QUICKEN LOANS, INC.

2016-02-12

Scottsdale, AZ

Credit decision / Underwriting

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-12

Arco, CA

Settlement process and costs

Mortgage: Conventional fixed mortgage

Complaint: This is with regard to the XXXX of TRID and a Closing Disclosure done in gross error by Quicken loans. Our son ended up signing a closing disclosure ( CD ) under duress to close his purchase on time. I have been 24 years in XXXX. My son bought a home in XXXX in XXXX XXXX Ca. He went to Quicken Loans. I told him to get used to the terms LE ( Loan Estimate ) and CD ( Closing Disclosure ). I was my sons main contact and authorized representative on his loan. I was forth right and asked almost daily about my son 's CD and about it being correct. I have all of the emails to Quicken. We gifted my son the down payment. With this the loan coordinator at Quicken called me on XXXX/XXXX/15 that I needed to get the remainder of gift funds into title or our son would not get his loan docs. I kept saying I had NO idea how much to take in since I had not seen anything. I was finally sent an email that we needed to deposit the amount of {$29000.00} so I ran the day before XXXX to the bank and wired the funds. Quicken confirmed he had the funds on XXXX/XXXX/15 at XXXX PST ( please see email below ). I like how he wrote I will not make any promises the numbers will not change. I have received the wire receipt. Most likely these numbers will not change, but I do n't want to make a promise that could change. I do not expect any changes, but I do n't want to set you up for failure. Thanks, I was all over Quicken for the CD. They kept telling me it would be coming. On XXXX XXXX my son called me in a panic. He said " MOM, I do not have {$32000.00} to bring into closing. I called the closer who was very rude and abrupt. You will be able to pull the call. He told my son and I he had NO proof or documentation that the gift funds of {$29000.00} were received. I told him no way and that this was the only way it could go to docs per emailed for the Quicken loan coordinator. My son signed the CD under duress since he would not meet his close of escrow date if not. Thank goodness we had an amazing title officer who sent me the buyers closing statement to our son showing him what was really needed to be brought in to close and what was true and correct. This is why you the CFPB put TRID into effect. Please look into Quickens unfair lending practices and the fact they are not following TRID nor do they care for the small consumer!
Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-12

Rockwell, NC

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: My wife received a piece of mail from Quicken suggesting we refinance our mortgage to a higher rate and extended term. Yes, we could save more on our monthly payment by doing so ; however, I could not find anywhere in the letter where they indicated that this would result in our paying more interest over the life of our loan. And after doing calculations on my own, it looks like it would be XXXX upon XXXX of dollars more. Maybe I 'm overly sensitive at this time due to the buzz around Quicken 's Rocket Mortgage ad during the XXXX XXXX, but I 'm really getting fed up with Quicken 's aggressive marketing tactics that seem to go against Truth In Lending principles.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-11

FL

Application, originator, mortgage broker

Mortgage: FHA mortgage

Complaint: After being contacted with a postal mailer and e-mail, I responded to the advertisements and called to start a loan to improve my residence. I informed the person I spoke to, XXXX XXXX, that I needed a HUD XXXX loan to do the improvements. Instead she put me on track for a loan where I had to make the improvements before I could close the loan. The company 's action in trying to steer me into a loan that did not meet my needs was deceptive and time consuming. It almost locked me into a loan that did no meet my needs. After I rejected the loan they were misleading me into, they posted a letter to me claiming that I was turned down for the loan because I refused to provide credit information. That is untrue as I provided all such information and they had already issued me an approval letter. This has cost me time and as rates are increasing, significant money as well.
Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-02-09

Penfield, NY

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-09

Chesney Shores, IL

Credit decision / Underwriting

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-02-04

Okc, OK

Application, originator, mortgage broker

Mortgage: FHA mortgage

Complaint: XXXX XXXX, 2016 I received the attached FHA Pre-Approval letter from XXXX XXXX of Quicken Loans for {$110000.00} of a Home for Sale Purchase Price of {$120000.00}. Her cell number is XXXX. I signed a Sales Contract, at that time, for a home @ XXXX, XXXX, OK through my realtor XXXX XXXX @ cell phone ( XXXX ) XXXX. I then paid the Title and Abstract Company $ XXXX. XXXX XXXX, 2016 I received a phone call from XXXX XXXX, advising that she could not pre-approve my home loan for {$110000.00} but for only {$95000.00} which is {$20000.00} less than her XXXX XXXX, 2016 pre-approval letter. This is FRAUD regarding this FHA Quicken loan. XXXX XXXX 's Licensed in State of Oklahoma is NMLS # XXXX I had already advised my apartment manager of my ending my lease XXXX XXXX, as the Title and Abstract Company scheduled the home purchase closing for that date. What can you do to correct this matter so the XXXX/XXXX/2016 Pre-approval letter for {$110000.00} is my home loan amount? Thank you.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-03

