Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #5623074
Complaint Overview
Complaint ID: 5623074
Company: Rocket Mortgage, LLC
Product: Mortgage
Sub-Product: VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
State: New York
ZIP Code: XXXXX
Date Received: 2022-06-01T12:00:00-05:00
Date Sent to Company: 2022-06-01T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
I applied to Rocket Mortgage to refinance my home in order to use the equity as part of a divorce settlement. I was upfront when I spoke to the first representative about why I was refinancing as necessary for the pending divorce. I provided a deposit of {$500.00}. The house was appraised on XX/XX/XXXX. My soon to be ex-wife is on the current deed. I explained that I was well aware that she would have to sign a quit claim deed at some point in the process either with the new loan or as part of my divorce. I discovered on XX/XX/XXXX that she was sent a letter indicating my loan terms and the appraised value. She gave me the letter back unopened, but that could have seriously jeopardized the divorce process and settlement. On XX/XX/XXXX I received a call from the title company that Rocket uses informing me that I needed my pending ex-wife to sign a quit claim deed. They said that might rate might be in jeopardy. I called Rocket later that evening and spoke to a representative who told me that I should be ok and that I could ask for a rate extension on or about XX/XX/XXXX when the rate was going to expire. On Friday the XXXX, I received a call from their loan suspension department informing me that my loan would be suspended and that I would have until XX/XX/XXXX to get my pending ex-wife to sign a quit claim deed. I asked to speak with client relations and ultimately ended up asking for my {$500.00} deposit back. I emailed my original representative about this and verbally told client relations the same. My concern is that even though I was completely upfront about my pending divorce that I was still encouraged to proceed with the loan. Had I known prior to initiating the process I would not have pursued refinancing at this time. While I am aware that Rocket incurred costs ( appraisal ) associated with this, because I was misled and later felt bullied with the threat of a loan suspension I think was fair to ask for my deposit back. I was informed XX/XX/XXXX by Rocket that I would not be getting my deposit back.
Frequently Asked Questions
What is Complaint #5623074 about?
Complaint #5623074 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 2022-06-01T12:00:00-05:00.
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.