Consumer complaint received 2022-10-31
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: Rocket Mortgage, LLC (OH)

To Whom It May Concern : I wish to submit a formal complaint against Rocket Mortgage a.k.a Quicken Loans ( hereinafter Rocket ) for employing deceptive tactics regarding a mortgage loan. 

In approximately XX/XX/XXXX, Rocket preapproved me for a home loan. That preapproval was renewed in XX/XX/XXXX. In XX/XX/XXXX, I began the process of purchasing my current home during which, I had multiple conversations with Rockets representative. We thoroughly discussed the terms of the loan and what I could afford as my monthly payments. I also informed him that I was considering other lenders and particularly a local lender. However, Rockets representative assured me that they could provide the best closing terms. When I received the final numbers for closing, my cash-to-close was more than {$3000.00} below what other lenders could offer which appeared to be the best offer for me ; therefore, I proceeded to secure my mortgage loan through Rocket. On or about XX/XX/XXXX, I received my Closing Disclosure and on XX/XX/XXXX, I closed on the purchase of my home. It was my understanding that an escrow account was set up for the payment of my property taxes and home owners insurance. 

In approximately XX/XX/XXXX, I noticed on the countys website that my property taxes were showing as delinquent. I immediately called Rocket to determine why my property taxes were not paid. I was advised that regardless of what was showing, the deadline for payment had not passed. In approximately XX/XX/XXXX, I received a notice from the county that my property taxes were delinquent. I immediately called the county to determine the issue and was advised that the taxes were never paid for XX/XX/XXXX. I immediately called Rocket to determine why they had not paid the property taxes in XX/XX/XXXX and was advised that they would look into it and get back to me. 

On or about XX/XX/XXXX, I spoke with Rockets representative who confirmed that Rocket made a mistake and the property taxes were in fact NOT paid. When I inquired how something like this could occur, she explained that the monies collected for taxes were given to me at closing and that I was responsible for directly paying the property taxes that became due in XX/XX/XXXX. I responded that I had not received any monies at closing and that I was never informed I would be responsible for making any direct payment. I then reviewed with her the terms indicated on my Closing Disclosure and specifically pointed out that the forms provide that my portion of the taxes was included in my closing costs and the sellers portion was included in their closing costs so the property taxes were made available and should have been paid. I further pointed out that Section L of the Disclosure clearly states that the sellers portion of taxes was PAID ALREADY BY OR ON BEHALF OF BORROWER AT CLOSING. She acknowledged that Rocket failed to disclose this information and was at fault but went on to state that the property taxes needed to be paid and would be sent from my escrow account. She further advised that this would result in an escrow shortage and that my monthly payment would be increased unless I could pay it in one lump sum. She ended the call by stating that she would follow up with me on XX/XX/XXXX with further information regarding repayment. 

On or about XX/XX/XXXX, I was able to see that a disbursement in the amount of {$3700.00} was made from my escrow account to pay property taxes. I immediately called Rocket and it was suggested that we conference in the title company. Upon contacting the title company, it was explained that no monies were physically handed to me at closing nor was I informed of needing to make a direct payment for property taxes. She further explained that the monies collected from the seller to cover their portion of the property taxes were applied against my cash-to-close. My Closing Disclosure fails to reflect that any funds were PAID TO THE BORROWER and, most importantly, that the borrower needed to directly pay property taxes coming due in XX/XX/XXXX. It is therefore my position that Rocket Mortgage manipulated the terms of my loan making the closing terms appear more attractive in order to secure me as a borrower. 

I am able to provide the names of Rockets representatives and further documentation upon request. 

Thank you for your time and attention. 

Sincerely, XXXX XXXX XXXX XXXX