LoanDepot

San Diego Revdex.com Complaint #: [redacted] Borrower Name: [redacted] Complaint Date: 11/3/ Borrower’s Complaint Filed with the Revdex.com: On 8/8/a Loan Depot Representative contacted me regarding refinancing my homeI initially declined, but after some discussion, I agreed to the refinance because I was told that my home would be sure to make appraisalI was charged $to have my home appraisedThe appraisal came back a couple thousand dollars less than what was needed for the refinance package I had been quotedThe appraisal report had errors and Loan Depot refused to correct them, instead they offered another refinance package which carried a higher interest rate and higher feesI attempted to dispute this with Loan Depot and asked that they review the recorded conversations between the lender and I, but they never returned my callsI disputed the amount with my credit card, but they told me that the fee was "non-returnable." In the end, I am out $because I refused their higher rate packages which were offered to me after the appraisalI believe Loan Depot pulled the classic "bait and switch" scheme to lure me into a more complicated loanI am seeking to be reimbursed the $ Borrower’s Desired Resolution: I want to be reimbursed the $appraisal fee loanDepot’s Borrower Complaint Summary: Ms [redacted] states that she agreed to refinance because she was assured that her property would make the required appraised value However, when the appraisal report came in, the value came back lower than expectedThe borrower states that there were errors on the appraisal report, and loanDepot refused to correct the errors Ms [redacted] states that loanDepot offered her another refinance package which carried a higher interest rate and higher fees Ms [redacted] states that there were communication issues between her and loanDepot Ms [redacted] is requesting a refund of $as she claims she was a victim of “bait and switch.” loanDepot Findings and Response: After a review of loanDepot’s systems, there appears to be no viable evidence to support the borrower’s claim in that loanDepot assured her that the property would make the required appraised value to do the loanloanDepot has no control over the appraisal process and cannot choose which appraiser to conduct the inspectionThe appraisal process and inspection must be done independently as to ensure there is no bias or predetermined value or agendaThe impartial local/certified appraiser (valuation expert) completes the appraisal based on the most similar and best data available in the marketloanDepot has no reason to believe that an appraisal completed by an unbiased, impartial local, licensed expert is incorrectIf the borrower feels that there were errors on the appraisal report, she has the right to dispute the value of the appraisal, and she can initiate the process with her loan originations team Ms [redacted] came to loanDepot on August 5, A program was identified, and her loan was locked into a Conforming Fixed year loan on this same dayAt the time of application, it was agreed upon between the borrower and her Licensed Lending Officer that the appraised value of her property was $248,with a loan-to-value ratio (LTV) of 84.879%With this estimated value of her property, loanDepot would be able to do the loan for Ms [redacted] that contained the initial terms and pricing quoted to Ms [redacted] at the time of applicationHowever, when loanDepot received the appraisal report on August 18, 2015, which was completed by an impartial local/certified appraiser that loanDepot has no control over the appraisal process as stated above, the value of Ms [redacted] ’s home came back at $211, This caused her overall LTV to increase in where she no longer qualified for the initial program and terms offered to herIn attempt to still help Ms [redacted] financially, loanDepot informed her that a new program was identified with taking into account the $211,appraised valueThe program did contain a higher rate and increased fees than what was initially quoted at the time of application; however, this was because this new loan program was based off the actual appraised value of $211,She expressed that she did not want to move forward with the new loan program offered to her, and as such, loanDepot respectfully declined her file on August 25, due to low property value loanDepot sincerely apologizes to Ms [redacted] in regards to the communication issues between her and loanDepot staffThis will be researched and addressed internally with management loanDepot regrets that the borrower feels as she was a victim of “bait and switch,” but no evidence was found to support this claimMs [redacted] was charged $for the purpose of an appraisal deposit collected by credit cardPrior to collecting this fee, loanDepot evaluates the customer’s needs and determines if they have a loan product that will help the customer The company conducts an extensive screening process on the phone with the customer to collect data and find the property program that will fit the customer’s needsloanDepot then emails the customer information about moving forward with the loan The borrower executed the Appraisal Deposit Agreement on August 6, where it was acknowledged: “The Appraisal Deposit of $is non-refundable if an appraisal has been completed on the subject propertyIf an appraisal has been completed on the subject property and you cancel your application, you will not receive a refund of this appraisal depositIf your application is declined, even if the appraised value is not what you expected, and an appraisal has been completed, you will not receive a refund of this appraisal deposit.” Because the appraisal was completed and the Appraisal Deposit Agreement was executed, a refund of that $is not warrantedBy signing and returning said agreement, the borrower acknowledged that she read, fully understood and agreed to the terms and conditions set thereofThe appraisal alone totaled $in where loanDepot had to cover the remaining balance In conclusion, loanDepot apologizes that Ms [redacted] ’s experience with loanDepot was anything less than satisfactoryThe appraised value of the property came back lower than expected, thus increasing the over LTV of the property, which in turn caused the pricing of the loan to changeThe borrower has the best understanding of what the property is worth, and at the time of application, it was estimated that the value of the property was $248,However, the actual value came back at $211,We attempted to still help Ms [redacted] with another loan program, but she decided she did not want to move forward with the new loan programAs such, the loan had to be respectfully declined because Ms [redacted] no longer qualified for the initial terms presented to her at the time of applicationIn regards to that $ refund, it is not warranted due to the appraisal being completed and the borrower executing the Appraisal Deposit AgreementloanDepot 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, ran credit reports, title reports, and were subject to additional costs on other services rendered

