LoanDepot

San Diego Revdex.com Complaint #: [redacted]      Borrower Name: [redacted]                               Complaint Date: 1/26/2017           Borrower’s Rebuttal Filed with the Revdex.com: Due to the blatant disrespect for the customer [ me [redacted] love ] , and  loan depot knowing it was an old house at the start of the loan process, and the unreasonable amount of time that loan depot took to turn down the loan, and the fact I had to file a complaint with the Revdex.com to get them to do anything! I want the other $105.00   loanDepot Findings and Response   Please accept this as a formal response to the rebuttal that loanDepot received regarding the complaint originally submitted on January 2, 2017.   The property inspection completed by the licensed appraiser deemed the property condition unsuitable. Based on the condition of the property, the appraiser was unable to proceed with the appraisal report. As such, the loan was declined, as the customer no longer qualified for the loan program. loanDepot was charged a trip fee of $105.   The customer executed the Appraisal Deposit Agreement where they acknowledged the following:   REFUNDABILITY: The Appraisal Deposit is refundable in certain circumstances    If no Appraisal Services have been completed on your property and you subsequently withdraw your application or your application is declined, your Appraisal Deposit will be refunded in full.     If Appraisal Services have been completed on your property and you subsequently withdraw your application or your application is declined you will be refunded the difference between the Appraisal Deposit and the amount of the value of the Appraisal Services performed. If your application is declined, even if the appraised value is not what you expected, you will only be refunded the difference between the Appraisal Deposit and the amount of the value of the Appraisal Services performed.   Based on these parameters, the customer was refunded the difference of their deposit and the invoice received from the appraisal management company.   Though the remaining balance is non-refundable, the remaining $105 will be credited back to the customer as a gesture of good faith.   We appreciate the opportunity to reevaluate the customer’s complaint. Should the customer wish to further discuss, they may contact, Customer Care Supervisor, [redacted], at [redacted] or via email at [redacted]@loandepot.com

Hello,Please see the attached response to complaint number [redacted].Thanks,San Diego Revdex.com Complaint #: [redacted]Borrower Name:    [redacted]   Complaint Date:    8/17/2015Borrower’s Complaint Filed with the Revdex.com:I would like to point out to Mr [redacted] the attorney representing Loan Depot that his generic answer to mycomplaint covers a scenario where a property is refused a loan on the basis the real property did not appraise whichis not the case in my complaint. My complaint is different because of the fact that after Loan Depot approved myloan they demanded I cancel four of my five credit cards and that I increase my hazard insurance policy coverage asthe only conditions for them to draw up loan closing documents. After demanding these credit card cancellationsthat negatively affected my FICO credit score as well as costing me additional money Loan Depot actively followedup demanding written proof from the credit card companies that I had cancelled these credit cards. This was alldone after my loan was approved by Loan Depot's real estate broker/mortgage loan underwriter. After completionof all that was asked of me and with assurances I had a loan that would be funded within a short time I proceededwith improvement plans including ordering kitchen appliances and scheduling carpet and vinyl flooring installationdates. I wish to express that shortly after these demands which included cancelling credit cards that could not bereopened were met Loan Depot began a protracted five weeks plus stone walling of my repeated requests forinformation on a closing date all the while not giving me any reason for their delay. After this unexplained holduptheir loan processor told me they were not going to make the loan that had been previously approved. The loanprocessor in fact stated she was amazed because all she was waiting for were the loan documents package so thatwe could close. This is why I am making a complaint, the loan was approved by Loan Depot's licensed real estatebroker/underwriter then after I cancelled the four credit cards the underwriter demanded I cancel in order to fundmy then approved loan Loan Depot damaged me by canceling my real estate loan approval. This cancellationcaused me to be damaged on several levels including my FICO score being negatively affected because the lenderrequired me to cancel credit cards as the only condition of final loan approval. In addition Loan Depot required meto rewrite at additional cost my hazard insurance policy with additional conditions and coverage.  The resolution to my complaint is simple, I am requesting Loan Depot fund the approved loan which they have afiduciary obligation to close after their real estate broker/ loan underwriter approved it.Borrower’s Desired Resolution:The resolution to my complaint is simple, I am requesting Loan Depot fund the approved loan which theyhave a fiduciary obligation to close after their real estate broker/ loan underwriter approved it.loanDepot’s Borrower Complaint Summary:1. Borrower concerned with the length of time in process.2. Borrower claims that the decline of his loan negatively impacted his credit score and loanDepotrequested to close all of his credit accounts.  3. Borrower is requesting to fund the declined loan application.  loanDepot Findings and Response:1. loanDepot apologizes for any inconveniences caused to Mr. [redacted] in relation to his loanapplication. loanDepot regrets that we were unable to assist Mr. [redacted] with his financial needs.2. The delay in the process of the loan was caused by challenges to find an appraiser to complete thevaluation for his property. Mr. [redacted]'s property was unique in character and design and alsolocated in a rural area of Montana that made it difficult to find similar sales comparables withsimilar features to provide a conclusion of value. loanDepot sincerely apologizes for the extendedturn times, but this was a very difficult assignment for any appraiser due to the uniqueness of theproperty and its location.  On March 10, 2015, an appraisal request was ordered from an Appraisal Management Company(AMC) that selects the appraiser without bias or influence. After receiving additional informationfrom Mr. [redacted], the appraiser who initially accepted the assignment cancelled because there was alack of available market data to compare to the subject property's atypical design. Because of thisissue, loanDepot reached out to three other AMCs that, unfortunately, could not locate appraisersto complete the assignment.  Upon further attempt, loanDepot was able to locate an AMC that found an appraiser willing toaccept the assignment. Due to the complexity and uniqueness of the property, the appraiser advisedloanDepot that she would require more time than expected to appropriately assess the property andprovide a written report. This appraiser also consulted with real estate professionals in the subjectproperty's market area for any possible sales and listings similar to the subject. Once the report wasreceived, it was submitted for an independent review for accuracy and completeness. This externalreviewer, who is also located in the subject's immediate area, noted the same concerns and wasunable to provide a value based on the appraisal provided. After careful review of thecircumstances, loanDepot unfortunately had to decline Mr. [redacted]'s loan because the appraiser wasunable to find adequate information to develop a reliable opinion of market value. Per Fannie Maeguidelines, if an appraiser is not able to find any evidence of market acceptance, and thecharacteristics of the property are so significantly different that he or she cannot establish a reliableopinion of market value, the property is not acceptable as collateral. Please see Fannie Mae SellingGuide Section B4-1.3-5 for more information.  Furthermore, loanDepot wishes to point out that it does not set fees for appraisals and that it doesnot have visibility to the agreed upon rate between the appraiser and the AMC. The AMC will try tobroadcast an order to appraisers on their panel and compensate the appraisers accordingly.loanDepot wishes to also point out that registry and membership for real estate professionals to theBitterroot Valley MLS Board is strictly voluntary. At this time, without the suitable comparables,loanDepot cannot proceed further. If Mr. [redacted] is able to provide similar comparables, he isencouraged to complete a value appeal for reconsideration.3. Mr. [redacted]’s loan application was “conditionally approved” requiring additional financialinformation requested by the account manager on May 19, 2015. Once received the underwriterreviews the outstanding conditions for potential final approval. A final approval is required from theunderwriter in order to close and fund the loan product chosen by Mr. [redacted]. The loan wasultimately declined on July 8, 2015 due to the property being considered too unique and nocomparables for this property type were found in the surrounding area. Following the decline of hisloan, Mr. [redacted] expressed his concern regarding the request to close his credit accounts on July 9,2015. As a result, loanDepot submitted the attached formal letters to all credit companies, on July15, 2015, requesting reinstatement of his accounts.   In conclusion, loanDepot sincerely apologizes that Mr. [redacted]’s experience with loanDepot was anythingless than satisfactory. We attempted to assist Mr. [redacted] with his loan request, but ultimately without acompleted appraisal, loanDepot is unable to continue with any loan product.  Should Mr. [redacted] have any additional questions or concerns, he may contact the Customer CareDepartment at [redacted] ext. [redacted]. Representatives are available to assist her Monday throughFriday from 8am to 5pm, PST.

