {$250.00} XXXX refinance. I told him I was not interested as it is not beating what I had. Within a couple of days I have an estimate in the mail with a 30 year rate for XXXX APR which I never inquired about. I also got calls from the company asking me how my loan was doing. They started an application process even though I never asked for XXXX. I feel like there is fraud and misrepresentation going on with that company and I am outraged. They not only started an application without my knowledge or permission, but they sent a quote for a term I never inquired about or was interested in. It shows me the quote on the phone was a lie as well.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-28

Agra, OK

Application, originator, mortgage broker

Mortgage: FHA mortgage

Complaint: I have had problems with Quicken Loans from the start of the application process in XX/XX/XXXX. They promised to have my loan processed by XX/XX/XXXX and it was XX/XX/XXXX before it was actually closed. The reason for the delay was because they failed to obtain an appraisal. They went outside the area for the appraiser, when they could have had one in my town, and it took the appraiser 30 days to schedule and then 30 days for the report. I also sent the required forms to them as soon as possible and several times they claimed they did not receive them when in fact they had. I am now having problems trying to payoff the loan. A portion of my property was taken by the State of Oklahoma Transportation Department for eminent domain. I received my check from the State on XX/XX/XXXX and called Quicken Loans that same day for instructions for payoff. They told me it would take 3-4 business days to complete the process and to send them a authorization letter along with the signed check. I mailed the required authorization letter, signed check, and copies of the ODOT letter by certified mail on XX/XX/XXXX. I get a call from Quicken Loans on XX/XX/XXXX saying they did not get the authorization letter ( they did not say they got the check ). It scared me because I thought the check was lost. I know that I sent the letter because I made copies of everything I sent. It is not in my files nor in my scanner. I double checked my documents before I sent them. I am very meticulous and organized. Someone at Quicken Loans lost the letter. I was gone from my home for five days and when I got home I checked my messages I found out they did not have the letter. I called Quicken Loans the next day and they told me I had to re-submit it. So I sent a copy by email. The person I spoke with then told me it would take 3-4 days to process it plus 7-10 days for a refund. That was not what they had told me. I was expecting the refund by XX/XX/XXXX at the latest. She also told me that my refund is around {$30000.00} when in fact it is over {$36000.00} because of escrow deposits. I think they are trying to cheat me. I paid a lot of money for this loan. I wish I had never dealt with Quicken Loans. They are unprofessional and do not do as promised. During this whole process I have talked with at least a dozen or more people, never the same person. It was and is still very frustrating. I understand that it takes CFPB 15 days before they can do anything to help, I want to inform the public about Quicken Loans ' procedures and their failure to perform as promised and about possible fraud if in fact they are not paying me my full amount.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-27

Baltimore, MD

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-26

Fort Washington, MD

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: On XXXX XXXX, 2016, I closed on a conventional fixed mortgage loan with Quicken Loan ( QL ). It was a debt consolidation loan. I had XXXX accounts for payment. Quicken Loan only paid off XXXX - my previous mortgage for {$71000.00}. The other XXXX creditors totaling {$73000.00} have not been paid. The accounts were XXXX ( CD ) - {$24000.00} ; XXXX XXXX ( CC ) - {$10000.00} ; XXXX XXXX XXXX XXXX ) - {$17000.00} ; XXXX XXXX XXXX XXXX ) - {$13000.00} ; XXXX - {$3200.00} ; XXXX XXXX - {$2100.00} ; XXXX XXXX - {$1500.00} and XXXX XXXX - {$340.00}. After numerous calls and QL emails the past five months, the XXXX creditors still have not been paid.
Company Response: Closed with monetary relief

Disputed: No Timely Response

2016-09-26

Simi Valley, CA

Settlement process and costs

Mortgage: Other mortgage

Complaint: I started receiving calls daily, sometimes several times a day, from Quicken loans about a refinance. Today, I received an e-mail that is quite deceptive, requesting my income documents : 2015 XXXX and a recent paystub within 30 days. The email message was titles " Quicken Loans Message : Loan File - Legal Questions and Docs Needed '' It sounds like if I do n't do this I am going to be in trouble or have some negative consequence on my existing account. It also at the end says " Once I get these, I will be able to send everything out to your MyQL account, where we can go over everything and e-sign documents. '' Never once in this email does it indicate that this is to apply for a refinance or change any of the parameters of my existing mortgage. For unsavvy consumers, this is a deceptive process made to appear that this information is necessary to update existing mortgages.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-26

South Florida, FL

Application, originator, mortgage broker

Mortgage: VA mortgage

Complaint: I had my original mortgage with Quicken Loans and then refinanced twice. This last time was the worst of XXXX bad experiences. Each time I communicated with Quicken I was given conflicting information leading to mass confusion. I think Quicken is engineered to confuse. I believe they do this to maximize their fees. I have kept a journal of each person with whom I spoke. No one was willing to put the results of the conversation in writing so I could prove the discrepancies in speaking from XXXX person to the other although the calls are recorded by Quicken. Finally, after closing the loan in XXXX, I received a statement on XXXX XXXX for an XXXX payment that was not correct. It was the payment based on my old loan and was more than {$200.00} than my current loan should be. I called and spoke to XXXX. She told me the statement went out before my new payment was calculated and that " You do not have any payment in XXXX. '' On Friday, XXXX XXXX I received a statement for a payment due XXXX XXXX. I called and stated I was told no payment was due. I spoke to XXXX XXXX in " senior management '' who told me indeed the XXXX payment was due XXXX XXXX. I had a sense he did not believe me that I was told otherwise by XXXX and I found him abrasive, at best, and cutting me off in mid-sentence. I did not budget for an XXXX mortgage payment and having a week 's notice imposes a budgeting hardship.I think Quicken should assume some responsibility for this mistake. Waiving the interest for XXXX seems reasonable.
Company Response: Closed with explanation

Disputed: Yes Timely Response