LoanDepot

I have been in a 5 year battle with Loan Depot to mitigate my loan payment. I have tried time and time again to review, adjust and have my payment reduced due to financial hardship. Loan Depot received $554 Million dollars from the Federal Government for TARP assistant for homeowners. in 2008. In that time they have used less than 1/2 to assist homeowners. They have delayed my adjustment so long, I cannot now even think of paying the past due amounts and they have had me in open foreclosure for 2 years. I am fending them off with Mitigation requests, Now they have denied me again and cut off my request for review. They are trying to set a sheriff sale date and will force me to file chapter 13.
I just want them to use the TARP dollars as was indicated by the Fed. I'm wondering how many other properties they have stolen just like they are trying to steal mine?

Ok So, I applied with Loandepot the second week of January. This application was to refinance my home. They gave me a really great rate of 3.3% which beat all the other companies. I was extremely satisfied with this rate, and the loan officer I spoke with was extremely professional. With that being said, I quickly turned down all other offers. Since I have done this, Loandepot has extended my extension approximately 6 times. As a matter of fact I am Currently waiting for this to come to close, and my lock rate has been extension has yet again to May. I am extremely dis satisfied with this company, and I wish I had never started this process with them. I will end my comment here, and just seek the proper offices to file my formal complaint. I will give one star because the site wont allow any less.

Our goal at loanDepot is to constantly find ways to surpass the expectations of our customersWe pride ourselves on working with the highest level of integrity and transparencyWe know that communication between customers and their mortgage company is essential in maintaining a good relationshipUpon receipt of the customer’s complaint, we assigned a designated person to act as a direct contact for the customerOur associate made an attempt to reach the customer by phone to address their concernsThe customer can be assured that derogatory information for March loan payment will be correctedWe sent a request on October 10, 2017, to the credit bureaus, to show this payment paid as agreed.loanDepot is apologetic for any inconvenience that the customer may have encounteredIf additional information is needed, our Customer Care department can be reached at (888) 337-

We appreciate the time the customer took to provide their feedback regarding their experience with usWe take pride on being a lender who works in an environment of complete transparency and integrityCustomer satisfaction is priorityWe strive to deliver service that exceeds our customer's expectation.loanDepot is committed to assisting customers realize their financial goalsWe exhaust all options in an attempt to get the loan approved for our customerHowever, it was determined that there were eligibility factors that did not enable us to move forward with the loanRegretfully, 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 $was issued for the appraisal depositThe refund was processed electronically to the payment method used initially, and we received confirmation ID: [redacted] to confirm the transaction was successfulAlthough 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 fieldsWe sincerely regret that there may have been a miscommunication regarding processing schedule for transactionsIn our ongoing effort to continue superior customer service, we have issued a reimbursement for the insufficient funds feeA check in the amount of $was sent by [redacted] overnight mail on September 14, 2017.loanDepot is apologetic for any inconvenience the customer may have encounteredWe trust the concerns have been effectively addressedIf additional information is needed, please contact our Customer Care Department at (888) 337-

We are grateful for the opportunity to respond to our customers concerns regarding their loan processLenders are not allowed to influence nor do their own appraisals All lenders must contract a licensed appraisal company to perform this task Customers, who do not agree with the results of their appraisal report, do have the opportunity to appeal their results Customers are asked to collect the data of to comparable properties, in their proximity, to validate their dispute for value We are unable to perform this on behalf of the customer, due to the perimeters of the laws The laws prohibit any influence or intervention by the Lender who is reviewing the loanWe submitted the information, which the customer provided, to the appraisal company for their evaluation We received notification that the appraisal appeal was completed, and our customer’s value was changed to $330, This was based on reconsideration of the comparable sales provided by our customer Despite the value change, it was not enough to assist in meeting the loan to value required by the FHA program Our customer was advised to continue with the program, he would have to bring cash to close Our customer communicated that this was not an option for himServices were rendered for the appraisal, and the customer signed an Appraisal Deposit Agreement The Appraisal Deposit Agreement states the specific reasons in which a refund would be applicable Our customer executed this document on October 11, The refund is not warranted, and we notified our customer that we respectfully denied his request on December 13,

