Quicken Loans

My husband and I financed our mortgage through Quicken Loans and closed at the end of April. I only wish we would have done our due diligence before choosing to use this company. They were suggested to us by a relocation company we were working with. In our ignorance, we thought that perhaps it would be in our best interest to use Quicken. We were wrong. What a long, drawn out process this ended up being.

This is our fifth home purchase. We thought we knew what to expect from the whole loan process. We checked our credit score before starting this endeavor and it is excellent. Naively, we thought this would be fairly easy. After getting knee-deep in with Quicken, we read other reviews and felt their pain. We had to go through the torture of submitting, resubmitting (when they say they never received documents), and then explaining in writing items which are very self-explanatory. Seriously, where did all those documents go that we sent in? Oddly enough, documents we sent in were taken off the long list of requested items they needed only to be put back on a short time later when they said they never received them. It would be one thing if it happened once, but again and again. Come on.

We had to provide every single scrap of financial info about ourselves. When we made deposits into our checking account, we had to verify where the money came from. We had to do that several times. We were made to feel like criminals. Communication was a joke when trying to reach them to ask a question. When they wanted anything from us, oddly enough, it was never a problem. The amount they said we needed for closing varied by around $10,000. We had to show that we had the higher amount, of course, even though that figure was obviously pulled out of the air. I could go on forever but I am trying to put the experience in the past. My husband and I lived through it but I will say it was one of the most trying and stressful experiences of our lives. If I can save anybody else out some anguish by warning them about Quicken Loans, then writing this review was worth it.

First, I was entering the marketplace with the intention of taking advantage of the great mortgage rates and the government refinancing incentives, specifically the Freddie Mac streamline refinancing program. I, like I am sure many of us, was on the internet and made the mistake of inquiring about loan rates. Sure enough, within minutes the sharks were circling.

I agreed to speak with Ben ** who immediately stated I was ineligible for such a program and directly went to the VA loan option. He worked with the numbers and when asked, finally sent an extremely abbreviated GFE after his dance was done. Upon contacting me again to consummate the "deal", I was not ready to make a commitment. When he inquired as to why, I stated I would have to think about the size of the funding fee (3.3%), since this is a reinstated benefit for me. Immediately, Ben wanted to "help" me out. He stated he went to the "Vice President" and was back on the phone with a different set of interest rates and "credits" which of course were the best deal in the market?

I wanted time to consider the offer, at which point the "used car salesman" tactics appeared. Snippy and condescending comments were hailed at me with the outcome being, "Well, call me when you are serious about a loan." Fine with me! I hope this was the end of him and Quicken.

Today, I accepted a call from Ben ** who was inquiring about a decision, "What are you looking for?" I stated frankly that I was shopping for a better rate. Emphatically Ben stated that I will not find a better rate, "this is a government regulated program, the government sets the interest rate."

My, oh my, not only is this blatantly false but is in contrast to the two different rates he himself had given me only three days before. Needless to say, I have been spared the deceit and dishonesty of this company because of the "used car salesman" mentality and deceptiveness of this agent. I am sure he has not gone "rogue" but is representative of the quality and integrity of this company. That is to say, there is none! I will not deal with these modern day snake oil salesmen and hope you will spare yourselves the indignity of try to do so.

I was able to close a loan with Quicken Loans despite the hit on my credit caused by a divorce, etc. I ended up with only mediocre credit, but still got my VA loan at 4.25%. I had one loan "specialist" who was on the rude side, but he was quickly replaced by Megan. She was very good to work with as was Chris, who actually seemed to work miracles to make things happen. I did experience the need to re-fax or clarify submitted info. The closing was extended twice past my lock-in rate; both were due to seller issues and actually resulted in my getting a 0.25% lower rate at closing.

My only real complaint is with the appraiser who services the Central Texas area. I know they have to be objective, but I tried to enlighten him about several things somewhat unique to this property. He would barely speak to me and as a result, he missed a half bath off the garage and only 7 acres of pasture land in the back. As a result, our appraisal came in below my offer to the seller by $5000. He graciously worked with me (the seller, that is) to make things work. I didn't catch the missed bathroom and acreage until after closing when I actually got the full appraisal report (and time to look at it in its entirety). To some extent, it worked to my benefit or at least caused no harm, but it still indicates an incompetent appraiser.

