QUICKEN LOANS, INC.

2016-04-05

Stonington, ME

Application, originator, mortgage broker

Mortgage: FHA mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-04-01

Garrett Park, MD

Application, originator, mortgage broker

Mortgage: Other mortgage

Complaint: I am moving to XXXX in two weeks, so I need to fix up my townhouse to either sell or rent it out by XX/XX/XXXX. I have XXXX mortgages, XXXX and XXXX. So, I decided to combine the XXXX and refinance. So, I went to Quicken loans online to get pre-approved and then contacted a finacial person. He looked up my score and said he ca n't give me the loan because I dont have a score of XXXX according to the FICO XXXX they are using. They were seeing XXXX, XXXX and XXXX. But my FICO XXXX and XXXX Score for mortgages according to XXXX ( I subscribe to ) is FICO XXXX : XXXX, XXXX, XXXX - XXXX XXXX : XXXX, XXXX and XXXX not matching what they see. Something is wrong, I have the right to see excactly what the lenders are seeing. I need the extra money to fix up my place and this combined 15 year mortgage 2.75 % would put about a {$1000.00} in my pocket, thus freeing money to pay down on my debts in large amounts and quickly. Right now my first mortgage is {$1000.00} without taxes and insurance which I pay on my own and the second is XXXX a month, so that is {$2200.00} a mnth. Note : one is bank and the other is a credit union. I always paid my mortgage on time, no late payments. In fact the XXXX mortgage is taken right out of my paycheck biweekly.
Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-04-01

Scottsdale, AZ

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: Quicken Loans DISCRIMINATION against XXXX XXXX Veterans continues ... XXXX XXXX Bank Mortgage was transferred to Quicken Loans in XXXX ; Since then, Quicken has failed to comply with Regulatory Laws. I Filed several complaints with Quicken who failed to resolve or ignored problems. 1. XXXX, received Check ( XXXX ) for {$120.00} after XXXX merger that 's worthless. 2. Denied Refinance 30 yr ARM to 15 yr Fixed Mortgage since XX/XX/XXXX-present. Quicken Mortgage Manager informed me to refinance with other Mortgage companies after Quicken DENIED the Refinance of loan because it was n't within the best INTEREST ( % ) of Quicken. 3. Denied access to 'My Quicken ' account online website for Tax statements, Paperless documents, or resolving the on-going problem since XXXX and current problem since XXXX. Quicken DENIES access to MY QUICKEN Account to STOP ME from submitting messages ; to clarify, If I ca n't access the account then I ca n't complain about the Bad Service or DISCRIMINATION. 4. Quicken last email message was on XXXX XXXX XXXX ; response to refinancing that Quicken DENIED without explanation ... DISCRIMINATION. 5. called Customer Service who CA N'T find my file and REFUSES to resolve problem. #. Quicken ADMITS to DISCRIMINATION against XXXX VETERAN ... Denies Discrimination, then continues items XXXX. Quicken Corporate REFUSES to resolve the issues, instead they mail a useless response document ( XXXX ) filled with legal jargon that fails to resolve the problems. XXXX XXXX Veteran with an XXXX XXXX Surname ( XXXX )
Company Response: Closed with non-monetary relief

Disputed: No Timely Response

2016-03-31

OH

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: Got a mortgage through Quicken Loans - final paperwork was handled through XXXX in XXXX, MI. Mortgage closed on XXXX XXXX, 2016. Mortgage consolidated XXXX loans : XXXX, XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX XXXX installment loan and XXXX XXXX car loan. I assumed that when these things were being consolidated into XXXX new loan that the other debts would be paid off - that is how we did things when I worked at a bank in the XXXX. I was disappointed when the credit card was not fully paid and I still had a fairly large interest payment to make on it. But when I found out today ( because I see the balance on my XXXX account ) that the XXXX XXXX XXXX XXXX Installment loan was not paid in full - which explains why I continue seeing them on the Declaration Page of my auto insurance I 'm annoyed. When I talk to XXXX XXXX XXXX XXXX they tell me that I not only still owe {$330.00} on the loan with them but now accrued interest - I do n't think I should be liable. I find XXXX XXXX XXXX XXXX remiss/unethical/slimy because they could have informed me when the loan was attempted to be paid off that it did n't quite do the trick and allow me to pay it off before interest accrued. They have had no contact with me about this underpayment at all! But what really bothers me is that Quicken Loans made an underpayment in the first place. I remember getting loan payoffs and the payoff was good through a certain date and each day after you would add a little on - so we always had accurate payoffs. When I mentioned this to Quicken Loans and XXXX XXXX - both told me they do n't do that except for a mortgage payoff. They just ballpark the number based on what is on the credit report they ran. They told me that we were likely told this was the case. I can only say if someone told me they were ballparking the number - I would have called and gotten payoffs myself - rather than having continued to accrue interest on accounts I thought were paid out. I 'm not sure if this is an illegal practice - or just a shady practice that shows these places do n't care at all about their customers. So I 'm sending my complaint to you so I can find out. Honestly - are all banks shady???? Both XXXX XXXX XXXX XXXX and Quicken Loans have shown me they are!
Company Response: Closed with explanation

