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Quicken Loans Wins Back-To-Back J.D. Power Awards for Mortgage Servicing - Quicken Loans Zing Blog

As of December 19, 2017, MyQL is now referred to as Rocket Mortgage.

Going through the mortgage purchase or refinance process can sometimes be scary. It’s for this reason that you’ll want a mortgage company in your corner to take you through the twists and turns of each part of the process. You want the advantages that come from years of experience, with company qualities like customer service, convenience and access to technology, to name a few.

One important factor to consider when selecting a mortgage company is whether or not the company services loans. A mortgage company that will service your loan after you close can be a huge benefit, but you have to know what to look for.

What Is Mortgage Servicing?

Your mortgage servicer manages your mortgage from just after closing until the loan is paid off. A few responsibilities of a mortgage servicer include:

  • Collecting monthly payments
  • Maintaining records of payments and loan balances
  • Providing timely communication
  • Paying taxes and insurance
  • Overseeing the escrow and impound accounts
  • Following up on delinquencies

For example, Quicken Loans is a mortgage servicer, responsible for both lending you the money to finance your mortgage and managing the payments until closing. So instead of your mortgage ending with the premise of low rates, you’ll receive outstanding service throughout the life of your loan.

Benefits of Quicken Loans Servicing

Now that we’ve distinguished the difference between a mortgage lender and servicer, let’s examine the qualities you should look for when choosing a mortgage company for your loan.

Fewer Servicing Fees

Quicken Loans charges fewer servicing fees than most other servicers. Most importantly, there’s no charge to make a payment on your mortgage, whether over the phone or online. This free service can save you hundreds – even thousands – of dollars over the life of your loan, as most servicers charge clients to use their payment options, like paying over the phone or using their websites.

That said, when choosing a mortgage company, make sure you ask about any additional fees that will be added on top of your mortgage payments.

Multiple Payment Options

Convenience is an important factor when comparing different mortgage lenders and servicers.

On top of checking out the servicing fees, you’ll want to explore the payment options provided by the servicer in question, such as over-the-phone payments and recurring payment schedules.

Quicken Loans, in addition to having no service charges for a payment, provides several different payment options, such as a pay-by-phone option and the option to set up a one-time payment or autopay via your online account. You can even set up biweekly payments through your account.


When life gets busy, sometimes it’s hard to keep up with all the paperwork and payments that come with getting a mortgage. At Quicken Loans, you have access to a personal online account, allowing you the ability to:

  • Make and manage your payments
  • View your taxes and insurance payment history (if you have an escrow account)
  • View your loan information
  • Access your mortgage documents
  • Use our amortization calculator
  • Easily view and keep track of your home’s equity
  • See your neighborhood’s home values

It’s the 21st century, and it’s important for your mortgage company to recognize the value and convenience that can come with access to top-notch technology.

Client Experience

When searching for a mortgage company, you’ll want to choose one that goes above and beyond what’s typically expected during the home buying process. You’ll also want a company that cares about its clients.

Another feature of the Quicken Loans Servicing team is Operation Heart, an outlet for team members to reach out to clients and engage with them on a more personal level. Recently, Operation Heart team members sent a gift to a family whose loan is serviced by Quicken Loans, in celebration of their adopted children.

These actions are part of the initiative to find a better way to connect with clients and show that they care about all aspects of their life, beyond the mortgage experience.

Credentials and Awards

As the nation’s seventh-largest mortgage servicer, Quicken Loans has serviced more than 1.5 million mortgages since 2010, with a 96% satisfaction rate among serviced clients. 2
For the fourth year in a row*, J.D. Power ranked us highest in the nation for Mortgage Servicing. And for seven years in a row now, they also ranked Quicken Loans highest in the nation in customer satisfaction for Primary Mortgage Origination.

If you’re ready to make the leap into homeownership, make sure you do your homework. Many mortgage companies boast the “lowest rates,” but not all will talk about (or even offer) mortgage servicing. Make sure when you do choose a mortgage lender, you choose one that provides topnotch loan servicing so your home buying experience is a positive one.

What do you look for in a mortgage company? Let us know in the comments below!

1 Quicken Loans credits these payments to your loan on a monthly basis. You make the equivalent of one extra payment per year that is applied directly against your principal, thereby paying less interest over time.