My husband and I had heard good things about Quicken Loans, so we decided to refinance our mortgage. Upon going through the process and getting to the appraisal, the company that came out and provided information for the value of our house had some different numbers for square footage and acreage of land. Due to the inaccuracy of the information from this appraisal and our mortgage papers, I felt that I should not be responsible for the full amount of the appraisal. Nick ** would hear none of this. He was very uncooperative and unwilling to work with us. His close-minded attitude was felt from the very first hello. When I asked to speak to someone else, he stated that would be the CEO or president and that would not happen.

I work in the customer service industry and his complete lack of customer service is disappointing and bad press for Quicken Loans, word of mouth is the best and worst advertisement. Had Nick been more oriented to helping instead of being macho and displaying total disregard for the customer, I might think differently of Quicken. But Nick ** is a bad representative for your company and proved twice his unwillingness to be of service. As I still feel that the appraisal information, as compared to my mortgage papers, is incorrect, why does a person have to pay full price for a service that was not correct? What a waste of money and my time when times are tough for everyone and then having to deal with people like Nick **. If a supervisor of Nick's, which is who I asked to speak with upon getting a stone wall from Nick can return my call, that would be great. In my employment, the owner has no issues talking with his customers that have issues with his business.

I applied for a Quicken Loan online to refinance my mortgage. I received a call from a representative who explained to me how easy and quickly we would be able to close on the new loan and lower my interest rate. They asked me for a $500 good faith deposit. In return, I asked them the probability that my application would be rejected. I was told 0%. My lender also told me that they would not ask for a deposit if there was any chance the loan request would be rejected. I sent them the deposit. After they received my deposit, all I ever received was a rejection letter. I tried many times to contact my lender, but I have never been successful in talking to him. I contacted the Better Business Bureau because of the A+ rating. I even contacted my State's Attorney General. My case was not resolved by either agency. I have moved on. But if you are reading this because you are considering borrowing from them, stop! Go someplace else, anywhere else. Furthermore, BBB gives them an A+ rating, what does that say about the BBB?

I, too, was taken for $400 only for the promise of a refinance that would save me money. They (Quicken) also came in with a lower appraisal. I think, and this is just my opinion, once they pull your credit report, they can see how much exactly you owe on your house. Then, they inform the third party appraiser of this information, and this is where the appraiser bases his figures on. If Quicken does this a couple hundred times a day, easy money!

I applied for a refi with Quicken Loans. They eagerly took my money and promised a closing within 45 days. Absolutely nothing has been done on our loan since. They keep passing me around to different employees and no one knows what is going on with our loan. Our credit is good and we have a very good debt to income ratio. They sent us 2 emails saying our loan had been approved and was ready to close. They then called me and told me our loan had been suspended. First, they said it was because of a bad debt to income ratio, which is impossible because we have no debt except our home. Then they said it was because my husband is a temporary employee, which is not true. I learned that Quicken was contacting the wrong employer. This went on for weeks. We even had my husband's employer call Quicken to straighten the mess out and Quicken would not take the calls or return them. It all boils down to total incompetence. I don't think they actually know how to close a loan. I think it is a scam to get the initial $500 and then they don't even try to complete the loan.

Mortgage refinance: I was told by Mr. **, a manager at Quicken Loans here in AZ that he could save me over $250.00 a month on our home and to secure a rate of 4.25% for 30 years only on our first mortgage (they would not touch our second, because it's not a Fanny- or Freddie-backed loan) for the fee of $500.00. Well, after they got the money and ordered the appraisal on our home, it came in at $115,000. We owe $150,000 on that loan. So I tried to call the main office, in which I had called before, over there at Quicken and got some recording wanting me to purchase a horoscope. That was just plain weird, so at this point, I knew we had been taken for a damaging ride.

When I e-mailed Mr. ** after the fact, I asked how much the appraisal would cost me; and he replied that it's around $350.00. They ended up charging me over $430.00 for the appraisal plus all the credit check fees after going round and round with my credit card company. I was able to so far get up to about $44.00 back. I am still asking for more of our money back, around the amount of at least the $350.00. This was a hard blow to us, especially in these times. These neanderthals are good for nothing, just hurting the consumer who needs help. They only care about staying in business by getting the fee to supposedly secure your rate. It's a scam. Don't do it. Where's the class action, because I'm in!

