Consumer complaint received 2020-07-20
Company: Rocket Mortgage, LLC
State: FL
Product: Mortgage
Sub-product: FHA mortgage
Issue: Closing on a mortgage

Complaint:
Rocket Mortgage by Quicken loans has made this home buying process more painstaking than necessary. The initial young lady ( president 's club banker ) helping me told me that my out of pocket costs would be approximately {$8400.00}. Now that amount has increased to {$9500.00}. She also advised that if I accepted a higher interest rate then my out of pocket costs would be reduced. Originally, we agreed to an interest rate of 3.1 % with {$8400.00} in out of pocket costs. So, I agreed to an interest rate of 3.4 %, the young lady stated that changing the interest rate to 3.4 % would not reduce the out of pocket costs, but 3.6 % would. So I agreed. I am no mathematician, but {$9500.00} is still more than {$8400.00} and my interest rate is still 3.6 %. I am a first time home buyer, I chose Rocket Mortgage because of the incentives offered through my job. The young lady was not aware of the incentives and she ended up applying only one of the three that I made her aware of. Additionally, we were set on a closing date of XXXX. No one made me aware that the closing date was changed until I called, to ensure that everything was squared away. I am moving from XXXX   to XXXX XXXX, so imagine my surprise when I arrive in XXXX XXXX with two small children and no place to go. Our food spoiled because ice and ice packs only lasts so long in a hot moving truck. We were not provided any additional information unless we called ( and even that information was limited ). No one reached out to us to " keep us informed '' and up to date. My realtor stated she was not being informed either. She requested to speak with a supervisor but never did. They ended up stating that they needed to verify additional assets, including the XXXXarnest money check. The earnest check had been uploaded on their website as well as emailed to the Sr purchase specialist FROM THE LAW OFFICE that it was made out to. They stated that the check was not enough, so I uploaded AND emailed my transaction history to get that requirement cleared. Despite doing this, they still requested that I send more proof of the check clearing. I had to call and speak to someone and walk them through reviewing my transactions line by line so that they could verify that the check cleared weeks ago. This company requested that I send in proof of additional assets, of approximately {$6500.00}. They had proof of over {$3500.00}, so I sent in a statement from my secondary bank account ( I was unable to upload it on their website ), I emailed it to the Sr purchase specialist, explaining that I was unable to upload it. This account had the necessary amount needed to settle what they were requesting as well as an additional {$3900.00} pending. They stated that I still did not have enough assets to cover the {$9500.00} in closing costs ( which should have been less than {$8400.00} after I agreed to lower my interest rate ). Despite having the funds necessary to close, my closing date was still pushed back due to " lack of assets ''. No one took the time to check the statements and see that the two accounts combined exceeded the amount that they were requesting. I had to call and explain that one account had the funds alone and the two accounts combined  exceeded the amount that they were requesting. No one took the time to verify that they had information from two accounts. No one cared to keep us informed, no one cared that we were moving from one state to another, no one took the time to thoroughly review the information that I sent in to see that all requirements were fulfilled. It is the XXXX of XXXX they are now " anticipating '' that we close on the XXXX. We were told we HAD to have the electricity and the water as well as the Home Owner 's insurance all scheduled to be active BEFORE the closing on the XXXX. So today is the XXXX and all of that is active and we can not even access the home. No one cares what happens to my children while we are homeless for 4 days. No one cares about the additional {$500.00} that we have to spend on the XXXX, the spoiled food we have to now replace, or the fact that we literally have nowhere to stay while we wait on them to " figure it out ''.

Company response to consumer: Closed with explanation