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 Loandepot deny my request to refund me 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 I did not agree for the rate to increase up to 4%You need to provide me some evidence on how I "agreed"In fact, I express my dissatisfaction on the option I was given Regards, [redacted]

Attached is the Letter of Explanation regarding this complaint.Thank You.San Diego Revdex.com Complaint #: [redacted] Borrower Name: [redacted] [redacted] Complaint Date: 5/18/ Borrower’s Complaint Filed with the Revdex.com: This company started the process to refinance my mortgageAfter giving them everything they requested and paying for the appraisal, they have just left me hangingNo refinance was completed and no legitimate reason was givenThey just quit communicating with me Borrower’s Desired Resolution: Either finish the refinance or refund the appraisal ($295) because anywhere I go to refinance I am going to have to pay for their people to do an appraisal loanDepot Findings and Response: loanDepot sincerely apologizes that Ms [redacted] ’s experience with loanDepot so far has been anything less than satisfactory and in relation to the communicationAfter a review of the file, Ms [redacted] ’s loan team and management have been working with her to get the loan approvedFurthermore, since the loan is still active, a refund of the borrower’s $appraisal deposit is not warranted at this time Should Ms [redacted] have additional concerns, she may contact loanDepot’s Customer Care Department at [redacted] ext***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 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 $Thank you so much [redacted] [redacted] Love is never convenient and rarely ever painless Regards, [redacted]

loanDepot sincerely regrets that you feel that there were communication issues between the borrower and loanDepot in regards to the refund of the appraisal depositAlthough the appraisal deposit is non-refundable if an appraisal has been completed on the property, which was completed on January 25, 2016, the appraisal deposit of $has been refunded back to the borrower’s [redacted] credit card ending in on February 24, as a gesture of good faithThe transaction ID number is [redacted] In regards to loanDepot pulling credit times for this borrower, loanDepot had to re-pull credit and do a rapid rescore to verify if the disputes that were on the borrower’s credit were removedIn order to proceed with the loan, the disputes had to be removedFurthermore, the borrower executed the Credit Inquiry Explanation letter on January 20, where she acknowledged the following: “During the loan application process, we continually monitor your credit activity and will request an updated credit profile and/or pull a new credit report prior to closing.” In conclusion, loanDepot apologizes that the borrower’s experience has been anything less than satisfactoryThe borrower’s appraisal deposit in the amount of $was refunded back to her on February 24, Furthermore, loanDepot had to re-pull credit to verify the disputes that were showing on the borrower’s credit have been removed in order to proceed

We appreciate the opportunity to respond to our customers concernsWe have conducted an internal review of the loan processProviding uncompromised service to our customers is a priorityWe would like to clarify any misunderstandings.All lenders are required to use an outside company to complete the appraisals on their customers We are not allowed to influence any part of the appraisal process We understand that every customer has a certain assertion about the value of their home Home ownership is something to feel proud about, and that carries a lot meaning for people There are so many factors that go into determining the value of a property Several factors, often beyond the control of both the customer and the lender, can affect the value We use only reputable appraisal companies, with licensed appraisers, to provide quality to our customers We understand that our customer did not agree with the value of the appraisal result We offered the appeal option to our customer The appeal was declined and no change was made to the original result The Sales Manager called our customer to go over the appraisal and the appeal results in detailDuring this call, the customer requested the refund of the appraisal deposit because she was taking her business elsewhere Her request was declined because services had been rendered The customer advised that she wanted to cancel her application The Sales Manager complied with the customer’s request and closed out the fileOur customer can have her FHA appraisal report transferred to another lender if she wishes, it is her discretion We regret that our customer was not satisfied with the appraisal results We hope this does not deter her from reaching out to us in the future to assist with her financial needsIf additional information is needed, contact our Customer Care Team at [redacted] , Ext***, Monday to Friday, 8:00AM to 5:00PM Pacific Time

