Consumer complaint received 2025-02-12 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Changes in loan terms during the application process
Company: Rocket Mortgage, LLC
State: LA

Complaint narrative:
Previously in this form, it mentions that you may send my complaint directly to Rocket Mortgage. Contacting them is the last thing I want to do because they hold the recorded conversations. That is the only evidence I have in the crimes Im about to explain. With that being said, I need those phone calls subpoenaed. All of the crimes and laws that were broken were done verbally on those taped recorded calls. Having the calls in our possession is our only defense. Without the calls, theres a chance of them getting away with many crimes. The crimes that I believed that they are committing fall under predatory lending. 
Around XXXX of XXXX, I contacted Rocket Mortgage to inquire about a loan. Somehow, I ended up in negotiations with a woman about mortgaging my wifes house that she inherited. I believe this to be one of the crimes. From my research, the mortgage company can not negotiate with me about a mortgage on a house I do not own. They were supposed to gain written permission from my wife before ever speaking with me which they did not receive. ( I did not find out this about information until recently. ) During these conversations, the woman I was speaking with kept mentioning that I could recast this loan after 3 to 6 months ( I cant be certain on the amount of time ). She mentioned that I could drastically reduce the amount of my payment by doing this recast. I cant be certain on the exact details, but when I called about a year later to inquire about the recast ( around XX/XX/XXXX ), I spoke with a different representative and they told me that the recast would involve me putting down a large sum of money, however, the note was only going to go down a very little bit. I believe the reason the first representative mentioned the recast, was as a way to lure me into signing the original mortgage. The second representative said that a refinance would be better than a recast. ( I believe this to be a part of the big scam luring you in with the hopes of a recast and lowering the note, but then talking you into a refinance. ) I would like to point out here, that during the course of this loan, I would end up in phone conversations with several different representatives. During one of these conversations, I was on the phone with a gentlemen who gave me the option to borrow more money. I believe the highest offer I received was around {$80000.00} or more. He used phrases like isnt more money better than less money and would I lie to you, etc. From my research, offering me money that I didnt asked for or need is a crime. I believe this is called unsolicited lending. I also believe this is a part of the predatory lending where they offer me more money to put me in a position that will result in me defaulting on the loan and the mortgage company repossessing the house. 
Eventually, I ended up being talked into refinancing because I was promised a lower interest rate, they would knock 10 years off the loan, I was also getting a lower note and I would receive approximately {$3000.00} back. However, each time I called during this process, different people would answer the phone and give me conflicting information on the amount of money back or what my new loan amount would be, etc. Those figures changed with each phone call. At some point we were asked to sign papers in our Rocket portal. I remember being reluctant in signing these papers, because the numbers didnt look correct. Im not 100 % sure, but I think I remember them saying they needed the papers signed to go forward with the refinance and that those numbers were going to change the closer we got to closing. I do remember that each time I called, the amount of cash I was supposed to receive back at closing changed. It went from {$3000.00} to {$1000.00} to {$0.00} then back to {$1500.00} ( figures are approximate ). Im also not 100 % sure, but I seem to remember talking to someone about backing out if I couldnt get the {$3000.00} that was originally promised. To try and sum this up, when we went to sign the papers, the stack was about a foot tall. I believe this was an intimidation tactic so that we wouldnt read the papers. A key point that I need to point out, was that we were rushed throughout this entire process. Hurry up and lock in the loan while the interest rate is this low or youre going to miss it. In the end, we did receive the lower interest rate and 10 years was knocked off the loan ; however, we did not receive {$3000.00} ( we received a lower amount ) and the note was not lower. This is another part of the scam. This is how I believe it works giving us the lower interest rate and them reminding me that Im saving {$100000.00} in interest payments, is a distraction to get me to refinance. All the while, my note stayed basically the same because they know that my note is the maximum that my salary can afford. The 10 years off is actually because I didnt accept one of the larger amounts. It was actually protecting Rocket Mortgage from losing 10 years of equity. Why would they take {$100000.00} off the loan when I was already locked in and I wasnt complaining? And by refinancing after one year of the loan, the majority of my payment is still going to the interest and not the principal.

I think Ive given you enough information to start. We can always discuss this further. I suspect that Rocket Mortgage is a company that only exists on paper. They have no physical branches and you can not speak to the lender. I also suspect that they are a front for some type of criminal organization. They do legitimate business involving large sums of money, kickbacks and payoffs all to distract the authorities. If they are investigated, it would seem that they would look at the large sums of money that was loaned out instead of the small sums of money that was obtained using predatory lending. They prey on individuals that are handicapped, elderly, low income, and do not understand the terms of the loan. This is so that in the case one of these individuals does realize theyve been scammed, they will accept a settlement rather than bringing them to court. This may seem like a large amount to the individual that is being scammed but is just a small drop in the bucket for Rocket Mortgage. I would compare it to Loan Sharking.

This is just my opinion or my theory. In closing, thats why its important to obtain those phone calls to see if there is something that I may have missed or left out. Im not doing this for money. I have nothing and if I end up with nothing, Im used to it. They have a lot to lose.

Company response to consumer: Closed with explanation