LoanDepot

Please see attached response for complaint #***.San Diego Revdex.com Complaint #: ***Borrower Name: *** ***Complaint Date: 7/1/2015Borrower’s Complaint Filed with the Revdex.com:Customer’s Statement of the Problem:I was contacted by LoanDepot, after an intranet inquiry, in attempts to refinance my mortgageMr.*** *** contacted me and I explained my scenario and he admitted that he would be able toaccommodate meI advised Mr*** that I was "still shopping around." He stated that he wouldsend documents over to me via emial, so that we may lock the rate, in case I was interestedA weekwent by and Mr*** called me and left several messages, reminding me of the documentsI also didadvise him that I was not in a hurry and his answer was that he did not make any commission on arefinance, just a flat feeI explained that I understood the process and advised *** that if he would liketo "make his fee," he would benefit from allowing me time to researchJust today, I consented to receiveelectronic documents and signed the documents that he has askedLater in the evening, I saw anappraisal fee of $charged to my bank accountI would have appreciated that *** disclosed thatthe appraisal would be ordered, the minute after he received the documentsAgain, I was not ready tomake a decision, especially not with LoanDepot, LLC., as I recently discovered Revdex.com complaintsagainst them, within the last yearsI'm also not sure how they received my credit card number?Borrower’s Desired Resolution:I am skeptical continuing business with this company, as I feel I may have been deceived.However, for the same reason that I chose to accept their initial phone call and continued tocommunicate with ***, I will consider remaining a clientNevertheless, I will be scrupulouslyevaluating all of my documents and reading the fine print, in efforts to confirm that what I wasadvised of verbally, actually remains trueThank you.loanDepot’s Borrower Complaint Summary:Borrower claims that there was communication issues between him and loanDepot staff. Borrower claims that he was not aware the appraisal fee would be deducted from his accountfollowing the signing of the “Appraisal Deposit Fee Agreement.”Borrower states that he is unsure of how loanDepot obtained his credit card information. loanDepot Findings and Response:loanDepot apologizes that Mr*** felt like there were communication issues between him andloanDepotThis will be researched and addressed internallyAfter a review of Mr***’s loan, he was charged $for the purpose of an appraisal fee which iscollected by credit cardOn June 17, at 10:am Mr*** provided his credit cardinformation to loanDepot for said feePrior to collecting this fee, loanDepot evaluates thecustomer’s needs and determines if they have a loan product that will help the customerThecompany conducts an extensive screening process on the phone with the customer to collect dataand find the proper program that will fit the customer’s needsloanDepot then emails the customerinformation about moving forward with the loan. Mr*** executed the Appraisal Fee Agreement on June 16, where he acknowledged:In conclusion, loanDepot sincerely apologizes that Mr***’ experience with loanDepot was anythingless than satisfactory and in regards to the miscommunication between him and loanDepotWeattempted to assist Mr*** with his loan request as much as possible, but ultimately, Mr***decided to cancel the loan applicationBased off of this and according to the terms executed on theAppraisal Fee Agreement, a refund of $was processed on July 1, 2015. Should Ms*** have any additional questions or concerns, he may contact the Customer CareDepartment at *** ext***Representatives are available to assist her Monday throughFriday from 8am to 5pm, PST

Hello,Please see attached response to complaint number ***.Thanks,San Diego Revdex.com Complaint #: ***Borrower Name: *** ***Complaint Date: 7/27/2015Borrower’s Complaint Filed with the Revdex.com:Your company has pulled and is pulling my credit report and have not been
authorized to do soI havenot authorized you to do this, nor talked to anyone from your company about creditYou are in violationof FCRA and subject to criminal investigation unless you can show authorization for pulling the credit.Borrower’s Desired Resolution:You have days to respondand simply going to your website does not constitute me askingfor credit, or you offering credit.loanDepot’s Borrower Complaint Summary:Borrower claims that loanDepot has pulled his credit report without authorization. loanDepot Findings and Response:loanDepot apologizes for any inconvenience this may have caused Mr***loanDepot has sincecontacted Mr*** in an attempt to assist with the removal of the credit inquiries once the creditinquiries from loanDepot have been confirmed.Should Mr*** have any additional questions or concerns, he may contact the Customer CareDepartment at *** ext***Representatives are available to assist him Monday throughFriday from 8am to 5pm, PST

