LoanDepot

Attached is the Letter of Explanation regarding this complaint.Thank You. San Diego Revdex.com Complaint #: [redacted]Borrower Name:    [redacted]Complaint Date:    8/24/2015Borrower’s Complaint Filed with the Revdex.com:I started our loan application on May 8, 2015. After 2 months of...

PROCESSING, nothinghad happened. Again, on my effort I contacted [redacted] asking about the processing. Iwas again told that it was the loan had been SUSPENDED by underwriting. TheRESTRUCTURE team would be in contact. Well, it is August and I have informed LoanDepot to cancel our application! I informed [redacted] that I have never been treated sodisrespectfully by anyone. I had even call the CUSTOMER SERVICE OFFICE AND SPOKEWITH [redacted]. Service still did not improve. All that was accomplished was an appraisalthat no onE else will honor.I REQUESTED MY $$ BACK. NOTHING. This entire experiencewas more than disappointing. It kept us awake at night with no answers. Our local creditunion approved our loan within 1 week and we close in 30 days. IF YOU ARE LOOKINGFOR A MORTGAGE...DONT DO IT HERE! I READ THE REVIEWS ON LINE AND EVEN TOLDTHE LOAN APPLICATION PERSON I WAS GIVING THEM A CHANCE ANYWAY....BOY WAS IWRONG. STAY AWAY! HOW DO THESE PEOPLE KEEP THEIR SATISFACTORY RATING? JUSTBY RESPONDING TO THE Revdex.com? I EXPECTED BETTER.Borrower’s Desired Settlement:REFUND OF APPRAISAL FEE IMMEDIATELY. ($200)loanDepot’s Borrower Complaint Summary:1. The borrower states that her loan was in process for 2 months and feels that she was disrespected.  2. The borrower is requesting a refund of her $200 upfront appraisal deposit.  loanDepot Findings and Response:1. loanDepot sincerely apologizes that the borrower feels disrespected by loanDepot as that was neverour intention. After a review of the file, the borrower’s loan had debt-to-income (DTI) issues thatneeded to be addressed and overcome, and loanDepot attempted to assist the borrower in everyway that we can in overcoming said issues. Due to the borrower’s qualifying FICO score, themaximum DTI was 43%, and it was discovered in process that the borrower opened new creditaccounts which exceeded the debt that was originally supposed to be paid off. Furthermore, theborrower filed for bankruptcy in 2013 and had derogatory credit history since that bankruptcy asrecent as May 2015. As such, the loan had to be reviewed and scrutinized more closely byloanDepot’s underwriting department, and the borrower was subject to provide additionaldocumentation regarding the bankruptcy as well as 12 months of cancelled checks to support themortgage payment history, 2 months of their most recent bank statements to cover the fundsneeded for closing, and other documentation. Ultimately, the borrower did not provide all of thenecessary documentation to satisfy the conditions and close the loan, and her loan was cancelled onAugust 18, 2015 per the borrower’s request.  2. Ms. [redacted] was charged $200 for the purpose of an appraisal deposit collected by credit card.Usually, this charge would be $395, but a customer service concession for Ms. [redacted] was approvedto only collect a reduced deposit of $200. Prior to collecting this fee, loanDepot evaluates thecustomer’s needs and determines if they have a loan product that will help the customer. Thecompany conducts an extensive screening process on the phone with the customer to collect dataand find the property program that will fit the customer’s needs. loanDepot then emails thecustomer information about moving forward with the loan.  The borrower executed the Appraisal Deposit Agreement on May 12, 2015 where it wasacknowledged:“The Appraisal Deposit of $200.00 is non-refundable if an appraisal has been completedon the subject property. If an appraisal has been completed on the subject property andyou cancel your application, you will not receive a refund of this appraisal deposit.”Because the appraisal was completed and the Appraisal Deposit Agreement was executed, a refundof that $200 is not warranted. By signing and returning said agreement, the borrower acknowledgedthat she read, fully understood and agreed to the terms and conditions set thereof. The appraisalalone totaled $425 in where loanDepot had to cover the remaining balance. Attached are theAppraisal Deposit Agreement and the full Appraisal report with invoice.  In summary, loanDepot apologizes that Ms. [redacted]’s experience with loanDepot was anything less thansatisfactory and that she felt disrespected. There were DTI issues on the borrower’s loan in whichloanDepot exhausted all resources to help her overcome. Due to the borrower’s credit history, the loanhad to be reviewed more closely and was subject to additional documentation to strengthen the loan.Ultimately, the borrower did not provide all the documentation needed and withdrew from the loanapplication. In regards to the $200 appraisal deposit, a refund is not warranted as services wererendered with the appraisal and the borrower executed the Appraisal Deposit Agreement which statesthe deposit is non-refundable. loanDepot did not profit in any way on this transaction as we weresubject to additional costs such as the remaining balance of the actual appraisal, credit reports,underwriting fees, etc.

