Consumer complaint received 2020-02-05
Company: Rocket Mortgage, LLC
State: TX
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Closing on a mortgage

Complaint:
Closing date XX/XX/XXXX Did not allow us to use our preferred Loan Officer Did not allow us to shop for Title / Settlement Agent Changed our loan amount without discussing with us prior to change and re-disclosure Disclosed a loan as a Cash Out but when we inquired about getting Cash-Out we were informed that the loan would have to be re-priced and would result in higher Points and/or Interest Rate Provided incorrect disclosures for the type of loan requested Provided with several Loan Estimates and an Initial CD stating taxes were due after we were advised by Quicken ( the current servicer ) that the taxes had been paid. 

On XX/XX/XXXX we were contacted by Quicken Loans regarding refinancing our existing loan because rates were low. We told them we were interested in exploring this possibility. We advised the representative that we had a Loan Officer we preferred to use. We were connected to a Loan Officer to discuss the terms of the refinance. This was not our preferred Loan Officer. We advised the Loan Officer we had a preferred Loan Officer and were told he would get credit for the loan. 
We advised the Loan Officer that we were educated borrowers, both of us working for a XXXX  company. We discussed terms with the Loan Officer. We had an existing Cash Out loan but requested a rate and term refinance in order to pay less interest over the life of the loan and reduce our term. 
The Initial Disclosures were provided and signed by us on XX/XX/XXXX while we were on the phone with the LO. They reflected that the loan was floating. 
We were provided Initial disclosures based on the terms discussed with the LO. In the package was the required disclosure for a Cash Out Refinance in the State of Texas. I advised the LO that this disclosure was incorrect for a rate and term. He told me he would look into it and get back to me. I told him he had disclosed a Cash Out loan but that was not what we discussed. 
The Initial Disclosures were provided and signed by us on XX/XX/XXXX while we were on the phone with the LO. Our loan amount was {$200000.00} The Title fees were disclosed on the Loan Estimate in the Services you can Shop for Section. We were provided with a disclosure titled Additional Details for Services you can Shop For showing the Settlement Agent as XXXX XXXX We received another disclosure stating XXXX  was an Affiliate of Quicken Loans. We advised the LO that we had a title company within a mile of our home and we would prefer to use them. He said someone would contact us later for that information. 
The Loan Estimate reflected that the taxes for XXXX were due. We advised the LO that the taxes should have already been paid. Tax bills were sent to the Lender in XX/XX/XXXX. He said that they would be removed prior to the Closing Disclosure being issued. 
The loan was re-disclosed showing the loan was locked on XX/XX/XXXX. We advised a Customer Service Representative that the Taxes were paid and should be removed. The loan amount was {$200000.00}. We advised the LO that the Title Company was too far, and we would like to close at a title company near the house. ( The title company on the disclosures was 4.5 hours from our home ) On XX/XX/XXXX we were provided with a Closing Disclosure showing our loan amount as {$200000.00}. We were contacted by a Customer Service Representative ; no explanation was given for the increased loan amount. We also advised the representative we did not wish to close at the disclosed title company ( 4.5 hours away ). They said someone would contact us when it was closer to the closing date. We also advised the contact that we were not provided the proper state disclosure for the type of loan we were applying for. They said she would have someone contact us. 
On XX/XX/XXXX, I sent a message stating the title company disclosed was 4.5 hours from my home. Asking for more information regarding the closing location. Stating we would not close 4.5 hours from our home. In the message I stated that the taxes were paid by Quicken and we still reflected on the Closing Disclosure. I also advised the Loan Officer that the loan was improperly disclosed as a Cash Out loan and should have been disclosed as a Rate and Term. I received a response on XX/XX/XXXX stating the title company was part of the Quicken company and a title company would be assigned in my area. The Closing Team would be reaching out. The message stated my Loan officer would contact me regarding my concerns for the Closing Disclosure and the Cash-out issue. I did not receive any further response to my inquiry. ( I save a copy of these messages externally ) On XX/XX/XXXX we were provided with Lock Disclosure reflecting the loan amount of {$200000.00}. No explanation for the change in Loan amount was provided. 
On XX/XX/XXXX We were contacted by a Closing Representative to set-up the closing. We advised her that we did not want to close at the disclosed title company as it was too far away. She asked for 3 cities where we would close and said someone would advise us on where we were closing. I advised that I live in a city with several title companies in my area and shouldnt need to list 3 cities. She told me she could not schedule my closing unless I gave her 3 city names. I advised her we wanted to close at the title company in my neighborhood but also gave her 3 cities in my area. I also advised her that I would not close this loan if the title company was not in XXXX or was too far from my home. I also advised her that the Closing Disclosure was incorrect as the taxes were still shown as being paid at closing. She said she was just the contact to schedule the closing and someone else would contact me regarding that issue. 
My husband called the disclosed company and advised them that we wished to close at the title company near our house. They said they would contact that title company to see if they could be approved to conduct the closing in their office. We contacted a Quicken to advise them that the Closing Disclosure was incorrect because the taxes were shown as paid at closing. They confirmed that the taxes would be removed and a new closing disclosure issued. 
We received a letter with the address for the title company near our home but the Closing Disclosure showed another address for a closing attorney in XXXX. 
On XX/XX/XXXX, our loan amount was decreased to {$200000.00}. Our loan  officer contacted us regarding the closing. We asked why the loan amount was reduced. He stated the loan was not priced as a Cash-Out loan so we were not able to receive cash back. The updated Closing Disclosure reflected us receiving cash back even with the lower loan amount. He said if we wanted the higher loan amount it would cause him to re-price the loan and would result in additional points and a higher Interest Rate. I advised him that the loan was disclosed as a Cash-out loan under the Texas  Constitution. He would not be able to charge us for his mistake in incorrectly disclosing the loan. I told him I felt as if he was pulling a bait and switch since I had informed him the loan was incorrectly disclosed at the beginning and now he wanted to change the terms for a mistake I pointed out to him. I advised him that I would be filing a complaint with the CFPB regarding the handling of my loan. He advised me that he would have a Client Representative contact me and asked if we were going to proceed with the closing. I advised that we would notify him if we decided to proceed. 
After discussing it with my spouse, the lower interest rate and term were a benefit to us. We advised the Loan Officer that we would continue with the closing at the {$200000.00} loan amount. 

As of XX/XX/XXXX, I am unable to access any documents that were electronically transmitted thru Quiickens Rocket Mortgage portal. I am only able to access any documents I uploaded thru the portal. In order to access the documents, they will have to be mailed to us via US Mail. Quicken has provided us with the documents, however we do not have access to determine if these are all the documents. There were documents that were provided that were not included in this package. We also do not have access you any messages sent thru their app.

Company response to consumer: Closed with explanation