loandepot Hello *** *** and *** ***, Your signed loan documents have been returned to loanDepot, and our Funding Department will be reviewing them to ensure everything was completed correctly and accurately The Funder will also inform me regarding any outstanding items.I will be calling you either way to let you know whether we need anything else from you prior to funding, or once your loan funds.I look forward to speaking with you soon! Sincerely, *** *** *** tel *** fax *** *** Customer service is our top priorityIf you are not receiving exceptional customer service, or if you have any questions, please feel free to contact my supervisor, *** ***, at *** or at *** Confidentiality Notice: This e-mail and any attachment(s) are for the sole use of the intended recipient(s) and may be confidential and/or privilegedAny unauthorized use, disclosure or copying is strictly prohibited, and may be unlawfulIf you have received this communication in error, please immediately notify the sender by return e-mail, and delete the message

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below
The appraisal is inaccurateIf Loan Depot does not want to refund my money, then I would like them to at least send a different appraisal company out so that I may obtain an accurate report on my property considering that an accurate report is what I paid for and very well deserve to receiveFurthermore, I firmly believe that Loan Depot should demand a refund from the appraisal company that was used due to the inaccuracy of the report and their vague, contradictory responses when I submit an appeal
Regards,
*** ***

We are committed to providing our customers with uncompromised service in all our transactionsThe loan process is often a very arduous process, with many conditions that must be fulfilledWe consider our associates to be subject matter experts in their respective field, and they are dedicated to
assisting customers realize their financial needs.We know that communication is important to understanding our customer’s needsWe understand that people communicate on different levels, and there can be misunderstandingsWe use the information that our customer shares to determine the best loan option possibleA customer may feel that they have provided clear and concise information about their dwelling; however, some details may be omitted without intentionWe strive to always do the right thing for our customers.The FHA programs require very strict adherence to guidelines, and regretfully, the dwelling did not conform to those guidelinesWe understand that our customers feel disappointedloanDepot, works in an environment of transparency, and compliance. As a gesture of goodwill, we have processed a refund, in the amount of $435.00, through the same payment method initially usedWe hope this one-time communication breakdown does not deter our customer from allowing us to assist them in the future.If additional assistance is needed, please contact our Customer Care Team at (888) 337-6888, ext

We have received the rebuttal, and have reached out to the customer telephonicallyWe reached out to customer to obtain his specific issues of concern, and to advise him that we are working on the issue to get final resolution. We had sent out written correspondence outlining our resolution to his concerns expressed in the first complaintCustomer says he did not get the correspondence. We reached out to customer by telephone to ask about new concern regarding an email he was sent. Speaking directly to the customer enables us to capture any additional concernsWe have advised customer that the matter has been escalated to management, and customer is to receive a call back on 01/08/to provide resolution

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below
I was verbally told multiple times over the phone that I would receive a refund if the loan did not go through. I've had another appraisal since then, and it was (OF COURSE) higher than the one I received. I find it very convenient that 90% of your complaints ALL state that their appraisal was exactly $20,less than it needed to be to obtain a loan. This is a total and complete scam, and they know it. EXTREMELY unethical practices, especially because I'm a single mother and I really needed that money. They took the money out without telling me when it was going to happen (telling me the loan would be processed at the end of June), causing my checking account to be insufficient, costing me multiple NSF fees. *** & his supervisor also lied to me IN WRITING. They both said the appraiser was NOT an employee of LoanDepot, and that they had to pay him, an "independent contractor" for her services. It's very interesting, though, that the appraisers e-mail address is a LOANDEPOT e-mail. If he doesn't work for LoanDepot, why does he have an e-mail address with them?????They're liars and scam artists, and I'll be sure this gets all over the Internet if I have to in order to save innocent people who REALLY WORK for their money to avoid this con
Regards,
*** ***

