Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #4825050
Complaint Overview
Complaint ID: 4825050
Company: Rocket Mortgage, LLC
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
State: Texas
ZIP Code: 783XX
Date Received: 2021-10-19T12:00:00-05:00
Date Sent to Company: 2021-10-19T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I was 2+ months away from closing on my new home. I wanted to check to make sure the incumbent lender was providing me with the best rates. I searched online and landed on RocketMortgage website. I answered a few questions online and then got a call from XXXX at RocketMortgage. I told him that I was shopping for mortgage rates, however I had already selected a mortgage company that was associated with the builder. I told XXXX that besides the interest rate, he would have to overcome a {$2500.00} seller credit. The first estimate was better by an eighth of a percent with points paid, however without the seller credit, RocketMortgage wasn't competitive at all. I reject the offer. XXXX came back to me a few days latter stating that he got his directors approval for a better estimate. In the estimate had over $ XXXX in " Other credits ''. See attached. I told XXXX that I don't understand how his company can provide $ XXXX in credits. He stated that his company will make it back through the life of the loan. He then asked for a {$500.00} dollar deposit to lock me in. As we got closer to closing, I asked for the final numbers and the final numbers no longer had the $ XXXX in credits. I later found out the " Other credits '' were not credits from the lender, but estimates for how much of the prorated property tax I would get since I was planning on managing my own escrow. I went back to my original mortgage company, however the rates went up and I lost the {$500.00} deposit. I asked RocketMortgage for {$1000.00}. {$500.00} for the deposit and {$500.00} for me to buy down points to get me back to XXXX. They refused stating the that " other credits '' were not " lender credits ''. The conversation that I had with XXXX occurred over his office phone and his cell phone.
Frequently Asked Questions
What is Complaint #4825050 about?
Complaint #4825050 was filed against Rocket Mortgage, LLC regarding Mortgage specifically about Applying for a mortgage or refinancing an existing mortgage. It was received by the CFPB on 2021-10-19T12:00:00-05:00.
How did Rocket Mortgage, LLC respond to this complaint?
The company responded with: "Closed with monetary relief". 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.