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 never had any loan types in mind when we contacted them they told us they would see what loan would be best for usthe amount would be depending on the appraiser and what we don't want we would send back to them and it would be taken off the loanOn the repairs the A/C was the only item that was questioned because it was just replaced last year and the appraiser didn't know how to operate the unit so she said it didn't work when she inspected it so it would need to be replaced so I talked with her and the state and they both advised us that they were not to inspect those items in a house and that a home inspector would be neededso I talk to loan depot about it they said not to worry about it and just fix the other repairs and we did that so I don't know how then can say that we didn't fix themwe were advised that they were going to send out the appraiser to verify but they never did thatso I had called serval times to find out what was going on with the loan cause we would not here anything from them I was advised that the amount that we wanted was not enough for them to do anything and if I wanted the loan to go though then I would need to pull more and I told them I didn't want to do that so the next day I received a call and was advised that they were not going to fund cause their was no prof that the repairs were done and that I had to contact there contractor and pay them for the inspectionsI received calls after all of this wanting me to accept more money and could just send back what I don't use or don't want and it would come off the loan amount and we would get our fundingI advised them I didn't want to do that cause the payment would not change and that the payment would be higher and they said it would be the same payment amount as to pulling a smaller amount Regards, [redacted]

loanDepot sincerely apologizes to Ms [redacted] regarding the communication between her and loanDepot and that she felt she was lied toHowever, after a thorough review of our systems, there appears to be no viable evidence that supports this claim Should Ms [redacted] have any further questions or concerns, she may contact loanDepot’s Customer Care team at [redacted] ext*** Representatives are available to assist Monday through Friday from 8am to 5pm, PST

loanDepot is committed to working with the highest level of integrity and transparencyOur goal is always to surpass the level of expectation of service for our customersWe have conducted a review of the circumstances of the complaint, and we are grateful for the time to clarify any misunderstanding.In an effort to assist homeowners with mortgage refinance options, loanDepot periodically contacts consumers using telephone numbers and mailing addresses we receive through website referralsConsumer contact information is obtained through public sources or voluntary information entered using a lead aggregator.Oftentimes, consumers are unaware of the process when entering personal information into an aggregator website, to obtain quotes for refinancingMost mortgage lead aggregators disperse information to various lenders to contact the consumer and offer their servicesAt loanDepot, we do take pride in upholding the laws governing solicitation and marketing practicesWe will conduct an internal investigation and address any excessive calls that are discovered.We have taken the necessary steps to cease the calls to the customerloanDepot sincerely regrets any inconvenience the customer may have encounteredWe have added the customer’s contact information to our Do Not Solicit registry to prevent future marketing efforts.loanDepot takes all customer concerns seriously and we utilize feedback as an opportunity to enhance the experience for our customersWe hope that this one time unfortunate experience does not hinder the customer from reaching out to us in the future for financial assistance.If additional information is needed, our Customer Care Team can be reached directly at (888) 337-6888, ext***

