Review and analysis of over 130 Fha Mortgage complaints against Quicken Loans
Quicken Loans consumers have reported over 130 official complaints related to FHA mortgage. Out of the 130 consumer complaints against Quicken Loans, 22% were disputed by the consumer (i.e. the consumer was not happy with how Quicken Loans responded to their complaint) and 95% were processed in a timely manner. 4% of consumer complaints against Quicken Loans resulted in the consumer receiving monetary compensation (e.g. money, cash reimbursement, etc.) and 0% resulted in non-monetary compensation.
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Quicken Loans Mortgage application, originator, mortgage broker April 25, 2016 - On -/-/2016, I began corresponding with Quicken Loans to inquire about a home loan. We had an issue with our previous Quicken loan, but were trying to overlook it because they were easy to work throughout our initial refinance on another home. I spoke with -, who informed me that based on our situation since we were relocating across the country we would want to speak to a relocation mortgage expert. He forwarded my information to - -. - called me on -/-/- to discuss our situation and I explained to him the details of our move, etc. He sent myself and my partner a mini-a... |
Quicken Loans Mortgage settlement process and costs April 25, 2016 - -/-/2015 I contacted Quicken Loans after received an offer from them for a home loan. The offer I received was for 3.625 APR FHA 30 years. After speaking with a few folks and agreeing to our credit being pulled and putting a good faith deposit up, we began the processing of refinancing my partner 's home so that I could be included on the deed to the property and the mortgage. The mortgage broker only offered us a FHA Streamline Refinance and I asked several times if this option will ensure that the Warranty deed for the property is updated to include me name. Each time he assured me that it... |
Quicken Loans Mortgage application, originator, mortgage broker March 23, 2016 - I built my house in 1992 and refinanced a 6.78 to a 4.3 with Quicken Loans I did not take any money out just wanted to get a better interest rate. I explained that I had 10 years on my current note and did not want to do another new loan and I had a conventional. When I received my paperwork after the closing they had transferred my conventional into an FHA and I was charged with PMI ..I never had to pay PMI on my first loan and they did not appraise my home for the proper size and rooms. I was told they DO NOT consider basements as part of the home but my basement is open and has a full bath,... |
Quicken Loans Mortgage application, originator, mortgage broker March 16, 2016 - I contacted Quicken Loans on Friday -/-/16 and spoke with - to discuss refinancing my FHA mortgage. I informed - of my estimated credit score, how much the original loan was for, and how much the remaining balance was, as I wanted his honest opinion on whether or not he could help BEFORE he pulled my credit. I told him that other lenders have told me that attempting to refinance after only 6 months would not be possible. - immediately informed me that Quicken loans had very aggressive products and could do things a traditional lender could n't do. He stated that he felt sure he ... |
Quicken Loans Mortgage credit decision / underwriting March 12, 2016 - Aggressive Loan Officer ( - - ) at Quicken Loans that performed a Mortgage Review of my current homeowner 's loan that currently has a fixed rate of 4 % - FHA-30-year loan with Quicken Loans and when I informed the Loan Officer on -/-/16 that I was not interested in refinancing my home because it would not save me any money and that I would have to pay closing costs as well. The Loan Officer continued to contact me 3 additional times by e-mail on -/-/16 and mail communication on -/-/16 and now today, -/-/16. The Loan Officer as uploaded new refinance information o... |
Quicken Loans Mortgage application, originator, mortgage broker March 12, 2016 - I was inquiring about a home refinance loan and Quicken Loans. Told him that I did not want my credit pulled unless he could get me an approval. Gave him full info up front- that I was only on the job for 4 months- told him several times my score was verging on - and did not want it pulled. He said he would work with me for an approval and pulled my credit. At the end of the convo he told me that he could not get me approved because all of Quicken Loans require a 2 year job history. I have the FULL chat transcript available. I believe this was complete unethical behavior and lowered my cred... |