As stated in the initial response, Mr [redacted] was pre-approved based on the information Mr [redacted] provided at the time of applicationThe borrower alleges that the Licensed Loan Officer stated that they "missed the alimony," but there is no viable evidence that supports this allegationHowever, please know that a Final Approval is not guaranteed until the file has been reviewed by Underwriting, and this loan was never Final ApprovedUpon 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

San Diego Revdex.com Complaint: [redacted] Borrower Name: [redacted] E [redacted] Complaint Date: March 13, 2017Borrower’s Complaint Filed with the Revdex.com:Two issues exist, the authorizing of services, and the changing costs of servicesWe attempted a homeloan with Loan DepotAs is common, an appraisal was called for, and performed on 4MarInstructionshad been given that an appraisal was to be done as the absolute last step once all of the other possiblecauses for not issuing a product had been exhaustedThis was demonstrated by turning one appraiseraway at the doorstep, and the numerous times products were reviewed by the company to pass a meanstestThe loan ultimately failed on a means test, based upon an issue of a solar lease on the property,which the company was well aware of, and provided a copy of that lease well before they ordered anappraisalSo either instructions were disregarded, or the means testing was not done properly prior toordering the appraisal, and we are stuck out of pocketThe second issue regards the shifting cost of thatappraisalWe were recorded verbally at a cost of $We agreed on paper that it should not exceed$End cost was $We do not understand why the price shifted either.Borrower’s Desired Resolution:We desire a refundIt was an unneeded service based on the desire to close instead of completing as perinstructedThe company ordered the service, and we had no problem delaying to ensure properprocessing.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 customersloanDepot is a company that takespride in the integrity of our processesTheir concerns are valid to us, and we want to thank you for theopportunity to address them.There is no substantial evidence to support the customer’s allegation that they disclosed the SolarPanels Lease Agreement at the time oforiginationThe customer was conditionally pre-qualified basedon the information that was received at the time of applicationA pre-qualification is not a commitmentto lend and is subject to change based upon receipt of information that may alter itThe finalcommitment would require satisfaction of all underwriting conditionsBased on the information anddocuments received while the loan was in process, the loan was ultimately Decline on March 06,2017The document titled “Appraisal Deposit Agreement” was executed on February 03, whichauthorizes loanDepot to collect an Appraisal Deposit of $As disclosed in the agreement, refunds areissued if appraisal services were not renderedOur records show that the property inspection wascompleted on March 02, 2017, and a copy of the appraisal report was sent via email on March 06, 2017respectfully deny the request for a refund of the appraisal deposit.After an internal review of the call recordings between Ms [redacted] and the Licensed Lending Officer,there is substantial evidence in which the Licensed Lending Officer stated that the appraisal depositwould be $As such, we have issued a reimbursement of the a credit of $50.We sincerely apologize that the customer felt their experience with us was anything less thansatisfactory .Here at loanDepot, we are committed to the highest standards of integrity in all ourbusiness practices, and regret that we could not help them achieve their financial goals