San Francisco, CA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-03

Oro Valley, AZ

Application, originator, mortgage broker

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-02-02

MT

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: Quicken Loans sent us a letter dated XXXX XXXX, 2015 informing us our house was recently determined to be in a flood zone. The letter stated we had 45 days to purchase flood insurance. We immediately began the process. Our insurance company, XXXX, told us that all flood insurance policies have a mandatory wait period of 30 days. We experienced enormous difficulty getting proof of insurance to Quicken - despite numerous calls, email and fax attempts and various Quicken employees confirming receipt of the insurance policy and assurance that all was well. Despite that, Quicken force purchased flood insurance with a start date of XXXX XXXX, 2015 - a full 3 weeks before they even sent us the letter! Eventually they removed the policy, continuing to hold us responsible for XX/XX/XXXX and XX/XX/XXXX - the months we either did n't know or were mandatorily blocked out with the wait period. The two months that Quicken has retroactively forced flood insurance is only slightly below the quote we received for a full year policy from XXXX. That only began our problems with Quicken. The quest to understand changes and charges to our mortgage began in XXXX 2015 and sadly continues still. I can not say how many times, more than dozens, I 've called and emailed asking very specific questions to understand the costs and changes to our mortgage payments on a fixed rate loan. I can not understand how a financial institution does not know this information at the touch of a button and why it has been taking so long and still no information is known. Our mortgage payments have fluctuated and increased by several hundred dollars a month! We need help getting specific details of costs and really want to spread the word on Quicken 's shady business practices. We could not regret more our decision to refinance with them. Having a mortgage on this property for 11 years with never a problem before Quicken really says something about them.
Company Response: Closed with monetary relief

Disputed: No Timely Response

2016-02-02

TX

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-02-01

Dallas, TX

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: I have made additional payments on my loan every month since origination, yet it still shows the maturity date as XXXX 2022. I believe my maturity date should recognize the thousands of dollars I have paid in additional principal and reflect an updated ( and reduced ) maturity date when I look at my loan information on the company 's website.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-01-29

MI

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: In XXXX XXXX we purchased a house through quickens loan. This company was unprofessional and could not seem to get our paperwork together and delayed the loan process to the point that we had almost lost the house we were trying to buy almost making us homeless. We finally got it worked out and closed on the very last day of the extension we had with the bank of the house we were buying. Then XXXX XXXX ( a year later ) I received a call from quickens loan stating my mortgage payment was not made. I make my payment through an accelerator program were they pull the payment right from my account so I know the payment was made. I have never missed or had a late payment on any house that I have bought. After several calls to quickens they did not seem to know why my payment jumped up XXXX dollars a month. I continued to get person after person and each one had a different reason as to why the payment went up. During this time I pulled my closing paperwork out to comparing the numbers and come to find out quickens used the assessed value of the house instead of the actual tax numbers that were supplied to them from the township tax assessor. In my closing package it did not have the assessed value paperwork it had the actual tax paperwork. When this was brought up to quickens they stated that they were aware of making some errors on our loan. And they way they offered to fix it was to remortgage our loan. I do n't think I should get charged again for their mistakes. Quickens falsified our numbers in order to close the deal with us knowing full well that it would come back on us. I believe they completely mislead us and caused us so many frustrating nights. XXXX XXXX XXXX we have remortgaged our house through another mortgage company. But I continue to get threatening phone calls from quickens stating they are going negatively affect out credit if we do n't make the XXXX extra payment even though their system shows that the balance will be paid in full. The new mortgage company contacted quickens and adjusted our new mortgage to cover all monies owed to quickens. Again quickens is aware of this but they are still threatening me on the phone.
Company Response: Closed with monetary relief

Disputed: No Timely Response

2016-01-29

Levittown, PA

Cont'd attempts collect debt not owed

Debt collection: Medical

Debt is not mine
Company Response: Closed with explanation

Disputed: No Timely Response

2016-01-26

Boca Raton, FL

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Company Response: Closed with non-monetary relief