San Diego Revdex.com Complaint #: [redacted]Borrower Name: [redacted]Complaint Date: December 09, 2016Borrower’s Complaint Filed with the Revdex.com:these are email from the company: Mr. [redacted], I apologize but we as loanDepot do not disburse thefunds, Title does. Let me contact title and ask them for status....

I haven’t received any emails from themadvising there are any issues. I will let you know once I have an update. Thank you! From: [redacted][mailto:[redacted].[redacted]@fedex.com] Sent: Friday, December 09, 2016 7:41 AM To: [redacted] Cc: M4 Notes Subject: RE: Your loanDepot Loan Documents-[redacted] WHERE IS THEFUNDS!!!!!!!!! I have been getting calls and I have called and the loans that you said were to be paid offNOT to mention the fund WIRED to MY account are nowhere to be found!!!!! NOW I’m SHOW LATEPAYMENTS!!!!!! And as far as you snide commit : You will be fine.. the money will be there. Sent you[redacted] on Tuesday…..well we now know that is a LIE!!!!!! From: [redacted][mailto:E[redacted]@loandepot.com] Sent: Tuesday, December 06, 2016 4:53 PM To: [redacted] Cc: M4 Notes Subject: RE: Your loanDepot Loan Documents-[redacted] Mr. [redacted], Fundinghas been requested and the wire for the mortgage should be sent tomorrow. Unfortunately, theunderwriter needed to clear a condition and funding was requested after cut off. Title should send thewire for your funds tomorrow also. Processing can take 24-48 hours. Thank you! THIS WAS 3 DAYSAGO!!!!!!! From: [redacted] [mailto:E[redacted]@loandepot.com] Sent: Tuesday, December 06, 2016 4:53PM To: [redacted] Cc: M4 Notes Subject: RE: Your loanDepot Loan Documents-[redacted] Mr. [redacted], Funding has been requested and the wire for the mortgage should be senttomorrow. Unfortunately, the underwriter needed to clear a condition and funding was requested aftercut off. Title should send the wire for your funds tomorrow also. Processing can take 24-48 hours. Thankyou NO MONEY 5 days later!!Borrower’s Desired Resolution:they are responsible for my late payments and they did not wire my funds as promised within 24-28hours....it's been over a week!!!!!!loanDepot Findings and ResponseWe understand that the satisfaction of our customer is essential to maintaining a successful business.Our core values compel us to do the right thing for our customers. loanDepot is a company that takespride in the integrity of our processes. After a review of our systems, the customer’s loan funded onDecember 07, 2016, as such the fund were wired on December 09, 2016.loanDepot is not responsible for any late fees. It’s is the responsibility of the customer to continuemaking their monthly payments until the account has been paid in full. Also our Sr. Account Manager[redacted] communicated to the customer, that all creditors would receive live check thought UnitedState Postal Services and to continue making the monthly payments.In conclusion, loanDepot sincerely apologizes that Mr. [redacted]’s experience with loanDepot wasanything less than satisfactory.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint. I do not accept Loan Depot response.  As stated previously, loan depot is responsible for their underwriter errors in determining what their guidelines are for approving a loan.  As stated before I was told over.and over that everything look good and the loan would be approved.  Now as far as the value of my home which was purchased in November 2014, and an appraisal was done.  This was discussed with the loan officer and value of that appraisal was disclosed to loan officer.  I also offered a copy of that appraisal, which loan officer stated he was not sure if it could be used, but would get back with that info.  He never called back.  Loan depot is using the agreement I signed to justify them taking $395.00 from me.  That agreement was signed only because I was lead to believe the loan was going to be approved and the appraisal fee would be credited at closing.  If the loan was declined due to value coming I. Too low, this could have been determined based on value provided from appraisal done in 2014.  I feel this is a practice that loandepot does to take money from their cusomers, and this statement is based on the 200+ complaints filed against loandepot with the Revdex.com for leading their customers to believe their loans are going to be approved and then declining loans after an appraisal has been done.  This practice should be stopped.  No customer should lose money if a loan is not approved, and loandepot is getting away with it by having their customers sign an appraisal agreement.  I live on a fixed income and to have $395.00 taken from me put me in a financial bind.  I was refinancing my home to lower my monthly payment not to give away $395.00.  In order for this matter to be resolved to my satisfaction, I need loandepot to refund my $395.00. 
Regards,
[redacted]

As stated in the initial response, Mr. [redacted] was pre-approved based on the information Mr. [redacted] provided at the time of application. The borrower alleges that the Licensed Loan Officer stated that they "missed the alimony," but there is no viable evidence that supports this allegation. However, please know that a Final Approval is not guaranteed until the file has been reviewed by Underwriting, and this loan was never Final Approved. Upon a thorough review of the Divorce Decree and supporting documents to verify income when the loan was in process/underwriting after the appraisal was completed, it was determined that Mr. [redacted] did not have enough residual income in order to proceed with the refinance.
Based off of this and the explanation in the initial response, loanDepot’s stance remains the same in not refunding Mr. [redacted]’s appraisal deposit.

