Consumer complaint received 2025-03-24 00:00:00
Product: Mortgage — FHA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Negative impact of inaccurate appraisal
Company: Rocket Mortgage, LLC
State: NJ

Complaint narrative:
Final CFPB Complaint Submission Category : Mortgage Subcategory : Mortgage XXXX XXXX XXXX XXXX Consumer Complaint Against Rocket Mortgage , LLC Complainants : XXXX XXXX & XXXX XXXX Address : XXXX XXXX XXXX, XXXX, NJ XXXX Defendant : Rocket Mortgage , LLC ( formerly Quicken Loans ) Corporate Address : XXXX XXXX XXXX, XXXX, MI XXXX Complaint Summary ( Fraudulent Lending, Forced Loan Modification, False Credit Reporting, and Financial Harm ) We are filing this complaint against Rocket Mortgage , LLC for fraudulent lending practices, predatory loan servicing, misrepresentation of our homes value, forced loan modification, and false credit reporting, all of which have caused severe financial hardship and significant economic losses. 
We have made multiple attempts to correct these errors and seek fair financial relief, yet Rocket Mortgage has refused to take accountability for their actions. Their misconduct has cost us hundreds of thousands of dollars, denied us access to refinancing, and forced us into unsustainable financial positions. 
We are fully committed to restoring our financial health and pursuing all available legal remedies. This complaint serves as a formal notice of our intent to escalate the matter to regulatory and legal authorities, including civil litigation if necessary. 

XXXX. Fraudulent XXXX Appraisal & Home Value Misrepresentation In XXXX, Rocket Mortgage approved our mortgage based on an inflated home appraisal conducted by their affiliated company, XXXX XXXX ( now XXXX ). 
The appraisal contained an incorrect property drawing, falsely inflating the homes square footage by over 400 sq. ft., leading to an inflated property valuation of {$480000.00}. 
A XXXX XXXX appraisal ( which we appealed and was verified ) later revealed that the actual livable space was significantly lower, confirming the XXXX valuation was false. 
This fraudulent valuation caused us to overpay on mortgage interest, closing costs, property taxes, and insurance based on an inflated loan balance. 

XXXX. Denial of FHA Refinance & Home Equity Access Due to Rocket Mortgages Own Errors In XXXX, we attempted to refinance with XXXX using an FHA product to access our home equity and secure fair loan terms. 
Our application was denied and rescinded due to : The XXXX appraisal proving our home was worth {$100000.00} LESS than what Rocket Mortgage originally claimed. 
A fabricated " missed payment '' mark reported by Rocket Mortgage, which falsely impacted our credit score and disqualified us from FHA financing. 
Due to this wrongful denial, we were forced to max out high-interest credit cards, deteriorating our financial health and net worth. 

XXXX. Forced XXXX-Year Loan Modification Without Disclosure or Consent In XXXX, Rocket Mortgage forced us into a XXXXyear loan modification without prior notice, without proper disclosure, and without a provided amortization schedule. 

XXXX. False Credit Reporting & Financial Harm Rocket Mortgage falsely reported a missed mortgage payment, despite our documented proof of on-time payments. 
This fraudulent credit mark directly prevented us from obtaining better financial products, including the FHA refinance that could have provided relief. 
We have filed multiple disputes with credit bureaus, yet Rocket Mortgage has refused to correct their false reporting, in violation of the Fair Credit Reporting Act ( FCRA ). 
Financial Impact : Loss of refinancing options due to inaccurate Loan-to-Value ( LTV ) ratios. 
Loss of home equity access, forcing us into high-interest debt. 
Long-term credit damage impacting our ability to secure financial relief. 

How This Has Harmed Us ( Consumer Impact & Legal Considerations ) Loss of Financial Stability Due to Fraudulent Lending Overpayment on a mortgage balance that was inflated due to fraudulent appraisal. 
Increased property taxes and insurance costs tied to an incorrect home valuation. 
Loss of Home Equity & Access to Fair Loan Products Denied an FHA-backed refinance due to Rocket Mortgages false LTV ratios . 
Denied fair home equity loans, forcing reliance on high-interest credit cards. 
Reduced financial security due to loss of available assets. 
Unfair Loan Modification & Deceptive Practices Forced into a XXXXyear modification without disclosure or consent. 
Denied the ability to fairly renegotiate or restructure loan terms.

Credit Damage & Long-Term Financial Harm False missed payment reported, damaging credit score.

Higher borrowing costs due to incorrect credit reporting. 
Inability to access financial products at competitive rates. 

Requested Resolution & Legal Intent We demand immediate action from Rocket Mortgage to correct the financial harm they have caused, including : Immediate Correction of Credit Reporting Errors : Remove the false negative mortgage payment entry from all credit bureaus ( XXXX, XXXX, XXXX ). 
Loan Reassessment & Fair Financial Relief : Recalculate our mortgage balance based on an accurate, fair property valuation.

Provide a clear breakdown of terms for any future loan modifications, including amortization tables and interest calculations.

Financial Compensation for Damages & Losses : Reimburse us for overpayments due to the fraudulent XXXX appraisal. 
Compensate for lost refinancing opportunities and increased financial hardship caused by their errors. 
Provide damages for credit harm and financial distress. 
Regulatory Investigation & Enforcement : CFPB must investigate Rocket Mortgages deceptive lending practices.

Appropriate penalties should be issued for violations of mortgage servicing laws, appraisal misrepresentation, and false credit reporting.

Supporting Evidence : Please Exhibits within sync share storage access link : XXXX XXXX XXXXXXXX # XXXX Exhibit Descriptions Exhibit A- XXXX XXXX Appraisal Report ( Proving Fraudulent XXXX Valuation ) Exhibit B- XXXX vs. XXXX Appraisal Comparison ( Showing Incorrect Square Footage & False Valuation ) Exhibit C -Credit Bureau Reports with False Missed Payment Entry Exhibit D- Formal Dispute Letters Sent to Rocket Mortgage Regarding Credit Errors Exhibit E- Loan Denial Letters Due to Incorrect LTV Ratios Exhibit F- XXXX Loan Modification Agreement ( Forced XXXXYear Term Without Notice ) Conclusion & Next Steps We are fully committed to restoring our financial health and holding Rocket Mortgage accountable for their fraudulent and harmful practices. 

Thank you for reviewing our inquiry

Company response to consumer: Closed with explanation