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Complaints, Scam and Fraud Accusations Explained | Quicken Loans: Education

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Uploaded on Jun 29, 2009

Tony Nuckolls, VP of mortgage banking at Quicken Loans talks about Quicken Loans complaints, about how Quicken Loans has been accused of being a scam and a rip-off and putting those complaints into the context of Quicken Loans outstanding record of customer service and experience. Here is some information from Nuckolls: Of course the Internet is an amazing tool for business, allowing unprecedented access to information. In fact, Quicken Loans was one of first companies to bring mortgage services online.

Overwhelmingly, our clients have wonderful things to say about their experience with Quicken loans, and have gone online to recommend us. But, it's true, some people are not always as satisfied.
While no one likes to hear complaints, I feel it's important to set the record straight and tell all sides of the story.

Mortgages are complicated, and sometimes - though infrequently - something goes wrong: Appraisals come back lower than expected, mortgage rates change before they're locked, income cannot be verified, or a larger down payment may be required.

These are some of the typical snags we encounter that lead to client dissatisfaction and complaints. That's why we have a dedicated client relations team to make sure all of our clients get the service they expect and deserve.

The reality is, almost all of our clients have a smooth experience, where everything goes as planned.
Although our goal is continual improvement and 100% satisfaction, it's worth noting that out of the thousands of people we help every day, the complaints online are just a tiny fraction of our clients.
In the simplest of terms, the complaints represent less than 1/10th of 1 percent of our clients!

Quicken Loans is an Equal Housing Lender. Quicken Loans Inc. is a licensed mortgage lender in all 50 states. Arizona: Quicken Loans Inc., 16425 North Pima, Suite 200, Scottsdale, AZ 85260, Mortgage Banker License #BK-0902939; Arkansas: Quicken Loans Inc., 1050 Woodward Avenue, Detroit MI 48226-1906, (888) 474-0404; California: Licensed by Department of Corporations, CA Residential Mortgage Lending Act; Colorado: Quicken Loans Inc., NMLS #3030, (888) 474-0404, Regulated by the Division of Real Estate; Georgia: Residential Mortgage Licensee (#11704) -- 1050 Woodward Avenue, Detroit MI 48226-1906; Illinois: Residential Mortgage Licensee #4127 -- Department of Financial and Professional Regulation, 1050 Woodward Avenue, Detroit, MI 48226-1906; Maine: Quicken Loans Inc., Supervised Lender License NMLS #3030; Massachusetts: Quicken Loans Inc., Mortgage Lender License #ML-3030; Minnesota: not an offer for a rate lock agreement; Mississippi: Licensed by the Mississippi Department of Banking and Consumer Finance; New Hampshire: Licensed by the NH Banking Department, #6743MB; New Jersey: Licensed Mortgage Banker -- NJ Department of Banking, first (and/or second) mortgages only; New York: Licensed Mortgage Banker -- NYS Banking Department; Oregon: Quicken Loans Inc. -- License # ML-1387; Pennsylvania: Licensed as a first Mortgage Banker by the Department of Banking and licensed pursuant to the Pennsylvania Secondary Mortgage Loan Act; Rhode Island: Licensed Lender; Texas: Quicken Loans Inc., 1050 Woodward Ave, Detroit, MI 48226; Virginia: Quicken Loans Inc., NMLS ID #3030 (www.nmlsconsumeraccess.org). Washington -- Consumer Loan Company License CL-3030. Quicken Loans Nationwide Mortgage Licensing System #3030.

© 2013 Quicken Loans Inc., All rights reserved. Lending services provided by Quicken Loans Inc., a subsidiary of Rock Holdings Inc. "Quicken Loans" is a registered service mark of Intuit Inc., used under license.

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