Quicken Loans Fraud Costs Single Dad With 4 Kids His Home
Quicken Loans Fraud On FHA Loans Is Costing Florida Dad With 4 Kids His Home
Quicken Loans fraud on FHA loans is what is engineered to amaze.
Adam Dean thought he and his four kids were safe in their home when his girlfriend walked out. Now she is trying to evict them from the home and she's using Quicken Loans fraud as her weapon of choice.
The story begins in May of 2013 when Adam and his then-girlfriend Danielle Headrick called and spoke to Andrew Kuhn at Quicken Loans in Detroit about refinancing her home.
Kuhn put the couple into a 15-year FHA loan for $41,259.00 with a fixed interest rate of 3.75%. The closing documents indicate Andrew Kuhn did nothing wrong. The Quicken Loans fraud happened after the loan went into underwriting. The fraud also includes Dan Gilbert-owned title company, Title Source.
People think FHA loans are still reviewed by real people. They are not. Mortgage underwriting is all automated and approval is based on the information keyed into the system by the originating lender.
It appears the Dean/Headrick loan was only approved because Quicken Loans fed fraudulent information into the FHA automated approval system.
FHA guidelines require non-married couples (gay or straight) to qualify for the loan individually. They can both be on title and on the mortgage and note together. However, they must qualify individually in case of a breakup.
Quicken Loans didn't do this. Instead, Quicken Loans underwriters treated them as a married couple. They used Adam's income to qualify the two of them for a loan. Danielle was not working and had no income. Quicken knew FHA would deny the loan because of Danielle's lack of income. So they conveniently left it out and submitted the loan request as a married couple.
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