I only wish I had found this site before I responded to their advertising. I feel like I was pushed into a loan to get the initial $500. I was told that we would close in 30 days... that was two months ago. Service is horrible. The minute they get your money, you are handed off to a service center where the right hand does not know what the left hand is doing. Different people would call me asking for information I had already supplied. Some of the things asked for made no sense and I had to push up the ladder to talk to someone who could fix it so we could move on. Meantime, the clock is ticking on my locked in rate.

I was asked for two years worth of income tax returns which I supplied. But they also required that I sign forms allowing them to get the same from the IRS. Why do they need two sets? Either one or the other should do. They changed the terms of the loans three times. No one ever returned emails and it took several calls to get a call back. At one point, I was directed to call a person. That person told me to call someone else who I never heard of. When I balked, he told me to call someone else. I have not heard from them in over a week when I was told I would be called in a couple of days.

Today, I go on the site and see this message (with no posting date): "It's important that you speak with ____ as soon as possible so we can continue with your loan. Until we discuss your loan with you, your experience on MyQL will be limited. You will not have access to the Messages or Loan Details screens until we straighten everything out." Needless to say that I have placed two calls to this person with no response. Unless you have nerves of steel and are willing to throw good money after bad, run baby, run.

I wanted to let the people who previously posted their experiences to know that I am grateful. I talked to someone yesterday afternoon at Quicken about refinancing. I was pressured immediately to give a deposit. I was immediately uncomfortable about it. I did it anyway, but it was too late in the day to process the payment. It should have come out today. In the meantime, I got online and looked at all the comments on here. I called my bank and changed my credit card number. I called Quicken and told them no thanks. I am out $5 for the new credit card, but you all have saved me $400 and a lot of headache!

Quicken Loans is a rip-off, they could not refinance my loan so they filed a letter of denial with FHA and now I cannot get anyone to get me an FHA loan. They are a scam and should be shut down by the feds. I paid for appraisal and filing document. I lost money and time that screwed me in the end.

I closed a loan with Quicken Loans on November 8th of 2011. Five months later, I receive a letter that my insurance information is missing. I call Quicken Loans and I'm told that they need my homeowners insurance company (NJM) to call them to update their information. Note that I provided this information twice when closing the loan.

I called NJM and they told me that Quicken Loans never provided the new information and they still had my prior bank on the insurance. I had to get my closing statement from November and provide all the information updating the policy. I then called back Quicken Loans a day later (April 16th) and they told me they have never paid my insurance through the escrow account that I had been funding since they didn't have my insurance information. How is this possible because it is in my closing statement?! Anyway, Quicken Loans told me they would expedite the payment and everything is all set.

On April 26th, I received a cancellation notice for my homeowners insurance from NJM due to non-payment. They told me they still were not contacted nor paid by Quicken Loans. Therefore, I decided to pay the premium (almost $1,000) and did so over the phone through my checking account. This was supposed to be paid by Quicken Loans through the escrow account as per the mortgage agreement. If this wasn't enough aggravation, yesterday, I received a letter (second notice!) from Quicken Loans threatening to raise my mortgage payment if I didn't furnish my homeowners insurance information.

I am absolutely outraged at this incompetence and lack of customer service. How can this company lose my information, wait 5 months to contact me, never update NJM with the new mortgage information, and not send the escrow payment as promised after I spoke with them? I ended up doing all the legwork myself as well as paying my own insurance premium and this is still outstanding.

It is the same experience with me also as explained by others. I think these companies are sharks. I had no hope of refinancing my house before, but after President Obama's office made announcement about the 125% loan amount, I thought this is the time to apply for a refi. Through HARP program, I had made a package and I was advised that I am eligible for a refi after March 19. My mortgage bank is Wells Fargo. I informed them about this, but they rejected me outright. I don't believe any bank will be ready to lose hundreds of dollars from a customer. I then approached Chase Bank and they said they consider only their own customers, but he kindly gave me Quicken Loan's contact number and strongly advised me they might be able to help me.