Please see the attached Letter of Explanation and supporting documentation regarding this complaint.Thank YouSan Diego Revdex.com Complaint #: [redacted] Borrower Name: [redacted] *** Complaint Date: 4/17/ Borrower’s Complaint Filed with the Revdex.com: I started a refinance with the company in JanuaryThey started a second file, in errorShortly after, I was charged $395, to my knowledge, associated with the second file, that they closedAnd never informed me they were going to chargeIt took nearly days of leaving messages to finally speak to a live personI was connected to [redacted] ?, the person who was assigned to process the original file, explained the situation, and she stated not only were they going to issue a refund, but they were going to fast track it, I should seed the credit in approximately weekNearly days later, I still haven't received the credit, and when I called back today, I was on hold for nearly minutes, transferred times, and the last person I spoke to stated I wasn't due a refund, even though they stated I was due a refund Borrower’s Desired Resolution: I want the credit [of $395] they promised me loanDepot’s Borrower Complaint Summary: Borrower claims that there were communications issues between him and loanDepotHe also states that loanDepot started another application in error Borrower claims that he was never informed that he was going to be chargedBorrower is requesting for a refund of $ loanDepot Findings and Response: loanDepot sincerely apologizes if the borrower felt that there was miscommunication between him and loanDepot personnelHis concerns have been escalated to managementIn regards to starting a new loan application in error, loanDepot apologizes if this has caused any confusion to the borrowerThis was shortly rectified, and loanDepot was able to continue the refinance process with the application that started in January Mr*** was charged $for the purpose of an appraisal deposit collected by credit cardPrior to collecting this fee, loanDepot evaluates the customer’s needs and determines if they have a loan product that will help the customerThe company conducts an extensive screening process on the phone with the customer to collect data and find the proper program that will fit the customer’s needsloanDepot then emails the customer information about moving forward with the loan As stated earlier, Mr*** executed the Appraisal Deposit Agreement on January 28, where he acknowledged: “The Appraisal Deposit of $is non-refundable if an appraisal has been completed on the subject property If your application is declined, even if the appraised value is not what you expected, and an appraisal has been completed, you will not receive a refund of this appraisal deposit.” At the time of application, Mr*** stated that his home’s value was approximately $130,However, when loanDepot received the appraisal that was ordered on Mr***’s home, the actual property value was $119,which pushed his loan-to-value (LTV) ratio up to about 85%This negatively affected his loan because it surpassed the maximum LTV allowed per the initial loan termsBased off of this and the Appraisal Deposit Agreement that Mr*** signed, the refund of $is not warrantedAttached is the full Appraisal Report that was done on Mr***’s property In conclusion, loanDepot sincerely apologizes that Mr***’s experience with loanDepot was anything less than satisfactory and in regards to the miscommunication between him and loanDepotWe attempted to assist Mr*** with his loan request as much as possible, but the appraised value came back lower than expected, causing us to respectfully decline his loanBecause the appraisal was completed and Mr*** executed the Appraisal Deposit Agreement, a refund of the $is not warrantedloanDepot did not profit in any way on this transaction as we were subject to additional costs such as credit report, underwriting fees, etc Should Mr*** have additional questions or concerns, he may contact the Customer Care Department at [redacted] ext***Representatives are available to assist Monday through Friday from 8am to 5pm, PST

