Posted by HisHughness on 8/1/11 4:38pm
Msg #392211

Quicken Loan closings

Recently I posted an account of a Quicken Loan refi closing on my daughter's home. I was impressed with the professionaism displayed by the loan officer, and were that the only criterion would unhesitatingly recommend Quicken.

However, if you recall, Title Source, which is the Quicken in-house TC, sent a signing agent to the closing who was so ill-prepared he did not even know how to swear a signer, and in fact did not know what a jurat is. There were other issues also.

Well, Title Source has informed me that they have now removed that NSA from their database. However, they have failed to address the fundamental problem, which is that only notaries of the caliber we got are going to be willing to accept their anemic fees.

Consequently, if you want to be assured that your closing will go smoothly and <that there will subsequently be no problems that could invalidate your closing documents>, I would definitely not recommend Quicken.

Reply by MikeC/NY on 8/1/11 4:49pm
Msg #392213

Did Quicken have anything to say about your experience?

It sounds like they have a great product, professional loan officers, everything is peachy - and then they drop the ball at the 5-yard line.

Reply by SueW/Tn on 8/1/11 4:56pm
Msg #392215

I did a ton of Quicken loans 2 years ago and they had no trouble increasing the fee with regards to distance. I personally loved them because they were super quick, easy and 98% of the time the LO has really done his homework with the BO's. I think out of the 400 assignments I did for them I only had one tank at the table. I even did several repeats with BO's because at the time (may still do it, dunno) Quicken would notify the BO if rates fell and they qualified...NO COST to BO. I had several BO's take my information and pass it to their friends, as long as the NSA is qualified with Quicken the BO can request a specific SA. They paid like clockwork, I don't think I ever had a problem with the documents which are almost always overnighted and never had to travel over 10-15 miles. I got a tiny bit more than the usual but certainly nothing to brag about. Quite honestly I'd take 4 of theirs over 1 $150 e-doc refi but I haven't done alot with them with Mom on such shakey physical condition. I'm glad you were able to "assist" in weeding out a poor NSA, everyone that does their loans isn't a complete incompetent but like everything else, there's one bad apple in every bunch.

Reply by HisHughness on 8/1/11 5:03pm
Msg #392217

The Title Source website lists $65 as their fee. In order to save a few dollars on a notary public, in other words, they are willing to jeopardize what for most people is their largest single investment.

Reply by Heather Smith on 8/2/11 8:42pm
Msg #392387

Sue, I agree with you. The Quicken loans I have done through Title Source have been a breeze. So easy! I am in and out no surprises whatsoever, and the Borrowers often rave about the experience Quicken provides. Many times docs are overnighted, but once in a while edocs with additional fee for me.
I snap them up in a heartbeat.
They've all been pretty close, so I haven't asked for an extra travel fee yet...

Reply by Glenn Strickler on 8/1/11 5:24pm
Msg #392219

I have only once been offered anything more than fifty bucks for a loan closing. So, I have only done one, and that wasn't worth the money because they sent the borrower the documents. When I got there, they had both packets open, had mixed them up, signed them etc. A real joy. JMT was the ss than had the quicken contract here.

A couple of years ago, I used Quicken to re-fi our current loan. Everything went very well until the closing. The notary was very green, but we got through it. I don't recommend Quicken either, and I wrote them as stated why.

Reply by Linda_H/FL on 8/1/11 5:29pm
Msg #392221

Until my recent Quicken deal with Title Source

the only ones that ever offered me a Quicken closing was Nations Direct and they never offered more than $50 - I never accepted. Title Source paid me well and in 30 days for the o/n docs to the borrower closing - my fee was over $100.

I'd love to do more Quicken loans - easy, clean, no loose ends - oh, except the husband never told wifey they were refinancing til we sat down at the table!! She hadn't looked over docs yet. But that's another thread for another day...

Reply by Arnold Mclellan on 8/2/11 9:08am
Msg #392265

Have been luckey with Quicken / Title source /JMT closings agree fee is low at 65.00 or 85.00 for e-docs but loans are clean Bo are informed of all the numbers ah signings take about 15 minutes, nice an easy no issues / take them all day long lol

Reply by SusieTN on 8/2/11 9:26am
Msg #392268

I'm with you Arnold. I find them short and sweet and payment within 2 to 3 weeks!!! I would do them all day, as well!!

Reply by Susan Fischer on 8/1/11 5:29pm
Msg #392222

Used to do a ton of Quickens, loved 'em, loved the pens,

loved the borrower's packet, loved everything.

Always met my fee, paid quick as a bunny.

So sorry to hear about the sad demise of what used to be easy peasy, fast-fast-fast process for borrowers, no hassles service.

Boo hiss.

Reply by John Schenk on 8/1/11 7:07pm
Msg #392238

Re: Used to do a ton of Quickens, loved 'em, loved the pens,

Still get a couple Quicken loans a month and they're the easiest of all, and they pay my regular fee. Under 100 pages, and a nice, clean, set of docs. I hope to do Quicken loans on a broader scale soon.

JJ

Reply by MichiganAl on 8/2/11 2:33am
Msg #392259

No demise

I do Quicken closings almost every day. Their clients still rave about how streamlined and efficient the process is. They're the most satisfied borrowers I see.

Reply by Susan Fischer on 8/2/11 8:06am
Msg #392263

Aces, Alex. Glad to hear that. Happy borrowers make

happy signings.

Reply by Jessica Ward on 8/1/11 9:27pm
Msg #392249

I've done a couple of Quicken loans recently, but they came through my regular TC channels, not directly from Quicken or Title Source. I remember them because they were really easy. Not gobs of junk docs or anything. Good stuff!

Reply by pat/WA on 8/2/11 11:24am
Msg #392291

I signed Quicken Loans through JMT for years.