Mortgage -- Trouble during payment process -- Complaint #4508456
Complaint Overview
Complaint ID: 4508456
Company: Rocket Mortgage, LLC
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: Texas
ZIP Code: 75071
Date Received: 2021-07-01T12:00:00-05:00
Date Sent to Company: 2021-07-01T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I would like to get my PMI cancelled. My current principal balance is XXXX. I believe the market value of my home is greater than XXXX. For reference, Quicken 's own refinance tool estimates my home 's value at XXXX XXXX says XXXX. Quicken is stopping me from cancelling the PMI by stating that : 1. I must have the loan for 2 years before I can request a reappraisal 2. I must have done some major renovations / structural add-ons Neither of these are supported by the note or accompanying PMI disclosure I signed at closing. I'm also told that even if they did perform an appraisal, it would not be representative of the current market. XXXX that helped me stated that even though the houses around you are going for a more expensive amount, our appraisal will primarily just focus on the improvements you've made with little consideration for the actual market-value of the home.
Frequently Asked Questions
What is Complaint #4508456 about?
Complaint #4508456 was filed against Rocket Mortgage, LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2021-07-01T12:00:00-05:00.
How did Rocket Mortgage, LLC respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Rocket Mortgage, LLC?
Yes, visit the Rocket Mortgage, LLC company profile at readthecomplaint.com/company/rocket-mortgage-llc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.