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.
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."
|#||Financial Product||Sub-Product||Complaint Issue||Complaint Count|
|1||Mortgage||Conventional fixed mortgage||Application, originator, mortgage broker||169|
|2||Mortgage||Conventional fixed mortgage||Loan servicing, payments, escrow account||65|
|3||Mortgage||Other mortgage||Application, originator, mortgage broker||52|
|4||Mortgage||Conventional fixed mortgage||Settlement process and costs||40|
|5||Mortgage||FHA mortgage||Application, originator, mortgage broker||39|
|6||Mortgage||Other mortgage||Loan modification,collection,foreclosure||30|
|7||Mortgage||Conventional fixed mortgage||Credit decision / Underwriting||27|
|8||Mortgage||VA mortgage||Application, originator, mortgage broker||26|
|9||Mortgage||Other mortgage||Loan servicing, payments, escrow account||26|
|10||Mortgage||FHA mortgage||Loan servicing, payments, escrow account||18|
|#||Company Response||Response Count||Timely Response Count||Disputed Count|
|1||Closed with explanation||600||577 (96.2%)||147 (24.5%)|
|2||Closed without relief||21||21 (100%)||4 (19%)|
|3||Closed with monetary relief||14||14 (100%)||3 (21.4%)|
|4||Closed||9||9 (100%)||1 (11.1%)|
|5||Closed with relief||6||6 (100%)||1 (16.7%)|
|6||In progress||5||5 (100%)||0 (0%)|
|7||Closed with non-monetary relief||2||2 (100%)||1 (50%)|
|8||Untimely response||2||0 (0%)||0 (0%)|