LoanDepot

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 and supporting documentation regarding this complaint.Thank You. San Diego Revdex.com Complaint #: [redacted]Borrower Name:    [redacted] Ann [redacted]Complaint Date:    6/10/2015Borrower’s Rebuttal Filed with the Revdex.com:Loan Depot has had my credit report since the first day of this transaction.  Why was this not'noticed' at that time instead of two months later.  I have also spoken to [redacted] and theyhave said that I was never more than 30 days late for my mortgage payments.loanDepot Findings and Response:Ms. [redacted] is correct in stating that we had her credit report since the first day of the transaction whichis dated for March 27, 2015. However, on that credit report, there were no 30 day late payments, andMs. [redacted] was able to qualify for the refinance. When we pulled a credit supplement to update themortgage rating while the loan was in process after the March 27, 2015 date, it reflected a 30 day latepayment for the month of April. As stated in the initial response, it is the borrower’s responsibility tostay current with their monthly financial obligations. loanDepot’s stance remains the same in that arefund of Ms. [redacted]’s deposit of $395 is not warranted. Attached is the Credit Supplement that reflectsthe 30 day late payment for the month of April.

Please see attached response to complaint # [redacted].San Diego Revdex.com Complaint #:  [redacted]  Borrower Name:   [redacted]  Complaint Date:  ...

6/4/2015  Borrower’s Complaint Filed with the Revdex.com:  I had be...⇄ Borrower requesting a refund of the appraisal deposit fee.   2. Borrower concerned with the lack of communication from LD reps.   lo...⇄ loanDepot apologizes that Mr. [redacted] felt like there were communica...⇄ After a review of Mr. [redacted]’s loan, the borrower was initially�...⇄ Mr. [redacted] provided a settlement agreement on May 17, 2015 regardi...⇄ Contrary to what the borrower stated above in being charged $400, he�...⇄

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

1/17/2018                           Borrower’s Complaint Filed with the Revdex.com:   [redacted] from Loan Depot called me to offer a quote on a home loan. During the conversation, he asked me some information he needed to run my credit report but never asked me if he had my permission to run my credit report at that time. Then, he abruptly put me on hold and ran my credit without my permission. I was only asking for a quote, not going through the application process and never granted him permission to run my credit during that call.   Borrower’s Desired Resolution:   I would like the Loan Depot to inform all the credit reporting bureaus that [redacted] made an inquiry into my credit without permission and those inquiries need to be removed.    loanDepot Findings and Response: We understand that the satisfaction of our customer is essential to maintaining a successful business. Our core values compel us to do the right thing for our customers. loanDepot is a company that takes pride in the integrity of our processes.   loanDepot received a lead source on January  17, 2018 for Mr. [redacted]’s primary residence at [redacted]. As such, loanDepot reached out to Mr. [redacted] on January 17, 2018 to discuss loan options.   After a review of the call that took place with loanDepot’s Licensed Lending Officer, we have determined that it was not a proper verbal authorization was obtained from Mr. [redacted] to run their credit in order to verify their credit worthiness to qualify. As such, the credit inquiry is not valid and will be removed.    If the customers have any further questions or concerns, please feel free to contact me directly at [redacted]

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

our associates to be subject matter experts in their respective fields and we hold them to a very high standard of conduct. We understand that customer service is an integral factor in the success of our company, and surpassing the expectations of our customers is priority. We regret that the customer was unsatisfied with the refinance process.We understand that the customer was informed that he would receive a credit for the escrow account balance on the previous loanDepot mortgage. The surplus in the escrow account was applied towards the principal balance; which reduced the refinance amount for the customer new loan. The netting of escrow funds towards the payoff balance is allowable, and is a consistent practice when refinancing with the same lender. We apologize for any miscommunication that may have occurred.After careful review of the loan process, it was determined that the customer’s loan was completed accurately and within compliance standards. The loan program initially offered was based on information received verbally. Regrettably, the appraised value of the home came in lower than originally estimated. For these reasons, the loan program terms changed; however, the customer did receive the benefit of a lower payment and interest rate.We pride ourselves on partnering with the customers to make sure they are fully aware of all the facets of their loan process. The Licensed Loan Officer contacted the customer and explained the reasons for the changes; to ensure that the customer was on board. The customer said he would go forward with the new loan terms offered, and we funded the loan on July 31, 2017.We are thankful for giving us the opportunity to address the customer’s concerns. We hope that we have provided clarity in regards to their inquiry. We are grateful for the customer’s business and value them as our customer.