Then the same story as others. I was charged the deposit (with the lovely name) of $500 from my credit card. After a couple of weeks, I was informed that the appraisal of the house was only $120,000 (my original loan amount was $180,000). They informed that if I am ready to part with $10,000, they might be able to help me, which I rejected. I was charged $380 for appraisal, and $28 for credit report and monitoring. In a nutshell, President's refinance program created a new path to feed these sharks from the bit of food from the general public's plates. Maybe a small percent are getting the benefit, I hope. Just see the bonus the CEO's of these banks are going to get - probably millions more than last year!

Money upfront: Talking to Brian ** of Quicken Loans was as expected. He wanted my SSN and credit rating, and after finding out that my credit is excellent (FICO = 800+), we eventually got around to where he wanted my credit card number. Seeing that Quicken Loans has a history of hundreds and hundreds of complaints of taking people's money and then not approving their loans, I would not give the card number to him. That was the end of the conversation as far as Brian was concerned. They will not deal with anyone who wants to pay their fees after the loan is approved. Mind you, he had already looked up my credit history and FICO rating.

We should file a class-action suit against Quicken Loans. I also got scammed by Quicken Loans. After doing all the paperwork and providing them with the most sensitive financial info (maybe their next step is to abuse that), I was given an absolutely absurd appraisal of the property which was demonstrably unprofessional and provably wrong. Of course, they kept the appraisal money, even I vehemently complained. I still haven't given up on getting my money back.

Advice to would be Quicken Loan applicants: beware, beware, beware, you get what you pay for. They are like a seductive woman working to lure you in. Once you are in, they want you to do only what they want. My story is like the others' LendingTree, recommended, too good to be true, they offer all the stops, kind of like when you're purchasing a car, the salesman tells all the right stories, matches personality and you'll live happy with your decision. Yes, warning alarms, they bring you in. We wanted to purchase a property to help our daughter in another state. They have all the tools, salesman talking, "We'll create an FTP site, you will have a list of documents and you can work on them at your pace. When completed, it's gone from the list (they did not tell me that all documents pull up blank on their site on the latter)."

After completing all the list of documents and we were in the closing stage, surprise, surprise, surprise (just like Gomer Pyle), all documents need to be resubmitted (sounds familiar) and you have to submit now. The next day, another surprise, they found another and on, and on, and on. When asked to make a list and give what items that were needed, they submitted four items, we complied and we sent the items. The next day, more items are missing. During this time, the same song playing, we can't close by the due date. I asked the person why, said that their IT department can't correct the problems with the documents being pulled from the FTP site as blank. Why weren't we notified when documents arrived at the FTP site? Why did they take over 4 weeks to notice this problem and now, a week before closing, we have issues. Every day you send and resend documents, and every time there's something new.

Beware, look at others' comments, they take us for a ride. We got so mad so we fired them. They emailed me that they will deny the loan. I reply back, that's not correct, make sure to enter as such that I canceled the loan. I would check my credit to verify. I can say that I only lost the $400.00 "good faith" deposit and countless hours providing documents. Please, please research and do not get involved with this company. For the house, I will need to pull from my retirement to help our daughter. When contacted by another mortgage company, I was told all about Quicken Loans and was directed to this site to read for myself. If only I would have done this before. What you read is true, beware of them, some of the stories are very sad and people like you and me are paying. What they're doing, people losing their homes and losing their credit. Don't be one of them. Remember to avoid them if they're too good to be true.

They truly are a nightmare. These complaints could all have been written by me because they are exactly the same thing that happened to me with Quicken Loans. After much leg work on my part, sending in forms over and over again, only to be told they never got them or they were incomplete, I got an e-mail stating that I needed to send in 52 more pages of signed and completed forms! I refused, telling them I had already sent all the forms they needed but they insisted they didn't have then all.

Then on April 2, I received a letter from them stating they were sorry they couldn't help me with my loan but hoped they could help me in the future and give them the opportunity to earn their business and trust. I thought this must be a bad April fool's joke because there is no way in hell I would use Quicken Loans again and I will be telling everyone I know and even people I don't know who I just happen to meet all about Quicken Loans and their scam to get $500 only to tell you that you do not qualify for a loan.

I have a credit score over 800, have never paid a bill late and my debt to income is low but I don't qualify for the loan? Their advertising slogan is that they are "Engineered to Amaze". They truly are amazing. They amaze me that they are still in business after scamming people out of their money and never following through with the loan. They require so much paper work and when you send it, they will insist that they didn't get it, so you send it again only for them to say that they didn't get it once again. Stay away from these people if you are considering refinancing your mortgage!