2 Based on a Quicken Loans market research questionnaire of clients whose loans closed between 7/1/2016 and 12/31/2016.

Quicken Loans received the highest numerical score in the proprietary J.D. Power 2010 – 2016 Primary Mortgage Origination studies and the 2014 – 2017 Primary Mortgage Servicer studies. 2016 Origination (or Sales) based on 5,182 total responses and measures the opinions of customers who originated a new mortgage or refinanced within the past 12 months, surveyed in July – August 2016. 2017 Servicing based on 7,374 total responses and measures the opinions of homeowners on their mortgage servicing company, surveyed in March – April 2017. Your experiences may vary. Visit JDPower.com.

*As of 2018, Quicken Loans was ranked highest in the nation for Mortgage Servicing by J.D. Power for the fifth year in a row and highest in the nation in customer satisfaction for Primary Mortgage Origination for the eighth year in a row. 

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This Post Has 49 Comments

  1. Same here. My loan sold to Loancare. I’m living out of the country now and will be for quite a few years, and what’s interesting is I can’t even open the myloancare.com website ….. How should I pay my loan……

    1. Hi Seddie. We are sorry to hear about this. I am adding Loan Care’s customer service number to call if you continue having difficulty with their site. It is 1-800-274-6600.

      We want your experience to be as smooth as possible and will be notifying our team about the issues you’ve had. Thank you for letting us know. If you have any additional questions or need more assistance, please reach out to us

  2. It seems that QL is just doing what they want to do despite the complaints. As a practical solution I am wondering if we can close out the escrow account with Loancare and take care of the insurance and taxes payments ourselves since most of the issues relate to their poor payment record. Thanks

    1. Hi Lee:

      I’m sorry that you are frustrated. We have high expectations for the companies with whom we do business and want to ensure that you are happy with the service LoanCare is providing you. I am going to send your feedback to our team now and make sure that someone gets in contact with you. In the meantime, feel free to send us any additional questions you have.

  3. By far, LoanCare is one of the worst companies for mortgage servicing in the country. Not a good PR move for QL. I was very happy with QL service and there is nothing “Special” about my mortgage. Too bad, you guys were really on top with customer service and now….you just flushed your good reputation down the toilet! What were you thinking????

    1. Hi William:

      I do understand your feelings in this matter. I want you to know we remain committed to helping you with any questions you may have and working with you through this transition. We expect a high level of service from the people we do business with, and that includes LoanCare. I’m going to get this to our team to pass along your feedback and have someone reach out to you about what’s happening, but we’re still here to help!

    2. William, QL will contact you and basically tell you the same thing that Zing Admin wrote. Don’t get your hopes up that anything here is going to change. Unfortunately what’s done is done…

  4. I’m in the same boat as you all. Received the letter that my loan was also sold to LOANCARE, LLC. I’ve spoken with QL and have a feeling, based on our conversation, that they are absolutely aware of the issues and allegations surrounding LOANCARE, LLC. There is definitely something else going on behind the scenes with this sell. For QL to purposefully go into a partnership with a company as dishonest and poorly managed an LOANCARE, LLC is beyond reason and deserves a real explanation. One person I spoke to said they partnered with LOANCARE to unsure we receive the same level of service and commitment that we do from QL. Funny, JD Powers (2018) had QL ranked as the #1 mortgage servicing company with LOANCARE at or near the bottom. Something doesn’t add up.

    We’re 1 year from having our mortgage paid off and I fear this will be placed in jeopardy. My stomach is literally in knots over this.

    1. Hi Casey:

      I absolutely understand your concerns. However, we’ll continue to work with you to make sure that this process goes as smoothly as possible and that this doesn’t affect your future payoff. We expect anyone we work with to uphold a high standard of client communication and service. That said, I’m going to get your feedback to our team.

  5. I too received the letter that my loan was being sold to LOANCARE, LLC. I was able to get in touch with someone at QL who was as transparent as they could be, although I get a feeling, based on the conversation we had, that there is something deeper behind the reason(s) loans are being sold to LOANCARE. For instance, it was stated a few times “this was unforeseen”. Anyway, they, QL, know something is amiss with LOANCARE and they are aware of the issues, lawsuits, etc. I’ve never had a mortgage company sell a loan and then offer to be the advocate or voice between me and the new service provider should I have issues. However, QL is doing this (or at least that’s what they said they are doing). Anyway, I don’t know all the details but there is absolutely something odd going on here.

