Quicken Loans Mortgage Complaint

Quicken Loans Mortgage department,

Conventional fixed mortgage Application, originator, mortgage broker Washington

This may or may not be the right place for this complaint, but let 's give it a go. I placed my home up for sale. A buyer financing through Quicken Loans was interested, we agreed at a price and the process was on. Inspection went fine, - appraisals were required due to selling price. The first appraisal came in at selling price. The second appraisal was " cancelled '' after it was made ( we believe that it matched the previous assessment ) and a - appraisal was requested by Quicken Loans, less than 2 weeks to closing date. The - appraisal came less then the selling price, and that 's just what Quicken Loans wanted. To me, it seems like Quicken Loans is forcing the seller 's price down as to minimize their " risk ''. The buyer is a physician, with real estate assets out of state, and a solid financial background. Both seller and buyer were packed, had made financial commitments, and then this. The net was a loss of $50000.00 to the seller from the agreed price, and additional funds added to the down payment by the seller. Quicken Loans tactics are unethical, in my humble opinion. As a result of this transaction, I personally warned every person I know, whether a seller or a real estate sales person, to decline any offer that will be financed by Quicken Loans. Needless to say, the real estate agents involved, are doing the same. Maybe the the Feds can look into Quicken Loans 's practices.