Quicken Loans Mortgage Complaint

Quicken Loans Mortgage department,

Conventional fixed mortgage Credit decision / Underwriting Pennsylvania

My loan application at Quicken Loans was denied. I have great credit ( - credit score of - ), had plenty of liquid funds on hand to close on the loan, and my DTI ratio was well below the standard for sound underwriting. While I was loan shopping, I asked Quicken to provide me with a Cost Estimate so that I could do a comparison of closing costs/rates for various lenders. They had sent me a mailer that stated that if they were unable to match the lowest rate that I found, that they would give me $2500.00. When I asked for the Cost Estimate, I was told that they could n't provide me - unless they got something ( I forget what that something is, but it was captured in the chat communication ). I advised the loan officer that according to the CFPB, I only needed to provide the - key pieces of information which I had already supplied. The Loan Estimate was provided on - at - and my loan was subsequently denied at -. The reason provided for denying my loan application was " due to too many inquiries ''. However, a quick check of my credit would have revealed that the inquiries were all related to me starting the mortgage shopping process. This leads me to believe that Quicken did n't want to stand by the $2500.00 offer that they had provided in the mailer. I prefer believing in that than over the alternative, which is that I was denied the loan because of my race which is pretty obvious by my name.