In a nutshell, I paid a $500 deposit that I was told it would cost after a lengthy conversation on how most banks wanted $2700 out of pocket upfront. Then, there's the phone call confirming what they could do for me. After looking on the internet, I wasn't happy about not getting my cash out request. Then, there was the appraiser who told me homes were being appraised back to 2002 rates. My home was under-appraised by over $15000. The appraisal didn't show up on my account till way later. Then the notary came out. The paperwork had hidden fees that weren't on my QL internet account. I have an 825 credit score. I was reluctant to sign, but I did because the notary assured me that I had 3 days to fax in the notice of right to cancel that clearly states: "We must return you any money or property you have given to us in connection to this transaction."

So I signed, dated it and faxed it off before time was up. The hidden fee was $1622.50 for a discount, plus my $500 was added on top of what was agreed on. It amounted to over $3900. Plus, I requested $10000 cash out that they also agreed to. I was only going to get $8990. When I asked why, they told me because I didn't have to pay a month's mortgage payment. I also called my mortgage company and asked what my pay off amount was. QL was off by $400. When I mentioned that, they said they didn't know how they missed it

After arguing about these fees and being arrogantly told that I couldn't do better and that anyone else would be lying to me, I found a mortgage specialist who made me a better deal. However, something tells me I won't get my $500 back, even though I sent the right to cancel paperwork in. These people need to be hung up to dry. I'm on Social Security Disability and can't afford to be ripped off. I felt I was taken advantage of and they made me feel ignorant when the numbers didn't add up. I would also like to be notified if there's a lawsuit against these people. They owe me some money! And when I asked them about the right to cancel agreement, the man got nasty.

I contacted Quicken about an FHA streamline refinance. I was informed that I would need to pay a $400.00 in good faith payment to proceed, but this amount would be applied towards my loan. I uncomfortably agreed. I asked multiple times as to if this was a "no money down" loan and was assured it was. However, during the course of the information gathering and the agent running my credit, he would now and again change the definition of a "no money down" refinance. I was informed my credit and income were excellent, and he saw no problems and would get this shipped off to underwriting for immediate approval. I asked if it was going to cost me anything more than the $400.00 I had already paid and was told "Well, we may need you to come up with an additional $735.00 to prepay 6 months of taxes and insurance but they might be able to roll it into the loan." So I may not have to pay anything.

I had to remind them if they meant anything more than the $400.00 was already paid by me. So I got a call back and was told "Well, great news! It will only cost you an additional $300.00 at closing." I was like "Well, that's better than $735.00," though I was not real happy. Then I got a call back about 15 minutes later and was told "Oops, we made a mistake. It will cost you $735.00 more." I was like "Wow, sounds a bit fishy here." I was told they had contacted the previous lender and had the payoff and also that I had over $2000.00 in an escrow account and that my monthly payment might change again from the quoted amount because it is common practice for mortgage companies to apply this amount against payoff instead of refunding it to the consumer.

So several days went by, and I was contacted, care of MY QL, for all the paperwork and got a notice that the loan was approved and to look over the final paperwork. I scanned the loan and now see that I need to bring $2300.00 at closing. I called them and questioned this $2300.00, since I had already been informed it was $735.00 . I was told that's to cover my taxes that are due. It was suggested to me by Quicken to contact the previous lender and have them pay my taxes from the escrow account and that I needed to provide them proof they were paid and they would adjust the $2300.00.

I contacted the previous lender and got the taxes paid. I also questioned them about what they do with the escrow account. They said they return it to the consumer unless the new finance company requests otherwise. I said ok. I provided proof of the taxes being paid to Quicken and was now told I only needed to bring $200.00 to closing and that a closing agent would contact me to make the arrangements.

I got a call and was told we needed to wait a month to close, because FHA prepays their interest in advance and it would cost me $735.00 at closing if we close now. I said, "Ok, so you want me to make a full payment which is more than this amount? That's silly." She said, "Ok, let me plug in the figures and see what you will have to pay to close now." Then she said, "Oops, it does benefit you to close now. It will cost you $507.00 to close now." I said ok. So that means $400.00 at the beginning and $507.00 now--a total of $907.00 for a "no cost" streamline refinance. So we close and was told I have 3 days to walk away from the loan, no questions asked.

