LoanDepot

San Diego Revdex.com:               [redacted] Consumer Name:            [redacted] Complaint Date:              July 28, 2016   Consumer Complaint Filed With Revdex.com: May 7th...

2016 we started the refinance process with Loan Depot. At that time we submitted all paperwork required. We locked into a fix rate until 6/21. We received an overview as to how long everything takes and was assured would be a very smooth process since everything is done under one roof. Once the appraisal was done on 5/16, we were supposed to hear from our Account Manager. 9 days later, I had to reach out to our Loan Officer asking why I haven't heard anything. Our Account Manager finally called, looked thru our paperwork while on the phone and said she would submit everything to underwriting and should hear something within 5-7 days. I finally e-mailed my Account Manager on 6/1 since I didn't hear from her (again) and found out that she needs copies of our drivers license, which I e-mailed that day. She told me that she would send everything back to underwriting but would take 14 days because they are backed up. I immediately told her that was concerning since my rate lock expired 6/21 and that would take us to 6/15. We didn't get the approval until 6/22 contingent on the final underwriting approval and would be contacting us within 48-72 hours to review the final items needed. On 6/27 I e-mailed my Account Manager again asking when I would hear from her since it's been more than 72 hours. I didn't hear back from her until 6/28 saying hopefully she'll be contacting me today, which she did. . I received a Loan Depot disclosure on 7/7 and the Notary came to our home on 7/11 to sign all docs so it would fund by 7/14. I didn't receive funding notification so on 7/15 I get a call from my Account Manager saying "I have really bad news. I calculated the loan docs wrong so we need to redo and have you resign at 5:30pm. We finally received notification our loan funded on 7/21!! I started getting collection calls from my "old" Lender and found out that as of today they have YET TO BE PAID. Last heard that funds will be wired tomorrow. horrible nightmare.  Consumer Desired Resolution: I want an apology letter sent to my old lender. Refund for all accrued interest since 6/21 and some sort of compensation for the anxiety suffered thru the entire process. I also had to pay over $600 when we signed the first set of incorrect docs because of another error made by Loan Depot. I honestly don't know what would make me want to EVER do business with them again. Something that was supposed to take 6 weeks STILL isn't done 11 weeks later!  loanDepot Findings and Response: loanDepot is committed to the complete satisfaction of our customers. The concerns of our customers are taken very seriously. Surpassing their level of service expectations is priority. We pride ourselves on working with the highest level of integrity in all facets of our processes. We have dedicated prompt attention to the concerns noted in the customer’s complaint and appreciate the opportunity to clarify any misunderstandings. Our goal as a company is to assist customers in realizing their financial dreams. We understand that the complexities of the Lending industry can be very daunting at times. Our Licensed Loan Officers are experts in their respective field, and they are ready to take on any barrier to making the loan process a success. Recent world events have had a major impact on mortgage interest rates. These events have led to astounding rate advantages for consumers who are homeowners. This had a very severe impact on all aspects of loan processing. These delays, which were mostly beyond our control, affected all areas of our business.  We do give the customer reasonable time expectancy for the completion, however, circumstances beyond our control aided in prolonging the process. All lenders were faced with the challenges of staffing for industry production capacity. However, we actively oversee the loan process at all times to ensure compliance. We were often waiting for certain items that were pertinent to move forward with the loan. The Senior Account Manager, while working diligently to process the loan; and avoid a barrage of telephone calls with updates on stagnant items, may not have contacted the customer in the manner they expected. This in no way should be perceived as abandoning the loan in any way. We recognize that the customer provided everything in a timely manner. Our associates were working behind the scenes with various channels to ensure that all requirements were satisfied. loanDepot is apologetic for any inconvenience the customer encountered. Our commitment to transparency and accuracy is a testament to our tenacity in doing the right thing. We discovered that there were slight inaccuracies that needed to be adjusted. We understand that to err is human; however, we strive to provide the best quality and service to our customers. We always encourage our customers to continue paying their contractual obligations until funds are disbursed to prevent any residual impact to credit and maintain good standing with their previous lender. We understand how important credit standing is, and how hard our customer worked for it. We are thankful for the time the customer took to alert us regarding their concerns. We are grateful for the opportunity to address their concerns. We know customer feedback is always integral to the longevity of a successful business. If additional information is needed, please contact Customer Care at [redacted], Extension [redacted], Monday to Friday, 8:00AM to 5:00PM Pacific Time.  Sincerely, [redacted] Customer Care Analyst

loanDepot orders appraisals from an Appraisal Management Company, an approved 3rd party vendor. The Appraisal Management Company assigns the order to a licensed appraiser that is knowledgeable within the market area to ensure that the assessment is completely unbiased. At no such time can a...