It is with great concern and regret that we received the customer’s feedback outlining their experience with our Loss Mitigation Department. We have taken the necessary steps to conduct a review of their interaction with our associates, and we will address any training opportunity internally to...

enhance the quality of our customer service.On behalf of our Office of the CEO, we apologize for any inconvenience the customer may have encountered. We are very sorry to hear that our customer has been affected by the recent hurricane. We understand that this can add to our customer’s worries, and we want to alleviate any stress for our customer. We take the satisfaction of our customers very seriously, we are grateful that they have brought their frustrations with their particular experience to our attention.  loanDepot is held accountable by the laws by protecting homeowners, and we offer complete transparency at all times. Our goal is to work with our customers in reviewing potential payment assistance options; within the parameters of the investor guidelines. Every transaction strictly adheres to the laws set forth by the government regarding mortgages. Customer care is our priority at all times. We are committed to providing the customer with exceptional service they deserve. Regretfully, our attempts to contact the customer by phone have been unsuccessful. We request that our customer contact us at their earliest convenience to discuss this matter further.

They are still refusing to refund my money. I was told that if my loan was turned down that the $425 I paid for my home appraisal would be refunded to me. It was turned down now I want my money refunded to me as promised. They claimed it was not originally tuned down it was declined do to me being late once in the last 2 years on my mortgage. That is not true I sent them my payment history no where on there does it show I am late it shows me making my payment on the 1st and them applying it later in the month. That is out of my control when they apply it. They are telling me that it has not been declined  but they can not write the loan. Do to the fact I had been  late in the last 2 years that makes it declined. Therefore I am entitled to my refund as promised. As I stated in the past I have my son who heard the phone call that they would refund my money. If they want to write the loan at the agreed 3% interest that would be ok [redacted]
[redacted]

We appreciate the time the customer took to provide their feedback regarding their experience with us. We take pride on being a lender who works in an environment of complete transparency and integrity. Customer satisfaction is priority. We strive to deliver service that exceeds our customer's...

expectation.loanDepot is committed to assisting customers realize their financial goals. We exhaust all options in an attempt to get the loan approved for our customer. However, it was determined that there were eligibility factors that did not enable us to move forward with the loan. Regretfully, there was nothing that we could influence to change this result and as such, the loan was declined on September 7, 2017.On September 11, 2017, a refund of $425.00 was issued for the appraisal deposit. The refund was processed electronically to the payment method used initially, and we received confirmation ID: [redacted] to confirm the transaction was successful. Although the refund was processed electronically, we have no control over the processing turn time for the customer’s financial institution.We consider our associates to be experts in their respective fields. We sincerely regret that there may have been a miscommunication regarding processing schedule for transactions. In our ongoing effort to continue superior customer service, we have issued a reimbursement for the insufficient funds fee. A check in the amount of $36.00 was sent by [redacted] overnight mail on September 14, 2017.loanDepot is apologetic for any inconvenience the customer may have encountered. We trust the concerns have been effectively addressed. If additional information is needed, please contact our Customer Care Department at (888) 337-6888.

Our customer emailed our office on November 6, 2017, a request to postpone the ACH payment scheduled on November 9, 2017. We responded to our customer on November 7, 2017, indicating the draft would occur as scheduled. Due to a breakdown in communication, our customer’s request was not addressed in...

a timely manner, and the ACH payment was not postponed. Regretfully, our Cash Management department researched it as a missing payment and no prior action was taken to disburse a refund to our customer. A check for $180.00, for the reimbursement of overdraft fees, will be sent to our customer on January 8, 2018.  We apologize for any inconvenience this may have caused.

San Diego Revdex.com Complaint #:       [redacted]
 
Borrower Name:                              [redacted]
 
Complaint Date:                               5/7/2015
 
Borrower’s Complaint Filed
with the Revdex.com:
 
It was never communicated to myself or my wife that we were
buying down to 4%. In fact when my wife talked to [redacted] supervisor,
she listened to the recording of the conversations and found where we were
approved for 4%. At no time during the closing did [redacted] state that
we had bought down points to reach 4%. When [redacted] went over the accounts to be
paid off and it was discovered that the [redacted] credit card was not included,
[redacted] assured us that it was still going to be paid off because it
was included in the Settlement Statement Payoff which he emailed us as proof.
He also told [redacted] where to find it in the paperwork so she could show us
that it was an account that was being paid off. So basically we were told it
was an error on their part, we were shown where the account was still to be
paid off and once they got our signatures they claimed there was some huge
mix-up in the paperwork and were trying to figure out what went wrong. A week
later they chose not to honor their agreement on the [redacted] card and came up
with the buying down points scenario. And credit pulls don't need to be done in
3 consecutive weeks to ensure credit worthiness.
Borrower’s Desired Resolution:
 
Rebuttal to previous response
 
loanDepot’s Borrower Complaint Summary:
 
1.       Borrower claims that it was never communicated to
either party that they were buying down points to obtain 4% interest rate.
 
loanDepot Findings and
Response:
1.       After a review of Mr. [redacted]’s loan, the borrower
was initially offered a 4.000% VA Fixed 30 Year Standard loan on October 8, 2014.
This was the initial credit pull and tri-merge,
but loanDepot
cancelled the loan on October 10, 2014 due to
party not committed.
 