5 days later, I got a phone call from Quicken which told me I needed to pay them $1900.00 more because I called and had the previous lender pay the taxes and it affected the final payoff by that amount. I said, "For one thing, you told me to have them pay the taxes; and for a second thing, you gave me the payoff separate from the amount in escrow. Plus on your contract, it shows payoff; and I have a loan balance amount from my mortgage statement. And I had started a streamline with the previous lender but backed out when they started to change amounts needed at closing and how unprofessional they were. The payoff I received from the previous lender had the escrow on a different line. It is only $75.00, different than your payoff amount. Plus I made 2 more payments after these payoffs were given. So if I had over $2000 in escrow, how could this amount to $1900.00? Did they used that figure in their payoff quote to you? Plus if you look at the contract I signed and the new amount, it only adds up to about $900 difference. What's going on here?"

I was informed the math is pretty complex and that I just was not understanding it. And they assured me they were right, and I had no choice. I called several times questioning it and was finally told "Well, we made a mistake not getting a final payoff before the closing, so for this, we will allow you 6 months to pay it off interest-free." I was like "Wow, I guess I have no choice."

I think it's weird how you waited until the grace period was over to inform me. It sounds fishy. I was told "Well, the first payment will be due April 1." I had not received anything from Quicken about this due payment, so I was waiting. Then last week, I got a check in the mail from the previous lender for the balance left over from the escrow account after the taxes were paid. I called them and questioned this check. I said I was told from Quicken that it was applied against the mortgage payoff and I wanted to know why I was getting a check. I was informed for the second time that it is not now nor has it ever been their policy to apply it against payoff. I told them Quicken said they paid off the loan and that I was told it was $1900.00 short, so they had to send a 2nd payment. I was told that Quicken obtained the payoff amount 4 separate times and that it fluctuated $95.00 total from the first one to the last one.

Quicken made 1 payment. The escrow was never quoted in payoff. I contacted Quicken loans and asked for an explanation, and I was told "Well, the previous lender is wrong, and they put it in the payoff." I again said, "That's fine, but the math still doesn't add up." I have several problems here. For one, I was told by a Quicken agent the monthly payment could change if the escrow is used against the payoff they received. He quoted me the payoff and told me how much was in escrow. They told me to contact the lender and have them pay my due taxes. So do the math. $400.00 good faith, $507.00 at closing, and $1900.00 more due. That's $2807.00. So I'm being told this was for the taxes they paid--approximately $1900.00 plus the interest to pay off the loan early plus 6 months cushion on taxes and homeowner's insurance.

You know, being in business myself, when I make a mistake, I man up and take the loss. They were saying "We screwed up. Sorry, but you have to pay, no matter what. You can't cancel the loan and surely you are not going to default on it, so pay it, kiss my rear end, and have a nice day." Here is what I think happened. Their agent informed me to check with the previous lender, and I confirmed the escrow was not quoted in payoff and it would be returned to me. Well, they made good. They paid the taxes as I requested and returned the unused portion to me.

I feel in the background, they were fudging the paperwork to hide the fact they were taking the escrow amount and thought I was going to pay the taxes at closing. The funny part is when they told me I had to pay these taxes at closing, they also informed me that I would be getting the escrow refunded to me anyway and would be getting my money back once I got the escrow balance refund check from the previous lender. So pay now but get that refunded in a month. So what or who am I to believe here? I have no confidence in them whatsoever and feel this is negligent on all levels. How can you treat clients this way?

So they called last night and assured me I should be getting a payment slip for the $1900.00 any day now and that they would extend it to 10 months to pay off. So it was due on April 1? They need to man up and make this right. Is this common practice?

We applied in August 2011 for a "Rate Drop Advantage" on our VA 5 year ARM with Quicken Loans. The refinance was an option we were informed of when we closed with Quicken Loans in December 2010. Our appraised home value and square footage then was $315,000 and 1525 square feet. We were informed by Ryan ** that this was a streamlined process and we would benefit if we locked in the low interest rate with a $400 good faith deposit. Quicken Loans sent out their appraiser. The appraiser dropped our home's value to $279,000. His erroneous measurements also reduced our net livable area by 256 square feet. We requested the return of our deposit because of this flawed and factual error. Mr. ** did not want to give up our deposit and instead he wanted to request a "value appeal", but the appraiser refused to edit his appraisal report.