Disputed: No Timely Response

2016-03-29

Arco, CA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: After initial contact, I asked the originator if they had financial products that fit my situation. Specifically, I was looking for a low down payment jumbo ( over $ XXXX ) loans ( non-FHA ). His response was that they have loans with the down-payment as low as XXXX % that are non FHA loans. However, after a hard credit pull it turned out they do n't anything like that. They only offer conforming ( under $ XXXX ) loans with % XXXX down-payment or Jumbo with XXXX % down-payment. After all the lies, my XXXX credit score took a hit for nothing.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-03-28

Sherman Oaks, CA

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-03-26

TX

Credit decision / Underwriting

Mortgage: VA mortgage

Complaint: Quicken Loans used misleading tactics to attempt to have me sign an intent to proceed. Without prompting and months from expected closing date from a new construction home, I was contacted and told a few details about a loan estimate. However, most of the focus of the conversation was focused on signing documents within the next couple of hours and sending documentation to continue moving forward with the process. I did not know what that really meant, but when sent the information, I looked up what an Intent to Proceed meant. I clearly was not ready for this as I had not even received other lender 's loan estimates nor was I ready to start paying fees so far from being able to lock in a rate or close on the house. I told him as much, and the response I received was : " I 'm not too sure I know what you mean at not wanting to proceed. Even though the home is n't constructed yet, the most prudent thing to do would be to make sure the loan is approved through the underwriters and to lock in the credit I was able to get for you. What is your concern? '' This is clearly deceptive and unethical. No further response was received after I made it clear that " to lock in the credit '' was clearly not able to be done, that I did not want to pay fees so far out, and that other lenders wanted to give a more fair loan estimate at a date closer to locking in rates.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-03-25

Goose Creek, SC

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-03-24

Green Bay, WI

Credit decision / Underwriting

Mortgage: Other mortgage

Complaint: I responded to a Quicken Loans solicitation to Refi my home. After going through an XXXX process online, the system then pulls my credit. That 's fine, I expected them to. However, it instantly came back with 'It does n't look like there is anything we can do for you '. It then says I can call our XXXX number, or chat with an online rep. I 'm not pleased because I do n't want unnecessary credit checks on my credit if there is absolutely no way to qualify. I decide to engage in a chat. Well, after talking with their representative who has the title of " President 's Club Banker '' due to his level of experience, he reviews my file. It takes only seconds for him to say, 'sorry there is n't anything we can do because you need at least XXXX % equity to qualify w/o PMI and at least XXXX % to qualify for FHA XXXX which is all he offered me '. I feel that this is so incredibly deceitful because if I had known what their threshold was for assisting me in refinancing, then I would have known that there was no way for me to qualify at this time, and therefore would not have submitted to a credit check. Instead, they bait the consumer with this possibility that I could qualify and thus proceed to allow them to damage my credit with a quite unnecessary hard pull inquiry. As a consumer, I certainly would want to try and lower my monthly payment and felt it very possible to qualify since my current loan is $ XXXX and my home appraised for $ XXXX only 3 months ago. However, based on how quickly the system rejected to extend an offer of credit, and how quickly their agent rejected to extend an offer of credit, it was quite clear that they operate within strict ( and pre-established ) guidelines that even consumers who are in a positive equity position ( like myself ) will get denied ( and frankly did n't even come close to qualifying - he said I needed at least {$35000.00} cash down at time of refinancing! Seriously? ). So, I sit here frustrated and upset that I felt baited into this hopefulness that I could lower my monthly payment and save some money to help with my other monthly obligations for my family to be in a more favorable position in our financial situation. This felt misleading and deceitful. I am trying to strengthen my credit score and this did the exact opposite. It would have been easy enough for Quicken Loans to generalize what their predetermined qualifying criteria was on perhaps their first application page ( or in the solicitation itself - clearly marked ) which would help consumers make wiser decisions upon whom to attempt to apply for an offer of credit vs. attempting to apply for an offer of credit where there is absolutely no way at all that I would be offered credit. I am very displeased at having my credit harmed when a ) there was no way I would qualify and b ) my credit was never even a deciding factor in the decision - since it was entirely based on loan-to-value criteria that was never spelled out ( or even generalized ) for the sake of educating consumers. I 'm tired of being tricked, lured and baited by these companies that do n't care if they hurt consumers.
Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-03-24