2.       Mr. [redacted] again contacted loanDepot on October
15, 2015 to again discuss refi options. An application was submitted and was
locked in to a VA Fixed 30 Year Standard loan on October 15, 2014. In
order to verify credit worthiness, loanDepot again pulled a credit report for
Mr. [redacted]. loanDepot was unable to qualify Mr. [redacted] due to Debt to Income
issues. In order to attempt to qualify Mr.[redacted] for the loan, additional
income was needed, in which loanDepot added Ms. [redacted] to the loan and
initiated a joint credit pull. At that time, the joint credit scores were still
insufficient to qualify for the loan presented. The loan was then placed on
hold in “Restructure” to allow Ms. [redacted] to improve her credit rating.
 
 
3.       Ms. [redacted] contacted loanDepot on
December 5, 2014 to advise that they have worked on their credit and authorized
another credit pull to see if they were eligible to reinstate the loan with the
improved credit. loanDepot initiated a single credit pull for Mr. [redacted] to
verify credit worthiness, and the loan was taken out of restructure and put
back in process. After reviewing the single credit pull, it was verified that
both Mr. & Ms. [redacted] will have to be included in the loan. Ms. [redacted]
contacted loanDepot on December 13, 2014 and December 22, 2014 to authorize a
joint credit pull to verify if their scores improved enough to qualify for the
loan.  At that time, their combined
scores were still too low to qualify for the VA Fixed 30 Year loan.
 
4.       Ms. [redacted] contacted loanDepot on
December 29, 2014 to advise that Mr. [redacted] was concerned regarding the
multiple inquiries to his credit. In doing so, Ms. [redacted] requested that
loanDepot only make inquiries to her credit to verify if improved enough to
qualify for the agreed loan program. loanDepot made another inquiry for Ms.
[redacted] only on January 6, 2015 which was still too low to qualify for the said
loan program. Ms. [redacted] contacted loanDepot on January 15, 2015 stating that
her score had improved and another inquiry was submitted, but the credit score
was still too low to qualify and the loan was declined on January 21, 2015 due
to “Delinquint Past or Present Credit Obligations with Others”.
 
5.       loanDepot received communication
from Ms. [redacted] on February 10, 2015 that her scores had improved and it was
verified through another credit pull. At that time, the credit was within range
to qualify for the specified loan program. A loan program was identified and
Mr. [redacted] was locked in to a VA Fixed 30 Year Standard loan on February 10,
2015. A final tri-merge credit report was ran to verify credit worthiness. The
initial disclosures and a good faith estimate were provided to Mr. & Ms.
[redacted] on February 10, 2015 encompassing the charge of $1420.37 for the interest
rate agreed upon of 4 percent which was also reflected on the final settlement
statement at closing.  The loan funded on
March 10, 2015.
 
6.       A thorough review of the file was
conducted; all requested accounts to be paid at closing were provided to Mr.
[redacted] at the closing of the loan. Throughout the process of the loan, all of
the accounts included to be paid off at closing were provided and included in
the Payoff Schedule and Settlement Statement. loanDepot communicated to the
borrower on March 13, 2015 that the loan amount was not significant enough to
include the payoff for the requested credit card. It was communicated that the
cash out, escrow refund, and the missing of a mortgage payment was to allow Mr.
[redacted] to pay off the said creditor.
 
The reason in why loanDepot pulls multiple credit
reports throughout the loan process is to ensure the borrower is still current
with their monthly financial obligations and that they are still credit worthy
for loanDepot to lend upon. Based on a file review, all credit pulls were
authorized by Ms. [redacted] due information provided that her credit had improved
and would possibly qualify for the loan product discussed.
 
