Consumer complaint received 2015-12-30
Product: Mortgage — Conventional fixed mortgage
Issue: Application, originator, mortgage broker — 
Company: Rocket Mortgage, LLC (MO)

I was in the process of getting a mortgage through Quicken Loans. I felt my rate of 4.25 % was n't the best rate I could get, so I began looking at other banks in the area. I was told by XXXX XXXX that other banks would give me a lower interest rate, but then last minute say I would have to pay origination fees and points to keep that rate. Quicken Loans would not do that to me. So I stayed with Quicken Loans. When I received my first loan estimate, it had those closing costs of {$2100.00} ( {$790.00} origination fee + {$1300.00} for XXXX whole point ). I immediately contacted XXXX asking why those fees were there. He assured me that Quicken Loans would credit the entire {$2100.00}, and those would not be included in the closing costs. I was satisfied with this response until I saw a new Loan Estimate still showing {$1100.00} for XXXX points. I once again called to ask why that was there. I was again told that it would be gone and not affect me. At one point, I had been told that at closing, I would only need the 20 % down payment plus or minus {$100.00}, since the seller was paying closing costs of {$4500.00}. I received my final loan estimate, and it showed I was going to have an additional {$620.00} I would have to pay on top of the 20 %. I once again complained to them saying that if that {$1100.00} of points were taken off, the sellers {$4500.00} would more than cover the extra {$620.00} I was having to pay. They would not take the fee off, or believe that I should n't be charged for it. Finally, this morning, the morning of closing on the house, they called and admitted that when they listened to our conversations, I had been told that I would not be charged any origination fees or points. However, since the seller was paying for {$4500.00} of closing costs, the {$1100.00} was included in their expenses. They would not credit the {$1100.00} because it would make seller closing costs less than the {$4500.00}. I told them they could at least charge half a point, or something less, to make the extra money I had to bring to closing, be less. They refused and do n't believe it should be taken off, since the seller is paying for it anyway. This is an extra {$630.00} out of my pocket when I have just paid a 20 % down payment. I could really use that money at this time, and they have taken it from me. When I was at closing, the woman with the title company said they were terrible to work with. She and my realtor ( and a lender I spoke with afterwards ), all agreed that it looked like they were just charging bogus fees to eat up the seller 's {$4500.00}. They said it definitely seemed like fraud. I went and spoke with the lender in that office, and he confirmed that they had done me wrong. He said I should be able to get an interest rate of 4.125 % with no points or fees, yet they charged me {$1100.00} to get a rate of 4.25 %. The lender recommended I file a complaint here, as what they had done was completely unfair to me. Another complaint we had was that they really drew out the process of closing. My realtor thought I should be able to close almost 2 weeks before they let me.