    1. Hi:

      I can tell you that we’re absolutely here to make sure there are no issues with your transition. I’m getting this over to our team so that they have your feedback. I can assure you that client service is our top priority and we expect the same from our partners. In the meantime, nothing is changing about the terms of your loan.

  6. Like others, I received a letter today stating that my loan servicing was sold to LoanCare, LLC. Who can I contact at Quicken to stop this from happening? My payments are always on time and include extra principal. Very disappointed with Quicken if this is how they’re going to treat loyal customers.

    1. Hi Jesse:

      While we are transferring servicing on a certain percentage of our loans, I want to assure you that we expect a high level of service from our partners. Additionally, we’ll work to support you in this transition. We’ll work to answer any questions you might have at any time. That said, I certainly understand how you feel. I’m going to give this to our Client Relations team. Thank you for reaching out!

  7. Same story here as everyone else! Quicken transferred my mortgage to Loancare LLC which is 1 star on BBB website. It’s absolutely shocking that Quicken would even do business with such a crooked company. Reading their complaints alone is giving me anxiety. The biggest complaint is that customers are making their payments ON TIME or even EARLY. Loancare LLC is misapplying payment dates. Not paying people’s property taxes out of escrow. Many pending lawsuits. I absolutely cannot believe Quicken would do this to us.

    1. Hi Allen:

      I’m going to get your feedback to our team. I absolutely understand where you’re coming from. I will tell you that we will always be here to work with you through any problems with the transition. Going forward, we can work to answer or get answers to any questions you may have. We still want to provide you with a high level of service.

  8. This is getting interesting. I just got the same email today alerting me that my servicing is being transferred to LoanCare which has a sub-stellar (actually really bad) reputation. We have standard 15 year mortgage and have always been current on all payments. When I chatted with Grady at Quicken tonight, he told me it is too late to stop the transfer. But QL is not being absolutely honest with the public. I absolutely can’t recommend QL anymore, and we were even considering another mortgage with them soon.

    1. Hi Patrick:

      I understand your frustration. While a certain percentage of our loans are having the servicing transferred, we’re notifying you of the change and want to be transparent with you throughout this process.

      We do appreciate your feedback and will be passing it along. Also, will always be around to answer any and all questions you may have at any time. We remain committed to a high level of client service. Thank you for reaching out!

  9. Same story here. Quicken Loans just sold my mortgage to Loancare LLC. It so disappointing and awful that a reputed company like Quicken Loans will sell the mortgage to a company with 100% negative reviews.. I had absolutely no issues with Quicken Loans for the last few years but will never recommend it to anyone ever…

    1. Hi Mustali:

      I want to reinforce that we will be around to work with you if any issues come up and we absolutely value your business as a client. While this process is happening, we will be happy to help you with the transition as well as being around to answer any questions in the future. I’m passing along your feedback.

  10. I was really disappointed to receive a letter stating that my loan will now be serviced by Loan Care. As previous customers above stated – do not trust this article, as it is false advertising. I actually wanted to have a Quicken loan specifically after having dealt with crappy servicing on previous mortgages. I was quite happy with Quicken and Loan Care has a terrible reputation. Now I feel extremely dumb for having recommended Quicken to friends….

    1. Hi Anna:

      I want to first say that I absolutely understand where you’re coming from. We’re passing along this feedback to our team. At the same time, I want you to know that we remain committed to working with you. We want this transition to go smoothly for you. If you ever have any trouble with your loan, you can still reach interest and we’ll work to help answer any questions you ever have.

    1. Hi Rick:

      Depending on the purpose of the loan, the payoff of debt could be a condition of getting the loan or something that’s done after you get the loan in order to put you in a better financial position through a debt consolidation. I’m going to get this over to our Client Relations team who can take a deeper look into your file and give you more information.

    1. Hi Peter:

      We follow state regulations regarding this. In your case, we see you have a lead in our system. We do pay interest in California.


