Consumer complaint received 2020-02-04
Company: Rocket Mortgage, LLC
State: NH
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
I applied for a mortgage refinance with Quicken Loans/Rocket Mortgage, relying upon their oral and internet representations about the terms of the refinance loan they were offering. One of the most important terms that they represented was that they never, or hardly ever, resold a loan to another company and absolutely never re-sold the servicing of the mortgage. 

I paid an appraisal fee ( {$500.00} ) and also a lawyer 's fee ( {$750.00} ). I hired the lawyer ( XXXX XXXX of XXXX, XXXX in XXXX, NH ) because Quicken/Rocket at first insisted on sending all documents on the internet, instead of on paper, and I can not easily read back-lit documents ( old eyes ). 

Quicken agreed to give me the mortgage, but when my lawyer read the closing documents from Quicken, ( and eventually when they arrived on paper at my home ) ; it turned out that the terms in the closing documents were NOT what Quicken had represented. Importantly, Quicken 's papers said the exact opposite : that they commonly resold loans -- and also commonly re-sold the servicing contracts! 

I phoned Quicken Loans/Rocket to complain, and to ask for written loan terms that reflected their original offer, but they refused ; saying that they only " aim '' not to sell loans, but they could NOT put that in writing! They said the writing was mere " verbiage! '' But they admitted, though, that the writing would control! 

I asked to speak to someone in their business to whom I could complain about the terms in the papers, and was told there was no internal complaint process at Quicken Loans ; nor did they have any lawyer at Quicken to whom my own lawyer could speak! As a result, we cancelled the closing, which had been scheduled for XX/XX/XXXX. I asked for my money back, but Quicken 's reps declined! 

I was induced by Quicken 's deceptive marketing -- and possible overreaching because of my weak eyes or age -- to apply for the loan in the first place ; and then lured into spending money in reliance on Quicken 's representation that they would give me a loan with different ( no-re-sale ) terms. Apparently Quicken knew all along that they were not going to live up to their representations, but lured me into spending money on bogus promises! 

Specific people that I spoke to : XXXX XXXX and XXXX XXXX on XX/XX/XXXX. It was they to whom I spoke about trying to resolve the issue in writing and eventually cancelling the closing.. They, instead, reiterated the representation that Quicken " aims '' to keep its loans -- but acknowledged that the written closing documents said the opposite. Then they said that closing documents were mere " verbiage! '' ( but also acknowledged that the written documents were " controlling. " ). 

Earlier, when I started the application process, by phone, I spoke to Quicken marketer, XXXX XXXX, who made the same initial representation. XXXX also pointed to several on-line new articles or ads, in which Quicken said that it " hardly ever '' re-sold loans and NEVER re-sold a servicing contract. In light of their closing documents, these were apparently slick mis-representations.

Company response to consumer: Closed with explanation