Please see attached Letter of Explanation Thank You.San Diego Revdex.com Complaint #: [redacted] Borrower Name: [redacted] Complaint Date: 10/27/2015Borrower’s Complaint Filed with the Revdex.com:I have a mortgage on my primary residence ( [redacted] ** ***)Account number [redacted] with Loan DepotMy loan agreement with loan depot is thatmy Taxes & insurance are escrowed in my monthly paymentsAccording to the terms of myLoan, Loan Depot escrows our taxes and pays our property taxes as requiredLoan Depot hasfailed to pay my property taxes as scheduled and my taxes are now past due and the countyhas assessed late fees and is demanding me to pay the full tax bill of $5,by December3rd Loan Depot has my escrow account and is making money off the interest ofholding my escrow and has refused to pay my property taxesI have contacted them on 3occasions and each time they tell me that it takes days to resolve tax issuesMy firstcontact with loan Depot was over days ago and they have failed to return any calls or topay my property taxesI provided loan depot with a tax bill on September 25th for $2,635.49,and then again on October 22nd with a new bill for $5,I am attaching both delinquenttax notices along with a screen shot of my Loan Depot Escrow account showing that theyhave not paid any property taxes for me in ThanksBorrower’s Desired Resolution:To pay my tax bill of $5,plus all late fees immediately loanDepot Findings and Response:First and foremost, loanDepot sincerely apologizes for the inconvenience that this has caused Mr [redacted] andthat his experience with the servicing of his loan has been anything less than satisfactory so farAt loanDepot,we take pride in ensuring our customer’s satisfactionIt is very important to us that we meet our ownexpectations of excellent customer serviceYour concerns will be utilized as a training opportunity with ourstaff, and your business and feedback are greatly appreciatedHere at loanDepot, we are constantly lookingfor ways to improve our internal processes, and it is absolutely essential that we be aware of our company’sperformance.After a review of loanDepot’s systems, it has been determined that Mr [redacted] ’s taxes, as well as the penaltyfees, have been paidAgain, loanDepot apologizes for any inconvenience that his has caused Mr [redacted] .Should Mr [redacted] have any further question or concerns, he may contact loanDepot’s servicing departmentdirectly via phone at [redacted] or via email at [redacted] The hours ofoperation for Servicing are from Monday through Friday, 5:00am to 5:00pm, Pacific Time

Please see attached response to complaint # [redacted] .San Diego Revdex.com Complaint #: [redacted] Borrower Name: *** *** Complaint Date: 6/5/ Borrower’s Complaint Filed with the Revdex.com: We have an ongoing Insurance Claim Issue with our Mortgage Company, Loan Depot.ComWe had a water leak in our kitchen March 5, We filed an Insurance claim with our Insurance Company which was handled promptly and a check in the amount of $11,was sent to us to co-endorse and send to LoanDepot.com claims department at the Loss Draft Department *** [redacted] *** [redacted] ** ***We then waited over month for LoanDepot.Com claims to "process" the funds and send the Contractors stated fee (after submitting an out of pocket deposit) in the amount of $2,on April 30th, Once the check was received, the necessary repairs to the house were completed, an Inspection Ordered by Loan Depot Claims was completed with 100% Repair Completion affirmed and processed by Loan Depot on May 26th, We are now attempting to have LoanDepot.Com claims department either disburse the remainder of the funds directly to us, or in lieu of that apply the funds to our mortgageThey have refused to do either and are simply withholding the funds for an unknown reasonFor reference, our Loan Depot AcctNumber is [redacted] , and our Insurance Claim number with Loan Depot is [redacted] Throughout this process, we have met resistance, hostility, and ignorance in settling this matter from Loan Depots Customer Service and Claims departmentPlease help us resolve this matterThank You*** *** *** ** [redacted] *** [redacted] ** *** Borrower’s Desired Resolution: We would simply like to have the balance of our claim money disbursed to us or applied to our mortgageWe don't understand why neither of those outcomes hasn't already occured and why Loan Depot is deliberately stalling this process and treating us in a hostile manner loanDepot’s Borrower Complaint Summary: Borrower claims that loandepot refuses to apply funds to his loan or disburse overage from filed insurance claim loanDepot Findings and Response: After further review, Mr*** in fact provided the required documentation to process his requestHowever, upon his initial draw request loanDepot received a “revised bid” that did not reflect the same information that was submitted with his initial documentationloanDepot contacted the borrower to advise an updated bid was needed to process his requestloanDepot received the requested information from Mr*** on April 27, and FedEx the initial draw on April 28, Mr*** contacted loanDepot on May 5, to advise that the company completing the work needed, no longer had the materials to complete the job and the check that was sent to Mr*** on April 28, was no longer validMr*** then requested the process for sending funds directly to him so he may purchase the materialsMr*** was advised on May 5, that he would need to send in a quote for the materials needed loanDepot received Mr***’s request to have the restricted escrow funds applied to his delinquent mortgage on May 15, Mr*** was advised at that time that we could not process the request without a 100% complete inspection result on the repairs to his homeAn inspection was ordered and scheduled for May 22, at Mr***’s availabilityloanDepot received notice that the inspection had been rescheduled from May 22, to May 26, at the request of Mr*** Mr*** contacted loanDepot on May 26, inquiring of the next steps after inspectionloanDepot advised Mr*** that once the inspection results were received from the inspector, loanDepot would process the release of the final drawMr*** requested at that time to have some of the funds applied to his mortgage loanDepot received the 100% inspection results on May 28, and informed Mr*** that the inspection results had been received and would take – days to processOn June 2, 2015, Mr*** was advised that we required a written request to have funds applied to his mortgageloanDepot received Mr***’s written request on June 2, and sent for processingIn conclusion, loanDepot has processed Mr***’s request to have a partial draw from his restricted escrow to bring his loan current as the loan is due for April 1, Due to Mr***’s loan becoming delinquent, the final draw has been delayedThe funds post within – days upon receipt of written request and loanDepot will release the remaining funds from the restricted escrow to Mr*** Should Ms*** have any additional questions or concerns, he may contact the Customer Care Department at [redacted] ext***Representatives are available to assist her Monday through Friday from 8am to 5pm, PST

