QUICKEN LOANS, INC.

2019-07-22

Lutz, FL

Improper use of your report

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-07-20

TN

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Quicken loans fails to apply principal-interest payments : Quicken Loans has received principal-interest payments in full but have not applied one or more payments to the loan pay-off. All payments have been exactly in accordance with the mortgage loan contract including the schedule for principal-interest and in accordance with the schedule in the approved escrow agreement. Beginning in XX/XX/2019 separate checks have been issued for principal-interest payments and for escrow payments. All payments have been received on or before the due date by Quicken Loans. Quicken loans cashed the XXXX payment check that is clearly identified as principal and interest and the check clearly identified for for escrow but failed to apply the principal-interest amount to the loan repayment. The billing statement dated XX/XX/2019 falsely states that the last paid principal is {$0.00} and the last paid interest is {$0.00}. The canceled check that was cashed by Quicken Loans on XX/XX/19 for the XX/XX/2019 payment clearly stated that principal was {$750.00} and interest was {$700.00} for a total of {$1400.00}. Also Quicken Loans notified the client by e-mail on XX/XX/19 about payment information as follows : Payment received : {$1600.00} ( included escrow ) Total applied : {$1600.00}.
Company Response: Closed with explanation

Timely Response

2019-07-19

Rockwell, NC

Improper use of your report

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Credit inquiries on your report that you don't recognize
Complaint: On XX/XX/2019 I applied on line qith my current mortgage company for a 2nd home loan. I was denied. Immediately, after that I started getting calls from representatives from quicken loans but in a different department attempting to offer me a new FHA rate. I said no to at least 3 different people and I asked them to remove my information but that did not happen. So on XX/XX/2019. I receive a call from another quicken representative XXXX XXXX and I finally agree to listen to his sales pitch but it would have to wait until XXXX later that day because I was at work. I explained to XXXX that I did not want my credit ran a 2nd time because his company had just ran my credit 6 days ago and he should be able to use that. At XXXX XX/XX/XXXX I get a notification that a hard inquiry had been added on all 3 credit reports. Shortly after I get a call from XXXX. I advised XXXX that I did not authorize another inquiry and I am very upset by this. I asked them to contact the agencies and have the inquiry removed due to it was unauthorized and fraudulently pulled. Matter of fact it was done without me being on the phone. XXXX 's superior was listening in and took over the call. He argued me down that this would not impact my credit. I advised him I dont care I want it removed because it was done without my knowledge and consent. He continued to stress his point. I got no resolve from him. I need this inquiry removed from my credit report with all 3 credit bureaus
Company Response: Closed with explanation

Timely Response

2019-07-17

Scottsdale, AZ

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: I called Quicken Loans to request a payoff amount on my loan. I was told there would be a {$35.00} fee. I explained that I have been a customer for 5+ years and had refinanced this loan through Quicken, would they be able to waive the {$35.00} fee? They said no. I have been diligent and saved enough money to pay off this loan to be debt free and have Quicken Loans out of my life forever and they hit me with yet another way to collect more money from me. I realize they are in business to make money but how about congratulations on paying off your loan. No. {$35.00} please. Ridiculous. Oh well, I'm on my way to achieving millionaire status and not having a mortgage payment.
Company Response: Closed with explanation

Timely Response

2019-07-17

Boston, MA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Quicken Loans failed to notify us of a deficiency in our escrow account for over 7 months. Rather, they notify us by mail that our mortgage is going up hundreds of dollars -- their excuse? " We have 2 million loans and don't always catch an unorthodox tax spike. '' Had they notified us, we would be able to fix the discrepancy with the real estate tax but because they waited so long, the consumer suffers. Being a big company is no excuse for abiding by RESPA, nor is it an excuse to engage in predatory lending behaviors and unfair business practices.
Company Response: Closed with explanation

