Quicken Loans Mortgage Complaint

FHA mortgage Application, originator, mortgage broker

Quicken Loans Mortgage department,

FHA mortgage Application, originator, mortgage broker Georgia

I applied for an FHA refi loan with Quicken Loans. They checked my credit and estimated my house value at $190000.00. The rep said I had to submit $400.00. good faith money in - hrs or the loan was null and void. I said I thought this was unusual, and that I was a - citizen and I did not have a lot of extra money. He said it was required to process my loan. I submitted the money. I was then asked for a lot of other documentation which I provided and they said was okay. Finally an appraisal was ordered. The appraisal came in $40000.00 under what I was told. I questioned the appraisal and the comps. I even had the listing agent to my home and she agreed with me. She said property taxes alone showed a difference but beyond the differences were apparent to anyone. I contacted the CEO of QL, - -, who simply forwarded my message to - - to handle, the rep who asked for the $400.00. QL then sent the appraisal back to the same appraiser and asked if it was correct. He said yes. In the interim I was contacted by - - of QL who asked me if I had $31000.00. to being to settlement. I said no, I was not giving anyone anymore money.

Quicken Loans customer in Georgia
Sep 28, 2015

* Source: CFPB Complaint Database

Quicken Loans response to complaint:
Closed with explanation

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