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below
I am not satisfied with this resolution because LoanDepot lead me to believe that the loan was being approved Loan officer stated the appraisal fee would be refunded as a lenders credit at closing I had an appraisal done for my home in Octor SeptOf which I discussed with *** *** who stated he may or may not be able to use He never got back with me on that issue That appraisal came in at $135,000, so they knew the value of the home The appraisal they ordered came in at $140, It was never discussed with me that a new appraisal was being ordered, I was contacted by the appraisal to set up an appointment for 8/28/15, which I refused and set for 8/31/in order to speak with someone at LoanDepot I called and left messages for *** ***, loan officer and Loan Processor whose name I cant remember to discuss the appraisal No one from Loan Depot returned any of my calls I was never informed of an appraisal by LoanDepot, but did try and contact them to discuss appraisal I see the sent a copy of the appraisal, which I admit was done and a copy of the appraisal deposit agreement I signed LoanDepot did not provide to you other paper work I.eGood faith estimate and initial fees worksheet, which shows that a credit was to applied for the appraisalLoanDepot also was aware of the value of my property, I offered to provide them with,prior to doing another appraisal I do not feel I should be out of $and want the amount refunded
Regards,
*** ***

This is to inform you that Consumer Complaint #*** has already been resolvedThank you very much
Regards,
*** ***

San Diego Revdex.com Complaint #: ***
Borrower Name:
***
***
Complaint Date: 12/10/
Borrower’s Complaint Filed
with the Revdex.com:
The loanDepot sent me a "Pre-Approval
Notice" for a personal loan, an offer expiring on JAN 16, which is in
fact not a pre-approval of any kindThis is a blatant misrepresentation of the
service and product they offer.
loanDepot’s Borrower Complaint Summary:
1. Borrower is concerned with the preapproval letter
received and is requesting to no longer receive any solicitation from loanDepot
loanDepot Findings and
Response:
1.
loanDepot sincerely apologizes for any
inconvenience this may have caused Mr***A preapproved offer
indicates that loanDepot was able to determine Mr*** met the required
credit criteria to qualify for a personal loanIn order to alleviate any
frustration he may have, loanDepot has added Mr***’ information to our
Do Not Solicit list to ensure he no longer receives any type of solicitation
from loanDepot
Should Mr*** continue to receive
solicitation from loanDepot, he may contact the Customer Care Department at
*** ext***Representatives are available to assist her Monday
through Friday from 8am to 5pm, PST

We are committed to doing the right thing for our customers. We have received a Revdex.com complaint, regarding a request for an appraisal refund. We have conducted a review of all the exchanges with our staff, and the customer. We are grateful to share our findings,
regarding the customers concernWe found that our agent *** *** told the customer that the appraisal would be a lender credit at the closing of her loan, on more than one recorded call. In the calls, the customer provided verbal confirmation that this was understood. We were unable to find any exchanges, where the customers were told that they would be refunded, if the loan did not go throughWe previously reviewed the customer’s request on November 10, 2017, and made an outgoing call to the customer on November 13, 2017. We were unable to successfully reach the customerOn November 21, 2017, and November 28, 2017, we reached out to the customer to review her concerns about the refundWe were unsuccessful in contacting herWe respectfully deny the customer’s request for a refund of the appraisal depositServices were rendered, and customer was provided a copy of her appraisal

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below
Regards,
*** ***

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below.I still do not accept the stance on not refunding my appraisal fee. If it wasn't for the incompetency of your company "I" would not have had to cancel my loan, but I'm not going to allow one of your loan officers to talk to me in such a rude disrespectful manner and then have to deal with another loan officer not doing her job correctly. Your company was irresponsible all the way around and I should not lose my money because of that
Regards,
*** ***

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below
[It is now 7:21PM Eastern time and I have not received a call from Loan Depot as stated in their response. I also did not receive any correspondence in the mail (Sounds like the checks in the mail excuse to me). I advised *** on the telephone she could email me the correspondence and have not received that either. I have attached the most current statement which clearly shows I have a credit balance of $217.51. I want this account marked paid in full and closed immediately. This is still showing on my credit report as an outstanding loan.]
Regards,
*** ***

