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Dan Gilbert maintains a pretty squeaky image. Good man, cares about the city, has built his millions from scratch, and his companies are places that are regularly ranked as super-duper great places to work. Quicken Loans, in particular, is touted not only as a good company for employees, but a good company for America.

Of course, it’s a lending company, and despite Gilbert’s claims that Quicken isn’t like those nasty banks that suckered poor Americans into sub-prime loans, it appears all isn’t rosy, and in fact, that Quicken was just as slimy as the rest of the bunch.

A trial begins next week involving several former employees who are suing Quicken Loans for withholding overtime pay and accusing the company of “bullying homeowners into high-interest-rate loans or otherwise inflated mortgages,” according to Deadspin.

This article appears in Feb 2-8, 2011.

Vince Grzegorek has been with Scene since 2007 and editor-in-chief since 2012. He previously worked at Discount Drug Mart and Texas Roadhouse.

9 replies on “Quicken Loans Being Sued By Former Employees Alleging Predatory Lending Practices”

  2. I’d like to see evidence that such actions were the result of a directive from Dan. Any company has its bad apples, and Quicken Loans is no different.

  3. with his rant about lebron. I’m not surprised! just like the rest..P for Predatory! Prodatory Loan arena!

  4. From my perspective, Gilbert is far removed from Quicken Loans day to day business these days. He is an amazing man with great vision and heart. His new agenda involves philanthropy. As for the company, I find it hard to see the company rated highest in satisfaction by JD Power and associates dragged through the mud…especially since the opinions of our closed clients determined that distinction. This job is a demanding one. We make sacrifices to do what we do for Quicken. It is a choice that an individual makes. It isn’t for everyone.

    As for the predatory lending statement…we are the most conservative lender in the business today. We provide the “Black Card” of mortgages. We aren’t the easiest company to get approved with, but if we can approve you…we will care for you like no other.

  6. Gilbert is a crook. Seriously, you’ll start seeing more and more comments about “Gilbert is not involved in the day to day business,” because he is trying to distance himself from the company. Why would he distance himself? Because the current FLSA lawsuit is exposing all the fraud the company was involved in. Seriously, they set out to rip people off and so far have got away with it. At some point, the government will quit turning a blind eye to it and start an investigation. If they do investigate, there is a good chance that the executives of this company will be charged with several felonies including fraud and violating antitrust laws. Just yesterday, a judge in West Virginia ordered Quicken Loans to pay out over 2 million to someone they ripped off…. The attorney fees alone were over 600k… You won’t see a ton of these lawsuits because most people don’t have money needed to battle Quicken Loans. Its too bad because there are probably thousands more that should sue them but can’t afford it…

  8. Oh, i’m sorry, this was before the casino. NOW the waterfall of money is pouring in. When will Gilbert build his Scrooge McDuck money bin?

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