The worst customer Service by far
Complaint
Andy M.
Country: United States
Contacting Quicken loans was the worst mistake i have made. The "Mortgage specialist" who i dealt with was very unprofessional and very nasty. Because i decided to take my business elsewhere to get a better mortgage loan and look out for myself Quicken loans decided they where going to rush all the paper work without my approval and lock in a rate.
They constantly harassed my family by calling even after we told them we were taking our business else where. As a result of this Quicken loans decided they were going to keep my deposit which i think is unethical. People do not take your business to Quicken loans as you can see my experience and other negative complaints you see on this page are proof of bad customer service
They constantly harassed my family by calling even after we told them we were taking our business else where. As a result of this Quicken loans decided they were going to keep my deposit which i think is unethical. People do not take your business to Quicken loans as you can see my experience and other negative complaints you see on this page are proof of bad customer service
Comments
He laughed at me and added more rude comments. All I can say is,he had better not hold his breathe because he himself may be in for unexpected hard times in his own life, because no-one can run and hide from fate and the hard luck living in this world can supprise us with. Espically the likes of this guy. Such an insensitive, rude and disrespectful jerk to put it mildly. What a goofball!
It was a ridiculous high pressure attempt and they did it at least 3 times a week.
Stay away.
Furthermore, we were instructed that we had to provide them with our down payment money, before receiving any of the qualification information. I see no justification in giving them our 'down payment' money for our us solely to obtain estimates so that we can begin shopping for homes. We have since confirmed that this is not a standard practice, and we'll be taking our business elsewhere. We recommend that everyone else do the same!
People, please be smart and don’t make the same mistake I did with this fradulant company. My story is one of hundreds with this company. I should have known better. . . I won’t do this again.
Before I start, I just want to say that my story is VERY common and you can get hundreds of stories just like this one by looking up websites on the internet. Just type in “QUICKEN LOAN COMPLAINTS” on google. Choose from several options at this point.
I also want to preface that I am NOT SMART for doing what I did. I should have listened to that inner voice of mine when it said to hang-up the phone immediately after talking with the sales rep from Quicken Loans for only 1 minute. I didn’t listen!!! After nearly making a huge mistake, I decided to look up story after story on the Internet about Quicken Loan customers getting ripped off. Here is a combination of stories put together in order to make consumers aware of the fraudulent practices of this company.
How it all starts. . .
Putting your name “out there” on the Internet to inquire about refinance loan:
For personal reasons I decided to refinance. On the net I saw an advertisement for great interest rates. I filled out the request for quotes on this web site and it seems like in a flash I was contacted by quicken loans. Even though I was just trying to get a quote this guy jumped on me like white on rice. Before my head could stop spinning I was locked in on a 5.875 fixed rate 30 year mortgage with this guy knowing all my personal information and 750.00 dollars out of my checking account. Which, by the way, was supposed to be refunded if the deal didn't go through. We did all the paperwork online and had an appraisal appointment set up. Nothing was written in stone and I could back out any time.
Initial phone call with Quicken Loan:
They were extremely pushy and persistent and wanted me to put $750.00 on my credit card to get the process started.
One story example!! What to expect from the initial phone call:
I recently called for information regarding a possible refinance on my current mortgage. The individual that called from Quicken proved to be pushy, arrogant and completely unable or unwilling to address what I was asking for (information). He was interested in slamming me into a mortgage and disregarded my reminders that I was simply asking for information. He even implied that my credit might be bad because I was unwilling to have him check my credit rating. I decided to terminate the conversation at that point. Clearly Quickens interest is not being a competitive mortgage broker but is motivated by locking a potential borrower into a financial commitment regardless of the individuals needs.
He was so convincing and pushy that I had agreed to the good faith deposit. He literally called me numerous times throughout the day telling me we need to lock in the rate and can't do so until he receives the deposit.
Common Complaint is the deposit charge of $750.00
In order to qualify, Quicken Loans would need to authorize a charge of $750.00 for a credit check. Mr. Grabow (Only one of many agents mentioned on the complaint web sites) said I would get the $750.00 back if I didn't qualify. If I did qualify, I was told this money would go toward the closing costs. I agreed and gave Mr. Grabow my Visa card number. He ran it and called me back saying that I did indeed qualify, and he would email me the good faith estimate for me to sign and return.
Refinance anytime in the future at lower rate? What’s the catch?
Quicken's interest rates weren't any better than anyone else's but they did offer a refinance at anytime in the future for the life of your loan at no cost to you program. Which that sounded great to me since the rates really weren't very low at the time. I asked what the catch was and they said there wasn't one. It was absolutely no cost to me.
