QUICKEN LOANS, INC.

2016-03-04

Tarzana, CA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: Hi! I called Quicken Loans to get some rates for a home mortgage refinance. They quoted me some rates for the 20 year loan that I was looking for. I have been very clear that I was shopping around for rates. The rates they gave me were worse than what I was getting from another lender. Then I decide to proceed with another lender who run my credit report and I see in that report that Quicken Loans has run my credit without my authorization or giving them any documents. This has adversely impacted my credit score and increased the cost of my refinance mortgage by {$3000.00}. Two days later I get documents in mail from Quicken Loans asking me to sign on the documents to proceed. This is when I have not agreed to proceed with them on the loan even. Pls help. Thanks XXXX XXXX
Company Response: Closed with explanation

Disputed: No Timely Response

2016-03-03

CA

Settlement process and costs

Mortgage: Conventional fixed mortgage

Complaint: Rocket Mortgage / Quicken Loans gave me a Loan Estimate on XXXX XXXX which caused me to select them over other lenders and initiate my loan with them. On XXXX XXXX, 10 days into a 30 day close, so too late to start with a new lender, they dramatically raised the rate and origination charges.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-03-02

CA

Application, originator, mortgage broker

Mortgage: VA mortgage

Complaint: XXXX XXXX, XXXX Last year around XXXX worked with Quicken Loan to Refinance the property at XXXX XXXX XXXX XXXX XXXX They order an appraisal which was done on XXXX XXXX, XXXX. The appraisal done had many problems such as wrong sq ft by less than XXXX, room XXXX XXXX XXXX, we have solar and no mention at all as energy efficient item. The Indicated Value by Sales Comparison approach was {$320000.00}. The report has a home listed that was sold on XXXX and XXXX homes closer to our sq ft & lt ; XXXX XXXX XXXX XXXX CA. Sold for {$430000.00} on XXXX - XXXX, XXXX sq ft and XXXX XXXX XXXX XXXX XXXX sold for {$75000.00} at the end of XXXX - XXXX sq ft & gt ; were not used as comparison. The rule is not to use homes so old that values are not comparable and locate XXXX for value approach that are closer to sq ft that the XXXX being appraised which he did not do! The Porch/Patio/Deck says large deck. The appraiser stated our decks sq ft was XXXX. The XXXX decks, around our house, measure XXXX sq ft. So value approach not added correctly! Solar owned by us is given no value which is a XXXX, XXXX panels at a cost of $ XXXX! The house building sketch was not correctly drawn, very poor and incomplete! The indicated value by cost approach arrived by the appraiser was {$420000.00}! The opinion of site value of {$20000.00} is of raw lans where our property has the infrastructure, water, sewer, electric phone, cable, foundation, walkways etc.! A {$60000.00} is the number both a builder and the California XXXX appraiser feel is better for a property with infrastructure! Again the report stated the Sq ft was XXXX which is wrong and is XXXX! Depreciation used of {$120000.00} assume no improvements to house since built! The interior of the house floor XXXX has been totally remodeled, and floor XXXX has new rugs and bathrooms improvements which the report does not mention. The report mention a large decks but we have XXXX decks which totals XXXX sq ft. and the drawing lacks too many sq fts.! The appraisal has no costs associated with the Solar, which is owned by us at a cost of {$2100.00}! The value arrived makes the house cost approach impossible to rebuild! Our Insurance agent provides a value at the low end of {$170.00} and up! All this information was provided to the Quicken Loan folks and there reply was that the Appraisal was done correctly per the Appraiser! Quicken Loans provided no support and/or investigation to determine the correct information!
Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-03-01

CA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: I am in an active loan modification review with my lender Quicken Loans and have a trustee sale scheduled for tomorrow, XXXX XXXX, 2016 at XXXX. I spoke with Quicken Loans and was informed that they will not be postponing my sale. I believe this is a form of dual tracking and completely illegal and are unsure why they are choosing not to assist me in this matter. I am now forced to hire counsel and help protect myself.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-03-01

