Consumer complaint received 2022-10-22
Company: Rocket Mortgage, LLC
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
Dear CFPB : I obtained a refinance cash out loan from Rocket Mortgage, closing date XX/XX/XXXX, with the assistance of XXXX XXXX XXXX XXXX XXXX. I began the process XX/XX/XXXX, however, Rocket Mortgage refused to abide by Covid-19 rules and seriously delayed my loan application. I was very straightforward with XXXX XXXX regarding my lack of experience with home mortgages and insisted XXXX XXXX select a company with good standing and integrity. Rocket Mortgage eventually approved and processed my loan for {$200000.00} which had closing fees in the amount of {$2500.00} which I was informed would be removed from the {$200000.00} and the remaining balance would be provided to me. Despite loan documents including a statement that Rocket Mortgage intended on servicing my loan, my loan was sold to XXXX XXXX and I received notification informing of the transfer and I was to make my XX/XX/XXXX payment to XXXX XXXX. To be very clear, I was unhappy that my loan was sold and transferred and expressed my unhappiness to Rocket Mortgage. Obtaining my loan was tedious and difficult. To summarize, I jumped through hoops of fire to obtain the loan against my high value home that I owned free and clear. It was very frustrating that my efforts to obtain the loan and my property were never considered when the loan was sold and transferred to XXXX XXXX. I find XXXX XXXX to be a very questionable loan company whose customers rate the company and its customer relations very poorly and also has been sanction and sued by our government. This would not be a company I would select to do business with and trust with my valuable asset. Apparently, I was not well educated on Rocket Mortgage problems and quickly learned first hand. Prior to my loan sale and transfer to XXXX XXXX, I made XXXX payments on time per contract terms and an additional extra payment advised by XXXX XXXX for purposes to be one ahead and as a safety for future potential issues. Upon XXXX XXXX assuming my loan I have made all payment obligations on time as required beginning XX/XX/XXXX. My loan records kept by XXXX XXXX did NOT include and payment record information prior to XXXX XXXX for my time with Rocket Mortgage. I was unable to verify the information or determine the loan balance that I believed was incorrect. I attempted contact with XXXX XXXX through my account message center and sent several emails, all of which I never received a response. I then contacted XXXX XXXX by telephone and was informed there was no prior account transactions prior to XXXX XXXX. After a long detailed explanation of the loan, I informed XXXX XXXX that they are responsible for accurately and completely making available the entire loan record from its beginning. XXXX XXXX informed if there was prior records, Rocket Mortgage did not include those records in the transfer as required and I needed to contact them. I had sent Rocket Mortgage emails regarding the issue simultaneously when I sent XXXX XXXX, which I did not receive response and the responses I did receive from Rocket Mortgage informed they could not locate my information and I needed to use the same email used with their company when the loaned was obtained and continued to send the same response despite offer all account information and details. Upon contacting Rocket Mortgage by telephone, the first representative told me to contact XXXX XXXX because they were the only ones who would have the information. Next I was told the closing fees of {$2500.00} were added to the loan, NOT removed from the loan. I clearly explained the details which did not make a difference and asked that my call be escalated to upper management. I was told I would receive a call back in 24-48 hours. Approximately two days later I received a voice message from a representative from Rocket Mortgage. The following day I received a. Live message from XXXX XXXX who claimed to be a supervising manager with extensive experience with Rocket Mortgage. Unfortunately, XXXX XXXX and I played phone tag for several days due the time difference. I left XXXX XXXX a brief voice message of the details to offer some time to review the details. XXXX XXXX and I finally made successful contact yesterday, XX/XX/XXXX, however, the communications were anything but successful or productive with XXXX XXXX insisting it is not a Rocket Mortgage policy to remove any fees or charges from an original loan amount therefore it did not happen. I clearly explained the loan details and events with XXXX XXXX who I had never had any contact with prior and explained she was in possession of the original loan documents and financial records to support my claim and prove the accounting error to be the responsibility of Rocket Mortgage which required Rocket Mortgage to correct. XXXX XXXX again repeated Rocket Mortgage policy and offered her expertise to assist me with understanding the loan details which many first time homeowners found very confusing. XXXX XXXX provided an example of going to the market with {$10.00} and selecting {$10.00} worth of items which then had tax added, asking would I pay for the items with the {$10.00} or write a check for {$10.00}? XXXX XXXX then advised that the problem should correctly be taken up with the broker XXXX XXXX and required XXXX XXXX to correct. I had sent XXXX XXXX a very detailed email of the issue in the beginning when I contacted both mortgage companies and reviewed XXXX XXXX response after speaking to XXXX XXXX. After receiving my email, XXXX XXXX contacted Rocket Mortgage and was directed to contact a service information line at Rocket Mortgage and XXXX XXXX to resolve. I had extensive communications with XXXX, a department manager at XXXX XXXX, who assisted me with determining the error utilizing the loan and financial records. 
My original loan amount was {$200000.00} which closed on XX/XX/XXXX at 2.75 % with a monthly payment of {$810.00}. XXXX XXXX XXXX. The closing fees of {$2500.00} were taken from the {$200000.00} and a wire transfer of {$190000.00} was direct deposited into my XXXX XXXX Checking Account on XX/XX/XXXX. Rocket Mortgage failed to enter the {$2500.00} removed from the loan for fees and posted loan payments against a balance of {$200000.00}, including the extra loan payment and sold and transferred my loan to XXXX XXXX with the same accounting error and loan balance of {$200000.00}. On XX/XX/XXXX I received an email notice from Rocket Mortgage informing my loan was sold to XXXX XXXX, advising it a regular and normal event, and again, confirming Rocket Mortgage intended on servicing my loan. XXXX XXXX informed the {$2500.00} was the broker fee received by XXXX XXXX and XXXX XXXX was somehow responsible for the accounting error. My conversation unexpectedly ended with XXXX XXXX due to my cell phone battery died. I did not call XXXX XXXX back for reasons XXXX XXXX adamantly insisted there was no problem because the problem I claimed went against company policy therefore did not exist. This is an accounting error completely supported and verified through the loan documentation and warrants immediate correction to show the correct balance owed on the loan. There is absolutely no reason that I should not be entitled to the {$2500.00} fee paid out of the money loaned to me and the correct balance from that transaction with payments posting to that balance. I find XXXX XXXX condescending and offensive. This is a minor error that can be easily and correctly resolved but instead has grown into a problem requiring intervention. The issue reflects the absolutely unacceptable and predatory actions loan companies inflict on hard working Americans and is yet another example of wasteful spending of tax payers monies to attempt to rectify the problem. While I may represent only one consumer and the amount in question may seem insignificant, it is exactly these two reasons that raise questions for accountability and oversight of one of the largest loan companies who has extensive and competent knowledge and experience to support compliance with requirements and to take the necessary actions to resolve problems, especially when it results from an internal error. It may only be {$2500.00}, but it is {$2500.00} that was taken from the loan made to me for fees I was charged and owed to obtain the loan. I am legally entitled to have the payment/money removed to correctly show and reflect in the balance. It is ludicrous to suggest I write off the incompetent error and for all involved to deny the error and continue to refer to the other company to resolve the error. XXXX XXXX informed the loan was sold and transferred with a balance of {$190000.00} and cents proving Rocket Mortgage NEVER posted the {$2500.00} payment. 
I apologize for not submitting supporting documentation or including detailed dates, amounts, and communications for reasons I am out-of-state and do not have immediate access to my records at home. My claim can be fully substantiated with available documents and records currently in the mortgage companies possession. 
This problem prompts questions and fears for what the next 30 years will demonstrate repaying the loan.

Company response to consumer: Closed with explanation