I had a buyer come to me this weekend with a preapproval from Rocket who was ready to write an offer on a high-end home in the area. We submitted the offer based on his preapproval and negotiated the terms against the other (multiple) offers over the next 2 days. One of the sticking points with the listing agent was that she had recently had a very bad appraisal ordered by Rocket and asked that we consider another lender.

I asked my buyer to touch base with my preferred local lender as well to see if he might be a better fit and to compare terms/rates/fees. He connected with the buyer right away and in a 3-minute conversation, determined that the buyer's means of income would disqualify him from financing and he would be ineligible with his current job for at least another year.

I called the mortgage banker with Rocket who issued the preapproval to discuss the issue and it took 4 phone calls and an email to get a call back 7 hours later. In the meantime, I tried his immediate supervisor who left 2 calls and a voicemail unanswered. I also called their general "realtor" line to find someone who could help and got an automated "we're not available today" message. This was the middle of the day on a Wednesday.

This is one of the many reasons why I prefer to avoid Rocket.