MI

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: I was charged XXXX dollars for a chance to refinance my mortgage by quicken loans. They accessed my credit twice which had an adverse on my credit account .I was denied my mortgage and a refund. They told me that if I paid them XXXX XXXX dollars they would give it to me. They laughed at me when I said I did n't have the XXXX XXXX dollars. I would like a refund. please accept this as a formal complaint by me. I am mentally XXXX and live on a fixed income. I may be able to provide supporting documents if I am able. Quicken loans is in XXXX michigan
Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-02-26

Rathdrum, ID

Settlement process and costs

Mortgage: VA mortgage

Complaint: I refinanced my home with Quicken loans, VA financing. I had cash back to pay off credit card debt. XXXX check in the amount of {$4.00}, XXXX was made out to XXXX XXXX. I took the check to the XXXX XXXX, ID store and paid the bill at the customer service counter. We received a letter in the mail today informing us that Quicken loans recalled the check for unknown reasons. I am paying for this loan ; I work XXXX hours per week and my wife is on Social Security. I can not afford to ignore {$4500.00}! My mortgage is {$680.00} per month and I am considering not making a mortgage payment until my money is returned with along with a written apology letter! By the way, I have a {$25.00} service charge to pay XXXX due to Quicken XXXX up once again! Not to mention he fact that it took us 7 months to complete a VA refi with Quicken ( actually they should be called Slowen loans ) and we just closed on the loan less than 30 days ago! Then their check bounces? Give me a low grade break already! I have had nothing but problems from Quicken loans, I 'm a Veteran and I 'm not going to take it anymore. I plan to file a complaint with anyone who will listen.
Company Response: Closed with monetary relief

Disputed: No Timely Response

2016-02-26

Charlotte, NC

Credit decision / Underwriting

Mortgage: Conventional fixed mortgage

Complaint: On XXXX XXXX, XXXX I received the following emai : Hi XXXX, I have some very important news in regards to your mortgage. I 'd like to get you into a lower rate at no cost. Plus, I would like to get this done today before rates start going back up. We just had a big rate drop today and we can get your new rate locked in right away. Please call me as soon as you get this because it is time sensitive and it is very beneficial to you, very simple, and no, this is not a sales call. I just need a few minutes with you on the phone to get this set up. Thank you and please call my direct line XXXX XXXX XXXX Mortgage Banker Quicken Loans I gladly responded to the email because my current mortgage is with Quicken Loans and I would like my payments to go down. After reaching XXXX XXXX, he said all they needed to do was pull my credit report to approve the refinance and get the lower rate. I agreed because they said they would be able to get me a lower rate and since I had just refinanced with them in XXXX I assumed I could trust him. He sent me a good faith estimate, but I noticed the address was incorrect. I called Quicken and talked to XXXX XXXX and she said she would update the address and send a correct good faith estimate. On XXXX XXXX, XXXX she sent me the following email : XXXX, I have no idea how or where XXXX had gotten that address into the system. My apologies for not double checking that as I had assumed that the address would be correct. After putting in the correct address, I 'm getting a huge pricing adjustment on this loan since it is now triggering a certain pricing through my capital markets team based on the last time that we did this mortgage. The costs do not make any sense to do anything. I am really sorry that your time was wasted looking into this as I was under the impression that the correct address was inputted for this file. I should have double checked that to make sure that I apologize for the inconvenience. I will make sure to get with XXXX and his leader so that this does n't happen again. The difference in costs is extremely large. So I would say that nothing makes sense at this point. Again, I am really sorry for the inconvenience. Let me know if you have any questions regarding this. Quicken Loans XXXX XXXX | XXXX I then sent her the following email : What about the ding on my credit score? I would like Quicken to take back the inquiry on all three credit scores since XXXX was not offering a refinance that he could deliver on which is misrepresentation. Please let me know when Quicken can make this adjustment. Regards, XXXX She then responded with the following email : Hi XXXX, I have talked to my director and there is not really a way that we can take back the credit pull unfortunately. I do apologize for not having a better answer for you. I will tell you that when a lender pulls a credit report, it can only affect the score no more than XXXX points with regards to the scores. In any case, I will send this over to my client relations team to see if there is any way that they can help out more. Again, so sorry for the confusion and the inconvenience. Thanks Another representative reached out to me named XXXX XXXX and said he would look into the matter. After a few days he said they could not remove the credit inquiry because they had permissible purpose to pull the credit. I told them I gave them permission under false promises from their employee and now I have been financially harmed for their misrepresentation. I told them all I wanted was for them to withdraw the credit inquiries from all the credit bureaus but they have refused. Please help me to restore my credit that I have been working hard to improve by requiring Quicken Loans to remove the inquries.
Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-02-25

