QUICKEN LOANS, INC.

2015-12-22

Santa Ysabel, CA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: I went through XXXX and was contacted by quicken loans for a refinance. I was told by XXXX XXXX of quicken loans that I could get cash out to consolidate debt. I asked what if my residence did n't appraisal for 80 %. XXXX of quicken loans assured me it would and there was no chance it would n't. It did n't appraise for that amount ( 80 % ) and now quicken loans is only offering a refi with no cash out which would actually lose me money. They made false promises and now charge me {$500.00} for the appraisal
Company Response: Closed with explanation

Disputed: Yes Timely Response

2015-12-20

NY

Application, originator, mortgage broker

Mortgage: FHA mortgage

Complaint: I contacted Quicken Loans for refinancing my mortgage and rolling in a HELOC. I informed them that I had foreclosures in my credit history and they told me that because the properties that were the subject of the foreclosures were not dwellings ( they were undeveloped lots ) Quicken did n't consider them to be foreclosures. While I did not understand why they said this it was obviously beneficial to me so I was pleased. I submitted an application for a conventional mortgage. At some point during the process I was informed that because of the foreclosures I would no longer qualify for a conventional mortgage. I had to change my application to FHA which calls for PMI. At closing I paid approximately {$3400.00} for PMI and am now paying approximately {$130.00} per month for PMI. Over the life of the mortgage, 30 years, this will cost me approximately {$51000.00}. There are many emails between Quicken reps and me that substantiate my claim. I also wrote a letter to XXXX XXXX, President and CEO of Quicken, but that only produced a phone call from XXXX of their reps explaining that they would n't do anything this issue. Quicken has never denied my version of this incident. They offered me a {$500.00} discount on closing costs of a refinance in 4 years if I want to refinance my current FHA mortgage for a conventional. This is a joke. I have much more detail on this matter available, including the letter I sent to XXXX.
Company Response: Closed with explanation

Disputed: No Timely Response

2015-12-16

Tampa, FL

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2015-12-11

Portage, WI

Application, originator, mortgage broker

Mortgage: FHA mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2015-12-10

Harrisburg, PA

Loan modification,collection,foreclosure

Mortgage: FHA mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2015-12-10

Parkrose, OR

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Closed with non-monetary relief

Disputed: Yes Timely Response

2015-12-09

Caldwell, NC

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2015-12-09

Clearlake Oaks, CA

Loan servicing, payments, escrow account

Mortgage: FHA mortgage

Complaint: In XX/XX/XXXX we purchased a home in XXXX XXXX, CA my mom and I are retired on a fix income when all things were satisfactory with Quickenloans the lender found everything satisfactory they funded. XXXX mortgage payments later we were told that things have change our home has increase in value by XXXX XXXX XXXX XXXX each month since we signed the contract and closed, that insurance premiums have increased some as high as two hundred percent that our monthly mortgage payment will be increasing by XXXX XXXX dollars beginning XX/XX/XXXX and they are being slow giving as an answer how they value our home so high to raise our insurance without anyone coming out to look at the home. I live in the XXXX XXXX in California XXXX XXXX no one is flocking to move here. We signed a contract at XXXX XXXX and XXXX XXXX at the XX/XX/XXXX they plan on raising our mortgage payment by XXXX dollars, which we can not afford,
Company Response: Closed with explanation

Disputed: No Timely Response

2015-12-08

Brookside, NJ

Credit decision / Underwriting

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2015-12-08

Bel Alton, MD

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Company Response: Closed with monetary relief

Disputed: No Timely Response

2015-12-06

N San Juan, CA

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: I had a XXXX car accident in 2006 which left me XXXX and XXXX for quite some time. I am now clear headed and realize I was a victim of a predatory loan scam by Quicken. I now need to renegotiate this and/or get some relief such as the additional interest removed and a fixed rate. The loan has been sold several times.
Company Response: Closed with explanation

Disputed: No Timely Response

2015-12-05

Forney, TX

Loan modification,collection,foreclosure

Mortgage: FHA mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2015-12-05

Thomaston, GA

Application, originator, mortgage broker

Mortgage: VA mortgage

Company Response: Closed with monetary relief

Disputed: No Timely Response

2015-12-04

TX

Application, originator, mortgage broker

Mortgage: FHA mortgage

Complaint: I wish to file a complaint against Quicken Mortgage loans. I feel that there initial Mortage qualification process is unfair and inadequate when it comes to eliminating the need to unnecessarily adding a a hard inquiry to my credit report which in turn reduce my credit score by a few points. A few points in my case is a tremendous detriment that pushed me from one demographic to another financially. There are certain criteria that Quicken use that will disqualify an individual from being able to acquire a loan from quicken. In my case the criteria was that of child support arrears payment that were current. I feel that Quicken has been in this industry for a long time and they know what criteria will disqualify an individual. This criteria can be ascertained early on in the qualification stage so as to eliminate a derogatory credit pull on a consumers credit, as is the case with me. Their current process of pulling credit as a first resort is unfair and unnecessary.
Company Response: Closed with explanation