San Diego Revdex.com: [redacted] Consumer Name: [redacted] Complaint Date: July 28, Consumer Complaint Filed With Revdex.com: May 7th we started the refinance process with Loan DepotAt that time we submitted all paperwork requiredWe locked into a fix rate until 6/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 roofOnce the appraisal was done on 5/16, we were supposed to hear from our Account Managerdays later, I had to reach out to our Loan Officer asking why I haven't heard anythingOur 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-daysI finally e-mailed my Account Manager on 6/since I didn't hear from her (again) and found out that she needs copies of our drivers license, which I e-mailed that dayShe told me that she would send everything back to underwriting but would take days because they are backed upI immediately told her that was concerning since my rate lock expired 6/and that would take us to 6/We didn't get the approval until 6/contingent on the final underwriting approval and would be contacting us within 48-hours to review the final items neededOn 6/I e-mailed my Account Manager again asking when I would hear from her since it's been more than hoursI didn't hear back from her until 6/saying hopefully she'll be contacting me today, which she didI received a Loan Depot disclosure on 7/and the Notary came to our home on 7/to sign all docs so it would fund by 7/I didn't receive funding notification so on 7/I get a call from my Account Manager saying "I have really bad newsI calculated the loan docs wrong so we need to redo and have you resign at 5:30pmWe 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 PAIDLast heard that funds will be wired tomorrowhorrible nightmare Consumer Desired Resolution: I want an apology letter sent to my old lenderRefund for all accrued interest since 6/and some sort of compensation for the anxiety suffered thru the entire processI also had to pay over $when we signed the first set of incorrect docs because of another error made by Loan DepotI honestly don't know what would make me want to EVER do business with them againSomething that was supposed to take weeks STILL isn't done weeks later! loanDepot Findings and Response: loanDepot is committed to the complete satisfaction of our customersThe concerns of our customers are taken very seriouslySurpassing their level of service expectations is priorityWe pride ourselves on working with the highest level of integrity in all facets of our processesWe have dedicated prompt attention to the concerns noted in the customer’s complaint and appreciate the opportunity to clarify any misunderstandingsOur goal as a company is to assist customers in realizing their financial dreamsWe understand that the complexities of the Lending industry can be very daunting at timesOur Licensed Loan Officers are experts in their respective field, and they are ready to take on any barrier to making the loan process a successRecent world events have had a major impact on mortgage interest ratesThese events have led to astounding rate advantages for consumers who are homeownersThis had a very severe impact on all aspects of loan processingThese 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 processAll lenders were faced with the challenges of staffing for industry production capacityHowever, we actively oversee the loan process at all times to ensure complianceWe were often waiting for certain items that were pertinent to move forward with the loanThe 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 expectedThis in no way should be perceived as abandoning the loan in any wayWe recognize that the customer provided everything in a timely mannerOur associates were working behind the scenes with various channels to ensure that all requirements were satisfiedloanDepot is apologetic for any inconvenience the customer encounteredOur commitment to transparency and accuracy is a testament to our tenacity in doing the right thingWe discovered that there were slight inaccuracies that needed to be adjustedWe understand that to err is human; however, we strive to provide the best quality and service to our customersWe 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 lenderWe understand how important credit standing is, and how hard our customer worked for itWe are thankful for the time the customer took to alert us regarding their concernsWe are grateful for the opportunity to address their concernsWe know customer feedback is always integral to the longevity of a successful businessIf additional information is needed, please contact Customer Care at [redacted] , Extension ***, Monday to Friday, 8:00AM to 5:00PM Pacific Time Sincerely, [redacted] Customer Care Analyst

We appreciate the opportunity to revisit our customer’s concernsThe measure of our success as a business is based heavily on the feedback and experience of our customersWe make it our goal to surpass the expectation level of service with each customer.Our staff is committed to help our customers realize their financial goalsWe review various programs, and do everything within our scope to find the perfect program for our customersMany factors can influence the loan processOften, it can change the pricing and terms of the original programWe do not endorse coercion at any level, and the customer is given ample time to review the options we have presented to themThe customer always has the choice to cancel, if they do not agree with the terms.Appraisals are completed by a licensed appraiser, chosen from an unaffiliated appraisal management companyMortgage lending laws prohibit the lender from selecting an appraiserWe regret to hear that the customer did not agree with the appraisal.The surplus in the escrow account for the previous loanDepot loan was applied to the payoffThe netting of escrow funds towards the payoff balance is allowable when refinancing with the same lender.We trust the foregoing information as well as our prior response, effectively addresses the customer’s concerns

