Consumer complaint received 2020-10-11
Product: Mortgage — VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: Rocket Mortgage, LLC (GA)

I am a veteran, and I applied for a loan with Quicken loans. I stated I was a veteran. I asked for the credit score needed for mortgage approval, and I was told the required score was XXXX and for a VA loan, also XXXX. My credit score was XXXX. I spoke to a representative at Quicken loans on XXXX, and was then transferred to a lending representative for Quicken loans. 

I submitted everything requested and I received a pre-approval letter for my realtor on XXXX for a VA 30 year fixed at {$400000.00}. In addition, I received an email from the lender, Quicken loans on XXXX, stating there would be no lending fee ( XXXX Veteran ), and the closing costs were estimated at 3 % for Georgia. 

On XXXX, I was told by the loan specialist for Quicken loans that I needed to remove two disputes on my credit report. I told the credit specialist I want the dispute to remain due to inaccuracies on my credit report. I was told if I do not remove the disputes, the VA would not approve my loan. 

I contacted the VA loan specialist on XXXX, and I was told the dispute for the student loans was based on what was reported, and I was not in default, and my credit report states pays as agreed. The other dispute was based on the account does not belong to me and I have disputed this for six years. It will come off my report when I file a dispute, but will later show up again. The VA loan specialist stated this would not impact my loan approval. I stated the lender, Quicken loans, stated to my that I must remove the disputes or the VA will deny my loan. The VA loan specialist stated this was not true. 

I contacted the VA loan specialist and stated what was communicated to me by the VA loan specialist. He then stated to me that he can not approve the loan unless I remove the dispute. I told him I can get a letter from the VA stating I do not need to remove the dispute. I also stated I had found a home and I am now stuck. I was told this was a policy of the underwriter, and when I try to close on the home, the loan will be denied. 

I asked why if I need a XXXX credit score and I have a XXXX, I had all of the documentation submitted, and I was provided with a letter of approval to my realtor to make an offer on a home, I should not have a problem with securing a mortgage. 
I submitted the dispute request form to him on XXXX. 

I received a second letter of pre approval for my realtor for the home on XXXX for an approval of {$430000.00} on a VA 30 year fixed loan. I attempted to make an offer on the home but I and my realtor were told to hold up because the lender stated the loan specialist was waiting for the dispute to be removed from my credit report. 

On XXXX, I informed my realtor the price came down for the home I wanted to make an offer for. She stated she can not do anything until the lender, Quicken loans, says she can now move forward with an offer. 

On XXXX, the dispute was removed from my credit report, but my credit score dropped to a XXXX. I was then told by the loan specialist that the reason why my score dropped was because of the dispute I claimed was not my account. He stated I could just pay it and my score may come back up. I stated that is why I disputed it initially. I was then told I no longer qualified for a loan due to my credit score not being a XXXX. 

Quicken loans were intentional in requiring that I remove the disputes on my credit report although I was approved, provided a letter to my realtor, and mislead into believing I would be able to secure a mortgage and purchase a home. I was also mislead into believing VA loan approval was the reason for the dispute removal. I was also placed into the position of possibly lowering my credit score if I were to seek out another lender. I believe Quicken loans knew or should have known the dispute removal would lower my credit score. I had to provide the information on the home I wanted to purchase, which was located in a  predominantly white neighborhood. I am XXXX American. 

I am a first time homebuyer, an XXXX, and a XXXX veteran. This never should have happened to anyone. I believe the actions of Quicken loans was intentional. The home is off the market and I can not qualify for a home loan unless until my credit score increases. In addition, if I go with another lender, my credit score will likely be impact from a hard pull of my report.