San Diego Revdex.com Complaint #: [redacted] Borrower Name: [redacted] Complaint Date: 2/10/ Borrower’s Complaint Filed with the Revdex.com: We are in the process of refinancing our hoome loanWe have multiple bids and we decided yo lock in an interest rate through loan depotWe had not signed any papers locking us in with themThey pproceeded to take the agree from our account and then, without our authorization, took an additional for an appraisal of our homeWe knew if we went with them we would have to come up with this money, but they did not get authorizationI may file a legal claim, but at the very least, this is bad practiceNot okayo g it with us caused us to bounce many billsWe would have never authorized this be for the 15th Borrower’s Desired Resolution: I want the appraisal fee credited back to my account and I want the overdraft fees paid by this company or I am goiing to look into legal recourse loanDepot Findings and Response: We understand that the satisfaction of our customer is essential to maintaining a successful businessOur core values compel us to do the right thing for our customersloanDepot is a company that takes pride in the integrity of our processesYour concerns are valid to us, and we want to thank you for the opportunity to address them loanDepot received a lead source on January 25, for Mr [redacted] primary residence at [redacted] ***As such, loanDepot reached out to Mr [redacted] on January 29, to discuss loan optionsMr [redacted] expressed interest on a Conforming Fixed year loan Mr [redacted] was charged $fee for purpose of credit report and executed the Appraisal Deposit Agreement on February 08, authorizing loanDepot to charge $for the Appraisal Deposit We have issued a reimbursement of the appraisal deposit for the amount $due to services not rendered, after the customer decide not proceed with loan applicationIf the customers have any further questions or concerns, please feel free to contact me directly at (949) 595-

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 closingI questioned all the other bad reviews when he kept saying we can close this in - daysHe claimed that was because they were doing so many at that timeThey can't find the evidence because they have probably erased the recorded tapes of [redacted] Pugh saying these things to meI am not making this upI should have known they were just another company taking advantage of Seniors, Disabled Veterans, and any one else they canIf I have a Lien on my property how could I have just gotten a Home Equity Loan for $21,from [redacted] They are lying about everythingI 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 LoanWhere 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 moneyThe Loan won't be approvedWhere 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 are so incompetent that they did not responded to my last email that we sent themThey just sent the same response as before This company are a bunch of liars and thieves They should be brought up on charges for what they are doing to innocent people They robbing them blind and taking their last monies that they have I am going to write to the Attorney General of the state they are located and tell them what loan depot is doing Regards, [redacted]