representative of loanDepot be in communication with an appraiser. In the event that the customer expresses concern regarding the appraisal report, an appeal process may be initiated by completing a Value Appeal Form.   The appraisal inspection for the property took place on June 10, 2016; the appraisal report was received on June 14, 2016 with a value of $400,000. The borrower reached out via email on June 14, 2016, stating that there were inaccuracies within the appraisal regarding the room and bathroom count as well as the square footage. The licensed loan agent responded to the borrower, informed that in order to dispute the inaccuracies, a Value Appeal Form was required to be submitted. After discussing the appeal process with the borrower it was determined, as the appraisal value had no bearing to the loan terms, the Value Appeal was not necessary.   It was discovered during the Underwriting process, the appraiser compared the property, which was built 36 years ago, to properties that were new construction. Therefore, the Underwriter conditioned for a Desk Review, requesting at minimum, one comparable that is within the age as the property. The Desk Review was ordered on June 25, 2016. Unfortunately the Appraisal Management Company was unable to locate an appraiser to complete the Desk Review in a timely manner. The Desk Review was received and a copy provided to the borrower on July 18, 2016. The opinion value on the review is $330,000, with a recommendation for loanDepot to consider ordering another appraisal.    The borrower informed via email on July 18, 2016 that the appraisal still had inaccuracies and request to cancel the loan. The additional room count and square footage the borrower is referring to is in the basement. According to Fannie Mae guidelines basements are not included in the room count and square footage regardless if it is fully furnished as it is below-grade. Only finished above-grade areas can be used in the room count and square footage.   The borrower executed the Appraisal Deposit Agreement on May 24, 2016, where the borrower acknowledges 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.   loanDepot did not profit from this loan application as we incurred expenses and losses on the borrower’s behalf that exceeded the $425 amount. We ordered an appraisal reports, title reports, and were subject to additional costs on other services rendered. However, loanDepot will issue a refund in the amount of $425 as a gesture of good faith.   As per the borrower request, the loan has been cancelled. Customer Care attempted to reach out to the borrower to discuss the complaint but was not successful.

Please see the attached Letter of Explanation and supporting documentation regarding this complaint.Thank You. San Diego Revdex.com Complaint #:  [redacted]  Borrower Name:   [redacted]  Complaint Date:  ...

4/21/2015  Borrower’s Complaint Filed with the Revdex.com:  I called...⇄ /> [redacted],once mr [redacted] told me and my wife that we were approv...⇄ Borrower claims that he was told the process would take 4 weeks to ...⇄ Borrower states that the appraised value came back lower than expected...⇄ Borrower states that loanDepot would still be able to do a streamline...⇄ Borrower claims that loanDepot cannot do the loan because his wife’s...⇄ Borrower is requesting the $400 appraisal fee.   loanDepot Findings a...⇄ The borrower’s application was taken on 3/20/2015. At this time, Mr....⇄ When loanDepot took this borrower’s application, a program was identi...⇄ In attempt to still help the borrower financially, loanDepot offered t...⇄ In process, it was discovered that Mr. [redacted]’s qualifying FICO ...⇄ The borrower was charged $395 for the purpose of an appraisal deposit...⇄

We appreciate the opportunity to respond to our customers concerns. We understand that customers may have certain programs or outcomes in mind when looking for a refinance. We do review a lot of programs with the customer initially, as estimates. We still have to substantiate all the information...