Disputed: Yes Timely Response

2015-12-03

Houston, TX

Application, originator, mortgage broker

Mortgage: Other mortgage

Complaint: In XXXX, I began the mortgage application process with Quicken Loans. The prequalification process went smoothly. It took some time to secure a contract that put us under a time constraint. Before we committed to the contract, we wanted to be sure it was feasible to close. I submitted a written request to expedite which was approved. Not only did they assure me it could be done, they assured my agent, the listing agent and the seller's lender it could be done. The city where I was purchasing had a natural disaster. From experience, I knew that re-inspection requirements could impede the appraisal process. I brought up my concerns but I was assured there would not be a problem. Ultimately, it did create a problem. I received an email from the agents indicating the appraisal had been assigned and it looked like we wouldn't be able to close. The appraiser could not even inspect the property until the day before the scheduled closing. I immediately tried to address the issue. A company as large as Quicken should have the ability to find a way to honor their commitment. I requested escalation but ended up being referred back to the processor. I did not get my concerns responded to by another party until after the transaction was no longer viable. There were also some other concerns that I had with the process: 1) I was not able to view my GFE before paying a XXXX commitment fee 2) Reluctantly, I did pay it. However, I was not able to review my GFE before being asked to sign documents. The GFE was towards the back of the package. I would not sign until I was able to view it. When I did I found that I was paying points for the rate that I locked. 3) When I locked my rate, I was not told the cost of that rate. When I saw it on the GFE, I complained and my concerns were given to the originator's manager and addressed. 4) There is not a sufficient complaint resolution process. Each time I tried to escalate my concerns about the appraisal, I was referred back to my processor. The origination group could not provide assistance in that area.
Company Response: Closed with explanation

Disputed: Yes Timely Response

2015-12-02

Youngstown, OH

Cont'd attempts collect debt not owed

Debt collection: Other (i.e. phone, health club, etc.)

Debt is not mine
Company Response: Closed with explanation

Disputed: No Timely Response

2015-11-30

Woodbury, PA

Cont'd attempts collect debt not owed

Debt collection: Payday loan

Debt is not mine
Company Response: Closed with explanation

Disputed: No Timely Response

2015-11-30

Orion Twp, MI

Loan servicing, payments, escrow account

Mortgage: VA mortgage

Complaint: Is it possible to launch a class action suit against my mortgage company Quicken Loans? They held onto my escrow refund XXXX {$3200.00} XXXX for 18 months without any notice until this month. I received a call from an unidentified XXXX number ( I thought it was a telemarketer ) on Monday XX/XX/XXXX. I almost deleted the voicemail without checking it, but thought it might be from a dealership that I recently bought a car from. When I checked my voicemail the next day, an automated message said that it was Quicken Loans, and that I had a balance on my account that needed to be resolved, that that I needed to call another XXXX number. I called the number ( thinking that I owed money - tax or insurance increases, etc. XXXX, and after being transferred, I was told that I had a refund, and they asked me how I would like it to be paid. After I told them to deposit it in the same bank account that I pay my mortgage from each month ( autopay ), I asked how long my refund had been available. The representative replied that it had been available since XX/XX/XXXX! I asked why it took them so long to give me my refund, and the representative said that Quicken Loans has over XXXX XXXX loans, and that it takes a long time to reach out to everyone to process their refunds. I received my refund ( 18 months later XXXX, but thought about other quicken Loans customers. Am I the only XXXX? Are there other customers who have loaned Quicken Loans money interest free for months or years? Has anyone else bothered to complain, or were they just happy to get " found '' money? If there are a XXXX customers like me, then we 're effectively loaning Quicken Loans interest free money while we pay them interest on our mortgages - that 's not fair! I submitted a complaint via the XXXX XXXX Complaint ID # XXXX Quicken Loans, Inc. XXXX, but Quicken Loans basically said tough luck. That they sent me a check 18 months ago, and that I never cashed it. According to the XXXX, the matter is now closed. The customer loses again. I never received a check in the mail from Quicken Loans. If I did, I would have deposited it immediately. I could have used it to pay for medical bills, car repairs, etc. I proposed that Quicken should pay customers interest on the money that they have held onto, and send customers alerts whenever they are owed a refund. If the situation were reversed, and I owed Quicken Loans money, I 'm certain that they would find several ways to remind me rather than let 18 months go past. Quicken had my money interest free for 18 months, no apology, no explanation, other that it was " supposedly '' my fault ( the customer ), that they send me a refund, and that I did n't cash it? I get, open, and read all of my monthly bills, and none of them in the past 18 months ever mentioned that Quicken Loans owed me money. I also receive countless emails : Quicken Loans is # XXXX in Customer Satisfaction according to XXXX. XXXX, Happy birthday, refinance at a lower rate - but I never got an email that said that Quicken Loans owed me {$3300.00} in the past 18 months. How many other customers has Quicken Loans held onto their refunds interest free, and for how long? How many people got a message from an obscure XXXX # and ignored it, and delete their voice mail?
Company Response: Closed with explanation

