QUICKEN LOANS, INC.

2016-09-22

Cheshire, OR

Application, originator, mortgage broker

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-21

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-09-21

Okc, OK

Loan modification,collection,foreclosure

Mortgage: FHA mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-21

CT

Credit decision / Underwriting

Mortgage: Conventional fixed mortgage

Complaint: 're quicken loans. I had called them about rates and where I would stand at receiving the rates and if they did a credit check would it be a hard hit, they told me yes. They ask me my birth date and social security number and I gave it him a man named XXXX. I told him not to peruse it because I could n't afford the hard hit on my credit report. He said okay. After he and I hung up, he went and ran a credit check anyway. I was sent an alert via email from XXXX. I checked my credit report and saw that points were removed because of the credit check that they ran without my permission .I would like it to be removed thank you XXXX XXXX.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-20

Bedford, TX

Credit decision / Underwriting

Mortgage: Conventional fixed mortgage

Complaint: We applied for a mortgage and were preapproved XX/XX/XXXX. All required documents including 2 years tax returns were submitted at that time. We put our house up for sale and got it under contract and made an offer on a house and got it under contract. The house we want to purchase is XXXX below the amount we were approved for. My Quicken Loans rep called me today to inform me that after looking at my returns more closely they would not be able to move forward with the loan. We are now going to be homeless. We have XXXX+ credit scores and have XXXX % to put down. This is wrong. These companies should not be allowed to do this to people.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-20

Grover Beach, CA

Application, originator, mortgage broker

Mortgage: FHA mortgage

Complaint: On the XXXX show XXXX while they are showing a buyer looking at a home for sale, a flash at the bottom corner of the screen, says " XXXX payment is {$2000.00} ''. being in lending for 48 years, I know that in order to quote a payment, you must also show, APR, loan amount, term, etc. ALL THEY QUOTE IS THE PAYMENT!!!!!!!!!!!! XXXX XXXX is owned by Quicken Loans, a huge National Mortgage Company. This is not right for them to do this, and must be stopped now!!!!!!!!!!!!
Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-09-20

Halyoke, MA

Application, originator, mortgage broker

Mortgage: VA mortgage

Complaint: We believe we have experienced some unlawful practices throughout the course of our mortgage refinances with XXXX XXXX ... XXXX of our largest complaints is that we subsequently refinanced with Quicken. I believe XXXX XXXX withheld monies in our escrow account ... They were never refunded directly to us or forwarded to our refinance. Our second complaint is in regard to Quicken Mortgage Refi. At the t of our refinance we were given XXXX ARM set at XXXX & for 5 years unless the interest rate dropped lower that the 3.75 % and if we requested we were eligible for automatic interest reset to that fixed interest for duration of the loan ... without cost. Quicken has not honored that promise.This is deception! We request your help for our sake as well that of others. Thank you, XXXX
Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-19

Blooming Valley, PA

Credit decision / Underwriting

Mortgage: Home equity loan or line of credit

Company Response: Closed with monetary relief

Disputed: No Timely Response

2016-09-17

Foothill Ranch, CA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: Hello CFPB team, please look into this situation with mortgage rate through Quicken Loans # 1 lender in America. On XXXX/XXXX/16 I filled out on line form and received a call from a Mortgage Banker XXXX XXXX XXXX # XXXX. I told the person that was referred by a coworker that just completed a refinance through Quicken and was able to low his mortgage payment. The loan representative told me that the lower rate available is 3.25 % today. She collected some basic information and asked permission to run my credit. I gave the persmission because I was under the impression that I am getting a lower rate, what I was quoted by her at 3.25 %!! After a few minutes into a phone call she told me that there is some savings for me to do this refinance and gave me a dollar amount for the payment. The payment was {$80.00} less then what I am currently paying. I told her I want to start the process. However, in a sudden XXXX indicated that it is going to cost me {$8000.00} to get this rate, but it is the lowest rate available!! Really?! Is it still required under Reg. Z to provide consumer with APR once rate is quoted? Why credit was ran and personal information was collected to mislead me from the start that the quoted rate is available at no cost if no APR was provided?? How many people fall into this trap with the # 1 lender in a country that 's running their adds on TV, radio and all over the internet. My question is : " Will the Quicken Loans Company going to be held accountable for this? Is Senior Management going to provide resources to train their mortgage bankers to provide the benefits for consumers and not just generate more business for the company? Or trap more homeowners to do something that has ZERO benefits? The call was recorded. I wish Quicken to honor what they stated over the phone to me. Thank you for looking into this & hopefully less homeowners will be in such terrible situation. I felt very bad after this call.. plus I keep getting emails from Quicken to my Inbox with more attractive deals.. Are they REAL?!
Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-14

