[Resolved] Quicken Loans Review: Fraud and scam

[Resolved] Quicken Loans Evaluation: Fraud and rip-off


Evaluation up to date:

I’m a present worker at Quicken Loans. Simply to present you a fast background, I used to be born and raised in Arizona and have spent most of my life in gross sales, largely automotive. I’ve been at Quicken Loans for simply over a 12 months and may actually say its the worst job I’ve ever had. I can actually say that this can be a firm that’s owned, ran, and managed by crooks. Earlier than I get to our unlawful day by day practices and crooked possession, I wish to begin with among the widespread practices of the two managers that run the decision middle that I work at in Arizona. Their names are TIM BIRKMEIER and MATT STOFFER. Simply to start out, these are 2 of probably the most fowl mouthed managers that I’ve ever labored for in my whole life. Whether or not its feedback derogatory in the direction of lady or racists jokes aimed in the direction of his panics and african-american purchasers, there actions and speech are appalling.

I am unable to converse for all the Quicken Mortgage name facilities, however I do know what goes on on this Arizona sweat store. TIM and MATT work their 150+ loan officers at our web site about 60-75 hours per week, and the corporate does NOT pay additional time, however that labor is necessary to maintain your job. I’ve copies of schedules that present 10-12 days, 6 days every week. Though they do have the Truthful Labor Act poster hung in 3 completely different spots on the web site, I believe somebody has forgotten to learn them totally. However its not as in the event that they cover it, MATT and TIM are fairly open about the truth that they need you at work from 8-8 and to work by your lunch hour.

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Not solely does TIM and MATT screw their staff, however we’re additionally skilled to screw our prospects. BEWARE, if you’re a buyer or quickly to be a buyer of Quicken Loans, please double suppose your determination. I would be the first to confess that I haven’t got alot of mortgage expertise, however what we’re skilled to do, I do know is mistaken. Moreover our base wage that we’re paid, we’re additionally paid on premium of the loans we promote, (which is how excessive we will jack up the purchasers charge, how a lot more money in factors we will cost them as nicely, and if we will persuade them to take an adjustable mortgage as a substitute of a hard and fast). So the upper the speed and charges we give the shopper, the extra we receives a commission. How are we skilled to try this you ask? TIM and MATT put it by saying ‘discover the low-level purchasers you can make your cash off of’. They’ve by no means stated it in complete web site conferences, however in smaller group conferences I’ve heard each MATT and TIM say issues like, ‘In case your coping with a redneck from the nation or a ‘*bleep*’ from town, it is advisable to make sure that their charges and charges are a lot increased, thats the place you make your cash. But when its an informed, wealthy ‘*bleep*’ from the suburbs, we could not be capable of make as a lot cash off the loan. (The 2 bleeps had been racial slurs usually used on the workplace at Quicken Loans). Is not that why the mortgage trade is so screwed up? How can 100 completely different folks with the identical loan, similar property, and similar credit score rating, be given 100 completely different charges and price constructions. Additionally, on the loans that we do give the debtors a lot increased charges and charges and adjustable, MATT and TIM make it possible for we do not fill within the race/ethnicity part on the finish of the applying, so it does not seem like we’re over charging or screwing one race or class of individuals vs one other. Which actually is precisely what we’re skilled to do.

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Additionally, Quicken Loans makes cash off of what we name our ‘Good Religion Deposit’. It’s a non-refundable $500 cost to your bank card that’s used to ensure the shopper is severe about doing enterprise. This can be a full rip-off. We’re skilled, even when their isn’t any loan that we will do, the shopper does not personal a home, or they name us up for a loan we do not present, we take $500, interval. Thats the place many of the cash and revenue of the corporate comes from. I ended taking deposits shortly after I knew what I used to be doing, however then was shortly reprimanded by TIM and MATT, and my job shortly threatened thereafter if I did not proceed the deposit course of. We’re skilled to lie and promise prospects something to earn there enterprise. We’re informed to inform the purchasers that we’ll do a free loan for them subsequent time they use us, even thought we could also be charging them $10, 000 to do the loan now. Plus one other $10, 000 to do the loan the second time, as a result of we won’t do free loans. It is all a flat out lie, and a flat out rip-off!

However regardless of all this, Quicken Loans was voted the quantity 2 place to work by Fortune Journal, in all the USA… how? I’ve to name CNN, which I consider owns Fortune Magazina and discover out. Possibly its as a result of its owned by Dan Gilbert, and his Michagen State cronies. This can be a man that was arrested for unlawful playing and stealing peoples cash, however but he owns the fifteenth largest mortgage firm within the USA… Go Determine. Possibly its as a result of all the higher administration of the corporate consists of Michigen State alumni, and previous faculty buddies. Possibly its as a result of they may solely rent staff that this is able to be their first job, and have had no earlier employment. It is simpler to run a sweat store when your simply out of highschool and or faculty and do not know any higher. For all these folks know, 75 hours is regular to them.

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And final however not least, you in all probability guessed it. What number of jobs do you suppose TIM and MATT had earlier than becoming a member of Quicken Loans? You guessed it, a mixed whole of NONE. Oh nicely, subsequent time I hear certainly one of them get of the telephone, I all the time image them saying ‘Would you want fries with that mortgage’?

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