Quicken Loans Mortgage Complaint

FHA mortgage Settlement process and costs

Quicken Loans Mortgage department,

FHA mortgage Settlement process and costs Missouri

Quicken Loans lifted the finance contingency on a home purchase, later reniging on the financing stating that debt to income ratio was an issue because of the potential monthly payment for student loans. Quicken Loans stated that I would need a consigner or to pay off my car loan at $12000.00. All debt obligations were visable and known at the pre approval stage prior to underwriting the loan. Due to the finance contingency being lifted Quicken Loans states that I stated that my student loans were in deferment while they were in forbearance. This is absolutely untrue, again all debt obligations were visable in the credit report. I was a recent college graduate as of -/-/- this loan process began -/-/-, repayment for my student loans would not be requested until -/-/-, in which at that time a deferment could be requested. The home being purchased was a to be built with construction complete -/-/-. Quicken Loans has caused me embarrassment, emotional distress, and cost me $540.00, as I lost half of my $1000.00 in earnest money and about - % of the $400.00 in good faith provided to Quicken Loans.

Quicken Loans customer in Missouri
Nov 18, 2015

* Source: CFPB Complaint Database

Quicken Loans response to complaint:
Closed with explanation

Consumer disputes how Quicken Loans handled their complaint

Created with Highcharts 4.2.3Quicken LoansComplaint HistoryComplaints2/20124/20125/20126/20128/201210/201211/201212/20121/20132/20134/20135/20136/20137/20138/20139/201310/201311/20131/20142/20143/20144/20145/20146/20147/20148/20149/201411/201412/20141/20152/20153/20154/20155/20156/20157/20158/20159/201510/201511/20152/20163/20164/20166/201602468Source: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3Quicken LoansSettlement process and costs2.2%90.3%2.2%4.3%1.1%ClosedClosed with explanationClosed with monetary reliefClosed without reliefIn progressSource: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3National AverageSettlement process and costs0.4%6.3%5.3%1.1%2.8%6.4%76.1%1.5%Untimely responseClosed with non-monetary reliefClosed without reliefClosed with reliefClosedClosed with monetary reliefClosed with explanationIn progressSource: Consumer Financial Protection Bureau

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