Quicken Loans

Well first these are the most unprofessional company I have ever had dealing with. They continued to call me even after I reviewed that I would need to call them as I had a death in the family. They would not quit calling me. Then they handed it to a new person that was "more qualified". Then he called continues. I final had time to get back with them after the funeral.
Then they presented me with numbers that were truly would provide me with a comfortable situation making my home payment each month. I reviewed the appraisal I had 3 years ago and was told it was too out dated and that I would need t0 have one of their certified FHA appraisers to do a new one. Since that appraisal I had added a 16 x 14 sunroom on the back of the home. I final ok'd and paid them money as a good faith down payment to do business and would get the full amount back at closing. The documents they needed kept changing and adding more. We finally got to the point where we could do the appraisal. Then is seems the process stalled. We finally were contact by an appraiser and made an appointment. The appraiser came and my wife called me afterward. She stated he walked in and walked upstairs and walked down stairs and left. He was at our house 10-12 minutes. This concerned both of us. I then waited a couple of days and spoke to Mark the representative for Quicken who stated that the appraisal came in and it was 20, 000 under the appraisal from 3 years earlier. Since that prior appraisal we had added a sunroom and tile and heated floors through the house. He stated he would send me a copy of the appraisal. After a week we final received the appraisal. The appraisal had several errors in it and I called and typed up an email to mark as he requested and asked for another appraisal because of the obvious lack of accuracy and the 12 errors in the appraisal. Too many to note is the writing. The reply I received was that the errors would not affect the appraisal value. So a house that was appraised for 3 bedrooms and 7 rooms that actually have 4 bedrooms and 8 rooms on the main floor the value would not change. I was told no….? I was confused; I requested again for a second opinion and was denied. Even when I pointed out that they had used my own house as a comparison and valued it 30, 000 more than what he had stated mine was worth. Then I pointed out one of the comparison was smaller than my house and 1 less room that sold more than $30, 000 then they are saying mine is worth. I was ignored! Then I was talked to like I was an idiot and didn’t understand what I was looking at. Unfortunately I had reviewed this info with a mortgage broker and he agreed with me that the appraiser did not make a fair and accurate evaluation of my property. All yea my money was used for the appraisal and they will not be returning anything to me. That was one expensive appraisal!
So my recommendation, Quicken is after your money and not customer service. I did forget to say the numbers had changed through the process also “due to market issues”. All this time I thought I had a locked rate….. Hmmm-- STAY FAR AWAY FROM THIS COMPANY!