Please accept this as a formal response to the rebuttal that loanDepot received regarding the complaint originally submitted on January 10, This is the fourth loan that customer attempted to refinance with loanDepotWe first initiated a refinance on January 26, 2016, which was declined on February 4, 2016, as the customer was not committed in proceedingWe attempted to re-originate the on April 4, 2016, however as time progressed the customer became unresponsive, as such the loan was declined on June 15, Then on August 29, 2016, we attempted a third refinance, unfortunately the application was declined on September 23, 216, as the customer did not provide all the necessary loan documents to proceed in order to proceed with the application Loandpeot was able to originate a fourth time on October 11, It was discovered during the underwriting process that the customer had undisclosed businesses returnsOn December 2, we requested for their business tax returnsWe received the incomplete tax returns on December 9, 2016, and the complete tax returns were not received until December 28, Regretfully, the rate lock, unlocked on December 29, New terms were offered to the customer, which they were not willing to acceptAs the customer chose to not proceed with the new terms, the application was cancelled on January 10, We understand that the process of the loan can be difficult and complexOur goal is to ensure a smooth and efficient transactionHowever, loanDepot must comply with investor and government regulationsAlthough we try to anticipate the closing of a loan, factors beyond our control can contribute to unexpected delaysIt is often necessary to request additional documentation to clarify the data we receivedEvery loan file is unique and, as such, processing turn time may differ depending on the loan program type and the current situation of our customer During the mortgage refinance process there are many factors that must be carried out in a timely mannerWe make every effort to keep our customer informed of the processes involvedOften there can be lengthy time frames to collect and validate the required documentsWe apologize that the customer felt there was a breakdown in communicationOur goal is to keep our customers informed of every step of the way in their loan processWe are thankful for their honest feedback, we will visit any opportunities to improve our service going forward We appreciate the opportunity to reevaluate the customer’s complaintRegrettably, our stance regarding this matter remains unchangedAs stated above, there were multiple instances in which the application was declined due to the customer’s commitment to proceedWe regret that we could not assist the customer in their financial goalsPlease consider this as our final review of this matterShould the customer wish to further discuss, they may contact, Customer Care Supervisor, *** ***, at *** or via email at ***
Tell us why here

San Diego Revdex.com Complaint #: ***
Borrower Name: ***
***
Complaint
Date: 11/20/
Borrower’s Complaint Filed
with the Revdex.com:
I filed an application with Loan Depot since the loan
officer I was previously working with was going through loan depot but was
quoting me prices higher than advertised on Loandepot.comI was contacted by a
worker *** *** in which I told him I already had a loan with them and had
an appraisal done already as wellI advised *** the situation which took
place with the current loan officer I was working withI gave him all my
information and told him the old loan officer required my parents be on the
loan as well due to debt to income ratioI gave *** all my information and
he assured me that he can do the loan without my parents being on the loanI
advised *** to make sure since I did not want to go through the whole loan
process again and have to get my parents to co-sign and turn in all their
information again*** did look it over and said he is not sure why my
parents would be on the loan since I make enough moneyI then cancelled my
loan with my previous loan officer and throwing away over $in appraisals
and other feesThen *** gets back to me after talking to underwriting that
we cannot do the loan without my parents cosigningI told *** I was not
happy since he assured me that I didn't need them and I had already cancelled
my loan with the previous loan officerHe should have not advised me that I
qualify without my parents if it was not the caseI asked him to check the
numbers multiple times and he assured me that it would go through
Borrower’s Desired Resolution:
Loandepot.com assured me that the loan would go through
without my parents cosigning and stating that I do make enough incomeThey
should stick to their word and approve of the loan like they said they said
they couldIf they have to lower their rates in order to make the numbers work
then that's what they need to do since they assured me.
loanDepot’s Borrower Complaint Summary:
1. Borrower claims that the loan officer assured him
the loan would be approved without a co-signer, in which, he did not qualify
loanDepot Findings and Response:
1. After a review of Mr***’s loan, the
borrower was initially locked in to a 3.75% Conforming Fixed Year loan on October
27, All pertinent documentation was completed on October 28, to move
forward with the loan applicationThe said documentation included the Uniform
Residential Loan Application reflecting Mr***’s liabilities and monthly
expensesThe loan application was submitted to underwriting for final approval
on November 15, At the time of review, it was discovered that Mr***’s
homeowner association dues were excluded from the Uniform Residential Loan
Application, thus causing the debt to income ratio over allowable limits once
included as a monthly expenseloanDepot attempted to restructure the loan to
provide viable options available that Mr*** would qualify for, but Mr
*** requested to cancel his loan application on November 30,
In conclusion, loanDepot sincerely
apologizes that Mr***’s experience with loanDepot was anything less than
satisfactory and in regards to the miscommunication between him and loanDepotWe
attempted to assist Mr*** with his loan request as much as possible, but
ultimately, Mr*** decided to cancel the loan application
Should Mr*** have any additional
questions or concerns, he may contact the Customer Care Department at
*** ext***Representatives are available to
assist her Monday through Friday from 8am to 5pm, PST

