Quicken Loans
Deposit Kept After Low Appraisal and High PMI Demand

Contacted Quicken Loans to refinance home at lower interest rate with no cash out, we went over the details and they stated to proceed they would need a 500.00 deposit that would be refunded at closing or if loan denied.
Should have read all of usacomplaints. Coms and consumer complaints first!

They come back with a super low appraisal and stated in order to close I would have to do a loan with PMI (which I do not have now) and excessive closing costs.
Why would they ever want to make a loan they pay the appraiser 200 and credit check 40 and then take a million applicants they have made 260 million without ever loaning a dime!
So they keep my 500 dollar deposit for appraisal fee and credit check since they said my loan was not denied but I was not willing to pay the 260 month PMI and 8700 closing costs

This scam needs to be checked into by the Ratio of Applicants/to actual Mortgages

Dave

Company: Quicken Loans
Country: USA
Site: quickenloans.com

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