with detailed documentation, to make sure the customer can precede with a particular program. Regretfully, certain factors can drastically influence loan programs in an adverse way. Our goal is to help the customer get his loan funded and closed; loanDepot does not profit, until this happens.  Customer’s financial situations can contribute to the customer being ineligible for certain programs. We as lenders must adhere to the same investor and governmental regulations, to prove the customers’ ability to pay.  We consider our Licensed Lending Officers to be experts in their field, the customer’s notion that they would purposely mislead is not correct. Their goal is ultimately to get the loan funded. We would not purposely sabotage the loan. We do everything we can, with in our limits, to get the program the customer had in mind. However, there are times that we have to find comparable programs that may have guidelines in place that did not meet with the customer’s initial plan.We did get our customer in a program that still had a benefit; however, our customer has stated that he did not agree with the Mortgage Insurance Premium requirement. However, the customer did sign the HUD Important Notice to Homebuyers on 10/14/2016.This document explains that the FHA will collect MIP.  It explains that the customer will pay the MIP for the first 11 years, or the first 30 years, depending on the LTV ratio. We sincerely regret that the customer feels as though he did not get the program he expected. We will take his feedback to improve our current communication with customers to a more precise level. We did inform the customer, that after 6 months, he can look to refinance, and find a program without MIP.We are thankful to be able to provide an exhaustive account of this loan process. We hope to work with this customer in reviewing his options in 6 months from the closing date.If additional information is needed, please contact our Customer Care Team by phone at ###-###-####, Ext. [redacted], Monday to Friday, 8:00AM to 5:00PM Pacific Time.

loanDepot Response:Please accept this as a formal response to the complaint filed by the aforementioned customer. We understand that the process of the loan can be arduous and complex. Our goal is to ensure a smooth and efficient transaction. However, loanDepot must comply with investor and...

government regulations. Although we try to anticipate the closing of a loan, factors beyond our control can contribute to unexpected delays. It is often necessary to request additional documentation to clarify the data we received. Every 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 manner. We make every effort to keep our customer informed of the processes involved. Often there can be lengthy time frames to collect and validate the required documents. For this reason, we encourage the customer to pay their credit obligations when they are due to avoid any negative impact; including derogatory credit reporting.loanDepot does not have control over the appraisal transaction. The appraisers are selected by an appraisal management company. All licensed appraisers adhere to strict regulations regarding real property valuation, and they meet government qualification standards. In conclusion of our internal review, we found the assigned loan team acted in compliance, and the processes followed were consistent within the guidelines of review. Our associates worked diligent with various loan channels to ensure that all requirements were satisfied. As part of our commitment to superior customer care, we issued a refund of the appraisal deposit. However, we must respectfully decline the customer’s request for compensation for monetary losses.We are thankful for the time the customer took to alert us of their concerns. We are grateful to have been afforded the opportunity to respond to the complaint. 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

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]

loanDepot sincerely apologizes and regrets any inconvenience this has caused Mr. [redacted]. Per is request, we have added Mr. [redacted]’s contact information to our Do Not Solicit lists.   Should he have any further concerns, he may contact loanDepot’s Customer Care Department at [redacted] ext....

[redacted]. Representatives are available to assist Monday through Friday from 8am to 5pm, PST.

Attached is the Letter of Explanation regarding this complaint.Thank You. San Diego Revdex.com Complaint #: [redacted]Borrower Name:    [redacted]Complaint Date:    7/21/2015Borrower’s Complaint Filed with the Revdex.com:They charged me interest on the new loan when it was approved...

but took 6 days to pay off the old loans.I was charged duplicate interest for 6 days. They should have wired the payoff the same or next day topay off the old loans. There is no excuse for their behavior. When I complained they told me that's theway it is. Also getting the loan was a nightmare. They told me it would be done in less than 30 days. Ittook over 90 days with constant questions. I asked them to give me one list of all the questions whichthey did. However new questions kept coming up.Borrower’s Desired Resolution:reimburse me for the 6 days of duplicate interest.loanDepot Findings and Response:Please be advised that the interest payment on all mortgage loans is applied one month in arrearswherein payments are applied to cover the current month’s principal and the previous month’s interest.In Mr. [redacted]’s case, this means that when he made his July payment to his previous lender, hewas essentially paying interest for the month of June. The reason for the cushion is not to defraud aborrower out of his or her money, but to make sure a shortage does not occur when the loan is beingpaid off. This is in no way a double payment as suggested.  However, as a faith of good gesture and customer service concession, loanDepot will compensate him$250. Mr. [redacted] has been working directly with loanDepot’s Legal Department to further addresshis concerns in regards to this.

