Recently, I've been shopping around for a mortgage loan for my new house. Somehow I ended up working more with Quicken Loans. Right off the bat, they wanted $500 deposit. I should have known when a company ask for money upfront. I signed a Deposit Agreement which states that if I was not approve or I withdraw from the application, then the lender (Quicken Loans) will refund me the deposit less the appraisal and/or credit report fees. I was OK with this! At this point I was approve for a loan but I was not ready to lock in a rate because I was waiting for it to go down a bit. While waiting I was also checking out other loan company and get rates and comparing closing costs. When I called Quicken Loan and told them that Amerisave was offering me this rate and their closing cost would be this. The mortgage bank whom I was speaking with try to talk the other mortgage company down. When I try to tell her that the other company would save me more money, she snapped and threaten to hang up on me because I was listening to her breakdown of why I should remain with Quicken Loan. I told her I don't need the breakdown, I just wanted to know what kind of interest Quicken can offer me and what is the final total of the closing cost. After I told her that, she threaten to hang up again. At this point, I was about to hang up on her. Because she couldn't convince me, she said she will have her supervisor call me. I talked to the supervisor (Matt something) the next day and told him I will not lock in the rate because it was too high. I continue to tell him I will shop around some more. Few days later I called Quicken loan and talked to another supervisor (David Shin). At first he was very friendly, even when we were talking about rates and other loan company.By the end of the phone call, he was telling me that if I go with other companies, no one will approve my loan. I asked him why and he told me that my loan to debt ratio was 58%. I told him I will ask the other company to see if they can approve me and hang up. Amerisave did a loan to ratio on me and it was 28%... David Shin was trying to scare me into locking with Quicken Loan. Just thinking about it, I get so damn piss at what these motherf*ers say to their customers and scare them into signing on the dotted line. Needless to say, I went with a local bank to finance my loan. Then I called Quicken to tell them that I want to withdraw from them. David Shin got really hot and started to belittle me. He demanded to know why I didn't stay with them and that they wasted all their time trying to get my loan ready. I told him, I haven't lock in with them yet, so I have no obligation to them. I asked him for remainder of the deposit and he told me I will not get that money back. This went back and forth for a while and he told me to talk to customer service about the deposit. I called customer service and they told me in order to get some of my deposit back I will have to talk to the mortgage banker handling my account. I told him I just talked to him. He then quickly told me I can get the money back. I told him I have a Deposit Agreement that said I can get some of my money back. He told me I have to work it out with the mortgage banker. Now I'm thinking these m*f are giving me the runaround. I told the customer service rep to f off and hung up. I went to Michigan BBB and filed a complaint. Researching online, I found out that Quicken Loan does this to alot of people. My advice do not deal with quicken loans, they are shaddy and will say anything to try to get you to sign.
triprairieville, louisiana
U.S.A.
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