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.
We provided all documents requested on a timely bases.  They drag this loan on for months.  We just refinanced with another company and it happened in 2 weeks.  The lady that was second on the loan supposedly fell and hurt herself.  The gentleman that was handling the loan got his desk moved and lost our papers.  We felt we were being stringed along and not closing.  They make you pay the fee up front so if you do not close they tell you tough luck.  The BB has many complaints the same as ours which shows how the conduct business.  Other companies when the say there will be no closing cost honor that statement.  This company said they were so busy they could not take care of our loan on a timely basics.  We were told 2-3 lies during our experience.  They are a very poor company.  Please check your records.
Regards,
[redacted]

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

Date:                               11/18/2015
Borrower’s Complaint Filed
with the Revdex.com:
Everything is a recorded conversation when talking to Loan
Depot. That being said, the Sr. Account Manager II "[redacted]"
confessed on the phone to us that she had made a mistake by making an
"Executive Decision" on our behalf without our consent or knowledge
to NOT INCLUDE 9 months of home insurance into the closing cost of our loan,
she said the reason why she did it was to give us more money on the cash out
check. She also apologized via email for this mistake that should've been
caught from upper managing department but was not. Unfortunately, all paper
work has been processed and we are RESPONSIBLE TO PAY THE HOME INSURANCE FOR
THE NEXT 9 MONTHS $92 LAST PAYMENT ENDING ON JULY 2016. After that LOAN DEPOT
WILL BE RESPONSIBLE FOR PAYING THE HOME INSURANCE FOR THE FOLLOWING YEAR
STARTING AUGUST 2016. We have brought this matter up for review all the way up
to the VP who has just apologized via email for the mishap but there is nothing
they can do to credit us for their mistake. We feel that a further investigation
needs to be done because it is UNFAIR. The whole purpose of refinancing the
loan was to get the property tax and home insurance INCLUDED but now they tell
us that we have to pay $1647 mortgage + $78.59 homeowner insurance + $423.25
property tax payable to LOAN DEPOT + an additional payment of $92 to [redacted]
Home Insurance (by the way [redacted] INCREASED the premium on us because
originally Loan Depot said they will be paying for it, then they realized they
did not have enough money to do so after escrow was finalized, so they called
[redacted] and told them to make us responsible for paying the next 9 months).
Just doesn't make sense that we have to pay TWICE FOR HOME INSURANCE. ONCE TO
LOAN DEPOT THEN AGAIN TO [redacted]. We have all documents on email that LOAN
DEPOT admits the mistake they did but won't pay for it. Not to mention all
calls were recorded.
Borrower’s Desired Resolution:
We would like a full report from the owner of the company
(the CEO) on how something like this can pass thru the quality control of the
reports being reviewed. We would like all the names of the people involved on
who reviewed the numbers and signed off with their approval. The reason why we
want to know names is because we want the CEO to be aware of how his employees
are treating the senior citizen customers. This is our first time doing
business with this company and we would NEVER RECOMMEND THEM TO OTHER PEOPLE
EVER. BECAUSE THEY HAVE PROVEN TO BE INCOMPETENT AND DO NOT PAY ATTENTION TO
DETAILS. When it comes to a $345,000 loan we want to feel we can TRUST this
company with our money and sadly we did and now have to pay a penalty for it.
The cash out was used to repair the roof and if they would've told us verbally
to use some cash out money to pay off [redacted], it would've helped but instead
we got harassed by [redacted] for being behind on payments for statements we
never received 
loanDepot’s Borrower Complaint Summary:
1.       Borrower states dissatisfaction with the loan
process.
2.       Borrower claims that their home owners insurance
was not included in the loan.
loanDepot Findings and Response:
1.     
loanDepot apologizes for the
dissatisfaction in service received and the communication issues between him
and loanDepot. This will be researched and addressed internally with personnel.
2.       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.

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.

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.

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]

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.

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 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

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.

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].

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

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.

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 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]

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]

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.

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]

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

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.Just...

letting you know the company reimbursed my $390 back for my appraisal fee as requested, so case can be closed.
Regards,
[redacted]