Timely Response

2019-07-17

Joliet, IL

Applying for a mortgage or refinancing an existing mortgage

Mortgage: FHA mortgage

Company Response: Closed with explanation

Timely Response

2019-07-16

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with monetary relief

Timely Response

2019-07-13

Beyersville, TX

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Home equity loan or line of credit (HELOC)

Complaint: On or about XX/XX/2019 I applied to QL over the phone to refinance my mortgage. They determined the value of my home to be $ XXXX and charged me {$500.00} for an appraisal which I paid. A few days later an appraiser appraised my house at $ XXXX. QL contacted me and stated the appraisal came in under market value. According to QL since the appraisal was under $ XXXX I would now have to bring more money to the closing. I would have to bring $ XXXX more than the $ XXXX Good Faith Estimate. I cancelled the process and requested a refund of the {$500.00} appraisal fee. QL refused to refund the appraisal fee. QL didnt tell me verbally or otherwise that specific conditions were associated with a refinance appraisal in this particular situation so I did know the risk. I dont recall ever being notified that I could lose my appraisal fee if the appraisal came back under market value and I chose to cancel the refinance process. This is a loophole that is detrimental to the homeowner.
Company Response: Closed with explanation

Timely Response

2019-07-12

San Francisco, CA

Struggling to pay mortgage

Mortgage: Reverse mortgage

Company Response: Closed with explanation

Timely Response

2019-07-11

Arsenal, PA

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: Applied for a mortgage with rocket mortgage by quicken loans to purchase a home on XX/XX/2019. Was extremely upfront and honest about what i was looking to achieve ( purchasing a duplex ) and spoke with XXXX XXXX, XXXX XXXX, XXXX XXXX. After pulling my credit, seeing that i wanted to put 25 % down as well as more than enough in reserves as well as an income to support it, everyone ( including the underwriter ) stated this would be an easy and quick loan to get done and wouldn't have any problem financing this property. After two months of getting pre-qualified, getting pre-approval and conditional approved as well as setting up the appraisal, inspection, receiving estimated closing costs etc i thought it was going great. I stopped talking to other lenders, took time off work to Then, 7 days until closing ( XX/XX/XXXX ) i get a call stating they wont be financing me anymore for this property. I asked multiple times as for the reasons why only to be told vague answers that the company doesn't want to move forward on this. XXXX XXXX would not tell me any reasons as to why i was declined so i have no idea what to fix or if there was something wrong. This process has caused me much stress, anxiety, ive have to taken off work to get either fax, email or submit documents, attend inspection and appraisal etc. All I'm looking for is why i was declined when they stated i had great credit, DTI ratio, more than enough in reserves and an above median income.
Company Response: Closed with explanation

Timely Response

2019-07-11

Nyc, NY

Improper use of your report

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Credit inquiries on your report that you don't recognize
Complaint: I reached out to rocket mortgage to get a rate quote. They asked for my & my spouse 's SSN and birthdates and pulled a hard credit report without allowing us an alternative. We just wanted to get a rate quote and did not plan to apply for the mortgage yet. This has damaged our credit scores.
Company Response: Closed with explanation

Timely Response

2019-07-10

Galena, OH

Closing on a mortgage

Mortgage: Conventional home mortgage

Complaint: This is in continuation of complaints XXXX and XXXX. I have asked a simple question that what was the breakdown of {$6800.00} which they showed as adjustments and credits in the estimate ( attached ). There has to be some math behind it but they never explained it. They did brainstorming for almost 2 months and explained the tax credit of ~ XXXX and that was the actual amount when I applied for the loan but they never gave the explanation of the remaining ~ XXXX. I have been asking the same question from past 45-50 days and they never gave me the answer. Everytime they come up with that I signed the documents, well that's because you gave me no option. You disclosed the final numbers 3 days prior to the close and then no one from your company talked to me to explain anything and I didn't want to loose the property and that's why I signed. And don't take credit of the additional {$3000.00} which was not there in the final closing as that was because I didn't opt for some of the title services so you guys have nothing to do with it. All I want is the breakdown of that adjustment and credits amount which you gave me in the initial estimate, that's it.
Company Response: Closed with explanation