loanDepot sincerely apologizes for the inconvenience this
has caused Ms. [redacted] and for the miscommunication that occurred. This has
been researched and addressed internally with management. As a gesture of good
faith, loanDepot has refunded the $10 on March 21, 2016.
Should Ms. [redacted]...

have further concerns or questions, she
may contact loanDepot Customer Care at [redacted] ext. [redacted]. Representatives
are available from Monday through Friday from 8am to 5pm, PST.

Dear [redacted], We have received notification of your request to revisit the review of the handling of your loan process.  We regret that you felt our response was unsatisfactory. A second audit was performed to confirm the findings evaluated for the initial response provided.  We take your request very seriously. It is common practice amongst lenders to be placed as an insured party on the mortgage insurance. During the loan process, we must work with timeliness, to avoid rate lock expirations. Placing loanDepot as an insured party on the mortgage insurance will facilitate us to expedite the closing of the loan, if approved. This practice does not guarantee the approval of the loan. We apologize that you feel as though there was a breakdown in communication regarding the debt to income ratio.  We exhausted all the possible exceptions available, to meet the eligibility requirements for the type of loan you preferred. However, many factors as outlined in our initial response did not permit us to approve such a loan. loanDepot is determined to assist our customers in realizing their financial goals. We conducted an additional internal review, due to your request, of the communication attempts made to you. Our findings concluded that our attempts were in compliance.  The appraisal process was also reevaluated, and found to be completed accurately. The reimbursement of the appraisal fee is not warranted. loanDepot is grateful for the opportunity to address your concerns.  loanDepot will continue to strive for excellence. Customer feedback is important to our business. Raising the bar in customer service standards is the key to our success. If additional information is needed, please feel free to contact our Customer Care Department at [redacted], Ext. [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.
Regards,
[redacted]

loanDepot is committed to the complete satisfaction of our customers. Our goal is to provide complete transparency in all our processes. We have dedicated prompt attention to the concerns noted in the customer’s complaint and appreciate the opportunity to clarify any misunderstandings. We understand...

that the customer was unsatisfied with the appraiser’s performance and evaluation of their home. We take the concerns of our customers very seriously, and we make every effort to provide a resolution. However, the appraisers are not selected by loanDepot to ensure that the evaluation is completely unbiased. loanDepot is required by law to order an appraisal from an independent, non-affiliated, licensed appraisal management company (AMC). All licensed appraisers must adhere to strict regulations regarding real property valuation, and they must meet the qualification criteria of the FIRREA. We have forwarded this matter regarding the appraiser to the AMC to address internally. The AMC is responsible to ensure the appraisal transaction conforms to the ethical and performance standards of the Uniform Standards of Professional Appraisal Practice. loanDepot does not have control over the appraisal transaction but the customer’s experience has been documented with our Vendor Management Team; we use complaint data to identify problems and trends. The appraisal industry is closely monitored by government agencies to ensure regulatory compliance. The Appraisal Foundation sets the congressionally authorized standards for the appraisal profession. loanDepot followed the formal process to appeal the appraisal, however the final valuation did not meet the investor guidelines; therefore, we could not continue with the particular loan program offered. Our production team made efforts to exhaust all options in an attempt to get the loan approved. However, we are still held to the strict guidelines of the loan investors. We are required to complete the loan process within a certain time frame. Due to this restriction, we are not able to keep the loan file opened unless the loan review process is actively progressing. The customer can contact their Loan Officer to discuss the possibility of other loan programs. In an effort to continue our goal for superior customer service, we have issued a reimbursement of the appraisal deposit. 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], Extension [redacted], Monday to Friday, 8:00AM to 5:00PM Pacific Time. Sincerely, [redacted] Customer Care Analyst