Disputed: No Timely Response

2015-11-28

Niantic, CT

Taking out the loan or lease

Consumer Loan: Installment loan

Company Response: Closed with explanation

Disputed: No Timely Response

2015-11-27

Sarasota, FL

Credit decision / Underwriting

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2015-11-27

Ivanhoe, VA

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2015-11-26

Hornell, NY

Application, originator, mortgage broker

Mortgage: VA mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2015-11-25

Murray, UT

Settlement process and costs

Mortgage: Conventional fixed mortgage

Complaint: I was in the process of re financing my home, I was working with a few different mortgage companies trying to find the best deal. XXXX of these companies was quicken loans. I made a decision to go with a local company but the banker I was dealing with at quicken loans using their aggressive tactics told me " the rates went up this morning but lucky for you I locked you in already. '' Not knowing everything about mortgages like most people, He made me feel like I was already stuck and I had to go with him. So I went ahead and filled out the mortgage application and within minutes they had my credit card info and charged me a {$500.00} deposit for the appraisal and credit info. I felt this was quite quick but knew It was part of it so it was fine.. I was rubbed the wrong way from the very beginning and felt uncomfortable using this company, so I asked around and also the lender I wanted to work with and found out I can back out and cancel the loan and if I did it soon enough I could get all my {$500.00} back. So this is what I did, I called Monday morning the XXXX of XXXX and cancelled my loan. I told the banker I want to stay on the phone until it 's 100 % finished. He then told me it 's done. There is nothing more you need to do. I then asked him to transfer me to the right person to talk to about getting my refund to my credit card. As I spoke to the woman in that department she told me everything was final and it would take 7-10 business days and I would see my refund. So I waited until Friday XXXX XXXX and never saw my refund, so I called to find out what was going on. A lady in customer car looked up my info and said you 'll see it on Monday and to call again if it 's not there.. Monday comes, no refund. So today, Tuesday morning the XXXX of XXXX I called again to find out what 's going on. I get another lady in customer care, as she looks up my account she tells me they have n't even started the canceling process, and this process will take their team 8 days to complete and then the refund will come 7-10 business days from that. It has been 15 days and I will not receive my {$500.00} refund from a multi-billion dollar company for at least another 2-3 weeks! 5 weeks in total is completely unacceptable. It 's a credit card, very easy to refund a charge.. The high pressure, plus using tactics to make me feel trapped just to take my money as fast as possible and then give me the run around and hold my money hostage for as long as possible so they can make more money is downright disgraceful and I am absolutely disgusted with this company. Hopefully something happens with this and consumers are warned about working with any company like this.
Company Response: Closed with explanation

Disputed: No Timely Response

2015-11-25

Finksburg, MD

Application, originator, mortgage broker

Mortgage: FHA mortgage

Complaint: XXXX XXXX, 2015To whom it may concern : I would like to file a formal complaint against XXXX XXXX, XXXX XXXX XXXX, and XXXX XXXX XXXX, XXXX, their appraiser. In XXXX of 2015, I made application for an FHA loan with XXXX to purchase the home I was renting. I then paid them {$480.00} for an appraisal. The appraisal was done and I received a black and white copy. Unfortunately, XXXX began asking for strange documentation, implying that I was likely laundering money, which I was not. In XXXX XXXX, I decided we were at an impasse and made application with another company. The new company, Pacific Union Fianancial, asked for the FHA case number to be assigned to them, which it was, and for a color copy of the appraisal. It took several weeks, but eventually a color copy was provided to them. Pacific noted thast the appraisal called for certain repairs that needed to be done. It also failed to note that the seller was paying {$4500.00} torward my closing cost. Pacific Union, my mortgage broker, and I all requested that the appraisal be corrected and a final inspection would be needed. We spoke to XXXX, XXXX, and the appraiser. Each refused to cooperate despite FHA regulations that require them to do so. Eventually, we had to pay {$450.00} for a new appraisal. The time lost in attempting to get what should have been provided required several rate extensionswhich caused us not to get a lender credit of {$660.00} which we would have received had XXXX and it 's appraiser followed FHA rules. In addition, we had to pay {$450.00} for a new appraisal. We believe we are entitled to damages of {$1100.00}. Sincerely, XXXX and XXXX XXXX
Company Response: Closed with explanation

Disputed: No Timely Response

2015-11-24

San Jose, CA

Credit decision / Underwriting

Mortgage: Other mortgage

Complaint: I HAVE APPLIED FOR A PRE- APPROVAL LETTER AND WAS AWARDED THE AMOUNT I ASKED FOR, BUT I HAVE NOT USED MY LOAN YET, SOMEONE STOLE MY LOAN AND PURCHASED A HOME WITHOUT MY PERMISSION OR CONSENT. THEY USED MY CREDIT TO PURCHASE A HOME, AND THERE IS A MORTGAGE THAT SHOWS ON MY CREDIT REPORT, HOW CAN I REMOVE TI AND WHERE IS THIS HOME SO I CAN REPORT IT TO MORTGAGE FRAUD? THERE IS NO SHARED CREDIT ACCOUNTS.
Company Response: Closed with explanation

Disputed: No Timely Response