Yahoo! Answers*

Question:

Does anyone know the actual reason that David Hall and his entire team got fired from Quicken Loans last week?

I did my home loan with Quicken Loans/Rock Financial and see David Hall on T.V. quite often. I read that he was fired and members of his team were escorted out as well? I'm wondering if anyone out there knows what happend? I'm curious about what this means for the company and the example they set? Fraud? Embezzlement ? What was it? Thanks.

Answers:

1) Although I wish I knew the actual answer to your question- I can only assume that it had to deal with aggressive marketing of Interest only loans- Courtney Kostelecky Founder DebtFreeNews.com

2) Quicken loans is the "knowledge Partner" here so I'm sure you will get an "answer" soon. I can't wait to hear the "answer."

3) A "no details article" :http://crainsdetroit.com/apps/pbcs.dll/article?AID=/20071217/REG/599834983/1009/breaking/-/-/hall-out-at-rock-financial Sounds like an invitation was given for his departure.

4) He was fired because he threw Rock under the bus during a deposition for a law suit.

5) Out of respect for the privacy of our team members, we simply don't discuss the reasons for anyone's departure from the company. That said, you can be assured it did not involve mortgage fraud or allegations of this sort and will not impact the company.

6) I found this info posted, I'm just reposting: "Was talking with some contacts at Quicken yesterday and got the down low on what happened... Quicken's decided to stop using the name Rock Financial once their partnership with the Detroit Pistons is up... Hall wasn't too happy about it and started recruiting people within Rock to open up his own shop. Quicken got word and on Friday afternoon, security confiscated Hall's computer, blackberry, etc. and escorted him out of the building. Hall was said to have left the building steaming and was quite vocal. I've heard from more than one person that David Hall's grown quite an ego over the years... It will be interesting to see what happens as I personally believe that his recognition will hurt more than help him in his future endeavors..."

*The answers on this page are supplied by users of the Yahoo! Answers forum or by visitors to this site. CreditOptions does not necessarily endorse or agree with the answers provided.