Wayland, MI

Application, originator, mortgage broker

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-13

Staten Island, NY

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-09-13

Henrico, VA

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-12

Medford, OR

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-12

Key Biscayne, FL

Application, originator, mortgage broker

Mortgage: Home equity loan or line of credit

Complaint: On Friday, XXXX/XXXX/16, I called Quicken Loans about a potential refinancing of my existing mortgage. I explicitly told the representative what I was looking for, the term of the loan, and the minimum cash out amount that I needed ( {$140000.00} ). I told him that if the cash amount I needed was not possible, I would not be interested in refinancing since it would not serve my needs. He stated that I would be able to get the amount required, perhaps about {$5000.00} - {$7000.00} less ( which I did not object ), and the rate would be 2.99 %. He then said that he needed to " profile me ''. I told him that I would be ok as long as the cash out amount and the rate were accurate ( emphasis on these conditions ). After he ran my credit, he said everything was fine and I would be receiving a good faith estimate shortly. To my surprise, not only the cash out amount was substantially lower - {$120000.00}, more than {$20000.00} less than what I required! - the 2.99 % rate required more than 3.5 % in points, which he did not disclose! I emailed him back twice and received no response. I feel that I was cheated during the process so he could run my credit score and initiate the application, most likely because his compensation is tied to those metrics. He should have disclosed the points and Quicken Loan 's experience in this industry should have been more than sufficient to give an approximate cash out amount based on the closing costs, at the very least that the amount would not approximate my desired outcome.
Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-09-11

Palos Park, IL

Application, originator, mortgage broker

Mortgage: FHA mortgage

Complaint: I am a Veteran. I Applied for mortgage loan with Quicken Loans in XXXX 2016. Was advised that FHA was best route for me to go based off fees and current market interest rates and my credit at the time. Was advised and lead to lock in interest rate to protect against possible market decline. But was assured if rates and market got better i would be able to take advantage of best situation. Sign a lock rate disclosure that expired on XXXX XXXX 2016 XXXX XXXX 2016 came and went loan not closed still processing. Mortgage market rates got lowered i was informed i was still locked in at previous higher rates due to an AUTOMATIC Rate Lock Extension ( never expressly disclosed or implied in any documents i had signed or received ) This AUTOMATIC rate lock was be expire in 15 days it did not. It AUTOMATICALLY extended for an additional 15 days then an additional 15 days then a additional 15 days. I inquired with several at QUICKEN my loan officer ( it just the way it is ) his supervisor ( this is the way we always do our rate locks ) and a customer solutions specialist ( aw i see where this could be confusing to a customer but this is the way it is ) At no time did anyone address that fact that this process of AUTOMATICALLY extended rate lock and not a allowing consumer to take advantage of better market pricing as a result of it addressed by anyone at Quicken. Please let me know if i am the last one to the party. As i feel that this practice is a violation of truth in lending laws and possible predatory lending practices as the bank have you at their mercy.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-09

Everett, WA

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-09-08

Tulsa, OK

Credit decision / Underwriting

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-07

Pulaski, MS

Loan servicing, payments, escrow account

Mortgage: VA mortgage

Complaint: While XXXX on military duty. Quicken Loans reported we did not pay our mortgage. This is not true. We proved the auto payment was made. We have disputed over and over. Finally we gave up and in exchange for an agreement by Quicken Loans representatives to remove the 30 day reporting we paid again. After one month negative info returned. We paid another additional payment and again the incorrect information returned. What s so frustrating is even if this was true we missed one payment. But it 's reported as 30 days every month we were disputing. So instead of XXXX 30 day late we have XXXX even though every month there was a payment received. It 's immoral that any organization can be completely unregulated with unlimited power to destroy lives. Lies over and over. Our lives destroyed. 30 years of faithful service to this nation. We have no rights. We want this information removed now. I 've filed a congressional. We will never stop fighting these despicable horrible people. When we allow banks the power to destroy soldiers while out the country we prove what kind of people we really are. XXXX XXXX
Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-01

La Porte, IN

Application, originator, mortgage broker

Mortgage: Home equity loan or line of credit

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-08-29

Finksburg, MD

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-08-29

Canton, GA

Settlement process and costs

Mortgage: VA mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-08-24

Blairstown, IA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: I was lied to by quicken loans about a credit inquiry. I asked for information regarding loan rates and general information before even applying for a loan or having my credit pulled. I was told that a hard credit pull would not happen but they needed to collect some general information to run scenarios. I was just simply trying to explore possible solutions to my wants. This company explicitly lied to me and when i contacted them they said that i consented to a credit pull so they did nothing wrong. I spent an hour yesterday with them and another hour on the phone with XXXX and quicken loans and both companies tell me they ca n't remove it. I did n't even get a rate or discuss anything that i was looking into doing with my mortgage.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-08-23

Sun, AZ

Application, originator, mortgage broker

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-08-19

Discovery Bay, CA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-08-18

Orlando, FL

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response