My husband and I decided to try Quicken to refi our rental property in South Carolina. We applied the week between Christmas and New Years Day in 2017. We received a call in mid-January that we were approved and that we could expect to close on the refi on January 31st.
That day came and went and we called for an update on the expected closing date and we were told our loan process has been transferred to another staff member and that we need to talk to that person. We contacted our new loan processor, and he told us that there was a delay and that closing would be on February 7th. We were Ok with that.
We never heard from Quicken and called a few days later to find out there was another delay, but they never bothered to notify us. Our attorney in South Carolina told us she has never heard anything from Quicken about our loan to schedule a closing.
We called again. By this time our loan had been transferred to a third person and he told us that the closing was now scheduled for February 28th. That day came and went and our attorney still told us she had not heard anything from Quicken.
We called again, and we were told that we had a new contact person but that we can always get an update on the process by checking the Rocket Mortgage website. We did not know that they were processing our application through Rocket Mortgage.
In March we were told that our loan was at the underwriters but that they were missing some paperwork. They told us what they needed, and we asked why they never told us about this back in January. They had no answer except that the other Quicken staff should have told us what documents they needed back in early January.
We sent Quicken everything they needed the same day via email and by overnight FedEx. We received a call from our newest Quicken contact and he told us he had received everything and things should move ahead very fast now. Our attorney still had not heard from Quicken about a closing date, and it was mid-March.
The last week of March we received a call from a new contact person at Quicken. He told us the loan has been put on hold because we never sent them any of the documents we were asked for. I told him that we sent everything both email and FedEx the same day the documents were requested. He said they cannot find any of them.
Since the loan had now passed through five different people at Quicken, our paperwork had been lost and no one knew who to blame. We told the new contact the name of the person that let us know he had received all of the documents and he no longer worked for Quicken. We sent another FedEx overnight to Quicken, and our attorney notified us that she had now been contacted about a closing date. We finally went to closing in early April.
Our 30-day closing turned out to be just over 100 days. Quicken told us we would be receiving a customer satisfaction survey soon after we closed on the loan but that never happened. I'm sure they didn't want to hear the truth.
Bottom Line: No, I would not recommend this to a friend
