Consumer complaint received 2021-05-17
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: Rocket Mortgage, LLC (CA)

Parties 1. Plaintiff, XXXX XXXX, a United States citizen and resident of the XXXX of California. I am a XXXX-year-old, female of XXXX descent. I acquired my primary residence XXXX XXXX XXXX, XXXX XXXX, California, XX/XX/XXXX. 

2. Defendant, Quicken Loans LLC., a mortgage lending company headquartered in the XXXX XXXX XXXX  building in the heart of the financial district of XXXX XXXX XXXX Michigan XXXX In XX/XX/XXXX, the company became the largest overall retail lender in the U.SXXXX ( it is also the largest online retail mortgage lender ). Unlike other large mortgage lenders that depend on deposits, Quicken Loans relies on wholesale funding to make its loans and uses online applications rather than a branch system. XXXX and XXXX XXXX XXXX are also part of the Quicken Loans Family of Companies. The company closed more than {$400.00} XXXX of mortgage volume across all 50 states from XXXX through XXXX. 

3. Defendant, XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ( XXXX : XXXX XXXX XXXX ), Quicken Loans lending partner acting as a mortgage broker and agent XXXX XXXX XXXX XXXX XXXX, # XXXX, XXXX XXXX, CA XXXX, XXXX XXXX, Loan Officer, XXXX, XXXX : XXXX. 

Factual Allegations 1. Wed, XX/XX/XXXX at XXXX XXXX, Loan Application : XXXX XXXX, XXXX, wrote XXXX XXXX XXXX XXXX : Congratulations! Your loan application has been securely submitted. Click below to view the status of your loan application. 

2. Thu, XX/XX/XXXX at XXXX XXXX, Notice Closing of Mortgage : Quicken Loans, XXXX wrote XXXX XXXX, XXXX : congratulations on closing your mortgage. 

3. Thu, XX/XX/XXXX at XXXX XXXX, Notification from Rocket Mortgage : Your mortgage statement for the loan ending in XXXX is ready! 

4. Thu, XX/XX/XXXX at XXXX XXXX, Notice of Right to Cancel ( Lender Quicken Loans, LLC ) : XXXX XXXX, XXXX wrote XXXX XXXX, Loan Officer, XXXX : As I stated in our conversation yesterday, these fees are excessive and I have not paid then in the past when I initially purchased my home and previously when I refinanced my home. Please be advised I will not be moving forward with the transaction. I will execute and forward the Notice of Right to Cancel to Quicken Loans, LLC. 

5. Thu, XX/XX/XXXX at XXXXXXXX XXXX, Acknowledgment Notice of Right to Cancel : XXXX XXXX, XXXX wrote XXXX XXXX XXXX XXXX : Okay, we will stand by while you forward the right to cancel to quicken. Let us know if you need anything else. 

6. Fri, XX/XX/XXXX at XXXX XXXX, Notice of Right to Cancel : XXXX XXXX, XXXX wrote XXXX XXXX, XXXX : Thank you for taking time to speak with me regarding the Notice of Right to Cancel form I signed and mail as defined the form. As requested, attached is a copy of Certificate of Mailing from the USPS. I have also provided the email communications with your mortgage partner, XXXX XXXX, XXXX XXXX XXXX advising that I would be canceling the refinancing of my home and not be moving forward with the transaction. 

7. On Friday, XX/XX/XXXX, XXXX XXXX PDT, XXXX, XXXX XXXX wrote XXXX XXXX XXXX XXXX XXXX : I left you a voicemail and am following up with an email as advised. Thank you once again for your assistance. Please find attached the return wiring instructions that can be provided to help your current mortgage holder in returning the funds. Additionally, any detail they can provide regarding what is required to have the loan reinstated would be appreciated. 

8. Friday, XX/XX/XXXX XXXX XXXX, XXXX XXXX, XXXX wrote : XXXX, XXXX XXXX : XXXX XXXX XXXX  advised me they will work with XXXX XXXX XXXX to get the funds wired for the payoff of my mortgage returned. 

9. Monday, XX/XX/XXXX XXXX PM, XXXX XXXX, XXXX wrote : XXXX, XXXX XXXX On Friday, I spoke with XXXX XXXX XXXX and I was told XXXX XXXX, XXXX is work with XXXX XXXX to return the mortgage payoff funds. XXXX welcomes the opportunity to provide additional information and status updates. Thank you. 

10. Monday, XX/XX/XXXX XXXX XXXX wrote : XXXX, XXXX XXXX Thank you for the follow up. I will ensure our team is aware of XXXX and her involvement. Were you able to make contact with the homeowners insurance company? I ask because as previously mentioned they will not speak with XXXX as they are a third party. Please do give me a call at your earliest convenience as we need to address the return of the funds disbursed to pay taxes as the taxing authority has advised they will not return funds that have already been applied. 