He says he can't give me any better rate than I had already (which was over 6.5%). When I told him another company could offer me 5.375%, he said he could give me that too, if I paid all the closing costs. ( there's your catch)
All phone calls recorded!
. . . the loan officer got angry on the phone and told me and my husband that he recorded all of the phone conversations and was going to pull the tapes.
Signing electronic forms on email:
We proceeded with the loan application which included 7 pages of of documentation which he e-mailed me during the conversion. He instructed me to scroll down the bottom of each page and electronically sign them. When he asked me for $750.00. I asked if I could send a check. He said no, that he needed a credit card. I told him I was concerned about losing it. He assured me It would be applied to my closing cost and they need the $750 to get the appraisal. He never once mentioned the $750 was not refundable should I cancel the loan.
Canceling immediately doesn’t matter. . . you can’t get out!
***Cancelling and still being charged!
I did cancel the loan within 2 days and because the other company I was working with in fact did have a better rate. When I asked Blake for a refund He said one of the forms I electronically signed had a paragraph in it stating my Deposit was not refundable. When I rechecked all of the 7 pages I did in fact find that clause. My contention is WHY DID HE NOT TELL ME THAT WHEN WE HAD A SPECIFIC CONVERSATION ABOUT MY CONCERN OF LOSING THAT $750. I immediately called my credit card company, Capitol One. I asked if the $750 had hit my account. They said no. I ask what could I do? They said I could freeze my account and that would prevent the $750 from hitting. I froze it immediately. I thought I was lucky to save the $750 charge. A month later I received my Capitol One statement and there is the $750 charge. Ever since then, I have had numerous mailings and phone calls to Capitol One and Quicken Loans. As of Januay 2008, that bill is still on my credit card and Quicken loans will not credit my account. I have filed a complaint the the Minnesota Department of Commerce who License Mortgage companies, Insurance companies etc. to do business in Minnesota.
Results of rushing through the electronic paperwork before thinking it through!
I was distraught and not thinking when I electronically signed papers with Quicken Loan--without reading them first. I was hurried through by Bethanie (One of many loan officers mentioned on complaint web sites)and forked over $750 which I was told would be refunded at closing. I was trying to refinance my home. When I read the paperwork and saw that I was being swindled, I contacted BBB, who then contacted Quicken. Quicken refused to refund my $750, although all they did was some paperwork which other lenders would have done for free. I let myself get taken advantage of. Stay away from Quicken loans! You lose a $750 non-refundable fee if you decide to discontinue working with them--even if Quicken has done nothing but minor paperwork.
Appraisal process:
Common complaint here is the house does not appraise for the correct value which Quicken Loans uses AGAINST you in the loan process!!!
The staff were friendly and social at first. I allowed them bill my credit card $750.00 which included the appraisal. They sent the person out to do the appraisal. He measured my house 20 square feet smaller than previous appraisals done on this home. The house next door to me was being appraised the same day by a different company. This house is 125 square feet larger than mine. My house appraised $41,000 less than the neighbors house.
Another appraisal??
Quicken loan refused to pay for another appraisal from another company. They kept saying it had to be unbiased
I cancelled the process within 24 hours,
Canceling appraisal:
As a result, I had no choice but to cancel in writing and fax it directly to his office. Also in the letter, I clearly asked for him to cancel the appraisal service. Later that day, I called the appraisers to ensure that the service was cancelled, but it hadn’t – so I cancelled the service myself. The next day, Mr. ********’ supervisor inappropriately called me at my place of employment – posing under the assumption of a “quality-assurance” follow-up call. It was not a “quality assurance” call, but rather a threatening and overwhelming attempt to defend Mr. ********’ character and a desperate attempt for me not to cancel.
In conclusion:
The further you go along in this loan process, I understand that the nightmare and crazy scamming sceneries of Quicken Loans just get worse. Report them to the BBB ( I did ) and FTC (I did) and any other place you think will hear you. . . radio stations, T.V. stations, hey, take it as far up as Geraldo or 60 minutes or 20 /20! Let’s ban together and stop these crooks.
http://www.consumeraffairs.com/finance/quicken_loans_mortgage.html
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Anyway, below is a letter I wrote to the president of Quicken Loans and his executive team about my dealing with them. At the end of the letter, I've provided the email addresses of the Quicken Loans executive team.
