Consumer complaint received 2021-08-09
Company: Rocket Mortgage, LLC
State: AK
Product: Mortgage
Sub-product: VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
Quicken Loans has not been truthful when responding to CFPB Complaints XXXX AND XXXX. Therefore I plead with the CFPB to investigate the following aspects of my complaint : 1 ) On XX/XX/XXXX my husband and I applied for a cash-out refinance on our XXXX VA loan at Quicken Loans. Our XXXX Loan had closed on XX/XX/XXXX. The first payment was due XX/XX/XXXX. I provided all XXXX loan documents, mortgage statements, financial information, banking information, et al to XXXX XXXX, Mortgage Banker at Quicken Loans on XX/XX/XXXX. I discussed whether or not we were better suited for a conventional loan. XXXX XXXX stated since we were in a VA loan we should stay in a VA loan and wrote up an estimate for a VA loan. After over five hours on the phone, XXXX said we were approved. XXXX promised a 2-3 week closing. Promised to waive the home appraisal since our home had recently been appraised. XXXX gave us the same rate we currently have : 2.25 %. 

2 ) On XX/XX/XXXX XXXX XXXX, XXXX XXXX XXXX  Consultant, said we did not qualify for a VA loan because our VA loan with XXXX wasnt seasoned. She wrote a conventional loan which incurred over {$1700.00} closing costs. I argued with her and XXXX XXXX, a supervisor at Quicken Loans about the change in Loans. 

3. On XX/XX/XXXX I received a letter from Quicken Loans, XXXX XXXX, telling me I had been approved for the VA loan and telling me to lock in my rate. I inquired about this and Quicken Loans refused to lock in my rate, citing that Quicken Loans was refusing to lock in rates for all Alaskans due to the title companies in Alaska taking too long to get the title paperwork back so Quicken Loans was refusing to lock rates for all Alaskans. 

Yet on Quicken Loans website there was no mention of this. The VA Loan was approved and I had a letter telling me to lock in my rate. But Quicken Loans refused to lock the rate. 

4. Because Quicken Loans began lying and coming up with all sorts of stories and I had the information about what they said when, but Quicken Loans would not budge, I asked that the loan be cancelled and my money refunded. My records show that I finally received m {$250.00} deposit back on XX/XX/XXXX. 

I contacted the CFPB on XX/XX/XXXX and was told that Quicken Loans refusal to lock in rates may be illegal. I contacted the Alaska State Banking and Securities and as fair as I know, they are still looking into to this. Quicken Loans has been lying, misrepresenting the fact, and trying to get out of what they did, and why they didnt do it. 

Quicken Loans promised me a quick closing of 2-3 weeks which they had no intention of doing since Quicken Loans says all title work in Alaska takes over 5 weeks and thats why they wont lock in Alaskan consumers rates. 

Quicken Loans wrote and approved a VA cash out refinance for my husband and I and then did everything within their power to get us out of that. Quicken Loans even sent approval paperwork on that loan, urging me to lock in my rate which they refused to do on XX/XX/XXXX. 

Quicken Loans has refused to address any of these issues in their letters. They have lied to the CFPB when they have tape recordings of the conversations between XXXX XXXX and myself. They know that I questioned XXXX XXXX about writing a VA cash out in the first place. Quicken Loans knows XXXX XXXX had all the necessary paperwork with which to make an accurate decision as to whether or not we qualified for a VA cash out on XX/XX/XXXX and XXXX made the wrong decision. XXXX sent us the approval letter on XX/XX/XXXX. Please do everything within your power to see that Quicken Loans is cited for this unfair, deceptive, abusive, action.

Company response to consumer: Closed with explanation