QUICKEN LOANS, INC.

2016-05-25

CO

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: This complaint is against Quicken Loans. My wife and I applied for a mortgage through Quicken. We received pre-approval through the company and as a result paid {$500.00} to Quicken for the loan to proceed to closing. After a period of weeks, Quicken Loans decided not to close the loan because it said it could not count a portion of our income. Our concern is that of two of Quicken Loan 's pre-approval staff gave the loan pre-approval after their review but when the loan went to final underwriting another team decided to disqualify a portion of our income with no explanation. We are concerned that the portion of income Quicken ultimately decided not to use is from our small business that is minority and female-owned. We are concerned that somewhere in the higher ups at Quicken Loan there is a discriminatory reviewer who is implementing discriminatory practices against women and minorities. The company employees who gave pre-approval to our applications are also at a loss to explain why the application was rejected in the final stage.
Company Response: Closed with monetary relief

Disputed: No Timely Response

2016-05-25

Silver Spring, MD

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: In XXXX of XXXX, my wife and I were shopping for mortgages. We spoke with Quicken and a variety of other companies and decided to go with XXXX Bank, a company that has been great. We never gave Quicken the authorization to pull our credit, either verbally or otherwise. Still, a pull appears on our credit report. I wrote to the XXXX credit bureaus to have it removed. All three refused. I called Quicken earlier in XXXX, and they now say that they can not find the pull. As such, they are unable to remove it. They told me to contact the credit bureaus, as well as XXXX. The numbers they gave me, however, do not work. I have attached both mine and my wife 's credit reports from XXXX XXXX as well as the letter I sent to the credit reporting agencies last year. You 'll note that my score is much higher ( not sure why ), and the Quicken pull appears in XXXX. Long story short, they have no record of it = why is it there?
Company Response: Closed with explanation

Disputed: No Timely Response

2016-05-24

Anaheim, CA

Application, originator, mortgage broker

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-05-21

Berthoud, CO

Other transaction issues

Money transfers: Domestic (US) money transfer

Complaint: Quicken Loans pulled {$310.00} out of our checking account and put it into our escrow account without our consent. When I brought this to their attention on XXXX/XXXX/16 they admitted that it was their mistake and they would make it right, however all I get is the run around that they are looking into this and I was supposed to get this money returned within 72 hours into our checking account and I still do not have the money! I called again on XXXX/XXXX/16 and again was given the runaround that some other team will look into it on Monday XXXX/XXXX/16. I need this money! It took them but a nano second to take the money from my account, now why ca n't this be taken care of as fast? I am sitting with {$2.00} in my checking account and really need this money! This amounts to theft in my eyes and fraud! That they can go into someones checking account and take money out without consent and then give the consumer the runaround to get their money back is just not right! I do n't care how nice they are on the phone! I want my money and I want it back now!
Company Response: Closed with explanation

Disputed: No Timely Response

2016-05-20

Oregon City, OR

Loan modification,collection,foreclosure

Mortgage: VA mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-05-19

Lacey, WA

Application, originator, mortgage broker

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-05-19

Evesboro, NJ

Application, originator, mortgage broker

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-05-18

Baltimore, MD

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-05-18

Great Bend, PA

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-05-17

San Gabriel, CA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: I applied for a loan with Quicken loans about a month ago. I let them know at that time that I had given up a property recently because I could n't afford to keep it any more. So they knew it went through foreclosure which would negate the type of loan that I wanted. So I was told that I had to pay XXXX for an appraisal before the deal went any further. A few days after that I was turned down because of the foreclosure which they knew about before I went ahead with the appraisal and now they are refusing to return my money or to send me a copy of the appraisal.
Company Response: Closed with monetary relief