Hello,Please see attached response for complaint ID [redacted].Thanks,San Diego Revdex.com Complaint #: [redacted]Borrower Name:    [redacted]Complaint Date:    8/28/15Borrower’s Complaint Filed with the Revdex.com:The Business response does not explain why they sent out the false offer to begin with. Offering lower payments ona $116,000 loan, and stating during our conversation that it was for a shorter amount of time, is not possible. Ibelieve it is a ploy to get people call in for the offer of low interest loans, that don't actually exist, and when theapplicant is not "qualified" they then offer high interest loans to people that are actually desperate for help andwould accept it because they are desperate.Borrower’s Desired Resolution:loanDepot’s Borrower Complaint Summary:1. Borrower claims that she received a notice for a refinance with false advertisement.2. Borrower claims she received an email with outrageous rates.  loanDepot Findings and Response:1. After a review of Ms. [redacted]’s loan application, the borrower was contacted regarding an FHABenefits Eligibility Notice preapproval.  The notice Ms. [redacted] received specified that she wasprequalified for a 3/1 ARM FHA Streamline refinance at a rate of 2.625 percent. Ms. [redacted] contactedloanDepot on July 13, 2015 regarding said notice. During her conversation with loanDepot Ms. [redacted]was informed by her assigned Licensed Senior Mortgage Banker that the interest rate within thenotice received was regarding an ARM loan product. The Senior Mortgage Banker further explainedthat the lower rates were specifically for the variable loan products offered at loanDepot. Afterreviewing Ms. [redacted]’s credit bureau information and discussing the possible options and loanproducts available Ms. [redacted] and the Senior Mortgage Banker agreed that an FHA loan productwould not be beneficial. At that time, the Senior Mortgage banker recommended looking intooptions available for a Conventional loan product, in which Ms. [redacted] agreed. After reviewing thepossible options for a Conventional loan product Ms. [redacted] and her Senior Mortgage Banker agreedthis option would not be beneficial for her financial situation.  Furthermore, after concluding that a Conventional loan product would not be beneficial, the SeniorMortgage Banker stated that she qualified for another product that loanDepot offered to possiblyassist with her financial situation. Ms. [redacted] stated that she was not at home and requested if shewould be able to contact the Senior Mortgage Banker at a later time to discuss the other productavailable. The Senior Mortgage Banker advised the borrower that he would email the information toMs. [redacted] for her review. No further communication was made with loanDepot after theseconversations.  2. The additional information emailed to Ms. [redacted] regarding the product available to assist with herfinancial situation referred to the personal loan options available to her specific needs. Our personalloan process begins with performing a soft credit inquiry to generate customized offers for eachapplicant. The soft credit inquiry does not impact the customer’s credit bureau scores. However, ifan offer is selected a hard credit inquiry is performed as a part of the underwriting process. Thishard credit inquiry will subsequently show as an ‘inquiry’ on the credit bureau reports. loanDepotdid not perform any further action in regards to the personal loan as Ms. [redacted] did not request tomove forward with the options provided.  3. In order to alleviate any frustration she may have, loanDepot has added Ms. [redacted]’s information toour Do Not Call and Do Not Solicit list to ensure she no longer receives any type of communications.    In conclusion, loanDepot sincerely apologizes that Ms. [redacted]’s experience with loanDepot was anythingless than satisfactory. We regret that we were unable to assist Ms. [redacted] with her goal of financialfreedom. loanDepot’s response remains the same at this time.Should Ms. [redacted] have any additional questions or concerns, she 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]
[redacted]
Complaint Date:                               12/1/2015
Borrower’s Complaint Filed
with the Revdex.com:
 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 Ron 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.
loanDepot’s Borrower Complaint Summary:
1.       Borrower states dissatisfaction in communications
with loanDepot.
loanDepot Findings and Response:
1.     
loanDepot apologizes for the
dissatisfaction in service received and the communication issues between him
and loanDepot.
2.     
During communication through email with
the authorized third party, the unauthorized party, [redacted], was included in the email chain by the authorized third
party. Once it was discovered that the party was unauthorized, loanDepot
obtained authorization to speak to said party prior to moving forward with any further
requests.
3.       loanDepot
is currently working with Mr. [redacted] to address all concerns. We received a
request from Mr. [redacted] on November 27, 2015 to remove the Home Owners Insurance
impound account in order to pay the monthly dues separately from the loan.
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.  For your reference, details of the offer I reviewed appear below.  Though my payment was made to an outside source Loandepot should refund me that amount as well since I had to cancel my loan with an outside source due to loandepot advising me they would be able to do my loan without a third party when that was not true.  Their lies caused me to cancel something that I had paid for in which they should be liable for.   If no refund is given I will be going to the Bureau or Real Estate and Department of Business Oversight.  
Regards,
[redacted]