Attached is the Letter of Explanation with supporting documentation regarding this complaint.Thank You. San Diego Revdex.com Complaint #:  [redacted]  Borrower Name:   [redacted]  Complaint Date:  ...

6/1/2015  Borrower’s Complaint Filed with the Revdex.com:  I went t...⇄ Borrower states that she did not qualify for a conventional loan, and...⇄ Borrower claims that the Sr. Account Manager informed them that everyt...⇄ Borrower is requesting a refund of the $495 appraisal deposit.   loa...⇄ Ms. [redacted] came to loanDepot on March 27, 2015 to refinance her ...⇄ /> [redacted] ** [redacted]. A program was identified, and she initially ...⇄ In process, everything was looking good until it was discovered that ...⇄ Contrary to what Ms. [redacted] is stating, she was only charged $395...⇄

We appreciate the opportunity to respond to the customer’s concerns. Our goal at loanDepot is to constantly find ways to surpass the expectations of our customers. We pride ourselves on working with the highest level of integrity and transparency.We sincerely regret that the customer feels as though...

we are targeting veterans. loanDepot adheres strictly to the laws governing advertising and marketing. We confirmed with internal records that the customer was initially added to our “Do Not Solicit” registry on September 21, 2017. We have honored the customer’s request to cease direct marketing attempts however, the process of removing customer contact information can take up to 90 days to complete.loanDepot is apologetic for any inconvenience that the customer may have encountered. We know that the essential part of our business is the customer’s opinion. We are dedicated to providing the highest quality of service to our customers, and especially those who have served our country.If additional information is needed, please contact loanDepot Customer Care at (888) 337-6888.

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 and transparency...

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.We deeply regret that the customer felt unsatisfied with the loan process and the outcome of their loan application. We want to partner with all our customers in realizing their financial goals. We understand that the refinance process can be arduous. We do our best to make it a smooth process for our customers. We exhaust all efforts to get their loan approved. However, there are times that a loan decision will not be favorable for the customer due to circumstances that are out of our control. loanDepot is held responsible to adhere to strict government, and investor guidelines. Initially, the Loan Officer will discuss potential rates, and loan programs that may be available. Preliminary underwriting approval may be given, and is based on stated facts provided by the customer. The factors involved in the decision process are numerous. The customer must provide documentation to substantiate data. Information is also collected from credit reporting agencies and the title company. Upon receipt of all required information, the file is sent to underwriting.During the underwriting review, information reported to the credit bureaus did not coincide with documentation provided by the customer. We received a letter from the previous lender stating a settlement was agreed upon. The letter also stated the second mortgage lien would be released. However, the credit reporting agencies reported the second mortgage as a charge-off. Therefore, we were unable to get the loan approved for this particular loan program.In our ongoing effort to continue 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

Attached is the Letter of Explanation regarding this complaint.Thank You.San Diego Revdex.com Complaint #:  [redacted]  Borrower Name:   [redacted]  Complaint Date:   5/22/2015  Borrower’s Rebuttal:  That is their pat answer but does�...⇄

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 first thing I asked [redacted] when I saw they had taken "Deposit" he kept saying we will not use it until we are certain the Loan is going to go through and if we have used it  will be given at closing. I questioned all the other bad reviews when he kept saying we can close this in 30 - 45 days. He claimed that  was because they were doing so many at that time. They can't find the evidence because they have probably erased the recorded tapes of [redacted] Pugh saying these things to me. I am not making this up. I should have known they were just another company taking advantage of Seniors, Disabled Veterans, and any one else they can. If I have a Lien on my property how could I have just gotten a Home Equity Loan for $21,000 from [redacted] They are lying about everything. I told him I don't have money for them to be playing with and that is why every "recorded" conversation he was trying to assure me they were doing right by me! They don't know what they are doing because they have me down as getting a VA Loan. Where is the certificate that has to be pulled in order for a person to get a VA Loan? A VA Appraiser has to also do the appraisal because there standards are higher not just some person off their list to take Veterans money. The Loan won't be approved. Where are all the recorded messages now nobody can find? I hope they can sleep at night stealing from  Seniors, Disabled, and Veterans.
Regards,
[redacted]