Attached is the Letter of Explanation regarding this complaint.Thank YouSan Diego Revdex.com Complaint #: [redacted] Borrower Name: [redacted] ***, *** Complaint Date: 8/19/2015Borrower’s Complaint Filed with the Revdex.com:I recently was refinancing my home thru an fha loan which loan depot pre approved meforAfter an fha inspector came out and made me paint my garage and reside it,spending thousands of dollars to do so, and working hoyr days all summer to get itdone, by myself, since I spent every dollar I had on tools and materials necessary to dothe work, the inspector came back and said it was goodWell, after spending mofe andmore time sending documents to them, the lady I was working with was 100% uselessIexplained to her and another guy from the get go my situation, and they said yeah noproblem, thats fineFast forwards a few weeks, I get an email saying im approvedI sendin the rest of the documents, then last week I get a rate lock form to signI signed it, sentit back and a couple days later, right before we were supposed to close I was declined.Even tho it already went thru underwriting and they said I was APPROVED, which I haveevery phone call and email documented, they changed their mindA little while ago itdawned on me why I was declined, the form they sent was confusing, and they tried toget me to check the adjustable rate mortgage instead of the fixes rate whi h we AGREEDAND SIGNED ON previouslyThis awful company screwed me out of thousands of dollars,and hours upin hours of my summer, which I could have been working overtime butnope, had to fix DUMB unimportand [redacted] on my hoyse to get this loan doneThanks tothem my kids got screwed out of a vacation and I got screwed out of time offBorrower’s Desired Resolution:I am seeking compensation for the materials that I had to buy and my labor for fixing thehouse $6,000, it is stuff I wouldnt have bothered with otherwise, and also for monthsof insurance I had to have and due to their incompetance I have to pay forThey lied tome and [redacted] my family out of all the money we had, this is nothing less than FRAUD,which I can 100% proveloanDepot’s Borrower Complaint Summary:The borrower made repairs on the property for a loan he ultimately did not receive The borrower received an email informing him that he was approvedThe borrower stated that right before he was supposed to close his loan, he was declinedHe isunder the impression that the reason why he was declined was in regards to a confusing form inwhich he claims loanDepot requested him to accept an “adjustable rate mortgage” as opposed tothe fixed rate loan for which he had originally applied The borrower is requesting compensation for loanDepot’s errors and is claiming fraud loanDepot Findings and ResponseAs will be discussed further in #below, the approval that was communicated to the borrowerwas a conditional oneOne of the conditions was the repairs on the borrower’s propertyrequired for the type of loan for which the borrower was conditionally approvedIt wasultimately the borrower’s decision to proceed and make the necessary repairs on the propertypursuant to this conditional approvalThe repairs on the borrower’s property would have beenneeded for any lender doing an FHA loan for him, and would not have been solely a loanDepotrequirementAlthough loanDepot was not able to approve his loan, the borrower does continueto get the benefit of having a repaired property while he resides there and ultimately this shouldbenefit him should he decide to pursue a refinance in the future The borrower received a conditional approval emailWhat this means is that the loan’s “finalapproval” was contingent on the conditions specified by loanDepot’s underwriting department.The repairs on the property along were among the conditions listed in the conditional approval,and satisfaction of these conditions was needed to get final approval