Disputed: No Timely Response

2016-01-25

Wonder Lake, IL

Credit decision / Underwriting

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Closed with monetary relief

Disputed: Yes Timely Response

2016-01-22

OH

Application, originator, mortgage broker

Mortgage: VA mortgage

Complaint: I would like to file a complaint against Quicken Loans, I completed a mortgage application that has not given me a refund of my " appraisal fee '' as I had previous appraisal that was used with their loan product. I was denied the loan almost two months ago and have not been able to get a response to get my {$400.00} fee refunded as Quicken Loans never conducted any appraisal or paid any third parties for an appraisal.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-01-21

Chandler, AZ

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-01-21

Billings, MT

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-01-21

MO

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: My servicer/lender has sent me an Escrow Account Disclosure Statement as required and in it they have changed some info that looks to dramatically increase my monthly payment for an inflated shortage that is mainly in the original cushion set in my escrow account. They are not giving me the appropriate credit for XXXX payment in the history and that is the inflation of the cushion only shortage. I am on a fixed XXXX income and we have a record of the only yearly payouts from my escrow account. I ca n't afford to bank money with no interest or actual need with them. The original cushion is not needed remain so high and I do n't get any interest for this excess. I understand the RESPA guide they used to set up my account in the beginning but I should n't have to maintain that figure ( {$390.00} ) as it is unreasonable with now knowing the required payouts for a twelve month period. I do n't have a shortage to meet my obligations in my escrow even with small changes ( ex. {$75.00} ) in my obligations. There is not a history of large changes of obligations in my previous years escrows for the 10 years in my home. I want to point out that I have talked with a supervisor named XXXX with Quicken Loans in the Escrow Department about this and he is not helpful. I have attached 1 photo of the original escrow document in my contract and 3 photos of each page of the new statement. Please see that the taxes are listed and due XXXX XXXX of each year and it shows that in the original document. My County collects both the city and county taxes and do not send out Bills until the end of XXXX after they get the rates established. XXXX confirms they send payment in early XXXX but he claims they take the money from my escrow in XXXX as reflected in item # 2 ( I understand they send bulk payments for many customers, not the issue ). This history shows only 11 months accounting and this is the change from original document. Item # 3 then goes back to the 12 month accounting, showing taxes payout in XXXX. All of this explains the inflated shortage they want to attribute to the cushion due to inconsistent accounting of equal monthly periods. I had a previous Harp loan with Quicken and they did n't send me an escrow document after 11 months asking for an increase in mortgage payment for escrow cushion. I have read the Form XXXX ( Missouri single family-XXXX/XXXX uniform instrument with XXXX, section # XXXX ) see 2 additional pictures, which gives information on 'Funds for Escrow Items '. This document discusses shortages in escrow account to meet obligations not shortages in cushion. I would like a refund of my escrow fund above a reasonable {$100.00} balance. In past years with previous servicer, I was refunded overages far above a reasonable {$100.00} cushion at the end of the year. I do understand that it is unknown what future insurance premium 's and taxes may be but will cross that bridge at that time. Thank you for your assistance in this issue and I look forward to its resolution before the schedule increase takes affect on XXXX XXXX, 2016. Sincerely, XXXX XXXX XXXX XXXX XXXX, 2016
Company Response: Closed with explanation

Disputed: No Timely Response

2016-01-21

Boise, ID

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: Quicken loans ( XXXX ) refused to provide a loan estimate when requested.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-01-19

Alexandria, VA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Company Response: Closed with monetary relief

Disputed: No Timely Response

2016-01-19

Hinkley, CA

Application, originator, mortgage broker

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Closed with explanation

Disputed: No Timely Response

2016-01-19

FL

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: Quicken Loans is horrendous! They waste your time, energy, patience and money! I have lost almost {$1000.00} that can not be recouped. They strung me along for FIVE weeks, when other mortgage companies knew in a few hours if I would qualify for a loan or not. I was passed between XXXX different people/departments during this ridiculous process, because " each person/dept. specializes in a different component ''. Trust me, none of them were that sharp to be wasting resources on XXXX people working on a very small loan! This company is A SCAM!!!
Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-01-18

Bloomington, MN

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: Quicken Loans " allows " me to make bi weekly payments, but then states they do not apply them bi weekly to reduce the interest on my loan. This is at the least unethical and deceitful. I want my biweekly payments that they take automatically out of my checking account credited when I make them. My loan was taken out with biweekly payments as part of the conversation with my loan officer so I can pay the loan faster and keep the interest down.
Company Response: Closed with explanation

Disputed: No Timely Response