  11. What is the reason for some loan being transferred, Is it because they are late on their mortgage payments ?

    1. Hi Leroy:

      We would be happy to look into this for you and see about the circumstances. Thanks for reaching out! I’ll get this to our team.
      Kevin Graham

    1. Hi Catherine:

      All verse servicing is handled online and over the phone by our US-based team. Our online portal is MyQL. Have a good night!

      Kevin Graham

  12. I’ve been meaning to ask that question too. “… service as many as we can…” means that Quicken does transfer some of their mortgage loans. Correct? Thanks. ED

    1. Hi Ed:

      We do transfer the servicing on a certain number of loans. No matter what, we’re here to answer your questions and help you at any time.

      Kevin Graham

      1. Thanks. Were you able to find the answer to Cheri’s question regarding the percentage of loans Quicken keeps or transfers? Call me curious. Thanks. ED

        1. Hi Ed:

          While we do sell some of our servicing rights, we will always work with you to make sure your process is smooth. We value the relationship with all of our clients.
          Kevin Graham

  13. What percentage of loans written by QL are actually kept and serviced by QL through the life of the loan? vs. how many are transferred to another servicer, other than QL?

    1. Hi Cheri:

      I don’t have the exact numbers, but I can tell you that we service as many as we can. I’m going to have someone reach out to you and see if we can offer more information.

      Kevin Graham

    2. Dont trust this article. Quicken loans just sold my mortgage a terrible company named LoanCare LLC. Read about them on the BBB and other sites they are awful.

      1. Hi Scott:

        While we are transferring the servicing rights on a certain percentage of our loans, we remain committed to a high level of client service and will help you through this transition. That said, I’m passing along your feedback and we’ll be having someone reach out.

        1. I’m in the same position as Scott and I’d be interested to know why Quicken Loans decided to transfer the servicing. I’ve been extremely happy with QL and have sung your praises (and handed out referral cards) to my friends when they look for a mortgage. I am set up on autopay and have called customer service twice in my entire history as your client, with both issues easily resolved, so it’s not like I’m a problem customer or expensive to service.

          QL brags about it’s well-deserved JD Power Customer Satisfaction ranking. Contrast with LoanCare, which has terrible reviews and complaints over the past several years. Pawning us off onto such a terrible company doesn’t seem like a very QL-thing to do.

      2. Same here. It’s not lost on me that I contacted Quicken Loans customer support for the first time I can remember last week. The representative gave a spiel about how QL can’t handle the customer support load, so they’re offloading the servicing to “improve customer experience.” If I were a more cynical person, it would seem like they’re trying to get rid of customers that bother them, but perhaps it’s just a coincidence…

        1. Hi Reuben:

          I can tell you for certain that any loans being transferred are being done based on specific criteria that has nothing to do with anything a client has done. We will still be around to work with you through this transition, answer any questions and make sure everything goes smoothly. We appreciate each and every client who works with us! I’m going to have someone reach out!

      3. Same here. I just received a letter from Quicken Loans indicating my loan was sold to LoanCare LLC. Single family home, non-jumbo, 20 year fixed (started in fall 2016), no escrow, on auto pay since day 1. Nothing special or unusual. I have been very happy with Quicken Loans. I am NOT happy about the loan being sold to LoanCare who seem to have a terrible reputation. If this is a trend with QL, they are going to see their customer satisfaction scores decline.

        1. Hi Joseph:

          I absolutely understand your viewpoint here. We’re transferring servicing on a percentage of our loans, but I want you to know we remain committed to you, and we’ll be here to help you through the transition. Additionally, should you ever have any questions or if anything happens with your loan, we’ll still be here to help you out. I will be passing along your feedback to our team.

          1. I appreciate the phone call, e-mail and thread post, but you guys can’t have it both ways. The voice mail said selling loans was no big deal and “common in the industry” but QL touts they do so only under very special circumstances. How can it be both common and rare? Obviously there has been some change in QL policy and you are selling off run of the mill loans. So quit advertising that you don’t do that.

          2. Hi Joseph:

            I understand your viewpoint. This is a recent action we’re taking involving a certain percentage of our loans. Our messaging will be adjusted. However, I want you to know we remain committed to working with you throughout this transition. Additionally, feel free to reach out should you ever have any questions. I’m passing your feedback along to our team.

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