Disputed: No Timely Response

2016-05-16

Charlottesville, VA

Settlement process and costs

Mortgage: FHA mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-05-16

East Fishkill, NY

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-05-16

Allen, KY

Application, originator, mortgage broker

Mortgage: VA mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-05-16

HI

Application, originator, mortgage broker

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: In XXXX XXXX I applied for a mortgage refinance 5 year ARM from QuickenXXXX. The process of getting their loan meant that I had to deal with numerous inconvenient calls at all hours of the day from XXXX plus company team members, causing hassles, confusion and doubt. Most times I received a recording when returning a call, even when calling back within 5 minutes. After an arduous 3 1/2 month process, it was ending. I signed the loan documents and they were notarized on XXXX XXXX, XXXX a.m. I found the company 's Right To Cancel ( rescission ) forms gave me the option to rescind within the three days after I signed. Considering what I went through, I decided to rescind that same afternoon and immediately FAXED the company 's forms using the FAX number provided attention to the " Director of Accounting '', as indicated. The FAX did not go through and gave a " line busy '' error message, " make sure the recipient 's FAX machine is ready to receive FAXes ''. I called the company and got their recordings. I searched for the phone numbers in the loan documents and online, as no phone # provided on rescission form. When I finally connected with a Quicken staff, he did not know the number for the Director of Accounting. Concerned, on XXXX/XXXX/XXXX one day after I signed, I mailed the Right to Cancel forms USPS certified, return receipt. The next morning XXXX/XXXX/XXXX, day two after I signed, I emailed the company their FAX number was not working and requested assistance to rescind. I added I mailed the forms postmarked XXXX/XXXX/XXXX and provided the USPS tracking number, but I still wanted to fax to expedite. I asked the company to email a working fax number. On XXXX/XXXX/XXXX Instead of giving me the fax #, the company emailed they would refer me to another team member. Then I received a phone voicemail with their office and cell # 's to call back, no FAX number provided, and no one picked up when I called back a little later. I left yet another phone message and email requesting assistance to rescind. By XXXX/XXXX/XXXX XXXX I received a phone voice message with a fax, but it was the same bad FAX # and too late deadline passed. Then I received an overnight mailing/letter dated XXXX/XXXX/XXXX from the company saying that THEY were canceling the loan, adding insult to injury. I emailed them, received an apology by the name on the letter stating letter sent in error w/ acknowledgment I am the one rescinding the loan. Finally I noticed my personal XXXX account webpage posted a new mortgage debt posted the amount of the rescinded QuickenXXXX refi loan. I immediately emailed the company informing them of their error and asked them to please remove it. After an exchange of emails, the company said that the new Quicken debt had been posted because they had not received a copy of the rescission request within the 3-day window. This was incorrect. The instruction on the forms stated I could fax or mail w/postmark before the deadline which I did and notified them. Furthermore, Quicken did not assist me in submitting my rescission in a timely manner. Their actions added greatly to my distress and the ongoing stressful state dealing with them. After explaining and explaining the company finally acknowledged their error, but added that they did n't know how long it would take to remove the new debt from my personal XXXX account page. My hope is with this communication, fair practices and protection for all consumers.
Company Response: Closed with monetary relief

Disputed: No Timely Response

2016-05-14

Brown Mountain Beach, NC

Credit decision / Underwriting

Mortgage: VA mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-05-12

Oaklevel, VA

Credit decision / Underwriting

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-05-12

FL

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: Around XXXX/XXXX/XXXX I received an unsolicited call from XXXX XXXX, ( of Quicken Loans ) wanting to discuss refinancing my loan. He asked for permission to run my credit report I DID NOT GIVE HIM PERMISSION. I later found out that he ran it anyway. I filed a complaint with the company and wound up speaking to XXXX XXXX. He admitted that I did not give him permission, his defense was I did not tell to not do it. IT IS ALSO IMPORTANT TO KNOW THAT QUICKEN LOANS REFUSES TO GIVE ME A COPY OF THIS RECORDED CONVERSATION. I think it is obvious that the only reason they would n't provide a copy is that it would prove they lied. In an attempt to make this go away, I offered to not file a complaint if Quicken would refinance my loan with no cost to me. ( I had paid Quicken over {$5000.00} in closing cost on this loan in XXXX XXXX. On XXXX/XXXX/XXXX Quicken made an offer to refinance for {$7300.00} in closing costs which completely ignores my request. I started working with XXXX ( XXXX ) XXXX. She has demonstrated she has no desire to right this wrong. She told me to work with XXXX XXXX. He called and left a voice mail message, promising to call me the next day. HE DID NOT CALL AS PROMISED. When I complained to XXXX XXXX about the broken promise she had XXXX XXXX finally call me. After offering to PAY DOWN THE LOAN BEFORE REFINANCING ( remember they have the loan ) his offer was one with {$11000.00} OF CLOSING COST. I CAN BE REACHED AT XXXX. This is a serious complaint and I hope you will help me.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-05-11