on the loanUntil a loanhas received a final approval, loanDepot cannot guarantee that the borrower will get the loanItwas never communicated to the borrower that his loan was final approved Based off a review of loanDepot’s systems, loanDepot did not decline the borrower’s loan due toits status as an adjustable rate mortgage or a fixed rate mortgageAccording to loanDepot’sreview, it did not request or steer the borrower to select an adjustable rate mortgageTheborrower’s loan was never priced as an adjustable rate mortgage, and has always been listed asa fixed rate mortgageFederal disclosures were also sent out to the borrower that reflects afixed rate loanDepot has made many attempts to find a mortgage for which Mr [redacted] might obtain finalapprovalInitially, it was communicated to the borrower that loanDepot could not do the loanbecause Mr [redacted] was not the party making payments to the mortgage as his great-grandmother was the one making the mortgage paymentsDue to this loanDepot was unable toproceed with a “cash-out” refinance as Mr [redacted] had requested However, loanDepot has researched whether a “rate and term” refinance was acceptable forthis loanThe fact that Mr [redacted] was not making the mortgage payments from his own accountcould have been overcome in a rate and term refinanceAfter further research, loanDepot wasunable to do a rate and term refinance for Mr [redacted] as he needed cash-out from thetransaction in order to pay approximately $15,in unpaid taxesIf the back taxes did notexist, Mr [redacted] may have qualified for a rate and term refinanceAlthough the borrower didbring up the $15,in unpaid taxes towards the beginning of the application process, hecommunicated that this amount would not be present at closing as he claimed that he waspaying for the taxesIt appears that what Mr [redacted] meant was that he was taking over futuretax paymentsIt wasn’t until later in the process that the borrower informed loanDepot that theapproximately $15,reflecting on the existing mortgage Loan Statement was in fact backtaxes that his great-grandmother never paid on the property prior to him taking over the taxpayments loanDepot regrets that the borrower feels he was a victim of “fraud,” but loanDepot attemptedto assist and help the borrower as much as we could with his mortgage refinance goals and werebasing qualification on the information supplied and communicated to us by the borrowerAs acustomer service concession to the borrower, which normally would not be warranted sinceservices were rendered and the appraisal was completed, a full refund of the borrower’sappraisal deposit in the amount of $was successfully processed on August 28, to the [redacted] ending in ***The transaction ID number is [redacted] In terms ofcompensation for the repairs on the property, this is not warranted as the borrower is gettingthe benefit of the repairs, these repairs would have been needed on any loan for which theborrower applied, and the approval communicated to the borrower was a conditional one In summary, loanDepot sincerely apologizes to Mr [redacted] in that his experience with loanDepot wasanything less than satisfactory in regards to the miscommunication between him and loanDepotTheborrower’s loan was never final approved, and final approval was contingent (among other reasons) onthe repairs on the property which the borrower ultimately chose to completeAs mentioned above,these repairs would have been required for any lender with which the borrower chose to pursue arefinanceAfter further review, loanDepot could not do a loan for the borrower due to a combination ofthe borrower not making the mortgage payments on the property and the approximately $15,inback taxesloanDepot exhausted all resources to try and approve this loan, but was unsuccessfulAs acustomer service concession, a full refund of $was issued to the borrower