loanDepot Initial Response:We appreciate the opportunity to respond to the concerns noted in the customer’s complaintOur goal at loanDepot is to constantly find ways to surpass the expectations of our customersWe are committed to providing complete transparency in all our transactions. We
understand that the consumer recently received promotional communication from loanDepotWe sometimes receive public information from the county records office or other sources such as affiliates and third partiesThis information is received for direct marketing purposesloanDepot adheres with federal regulations regarding advertisement.We sincerely regret that the consumer felt our promotional letter was sent without your prior knowledge On March 10, 2017, we completed the request to add their contact information to our Do Not Call and Do Not Mail registryWe require our affiliates and subsidiaries to honor the consumer’s request; however, the process of removing your information may take up to days to complete.We sincerely apologize if this matter caused any inconvenience If additional information is needed, contact our Customer Care Team at *** ***, Ext***, Monday to Friday, 8:00AM to 5:00PM Pacific Time

A thorough review of our internal records was completed, and it appears that the referenced credit inquiries are valid. The borrower’s loan application was taken on December 21, in where a VA Year Loan program was discussedOn December 23, 2015, the borrower executed the
“Applicants Authorization to Release Information / Equity Freeze Letter” where he acknowledged the following: “I further authorize my/our Lender to order a consumer credit report and verify other credit information, including past and present mortgage information and landlord references.” Another document that was executed by the borrower was the “Credit Inquiry Explanation Letter” on December 23, where it states the following: “During the loan application process, we continually monitor your credit activity and will request an updated credit profile and/or pull a new credit report prior to closing.” Based off the above explanations, the credit inquiries are considered valid inquiriesloanDepot has established responsible lending and customer service as its core values as well as ensures that its staff abides by its core beliefs while operating within industry guidelinesAny request to have the inquiries removed from Mr***’s credit profile is respectfully declined Should Mr*** have further concerns or questions, he may contact loanDepot Customer Care at *** ext***Representatives are available from Monday through Friday from 8am to 5pm, PST

San Diego Revdex.com Complaint #: *** Borrower Name: *** Complaint
Date: July 28, Borrower’s Complaint Filed with the Revdex.com: They ask for all kinds of paperwork and they wanted it fast....I produced it within a dayI was told I would get my appraisal fee back if it did not go thruI want my back in my account Borrower’s Desired Resolution: I want my back in my account loanDepot Findings and Response loanDepot sincerely apologizes that Mr***’ experience with loanDepot was anything less than satisfactoryPlease know that paperwork that was requested of Mr*** is standard documentation that loanDepot requests for all our customers, and loanDepot would not request the documentation unless it was absolutely necessary for the loanIn regards to the borrower’s claim in that he would get his appraisal fee back if the loan did not go through, loanDepot found no viable evidence that supports thisHowever, as a gesture of good faith to the borrower, a full refund of the $deposit was processed on 8/17/directly to the *** card ending in *** Again, loanDepot apologizes for Mr***’ experienceIf he has any further questions or concerns, he may contact loanDepot’s Customer Care Department at *** ext***Representatives are available to assist Monday through Friday from 8am to 5pm, PSTTell us why here

loanDepot sincerely apologizes that Ms
***’s experience with loanDepot has been anything less than satisfactory
and that she feels that her loan team was rude and disrespectful towards herAs
stated in the initial response, the $refund is not warranted due to the appraisal being
completed and the borrower executing the Appraisal Deposit AgreementloanDepot’s
intention is never to “rob” people as we are in the business to fund and close
loansFurthermore, loanDepot did not profit from this loan application as we
incurred expenses and losses on the borrower’s behalf that exceeded the $
amountWe ordered an appraisal report, ran credit reports, title reports, and
were subject to additional costs on other services rendered
Should Ms*** have additional questions or concerns,
she may contact loanDepot’s Customer Care Department at *** ext***
Representatives are available to assist Monday through Friday, from 8am to 5pm,
PST