Hanover, OH

Application, originator, mortgage broker

Mortgage: FHA mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-05-10

Lees Summit, MO

Application, originator, mortgage broker

Mortgage: FHA mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-05-06

Indianapolis, IN

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-05-04

Soquel, CA

Application, originator, mortgage broker

Mortgage: Home equity loan or line of credit

Complaint: My Loan : XXXX at Quicken Loans I originally got started processing my Quicken Loan application with XXXX XXXX ( Mortgage Banker ) and uploaded my Verification of Assets on XXXX/XXXX/2016. However, somehow I lost communication with XXXX, and later on, got in touch with XXXX XXXX ( Mortgage Banker ) on XXXX/XXXX/2016. Next, XXXX XXXX passed me XXXX XXXX ( Client Care Specialist ) on XXXX/XXXX/2016 in entering the Underwriting stage of the loan process. Keep in mind Quicken Loan 's Verification of Assets says this : To close your loan, we need to verify that you have {$9500.00} in assets for reserves. This amount is subject to change as your loan is processed. Please provide bank, depository or brokerage statements, 401 ( k ), 403 ( b ), a Keogh account or an IRA statement showing a 60 days history for this verification. Given that I provided my XXXX XXXX bank statements on XXXX/XXXX/2016 and the Underwriting process started on XXXX/XXXX/2016, I felt Quicken Loan 's Underwriter made a bad decision to have me pay around {$500.00} for the appraisal performed on XXXX/XXXX/2016 when there was a chance the Verification of Assets could be a show stopper. As it turned out, it was a show stopper. According to Quicken Loan, my letter of explanation for assets was decline. So basically, I did a cash deposit of {$2100.00} on XXXX/XXXX/2016, {$3000.00} on XXXX/XXXX/2016, and {$5000.00} on XXXX/XXXX/2016 from my home safety deposit box and this reason was rejected. Good business practice of the underwriter should have been take care of all the necessary show stopper paperwork first before having a possible lender pay for the appraisal. Given I contacted Quicken Loan based on your recommendation, can you please help me get a refund from my appraisal? Thanks, XXXX XXXX
Company Response: Closed with non-monetary relief

Disputed: No Timely Response

2016-05-04

Gastonia, NC

Loan servicing, payments, escrow account

Mortgage: FHA mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-05-02

Hicksville, NY

Credit decision / Underwriting

Mortgage: Conventional fixed mortgage

Complaint: Applied for a refinance. I was told the interest would be 3.09 %. Loan amount {$150000.00} 15 year on a home worth {$500000.00}. Also have XXXX in excess of {$250000.00}, {$20000.00} in savings account and {$6000.00} in checking account, credit score if XXXX. Loan criteria became more and more difficult. Finally they offered me a 30 year {$130000.00} loan at 4.00 % interest. They have frozen my accounts and it is impossible to get ahold of XXXX the closing company. Quicken loan officer : XXXX XXXX ( XXXX ) XXXX ext. XXXX XXXXXXXXXXXX. XXXX # : XXXX XXXX # : XXXX Respectfully XXXX XXXX XXXX XXXX XXXXXXXXXXXX
Company Response: Closed with explanation

Disputed: No Timely Response

2016-04-30

Seattle, WA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: This may or may not be the right place for this complaint, but let 's give it a go. I placed my home up for sale. A buyer financing through Quicken Loans was interested, we agreed at a price and the process was on. Inspection went fine, XXXX appraisals were required due to selling price. The first appraisal came in at selling price. The second appraisal was " cancelled '' after it was made ( we believe that it matched the previous assessment ) and a XXXX appraisal was requested by Quicken Loans, less than 2 weeks to closing date. The XXXX appraisal came less then the selling price, and that 's just what Quicken Loans wanted. To me, it seems like Quicken Loans is forcing the seller 's price down as to minimize their " risk ''. The buyer is a physician, with real estate assets out of state, and a solid financial background. Both seller and buyer were packed, had made financial commitments, and then this. The net was a loss of {$50000.00} to the seller from the agreed price, and additional funds added to the down payment by the seller. Quicken Loans tactics are unethical, in my humble opinion. As a result of this transaction, I personally warned every person I know, whether a seller or a real estate sales person, to decline any offer that will be financed by Quicken Loans. Needless to say, the real estate agents involved, are doing the same. Maybe the the Feds can look into Quicken Loans 's practices.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-04-29

Venice, FL

Credit decision / Underwriting

Mortgage: FHA mortgage

Company Response: Closed with explanation

Disputed: No Timely Response