Quicken Loans Mortgage Complaint

Quicken Loans Mortgage department,

VA mortgage Settlement process and costs New Jersey

On - -, 2016 I signed the contract to buy a property from -. I justifiably relied on QUICKEN LOANS representations that it would supply the - realtor with the appropriate VA Amendatory Clause and escape clause. However, QUICKEN LOANS supplied the realtor of - with a VA clause that is categorically false and without an escape clause. The QUICKEN LOANS clause includes language that is materially different than the Department of Veterans Affairs ( " VA '' ) requires, to wit in relevant part : "... UNLESS THE PURCHASER HAS BEEN GIVEN IN ACCORDANCE WITH HUD/FHA OR VA REQUIREMENTS A WRITTEN STATEMENT ISSUED BY THE FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF VETERANS AFFAIRS OR A DIRECT ENDORSEMENT LENDER, SETTING FORTH THE APPRAISED VALUE OF THE PROPERTY OF NOT LESS THAN [ the agreed upon purchase price ] ''. This language directly contradicts the language required by the VA in relevant part to wit : ".... if the contract purchase price or cost exceeds the reasonable value of the property established by the Department of Veterans Affairs. "