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  • Report:  #384278

Complaint Review: Quicken Loans - Rock Financial

Quicken Loans - Rock Financial Former employee. They lied to customers all the time Livonia Michigan

  • Reported By:
    Silver Spring Maryland
  • Submitted:
    Fri, October 24, 2008
  • Updated:
    Sun, November 30, 2008
  • Quicken Loans - Rock Financial
    www.quickenloans.com
    Livonia, Michigan
    U.S.A.
  • Phone:
  • Category:

I worked for Quicken Loans over three years ago back when they were on the very top of the mortgage game. I worked as a processor and it was such a stressful job. I would have never taken that job if I would have known that I was going to be lying to people all day long. The bankers would become angry if you tried to remove all of the ridiculous fee's that they had tacked on to the loans to make more money for the company. They took advantage of people who were in financial crisis and who were uneducated when it came to refinancing loans. It was the most draining experience in my life and eventually I just couldnt take it anymore. I am not suprised at all of the things I have heard lately about the company and the fraud and lawsuits. I do not know how most of the management of that place even slept at night. For anyone thinking of getting a mortgage with Quicken Loans then please dont do it and look elsewhere. If you are thinking about taking a job with this company then dont bother with that either. I worked over 50+ hours a week and almost ruined my marriage for this company.

Jamie
Silver Spring, Maryland
U.S.A.

7 Updates & Rebuttals


Steven

Sagamore Hills,
Ohio,
U.S.A.

Dan Gilbert Takes Care of Himself

#8UPDATE EX-employee responds

Sun, November 30, 2008

I can rebute this easily. If someone takes the jobs, works the ridiculous hours and in the midst of the worst mortgage meltdown ever has production drop off after 3 or 4 month on the job, then be told that they are not producing at a high enough level. Then they are let go. The biggest crime is greedy Gilbert fights unemployment. They try to slip all kinds of papers in front of employees to sign to cover their a*s. About half the telemarketers,...er, bankers are fired within a few months and this jerk is quoted in the papers stating how proud he is they didn't have to lay off a single person during the crisis. He is scum and that CANNOT be debated. Congrats on being in the coke/red bull club and getting layups handed to you all day!
Quicken is as guilty as anyone in the bad loan crisis. They are just fortunate to be a BROKER and not a real lender and get stuck with these loans when they hit the fan.


Happy Employee

Detroit,
Michigan,
U.S.A.

Hours worked

#8UPDATE Employee

Thu, November 27, 2008

If anyone has worked in sales prior to Quicken or knows of anyone that works or has worked in sales knows the hours are long. Any sales job your going to work long hours that's how it is. If you dont' like the hours don't take the job or leave the job. I've been with the company for 5 years. I have 3 kids, and I work hard, but I work smart, and I have time with my family. If your new that's a different story you have to build up a customer database, but your told what the expectations are take it or leave it. It is good money I know a lot of people that work in car sales their working those same hours sometimes more and making 40-60K. I'll take a three figure pay check and the best benefits any company has to offer. Dan Gilbert takes good care of us I don't see how anyone could rebutle that.


J

Belleville,
Michigan,
U.S.A.

Define a very good living????

#8UPDATE EX-employee responds

Thu, November 20, 2008

I have read a few of your posts that you say the same thing in. "if you don't mind the 60+ hours a week 6-7 days, etc.... you can make a pretty good living."

Here is how I defined, when I worked at QL if I was making good money based on the amount of hours I worked:

When you can make $40-$50 or more per hour, you are making good money for what you do.

I worked 50-55 hours per week, some times even less to make that on an hourly basis. I made over 100k/year. Yes, that is what my W2 said. I made 5 figure checks.

So.... here's your reality check. Let's look at a Senior Banker. 26k/year Average commission check of $2500/month. That would be about $4600/month or 56k/year.

In order to make that kind of money at the $40/hour rate, they would have to work about 53 hours per week. Not horrible, but still a lot of hours. There are no many people making that type of money. Now, let's look at 60 hours a week. Still at about $36/hour.