Hello,Please see the attached response to complaint number [redacted] .Thanks,San Diego Revdex.com Complaint #: [redacted] Borrower Name: [redacted] Complaint Date: 8/11/2015Borrower’s Complaint Filed with the Revdex.com:LOAN DEPOT , [redacted] CALLED ME AND MADE IT SOUND LIKE I HAD THE LOAN RIGHT UP TOTHE MINUTE SHE $FOR LOAN PROCESSING AND THEN $FOR APPRAISALI THINK LOAN DEPOTSHOULD CREDIT MY CHECKING ACCOUNT WITH MY $NOWTHANK YOUThen [redacted] hassomeone else call me and tell me I wasn't approved due to my incomeI am a senior citizen living on afixed income of $state retirement and $after Medicare $= $So my total income is$plus almost $I earned from Express Professionals last year (2014) and a little less from theyear before (2013)I ALREADY MAKE PAYMENT OF $A MONTH ON MY HOUSE NOTETHE NOTEWITH LOAN DEPOT WOULD HAVE BEEN AROUND $NOW IF I HAVENT MISSED A NOTE OF $875, ISURELY WOULDNT MISS A NOTE OF $I PAY MIY HOUSE NOTE ON THE 3RD OF EVERY MONTHWITHOUT FAILI THINK YOU ALL SHOULD CREDIT MY CHECKING ACCOUNT WITH MY $NOWTHANKYOUI TRUSTED LOAN DEPOT.NOW WHAT I WANT TO KNOW IS WHY IS IT LOAN DEPOT ALLOWS YOU TOPAY UP FRONT LOAN PROCESSING FEES AND $FOR APPRAISAL WITHOUT FINDING OUT IF THE LOANIS GOING TO GO THROUGH? THIS IS MONEY I HAD TO BORROW AND NOW HAVE TO PAY BACKI THINKLOAN DEPOT SHOULD CREDIT MY CHECKING ACCOUNT WITH MY $NOWTHANK YOUI TRUSTEDLOAN DEPOT.THIS ISN'T THE FIRST TIME THAT LOAN DEPOT HAS DONE THIS TO PEOPLEI HAVECHECKED WITH THE Revdex.com AND IT SHOWS NUMEROUS COMPLAINTS REGARDINGTHE SAME PROCESSSHAME ON LOAN DEPOT FOR TAKING ADVANTAGE OF USA CITIZENS WHETHERTHEY ARE SENIOR CITIZENS OR JUST PLAIN EVERY DAY WORKING PEOPLEBELIEVE YOU ME I HAVE TOLDMY FAMILY AND FRIENDS ABOUT LOAN DEPOT.Revdex.com Accredited Business since 11/4/THANK YOUBorrower’s Desired Resolution:I THINK LOAN DEPOT SHOULD APPROVE MY LOAN OR CREDIT MY CHECKING ACCOUNT WITH MY$NOWTHANK YOUI TRUSTED LOAN DEPOT.I WILL EMAIL YOU SUPPORTING DOCUMENTS.loanDepot’s Borrower Complaint Summary:Borrower states that she was lead to believe the loan was approved until she was charged for theappraisal deposit fee of $Borrower states dissatisfaction with the services receivedBorrower claims loanDepot has taken advantage of a US citizen loanDepot Findings and Response:After a review of Ms [redacted] ’s loan, the borrower was initially locked in to a 5.125% FHA Fixed 30Year loan on March 12, loanDepot sent your welcome package on the same day with allrequired documents to be executed prior to the processing of the loan product chosen As a customer concession, Ms [redacted] was only charged $200, rather than $for the purpose ofan appraisal fee which is collected by credit cardPrior to collecting this fee, loanDepot evaluates thecustomer’s needs and determines if they have a loan product that will help the customerThecompany conducts an extensive screening process on the phone with the customer to collect dataand find the proper program that will fit the customer’s needsloanDepot then emails the customerinformation about moving forward with the loan Ms [redacted] executed the Appraisal Fee Agreement on March 17, where she acknowledged:“The Appraisal Fee of $is non-refundable if an appraisal has been completed on the subjectpropertyIf an appraisal has been completed on the subject property and you cancel yourapplication, you will not receive a refund of this appraisal feeIf your application is declined, even ifthe appraised value is not what you expected, and an appraisal has been completed, you will notreceive a refund of this appraisal depositThe appraisal deposit will be held in trust until eitherrefunded to you, if applicable, or withdrawn to pay the appraisal management company.”Based off of this and because the appraisal was completed, a refund of $is respectfully declined.Attached is the completed appraisal report for Ms [redacted] ’s property.In conclusion, loanDepot sincerely apologizes that Ms [redacted] ’s experience with loanDepot wasanything less than satisfactoryWe attempted to assist Ms [redacted] with her loan request as much aspossible, but ultimately the loan was declined due to debt to income ratio on April 28, Based off ofthis and according to the terms executed on the attached Appraisal Fee Agreement, a refund of $isnot warranted Should Ms [redacted] have any additional questions or concerns, he may contact the Customer CareDepartment at [redacted] ext***Representatives are available to assist her Monday throughFriday from 8am to 5pm, PST