When we again asked for our deposit back, Mr. ** told us that he would request an appraisal exemption and ask to have a second appraisal performed on our home. A week went by and Mr. ** had not contacted us, so we called him. He told us that a second appraisal can't be done, but we can still close the loan if we bring $5,200 to closing. He asked us if we were uncomfortable with that amount. We told him that he was correct. He denied our loan. We filed a complaint with the Eastern Michigan BBB about this. Since October 2011, we have been sending messages back and forth with Quicken Loans through them. The BBB did nothing to assist us. The last message (4/10/12) from Quicken stated, "Please see our previous responses. -Jeff **." Our response back on 4/11/12 was, "Please see my previous responses to Quicken Loans. How many times does this go back and forth? Quicken Loans bilks consumers and should be held accountable. Is anybody reading this?"

Shortly after sending that, I received an email from the BBB. Their response, "Although you have not expressed satisfaction in the resolution of the complaint, the Bureau has decided to close the complaint and not pursue it further." After all of this, I found out that companies that pay a membership to the BBB usually receive A+ ratings from them and receive favor from the BBB. Guess the next step is the Federal Trade Commission.

Quicken Loan took my $500 good faith deposit money. I have done my part, providing all necessary docs. Quicken Loan then failed to proceed with the loan. They put my loan into suspension then archived the whole loan. Beware of any company that asks for money upfront. I have excellent credit. Lesson learned. I will not waste any more time with this company. I will not buy or do any business with Quicken Loan anymore. The company is a total fraud in a grand scale.

I went to Quicken Loans because I have used Quicken for my banking for 25 years. I went to them for the name. That was the only reason I paid the good-faith deposit of $500. I could kick myself. I would have never agreed if it wasn't for the Quicken name. It was too late when I figured out their deal was spelled out so carefully to sound fair and reasonable that it was a price gouging rip-off! It's clear they make their money two ways: over priced loans or the $500 "good-faith" deposit they collect in case you figure out they are scum bag rip-offs. Do not use these people. Don't make the mistake I made. Shop around. If they have a good deal, they don't need a deposit from you! Because they call themselves Quicken means nothing!

It appears that Quicken Loans routinely sabotages loan rates for refinances by acquiring extremely low appraisals. This happened to us a few years ago and we just fell for it again! The appraisal we just got is $120K lower than our town's tax assessment! That's unheard of, literally 1/3 the value of the property. I would strongly urge everyone to stay away from these crooks. We've now lost the $300 upfront fee for this so-called appraisal. Beware!

Refinancing a home loan: Quicken keeps contacting me after I have told them the financing proposal they gave me was higher than I received from someone else. So I want them to quit calling me. When Quicken does call, they are very unpleasant.

I was in process of a refinance with Quicken and paid the upfront fees for appraisal, etc. When the appraisal was done, the appraiser used two foreclosures as comps when real sales occurred in the same area and actually closer to my location and closer to the style, condition and age of my home. The foreclosures of course pulled the value of my home down substantially. The appraisal came in at a value of nearly 20% lower than the house appraised at three years ago. Needless to say, I was very frustrated and had to forget working with Quicken on the refinance. I contacted another mortgage company in my local area who actually gave me more information than Quicken as to what was available, so I started the process again. I paid the application fee along with appraisal fee to see what I could do.

This appraisal came in at a value $15,000 higher than the Quicken appraisal. I proceeded to move forward with this refinance until a few days before we were scheduled to close. At that time, I found out that Quicken had filed the prior appraisal nearly 70 days after it was done. Evidently, they had some notification that a new appraisal had been performed on the same property and filed the prior as a vindictive act to keep my refinance from being completed. They were very unprofessional and evidently care only about their own profits and nothing about the consumers who actually provide those profits. I must now wait 6 months before the bogus appraisal can be overridden and before my refinance can be completed. I feel this was a blatant attempt to damage me and to damage my financial condition.

We heard good things in the past about Quicken Loans. We decided to apply for a refinance. We were contacted by Ron. He assured us he could help us with our request to lower our interest rate and payments. He said we were approved for the loan from FHA and all he needed was $400 to "lock-in" the interest rate and then from that time we were guaranteed it would be within 45 days until closing. He advised that upon closing, our $400 would be credited back to us. So we did that. He then turned everything over Josh.