Quicken Loans Mortgage application, originator, mortgage broker February 11, 2016 - After being contacted with a postal mailer and e-mail, I responded to the advertisements and called to start a loan to improve my residence. I informed the person I spoke to, - -, that I needed a HUD - loan to do the improvements. Instead she put me on track for a loan where I had to make the improvements before I could close the loan. The company 's action in trying to steer me into a loan that did not meet my needs was deceptive and time consuming. It almost locked me into a loan that did no meet my needs. After I rejected the loan they were misleading me into, they posted a letter ... |
Quicken Loans Mortgage loan servicing, payments, escrow account December 9, 2015 - In -/-/- we purchased a home in - -, CA my mom and I are retired on a fix income when all things were satisfactory with Quickenloans the lender found everything satisfactory they funded. - mortgage payments later we were told that things have change our home has increase in value by - - - - each month since we signed the contract and closed, that insurance premiums have increased some as high as two hundred percent that our monthly mortgage payment will be increasing by - - dollars beginning -/-/- and they are being slow giving as an answer how they value o... |
Quicken Loans Mortgage application, originator, mortgage broker December 4, 2015 - I wish to file a complaint against Quicken Mortgage loans. I feel that there initial Mortage qualification process is unfair and inadequate when it comes to eliminating the need to unnecessarily adding a a hard inquiry to my credit report which in turn reduce my credit score by a few points. A few points in my case is a tremendous detriment that pushed me from one demographic to another financially. There are certain criteria that Quicken use that will disqualify an individual from being able to acquire a loan from quicken. In my case the criteria was that of child support arrears payment that... |
Quicken Loans Mortgage application, originator, mortgage broker November 19, 2015 - I applied for a mortgage loan with Quicken loans and was pre-approved, contingent on certain conditions. I met all the conditions as specified but the loan was still denied. They stated that they could not confirm how I paid off - debts. I provided bank statements that showed the withdrawal and money orders to pay off the debts. I am concerned because I am of low income and getting offers from higher cost loans and that my information has been mishandled or sold. I qualify for this loan and believe that I am a victim of housing discrimination because of offers from higher cost loans. ... |
Quicken Loans Mortgage settlement process and costs November 18, 2015 - 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 obligati... |
Quicken Loans Mortgage loan modification,collection,foreclosure November 12, 2015 - my house burnt down on -/-/2015. i finally received a check from my insurance company to pay off the mortgage on -/-/2015. i two day priority mailed a - check to quicken loans on -/-/2015. the post office lost the check and it did not arrive until -/-/- so now quicken loans wants me to pay an additional - to avoid forclosure on the property because it did not arrive by -/-/- eventhough i have tracking numbers and proof that it is not my fault and it was lost in the mail. ... |
Quicken Loans Mortgage application, originator, mortgage broker November 6, 2015 - Quicken Loans, particularly has been unresponsive since -/-/2015. I have been trying to call - - who is the representative assigned to me but every time I call him, it just goes straight to voicemail. He tries to call me back but it is always at a time that I am either working or unavailable. I believe Quicken Loans has failed to provide due diligence on my mortgage loan application to move forward with a property I am trying to purchase. ... |
Quicken Loans Mortgage loan servicing, payments, escrow account October 30, 2015 - I have an escrow account set up with my mortgage. I re-negotiated my homeowners insurance amount with my insurance company to a lower amount. A new declaration page was sent out showing the change. There was no bill. My mortgage company paid it as a bill. I can understand that mistake, but then two weeks later after paying that bill, a new insurance company sent a much higher bill for payment for - - and that was paid without my authorization! My homeowners insurance was paid up to date until -/-/- so neither of those payments should have been sent out! I called them twice and they ... |
Quicken Loans Mortgage application, originator, mortgage broker October 30, 2015 - On -/-/15, my wife & initiated a refinance loan application with Quicken loans. Quicken collected $400.00 good faith fee and shortly thereafter an appraisal was completed on our home. The appraisal determined that some repairs were necessary to satisfy FHA loan requirements. We obtained bids for the repairs and, then, submitted them to Quicken Loans with the request that the cost of these repairs, $6200.00 be paid from the loan proceeds. In addition, we indicated that we would not move ahead with the necessary repairs, because of the cost, unless Quicken loans confirmed this would sa... |
