I am filing this complaint on behalf of my 90 year old Air Force veteran father. He was looking to reduce his monthly mortgage payment via a refinance. He came across Quicken Loans advertised 5% interest rate and was contacted by Michael Telekesy, a Quicken Loans rep who told him he could get a 5% rate and would only cost $400. He agreed and Michael came to his home to have him sign preliminary paperwork. At this time my father called me so I could speak to Michael directly to discuss the terms. I live in northern CA.He told me that the refinance would be 5% with approximately $2500 in fees and would save my Dad around $100 per month. I told Michael that if the terms changed that he should rescind the contract. On that basis I gave my Father the go-ahead to continue with the refinance. Several months later my Father called to tell me his new mortgage was much higher than it should be. I flew down to look over the paperwork to discover that his original $70K mortgage was refinanced into a $76200 mortgage with payments of $20 less than the original payments. The loan was also processed as a VA loan which carries additional fees than a conventional loan. Given my Dad's financial circumstances this is totally inappropriate. Quicken Loans explanation was that my Dad had to "buy down" to 5% which accounted for all the additional fees. Why did he promise 5% if he couldn't deliver? This loan should never have been written since it lacks financial soundness, it will take decades to recoup the cost of this refinance. If my parents were years younger I would be the first to say buyer beware but when you blatantly try to deceive a 90 year old Air Force Pilot veteran thats just sad.

I was transferred to a talking head at Quicken since Chase isnt doing business in my state. I was connected to a cheerleader who pulled our credit without asking. IT'S AN FAIR CREDIT REPORTING ACT violation... I called to complain, they backed her up all the way. We went with a REAL BANK for our refi and are very happy. I hope NO ONE EVER even thinks of using QUICKEN LOANS. They make the loan and then sell it to a real bank to SERVICE; they keep their capital floating..I'd just as soon stick a sparkler in my eye before ever having to deal with them again..

Will fowler told me that i was preapproved then after my (good faith money) reached their account did the appraisal, and then after all that they denied my loan. now why would he do all that on the same day. i have heard of nothing good about quicken loans, all they want is your money and then as soon as they get it, they screw you over. will fowler was rude the whole time, he never listened to what i said, he pretty much said just sign your name, or he would change the subject. so if you are thinking about applying with quicken loans i would highly advise you against them, they are only out for the money, then they dont care, i just wish i would of researced a little more, but i did a little too late and now im out all my money. will fowler tried telling me it was my realters fault for going ahead with the appraisal, when he had nothing to do with it, quicken loans is the one that hurried up and wanted to get it done so that they didnt have to pay me back. the loan officer is the one that asked for the appraisal not the realter.,
so PLEASE STAY AWAY FROM QUICKEN LOANS AND ALSO IF YOU GET A GUY BY THE

I went through Quicken loans for a mortgage for a purchase of a home in FL. I currently live in PA. I was told that I was approved but, that I needed to have my name taken off my husbands credit cards. So I did this. In the mean time I have taken many trips to FL looking for a house.

On our last trip he told me that he was going to do a pre-underwrite so there would be no surprises. I spoke to him the day before we left and was told everything was a go. NOT! We got there and found a house and were about to get a contract and then all of the sudden my credit scores were too low. This is 3 days after he did the pre-underwrite.

I have since found out that him telling me to remove my name from husbands cards is what lowered my score over 80 points.

Now I have wasted over 2000 on another trip to FL and can't buy a home because they have pulled my credit so many times that my score went down another 40 points.

PLEASE, PLEASE, PLEASE DO NOT USE QUICKEN!!

As a former employee, Quicken Loans should be on the top of the list of companies to AVOID working for. On the surface, Quicken Loans appears to be an attractive employer. The atmosphere they've created is unlike most workplaces. However, what really happens at the ground level should be exposed, investigated by the government, and brought to an end.

If I didn't have the sense God gave me to leave, it no question could have ruined my life - personally and financially. As a mortgage banker, I was paid $24, 000 a year in base salary and promised a fortune in commission revenue. Once you hit the boiler room of a sales floor, you are told point blank that you have to work 8am to 8pm at the least in order to show you are committed to being successful, and are encouraged to skip your lunch break. Quicken Loans does not pay overtime. I was left messages from my manager on my voicemail when I would leave to grab something to eat about how I was "on the bubble" and should think about what is important to me in my life.

Unfortunately, my story is not unique. I represent the majority. I would estimate that 95% of their workforce at any given time experiences the same absurdity. Complete a Google search and review the testimonials on various sites like this one..

How do they do it? They hire young. Most employees have never had a job in the corporate world. They entice the "just out of college" demographic with predatory tactics such as the lure of expensive parties where alcohol flows freely. They headhunt at retail locations, car dealerships, oil change spots. You name it. All the while dangling carrots in the unsuspecting eyes of the naive. I never came across an experienced new hire from the lending industry.

I left a position with one of the leading telecommunication companies, feeling a little burnt out, for what I thought was greener pastures. What I walked in to was something I could write a book about and people would argue that it should be in the fiction section of your local bookstore. That's how ridiculous it is.

Allow me to give you a little peak behind the curtain of what I was witness to during my time at Quicken Loans:

-The answer key being passed around during a new hire test to obtain our license to create mortgages in over a dozen states.

-drug use during work hours

-rampant sexual harassment from male to female co-workers, including entry level employees to senior level management.

-team trainings instructing loan originators in ways to increase revenues and commissions by padding loans with additional unnecessary charges. The term "green bar" was promoted regularly, referring to a section of the loan that was highlighted on your PC screen in green showing how much additional you were stacking onto the costs involved. One loan originator had a vanity license plate that said "GRNBAR". Sheer arrogance.

-the mass coaching of groups, instructing to "get to emotional backbone" of the could be borrower. A direct quote, "you're looking at their credit report, ask them if they have children. If they do, ask them if they ever plan on sending them to college. If so, tell them not in your financial state." How could I, someone with no children, speak to anyone with children in that manner? I felt morally corrupted.

-Team leaders encouraging their underlings to take advantage of the clients with less than stellar credit. Especially in the South. Derogatory comments were commonplace about the race, ethnicity, intellect, place of primary residence of these clients.

-falsifying data with regards to assets in order to qualify someone who otherwise would not on their own.

-requirement of $500 deposit taken by credit/debit card only in order to even start the loan application process. Huge revenue generator for Quicken Loans. Positioned as a "Good Faith Deposit" but try getting this refunded in "good faith" if you decide to change your mind.

Need I continue? The attrition rate at Quicken Loans must be higher than any other company. The rate they churn out employees is remarkable. Either by firing or by these poor saps coming to their senses. There is no amount of free Cleveland Cavalier tickets, popcorn and slushie machines (at ever corner) that should entice anyone looking for a serious career. Only the individuals that got in at the ground level and profit off of the slimey work of fast food drive-through mortgage bankers have any real tenure. Because it's set up like a pyramid scam. Quicken Loans ultimately benefited from the mortgage "refi" boom along with the skyrocketing internet marketplace of the early 2000's. The fact that they are still in operation is criminal.