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below...They have contacted us twice since I submitted this complaint.  I am not sure if it was just timing but a lawyer will be contacted if it continues.   To clarify... My husband did give them approval to run credit the first time.  The second time he only asked for current rates but they would not give without running credit so he said he was not interested. At no time was he told documents would be sent (no signature required)  with all his personal information.  As stated before, this practice is completely unacceptable.  They should make it clear that this information is being sent and signature should be required. We have refinanced before and other companies did require signature for delivery. I can't believe a financial business would be so careless.
Regards,
[redacted]

Please accept this as a formal response to the complaint we received from the Revdex.com regarding the aforementioned customer. The satisfaction of our customers is our top priority. We have conducted an internal review of the loan process, and would like to clarify any...

misunderstandings.During the initial process of the loan, we are going by stated facts provided by the customer. All customers who meet criteria set forth by the government and investors of the loan are conditionally preapproved. We then follow with obtaining the necessary documentation to substantiate the data that the customer provided. We also start our discovery of information through the Appraisal and Title reports. Some information must be confirmed by these reports. This provides important insight into what additional documentation is needed or clarifications. The information provided by our Licensed Lending Officer, initially, is presumed upon the information that is verbally stated from the customer. It can change once verified with proper documentation.Our Licensed Lending Officers work closely with the Sr. Account Managers in order to efficiently process your loan. This process is very common practice among lenders. We sincerely regret that the customer felt that the Sr. Account Manager did not provide the service they expected, and that there was a breakdown in communication. Our processors work diligently to prepare the file for underwriting. We will continue to review the customer’s loan file for any opportunities that could be improved with the Sr. Account Manager. We understand that initially the loan may have begun as a FHA Streamline that was to remove an individual off the loan, and add a spouse to qualify. We were verbally informed that the student loan debt was no longer owed. However, documentation was not provided that could substantiate that information. For this reason, underwriting could not approve that loan program. We wanted to help the customer achieve their financial goal; we exhausted efforts to restructure the loan. After another approach by adding a parent to the loan; however, underwriting could not get an approval. There were three liens on the property. One was satisfied, however, the others were still owed. We advised the customer that they had to be fully satisfied before we could proceed. We did not receive complete bank statements as requested; instead, screen shots of bank summaries were received. We continued to try to contact the customer; however, we have not received a response.  Our management team ensures that the customer is provided with accurate information. We apologize if the customer felt that the Production Manager of Sales did not provide the customer service expected. loanDepot is held accountable to follow the laws that govern the lending industry, we are unable to make any exceptions for required documentation. Lenders are subject to audits by the investor and government offices that survey the loan process. Due to the severe penalties that can occur if we approve a loan without showing the customers’ ability to repay, we must contact the employer to confirm income. The customer’s credit profile is affected because a credit report is necessary for all loan processes.All documents that loanDepot receives from the customer are retained digitally within our company loan origination system. We are required by federal law to retain records of loan information for seven years. To ensure that the customer’s information is not shared within our affiliates, the customer’s contact information has been added to our Do Not Call and Do Not Mail registry. We require our affiliates and subsidiaries to honor your request however, this process may take up to 90 days to complete by the federal government; however, we do not sell or share with non-affiliates. 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 for the inconvenience this
has caused Ms. [redacted] as well as in regards to the miscommunication she
received in relation to her concerns. Her concerns were escalated to management
and addressed internally.
A corrected letter was sent to Ms....

[redacted]. This
corrected letter was also sent to [redacted], the third party loanDepot
uses to pull credit, to request the inquiry be removed from the consumer’s
credit profile on all three credit bureaus. However, please know that it can
take anywhere from 30-45 days for the credit bureaus to update their systems.
Should Ms. [redacted] have additional concerns or
questions regarding this, she can reach out directly to Customer Care at
[redacted] ext. [redacted]. Representatives are available to assist 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.
Regards,
[redacted]
Not only do they have W2s and tax returns, they have four copies of state and federal tax returns for 2013, 2014,2015!  I sent them but they said that wasn't good enough, they had to be sent directly from the IRS.  Then they said the IRS rejected their form and I needed to sign another.  Then I needed to sign another form and mail it back to them.  I don't remember why.  These are simply more delaying tactics used by loan officers assigned to me, each demanding more documentation before just transferring me on to the nextloan officer.  This current assertion than I refused to comply elicits a response from me that I will leave to your imagination. oan officer.

