I wanted to refinance my home and closed a deal with Quicken Loan at 3 points and 6%. Next day Countrywide called me and proposed 2 points and 5.875% (1 point = $3000). With a deal like that, how could I pass it up? I already committed to Quicken but I figured that with savings that big, I would rather lose my $500 security deposit and save a lot more over the long term with the countrywide offer.
I called Rachel Fetchko (Mortgage Banker) and told her that I would be alright losing my $550.00 security deposit because I found a much better deal and I appreciated her time and wished her the best. She right away asked me to give her a chance to match the offer Countrywide gave me in order to keep me as a customer and told me she would call me back. Not even 15 minutes later, she called me back and said that Quicken Loans can do the same exact deal that Countrywide offered me. I was ecstatic! Wonderful I told her I'll stay with Quicken Loans.
Another 15 minutes went by and I got a phone call from Mr. Jerry Goldenapple from Quicken Loans. I have never in my life been treated as rude and disrespectful as the conversation I had with him. He told me that I do not understand anything about money and I do not need this new deal that Rachel got for me matching the countrywide one. He said what are you going to do with that money You don't need it. I was blown away, who is he to ask me such question? Keep in mind this was after Rachel got off the phone with me and told me that she wants to keep me as a customer and matched the deal from countrywide.
If that was NOT bad enough, he went on. He told me that if I do not go with Quicken Loans I will never receive a loan at all, that includes countrywide that already made me the offer. My credit score is to low and I do not make enough money (my credit score is almost 800 and I make over 95,000/yr).
After a long discussion, in which the whole time he told me that I do not need this better deal because I don't understand money and what would I do with the saved money anyway. (Excuse me but what business is it of his and how dare he even say such things). He told me that I must commit right now to the initial offer (3 points and 6%) or he is canceling my application.
I was in a parking lot and was late thanks to him keeping me on the phone to take my grandson to the hospital. Obviously a lot more important than Jerry, it is no wonder why I said I do not have time to discuss this as I am already late and I cannot commit to anything especially since Rachel told me just 20 minutes ago about the new deal and now you are telling me I must commit to the initial one. Jerry said that he is canceling my application because I cannot commit to the initial deal right that second.
I informed Rachel in writing that after my phone conversation with Mr. Goldenapple I can not continue my business with Quicken Loans and as I understand my application is canceled. Because it was canceled by QL I expect a return of non refundable deposit of $550. Bellow is a copy of the email I sent to QL.
"Rachel,
2 days ago I had very bad experience while talking to Jerry (not sure about his last name, but his phone number is 248-796-6900). During phone conversation he assaulted me, demonstrated inappropriate attitude, and in the end told me that he is going to cancel my loan application. I had recorded this part of our conversation for future references and also I have a witness of this conversation who was sitting next to me in a car.
After everything that happened I do not feel comfortable to continue working with Quicken Loans even if Jerry changes his mind and continue processing my application.
I believe that since Jerry (not I) initiated cancellation of my loan application I am eligible to receive my deposit of $550.00 back.
I am very sorry that our business relationship wasn't successful."
I have never met anyone as rude as Jerry. Maybe that kind of a sales approach works on someone, but yelling at me and telling me that I don't need to save money and I don't understand money amongst other things is inappropriate on every level I can think of.
This story ended with me having a great experience with Countrywide. I did close my refinance with the numbers they initially proposed to me. I suppose Jerry was wrong? There is actually someone that will work with me and give me a loan. I cannot imagine how Jerry has a job with QL, a respectable company.
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