So, if you work less hours and make the same amount, you simply make more money on an hourly basis. Simple math. So if you want to work 60 hours a week, you better make sure you are making between 62-78K/year to justify the hours.


J

Belleville,
Michigan,
U.S.A.

Define a very good living????

#8UPDATE EX-employee responds

Thu, November 20, 2008

I have read a few of your posts that you say the same thing in. "if you don't mind the 60+ hours a week 6-7 days, etc.... you can make a pretty good living."

Here is how I defined, when I worked at QL if I was making good money based on the amount of hours I worked:

When you can make $40-$50 or more per hour, you are making good money for what you do.

I worked 50-55 hours per week, some times even less to make that on an hourly basis. I made over 100k/year. Yes, that is what my W2 said. I made 5 figure checks.

So.... here's your reality check. Let's look at a Senior Banker. 26k/year Average commission check of $2500/month. That would be about $4600/month or 56k/year.

In order to make that kind of money at the $40/hour rate, they would have to work about 53 hours per week. Not horrible, but still a lot of hours. There are no many people making that type of money. Now, let's look at 60 hours a week. Still at about $36/hour.

So, if you work less hours and make the same amount, you simply make more money on an hourly basis. Simple math. So if you want to work 60 hours a week, you better make sure you are making between 62-78K/year to justify the hours.


J

Belleville,
Michigan,
U.S.A.

Define a very good living????

#8UPDATE EX-employee responds

Thu, November 20, 2008

I have read a few of your posts that you say the same thing in. "if you don't mind the 60+ hours a week 6-7 days, etc.... you can make a pretty good living."

Here is how I defined, when I worked at QL if I was making good money based on the amount of hours I worked:

When you can make $40-$50 or more per hour, you are making good money for what you do.

I worked 50-55 hours per week, some times even less to make that on an hourly basis. I made over 100k/year. Yes, that is what my W2 said. I made 5 figure checks.

So.... here's your reality check. Let's look at a Senior Banker. 26k/year Average commission check of $2500/month. That would be about $4600/month or 56k/year.

In order to make that kind of money at the $40/hour rate, they would have to work about 53 hours per week. Not horrible, but still a lot of hours. There are no many people making that type of money. Now, let's look at 60 hours a week. Still at about $36/hour.

So, if you work less hours and make the same amount, you simply make more money on an hourly basis. Simple math. So if you want to work 60 hours a week, you better make sure you are making between 62-78K/year to justify the hours.


J

Belleville,
Michigan,
U.S.A.

Define a very good living????

#8UPDATE EX-employee responds

Thu, November 20, 2008

I have read a few of your posts that you say the same thing in. "if you don't mind the 60+ hours a week 6-7 days, etc.... you can make a pretty good living."

Here is how I defined, when I worked at QL if I was making good money based on the amount of hours I worked:

When you can make $40-$50 or more per hour, you are making good money for what you do.

I worked 50-55 hours per week, some times even less to make that on an hourly basis. I made over 100k/year. Yes, that is what my W2 said. I made 5 figure checks.

So.... here's your reality check. Let's look at a Senior Banker. 26k/year Average commission check of $2500/month. That would be about $4600/month or 56k/year.

In order to make that kind of money at the $40/hour rate, they would have to work about 53 hours per week. Not horrible, but still a lot of hours. There are no many people making that type of money. Now, let's look at 60 hours a week. Still at about $36/hour.

So, if you work less hours and make the same amount, you simply make more money on an hourly basis. Simple math. So if you want to work 60 hours a week, you better make sure you are making between 62-78K/year to justify the hours.


Real World

Somewere,
Michigan,
U.S.A.

Not so true

#8UPDATE Employee

Sat, October 25, 2008

I have been with the company for some time now and we are held to the highest standers, so if you lied then shame on you.As for the hours, this is very true.If you are a banker, you will work 60+ hours a week anywhere from 9-8.

If you do not hit your numbers, then you will be told to work 6-7 days a week.I would not suggest that you take a job as a Mortgage Banker if you want to spend quality time with your family.If your single or dont mind the hours, you can make a very good living.

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