Should Mr. [redacted] have any additional questions or concerns, he may
contact the Customer Care Department at [redacted] ext. [redacted]. Representatives
are available to assist her Monday through Friday from 8am to 5pm, PST.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint.  As you can see in the emails below [redacted] has been contacting a FOURTH party who is NOT AN AUTHORIZED PERSON FOR THIS LOAN. "[redacted]" is the sister of [redacted] in whom we had to explain to her what was going on because she is in charge of paying the bills online for [redacted] and [redacted] (parents of [redacted] and [redacted]). [redacted] asked for proof that we were working on the problem , so we forward to her emails from Loan Depot. She then took it upon herself to reply back to [redacted] and got involved and tried to take over the decision making for the loan. We called [redacted] to inform her that if she wanted to get [redacted] involved to formally inform us about it by email or phone call. She apologized for talking to [redacted] as she was confused and thought she was talking to [redacted] over the phone but it still doesn't explain all the emails going back and forth to each other .  We are pretty sure and positive that [redacted] was aware that she was contacting [redacted] and not [redacted] or [redacted]. We are just appalled in how Loan Depot does not pay attention to details and most of all does not pay attention to the authorized names on the account. They literally will just speak to anyone who has the loan number and that alone makes us feel very compromised with our money and personal information. your reference, details of the offer I reviewed appear below.-------- Original message --------From: [redacted] <[redacted]>Date: 11/23/2015 12:01 PM (GMT-08:00)To: '[redacted]' <[redacted]>, "'[redacted]'" <[redacted]>Subject: RE: loanDepot Insurance update #[redacted]Good afternoon,Per my conversation with [redacted] last week you asked me to email you and [redacted] with the options.I would prefer not to get in the middle of this as only [redacted] is my authorized 3rd party.   I just need someone to make the decision and get back to me to proceed.  Please let me know what you decide and of course I would need the customer to sign the letter and date it if that is the ultimate decision.   Thank You[redacted]Sent from my [redacted] Tablet.-------- Original message --------From: "[redacted]" <[redacted]>Date: 11/23/2015 12:15 PM (GMT-08:00)To: [redacted] <[redacted]>Cc: [redacted] <[redacted]>Subject: Re: loanDepot Insurance update #[redacted]I am just replying to avoid my parents having to pay double since this was not clear in the beginning of the loan. Since I handle their finances, I make the decision base on their behalf. No one would agree to paying more than what is agreed! Unless you are willing to pay the extra cost until this is resolved! My parents should not! So we need to cancel the extra money taking out of escrow ASAP! [redacted]On Nov 23, 2015, at 11:59 AM, [redacted] <[redacted]> wrote:Hello to all,This is [redacted]. Sorry but I am a bit confused now. We were NOT informed by email or phone call that [redacted] IS NOW IN CHARGE OF THE LOAN. As per your email communication back and forth it seems like she is in charge now, and [redacted] and I request to be removed officially from this loan as the "Liasons", there for please respond back by replying to this email thread, I need both parties ([redacted] and [redacted]) for documentation purposes to confirm the new changes of the LIASONS.#1. [redacted], PLEASE RESPOND BY ACKNOWLEDGING AND STATING THAT YOU ACCEPT THE RESPONSIBLITIES AS THE NEW OFFICIAL LIASON PERSON FOR THIS LOAN AND THAT FOR ANY MATTERS PERTAINING TO THIS LOAN, YOU ARE THE ONLY PERSON TO TALK TO IN CONJUNCTION WITH [redacted] AND [redacted].#2. [redacted], PLEASE RESPOND BY ACKOWLEDING AND ACCEPTING THE NEW CHANGE IN LIASON, THAT YOU WILL NOW CONTACT [redacted] FOR ANY QUESTIONS REGARDING THIS LOAN IN CONJUNCTION WITH [redacted] AND [redacted].#3. [redacted], PLEASE OMIT RON AND [redacted]'S NAMES  AS LIASONS FOR THIS LOAN. BY REMOVING US, WE WILL NOT BE HELD FOR ANY LIABILITIES PERTAINING THIS LOAN ON ANY DECISIONS MADE FROM THIS DAY FORWARD. WE UNDERSTAND AND ACCEPT THAT CONTACT WILL BE CEASED FROM THIS DAY GOING FORWARD.Thank you [redacted] for taking over the responsibilites for this loan. I hope you are PROUD of what you're little brother [redacted] acomplished for your mom and dad regarding this loan and the roof getting fixed. We feel that the less cooks in the kitchen, the better the food will taste and we have complete TRUST in you handling the loan from this day on forward and for those reasons alone, is why we opt to be REMOVED as the liasons for the loan. Thank you [redacted] for taking the time in working with our family and trying to help us out. We appreciate very much all of your time and we prayed to God to bless you and your whole family for the time spent with us surely will be rewarded. Sincerely, [redacted] and [redacted]Sent from my [redacted] Tablet.-------- Original message --------From: [redacted] <[redacted]>Date: 11/23/2015 10:41 AM (GMT-08:00)To: "'[redacted]'" <[redacted]>, Ron [redacted] <[redacted]>Cc: [redacted] <[redacted]>Subject: RE: loanDepot Insurance update #[redacted]Good Morning,I just wanted to follow up with the email chain below.   Can you please confirm which option we are going to proceed with?A.)   You continue paying the insurance thru the loan as part of the monthly payment and you continue paying the balance off for last year’s premium with your insurance agent.  Once the balance is paid with them, the money that you’ve been paying as part of your mortgage payment will go toward paying the annual premium due to the insurance agent at the beginning of the policy period.  B.)    You remove the insurance from the loan escrow account and continue paying it yourself during the entirety of your loan term.  If this is the option you choose, then please provide me a signed/dated letter confirming your intent to remove the insurance from the escrow account.  Your mortgage payment will be reduced by the monthly figure and new information will be sent to you to confirm this change in payment.     Please let me know what you decide at your earliest convenience.Thank You,[redacted]From: [redacted] Sent: Wednesday, November 18, 2015 5:01 PMTo: '[redacted]'Subject: RE: loanDepot Insurance update #[redacted]Good Evening,Our servicing team is asking that I obtain a letter from you indicating your intent to cancel the escrow impound for your insurance.  Once I receive the signed and dated letter, I will be able to get that process started. Please email or fax it to me at your earliest convenience. Thank You,[redacted]From: [redacted] Sent: Wednesday, November 18, 2015 3:57 PMTo: '[redacted]'Subject: RE: loanDepot Insurance update #[redacted]Thank You, I’ve requested this and will get back to you soon.Thank You[redacted]From: [redacted] [mailto:[redacted]] Sent: Wednesday, November 18, 2015 9:54 AMTo: [redacted]Subject: Re: loanDepot Insurance update #[redacted]Yes, Property tax to be impounded.Thank you[redacted]On Nov 18, 2015, at 8:31 AM, [redacted] <[redacted]> wrote:Hi [redacted],I will speak with our loan servicing department to determine if they will remove the insurance from the impound account so you can continue paying it on your own. To confirm, you still wish for the taxes to be impounded?Thank You[redacted]  From: [redacted] [mailto:[redacted]] Sent: Wednesday, November 18, 2015 6:02 AMTo: Ron [redacted]Cc: [redacted]Subject: Re: loanDepot Insurance update #[redacted] I'm not doing it that way. We have the option to remove the Home Insurance and I rather do that. This way Mom & Dad don't pay double payments regardless how many payments. I would never have included it. Not sure if they even gave you the option in the beginning. The other loan company did when I refied last time. So we need to write a letter to cancel that part. If you can ask [redacted], please do![redacted]On Nov 17, 2015, at 10:41 AM, [redacted] <[redacted]> wrote:Hello [redacted],Thank you for trying. We had to at least TRY and we appreciate your willingness to do so.We have to TRY to explain this mishap to the family now, but before we do, we want to make sure that we understand how the payments for the [redacted] is going to be paid going forward.  According to [redacted]'s email to us, we understand payments are to be as outlined below.  Please CLARIFY in detail, that this is correct or incorrect ? #1 WE ARE RESPONSIBLE for paying the home insurance to [redacted] $92 MONTHLY.STARTING FROM: November 19th, December 19th, 2015, January 19th, 2016,February 19th, March 19th, April 19th, May 19th, June 19th and ENDING LAST PAYMENT ON July 19th, 2016. #2 LOAN DEPOT IS RESPONSIBLE for paying the home insurance to [redacted] $92 MONTHLY.STARTING FROM: August 19th, 2016 UNTIL THE NEXT 30 YEARS OF THE LOAN HAS ENDED. I have copied and pasted below an email from [redacted]. Please review it and let me know if we understand the instructions correctly. On Oct 23, 2015, at 2:40 PM, [redacted] <[redacted]> wrote:Hi [redacted],I also spoke to [redacted], of [redacted], he works with [redacted].  He advised that your policy is set up as monthly payments through July 2016.  At which point we will pay the full amount due of $943.00 to continue the policy for another year.  I have confirmed that the next monthly payment is due Nov 19th for $92.00 and will continue on a monthly payment plan until July 2016.  I apologize for not paying the balance through closing.  Again, please feel free to contact me to discuss.Thank you,[redacted]  Sent from my [redacted]On Nov 16, 2015, at 8:41 PM, [redacted] <[redacted]> wrote:Good Day Mr. and Mrs. [redacted], As previously discussed, we escalated your request from our customer care team to my VP for review.   After further research and review they are also unable to approve any additional concessions to you for the loan.   I truly am sorry for the inconvenience and I have escalated this matter as far as I could but ultimately they’re unable to accommodate any other requests.  Please let me know if you have any questions for me.Thank You, [redacted]  From: [redacted] Sent: Monday, November 09, 2015 1:40 PMTo: '[redacted]'Subject: RE: loanDepot Insurance update #[redacted] Hi Mr. and Mrs. [redacted], They researched the matter and were unable to allow any additional concessions.  The insurance would have been due if we closed the loan or not and although it was missed on the statement, it was still your responsibility to be paid.  I’m sorry but I am still working on this with my manager and I will follow up for the final decision.   I will get back to you, thank you for your patience. [redacted] From: [redacted] [mailto:[redacted]] Sent: Monday, November 09, 2015 1:28 PMTo: [redacted]Subject: Re: loanDepot Insurance update #[redacted] Hi [redacted],Just following up. Have you heard anything yet from your manager? Also, I'm curious to what was the reason WHY the Customer Care Team decided NOT TO ISSUE US A CREDIT? I would like to hear an explanation from them how we were at fault? To help better understand the situation from their perspective.  Thanks again for all your help and God bless you for it :-) Sincerely,[redacted] and [redacted]Sent from my [redacted]On Nov 4, 2015, at 6:58 PM, [redacted] <[redacted]> wrote:Good Evening Mr. and Mrs. [redacted], I apologize for the delayed response; I’ve been away from my desk for most of the day. I did have a chance to follow up with our customer care team and after they reviewed they were unable to allow any credit on the loan for you.  I did escalate this as a last resort to my manager as well to see if she’s able to escalate to anyone else in the organization for assistance.  I will let you know how that goes. Thank you for your patience![redacted] From: [redacted] [mailto:[redacted]] Sent: Wednesday, November 04, 2015 10:28 AMTo: [redacted]Subject: Re: loanDepot Insurance update #[redacted] Good morning [redacted],Just following up again. I haven't heard anything yet from your Customer Care Team and we are getting closer to the Due date payment for [redacted] next week. Is there anything more that I can do to help out? God bless you for helping us. Sincerely,[redacted] and [redacted]Sent from my [redacted]On Oct 28, 2015, at 3:35 PM, [redacted] <[redacted]> wrote:Hi Mrs. [redacted],Thank you for following up, I’ve sent a request to my customer care team for a status update.  I will get back with you soon.  Thanks,[redacted] From: [redacted] [mailto:[redacted]] Sent: Wednesday, October 28, 2015 10:52 AMTo: [redacted]Subject: Re: loanDepot Insurance update #[redacted] Hello [redacted],Just wanted to follow up with you. Ask you, how's everything going? I pray that everything will work out to benefit both parties and the outcome will be joyful and peaceful.  Thank you for all your help.  Looking forward to hearing from you again. God bless,[redacted]  Sent from my [redacted]On Oct 23, 2015, at 4:35 PM, [redacted] <[redacted]> wrote:Hi Mr. and Mrs. [redacted], As per our conversation, my contact information is below.  I’m reaching out to our customer care team to see if there is anything else we can do to assist and I’ll keep you posted. Thank You[redacted] tel/fax[redacted] ext. [redacted]<image001.jpg> Please consider the environment before printing this email.Customer service is our top priority: If you are not receiving exceptional customer service, or if you have any questions, please feel free to contact CEO Customer Care at[redacted].
Please let me know what you decide at your earliest convenience.Thank You,[redacted]END OF EMAIL THREAD.
Regards,
[redacted] & [redacted]