Timely Response

2019-07-10

Liverpool, TX

Closing on a mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with monetary relief

Timely Response

2019-07-10

CA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Quicken loans mortgage # XXXX Full monthly mortgage payment was putting in suspense balance without paying down my principal and interest, so quicken loan earned illegal extra interest on my loan.
Company Response: Closed with explanation

Timely Response

2019-07-09

Crystal Mountain, WA

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-07-08

Discovery Bay, CA

Closing on a mortgage

Mortgage: VA mortgage

Complaint: Rocket mortgage will not close my refi due to my being involved in a car accident and being able to verify with my employer about missed time.
Company Response: Closed with explanation

Timely Response

2019-07-06

Seneca, SC

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: The refinancing application through Quicken Loans aka Rocket Mortgage has been a terrible experience. I have been victim of their unprofessionalism and incompetency. Quicken Loans aka Rocket Mortgage have repeatedly violated my RIGHT as a borrower to : - be informed about the total cost of my loan including the interest rate, points and other fees. - have access to a Good Faith Estimate of all loan and settlement charges before I agree to the loan and pay any fees -. Example one : during the application process they realized/discovered that XXXX XXXX XXXX ( aka XXXX ) held first lien of my mortgage, and not the company I had originally refinanced with the first time. I was asked very casually if I was open to paying off XXXX -failing COMPLETELY to mention the HUGE impact this action would have on the cash back terms of the loan. After I agreed to pay off XXXX they casually mention this will decrease by over 9,000 the cash back amount mentioned in the Loan Estimate terms I was presented XX/XX/2019 Quicken Loans should have been able to see the lien information when they pulled my credit report. XXXX being 1st Lien should have NEVER been news/surprise to Quicken Loans. I expected to be refunded in full the {$500.00} I paid for Appraisal cost. Appraisal I agreed on based on the inaccurate, deceitful " Loan Estimate '' of XX/XX/19. When I demanded refund my request was escalated. They denied the refund and continued to say : " I reviewed the communication you had with us up front and did find that you explained to XXXX that you had completed an 80/20 loan. The 80 % is the 1st lien and the 20 % is the 2nd lien. Since we were advised you had the 80/20, we set up the application thinking that the 20 % was the 2nd lien as this is typically the case ... " Their job, as a lender, is not to " think '', " assume '', or " guess '' liens .... their job is to be thorough, do a professional, honest, job and provide borrower with an accurate loan estimate after using the tools available to them as a financial institution - such as : my full credit report. Instead they made assumptions .... The decision I made was based on their assumptions, presented to me as fact. They have also denied me the contact information, requested several times, of the person they were in contact with in XXXX despite repetitive attempts on my part to obtain it. Please stop this company from abusing borrowers like me : I'm a XXXX XXXX XXXX mother, head of household, holding 2 jobs, to meet my financial responsibilities and pay all my bills on time ... they just scammed {$500.00} out of me, and have no remorse or sense of responsibility for their actions/mistakes. They refuse to refund me the {$500.00}, they mislead me into paying for appraisal.
Company Response: Closed with explanation

Untimely Response

2019-07-06

Scottsdale, AZ

Applying for a mortgage or refinancing an existing mortgage

Mortgage: FHA mortgage

Complaint: Weve been swindled by builders and lenders before, basically lying to get our personal information. XXXX XXXX took our deposit in 2007 and sold the house to another buyer, no explanation. I had to demand my money back. Now we are trying to just buy a small condo in Florida. My husband is a XXXX contractor making $ XXXX a year. Quicken loans gave us a bad time, and asked for the password to our bank account, then accessed the camera on our XXXX, and was secretly video recording us without our knowledge. We caught them red handed when the agent asked who he was speaking to. I told him he was speaking to my husband, and he said no Im speaking to you. He was watching me. Im sick of the XXXX
Company Response: Closed with explanation