San Diego Revdex.com Complaint #:       [redacted] Borrower Name:                              [redacted] Loan                                         ...⇄ [redacted] / [redacted] Complaint Date:                               June 21, 2017   Borrower’s Complaint Filed with the Revdex.com:   I sent in money monthly, early, to make my mortgage payments ahead of time. I started sending the payments, 1/2 every two weeks for 2 months before they notified me that I could not do that. I have gone back to paying the full monthly payments and have tried to get some of the money back that I overpaid to them and I keep being told something different every time. I have asked for an audit of my account so that they can see that I have paid in $510 more than I owed which I am not being credited for. I have called weekly for 2 months and cannot get this straightened up. There is no help there to turn to and their accounting is terrible. The sent me a check which I deposited and then they refused to pay on the check they sent me. This cost me overdraft fees and charges. They recently drew money out of my account and sent me a letter dated the same day they drew it out and they did not have my "verbal permission" as the letter stated. I need help and can't get it and I don't want to give them another dime until this is straightened out.   Borrower’s Desired Resolution:   I want the money that Loan Depot just drew out of my account returned to me, I want them to refund any and all late fees and bank fees I was charged and add the $510 of my money that they still owe me to the June payment as promised by their manager.   I WOULD LIKE TO BE REIMBURSED FOR ALL OF THE LATE PAYMENT FEES I WAS CHARGED AND THE FEE FOR THE RETURNED CHECK CHARGE FROM MY BANK SINCE LOANDEPOT MANAGER TOLD ME TO DEPOSIT A CHECK THAT HAD BEEN CANCELED.  The charge back fee was $8 on 5/30 and there was also an overdraft fee of $17 due to the balance being incorrect after the deposit was made.   I'm not sure how many late fees I have been charged.  I was assured along the way of trying to fix these errors that I would not be charged but they did it anyway.   loanDepot Findings and Response   loanDepot originated a loan for Ms. [redacted] on October 21, 2016.    Ms. [redacted]’ loan closed on December 28, 2016, and the first payment in the amount of $1004.42 was due on February 1, 2017.  Ms. [redacted]s submitted payment in the amount of $1005.00 on February 14, 2017.  Thereafter, Ms. [redacted] sent in payments in the amount of $510.00, every other Friday, starting on March, 17, 2017.  We received a total of seven partial payments from Ms. [redacted]s.  We do have a Budget Drafting Program to assist customers with making payments; however, it needs to be set up in advance for payments to be property posted to the account.        In regards to the late fees assessed to Ms. [redacted]s’ account, all late fees assessed were appropriate.  However, as a courtesy, we have agreed to waive the fees that were assessed.  The first late fee in the amount of $35.54 was credited back to Ms. [redacted]s’ account on April 26, 2017.  As a courtesy, we are also refunding the remaining late fees in the amount of $59.88   ($19.96 per month for the months of April, May and June) and the bank fees in the amount of $8 and $17.  A check in the amount of $84.88 is being processed and will be sent to Ms. [redacted]s in the next 5 business days.    loanDepot is committed to the highest standards of integrity in all our business practices, and apologize for any misunderstandings during the loan process.  If Ms. [redacted]s has any further questions or concerns, she may contact our Customer Care Analyst, Linnet Conley, at 888-337-6888 ext. [redacted]. Tell us why here...