On November 4th, 2009 I entered into a refinance contract with Quicken Loans. At that time I was given a Rate Lock Agreement with a Derrick Eppich Lender Representative at 16245 North Pima Rd., Building “A” Scottsdale, AZ 85260 on one loan document and 20555 Victor Pkwy, Livonia, MI 48152 on another loan document. I filed with them the following required documents:
Most recent pay stub(s) reflecting a minimum of 30 days year-to-date earnings
All W-2 forms from 2007 and 2008
Statement showing the judgment and/or tax lien had been paid in full
Documentation for 2nd job income (I am a member of the Army Reserves)
Signed request for transcript of Tax Return (Form 4506-T) for 1040S
Information regarding appraisal (I had had an appraisal done on May 29th, 2009 and was informed that I could use this appraisal for the loan) at that time my home appraised for $125, 000 and I was told this appraisal would be the used for the loan since it was a FHA approved appraisal.
Credit Inquiry Explanation Letter
All documents were submitted in a timely matter. At that time I informed them we had not filed our 2008 taxes yet and had an extension approved by the IRS. I was told the extension papers were good enough to cover the 2008 tax request.
I was given an Interest Rate Lock Agreement of a 4.5% interest rate, loan discount fee of .625%. My loan amount was to be $120, 472 (payoff amount of $101, 061 and $13, 843 for second mortgage payoff, $2, 867 closing fees, $2, 943 prepaid items/escrows/MIP [?]). It was o be a FHA 15yr fixed. And I was to receive $157.10 at closing. I was then requested to give them a $400 deposit for appraisal (I was told this deposit was be refunded to me on closing because I had supplied my own FHA appraisal) I empathically told them I did not have the required deposit (I did get a loan for the amount). I was told this would take approximately 3 weeks to prepare the paperwork for signing. After a week I was told Derrick no longer worked for the company and my loan was transferred to Ms. Tynina Washington, Sr. Client Care Specialist. I was then sent the following email 4 Dec from Ms. Washington: Hi Douglas, per our conversations, this is what is needed to complete the loan process.1. Please provide name, phone number and policy number for your insurance 2. Please provide all pages of your personal tax returns. Thanks Ty. I provided the information requested emphasizing the fact that my 2008 taxes were still be prepared and was again told not to worry about it since I had an IRS extension in place. I then received a call from Ms. Washington informing me that the extension from the IRS was no longer acceptable and that I had to get them the returns for 2008. Since they were still in the process of being complied by my ex-wife’s account (because she is a small business owner, I had to wait until her corporation and business taxes were completed in order to finish my personal taxes). I finally got them finished and had the return faxed from the accountants directly to Ms. Washington. I was told that this was all that was needed and that I would be contacted within the week to arrange for my closing documents to be signed. 2 days later I received another call from Ms. Washington that my tax forms were not acceptable because it did not have an IRS stamp confirming they were filed with the IRS. I was also told at that time that my appraisal was also no longer valid and that I had to get another appraisal done. I was very concerned at this time that my lock in date was approaching (Dec 21) and I did not think I could get the required paperwork to them. I was informed by Ms. Washington that I did not have to worry because I was working on them and that my locks in rate and loan specifics were extended since they knew I was working on them. I once again told them I was not comfortable having to pay for another appraisal since I did not have available funds to do so. I was also concerned that I might not get the loan and was assured that the appraisal was just a formality and I need not worry. I got them the IRS stamped return and arranged for another appraisal. I then had to contact Ms. Washington that I had not been contacted by their appraiser and asked for her help. On Dec 17th I was finally able to arrange an appraisal after trying for 2 weeks to get them to come out. So on the 22nd of December some person named Andy calls and asks me where I came up with the $125, 000 figure for my property and I inform him about the appraisal I sent to them and is in my loan package. He states he has never seen it in my loan package and I then ask what happened to my loan specialist (Ms. Washington) and I am informed the loan has been turned over to him and I would need to deal with him to close my loan. So their appraisal comes back at $112, 000, $13, 000 less than the appraisal I started with. Now this Andy states I need to came up with $5, 000 in order to get my loan approved. Now today (23 Dec, 09) I heard a report when they were interviewing the Secretary of the Treasury that housing prices were up 2.3%. So somehow my house lost over 10% of its value from November to December. And now they justify keeping all the fees they charged knowing I cannot come up with $5, 000 to complete the loan process. So now I can’t even apply for another loan because their appraisal makes it impossible for me to even qualify. I feel every time I met their requirements they changed them so they could delay the process and force me to get another appraisal devaluing my property and thereby placing a $5, 000 requirement to get it and meet the requirements. But all they did was make it impossible for me to complete the transaction.
On December 23, 2009 I discovered on the website consumeraffairs.com and the Better Business Bureau where hundreds of complaints just like mine have been posted against Quicken Loans for the same underhanded practices.