Settlement process and costs

Mortgage: FHA mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-03-23

Cheverly, MD

Application, originator, mortgage broker

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-03-23

Oxford, GA

Application, originator, mortgage broker

Mortgage: FHA mortgage

Complaint: I built my house in 1992 and refinanced a 6.78 to a 4.3 with Quicken Loans I did not take any money out just wanted to get a better interest rate. I explained that I had 10 years on my current note and did not want to do another new loan and I had a conventional. When I received my paperwork after the closing they had transferred my conventional into an FHA and I was charged with PMI ..I never had to pay PMI on my first loan and they did not appraise my home for the proper size and rooms. I was told they DO NOT consider basements as part of the home but my basement is open and has a full bath, bedroom TV room and weight room. Quicken Loans told me I would have to wait until the 5 years of PMI was paid before I could do anything and now it is complete but I am still locked into a new 30 year loan which means I will be paying on my home for 60 years. This is atrocious in so many ways and I was told by the my loan director director that I could appeal after the 1st year but he quit and I could not get anyone to talk to me about what they had done I should have been notified before closing that my loan was being taken from the conventional to the FHA they just transferred without my knowledge. I was told also that I would be refunded on my credit card the {$500.00} that I had to put down but that never happened either. I am filing this complaint because I was deceived and now I am stuck in another 30 year loan on a home I built in 1992. My house is XXXX square feet and they only appraised XXXX square ft. and that is why they charged me with the PMI I have never been late on my house note and they had no right to transfer my loan and charge me with 5 years of PMI on a house that was 20 years old. Quicken Loans should be liable for what they have done on my loan and I am asking for your help in having my note re-written as I would have had only 5 more years to pay on my home. Regards XXXX
Company Response: Closed with explanation

Disputed: No Timely Response

2016-03-22

Milwaukee, WI

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: I clicked on a website for 'get current mortgage rates ' and filled out my name, address. Immediately someone from Quicken Loans called me. I specifically told him all I wanted was current rates and he said he just wanted to know about my current situation so he could see if he could help. He then apparently submitted a mortgage application in using my name because I received a denial letter. I did not apply for any mortgage from this company and this has to be illegal on their part.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-03-18

Fitchburg, WI

Credit decision / Underwriting

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-03-18

Napa, CA

Application, originator, mortgage broker

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-03-17

Newnan, GA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-03-17

MI

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: A person calling from XXXX telling from quicken loans called me, I suggested not to go for refinancing now, called my wife and told your husband is ok with the loan from us and your husband has told to take the Social Security Number from you. So we are calling you and provide us ure husband social security number.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-03-16

Jupiter, FL

Application, originator, mortgage broker

Mortgage: FHA mortgage

Complaint: I contacted Quicken Loans on Friday XXXX/XXXX/16 and spoke with XXXX to discuss refinancing my FHA mortgage. I informed XXXX of my estimated credit score, how much the original loan was for, and how much the remaining balance was, as I wanted his honest opinion on whether or not he could help BEFORE he pulled my credit. I told him that other lenders have told me that attempting to refinance after only 6 months would not be possible. XXXX immediately informed me that Quicken loans had very aggressive products and could do things a traditional lender could n't do. He stated that he felt sure he could save me hundreds of dollars on my monthly payment and that my current lender would most likely not want to refinance my loan as they were earning money from the interest. I asked XXXX if he felt that Quicken loans could save me a substantial amount of money every month to which he replied " absolutely. '' Feeling encouraged, I gave him my social security number and authorized a credit pull. He told me he would " run the numbers '' and get back to me. I spoke with XXXX again on Monday XXXX/XXXX/16 but his tone was considerably different. He informed me that my debt to income ratio was too high and that it would be difficult to do anything for me. He ultimately stated he could refinance my loan saving me a whopping {$40.00} per month but I would have to front almost {$3000.00} in closing costs ( at that rate, it would take my 6 years just to break even again from the out of pocket costs ). I asked him " is this the type of aggressive products Quicken Loans offers? This is XXXX! '' I contacted a supervisor on XXXX/XXXX/16 to discuss and spoke with XXXX XXXX. I told her about the situation and asked her to remove the credit pull from my history as I felt XXXX performed a traditional bait and switch and falsely advertised what Quicken Loans could do for me. She stated she would look in to it. XXXX then called me back on XXXX/XXXX/16 and informed me that there was nothing she could do.
Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-03-14

