Consumer complaint received 2020-07-22
Company: Rocket Mortgage, LLC
State: FL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
Around the first week of XX/XX/2020, I contacted Quicken ( or Rocket Mortgage ) to ask about refinancing. The representative told me that " this is the last day to get you into a special offer '' and I needed to do all the same night. I agreed and gave all information to her. After about 30 minutes of questions, she tells me : " its a 30 year conventional, 3.25 %, with XXXX all closing costs nothing else, and no lender points, no origination fee ''. She asked me to allow her to pull my credit now to lock on the offer and I expressed my concern if that was a sure thing because I did not wanted to be impacted in refinancing that would not be a sure thing. She told me yes I was qualified and that the only thing needed was for me to have a withdrawal of XXXX monthly from my 401K to resolve any concern on my income. She asked me to do that asap so the withdrawal shows in my bank and I had to provide certification on that on top of all other documentation I needed to provide. Since she assured me that I qualified, and Quicken in my view was a professional company, I agreed for her to pull my credit, and I contacted my 401K plan company to withdraw the money. After that, they kept asking me for papers and statements and more documents until about the end of XXXX when another representative called me to say he wanted to do the final part for the closing. He said I needed to resolve an issue from Fanny May and explained that the report they receive from Fanny Mae which usually is : Approved, Denied, or Proceed with Caution, indicated for me the third option or Proceed with Caution. Then he said he needed to review all my case which we did since I thought this must be the process because with the initial representative all looked great and she even told me my credit was great ( XXXX ). After about 20 minutes he told me he had the results and that my refinancing would be approved with a better interest rate and a closing costs of near XXXX dollars. I was very surprised about this increased XXXX, because is the same thing that happened to me a year ago, with a broker that offered me to do a refinance. It was all the same with the process and the tactic to contact me at the end and say that my XXXX closing costs changed to be XXXX because they made an error. I believe this is a dishonest tactic of bait and switch and for me it has impacted me with the loss of over 600 dollars on fees and taxes from my 401K plan, I lost time to get my refinancing done, and needless I also lost near 10 hours of work to produce all paperwork they asked for. Most important, this unfair practice is not right and I want to ask you to help me make this right. This should not be happening and I'm sorry of many other folks that may take the similar deals due to obligations or for not having other option but accept this unfair deceptive practice. Please, help me and many others not go thru this again. It is unfair, deceptive, not right and a corrupt practice to extract more money out of people.

Company response to consumer: Closed with explanation