BBB Accredited Business Profile

Quicken Loans, Inc.

Quicken Loans, Inc.

(313) 373-3000

Quicken Loans, Inc.

32 years in business
1050 Woodward Ave
Detroit, MI 48226-1906
Fax Numbers
  • (734) 805-7073
Additional Phone Numbers
  • (248) 427-3300
  • (800) 226-6308
  • (248) 451-5400
  • (800) 731-7625
  • (248) 312-1600
  • (734) 462-1431
  • (216) 586-8900
  • (313) 359-0170
  • (313) 359-2012
  • (800) 981-6144
  • (800) 603-3922
  • (734) 805-5000
  • (248) 796-6000
  • (734) 805-5472
  • (248) 796-6466
  • (248) 974-4927
  • (734) 805-7090
  • (248) 796-6046
Additional Email Addresses
BBB File Opened: 02/20/1986
Business Started: 06/21/1985
Business Started Locally: 06/21/1985
Business Incorporated: 06/21/1985 in MI
Type of Entity
Business Management
  • Mr. Scott King, Director of Client Relations
  • Mr. Bill Emerson, Vice Chairman, Rock Holdings, Inc
  • Mr. Jay Farner, CEO
Business Category
  • Consumer Finance & Loan Companies
  • Financing
  • Loans
  • Mortgage Brokers
  • Financial Services

Products & Services
Rocket Mortgage
Service Area
We service the following area(s): Alabama, Alaska, American Samoa, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virgin Islands, Virginia, Washington, West Virginia, Wisconsin, Wyoming
Alternate Business Names
  • Quicken Loans
Licensing, Bonding or Registration
This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

Alerts & Actions

Government Action

United States v. Quicken Loans, Inc. - Civil Action No. 15-0613
Department of Justice
Office of Public Affairs


Thursday, April 23, 2015

(excerpt follows)

The United States has filed a complaint in the U.S. District Court for the District of Columbia against Quicken Loans Inc. under the False Claims Act for improperly originating and underwriting mortgages insured by the Federal Housing Administration (FHA), the Justice Department announced today.  Quicken is a mortgage lender headquartered in Detroit.

Quicken participated in the FHA insurance program as a direct endorsement lender (DEL).  As a DEL, Quicken had the authority to originate, underwrite and certify mortgages for FHA insurance.  If a DEL such as Quicken approves a mortgage loan for FHA insurance and the loan later defaults, the holder of the loan may submit an insurance claim to the U.S. Department of Housing and Urban Development (HUD), FHA’s parent agency, for the losses resulting from the defaulted loan.  Under the DEL program, neither the FHA nor HUD reviews the underwriting of a loan before it is endorsed for FHA insurance.  HUD therefore relies on DELs to follow program rules designed to ensure that they are properly underwriting and certifying mortgages for FHA insurance. And, to that end, a DEL must certify that every loan endorsed for FHA insurance is underwritten according to the applicable FHA standards.

The government’s complaint alleges that, from September 2007 through December 2011, Quicken knowingly submitted, or caused the submission of, claims for hundreds of improperly underwritten FHA-insured loans. The complaint further alleges that Quicken instituted and encouraged an underwriting process that led to employees disregarding FHA rules and falsely certifying compliance with underwriting requirements in order to reap the profits from FHA-insured mortgages.  For example, Quicken allegedly had a “value appeal” process where, when Quicken received an appraised value for a home that was too low to approve a loan, Quicken often requested a specific inflated value from the appraiser with no justification for the increase– even though such a practice was prohibited by the applicable FHA requirements.  Quicken also allegedly granted “management exceptions” whereby managers would allow underwriters to break an FHA rule in order to approve a loan.

The government’s complaint alleges that Quicken’s senior management was aware of these and other problems.  The complaint alleges that Quicken’s Divisional Vice President for Underwriting, the second most senior executive in Quicken’s Operations Department, wrote in an email discussing the value appeal process that “I don’t think the media and any other mortgage company (FNMA, FHA, FMLC) would like the fact we have a team who is responsible to push back on appraisers questioning their appraised values.”  In another email, the same Divisional Vice President for Underwriting wrote to a group of Quicken executives stating that 40 percent of the management exceptions on FHA’s early payment defaults should not have been granted, adding: “we make some really dumb decisions when it comes to client service exceptions.  Example, purchase loan we pulled new credit and the client stopped paying on almost everything and the scores fell by 100 points, we [still] closed it.”  In yet another email discussing an FHA loan, the Operations Director, a senior level executive, explained that the loan was approved based on “bastard income,” which he described as “trying to put some kind of income together that is plausible to the investor even though we know its creation comes from something evil and horrible.”

