Consumer complaint received 2020-06-05
Company: Rocket Mortgage, LLC
State: NJ
Product: Mortgage
Sub-product: FHA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
After submitting the application for low income housing purchase application, I was finally approved on XX/XX/XXXX. Its been a long wait for me and my XXXX yr old son. I immediately got right to it and accepted the offer spoke with my attorney to provide a letter of acceptance to the seller with the purchase. I was already pre-approved for {$110000.00} mortgage. Thursday XXXX, I decided to contact contact Quicken Loan to  apply for a low income first time homebuyer with 3 % down payment mortgage loan. I was ask to provide the loan officer girl all the info she requested including my SS # number and pulled my credit which was in the XXXX but it meets the guidelines. After she pulled the my credit she ask about my employment status. I told her ive been a XXXX XXXX   XXXX since 2014 for XXXX XXXX. Unfortunately due to the covid19 national closing on all businesses including XXXX  back in XXXX and was recently received an authorization to re-open on XX/XX/XXXX, I was out of work since XXXX not by choice but I still have my job with the same employer that will open on XX/XX/XXXX. Therefore my only source of income at the moment since XXXX until we re-open would only be the state funded unemployment and federal stimulus checks. Again, I still have my XXXX job for the same company. Without hesitation the girl whose name I forgot, immediately denied me of my loan by saying quicken loans will not approved the fha mortgage loan due to not having a job no matter with or without pandemic crises.She also stated that Quicken Loans will never accept unemployment insurance payments as well as any other federal or state payment funds as source of income. Then she said, Can I ask you something, would you lend hundreds of thousands of dollars to someone that is unemployed and could only provide unemployment assistance to show for as income, and would I do that if I was the bank. Comment was uncalled for. I explained to her that the whole country were given an executive order to close down which millions were out of work but I can provide proof that I am not out of a job. I also told her they can call my employer anytime to verify my I still have my job and will be working the executive order business opening for NJ XXXX. I my best pleading and without care she said sorry but quicken will never approve it. She said is 100 % that she is certain that it is Quicken Loans current policy regarding Covid 19. She also added that anyone who have applied for a mortgage loan for home purchase or refi at quicken at loan between XXXX and now have been turned down due to being out of work. I asked if there was any announcement online or document she can provide supporting her denying me of mortgage application through quicken loans. She simply said Im telling you because thats what they were told. Without providing any company disclosure regarding having an active employment during covid 19 in order to obtain a mortgage loan and will not accept any state assistance funds for income verification. Therefore mortgage will be denied. Must have current paystub for income verification and must be able to verify work status during the previous months. I was confused and so aggravated i didnt bother to ask to speak to a higher authority. How could that even make sense for me to work when no one other than essential workers were given the executive order to work.

Company response to consumer: Closed with explanation