Indianapolis, IN

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-02-25

Houston, TX

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-25

San Diego, CA

Loan modification,collection,foreclosure

Mortgage: FHA mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-24

Key Biscayne, FL

Settlement process and costs

Mortgage: Conventional fixed mortgage

Complaint: Quicken loans offered me a low cost loan product to secure a deposit and lock in my business, only to later to tell me I did not qualify even though nothing of my financial, credit, or employment situation had changed. Starting in XXXX/XXXX/XXXX, I began sending Quicken Loans my documents in order to get a loan estimate after the initial pre-approval. I filled out all the required forms and answered all their questions truthfully. Out of all the prospective lenders I had spoke to, they where the only ones who could secure me a conventional loan as a XXXX ( XXXX ) in the middle of a transition to XXXX. Every other lender said they could offer me a FHA loan with simply proof of employment, but their underwriting guidelines required me to show proof of income in the form of XXXX based pay stubs in the last 30 days to qualify for a conventional loan. Quicken loans however, told me they did not have this paystub requirement to qualify for the conventional loan. Naturally, I asked the Quicken loans Senior Mortgage Banker XXXX XXXX ( XXXX # XXXX ) to double check with his underwriters to ensure this my employment situation would not be an issue. He assured me that they would not need pay paystubs, and offered me a loan product with only {$250.00} in origination fees, and over {$2000.00} in lender credits. On XXXX/XXXX/2016, I signed an " intent to proceed '' to move forward with them and paid a {$500.00} deposit formally initiate the process. As the underwriting process had started, and I sent them all my documentation. All appeared to be in order, they said there were no issues with my documents and only a few documents were remaining- an employment offer letter, and proof of payment to the IRS XXXX The problems began as soon after the appraisal was ready on XXXX/XXXX/2016. It was very strong- the purchase price for the home is {$200000.00} and the appraisal came back at {$280000.00}. Two days later, on XXXX/XXXX/2016, I get a call from Quicken Solution consultant XXXX XXXX ( XXXX # XXXX ), who said they could not finance me because of my " temporary employment situation. '' Nothing had changed, and there was no new discovery made. They simply talked to my employer and she told them exactly what I had said all a long- that I was in transition from a XXXX paid consultant to a XXXX paid staffer. I told him I could have my employer right a letter stating my employers desire to keep me as an indefinite/permanent employee which XXXX replied he would check with his underwriters and get back to me. On XXXX/XXXX/2016, XXXX informs me they are not going to be able to finance me without the 30 days of XXXX paystubs- the same requirement every other lender was very upfront about in the beginning of the process. Now we are two weeks into the process and with nearly two weeks to close, XXXX XXXX counters with an other loan product, an FHA that has substantially higher origination costs and significant less lender credits, costing me rough {$3000.00} more out of pocket to close. When I ask why they are higher, I get no answer. Quicken used dishonest bait and switch tactics to acquire my business, have me pay the deposit and once we 're far along in the process change the loan product to something more expensive without giving me any clear reason as to why.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-23

Eight Mile, AL

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-23

Plano, TX

Credit decision / Underwriting

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-22

Waipahu, HI

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Company Response: Closed with monetary relief

Disputed: No Timely Response

2016-02-22

Montevallo, AL

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-19

Fred, VA

Application, originator, mortgage broker

Mortgage: Other mortgage

Complaint: XXXX/XXXX/XXXX XXXX XXXX XXXX XXXX XXXX # XXXX XXXX VA XXXX Quickenloans/Quickenloan XXXX XXXX, XXXX on my XXXX REPORT This letter is your formal notice to cease your unauthorized hard inquiries into my credit report and, a formal demand that you immediately contact the credit reporting agencies and credit bureaus XXXX, where your organization has made inquiries into my credit history, to have your illegal inquiries removed. Be advised that I will be checking my reports to ensure you have had the following unauthorized inquiries removed : Quickenloans/Quickenloan XXXX XXXX, XXXX To my knowledge, I have not signed any documents authorizing your organization to view my credit history therefore, your inquiry into my credit report violates the Fair Credit Reporting Act, Section 1681b ( c ) : Transactions Not Initiated by Consumer. If you are in possession of any document that you believe authorizes you or your organization to make inquires into my credit report, I respectfully request a copy of this document be sent to my address listed above so that I may verify its validity. Given the amount of identity theft, I 'm sure you 'll agree that verifying your information is in your best interest. Finally, assuming you do not posses inquiry authorization, I request that, after removing your unauthorized inquires from my credit profiles, you also remove all of my personal information from your records and send me confirmation that you have complied with my requests. Sincerely, Signature XXXX XXXX
Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-02-19