The government’s complaint alleges that as a result of Quicken’s knowingly deficient mortgage underwriting practices, HUD has already paid millions of dollars of insurance claims on loans improperly underwritten by Quicken, and that there are many additional loans improperly underwritten by Quicken that have become at least 60 days delinquent that could result in further insurance claims on HUD.  For example, the government’s complaint identifies a borrower whose bank account statement showed overdrafts in multiple months and during the loan application process requested a refund of the $400 mortgage application fee so that the borrower would be able to feed the borrower's family.  Nevertheless, Quicken allegedly approved the loan.  The borrower made only five payments before becoming delinquent and as a result, HUD ultimately paid an FHA insurance claim of $93,955.19.  In another example, the complaint identifies a loan where the borrower was cashing out equity through a cash-out refinance.  Allegedly, Quicken originally received an appraised value of $180,000, but because the borrower wanted to receive more cash, Quicken requested the appraiser to inflate the value by $5,000.  The appraiser allegedly provided Quicken’s requested value of $185,000 even though the only difference between the two appraisals was the appraised value the comparable sales analysis, and even the date of the appraiser’s signature, remained the same.  Quicken allegedly used the inflated appraisal value to approve the loan.  The borrower was delinquent on his first payment and as a result, HUD ultimately paid an FHA insurance claim of $204,208. 

The complaint further alleges that Quicken failed to implement an adequate quality control program to identify deficient loans, and that Quicken failed to report to HUD the loans it did identify.  In particular, according to the government's complaint, despite its obligation to report to HUD all materially deficient loans, during the period from September 2007 to December 2011, Quicken concealed its deficient underwriting practices and failed to report a single underwriting deficiency to the agency. 

The investigation of this matter was a coordinated effort among HUD-Office of Inspector General, HUD, the U.S. Attorney’s Office of the District of Colorado and the Civil Division’s Commercial Litigation Branch.

The action is captioned United States v. Quicken Loans, Inc. (D.D.C.).  The claims asserted in the complaint are allegations only and there has been no determination of liability. 

Updated April 23, 2015




The government initiated this action against Quicken Loans Inc. ("Quicken") pursuant to the False Claims Act, 31 U.S.C. §§ 3729-3733 (2012), Complaint ("Compl.") ¶ 1, alleging asserts that, between September 1, 2007, and December 31, 2011, Quicken "knowingly approved loans that violated FHA [Fair Housing Act] rules while falsely certifying compliance with those rules," id., which permitted Quicken "to profit from these loans, even if borrowers defaulted on their mortgages, while placing all of the risk" on the federal government, id. ¶ 2. Currently before the Court is Quicken Loans Inc.'s Renewed Motion to Transfer this Action to the United States District Court for the Eastern District of Michigan ("Def.'s Mot."). After careful consideration of the parties' submissions, the Court concludes that it must grant Quicken's motion, and transfer this case to the United States District Court for the Eastern District of Michigan. 


The Court concludes that the balance of factors outlined in § 1404(a) weighs in favor of Quicken's position, and therefore the Eastern District of Michigan is the appropriate forum for the adjudication of this case in light of its more substantial nexus to the factual circumstances of this case. Although the convenience and governing law factors are neutral, and the relative congestion factor weighs slightly against transfer, the parties' choices of forum, where the claims arose, and the local interest in deciding local controversies in the jurisdiction where they arose weigh in favor of transferring this case to the Eastern District of Michigan because the alleged unlawful activity occurred in or near Detroit. Accordingly, the Court grants Quicken's motion to transfer this case to the United States District Court for the Eastern District of Michigan. 

SO ORDERED this 14th day of November, 2016.


United States District Judge


Government Action

DFI Settles Charges With Quicken Loans


Quicken Loans Agrees To Contribute $250,000 To Financial Education


Olympia, WA – The Consumer Services Division of the Washington State Department of Financial Institutions (DFI) has settled its charges that Quicken Loans, Inc. targeted Washington service members and veterans with false, deceptive, and misleading mortgage offers. In resolving the charges, DFI has received assurance that Quicken Loans will comply with state and federal advertising law going forward.

“Quicken Loans cooperated with our investigation, responded promptly to the agency’s charges, and made significant changes to their advertising compliance systems,” DFI Consumer Services Director Charles Clark said. “Their payment will go toward DFI’s financial education efforts and will benefit Washington consumers - including our substantial veteran and service member community.”

The Consent Order provides that Quicken Loans is subject to a compliance examination to ensure its new advertising policies, procedures, and testing systems are working to prevent future advertising violations.

“Our laws impose strict standards when it comes to advertising financial services, and enforcement actions like this one should serve as an important reminder to financial service providers to ensure all of their ads are compliant with such laws,” DFI Director Scott Jarvis noted. “We have no tolerance for deceptive marketing and will continue to take action when we see it.”

Media Contact

Lyn Peters, Director of Communications
PH (360) 902-8731 or

DFI Main Phone Number
1.877.RING DFI (746-4334)

Quicken Loans, Inc.

Quicken Loans, Inc.


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