Consumer complaint received 2024-06-27
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Fees or costs during the application process
Company: Rocket Mortgage, LLC (MA)

In XXXXXXXX XXXX XXXX I applied to refinance my mortgage with Rocket Mortgage. 

They took a {$500.00} payment under the promise they could deliver a loan under the terms quoted and disclosed. They were not able to deliver the quoted terms. Further, they then advised they would refund the amount, only to not do that. Instead they transferred me to another department who declined the {$500.00} refund request. Please see attached supporting email correspondence with Rocket Mortgage on the matter. 

XX/XX/XXXX ( see attached email # XXXX ) The mortgage broker advised an appraised amount of XXXX XXXX would be sufficient to refinance and within their Loan to Value guidelines. The Rocket Mortgage broker advised the loan was fine to proceed so long as the Loan to Value ratio remained below 89.99 %. 

XX/XX/XXXX Appraisal was completed at the as expected $ XXXX amount. 

XX/XX/XXXX ( see attached email # 2 ) The manager of the mortgage broker advised there was an error on Rocket Mortgage 's end in quoting the loan I paid a {$500.00} fee towards. The gentleman advised there was no jumbo loan product eligible. below 80 % Loan to Value. 

XX/XX/XXXX ( see attached email # 2 ) I advised I would like refund of the {$500.00} as the loan, as it was initially quoted, was ineligible- and that an appraisal never should have taken place. Rocket Mortgage send me a phone number to call. 

XX/XX/XXXX ( see attached email # 3 ) Representative I spoke with from Rocket Mortgage advised on the phone and emailed me saying the {$500.00} would be refunded in 5-10 days. 

XX/XX/XXXX ( see attached email # 4 ) I asked when the refund will occur. 

XX/XX/XXXX ( see attached email # 4 ) I received an email from a different Rocket Mortgage representative advising the appraisal that occurred was more than the {$500.00} deposit I made and therefore no refund would occur. I take issue with this because ( 1 ) the apprsaisal never should have opccured as it was done on false pretenses that the loan could be underwritten above a 80 % loan to value amount ( see email # 1 ), and ( 2 ) Rocket Mortgage had previously advised a refund would occur ( see email # 3 ). 

XX/XX/XXXX ( see attached email # 4 ) Previously the mortgage broker manager advised he would try to help so I asked him to appeal. He, again, referred me to the dispute department at Rocket Mortgage and told me to say that Rocket Mortgage was " unable to deliver on the terms of the loan ''. 

XX/XX/XXXX I called the the number I was told ( XXXX XXXX ) and spoke with a representative. I, again, recounted the events to them. They advised they would look into and and be back to me the following Tuesday ( XX/XX/XXXX ). 

XX/XX/XXXX They called and advised they would not refund the {$500.00}. They did not provide an email to substantiate. I insisted that Rocket Mortgage had improperly taken {$500.00} as they had no ability to make the loan quoted ( as outlined in the attached correspondence ), further - multiple representatives at Rocket Mortgage had since committed to refunding the {$500.00}. 



I have tried every avenue with Rocket Mortgage and have no other course of action at this point than to submit this complaint.