Quicken Loans Mortgage application, originator, mortgage broker October 13, 2015 - Quicken loans, I started a loan application with them on Wednesday, they quoted me a price and by Monday they were up selling me into more closing cost and rate increase. Based solely on the fact that I did n't repond fast enough. It was 4 buisness days, they should give a consumer reasonable time to research and consider and offer in writing. Not fair to attempt to upsell HARP rates after making the offer two days later. Very dishonest and put good family 's under pressure. ... |
Quicken Loans Mortgage application, originator, mortgage broker October 7, 2015 - I applied for a loan through - - Bank and was given a pre-approval. Quicken Loans underwrites their loans. Once in underwriting, I was asked - times why I was moving from my home with my husband. -, requesting my answer in writing and - by phone, on a recorded line, directly from the underwriter. My answer was consistently the same, that this property would be my primary residence. I was told that I could n't use money from my business account because the business was filed on my taxes as a partnership between my husband and I. I proved that I was the sole principal on the busin... |
Quicken Loans Mortgage loan servicing, payments, escrow account October 2, 2015 - - - ( Borrower ) - - - -, - --Quicken Loans ( Lender ) - - -, - - Whom It May Concern : My name is - - and I am writing this letter to file a complaint against Quicken & Loans. They are currently my mortgage lender for my property - - - -, - -. My loan number -, my HUD file number is - and mortgage insurance case number is -. Quicken & Loans is apparently not allowing me to close my escrow account. This is a direct violation of your guidelines. First let me give you some background information on the loan. In - -,... |
Quicken Loans Mortgage application, originator, mortgage broker September 28, 2015 - I applied for an FHA refi loan with Quicken Loans. They checked my credit and estimated my house value at $190000.00. The rep said I had to submit $400.00. good faith money in - hrs or the loan was null and void. I said I thought this was unusual, and that I was a - citizen and I did not have a lot of extra money. He said it was required to process my loan. I submitted the money. I was then asked for a lot of other documentation which I provided and they said was okay. Finally an appraisal was ordered. The appraisal came in $40000.00 under what I was told. I questioned the appraisa... |
Quicken Loans Mortgage settlement process and costs September 28, 2015 - Last year, 2014, I went through Quicken Loans for a mortgage and it was the worst decision I ever made! There are so many different departments that my loan went through, I ca n't remember all of them, however, in the one department, - took my loan, changed the interest rate from 4.125 % to 4.255 % so I can bring less to closing. I did not agree or sign off on the new interest rate but - took it upon himself to change my rate and lock it in. I told - to change it back and he could n't nor could his supervisor. I did n't know that I could refuse the loan at the time. I have an FHA Loan... |
Quicken Loans Mortgage application, originator, mortgage broker September 26, 2015 - I contacted quickenloans about getting pre-qualified for an FHA Mortgage. The agent pulled my credit reports and said that while my credit score qualified me for a loan, they could not proceed because I have disputes on my credit report. It is my understanding that under CFPB regulations, credit can not be denied for exercising in good faith a right under the Consumer Credit Protection Act ( such as disputing information in your credit report ). '' ... |
Quicken Loans Mortgage application, originator, mortgage broker September 23, 2015 - I applied for a refinance through Quicken Loans. I provided all the documents requested by their initial loan originator. They pulled my credit, received my - and last two years - and recent paycheck studs and I met their requirements to complete an application. They asked me to pay $400.00 up front for the appraisal. I did. They locked me in with an agreed upon interest rate. I went through the entire process and was about to close when they decided that they were not comfortable my current job status as an contract engineer and at that time wanted to see that my contract would not en... |