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution would be satisfactory to me.  I will wait for the business to perform this action and, if it does, will consider this complaint resolved.To whom it may concern,Wanted to let you know that Loan Depot replied to our complaint very satisfactorily by returning our $200. Thank you so much[redacted].[redacted]Love is never convenient and rarely ever painless 
Regards,
[redacted]

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
They are so incompetent that they did not responded to my last email that we sent them. They just sent the same response as before.  This company are a bunch of liars and thieves.  They should be brought up on charges for what they are doing to innocent people.  They robbing them blind and taking their last monies that they have.  I am going to write to the Attorney General of the state they are located and tell them what loan depot is doing. 
Regards,
[redacted]

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

San Diego Revdex.com Complaint #:       [redacted]
 
Borrower Name:                              [redacted]...

[redacted]
 
Complaint Date:                               5/12/2015
 
Borrower’s Complaint Filed
with the Revdex.com:
 
In a nutshell, I was contacted by Loan Depot to refinance
my home at a better interest rate than I currently had. I was given a lot of
numbers over the phone, carefully writing them down, leaving nothing to memory.
I told the agent (name on request) that if those numbers were good I would do
the loan. I agreed (over the phone) that there would be absolutely no out-of-of
pocket expense EXCEPT for the apprasial fee of $395. The agent overnighted the
package with the loan documents and I immediately went to the page with all the
numbers. Lo and behold, the figures were $2000 more than what he told me. Also,
he had me paying almost $1800 out of pocket to get to that number, actually
making the total number almost $4000 more than what he gave me on the phone. The
agent had also told me he always gives a "high number" and totals
would probably come in even lower than what he was giving me on the phone.
Well, needless to say, I went ballastic. I called my credit card company and
Loan Depot had already charged $10 to my account, definitely not authorized.
Not big money, just the principle, so a stop was immediately put on that $10
and account closed so no additional funds could be charged. I then called the
agent and in no uncertain terms advised him as to what I thought of him and
Loan Depot. I also told him to be sure I was NEVER, EVER, contacted by Loan
Depot again. I have been called by them twice since that last conversation with
the original agent. The last one said this incident would be passed along to
the manager but I will not hold my breath. Rather not hear from them again,
anyway. What I do not understand is how Loan Depot has a Revdex.com APlus Rating. This
actually played into my decision to hear what they had to say. They deserve a F
Minus rating. Also, what worries me is that a lot of people, including senior
citizens, will get suckered into them on the phone and not even read their
paperwork when received. this Company needs to be stopped.....
Borrower’s Desired Resolution:
 