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QuickenLoans Executive Team,
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While I appreciated the call from your Corporate office yesterday to respond to my e-mail complaint of 1/8, I'm still very concerned about Quicken Loans' lending practices. If your company listens to the recording of my conversation with your representative, you'll confirm the following:
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<b>1) The representative told me that there was no way to find out what were the best rates offered without pulling my credit reports.</b> Because I didn't want a needless credit inquiry on my credit report (which lowers my score) I asked him if there was a way to simply tell me what would be the best rate offered by Quicken Loans with someone with good credit. (Other mortgage companies I've shopped were able to do this - of course with the understanding that the rate may be sightly different once they ran the credit, if I decided to go forward). The representative said this was not possible because the computer generates the rates once the credit score is populated. Based on my experience and my point #2 below, I don't believe this. Needless to say, I now have a wasted credit inquiry on my credit report to receive a rate that I would not have chosen had I known it up-front. Which leads to the next point.
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<b>2) The representative quoted me an incorrect rate.</b> For a 30 year fixed, he quoted me the 0 point rate and a rate of 4.375% with 1 point. (The next day when Quicken Loans Corporate checked in response to my complaint, that rate did not exist - the rate was in fact 4.375% with <b>2</b> points.) On the call with the representative, I entered the 1 point rate into an Excel spreadsheet and I read him back the calculated results of what the point would be and the resulting loan balance (which included the point). The representative agreed with my calculation. I also discussed with him the comparison of the 1 point cost to 0 point option as it relates to the No Cost Refinance option. Therefore, if he had incorrectly given me the wrong point information, he had multiple times during the conversation to realize his mistake. Also, I asked him to send me an e-mail with the rates he quoted me, and he did, however, he only included the 0 pt rate - not the 1 point rate. Therefore, because he didn't include this rate in his e-mail, this strengthens my conclusion that the Quicken Loans representative purposely quoted me a lower rate to get me to "commit," and this commitment had to be in the form of the non-refundable $500 deposit. Which leads to the next point.
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<b>3) Both the representative and his supervisor told me that the $500 Good Faith Deposit was non-refundable under any circumstances.</b> (When you listen to the phone recording, you'll hear the supervisor telling me this.) Of course this information is incorrect. So, had I acted on the incorrect rate information the representative gave me, and paid the $500 non-refundable fee, I would have been surprised when I eventually (this is the operative word) received the loan paperwork showing a 4.375% loan with 2 points - versus 1 pt. Once I would have seen this error, I would have, of course, asked to cancel the deal, and then I would have been informed that I would not be able to get my deposit back. This scenario seems to match other scenarios that have been reported on the Internet by other dissatisfied Quicken Laons customers. If Quicken Loans followed a process where the customer was able to receive and review a document containing the quoted rate plus all closing costs, many of your bad customer experiences would be eliminated. Which leads me to my last point.
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<b>4) I was not able to get properly documented loan and closing cost information before being asked to pay the non-refundable deposit.</b> When I asked the representative to send me information on what he had communicated to me, he stated that he didn't want to spend time putting together information unless I was "committed" to the loan. (With commitment being paying the $500 deposit.) In fact, I was later informed by Quicken Loans that they were "passing on my business" due to me asking for additional information. This is counter to proper industry practices. Prospective borrowers should, per RESPA, receive a Good Faith Estimate (GFE) that details the loan and closing cost information before they commit to entering a loan. Yesterday, Quicken Loans Corporate stated that the Quicken Loans process does include sending a customer the GFE before asking for the deposit. However, in the "Seven Step Process" on the QuickenLoans website, there is absolutely no mention of the consumer receiving documentation of the loan information or closing costs before the application process starts. (Please see Attachment A at the end of this e-mail for my suggested changes to the Quicken Loans website and practice.) Therefore, if the official, documented process doesn't include this step, how are the front-line representatives expected to follow this process with customers? (Additionally, I saw a post on the Internet where a Quicken Loans employee complained that they had to prepare GFEs after hours. If this is the case, it appears then that representatives do not have the ability to send a customer a GFE while they are on the line with a customer for the first time?)
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In sum, as you'll see from my points above, there are a litany of mistakes and erroneous practices uncovered in just one phone call with Quicken Loans. This could be indicative of poor training, or it could be a result of a corporate management style that emphasizes volume and revenue over accuracy and customer consideration. Regarding the latter, it was unscrupulous mortgage banking and lending practices that caused many of the financial problems this nation is currently facing, and sadly, it appears that companies in the mortgage industry remain more focused on their bottomline than ensuring that the same mistakes are not made again.
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EXECUTIVE TEAM E-MAIL ADDRESSES:
DanGilbert@quickenloans.com, BillEmerson@quickenloans.com, Williamemerson@quickenloans.com, PatrickMcInnis@quickenloans.com, jayfarner@quickenloans.com
Client relations person is Patmcinnis@quickenloans.com
Laura Kradar is at help@quickenloans.com
We are dealing with them now and they have just "junked" us also, being retired law enforcement I intend on utilizing every effort I can to get my deposit back and help spread the news about these crooks.