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Quicken Loans - Incompetent appraisal process and lackadaisical customer service

Update by user Nov 03, 2015

Email follow up sent 11/3

Ms. Xxxxx

Thank you for your prompt follow up.

It is unfortunate we had to escalate this to social medial, to get prompt attention from your company. When we first engaged your company directly (your sales rep) about this situation, it was the opposite reaction. The tactic then appeared to be more of a cynical (blunt way of saying bad faith) tactic of just giving us lip service and running out the clock - while offering us a less attractive refi package.

One of the few statements your sales rep said, that we agreed with, was that the last mortgage meltdown was caused by incompetent appraisals that overestimated a house's value.

I would counter, however, that two wrongs do not make a right - under valuing a house, to use as an excuse to try to get out of the original agreement - so you can offer another, less attractive agreement (a bait and switch) is still the same bad behavior.

Of course, this assumes certain things - like your company uses the same definition the rest of the world uses for a bathroom - a self-contained room, that is within the main structure of the house, with a working toilet and sink. If the bathroom has a bath, shower or both within the same room, that is a full bath. If it does not have a shower or tub, it is a half bath - but it is still a bathroom. Items like number of bathrooms and bedrooms have a very high degree impact on the value of house, thus misrepresenting this information has a tangible financial hardship.

The hardship is not something that would warrant legal action (we are just starting the process with another, more competent company) , but it does make it fair game to openly challenge such statements as "Quicken Loans service is tops in the industry. No other mortgage company comes close. Our complete dedication to providing outstanding service...., we actually combine industry-leading and award-winning technology." You company's last boast (and I say this as a IT professional) might be a clue to the root cause of this issue - you can not program a computer to look at pictures of a house that shows 3 baths and bedrooms and a report that says 1 of each and tag it as in error and fix. That function still has be been done by a competent human/professional who gives more than just lip service to customer service.

Common sense can not be delegated to technology and processes, you have to have competent human professionals that are more than just order takes and data entry staff. The records would be under either Xxxx (Xxxxx) Xxxxx (myself) or my wife Xxxx Xxxx The address is below.

Original review posted by user Nov 01, 2015
Engaged Quicken Loans to do a refinance for a 3 bedroom (two being used as bedrooms, one for an office) 2 & half baths – paid $500 for appraisal, which came back listing house as a 1 bedroom & 1.1 bathroom. Appraisal had attached pictures showing the 3 bedrooms, and the 3 bathrooms, Quicken refused to take action to correct appraisal. Past appraisal (for purchase) showed 3 bedrooms and 3 baths. Because of the incompetent appraisal, house was undervalued and Quicken would not give loan. Did not get refund for incorrect / incompetent appraisal. Requested action: Reimburse us for incompetent and incorrect appraisal done by their agent. They at first denied they could, we had too. We contacted Appraisal Company and they advised they were an agent to Quicken Loans and they had to follow up. Three weeks later Quicken Loans called us back and said there was nothing they could do – but did offer us alternative loan product that was more expensive.
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2 comments
#1059178

This company should be run out of business horrible service

#1057196

Hi, there. My team would like to look into your experience with us.

Could you please send us an email at Emma@quickenloans.com? Thanks!

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ID
#727209 Review #727209 is a subjective opinion of poster.
Location
Duluth, Georgia
Service
Quicken Loans Refinance
Cons
  • Totally incompetent
Reason of review
Bad quality
Loss
$500
Preferred solution
Full refund