We are committed to providing our customers with uncompromised service in all our transactions. Customer feedback is essential to improving our business practices. We take pride in having a reputable rating of excellence in our industry. We believe each customer interaction is a contribution to the...

success of our business. We are thankful for the chance to respond to this complaint.We are grateful for the time our customer took to share their experience with us. We understand the importance of customer service, and how customer dissatisfaction can negatively impact our business. With this understanding, we train our staff to uphold the core values of our company. We are very sorry that the customer had a family emergency. Although we do not know the details, we hope that everything is okay. We want to assure the customer that the necessary steps to conduct an investigation have been taken, and we will happily address opportunities internally to enhance our customer interactions.Our records show a refund was processed on July 27, 2017, in the amount of $375.00, through the same payment method initially used. We appreciate the customer’s interest in loanDepot, and we hope this experience does not deter them from reaching out to us in the future to assist with financial needs.If additional assistance is needed, please contact our Customer Care Team at ([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.
The process that is described in the response is not entirely correct. The Loan depot failed to contact myself in any way or form when the loan was nearing closing, further more they also had me pay off two on time credit lines to satisfy the loan terms in the excess of $1200. If the policy of the company states that they do title checks along with credit checks and this policy is one that's employed often pleas explain how the topic of subordinated loans never came up? In addition when speaking to loan depot officials I let them know ahead of time my water treatment installation, because why wouldn't I and then pay for an appraisal just to be turned away days before I was told I would be closing. That makes no sense at all to me ( smh ). Lastly why was the communication at the end so  distraught that no one would take my calls for two weeks and when I finally find someone they break down and say unfortunately we cannot proceed with your loan. So no I am not satisfied with there answer after putting out $1600 just to be ignored and then rejected.
Regards,
[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.
Regards,
[redacted]

Please accept this as a formal response to the rebuttal that loanDepot received regarding the complaint originally submitted on March 03, 2017.
As with any payoff transaction, the new lender will request a payoff demand from the current lender. loanDepot provided the lender a payoff demand on November 16, 2016, valid through November 30, 2016, reflecting a balance of $14,248.93. It is the new lender’s responsibility to verify and confirm the payoff amount prior to their transaction closing. As our loan was not paid in full, the customer is still obligated to pay the remaining balance of $391.83 plus any interest and/or penalties that may have accumulated.
We appreciate the opportunity to reevaluate the customer’s complaint. Regrettably, our stance regarding this matter remains unchanged. As stated above, the new lender is accountable to request a payoff demand. Please consider this as our final review of this matter. Should the customer wish to further discuss, they may contact, Customer Care Supervisor, [redacted], at ###-###-#### or via email at [redacted]@loandepot.com

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

[redacted]
 
Complaint Date:                               4/14/2015
 
Borrower’s Complaint Filed
with the Revdex.com:
 
After deciding to move forward with applying for a refi,
providing my credit card info, and pulling my credit report, [redacted] tells
me that he will touch base with me the next day. Despite multiple calls and
emails to him, I do not hear from him for the next two days. On the 2nd day, I
left a message for his manager [redacted], on the 3rd day of waiting, I call
the customer care line and they transfer me to [redacted]. He answers and proceeds
to tell me that my loan was cancelled and how much time he spent on this etc. I
tell him I'm disturbed by the fact that we were supposed to touch base the next
morning but he didn't bother to respond over the next two days. He then
proceeds on a rant about the number of calls and emails he has and that he has
to prioritize, that he doesn't get paid for no's, that he spends 70 hours a
week working so he needs to take care of his personal business, and that he had
to file his taxes because it's required of them or he could lose his job. I
don't care to hear all his excuses, I wanted some follow through one way or
another.
Borrower’s Desired Resolution:
 
