Mortgage -- Trouble during payment process -- Complaint #6487890
Complaint Overview
Complaint ID: 6487890
Company: Rocket Mortgage, LLC
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: California
ZIP Code: 95818
Date Received: 2023-01-25T12:00:00-05:00
Date Sent to Company: 2023-01-25T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
The CFPB, in conjunction with regulatory agencies, should be working to reduce the number of loan transfers from one Loan Service to another. Loan transfers impact borrowers with the burden of constantly setting up new autopay account for the new servicer creating confusion for the borrower. There should be a penalty of some charge for every time a servicer transfers a loan. 1. if a loan is transferred, the payment arrangements are transferred as well 2. forcing the borrower to keep track of the transfers is an undue burden on the borrower. They make their payments on time. The banking and finance business should not be a problem for the borrower. The borrower does not get any advantage from the transfer, so they should not be impacted. 3. Have a limit on the number of times a loan can be transferred.
Frequently Asked Questions
What is Complaint #6487890 about?
Complaint #6487890 was filed against Rocket Mortgage, LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2023-01-25T12:00:00-05:00.
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.