Quicken will take your initial call in less than 30 seconds...after that, the further you are in the process, the longer the wait. It can go as long as 30 minutes if you have to talk with 2 people. I initiated contact with them and set up our account. However, they denied I existed and set-up the account only in my husband's name. The weird thing is is that I am a partner with my husband. We do loans toagether and continued to ok paperwork and review loan terms together. They talked to me on loan questions and I ok'd loan documents after reviewing them with my husband. After my computer had been compromised by Asians who took it over, I redid all passwords and couldn't remember the new one assigne to what I thought was my husband's and my account. They refused me access. I had worked 20 years full-time and the last 7 part-time, so my income wasn't going to be included for the loan. THEY CHOSE TO ON THEIR OWN WITHOUT ASKING US TO LOCK ME OUT OF THE TRANSACTION! The funny thing is that they claimed to provide better and personal customer service because they originate their own loans. Boy, what a line! I know we are a suspcious couple, we have been happily married for over 26 years--who does that any more! So, after security, who still refuses to talk to me, recorded my husband saying that it is ok to mention the loan to me, I could once again be involved. Our idea was that he works 60 plus hours per week and didn't have time for all the little things underwriters are known to ask for. I was to manage that and had been quite successfully. Then came the fun part. They took our $500 deposit to insure "our good faith". Boy, is that ever reveling! I decided because of the fee to not go with them. However, about 5 weeks later when the called, I decided we should since our mortgage broker hadn't yet finalized the deal. I regret this as he always was honest about where things were. They again demanded $500. They said that my mortgage broker was trying to rip me off with his extra fees. Fees that they would never charge me and that they could close the deal with 60 to 75 days. So, here we are at nearly 90 days. No loan yet. First, they called demanding $2500. I told them they would have to fork over some of that as that was higher than we had talked about--I went over the paperwork from the mortgage broker and they had claimed lower and implied under $2, 000. So, my original sales rep in wiriting in an email said that it would be lower than that. Then, they (Peter Ross)called and said that they had all of their information and that it would be between $1500 and $1700. Actually, at first he didn't even remember why he had called me because they are working so many deals at once. Then, he finally got our (I guess my husband's account) up on the computer. Three days later, they call up with a brand new bubbly flunky demanding that I prove we have $4800 available at close! This woman kept me on hold 10 minutes because after initially contacting me she realized I was not my husband and refused to tell me why she was calling even after I had been cleared weeks ago as having an IQ worthy of Quicken loans. So, I refused to talk further with her and asked for Peter. I hung up after being on hold for 10 minutes (there endless prattle about their greatness and services gets boring pretty fast.). She called me back and put me back on hold for 7 minutes. I finally got Peter and he was so jolly as he told me that interest rates had gone up. (I see from other complaints that this is a common tactic of theirs, to jack up the out-of-pocket costs last minute--maybe this is what pays for the stadium naming fees they incurred?) I told him that you don't triple closing costs in 3 days and that they could have locked the rate---later someone in president's office implied that they never lock the rate. Why not? Why does this make for great customer service? I wonder if the president's office really has anything to do with any president of any company as all they want to do is tell you how you are wrong and they are right. I was not allowed to talk with the president. I think this is also a scam just read other complaints.

Push sales people convince you into something after you say no, the costs are too high essentially insuring that the loan is an excellent idea and you would be crazy not to do it. He also claimed to have checked county housing trends and comparables to be able to assure me that we had plenty of equity to do it. The deposit is not disclosed until you agree to do the loan and it is "a commitment to do business" and "will be refunded at closing". He neglected to state that if the appraisal (which was not supposed to be a problem) did not come in high enough we would lose the deposit. He also neglected to say that 2 appraisals would be required. Turns out the second appraisal was too low and we lost nearly $500 (a small amount was refunded as he did not tell us upfront about the 2nd appraisal). Overall, had he provided honest, complete information up front, I would never have started the process and would have saved a lot of money and headaches. Unfortunately, it appears that they provide incomplete and inaccurate information to get people to agree, even on loans that may not go through as with the deposit, even though some will not they are not out that much money and they make money on each one that squeeks through. I would stay as far away from this company as possible.

Well, we bit on it. Quicken Loans has a beautiful website and I suppose it's designed to elicit trust. And I read what other people said, that they ask you for fees and never give the money back, and want your credit card number. With all the scams in mortgage lending, I thought that maybe these mortgage companies learned their lesson and now they were restructured.

We spent about 25 minutes discussing a new home loan, and the agent gave us this spiel that he was going to hook us up with their realtor, and bank, and we were going to get a house and they were going to do the mortgage.
Then he asked us for our credit card number and he wanted $600 just to secure the loan, sort of a good faith thing. It's a scam. Then we got an email that said unfortunately they couldn't give us a loan, (we qualified with a major bank as well), and their Fresh Start Credit Repair company would help us out...of some more money I suppose.
Anyway, that's what happens if you try to negotiate a loan with Quicken.