We are committed to our customersThey put their trust of a better financial future in our handsThere are times that the loan process can pose many challenges to our customer’s patienceOur goal is to work with the customer to make it a smooth process for themRegretfully, we understand that the customer has felt frustration in finding a way to lower their mortgage paymentsWe apologize for any difficulties our customer may have experienced in their attempts to reach our Loss Mitigation DepartmentWe know that homeownership is important to many families, and we are very sorry for the loss of their loved oneWe sincerely regret any misunderstandingsOur customer mentioned that they are in an area prone to storms, and flooding This can add to our customer’s worries, and we want to alleviate any stress for our customerCustomer Service is our priority at all timesAccording to our records, the customers were previously granted disaster forbearance on August 30, 2016, which was extended to July 1, This was the reason they were denied for a modification on April The customer was not denied for any other reason, it was due to already being on an active forbearance plan However, when the forbearance plan ended, they were reviewed for a loan modification within daysThis resulted in an approved modification trial planThe customer was informed August 17, that they were approved for a FHA Standard Modification trialThe trial period offers payment relief, and ensures that the customer can manage the new paymentsTrial payments of $1,are due on October 1, November 1, and December 1, The existing loan terms remain unchanged during this trial period If the trial is successfully completed, and the customer’s remains eligible, a modification agreement will be sent Once the loan is modified, the interest rate will be fixed for the life of the mortgage.loanDepot will always do the right thing for the customer We have taken the steps, to address any opportunities to improve communication, going forward with our associates and the customersWe are grateful for the chance to help the customer in any way possibleIf additional information is needed, the customer may contact our Loss Mitigation Workout Department at (877) 420-

We appreciate the opportunity to respond to our customers concernsOur customer’s APR never changed from the agreed 5.375% It is recorded that our customer agreed to that percentage, and before this complaint to the Revdex.com, customer did not mention what she feels is a discrepancy with the APR The loan estimate and lock rate disclosure, show the percentage of 5.375% as agreed by the customerWe do have an executed Appraisal Deposit Agreement This document advises about the amount of the deposit, and that by executing this document, the customer consents to the appraisal deposit being debited from the card number they provided Our customer mentioned that she was already working with another lender, and decided to cancel the loan The Licensed Lending Officer did submit the cancellation, however, his request was inadvertently processed the business day afterRefunds take approximately business days from cancellation to process We refunded the customer the appraisal deposit refund of $ As a gesture of good faith, and for the customer inconvenience, we also refunded the $credit bureau fee We did not hang up on the customer, and she was promptly called back the same day, as well as emailed that we were going to call her After a verbal conversation on the phone with the customer to advise of the refunds, customer indicated she was satisfied with the refunds we provided her She was asked if there were any other issues to address to which she responded no We respectfully deny the customer’s request for compensation, beyond the appraisal deposit and credit bureau fees we have refunded her alreadyWe consider this matter resolved

