Consumer complaint received 2026-03-03 00:00:00
Product: Mortgage — FHA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Application denials
Company: Rocket Mortgage, LLC
State: FL

Complaint narrative:
It was my understanding that the mortgage application was based on documents, not " Intent '' as interpreted by some mortgage broker. Summary of exchange with Rocket Mortgage Initial contact was with XXXX XXXX, mortgage broker with Rocket Mortgage, who requested standard documents for review to put in their system for initial qualification. I uploaded documents such as bank statement-XXXX XXXX XXXX XXXX XXXX XXXX and XXXX XXXX account along with tax returns. XXXX informed me that I did not qualify but he could transfer me to a broker who could offer a traditional mortgage. I told him I had been prequalified with XXXX XXXX and XXXX XXXX and had he included the {$4000.00} distribution from my IRA? The bank statements showed a {$2000.00} distribution in XXXX, {$4000.00} withdrawn in XXXX and {$6000.00} in XXXX so I did not understand that IRA income could not be counted. At this point, XXXX went on vacation and the file was turned over to XXXX XXXX. He opened the portal and helped to upload the documents which had already been received through their miscellaneous port. Copy of email from XXXX XX/XX/year> Hi Team, I have reviewed the documents, and I was able to qualify her. I had discussion with underwriting on how we would document her draw. We have a game plan for documentation that may be requested in process and I have spoken to XXXX about next steps. She will be signing her documentation as soon as shes home this evening. Then we will be able to go into process. From what I am looking at in regards to closing times, an early XXXX closing date should be no XXXX XXXX Support Banker | Rocket Mortgage | XXXX XXXX XXXX XXXX ( XXXX ) XXXXXXXX XXXX XXXX XXXX Copy of email from XXXX XX/XX/year> Good Morning, If it is not accepting the file, typically its due to it being too big. We should have most of this on file already. So you may need to separate a portion that document as youre uploading. For the IRA. We must take the draw from there as this is your source of income. We are showing continuance of this for 3 years due to the balance you have in this account. We shouldnt need a P/L statement due to the fact you are not receiving income from XXXX as we talked about. I am leaving detailed notes for underwriting on that portion. XXXX XXXX Support Banker | Rocket Mortgage XXXX XXXX XXXX XXXX XXXX ( XXXX ) XXXXXXXX XXXX XXXX XXXXXXXX Email from XXXX XX/XX/year> We were able to send this into process. Initial underwrite was complete but underwriting needed further clarification with proof that the {$4000.00} a month draw would continue. ( We have proof of receipt, that XXXX has already sent. ) They were requesting either : An award letter from XXXX Or An email/ written statement from the account manager advising of the updated distribution amount. XXXX XXXX Support Banker | Rocket Mortgage | XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX At this point, I uploaded the Verification letter from XXXX on their letter head : Dear Per your request, this letter will serve as verification of the XXXX account ( s ) that have a combined balance ( More that 2 times amount of loan ) of at least as of XX/XX/year>. The Traditional IRA,, Art, Brokerage Account, can request to liquidate these assets at any time and those proceeds can be used at their discretion. Traditional IRA Brokerage Account Per XXXX this is supplied and accepted by most mortgage companies. During this time, XXXX called and continued to ask about continuing {$4000.00} withdrawals from my IRA.I was not informed that he was taping the conversation as the calls came from various numbers.During this discussion I indicated that I had other cash nontaxable from my corporation that I could use to pay the mortgage as the IRA distributions were all taxable above the required minimum distributions. He requested copies of the corporate returns which I supplied and which indicated approximately {$550000.00} in cash. A text message which included XXXX XXXX and XXXX XXXX indicated that the withdrawals from my IRA did not have to continue if there was other cash. At this point in the conversation, XXXX started to shout at me that he never said that and he continued to call me a liar. I told him I could forward a copy of the text message which I did. I this point I was sufficiently confused about his behavior. XXXX showed a remarkable lack of understanding of self-directed IRAs and continued to ask me to get something from an account manager which I do not have as I make my own investment decisions. He did not understand the balance sheet and retained earnings reconciliation on the XXXX returns. He continued to say that the corporation assets could not be included. XXXX XXXX Mortgage broker for XXXX, XXXX attempted to work with XXXX as he had done the original prequalification and was familiar with the documents. At this point, XXXX attitude became adversarial and I discussed it with XXXX. I also uploaded the confirmation of the {$4000.00} automatic withdrawals from my IRA XX/XX/year> I received this from Rocket Mortgage : Your loan has reached the next step. Rocket Mortgage XXXX XXXX XXXX XXXX XXXX In Process Congrats! Your loan is conditionally approved. XX/XX/year> I received this from Rocket Mortgage Your loan has reached the next step. Rocket Mortgage logo XXXX XXXX I received this email that I was being turned over to Rocket Settlement company for the title work. I informed XXXX XXXX that the seller had chosen XXXX XXXX. I guess they assumed I would be using them but they had a copy of the contract. Rocket Mortgage logo XX/XX/year> We're getting started on your title documents Hi, We're Rocket CloseXXXX and we're excited to partner with Rocket Mortgage Assumptions to make your Purchase of XXXX XXXX XXXX XXXX a success. We've started working on your title documents and we'll provide updates as your transaction progresses. Everything was progressing when I received a phone call from XXXX XXXX XX/XX/year> that although they had received the documents from XXXX the underwriters were disallowing All of the income from the IRA due to my intent which XXXX based on the casual discussions that I was not going to continue the IRA distributions. I told him that was not true I had obviously set up the distributions from XXXX for 36 months which was the longest Time period I could set up. He said that they did not believe me and my intent disallowed any IRA distributions. He then proceeded to review the other income and told me I was not qualified and I would receive a declination letter. I sent an email to them telling them that their understanding of my intent was false and offered to sign an affidavit. XXXX told me that would not suffice. XXXX indicated his License was on the line so they had to decline the loan.

Company response to consumer: Closed with explanation