They sent an appraiser and when the appraisal came back, it was extremely low. He said it was due to the properties sold in our area. Our neighbor's home was one of them. It was inherited and one bought the other out, so the sale was for 50% of the property value. Our home is larger and we have more land. The other home that was used has three less rooms, one less bathroom and no garage. We have a two-car garage. Nice, huh?

Josh called today and advised because the appraisal came in so low, FHA is requiring us to pay a minimum of $8000 down. And if we did not pay it, they could not help us with the loan. We asked to have our money returned and he said it was non-refundable and the money was used to cover the cost of the appraisal. After completing some research, we have been assured that Quicken Loans is out to collect as much money as they can from the public. They have no intention of giving anybody any loans. After reading all the above complaints, which there are many, we have realized we are not the only victims. Buyer, beware of Quicken Loans! They make promises they do not keep and can not deliver. We are now in the process of contacting the Federal Trade Commission, our state's Consumer Affairs Protection Agency, our state's attorney general, our state's senator and everyone else we can find to hear us or help us in this situation.

All of these other complaints have a ring of sad familiarity. My husband and I wanted to refi to a lower rate and consolidate our first and second mortgage. We had a good amount of equity and a good credit rating. We thought it would just be easier/cheaper to refinance at this point. After receiving so many "come on" letters from various mortgage/refinance organizations and checking with our local BBB, we decided to go with Quicken. Our BBB didn't really have any complaints listed about Quicken.

These Quicken runaround tactics all sound the same, however, our sadistic torturers were named Colin, Megan and Craig. I know the job market is tough right now, but this is ridiculous. It's unfortunate that these people, whatever their names are, find it necessary to stoop this low to work for Quicken to earn a living. We began working with Quicken last November, It's now the end of March. We aren't any closer to finishing this thing than we were on day 1. These people feed off our hopes and dreams to keep stringing us along. I honestly do not know how they can sleep at night. Sign us up if there's ever a class action suit.

I went for a refinance and started getting the runaround immediately. You can read all the other negative stories - they are true. What I need to get across is what you have to do if you find yourself in the Quicken Scam: Contact the Federal Trade Commission. Call them at **. File a complaint immediately. They were professional, quick, confidential and totally understood what was going on. They told me the laws/acts Quicken was breaking, and made me feel much better like someone was actually on my side. Additionally, you must contact your State Consumer Affairs Protection agency for Mortgage Fraud. This may also be your State Attorney General. They are also very helpful. Then, contact your credit card company and file a dispute against the charge. You might be able to get that money back. Don't let up on your credit card company. Tell them that you've find several federal complaints against Quicken and they may be more cooperative. Best luck!

Misrepresentation by Quicken Loans: I applied for a refinance and was told it was a no-cost loan and that in order to proceed for loan approval, I had to give them $500 and that if for any reason the loan did not close, they would refund the money. I explained to them that the values in my neighborhood were about $420 to $435, and the loan officer Brian ** told me that getting to a good number so you can get the loan would not be a problem. The appraisal came in $396, and in review of the appraisal report, they have houses listed that were not sold as they indicated and one of them has not been sold for over 10 years.

Then, I received a call from a specialist and was told that the appraisal came in low and that if I would put cash in and now pay fees and possible points, they could maybe help me out. When I asked about the refund, I was told that because I did not want their option, then they would keep the $500 for all the trouble they went through to try and get me a loan.

When the documents were signed and reviewed online, it was a rush because the loan officer would always call. At times, I told them I was busy; and he would keep saying that he had to rush this in order to keep my rate locked in. Earlier today, he called me with the idea that he would make me a loan and pay off part of the 1st mortgage and I would pay the rest of that monthly and then keep the 2nd mortgage. I asked him why I would do that, and his reply was "It is your only option." And that was never part of any discussion I had regarding the refinance.

I start the refinance process with this company. Basic info to start a loan: the customer can pay the loan! Simple! After paying $400 and all the paper work, the loan was rejected due to debt/income ratio. Are you freakin' serious! Don't do business with company, they are terrible! If you are a serious loan company, you don't start a loan unless you are sure that the customer qualifies and can pay the loan back. My personal opinion? I think they got a bunch of monkeys working there! I click the attorney button, but I'm pretty sure I don't have case.