Consumer complaint received 2023-12-05
Company: Rocket Mortgage, LLC
State: MI
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage
Sub-issue: Trying to communicate with the company to fix an issue with the loan closing

Complaint:
On XX/XX/XXXX I was given a pre-approval letter from XXXX XXXX with Rocket Mortgage for a property purchase for XXXX XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX, Florida, XXXX. In speaking with him on this day he said there was absolutely no problem getting me a loan as far as my qualifications and that they were very familiar with the association for the condo complex we were buying and could waive the appraisal as it was all good to go. In fact, the pre-approval letter says " Since we have verified your information, you can be confident we'll close your loan. In fact, we're so certain you'll make it to closing, we'll pay you {$1000.00} if you don't. '' On XX/XX/XXXX he locked in our rate and we agreed to pay for a 90 day lock at 6.99 %. We sent {$500.00} to them for credit reports and loan costs. We continued to provide documentation that was required and were continually told everything was proceeding as it should. We never heard anything different until on XX/XX/XXXX we received an email from the title XXXX saying that she had received an email saying Rocket Mortgage was not proceeding with our loan. We then looked on the Rocket Mortgage portal and sure enough there was a statement saying they couldn't complete the loan on that property at this time. We called the mortgage broker and when he returned our call he assured me that they hadn't communicated with me because they were trying to resolve a glitch that he felt would be resolved having to do with a recreational lease on the property. My XXXX XXXX agent, XXXX XXXX, had already sent him proof that there was no recreational lease on the property. So we continued pursuing this with XXXX and his superiors, in fact a total of XXXX people were part of the email chain I was communication with via email. No one other than XXXX ever returned promised communications or calls to me to update. They explained that they couldn't do the loan because XXXX  XXXX  wouldn't back the loan because of this recreational lease that hadn't existed since the XXXX 's. They tried to blame it on the association management for not responding to their request for a condo questionnaire which they never requested and we have email proof of that. On XX/XX/XXXX XXXX XXXX and a woman named XXXX called my agent XXXX XXXX and said the loan was dead as far as they were concerned. They never communicated with me, despite all my emails to them. They told XXXX they would call me but they never did. I was their client and they didn't have the decency to let me know that. I began working with another mortgage broker and am closing today. That person had absolutely no problems with our loan or with Fannie Mae. We are now paying a XXXX  % interest which over the course of 30 years comes to {$18000.00}. It is clear to me that the reason they did not complete my loan had to do with interest rates going up and nothing else. The mortgage broker that closed my loan believes that someone at Rocket Mortgage dropped the ball and neglected to lock in with a financial institution that would back their loan.

Company response to consumer: Closed with explanation