Consumer complaint received 2019-10-11
Product: Mortgage — FHA mortgage
Issue: Trouble during payment process — 
Company: Rocket Mortgage, LLC (OH)

When refinancing your mortgage goes wrong. 

Quicken Loans is in the practice of extending refinance offers to consumers by fudging the numbers and despite them making errors and acknowledging the errors made, I am stuck to pay for the mistake, a cost of {$800.00} in reduced escrow balance and one Quicken Loans is refusing to pay for and has left the cost on me. 

Back on XXXX, I decided to make the leap and purchase a home. Originally, I wanted to go with a mortgage company that was local to the XXXX area, but I opted to procure my mortgage with Quicken Loans. The process seemed pretty easy as I worked with my realtor and I proceeded to find a home that fit my budget and my needs. I closed on my home on XX/XX/XXXX and made sure to pay my mortgage every single month ( {$1000.00}. ) In XX/XX/XXXX, Quicken Loans was hosting a contest to win {$2000.00} for the summer. One of the conditions of the contest was to learn more about the mortgage or refinance process. Since I already had a mortgage, I opted to learn more about refinance process. Once I clicked that button, that started a phone process where a refinance agent attempted to call me. The first few phone calls I did decline due to scheduling, but I did accept one of the phone conversations on XX/XX/XXXX. At that time, I spoke with a XXXX XXXX XXXX phone : XXXX ) During the call, he advised that he could get me lower rates and would need to run my credit in order to verify. At the time of the call, my credit was ran and the credit score was shared with me. XXXX then shared some more information with me regarding a streamline loan process and advised the rates of my loan could be lowered from 4.865 % to 4.125 %, which would lower my monthly payment. He also advised that there wouldnt be any appraisal needed and that there would be limited to ZERO money down for the refinance. I also shared some details with XXXX regarding an employer partnership program that my employer had with Quicken Loans and how that discount could apply to my closing cost. XXXX did ask for additional information, which I sent over via email on XX/XX/XXXX. XXXX informed me that he would need to do some more research and would call me back to let me know if there were any other rate options. I told him that I would consider some of the details he shared and try to determine my next steps. During this time, I still made my XXXX mortgage payment to ensure my mortgage stayed current. 

Later on the evening of XX/XX/XXXX, XXXX called me back and shared with me what the payment options would be. At the time of the call, I told XXXX that I would want to take some time in order to determine if Quicken Loans were the best for the refinance process. During that call, XXXX seemed to be a bit tense and persistent with trying to ensure me the rates offered by Quicken Loans were the best and should prevent me from needing to shop around. At that time, I decided to concede and allow for the refinance process to continue and completed the e-sign documentation. On XX/XX/XXXX, I received email correspondence that was related to the refinance loan application and on XX/XX/XXXX, I received an email from XXXX XXXX XXXX   regarding my refinance information and title insurance. 

From XX/XX/XXXX until XX/XX/XXXX, there was very little contact made with me during this process. There were no details shared with me regarding status of the refinance, rates, or any other details. At that point, I became extremely frustrated with the process, including some misinformation received and the lag time of details being shared and communication not being maintained with me. In the midst of the refinance process, I received a phone call on XX/XX/XXXX from XXXX XXXX XXXX XXXX x XXXX ) a Resolution Advocate from Quicken. During this call with XXXX, I shared my frustrations with her and she was able to share the concerns and feedback I had with the additional Quicken Loans staff. XXXX told me the approximate timeframe of my close date and the first payment of my mortgage. Because the dates were misaligned with my home owners renewal date, I inquired about what would happen with my policy and which loan would cover the renewal payment. XXXX asked for the policy information, which I sent over via email ( email  confirmation given on XX/XX/XXXX. ) XXXX advised that she shared the renewal policy and the premium information with the Homeowners Team so they could factor the information into the premium and confirm the numbers. 

On XX/XX/XXXX, I received an email confirmation advising that my documents have been received. On XX/XX/XXXX, I was then told via email that my closing packet was ready online and that it was time to schedule my closing date. I signed all of my closing documents on XX/XX/XXXX and was prepared to make my first payment related to my refinance on XX/XX/XXXX for the amount of {$940.00}. I was told that everything was taken care of and was even given a refund of {$40.00} from my existing mortgage ( check has yet to be processed by me. ) On XX/XX/XXXX, I received an email from my homeowners insurance company ( XXXX ) advising that my renewal payment had never been received. Since I was going on vacation out of the country on XX/XX/XXXX, I planned to follow up on the renewal payment on XX/XX/XXXX. I retrieved my homeowners policy information directly from the website and confirmed that payment had not been rendered to my homeowners policy. Once confirmed, I called Quicken Loans to try to understand the misunderstanding and better understand if the payment had crossed in the mail. On XX/XX/XXXX, I spent nearly 2 hours on the phone, was transferred 7 times, and was told different information by several different employees. During this call, I was informed by XXXX XXXX XXXX XXXX ) that Quicken Loans originally issued a payment to XXXX, but that Quicken Loans placed a stop payment on this check. This then prevent my homeowners policy from being paid. XXXX also informed me that because it appeared a payment was made by the system, that the refinance amount was understated and that I was now responsible to pay for the homeowners policy myself. I will admit, I was beyond XXXX and frustrated that I was now being asked to double pay for insurance due to the fact I had already made the payments with my original mortgage and that now I have to pay an additional {$800.00}. I became very irate at the dismissal of my financial needs and that fact that I was now responsible to pay for the insurance myself. XXXX was able to get a payment overnighted to my insurance company since my renewal policy was due to renew on XX/XX/XXXX, but I now have an escrow account that is understated. I was left with no options despite Quicken Loans being responsible for the error. I was very XXXX off and asked to speak with someone else. I was told that I would be called after the holidays. I received my first call on XX/XX/XXXX and my last call on XX/XX/XXXX from the escalated consultant and was told that Quicken Loans did in fact make an egregious error but that there was nothing that Quicken Loans would do to assist me. I even asked for some monetary compensation to be provided by Quicken Loans in the amount of {$500.00} at minimum directly to my escrow account would be helpful, but again, Quicken Loans only told me that its now my responsibility to pay for the deficiency of my escrow account despite this being a Quicken Loans error. I am stuck with paying for the {$800.00} balance over the course of 24 months, which has raised my recently lowered refinanced payment higher than what was budgeted.