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] s

San Diego Revdex.com Complaint: [redacted] Borrower Name: [redacted] Complaint Date: 12/27/loanDepot File: [redacted] Borrower’s Complaint Filed with the Revdex.com: This complaint is towards Loan Depot for the negligence and apathy towards me during the loan processThis problem spans six monthsOver and over again they told me the loan was going through, over and over again their procrastination cost me the loanThey approved me in June and I provided everything neededI was completely upfront about the use and condition of the houseAfter a problem with the inspector hired everything was to close mid Aug when they returned saying the house wasnt occupiedI had clearly stated that at the startsaid it had to be a second homeDuring this time I bought a house to fix and flip They re did the loan and ran my creditEnd of august denied because of my corporations standing with the stateDidnt know why that matter since this was a personal loan, but I corrected the problem that dayMid Sept nothing, just a response of soonMid Oct they ask for my returns because I had extendedI provided immediately but because of difference in income they denied the loanIf they had done their job in July august and sept that should have been an issueReorganize the loan, run my credit againThey say a couple weeksMid November get a call from [redacted] saying my loan was denied due to negligence on my first officers mistake ( [redacted] ***) for not certifying the loanI say this needs to happen, what has to happen [redacted] then says "Oh I guess we can do it" weeks Then they ask about the house I have for saleI explain itThey say 12/for close12/comes and goes without a word from themI have to reach outI hear from ***, Just a couple more daysCouple days later I am denied for fraud for having another houseLoan Depot strung me alongThey constantly asked for information provided, constantly delayed to cause more issues and times denied my loan, of the times reversingI own both house outright, is on the marketThere's no fraudI was forced to take on a high interest loanComplaint Product/Service: Refinance loan Purchase Date: 6/15/Problem Occurred: 7/21/Borrower’s Desired Resolution: I would like the $spent on the inspector back in JulyI also feel entitled to a month for the time they wasted and the bind they put me in because of promises$They're lack of due diligence should not be my emergency but it seems to beI am completely at a loss for their lack of empathy and the fact that they cannot see that they have a responsibility to not take on someone as a customer if they can't provide in a timely matterIf this loan had gone through when it was promised, I would have not had the other house and I would not have the high interest loan, I would not have had to submit the new tax return, and I would not have had to have my credit run timesAll of which have knocked my credit to the point where I cant get a refi nowLoanDepot Response: loanDepot began the loan process for Mr [redacted] on June 23, for their property located at [redacted] ***loanDepot evaluates the customer’s needs and determines if they have a loan product that benefits the customer loanDepot conducts an extensive screening process on the phone with the customer to collect data and find a loan program that will fit the customer’s needs At the time of origination, the customer was offered a conventional rate and term loan, at 3.75% which was locked in for days as a primary residenceDuring the process of the loan, loanDepot discovered that, Mr [redacted] purchased the at [redacted] which recorded on 8/1/As such, loanDepot restructured the loan as a second home per the customers’ request with the same 3.75% rate After further review, there was not enough substantial evidence to support the property as their second home Due to this, the loan was restructured as an investment property with a rate of 4.5%Regretfully, the loan was declined on December 21, 2016, as the customer no longer qualified loanDepot did not profit from this loan application as we incurred expenses and losses on the borrower’s behalf that exceeded the $amountWe ordered an appraisal report, title reports, and were subject to additional costs on other services rendered We respectfully decline Mr [redacted] compensation of that $ Furthermore, the customer executed the Appraisal Deposit Agreement on June 23, where the customer 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 performedIf 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 strives to complete all business in a timely and efficient manner It was unfortunate we were not able to complete the refinance for the customer loanDepot does is not obligated to compensate the customer for the length of time the loan was in process We respectfully decline Mr [redacted] ’s compensation of $9, The customer signed the Authorization to Release Information on June 23, The customers’ signed document gives the lender blanket authorization to request the information needed to obtain the customer’s creditworthiness Authorizing the lender to order a consumer credit report and verify other credit information, including past and present mortgage information and landlord references loanDepot reserves the right to run credit throughout the loan process loanDepot apologizes for Mr [redacted] ’s experience and regret that we were unable to assist him with his financial needsIf he has any further questions or concerns, he may contact loanDepot’s Customer Care Department at ###-###-####Representatives are available to assist Monday through Friday from 8am to 5pm, PSTTell us why here