Centennial, CO

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-03-12

Rome, NY

Application, originator, mortgage broker

Mortgage: VA mortgage

Complaint: XXXX XXXX and Quicken Loans is not excepting my Cert. Of Eligibility I received from military service. I was issued one XX/XX/XXXX and had it renewed XX/XX/XXXX. They say that the COE is not any good.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-03-12

Houston, TX

Application, originator, mortgage broker

Mortgage: FHA mortgage

Complaint: I was inquiring about a home refinance loan and Quicken Loans. Told him that I did not want my credit pulled unless he could get me an approval. Gave him full info up front- that I was only on the job for 4 months- told him several times my score was verging on XXXX and did not want it pulled. He said he would work with me for an approval and pulled my credit. At the end of the convo he told me that he could not get me approved because all of Quicken Loans require a 2 year job history. I have the FULL chat transcript available. I believe this was complete unethical behavior and lowered my credit score to a XXXX thus far, may still be dropping.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-03-12

OK

Credit decision / Underwriting

Mortgage: FHA mortgage

Complaint: Aggressive Loan Officer ( XXXX XXXX ) at Quicken Loans that performed a Mortgage Review of my current homeowner 's loan that currently has a fixed rate of 4 % - FHA-30-year loan with Quicken Loans and when I informed the Loan Officer on XXXX/XXXX/16 that I was not interested in refinancing my home because it would not save me any money and that I would have to pay closing costs as well. The Loan Officer continued to contact me 3 additional times by e-mail on XXXX/XXXX/16 and mail communication on XXXX/XXXX/16 and now today, XXXX/XXXX/16. The Loan Officer as uploaded new refinance information on my on-line account without my knowledge, permission or consent. I feel like I am being harassed by Quicken Loans by their aggressive and predatory style of doing business.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-03-10

Blountsville, IN

Application, originator, mortgage broker

Mortgage: VA mortgage

Complaint: In XXXX of XXXX, I contacted Quicken Loans to inquire about a home loan to purchase a home for my family to live in Indiana. I was working with an individual names XXXX XXXX from Quicken Loans. During the process, I honestly disclosed to them that I had filed bankruptcy in XXXX of XXXX, and the Bankruptcy was discharged in XXXX of XXXX. XXXX XXXX stated that that should not matter, and that I was approved for a home loan. Weeks later, after I had my hopes up about being able to buy a house, XXXX contacted me, and stated that he now could not be able to approve me for a loan, because the bank that owned the loan on the house had not yet completed the foreclosure as indicated in the bankruptcy. XXXX stated that he would be able to approve me in a year, and to re-contact Quicken Loans in XXXX to re-start the loan process. I re-contacted Quicken Loans on XXXX/XXXX/XXXX, and have been speaking with XXXX XXXX from Quicken Loans. I explained to them what I was told by XXXX XXXX XXXX. Quicken loans is now stating that they will not be able to approve me for a loan, despite me being told by XXXX of their associated that they would be able to approve me. XXXX XXXX XXXX XXXX works for Quicken Loans, and when he tells a consumer something, he is speaking on behalf of Quicken Loans. It is illegal for a company to tell consumers something that they can not or or not willing to follow through with. I would like for someone to look into this, and hold Quicken Loans responsible to follow through with what their associated stated.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-03-09

Beyersville, TX

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: Following our application with Quicken Loans XXXX XXXX, XXXX # XXXX with Quicken Loans on XXXX/XXXX/2016 originally told us and sent over disclosures confirming our rate was locked in at 3.875 % with XXXX points. On XXXX/XXXX/2016 Quicken Loans provided us a " Re-disclosure '' package in this package our rate is now showing 3.875 % with XXXX points. XXXX Loans/XXXX XXXX need to honor our previously agreed upon rate lock.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-03-05

Durant, OK

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response