Timely Response

2019-07-05

Houston, TX

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-07-02

VA

Applying for a mortgage or refinancing an existing mortgage

Mortgage: FHA mortgage

Complaint: I went through XXXX XXXX XXXX to obtain what I thought would be a smooth and quick process to obtain mortgage loan for purchase. Started out with a wonderful XXXX XXXX who really went above and beyond to see that I could be helped. This was the end of XXXX. On XX/XX/XXXX I received approval letter. On XX/XX/XXXX I was contacted - after agreeing to use XXXX 's affiliate for Title work - by XXXX. On the " message board '' I had a preliminary closing date of XX/XX/XXXX. It appeared that the wheels were in motion. However, the underwriters began to ask for additional financial information - anything that I sent was not good enough - for example- " could not use bank statement because the banks name was not on every page ''. I had to have my husband write a letter stating I had access to all funds in our JOINT account and sign it. ( do they not understand the meaning of a JOINT account?? ) After submission they came back and said could not accept b/c wrong account # 's. After correcting and having him initial - they came back saying could not accept b/c all parties had not initialed the correction. ( why am I initialing on a letter he wrote and signed allowing me use of the funds in our joint account? ) This continued with everything that was submitted. At this point we are about 2 weeks out from closing date. I am contacted by someone on the message board requesting additional information on my retirement fund. On the message board the underwriters were requesting the terms of the plan, not just a statement but the actual terms of my employer 's plan. We had a gifted amount from someone, we had signed gift letter as requested early in the process, stating we did not have to pay this back to the donor. The underwriters continued to request copies of the donors bank statement, withdrawal receipt, deposit slip, etc. Explaining that the donor 's bank statement had not cut yet we provided copy of checks from his bank showing it had passed through his bank as well as ours. The gentlemen I am now dealing with is in a " Solutions '' area and I am no longer working with the Senior Processor. This was not explained to me until I made multiple phone calls to all parties involved that I am extremely frustrated at this point, nearly a week away from the closing date they still show on the message board, and I have underwriters continuing to drill and drill requesting more and more, for example - had to provide copy of rent payment every month for the past 24 months. ( this is a week from closing ) I had provided everything they had requested. The gentleman in the " Solutions '' area then comes back stating that the checks the donor provided have the word Loan in the memo ... The underwriters are now requesting a written explanation from the donor ( who out of the kindness of his heart gave us this money ) explaining why he wrote that on the check. Extremely over the process at this point and now having to go back to this person for a 4th time. The donor, for us, writes the letter and signs. I went back and forth with the Solutions person stating I was ready to walk away and really did not want to request this from the donor. I was told " underwriting won't allow the use of the gifted assets without that letter '' explaining why he wrote loan on the memo. This was on XX/XX/XXXX. The letter was provided the same day. I understand FHA guidelines not allowing it to be a repay situation but at this point you have gone above and beyond with a gift letter stating funds do not have to be paid back and the letter of explanation also stating the funds do not have to be paid back. On XX/XX/XXXX - 2 days before STILL scheduled closing date of XX/XX/XXXX - I am told that the underwriters will not allow us to use the gifted funds as the checks have the word loan written on them. We provided exactly what they asked, and they come back 2 days prior to closing to say we can't use, so we had to withdraw. Nearly 3 months of many phone calls, many emails, and scrambling around to meet the requirements of ridiculous requests from the underwriters, to be told 2 days before closing the deal is off. Title work was supposed to be in place, insurance was in place ( luckily I had put them on hold ), notice given to where I currently am leasing and have to be out of by the XXXX of this month.. .and I have twin boys turning 6 on the XXXX who I had to tell we were not moving. Now I have no place to go. I feel I was extremely targeted here, perhaps b/c I was a woman going through the process on my own and don't have the best credit or high income. I do not know, but I know I was put through by the underwriters as what I would describe as unjust harassment.
Company Response: Closed with explanation