I was mislead about the price of closing...I should say LIED to. They STOLE 500.00 from me. I did not give them permission to take money from my credit card after being told that they only need the credit card on file to send any documents up to the underwriter. Cut and dry...lies from the company about EVERYTHING. Dont trust this company. IT IS FRAUD! Thank GOD I did not sign any documents with them. I dont know what I would have done after being ripped off even more. I feel ashamed I did not go online to check this company out thoro. The things that you are reading are from people who are upset but they are being honest and are tired becuase of this company and trying to get their money back. Please believe them. They are honest.

I had begun the mortgage process with Quicken Loans in May of 2008. After I had begun the application process my credit card was charged $500 without my consent. When I called Quicken Loans about this they mentioned that it was simply a deposit and that it would be applied to the closing costs of the home. This sounded legitimate so I allowed them to continue with the process. Everything was going fine until 2 days prior to inspection my loan officer mentioned that the appraiser classified the townhome I was purchasing as a condominium. This would result in a down payment of 10% rather than the original 5% agreement. I inquired with numerous individuals including my realtor, home inspector and other loan officers and none had ever heard of such a practice. My loan officer said the company made an "acception" in their favor because we must pay association dues every month to cover the cost of the pools, tennis courts and other facilities. He insisted that if I were to go with another mortgage company I would run into the same problem. After this problem had been passed to his superior without change, we decided to go with a mortgage company recommended by our realtor. Within one day our mortgage application was processed, we were given a rate that was .25% lower than Quicken's and without any points, and our estimated closing costs were $6, 000 less when compared with Quicken's costs. (I won’t mention the name of the company but it rhymes with Untree Wide) I later received a phone call from another superior at Quicken Loans. He inquired to the situation and I mentioned how we were now with another company. I mentioned of the better rates and lower closing costs and why theirs were so high. He asked me if they provided me with better offers that would beat my new company and took away their "acception" of a 10% down payment, would I stay with them. At this point I asked for my $500 deposit back since Quicken was no longer going to be processing the loan / mortgage. He disagreed to the refund and did not give a reason. My suggestion... find another lender.

I was approached by Quicken to "consolidate because there are some great loan options available to me" I was going to consolidate a home mortgage and a 2nd mortgage to save money each month and to avoid a 15 year ballooning of the 2nd mortgage-who wouldn't? All it would cost me was a 500.00 appraisal fee that would be "fully refunded" at closing. Well, my appraisal came in lower than expected, and the company said they would order a 2nd one"no charge to me but I would not get my refundable 500.00." I waited, did my best to stay calm and tactful in my communications and requests to the person I dealt with. Only to find out the 2nd appraisal was higher but still not high enough to complete the loan process. Of course they have you sign a sheet in regard to the 500.00. It is entitled a "non-refundable fee." Before signing I contacted the broker who said to ignore that, quicken just does that for their clients and it also says that if loan is not completed no refund on the 500.00.gotcha!~jerksNow I am screwed!

I have worked at Quicken Loans for a number of years. This is the absolute worst company I have worked for in my entire career. The joke amongst the present staff is 'How the hell does Quicken obtain the standards they tout as being the 'Best Place to Work For?' This is a total lie and obviously due to the fact that they must be canvassing their new hires who have chosen to drink the Kool Aid because none of us long timers who were chosen for these surveys gave very good ratings at all. However, if you have the buckage, as Dan apparently does, I suppose you can pull anything off. Let's face it, money can buy you anything, including a false reputation and false positive press. An example could be the fact that the firing of David Hall was one of the biggest coverups of all. This place is the biggest farce ever. When I first walked in the doors I felt bad Karma and should have gone with my gut instinct and fled the scene. However, since I was unemployed for several months and happy to just have a job with benefits, I foolishly stayed with this group of ###.

I have been collecting information since day one due to my feelings at the time. I have printed out and retained a complete file of some of the unbelievable communications that have taken place. Primarily to cover my ### should they decide to give me an involuntary separation and try to block my unemployment. I have also personally witnessed some of the most unprofessional behavior I have ever seen in my very long and diverse work history. This place is appalling.