Quicken Loans Mortgage application, originator, mortgage broker September 21, 2015 - loan # - we began a process with quicken loans -/-/2015. seller paying closing cost and appraisal cost.. gave a $400.00 deposit for good faith estimate. was to come off the down payment at closing. it would only be lost if we ourselves backed out ... many problems and - times cancelling closing dates,, the seller backing out.. asked for the GFE deposit to be returned and was informed NOT HAPPENING! spoke with exec. office ... - - - stated NO MONIES WILL BE RETURNED, also we 're lucky we do n't get a bill,, claims it cost $550.00. not true $300.00. seller paid and it was ... |
Quicken Loans Mortgage application, originator, mortgage broker September 16, 2015 - RE : Predatory Lending Practices - Loan ( - - Dear Consumer Protection Agency, I purchased my first home in 2007 in - Virginia. As I am now speculating that I may have been a victim of predatory lending practices being approved at a high interest of 6.37500 % for 30 years. For the last two years or more, several unsuccessful attempts at a mortgage loan modification have been attempted. The last attempt at a mortgage loan modification has been especially painful with Quicken Loans for the last four months to be told that I have to wait until -. All of the necessary documents were... |
Quicken Loans Mortgage loan modification,collection,foreclosure September 10, 2015 - My husband passed away and I am unable to continue to make the monthly payments, without his income. ... |
Quicken Loans Mortgage application, originator, mortgage broker September 10, 2015 - Quicken Loans is attempting to close on a loan with the clients name, - -, -, FHA case number. They fraudently misquoted her numbers telling her the world and then bait and switched her. They charged $400.00 for a fee not related to the appraisal so they could keep the appraisal. In every which way they tried to skeem and push something in front of this lady, all the while I was diligently telling her they were in the bait and switch program. I wish this not to the case on future, elderly, -, living in poor neighborhood individuals. They also denied transferring the fha case, whi... |
Quicken Loans Mortgage application, originator, mortgage broker September 8, 2015 - Per FHA Guidelines The lender is held responsible, equally with the appraiser, for the integrity, accuracy and thoroughness of an appraisal submitted to FHA for mortgage insurance purposes. FHA may pursue appropriate enforcement actions against - or either party for violations. In my situation not only did the appraiser use a foreclosure but he also used a - property that needed a lot of work as well. He also totally disregarded the below grade portion of my home. To clarify that, he only tried to focus on the above grade portion of my home and totally disregarded the below grade. The ho... |
Quicken Loans Mortgage application, originator, mortgage broker September 8, 2015 - Per FHA Guidelines The lender is held responsible, equally with the appraiser, for the integrity, accuracy and thoroughness of an appraisal submitted to FHA for mortgage insurance purposes. FHA may pursue appropriate enforcement actions against - or either party for violations. In my situation not only did the appraiser use a foreclosure but he also used a - property that needed a lot of work as well. He also totally disregarded the below grade portion of my home. To clarify that, he only tried to focus on the above grade portion of my home and totally disregarded the below grade. The ho... |
Quicken Loans Mortgage application, originator, mortgage broker July 17, 2015 - During my first attempt to refinance with with cash out from my current mortgage holder, my information was submitted incorrectly to underwriting. I did not have access to neither was I able to view/authorize any of the information submitted on my behalf. I have no idea if my application was submitted for a FHA or a Conventional loan. Upon being denied after a more than 30 day process, I questioned the submission of my application. A representative of the company mistakenly stated several things requested on my application that I did not request. When I began to question this incorrect, I was ... |
Quicken Loans Mortgage application, originator, mortgage broker July 2, 2015 - I was denied a fha loan with quicken loans. I believe the reason was descrimination. I meet the income, length of employment, and credit requirements and still was denied. I was told on the phone it was because i didnt make enogh income. Then i received a letter of denial saying it was because of excessive debt. ... |
Quicken Loans Mortgage settlement process and costs June 28, 2015 - I am a - time home buyer in - Maine who applied for an FHA loan through - of the nations largest online home mortgage lenders. The Sellers and I desired to complete a private sale because that suits our preferences. The Sellers and I drafted a purchase agreement together and I submitted the draft to my attorney for review and corrections. My attorney placed in the Purchase Agreement contract language that would protect the interests of both the Sellers and I. - stipulation that protected the buyer was that if the appraised value of the property and therefore the financed amount is ... |
