Tuesday, March 31, 2009

Quicken math not Rock solid?

Detroit, famous for the Purple Gang (extortion, gambling and robbery) during the last Depression, celebrates the new Depression with a new generation of characters with unsavory behavior. A couple of Detroit's mortgage titans apparently are having a falling-out:

It appears to be business as usual for them, though. On the Quicken.com page, they say: "501 of 511 (98%) of our customers said they would recommend Quicken Loans to a friend or family member." Yet they show their rating as: "Average Customer Rating: 4 out of 5". That works out to them being rated at 80%. Something is strange about this math. Perhaps this is the root problem at these mortgage firms - their fuzzy math. The collapse of our Economy is due to simple math errors compounded throughout the mortgage industry? Or... maybe 98% of Quicken's customers that couldn't rate the company higher were happy to recommend them to a friend or family member?

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