Since the mortgage industry took a crap, it is worse than ever. The leadership seems to spend most of its time looking for/creating reasons to get rid of its loyal, long-term employees in a way so that they are not able to collect unemployment. This company even has hired a firm in Novi that does nothing but fight individual unemployment claims. I must say though, that most of those I know who have fought them have ended up with their unemployment eventually. Yes! I really don't know how they survived in the interim. Not to mention the class action lawsuits currently in place to regain lost wages for those forced to work the ungodly hours without overtime pay.

Oh yeah, as for the leadership, what a damn joke! These people are kids with little, if any, experience in the real world. They have nothing else to compare to really. This is the only little world they know and they have foolishly bought into all the hype and BS. They will have an extremely hard time working in any other professional environment as they have no clue as to how/what a professional is. Their egos have been pumped up by being given these incredible and misleading titles and really think they are the cats ###. Well, the ### part is right at least. This place is totally all about nepotism and croniism. It's disgusting. Oh yeah, and they have little training groups that they call 'Flight' Training where they break boards and get awards. Kid games.

There is hardly anyone left that started working here with me. Most have been let go on the famous 'trumped up' charges they manufacture. People here are not treated like human beings at all. Most refer to it as the mortgage factory.

As the economy takes a ###, things only get worse. Bonuses, which is pretty much what has kept most of us going, have now gone by the wayside or have been so reduced it's impossible to really stay here. They are clueless as to how many loyal, long-term employees are looking to get out. Loyalty doesn't mean much here. They think they are the only game in town and to those mindless enough to believe them, they have them by the balls.

There is currently an attitude because no one can afford to give to their causes. They have all these fund raisers for one of the employees who passed some time ago. Well, let's face reality. With the cost of gas, the lack of pay and the way they treat everyone, it is not even an option for most of us to be charitable right now. Yet, the emails from leadership continue attempting to badger us into giving what we do not have to give. The current deal is they have a 'special' event every other Friday for the next several weeks. The first one allowed you to wear flip flops for the price of $5. The last one allowed you to wear a sports jersey for the price of $5. Well, apparently, the involvement is falling far short of their expectations as is evident in the tone of the emails leadership sends out.

I am sick and tired of seeing people come in and out of the various DVP's offices crying because of the ### they are pulling.

Oh yeah, another 'new' policy is that you must have 8 hours of sick time banked or you get written up. Even if you have 8 hours and need to take 8 hours you are forced to use vacation time. Why, because they don't have to pay out your sick time if you get fired or quit but they do have to pay your vacation time. Is this even legal? I'm sure it somehow must be because Dan certainly has a growing legal department.

This is the most evil and unscrupulous company I have ever seen. Please think a good thought for me as I am attempting to get the hell out ASAP. At this point I am pretty much willing to give up benefits and work two or three part time jobs if need be. That is truly how bad it has become.

Lastly, let's touch on the 'ISMS'. These are foolish little sayings that they want you to embrace and expound in your daily conversations/life. A few examples are:

Do the Right Thing? Really, I don't see this happening at all. They really need to get with this one because everything they are doing in their treatment of their employees is far removed from this ideal.

A penny is just a penny? Give me a break. You can be damned sure that Dan is counting all of his. Guess he forgot where he started and what enabled him to buy the Cavs, Fathead, Eprize etc. Guess once you get there you forget those who aided in your cause by giving up their lives and relationships in many cases.

These are just a couple that kill me. There are more.

And, little groups of leadership get to go to Bill Emerson's house to present their ideas for new ISMS and they are thrilled to death and feel so embraced. Wow! I laugh.

When I started working at Quicken, you were fed breakfast, lunch and dinner. Money flowed. Overtime was unlimited. Perks were incredible. Now, not so much. You can't even get plates, cups or silverware in our kitchens many days. No more ticket window Thursdays. No more trips to tropical locations. No more spring and fall barbecues. No more overtime. No more bonuses. No more trips to see the Cavs play in Cleveland. They give nothing but want so much in return.

You know Dan just built a new house in Franklin. But, a penny is just a penny, right. Wonder what the note on that one was. How many of you can afford to buy a house or upgrade your present home? Anyway, I've said more than enough for now. I could go on for hours but I think you all get the point. Sorry if I sound bitter :) But, working at Quicken is like smoking a joint, the harder you suck, the higher you get. Everyone else gets screwed.

Later...