Warrenton, VA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: I discussed refinancing my FHA mortgage loan with Quicken loans. I asked what the cost of the loan would be. I told the loan agent that I did not want closing cost of more than {$5000.00}. XXXX XXXX stated that was workable. When I got the loan papers my closing cost were {$20000.00}. {$11000.00} was loan origination point. She never stated there was a point. I asked her what her fees were I believe it was {$690.00}.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-19

Concord, CA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-02-18

North Tunbridge, VT

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-18

IL

Shopping for a line of credit

Consumer Loan: Personal line of credit

Complaint: This Company uses many different names XXXX and XXXX quicken loans, Quicken loans has obtained or attempted to view all XXXX credit bureaus on more than 6 times unauthorized.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-18

Hauula, HI

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: I have submitted a previous complaint that was considered closed. I went through the procedure properly and even disputed the company response. It has been almost 4 months since our loan was closed with Quicken and a month ago I was notified by them, yes, that they had made another error. XXXX of many, this error had to do with our insurance impound account. First of all we were told while doing the loan that the amount of insurance needed to be increased to XXXX in coverage. I offered to contact our agent to discuss this. Quicken insisted they needed to contact our agent. Meantime we never heard anything additional while the loan was in process, neither from Quicken or our insurance rep. You would think this would have been something they would have discussed with us. Three months into the loan we were contacted by XXXX XXXX at Quicken, stating that they made an error and did not impound enough funds for our insurance. We have our primary dwelling and a XXXX XXXX stated that they only impounded enough for the main home. She also said that the primary needed to be insured for the amount of the loan. I insisted that this could not be possible. After much back and forth email and pleas on our behalf, we found out this is not correct. We are now and have been dealing with this for over a month. The smaller dwelling was finally reevaluated by our insurance rep. This loan was audited and reviewed multiple times and they continue to error. The amount of stress they have put into our lives had been non stop. I feel like we followed all proper procedures, they were told and did have appraised XXXX dwellings. I feel like a closer look should have been made into the dealings of Quicken. My brother is a XXXX and assured us in all his training, that what we were to do was report this to CFPB. I am more than shocked at this point, that Quicken can continue in this manner to wreak such havoc. Their responses to my issues were sugar coated at best and there most used phrase is " I am sorry ''. They do n't hesitate to repeat this several or more times in XXXX email. It 's beyond reprehensible. Please look into this further. And again prevent them from doing this to other people who are less knowledgeable about how the process works.
Company Response: Closed with non-monetary relief

Disputed: No Timely Response

2016-02-18

Elk Garden, WV

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-17

PA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-17

Campton Hills, IL

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-16

Tarzana, CA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: 1. The mortgage company is collecting more tax than what is my assessed property tax. The mortgage company informed XXXX requires the mortgage company to collect my property tax. When I notified the mortgage company of their error multiple times, the mortgage company refused to adjust the tax collection to my assessed taxes. It appears to me the mortgage company is abusing their role with XXXX. Hopefully it can be seen the XXXX XXXX, 2016 Escrow Account Disclosure Statement shows a property tax payout of {$1000.00} with a false estimate of {$2000.00}. Clearly, it is a false statement to claim there will be a {$2000.00} payout will it will actually be {$1000.00} from the submitted tax assessment from XXXX XXXX. 2. The mortgage company initially collected all my information, told me I was qualified for a mortgage, locked in a rate at a 30 year fixed mortgage, repeatedly extended the closing time and then said it would need to be changed to an adjustable rate mortgage. I made multiple complaints to supervisors and executives but, received no response to any of my complaints.
Company Response: Closed with explanation

Disputed: No Timely Response