Quicken Loans Mortgage Complaint

Quicken Loans Mortgage department,

Conventional fixed mortgage Application, originator, mortgage broker Pennsylvania

I recently received an unsolicited letter from Quicken Loans notifying me that I was prequalified '' for a $99000.00 15-year loan to refinance my current mortgage ( actually a HELOC ) at a rate of 3.125 %. I called Quicken and asked how it was determined that I was prequalified, and the representative I spoke to said she did not know. When I gave her preliminary financial information, she said I was not eligible for that product '' but was a good candidate for a 30-year loan at a rate over 4 %. I agreed to apply and authorized a $100.00 charge on my credit card for a deposit on an appraisal. As I hacked my way through the insanely detailed application process, Quicken updated me,


me to schedule an appraisal, I informed him that I had withdrawn the application. However, Quicken charged my credit card $390.00 for the appraisal. A customer relations '' person at Quicken told me, after I withdrew the application, that he would look into the appraisal charge. But I have not received a credit. It seems that, after doing a bait-and-switch marketing ploy, QL hounds people to apply for loans on less generous terms. It does not inform applicants that they must close out current debts to meet - and - standards, since that would defeat the whole purpose of refinancing. ( This may be beside the point, but my credit card debt is not large or suspicious. - of the cards is at zero percent interest, so I have no incentive to pay it off ; the other I pay in full every month, as I have for 20 years. My quarrel here is probably not with Quicken but with - and -. ) Most important - and this is a separate problem that 's flat-out illegal - QL levies unauthorized charges for appraisals not performed.