Stop advertising falsely that customer care is important to
Loan Depot. It's obviously not the case.
loanDepot’s Borrower Complaint Summary:
 
1.       Borrower claims that there was communication
issues between her and loanDepot staff.
 
loanDepot Findings and
Response:
1.      Ms. [redacted]’s application was taken on April 7,
2015.  Since April 8, 2015, loanDepot’s Senior Mortgage Banker has reach
out to Ms. [redacted] daily.  The loanDepot was first made aware of Mrs. [redacted]’s
communication concerns through her [redacted] posting on April 10, 2015.  The
following business day, Mrs. [redacted] again received communication from the Senior
Mortgage Banker.   Ultimately,
the file was declined and communicated to Mrs. [redacted] on April 9, 2015 due to debt
to income ratio.
2.     
loanDepot
apologizes that Mrs. [redacted] felt like there were communication issues between her
and loanDepot.  Upon review of her file, it was determined that there has
been consistent communication made on the file. 
 
In conclusion, loanDepot sincerely
apologizes that Mrs. [redacted]’s experience with loanDepot was anything less than
satisfactory. Here at loanDepot, Customer Service is our number one priority
and this instance is not a true reflection of how loanDepot conducts business
on a daily basis. This issue was thoroughly researched and personnel have been
addressed internally.
 
Should Mrs. [redacted] have any additional
questions or concerns, she may contact the Customer Care Department at
[redacted] ext. [redacted]. Representatives are available to assist her Monday
through Friday from 8am to 5pm, PST.
San Diego Revdex.com Complaint #:       [redacted]
 
Borrower Name:                              [redacted]
 
Complaint Date:                               4/14/2015
 
Borrower’s Complaint Filed
with the Revdex.com:
 
After deciding to move forward with applying for a refi,
providing my credit card info, and pulling my credit report, [redacted] tells
me that he will touch base with me the next day. Despite multiple calls and
emails to him, I do not hear from him for the next two days. On the 2nd day, I
left a message for his manager [redacted], on the 3rd day of waiting, I call
the customer care line and they transfer me to [redacted]. He answers and proceeds
to tell me that my loan was cancelled and how much time he spent on this etc. I
tell him I'm disturbed by the fact that we were supposed to touch base the next
morning but he didn't bother to respond over the next two days. He then
proceeds on a rant about the number of calls and emails he has and that he has
to prioritize, that he doesn't get paid for no's, that he spends 70 hours a
week working so he needs to take care of his personal business, and that he had
to file his taxes because it's required of them or he could lose his job. I
don't care to hear all his excuses, I wanted some follow through one way or
another.
Borrower’s Desired Resolution:
 
Stop advertising falsely that customer care is important to
Loan Depot. It's obviously not the case.
loanDepot’s Borrower Complaint Summary:
 
1.       Borrower claims that there was communication
issues between her and loanDepot staff.
 
loanDepot Findings and
Response:
1.      Ms. [redacted]’s application was taken on April 7,
2015.  Since April 8, 2015, loanDepot’s Senior Mortgage Banker has reach
out to Ms. [redacted] daily.  The loanDepot was first made aware of Mrs. [redacted]’s
communication concerns through her [redacted] posting on April 10, 2015.  The
following business day, Mrs. [redacted] again received communication from the Senior
Mortgage Banker.   Ultimately,
the file was declined and communicated to Mrs. [redacted] on April 9, 2015 due to debt
to income ratio.
2.     
loanDepot
apologizes that Mrs. [redacted] felt like there were communication issues between her
and loanDepot.  Upon review of her file, it was determined that there has
been consistent communication made on the file. 
 
In conclusion, loanDepot sincerely
apologizes that Mrs. [redacted]’s experience with loanDepot was anything less than
satisfactory. Here at loanDepot, Customer Service is our number one priority
and this instance is not a true reflection of how loanDepot conducts business
on a daily basis. This issue was thoroughly researched and personnel have been
addressed internally.
 
Should Mrs. [redacted] have any additional
questions or concerns, she may contact the Customer Care Department at
[redacted] ext. [redacted]. Representatives are available to assist her Monday
through Friday from 8am to 5pm, PST.