Consumer complaint received 2022-11-25
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: Rocket Mortgage, LLC (NH)

I applied for a refianance mortgage through Rocket Mortgage. I sent all of the documents and information that they asked for. After the request went through underwriting, it was determined that roughly {$120000.00} was the maximum amount of cashback I was allowed given my Debt to Income ratio. I agreed to this. I was sent, and signed the disclosure statement confirming the agreed-upon terms including this amount of chashback. A few days later, I received a phone call to schedule the closing. Going over the terms, the person on the phone mentioned that I was only to receive {$100000.00} cashback at closing rather than the agreed upon {$120000.00}. They could not give me an explaination as to why or how this amount changed. After several phone calls to Rocket Mortage, I was told the cashback amount was reduced AFTER I signed the disclosure statement. They said it was due to my Debt to Income ratio ; information that they had had for several weeks and that had already gone through underwriting. I subsequently read on their own website that the consumer must be sure of the agreed upon terms within the disclosure statement as none of the terms could be changed by the consumer OR lender after it was signed. During my conversations with Rocket Mortage, I only received conflicting information and a lot of backpedaling in their trying to explain how a change was made due to information that had already been approved through underwriting. Given that their own website states that they can not change any terms after the disclosure is signed, I asken them to explain how this was possible. The person said they can change terms if they send out a " redisclosure statement '' informing me of the changes. I told the person that at that point, it was about XXXX hours after my scheduled closing date and time and that I never received this " redisclosure statement ''. He quickly realized that, in fact, it was never sent out to me. He admitted this and offered to send the notice out then ; two hours after I was sheduled to close on the loan. Rocket Mortgage changed the terms of the loan after the signed disclosure statement, against clearly conflicting information on their website. Second, they never sent out the redisclusure statement as they, admittedly, were supposed to. Finally, they are now refusing to return my {$500.00} appraisal fee even though I was ready and willing to move forward with the loan as described to me and that I signed for. They really dropped the ball on this and I was sent rushing out for another loan option in the last minute and had to settle for subpar terms with another lender sue to their negligence. 

Below is copied directly from the lender 's website : " What happens after signing the Closing Disclosure?

After you sign the Closing Disclosure, you and your lender are not allowed to make any changes to the mortgage information. '' Here is a link to that page in detail : https : //www.rocketmortgage.com/learn/closing-disclosure Thank you, XXXX XXXX