Quicken Loans

Report Card
C-
Overall Grade
C
Mortgages Grade
Quicken Loans is rated overall in the bottom 15 percentile (out of 100) based on 547 customer complaints.

Statistics

Complaints Currently In-Progress12
Complaints per $100K of Deposits
Complaints Resolved in a Timely Manner96.2%
Resolutions Disputed by Customer23.8%
Average Time Until Resolution30 days

Financial Report

Owner CorporationNot Listed
EstablishedNot Listed
FDIC InsuredNot Insured
FDIC Certificate #
Number of BranchesUnknown
Total AssetsUnknown
Total DepositsUnknown
Total EquityUnknown
Quartarly Net IncomeUnknown

Contact Information

Corporate Headquarters
Not Listed
Website
Not Listed
Data Summary
Quicken Loans logo

Grade Summary

Overall, Quicken Loans received a grade of "C-" based on how quickly the company responded to complaints, how often customers disputed their final resolution, and how many complaints were recieved per customer.

Grades are also broken down by the financial products offered be each institution. Quicken Loans is rated "C" in Mortgages. Click on any of the financial products to see how Quicken Loans compares.

Overview

Quicken Loans has received 547 consumer complaints since December, 2011 – more than 97% of other banks.

Of those complaints, 96.2% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' Quicken Loans meets the 60-day response deadline less frequently than 64.1% of other banks.

After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 23.8% of customers dispute Quicken Loans's response to complaints — worse than 74.4% of other companies.

Most of Quicken Loans's customers complain about mortgages with the primary issue being "application, originator, mortgage broker."

Complaints by Product
Complaints by State
Complaints Against Quicken Loans
#Financial ProductSub-ProductComplaint IssueComplaint Count
1MortgageConventional fixed mortgageApplication, originator, mortgage broker169
2MortgageConventional fixed mortgageLoan servicing, payments, escrow account65
3MortgageOther mortgageApplication, originator, mortgage broker52
4MortgageConventional fixed mortgageSettlement process and costs40
5MortgageFHA mortgageApplication, originator, mortgage broker39
6MortgageOther mortgageLoan modification,collection,foreclosure30
7MortgageConventional fixed mortgageCredit decision / Underwriting27
8MortgageVA mortgageApplication, originator, mortgage broker26
9MortgageOther mortgageLoan servicing, payments, escrow account26
10MortgageFHA mortgageLoan servicing, payments, escrow account18
Responses From Quicken Loans
#Company ResponseResponse CountTimely Response CountDisputed Count
1Closed with explanation600577 (96.2%)147 (24.5%)
2Closed without relief2121 (100%)4 (19%)
3Closed with monetary relief1414 (100%)3 (21.4%)
4Closed99 (100%)1 (11.1%)
5Closed with relief66 (100%)1 (16.7%)
6In progress55 (100%)0 (0%)
7Closed with non-monetary relief22 (100%)1 (50%)
8Untimely response20 (0%)0 (0%)
Complaints over the Past Year