Consumer complaint received 2020-12-13
Company: Rocket Mortgage, LLC
State: PA
Product: Mortgage
Sub-product: VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
I requested some refinance loan estimates from a website and was contacted by XXXX XXXX from Quicken Loans on XX/XX/XXXX. We talked for a while and I provided him with all of our information to provide a loan estimate, this included our names, SS # 's for both me and my wife, loan amount, income, property address, estimated value of the property and a lot of other details. He told me he could offer me a " no cost '' loan at 2.25 %. I told him that sounded good, but I would need a loan estimate since we were shopping for the best loan for our situation. I told him that we had a verbal offer of 1.75 % and he told me that was not possible because the lowest possible VA rate is 2.25 %. This statement confused me, because I was not aware the VA set minimum rates and because we already had XXXX offers below 2 %. This is the first time I believe he lied to me. I was still interested in the 2.25 % because there were no costs associated with it and there was with the other loan offers. He told me he would send over the loan estimate. I never received it. 

On XX/XX/XXXX he text messaged me saying he needed more information. I thought this was strange since I thought he got everything he needed when we talked on the phone and was supposed to send me a loan estimate. So I asked if he needed the information just to get me the loan estimate. He responded back saying it was to move forward with the refinance. I told him again that I needed to see a loan estimate before moving forward. I began to get leary of him at this point since he seemed unwilling to send me a loan estimate. I also mentioned that he had it listed as a 15 year loan in his text message and that we wanted a 25 or 30 year loan. He responded saying that in order to do the IRRL we would need to stay at the same loan length we were currently at which was 15 years. This is the second time he lied to me. At that point I thanked him for his time and told him we already had offers from other companies for this exact loan that I was asking for. 

He didn't seem to understand that, so I explained it again with more detail. He then said he could do a 25 year loan at that same rate. I didn't question the fact that he just told me that wasn't possible, I just told him again that I would need to see a loan estimate. He said categories A thru C would be {$0.00}. I again told him that sounded good and to please send me a loan estimate. At this point he finally agreed to send me a loan estimate.

He sent the loan estimate 15 minutes later. In his email, he made it sound like everything was like we talked about the 15 minutes prior to him sending the loan estimate, but it was not, it was {$1800.00} more. He said that there was {$500.00} due at closing, and that was not true, it was {$1500.00}. He had an appraisal fee when no appraisal is required on a IRRL. I responded back to his email saying this was not what we talked about, he said things had changed. In 15 minutes things had changed, really? I responded back letting him know how displeased I was and not to contact me further. 

All I was asking for is loan officers to tell me what they can offer me and provide the information they promise in a loan estimate in a timely manner so I can compare offers. I lodged a complaint with Quicken Loans about this situation but have not heard anything before I filed this complaint. 

I have attached a PDF of the email exchange, the loan estimate he provided and the text message exchange.

Company response to consumer: Closed with explanation