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Rocket mortgage is a Fannie/Freddie mortgage mill. If the mortgage doesn't tick all the conventional mortgage boxes and can't be instantly sold the government,
by hnuser847 4y ago
Rocket mortgage is a Fannie/Freddie mortgage mill. If the mortgage doesn't tick all the conventional mortgage boxes and can't be instantly sold the government, they won't write it. You're much better off working with local banks or credit unions, who may be willing to keep the loan on their books.
- MSM 4y agoYep. But looking at it as a shareholder, I don't think this should have been a negative. Spending a lot of time to work with an individual client in order to make $1k-$2k or whatever they make ushering a loan over to fannie or freddie is not good business- especially during the recent market.
- acjohnson55 4y ago^ This. They should have been honest with OP about what the limitations are. Conforming loans (i.e. Fannie & Freddie) are notoriously tricky for self-employed borrowers. Salespeople gonna salesperson, though.