Quicken Loans Mortgage application, originator, mortgage broker June 17, 2015 - Greetings, I 'm writing to ask, What good is the H.A.R.P program, if the banks all turn you down? If the object is to assist people, it sure is a lousy program. I 'm currently paying 7.5 % with payments at $1100.00 a month, yet every bank I ask will not let me refinance due to not enough income??? I currently make about $1300.00 a month income, and have not missed a payment since I took over the loan, yet no one will let me refinance to a lower rate, which will reduce my payments. I would love to be able to afford hamburger helper occasionally, instead of raman noodles and what vegetables ... |
Quicken Loans Mortgage credit decision / underwriting April 29, 2015 - I am in the process of purchasing a home. I chose to do business with Quicken Loans based on their strong reputation within the mortgage industry. After starting my loan application, I received constant miscommunications, poor service, and a feeling from their team as if my business really was not important to them. I chose to withdraw my loan application, and take my business elsewhere. I chose to withdraw my loan, and the FHA case number was transferred to my new lender. Quicken had to close my loan application out in order to transfer the FHA case number, and when they did, they closed the ... |
Quicken Loans Mortgage loan servicing, payments, escrow account April 23, 2015 - Quicken Loans did not calculate our escrow correctly with our new home resulting in having to pay an unreasonable amount of money. After living in our home for the first year, QL sent us a check because we overpaid escrow. I called QL, and they assured me that it was my money to deposit into my bank account and do with what I pleased. Since the new escrow calculation, the amount the check was for is the amount I owe in escrow. They did not calculate our home with the land the last year which caused us to have to pay an unreasonable amount of money. ... |
Quicken Loans Mortgage application, originator, mortgage broker April 15, 2015 - I recently applied for a refinance to my mortgage through Quicken Loans. I had asked about their product where they claim to pay your PMI for you. This would really save us some money each month. After working with their agent, I was told that I did not qualify because I do not have enough equity in my current home. I understand this even though my wife and I have an impeccable record and credit scores. The problem that I have is that if I do not qualify, why do I continue to get email notifications urging me to apply for refinances through them? I constantly receive email notifications from Q... |
Quicken Loans Mortgage application, originator, mortgage broker April 8, 2015 - On -/-/15 I contacted quickenloans ( QL 'S ) for a HARP Refi and was told I was approved but needed to pay $ 400- $500.00 for an app fee. I advised that I wanted to discuss my options with spouse before proceeding. After discussing and contacting my mortgage Lender I decided not to proceed with QuickenLoans. I called QL 's, the representative was very persistent and matched the GFE of my lender. Since my lender offered no costs upfront, application or appraisal fees as did QuickenLoans I called back to cancel. The representative ( - - ) tried to match the offer by reducing closin... |
Quicken Loans Mortgage loan modification,collection,foreclosure March 31, 2015 - My loan company Quicken Loans is trying to auction off my home. They have not allowed me the opportunity to go through mediation as required by Maryland law and they have not reviewed me for ANY programs that may help me save my home. This is an FHA loan and I have been told that there are several programs available on FHA loans to help homeowners who are struggling. I had a hardship and it caused me to fall behind on my loan but I have recovered from this and am working and trying to fix the problem with Quicken Loans. However, they tell me I have to pay them all the late payments at once or ... |
Quicken Loans Mortgage credit decision / underwriting March 25, 2015 - Quicken Loans has given me - approval letters stating that my loan has been approved and FULLY underwritten in accordance of the underwriting guidelines. 5 days before closing - -, Solution Consultant for Quicken Loans, informed me that they still needed more time and that the loan HAS NOT been approved by their underwriters. Due to this, I have lost ALL deposits for the purchase of the home I was interested in buying since the approval letter was emailed from the loan consultant to my broker. A total of $3300.00. ... |