Before going with Quicken Loans, review my experience: • I paid Quicken Loans the required $500 upfront to get my home appraised & start my loan process.

• I am holding an appraisal from a local bank valuing my home at $560,000 in August 2011, about 100 days prior to the Quicken Loans Appraisal that came in at $450,000. Quicken Loans denied our loan on December 15, 2011 based on their appraiser’s value of $450,000.

• Based on the comps and methodology used to justify the $450,000 appraisal, the work completed by the appraiser is incompetent and Quicken Loans will not refund my $500 nor provide any other options.

After contesting the appraisal, Quicken Loans put it through an internal review, and on December 28, they replied with the following:

We have reviewed your concerns with the appraisal, but have not found that there is any demonstrable error or flaw in the appraisal report. The appraiser has provided some additional comments, which can be found on page 9 of the attached report.

We must rely on the professional opinion of the appraiser. We have reviewed the appraisal in light of your concerns and did not find the appraisal to be flawed. We are sorry that you are not satisfied with the appraisal, but we do not agree that a refund of the appraisal fee is warranted. Jeff Szerdi

Executive Office

Quicken Loans, Inc

Based on my experience along with other online reviews of Quicken Loans, if you go with Quicken Loans there is a chance you will get a low ball appraisal from an incompetent appraiser. Please take a look at my presentation and review the following details of comparable 1 of 3 (details on comps #2 & 3 to follow in subsequent decks). After paying Quicken Loans $500 upfront would YOU rely on the professional opinion of the Quicken Loans appraiser ?

Comparable #1 Provided by Quicken Loans

Comp #1 used by the Quicken Loans appraiser is a 3 bed 2.5 bath townhouse with 1624 sq ft. It sold for $390,000 in 61 days, 3 months prior to the Quicken Loans appraisal that was completed for my home. The comparable was built in the 70s, possibly remodeled in the 80s, and is 5 miles from my home. The Quicken Loans Appraiser gave our unit a +$62,260 “adjustment” over this comparable sale to bring our value to $450,000. Facts: 1. My home is 404 sq ft larger and upgraded to higher specs, 3 bed/3 full bath with a

complete remodel (all electric, heating, plumbing flooring, windows, and interior walls completed 2011) and an additional full bath along with numerous other features (see slide 8). 404 sq ft at a conservative $200 per sq ft is +$80,000. Extra full bath and complete remodel conservatively adds $85,000.

2. My home has 3 floors with panoramic, grade A views of Lake Tahoe. The Quicken Loans comparable only has one floor with a view and that view is grade B because it is at the tree line. (+$15,000)

3. My home is square within a prime location. It is ski in/out to a world class ski resort and walking distance to the Tahoe Rim Trail. The Quicken Loans comparable is not in a prime location and is 5 miles from accessing the ski resort and Tahoe Rim Trail. (+$20,000)

4. My home is one of very few in all of Lake Tahoe that is walking distance to a ski resort along with panoramic views of Lake Tahoe. ($ ?)

Based on the info listed on slide 9 and pictures provided in this presentation, I believe my home is easily $175,000 better than comparable #1 and definitely better than the meager $62,260 adjustment provided by the Quicken Loans appraiser. If you had a similar experience with Quicken Loans please share on Twitter with @Mukrakr

My Kitchen

Quicken Loans Appraiser’s Comparable Kitchen

Broken slate floors, custom cabinets with under cabinet lighting, Quartz counters, stainless appliances (side by side fridge, dishwasher, double oven, microwave), island with induction cook top and down draft venting, stainless farm sink.

Formica counters. 10+ year old appliances. 1980s cabinets

My Breakfast Nook and Formal Dining Area

Quicken Loans Appraiser’s Comparable Dining Area

Formal Dining area and custom bench

Formal Dining Area

Breakfast nook with custom bench

My master bath

Quicken Loans Appraiser’s Comparable

Lake Tahoe views from bathroom

Double vanity his/her sink with granite counter

Special order six foot Jacuzzi Tub

Walk in shower with rock pebble floor

Master bathroom with radiant heated slate floors, custom walk in shower and rain shower head.

My Living Room

Quicken Loan Appraiser Comp Living Room

Living Room Comparison

Living Room with A+ views of Lake Tahoe

Comparable view of Lake Tahoe is below tree line

My Master Bedroom

Quicken Loan Appraiser Comp Master Bedroom

Master bedroom with A+ views of Lake Tahoe

Additional Upgrades over Quicken Loans Comparable #1

Custom wood and slate stairs with fountain feature.

Broken slate floor bathroom #2 with tub to ceiling tile and granite counter

Custom built in for stainless wine fridge and wine decanter

Bar with sink, disposal, stainless under cabinet fridge, custom kegerator system, dimming under cabinet lights, quartz counter, textured glass cabinet doors.

Dedicated entry, broken slate floor, custom bench with storage, 6ft by 10 ft closet plus 10ft by 20 ft storage area.

Bath #3 with broken slate floor and granite counter

My Home vs. Comparable Used by Quicken Loans Appraiser

My Home • Can lights on dimmers throughout. Dedicated art lights on all 3 floors controlled by

master dimmer switch. • Ceiling fans each bedroom with speed and dimmer controls. • Brand new stainless appliances in kitchen (double oven, side by side fridge,

dishwasher, stainless farm sink). • Kitchen island with induction glass top stove with down draft venting and quartz

countertops in kitchen and bar. • Dimming under cabinet lights kitchen and bar area. • Brand New high efficiency gas forced air heat throughout • Brand new high efficiency gas hot water tank • Brand new high efficiency vinyl windows throughout • Recirculation pump for hot water to all fixtures • Custom built area for stainless steel wine fridge and wine decanter. • Wet bar with under cabinet stainless steel fridge and custom kegerator. • Panoramic views of Lake Tahoe from three levels & multiple rooms including: entry

area, kitchen, living room, dining room, breakfast nook, master bedroom and master bathroom.

• Master bath has 6 foot Jacuzzi tub with rain shower head in walk-in shower area; dedicated two sink vanity area

• Solid core wood French doors master bath providing access to deck. • Three full baths • Electric floor heating with programmable thermostat master bath • Broken slate tile throughout entire home • Dedicated entry area with custom bench with storage and closet • Ski-in/ski-out to world class ski resort (Heavenly Mountain Resort) along with trail

access to Tahoe Rim Trail. • Master bedroom walk in closet with custom shelving • Custom up/down window coverings throughout • Dedicated gas line stubbed to deck for bbq. • Custom stained solid core pine doors throughout • Custom benches in formal dining area and breakfast nook

Quicken Loans Appraiser’s Comparable

• No can lights. 1970’s Open beam ceilings. Cannot run wires or set lights when ceilings are open. Most lights are on a switch to a wall outlet.

• Baseboard heat • No recirculation water pump • Kitchen appliances 10+ years old. Single

oven, electric cook top w/ 2 coil burners and 2 glass burners.

• Bathroom 10+ years old. • Formica counters throughout