Consumer complaint received 2017-03-06
Company: Rocket Mortgage, LLC
State: OH
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Application, originator, mortgage broker

Complaint:
I first contacted Quicken loans in XX/XX/XXXX and spoke to XXXX XXXX. During that conversation, he suggested that he would be able to get our monthly payment down to around {$1100.00}. This estimate was given based on our current monthly payment, loan amount, escrow with insurance, and additional information. When I asked if that included taxes and insurance, he said yes. In a follow up conversation a few days later, he told me that he could get our monthly payment in the {$1200.00} - {$1300.00} range. I asked if he could get XXXX due at closing, and he said, " Yes, we do n't do closing costs at Quicken. '' Based on these promises, we decided to move forward and initiate the loan process with Quicken. 

Our initial Loan Estimate stated that our monthly payment would be {$1400.00}. On, XX/XX/2017, we were asked for a {$500.00} dollar good faith deposit. This had not been mentioned in any previous communication and it came as a bit of a surprise. Nevertheless, we proceeded. The very next day, XX/XX/2017, we received notification of an increase in our loan estimate. It was now {$1400.00}. I did not appreciate how this increase was not communicated and explained to us with a phone call. Rather, it was disguised as just another document that we needed to sign on the online interface. 

Furthermore, when I sent an email to XXXX XXXX to inquire about the discrepancy between the XXXX and XXXX estimates, he said that the difference was primarily due to changes in insurance and taxes, and the principle and interest portions of the second estimate had not changed from the original. I have attached documents that demonstrate this is false. 

The closing disclosure was sent to us on XX/XX/2017. This stipulated a significant increase in closing costs, now totaling over XXXX. When I contacted XXXX to discuss this discrepancy - going from XXXX down at closing to XXXX, he asserted that it was due to an increase in our county taxes. How could this not have been known during the XXXX previous loan estimates? He offered to roll the closing costs into the loan, which would increase our monthly payment " a few dollars. '' This offer was never executed. 

Meanwhile, we received multiple phone calls every day to try and set us up with a closing date. Even after we told multiple people that we needed more time to think about it, we still had multiple calls a day. When we explained why we were waiting - how we were told things that changed multiple times, we were given very contradictory explanations and reasons for these changes. 

We contacted XXXX XXXX on XX/XX/2017 in hopes of resolving some of these issues. We told her our story and our fundamental frustration at the ever increasing numbers and our lack of trust with the process with Quicken. She said that Quicken never gives out estimates until they have all the required documents. At that point, our phone cut out as we were driving in a remote area. 

XXXX XXXX called me back on XX/XX/2017 with XXXX XXXX on the line. They said that they could n't do anything with the numbers of the loan itself, but they could offer us a {$250.00} good faith credit. After discussing it with my wife, I told XXXX on XX/XX/2017 that despite the fact that the process had been less than ideal, we would like to move forward. She called me back five minutes later and left a voicemail saying that the {$250.00} good faith credit would no longer be offered because we were already " maxed out on our credits. '' Despite this, we still considered moving forward. Then, XXXX XXXX called on XX/XX/2017 to try and set up closing, she informed me that the monthly payment was now up to over {$1400.00}. She could offer me no assurances that the monthly payment would n't increase if we scheduled a closing and was unable to explain the increase. 

We withdrew our loan application. We are frustrated and would like our {$500.00} deposit returned in full.

Company response to consumer: Closed with explanation