Timely Response

2019-07-01

Grey Forest, TX

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-07-01

Improper use of your report

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-07-01

Albany, NY

Improper use of your report

Mortgage: Conventional home mortgage

Complaint: On XX/XX/2019, Quicken Loans ran an unauthorized credit inquiry in order to refinance my mortgage loan, of which I did NOT want to refinance. I was very clear that I was NOT interested in refinancing and requested that they stop calling each time that I received a call from one their associates. The phone calls were many, I would consider it harassment, especially because they proceeded with working to close the loan, of which I did NOT want to proceed. I found this out when I went to make my mortgage payment online and on my home page it listed another loan with the header : " We're Working to Close. '' I am currently trying to sell our home, we have no reason to refinance, nor did I authorize any credit Inquiry to be done by Quicken Loans. I contacted Quicken Loans immediately upon this discovery, I was told an investigation needed to be done, and it would be a few days. On that day, I spoke with a woman named XXXX, and requested that Quicken Loans retract the unauthorized Credit Inquiry immediately. Within that time, I received a packet of paperwork to proceed with the loan, this packet was sent by a person who goes by the name of XXXX XXXX, with the title of " Power Banker. '' I am devastated by the fraudulent actions of Quicken Loans, and their willingness to conduct business in such a way.
Company Response: Closed with explanation

Timely Response

2019-06-30

TN

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Quicken Loans Violates Escrow Agreement. The escrow agreement includes specific provisions for payments into escrow and disbursements from escrow. Insurance was fully paid for calendar year XX/XX/XXXXduring closing in XX/XX/XXXX. A disbursement of {$1000.00} to the insurance company is scheduled to occur in XX/XX/XXXX for calendar year XX/XX/XXXXcoverage. The cost of the homeowners insurance and the cost of taxes has not changed for the property since closing in XX/XX/XXXX. In XX/XX/XXXX Quicken Loans violated the signed escrow agreement by disbursing {$720.00} to XXXX XXXX without our knowledge or approval. Quicken Loans now states that an escrow analysis indicates a projected shortage and therefore payments into escrow must increase. Insurance and taxes are the only two elements in escrow. Since these elements have not changed, there is no basis for changing the payments into escrow. We have committed to making a lump sum payment in XX/XX/XXXX if an escrow analysis at that time indicates a shortage in the escrow account. The Quicken Loans escrow management personnel refuses to work with us to resolve issues relating to their violation of the escrow agreement.
Company Response: Closed with explanation

Timely Response

2019-06-28

Wesley Chapel, FL

Trouble during payment process

Mortgage: VA mortgage

Complaint: I have concerns that Quicken Loans is knowingly participating in predatory accounting practices in order to garner higher interest rate return on payments from VA loan recipients. On or around XX/XX/2019 I received an email notice from " Rocket Mortgage '' subsidiary of Quicken Loans that an additional payment of {$2000.00} to my principle had interest deducted. This prompted further investigation on my part. I identified that Quicken has an unpublished practice of applying additional funds as future monthly payments in order to garner interest against those payments. If the funds are less than the next scheduled monthly payment they place those funds in a suspended state until after the next scheduled monthly payment to apply to your principle, and I they are greater than your next monthly payment they apply the funds to a future monthly payment. This was further substantiated by their customer support center. I further identified that rather than applying my 3.25 APR to monthly interest draws they were applying 3.285 interest draws. This amounted to 3 to 5 additional dollars being drawn for interest payment each month. Quicken loans has not provided supporting justification for the change in interest applied and has refused to apply the over charged interest to my principle. They have only agreed to apply the past two months additional payments to my principle and not the interest overages. Again, Quicken Loans knowingly and with expressed intent defrauded military veterans and possibly others.
Company Response: Closed with explanation

Timely Response