11. XX/XX/XXXX, letter from XXXX XXXX XXXX wrote XXXX XXXX, XXXX : in order to reinstate your loan, you must provide XXXX a hand written request for loan reinstatement which includes your XXXX loan number, the date the loan was paid off and the amount, and the reason for the request to have the loan reinstates. This will need to be faxed to the XXXX XXXX at XXXX, see attached letter dated XX/XX/XXXX, Quicken Loans. 

12. Thu, XX/XX/XXXX XXXX XXXX  XXXX XXXX, XXXX wrote XXXX XXXX, XXXX : I have not received any funds from my insurer nor for taxes therefore I have no accountability to return those funds. I need to stop this insanity that your company and lending partner created. I must focus on managing my current health crisis and rehab. At this point I have no other recourse but to rescind my right to cancel the loan, keep the loan with your company with the condition that the first mortgage payment will be due XX/XX/XXXX, as I have continued to pay my mortgage payment to XXXX. Thank you. 

COUNT I ( UNFAIR LENDING PRACTICES INVOLVING NOTICE OF RIGHT TO CANCEL ) The facts made above are hereby realleged as though fully set out and incorporated by reference herein. 
XX/XX/XXXX XXXX  XXXX, XXXX ( 41 days ) It is impractical and unfair for Quicken to hold Plaintiff accountable for errors and omission made by Defendant and their agent for funds disbursed XXXX XXXX XXXX, homeowners insurance {$610.00} and property taxes {$1800.00}. Per Notice to Cancel Loan, Your Right to Cancel reads : o If it is impractical or unfair for you to return the property, you must offer its reasonable value. If we do not take possession of the money or property within 20 calendar days of your offer, you may keep it without further obligation. 
After 41 days, the reasonable value Plaintiff offered Quicken was rescind Plaintiffs right to cancel the loan, keep the loan with Defendant with the condition that the first mortgage payment will be due XX/XX/XXXX. 
COUNT II ( UNFAIR TRADE PRACTICES INVOLVING NON-COMPLIANCE ) The facts made above in paragraphs 7 12 are hereby realleged as though fully set out and incorporated by reference herein. 
The reinstatement document ( s ) were not given by Plaintiff, and after Defendant had purported to provide the reinstatement document to XXXX XXXX XXXX 
As a direct, proximate, and foreseeable result of Plaintiffs actions, Defendant is subject to loss of assets and other damages as a result of Plaintiffs actions. 
Defendant attempted to settle this matter over the course of a XXXX period. Defendant acted in good faith to resolve the issued presenting an equitable settlement. XX/XX/XXXX Defendant advised Plaintiff to rescind the notice of cancelation, keep the loan with the Defendant which would make all parties whole. Without notifying Plaintiff, declined Plaintiffs resolution and in fact on XX/XX/XXXX, contacted XXXX XXXX XXXX advised that monies were sent in error and directed them to return funds. 
Based on the preponderance of the evident the Defendant has no liabilities for the error, omissions, and unilateral decision of the Plaintiff. In the absence of any signed authorization by the Defendant to reinstate the loan and written disclosures about important terms of credit Defendant is not legally bound to pa

y Plaintiff any monies. COUNT III Federal Truth
in Lending Act ( TILA ) Defendant knew or should have known that its conduct was unreasonable and illegal. Furthermore, Defendants acts were carried out in willful and conscious violation of Plaintiffs rights as defined by the Truth in Lending Act, which mandates that borrowers receive written disclosures about important terms of credit before they are legally bound to pay. 
As the result of misinformation and predatory practices, that disproportionally affect women and XXXX American borrowers, which Plaintiff is both a woman and of XXXX descent ; Plaintiff suffered the following harm : Inadequate Disclosures : o Quicken failed to fully disclose and explain the loan transaction policies. 
o XXXX took advantage of my circumstances and ignorance of their respective policies by providing conflicting, inaccurate, and misinformation. 
o Quicken lending tactics were deceptive and attempt to take advantage of my lack of understanding of financial terms and the rules surrounding their respective loan policies. 
o Quicken failed to provide sufficient information. 
o Quicken engaged in unfair and deceptive lending practices Count IV Consumer Financial Protection Act ( CFPA ) and the Dodd-Frank Act Defendants Defendants actions were willful, wanton, malicious and violated their written protocol, by ( 1 ) materially interferes with a consumer 's ability to understand a term or condition of a consumer financial product or service ; or ( 2 ) takes unreasonable advantage of ( A ) a consumer 's lack of understanding of the material risks, costs, or conditions of the product or service ; ( B ) a consumer 's inability to protect his or her own interests when selecting or using a product or service ; or ( C ) the consumer 's reliance on a covered person. 

As a consumer Plaintiff had a reasonably good faith belief that Defendants actions violated Consumer Financial Protection Act ( CFPA ) and the Dodd-Frank Act.