Never to hear from them again!!!!!!
 
loanDepot’s Borrower Complaint Summary:
 
1.       Borrower claims that his loan documents showing
terms/Fees did not reflect what was quoted over the phone.
2.       Borrower requesting to never be contacted by
loanDepot ever again.
 
loanDepot Findings and
Response:
1.       After a review of Mr. [redacted]’s loan, the borrower
was initially locked in to a 3.750% Conforming Fixed 20 year on April 24, 2015.
During Mr. [redacted]’s communication with loanDepot on April 23, 2015 the Senior
Mortgage Banker advised Mr. [redacted] that the estimated closing costs would presumably
be in the range of $3,800, but explained that amount was an estimate. loanDepot
discussed Mr. [redacted]’s escrow account from his current lender, stating that he
should expect a refund of his escrow account to apply towards his loan with
loanDepot as cash from borrower. loanDepot was unable to validate Mr. [redacted]’s
claim as the estimated terms and fees in relation to the loan were reflected
the same on the loan application as discussed with Mr. [redacted].
 
At Mr. [redacted]’s request, all phone numbers
on file have been added to the do not call list and his address has been added
to the do not mail list to ensure that he will no longer receive any
solicitation from loanDepot.
 
Should Mr. [redacted] have any additional
questions or concerns, he may contact the Customer Care Department at
[redacted] ext. [redacted]. Representatives are available to assist her Monday
through Friday from 8am to 5pm, PST.

Consumer Complaint Filed With Revdex.com: Tried to get a refinance loan on my house to do some upgrades on our home and they were trying to get us a different type of loan that would not work for us on our plans and when we were trying to find out information on the loan they were rude and would not let us...

know nothing at all on the loan I talked to one guy and he stated that I was a pain for asking the amounts of the loan and types cause most people don't ask they just get a loan from them. so they passed my loan papers to someone else and she was wanting all the upgrades on the home to be done before she would do anything for us because she said the loan type that was put into the computer from another employee was a FHA loan and not a construction loan and their was nothing she could do and that I needed to talk to sales department and have it changed so I did talk to them and they were rude and would never call me back I would wait for days without a call so I would call them and ask and I would not get any answers from anyone I keep trying to call for a supervisor and I left them messages and never had any calls from them. so I contacted another person and they got me intouch with a supervisor who would not understand the problem he would give me a run around on everything that was the problem. they had a appriser come out and said that the ac\heater was no good and would need repairs. so I contacted her about it and she wrote back saying that she didn't know how to turn it on and was not licensed to inspect it I would need a home inspector to check it out. so I hired a home inspector and he had no problems at all. I sent that information into them and they said it was not up to them on that and the under writer would want it replaced since the apprisor requested it. I explained that to the supervisor and he didn't give any answer for it he said that the apprisor would have the right to inspect it. I contacted the state and they said no a inspector must do the inspection on it.   Consumer Desired Resolution: Refund   loanDepot Findings and Response: We appreciate the opportunity to respond to our customer's complaint. loanDepot takes customer feedback very seriously. We understand that the customer may have a particular loan program in mind when the application was initiated. However, finding a loan that fits the customer's direct needs can be complex. During the initial process of the loan, we discuss the type of the programs available and potential costs involved. We regret that the customer felt as though he did not receive enough explanation regarding the various loan programs available. The loan process is arduous and can involve a lot of requirements that the customer is not familiar with. We consider our Licensed Loan Officers to be subject matter experts in providing guidance to our customers. Before a decision can be determined, there will be requests for documentation and certain conditions will also be requested to be met before we can proceed with the loan. We have conducted an exhaustive internal audit of all the details of the process involved in the customer's loan. We have concluded that a refund of the appraisal is not warranted. The customer signed an Appraisal Deposit Agreement and the appraisal was completed on April 26, 2016. The appraisal is a necessary tool that allows us to determine and meet requirements for an FHA loan. The appraisers are not selected by loanDepot to ensure that the evaluation is completely unbiased. We are compelled to adhere strictly to government and investor guidelines. It was determined from the appraisal that the property needed to meet minimum standards in order to continue with the underwriting process. We understand that the customer may have not agreed with the determination made from the licensed appraiser. Customer notified us that he was also reaching out to another lender who extended a better initial rate and an effort was made by loanDepot to meet the competitor’s initial offer. Customer was not in agreement with the cost of the repairs to satisfy the appraisal conditions. Furthermore, customer notified us that the other lender was willing to approve the loan in spite of the necessary conditions that needed to be completed. loanDepot is committed to working with complete transparency and adherence to government and investor guidelines. loanDepot is unable to forego necessary factors of compliance or make concessions to approve a loan. We apologize if the customer felt as though there was a breakdown in communication, during our internal research there were calls conducted between loanDepot and the customer within the appropriate required times. loanDepot strives to exceed the expectation of customer service for all our customers. We hope that the customer can reach out to us in a future opportunity to meet their financial goals. If additional information is needed, please contact Customer Care at [redacted], Ext. [redacted], Monday to Friday, 8:00AM to 5:00PM, Pacific Time. Sincerely, [redacted] Customer Care Analyst

loanDepot sincerely apologizes and regrets that the
borrower feels that loanDepot exhibited rude behavior towards her as well as
the communication issues between her and loanDepot staff. This will be
researched and addressed internally with management.
In regards to the statement, “I was...

