Consumer complaint received 2025-11-25 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — Changes in loan terms during or after closing
Company: Rocket Mortgage, LLC
State: TX

Complaint narrative:
I am filing a complaint regarding Rocket Mortgages handling of my refinance, specifically involving inaccurate disclosures, missing redisclosures, and a failure to provide a revised appraisal promptly as required under federal law.

I received an appraisal report showing a value of {$990000.00}. Later, without any notice to me, the appraiser completed an addendum revising the value to {$930000.00}. This addendum was completed on XX/XX/year>, but Rocket did not notify me, did not provide me with the revised appraisal upon completion, and did not issue a Revised Loan Estimate reflecting the new valuation. I did not receive the revised appraisal until I specifically requested it weeks later.

Under the ECOA Valuations Rule, lenders must provide borrowers with copies of all appraisals and written valuations promptly upon completion. Under TRID, a change in property value is a changed circumstance that requires a Revised Loan Estimate within three business days. Rocket did not comply with either requirement. The first time I saw the {$930000.00} value was on the Closing Disclosure, which is not an acceptable substitute for a Revised Loan Estimate when the valuation affects pricing, points, or loan-to-value.

In addition, prior Loan Estimates repeatedly showed large and unexplained increases in discount points even before the valuation allegedly changed. I was originally quoted XXXX points and a {$1500.00} lender credit. Later Loan Estimates began showing points ranging between approximately {$9700.00} and {$15000.00}, without any valid changed circumstance being disclosed. When I questioned the fluctuations, Rocket informed me the points were only showing because they were still calculating my taxes, and that the points would come off once tax information was finalized. This did not occur. Taxes and escrows were also not disclosed properly on any Loan Estimate.

The combination of unexplained pricing changes, failure to disclose the revised appraisal, failure to issue required Revised Loan Estimates, and explanations that do not match the actual timeline of documents caused significant confusion and made it impossible to evaluate the loan terms accurately. These issues prevented me from understanding the true costs of the loan or making informed decisions during the process. 

XX/XX/year> Initial Loan Estimate Issued Loan Estimate showed XXXX points and a {$1500.00} lender credit, consistent with the original quote. 
Estimated value used : {$1.00} XXXX. 
Escrows were expected to be included. 

XX/XX/year> Second Loan Estimate Issued Points suddenly increased to approximately {$9700.00}. 
No changed circumstance was disclosed. 
XXXX and valuation still based on {$1.00} XXXX. 
No Revised Loan Estimate tied to any pricing change. 

XX/XX/year> XXXX XXXX Completed Appraised value : {$990000.00}. 
This original appraisal was provided to me. 

XX/XX/year> XXXX XXXX XXXX Issued Points increased again to approximately {$15000.00}. 
This occurred before any appraisal revision. 
XXXX began giving verbal explanations incorrectly linking points to tax calculations. 
Escrows for taxes/insurance still not shown accurately. 

XX/XX/year> XXXX XXXX XXXX Issued Points remained inflated ( ~ {$15000.00} ). 
This was XXXX days BEFORE the revised appraisal existed. 
No valuation change disclosed to me. 
No Revised LE issued. 

XX/XX/year> XXXX XXXX Completed The XXXX completed a revised valuation : {$930000.00}. 
The lot size was corrected and new structural concerns were added. 
I was not notified. 
I was not provided a copy of the revised valuation as required under ECOA.

I did not receive a Revised Loan Estimate within the 3-business-day TRID window ( deadline : XX/XX/XXXX ). 

Late XXXX Closing Disclosure Issued This was the first time I saw the revised {$930000.00} valuation.

The CD included higher points ( XXXX % ) based on a value I had never been told about. 
A CD can not replace a Revised LE when valuation affects pricing.

After Requesting Explanations Rocket stated pricing increased due to the revised valuation, but this does not match the timeline since points increased well before the appraisal addendum.

Rocket did not provide the revised appraisal until I specifically asked for it.

Disclosure Failures Rocket did not provide the revised appraisal addendum promptly upon completion, violating 12 CFR 1002.14 ( ECOA Valuations Rule ).

Rocket did not issue a Revised Loan Estimate within 3 business days of receiving the revised appraisal ( deadline XX/XX/XXXX ), violating TRID ( 12 CFR 1026.19 ).

The Closing Disclosure was used as the first disclosure of the new valuation, which is not allowable when LTV and pricing change. 

Pricing Inconsistencies Originally quoted : XXXX points + {$1500.00} lender credit. 
Rate lock reflected 0.895 % points ( ~ {$5800.00} ). 
Later Loan Estimates showed points of {$9700.00} {$15000.00}, without an associated changed circumstance. 
Points increased before the appraisal changed from $ XXXX to $ XXXX. 

Misrepresentation of Point Increases Rocket repeatedly told me the points were only appearing because they were still calculating taxes, and would disappear once taxes were finalized.

No Loan Estimate ever included proper tax or escrow amounts.

Taxes that the lender must pay on my behalf were not shown on any LE.

Appraisal Handling Issues Original appraisal : {$990000.00} received by me. 
Revised appraisal addendum : {$930000.00} completed XX/XX/XXXX, but not disclosed. 
This revision reduced value by {$60000.00}, yet : I was not informed No Revised LE issued The lender used the new value to change pricing without disclosure First appearance of the new value was on the Closing Disclosure.

Impact on Loan Terms Cash-to-close fluctuated by more than {$10000.00} with no compliant explanations.

Points nearly tripled from original quote and rate lock values.

I was presented with two unfavorable choices ( pay more at closing or accept XXXX % points ) based on undisclosed valuation changes. 

Consumer Harm I was not given a fair chance to understand the valuation change. 
I was not given the opportunity to challenge the new value ( ROV ). 
I could not compare terms with other lenders because disclosures were incomplete. 
I could not make informed decisions during the process.

Company response to consumer: Closed with explanation