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

Complaint Date:               4/15/2016   Borrower’s Complaint Filed with the Revdex.com: I have been attempting to get my Escrow Overage for Taxes and Insurance sent to me since early January 2016. The amount is $1,320.40. I have made in excess of 10 phone calls and spent hours on the phone working with multiple Reps and "supervisors" with no resolution. The latest Supervisor was a woman named [redacted]/ [redacted]? her Work ID is E43. I spoke with her on April 12th. She promised that she would get authorization to overnight the funds and provide me with a tracking number via Fax within the hour. It is now 3 days later and still no word from her or anyone else in her office. I called back yesterday and two separate individuals claimed they couldn't get her on the phone. I spoke with a supervisor named [redacted] ID # [redacted] and he got no resolution either. This whole fiasco is beyond ridiculous and I want my funds overnighted to me ASAP with a valid tracking number from any of the major carrier companies or Post Office. At this point LoanDepot is holding my funds and collecting interest on them for over 4 months. That's bordering on criminal behavior, but is most definitely the worst customer disservice I have ever witnessed. Borrower’s Desired Resolution: I want my funds overnighted to me ASAP with a valid tracking number from any of the major carrier companies or Post Office. As well as a formal apology for all of my time they have wasted and interest they have accumulated from my funds. loanDepot Findings and Response: Our goal at loanDepot is to constantly find ways to surpass the expectations of our customers. We pride ourselves on working with the highest level of integrity and transparency. We have dedicated prompt attention to the concerns noted in the complaint and appreciate the opportunity to clarify any misunderstandings. We understand that communication between customers and their mortgage company is essential in maintaining a good relationship. To address the incident regarding the claim of unprofessional behavior by our Customer Service Team, we want to assure you that this matter is taken seriously. We have taken the necessary steps to conduct an internal investigation and corrective action will be taken if applicable. loanDepot is sincerely apologetic for any inconvenience the customer experienced. A formal apology letter was mailed to the customer on April 22, 2016. The customer was advised that a check in the amount of $1,320.40 for the surplus escrow funds was sent overnight. We have confirmed that our parcel with tracking number 7[redacted] was delivered by FedEx to the customer’s address on the morning of April 25, 2016. We trust the customer concerns have been effectively adequately addressed. If additional information is needed, please 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 have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
Hi, I got the respond from Loandiepot regarding my complaint numa [redacted]. Istil dispute and disagree with their narrative of the events and facts that took place Loaia depot respond dated January 25,207 stated that they reviewed the phone call between [redacted] and iwhat they failed to do is tell the whole story during that phone calli told her that ifaxed approximately 100 pages through a local service and their fax (loandepot) was not working properly and I have the receipt (Exhibit 1) and they will try the next day to fax it again also istated to her that if she had reviewed whats been faxed she stated (no I have four other faxesigot today) itold her I'm concerned that we will miss the closing date and this is my second time going through this refinance she replied we have plenty of time, also was so concern I followed the phone call with an email Exhibit 2 asking C.[redacted] if she had received my fax due to loan depot fax not working properly. Also they failed to count the holiday they were closed about the time of closing date please see exhibit 3.Then after faxing all documents C[redacted] requested she emailed me that she will review them next week please see exhibit 5The receipt for faxing all the documents C. [redacted] requested is marked as exhibit 1. All the documents were requested by A.[redacted] my loan officer two times (some documents du to poor filing by them) the documents A.[redacted] received are the same ones they claim they are missing see exhibit 4 for the documents A. [redacted]e requested and received then sen my loan package to C. [redacted]. I even complaint via phone to A[redacted]e (my loan officer) about C.[redacted] not communicating on time and my concerns about the delay and missing the deadline (please see her email regarding this to A.[redacted] and a copy to me) Exhibit 7. After all this got an email that they approved my loan (see exhibit 8 please) then to my surprise all went down south because of them not me.Also they accused me cancellation of the loan never did (see email from A [redacted]e) exhibit 9 please show me the evidence. Even about two weeks ago I got a phone call about my complaint from [redacted] (she didn't leave her last name, istill have the recorded message) in the afternoon and because iwas at work she left me a message and told me basically she is handling my complaint and to give her a call which I tried the next time in which some else answered the phone([redacted]) and she told me she never called after along research and a frustration waiting period she found out that [redacted] the one who called nothere and left me the wrong phone number [redacted] so [redacted] sent [redacted] an email regarding herleaving the wrong number, [redacted] never till this time attempted to contact me. please see exhibit 6. I feel strongly with on doubt in my mind its their fault not mine iwanted to close on time and move they failed and trying to cover their failure, I hop they take a serous look at this and the evidence and the fact presented and honer our first agreement regarding this refinance. Thank you[redacted]

The Servicing department reached out to the customer to address their concerns. The Escrow check was sent on October 21, 2016 along with an Apology letter for the delay. Apology letter attached.

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 fact that Loan Depot continues to lie and say that I didn't specifically ask if we would get a refund if the loan didn't go through and that [redacted] didn't say, yes you will get it refunded is rediculous. They want me to pay to get a subpoena, if you read other reviews and complaints on Revdex.com I am not the first person with this same issue and I won't be the last.  ]
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.
The Business response does not explain why they sent out the false offer to begin with. Offering lower payments on a $116,000 loan, and stating during our conversation that it was for a shorter amount of time, is not possible. I believe it is a ploy to get people call in for the offer of low interest loans, that don't actually exist, and when the applicant is not "qualified" they then offer high interest loans to people that are actually desperate for help and would accept it because they are desperate.
Regards,
[redacted]