told if loan did not go
through I would received appraisal fee back,” a thorough review of loanDepot’s
system was completed, and there appears to be no viable evidence that supports
this claim. Ms. [redacted] was charged $395 for the purpose of an appraisal
deposit collected by credit card. Prior to collecting this fee, loanDepot
evaluates the customer’s needs and determines if they have a loan product that
will help the customer. The company conducts an extensive screening process on
the phone with the customer to collect data and find the property program that
will fit the customer’s needs. loanDepot then emails the customer information
about moving forward with the loan.
The borrower executed the Appraisal Deposit Agreement on
August 20, 2015 where it was acknowledged:
“The Appraisal Deposit of $395.00 is non-refundable if an
appraisal has been completed on the subject property. If an appraisal has been
completed on the subject property and you cancel your application, you will not
receive a refund of this appraisal deposit.”
On October 6, 2015, the borrower cancelled the loan
application with loanDepot per her request. Because the appraisal was completed
and the Appraisal Deposit Agreement was executed, a refund of  that $395 is not warranted. By signing and
returning said agreement, the borrower acknowledged that she read, fully
understood and agreed to the terms and conditions set thereof. The appraisal
alone totaled $425 in where loanDepot had to cover the remaining balance.
In conclusion, loanDepot sincerely
apologizes that Ms. [redacted]’s experience with loanDepot has been anything less
than satisfactory and that she feels that her loan team was rude towards her.
In regards to the $395 refund, it is not warranted due to the appraisal being
completed and the borrower executing the Appraisal Deposit Agreement. loanDepot
did not profit from this loan application as we incurred expenses and losses on
the borrower’s behalf that exceeded the $395 amount. We ordered an appraisal
report, ran credit reports, title reports, and were subject to additional costs
on other services rendered.
Should Ms. [redacted] have additional questions or concerns,
she may contact loanDepot’s Customer Care Department at [redacted] ext. [redacted].
Representatives are available to assist Monday through Friday, from 8am to 5pm,
PST.

Ms. [redacted] began the loan process with loanDepot on April 12, 2016 to do a cash-out refinance on their main property in [redacted] in conjunction with a rate and term refinance for their investment property in [redacted]. The purpose of the cash-out was to pay off the investment...

property.    Ms. [redacted] was informed at the time of application that as long both transactions closed and funded in May, the first mortgage payment due to loanDepot would be August, thus being able to bypass the June and July mortgage payments.   Unfortunately, loanDepot was unable to close the transaction by May. There was an appraisal delay with the investment property in which the report was not received until May 11. The value on the appraisal came in lower than anticipated which required for the file to be restructured causing further delays.   Ms. [redacted] was contacted via email by the Senior Account Manager on June 27 informing her that per the credit supplement, it was determined that the June mortgage payment for both properties with [redacted] had not been paid. Ms. [redacted] was informed to make the payment before the end of the month to not accrue a 30-day late on credit. Ms. [redacted] responded to the email with the following statement “I remember definitely paid June’s mortgages. I’ll get statements from my bank. Joanne told me to be sure to pay June’s mortgages.”   A follow up call by the Senior Account Manager was made to Ms. [redacted] on July 2 in which a voicemail was left to confirm that June payment was made. As the borrower was unable to provide clarification on the payments, another credit supplement was ordered. It was discovered at this time that the payment was not made, thus causing a 30 day late reporting on credit.   On July 15, the Senior Account Manager was able to get in touch with Ms. [redacted] via phone. Per the call recording, Ms. [redacted] was informed that the June payment was not made and that if it surpassed another 30 days, we would not be able to do the loan. On the recorded call, Ms. [redacted] argues that she was advised to not make the June and July payment. The Senior Account Manager responds by stating that she was not advised this as payments should continue to be made until a confirmed closing date is established. At this time, the Senior Account Manager also informs the borrower to bring the current payment for July current as two 60-day lates reporting on credit would decline the loan. The call ends with the borrower stating that she will make the payments and provide documentation confirming this.   The Licensed Lending Officer attempted to contact Ms. [redacted] on July 26, and a voicemail was left to follow up and confirm that the June and July mortgage payments were made. Another attempt on July 29 was made by the Production Manager in where another voicemail was left to verify the status on the mortgage payments.   Both loans were declined on August 1 due to borrower commitment.  Several attempts were made to contact Ms. [redacted] as of July 15 with no response.   Upon review of communication, there is no viable evidence to support Ms. [redacted]s allegation that they were informed to not make the June and July mortgage payments. As stated above, Ms. [redacted] confirms via email on June 27 that the June payment was made and that she was informed to make the payment. Call recordings also indicate, Ms. [redacted] was properly advised to make their July mortgage payment.   As long as Ms. [redacted] is current on the mortgage payments and can provide documentation confirming that the June and July mortgage payments were made and there are no 60-day lates reporting on credit, loanDepot may be able to continue with both refinance transactions.  However, there is no certainty that the loan will be approved as there are underwriting conditions that still need to be satisfied as loanDepot was not able to submit the file back to underwriting for a final approval due to the mortgage payment delays.   loanDepot attempted to reach out to Ms. [redacted] on August 19 to go over the requirements in order to proceed with the refinance, but was unsuccessful. As of this date, August 23, loanDepot has not received a response from Ms. [redacted].

loanDepot is committed to the complete satisfaction of our customers. Our goal is to provide complete transparency in all our transactions. We appreciate the opportunity to address the customer's concerns.We sincerely regret that the customer felt as though we were misleading. In order to complete...

our review, we need additional information essential in accessing the customer's file. We have reached out to the customer directly to resolve their request for a refund of the appraisal deposit.If additional information is required, contact Customer Care Department at [redacted]

San Diego Revdex.com Complaint #:       [redacted] Borrower Name:                              [redacted] Loan...

                                        ...⇄ [redacted] Complaint Date:                               June 21, 2017   Borrower’s Complaint Filed with the Revdex.com:   I sent in money monthly, early, to make my mortgage payments ahead of time. I started sending the payments, 1/2 every two weeks for 2 months before they notified me that I could not do that. I have gone back to paying the full monthly payments and have tried to get some of the money back that I overpaid to them and I keep being told something different every time. I have asked for an audit of my account so that they can see that I have paid in $510 more than I owed which I am not being credited for. I have called weekly for 2 months and cannot get this straightened up. There is no help there to turn to and their accounting is terrible. The sent me a check which I deposited and then they refused to pay on the check they sent me. This cost me overdraft fees and charges. They recently drew money out of my account and sent me a letter dated the same day they drew it out and they did not have my "verbal permission" as the letter stated. I need help and can't get it and I don't want to give them another dime until this is straightened out.   Borrower’s Desired Resolution:   I want the money that Loan Depot just drew out of my account returned to me, I want them to refund any and all late fees and bank fees I was charged and add the $510 of my money that they still owe me to the June payment as promised by their manager.   loanDepot Findings and Response   We are currently reviewing the customer’s account and working to find a resolution.   If Ms. [redacted] has any further questions or concerns, she may contact our Customer Care Analyst, [redacted], at [redacted] ext. [redacted]. Tell us why here...