It is with great concern and regret that we received this complaint about the appraisal transfer and lack of communicationloanDepot takes these matters very seriouslyWe appreciate the time the customer took to alert us regarding their concernsOur core values compel us to constantly reach for the highest level of customer service possibleOur records show that the appraisal report was transferred, and a Supervisor reached out to the customer on May 17, In addition, we have taken steps to conduct an investigation regarding the breakdown in communication and will address any training opportunities internally.We are grateful for the opportunity to respond to this complaintIf additional information is needed, please call our Customer Care Team at (888) 337-6888, ext***, a.mto p.mPacific Time, Monday through Friday

Hello,Please see attached response to complaint ID [redacted] .Thanks,San Diego Revdex.com Complaint #: [redacted] Borrower Name: [redacted] Complaint Date: 9/16/2015Borrower’s Complaint Filed with the Revdex.com:I received a solicitation in the mail from loanDepot.comIt quoted an interest rate of 2.375% and has a (1)disclaimer, but not disclaimer is actually disclosed on the noticeI called to get a quote for an FHA streamlinerefinanceI reached [redacted] He read a disclosure that there will be no steering (of me towards a product)Hegathered all my information, ran my credit and then quoted me a Lender Paid MI Conventional of 4.5%He quotedan effective rate on my current loan of 5.5% with the MIThat is a deceptive practice since he knew that my currentloan included FHA MIP; which as a mortgage consultant should know that MIP is eligible for termination after 5years (not life of loan)He then hesitated to quote me a rate for an FHA Streamline refinance and said the LenderPaid MI is my best optionAfter pushing more to quote the streamline refinance, he then quoted an FHA loan of4.5% for years (ran it based on my original loan amount, not my current balance)He was absolutely steering meinto the Lender Paid MII believe he was being deceptive and misleading.Borrower’s Desired Resolution:I would like an investigation into loanDepot for deceptive practices and steeringI would like todiscontinue receiving any solicitations by mail and phone from loanDepot loanDepot’s Borrower Complaint Summary:Borrower claims that loanDepot attempted to steer her towards a particular loanBorrower request to no longer receive any contact or solicitation from loanDepot.loanDepot Findings and Response:After a review of Ms [redacted] ’s loan application, the borrower was initially quoted for bothConventional Lender Paid Mortgage Insurance and FHA Streamline loan on September 16, TheLicensed Lending Officer explained the benefits and costs for a Conventional Lender paid MortgageInsurance loan by informing Ms [redacted] that this loan product would not require points to be paidto obtain the interest rate of 4.5% all the while diminishing her current Mortgage Insurance costs.The LLO informed Ms [redacted] with this loan product, loanDepot would be paying the MortgageInsurance in addition to the quoted savingsAt that time, Ms [redacted] further inquired about otherloan products available she may qualify for, specifically information pertaining to an FHA Streamlineloan product The LLO continued by providing the possible benefits for an FHA Streamline product.In reviewing said loan product it was discovered that this particular loan type would only save Ms[redacted] approximately $a monthThe Licensed Lending Officer then advised that this wouldnot meet the requirement of reducing the payment by 5%, thus disqualifying Ms [redacted] for an FHAStreamline loan loanDepot apologizes that Ms [redacted] felt she was steered to a specific loan product, howeverloanDepot quoted all loan products that Ms [redacted] was interested in and qualified for loanDepot has added Ms [redacted] ’s information to the Do Not Mail and Do Not Call list so that sheno longer receives any communication from loanDepot as requested In conclusion, loanDepot apologizes that Ms [redacted] felt she was steered to a specific loan product,however loanDepot quoted all loan products that Ms [redacted] was interested in and qualified forWeattempted to assist Ms [redacted] with her loan request as much as possible, but we were unable to meetMs [redacted] ’s financial needs Should Ms [redacted] have any additional questions or concerns, she may contact the Customer CareDepartment at [redacted] ext***Representatives are available to assist her Monday throughFriday from 8am to 5pm, PST

Attached is the Letter of Explanation and supporting documentation regarding this complaint.Thank YouSan 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 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, However, on that credit report, there were no day late payments, andMs [redacted] was able to qualify for the refinanceWhen we pulled a credit supplement to update themortgage rating while the loan was in process after the March 27, date, it reflected a day latepayment for the month of AprilAs stated in the initial response, it is the borrower’s responsibility tostay current with their monthly financial obligationsloanDepot’s stance remains the same in that arefund of Ms [redacted] ’s deposit of $is not warrantedAttached is the Credit Supplement that reflectsthe day late payment for the month of April

We understand that the satisfaction of our customer is essential to maintaining a successful businessOur core values compel us to do the right thing for our customersloanDepot is a company that takes pride in the integrity of our processes After internal review in regarding the of the Property Taxes not paid, the customer will not have been able see the additional parcels due to field limitationsHowever, CoreLogic is tracking the additional paymentsTo ensure we are collecting for the additional parcels, We have updated the tax line amount to cover parcels [redacted] We have updated the tax line amount to cover parcels [redacted] On March 20, 2018, the payment was sent by FedEx overnight tracking number [redacted] and delivered to the Tax Authority off on March 21, On April 5, 2018, SE called Tax Authority and spoke to [redacted] who confirmed [redacted] are paid current and next installment is due May Our Servicing Deptindicates that the tax line amounts were updated to reflect the five parcels associated with the propertyThe customer was notified of that additional parcels were paid on March 16, In regarding the customer not receiving return phone call as requested, loanDepot will address this matter internally [redacted] We apologize that Ms [redacted] experience with loanDepot was anything less than satisfactoryShould the consumer wish to further discuss, they may reach out to (877)420-Tell us why here

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]

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 It is irrelevant how the loan estimates changed after the appraisal I think I am due reimbursement because I paid the appraisal deposit based on information received over the phone from Loan Depot, and it was paid before receiving the first loan estimate document The first and all subsequent loan estimates showed costs that were thousands of dollars greater than what we agreed to over the phone when I paid the appraisal deposit I first noticed the discrepancy prior the the appraisal service, and when I contacted Loan Depot, I was again given information that Loan Depot would cover the closing costs displayed in the loan estimate Rather than cancel the appraisal, I chose to proceed with the process based on this information Although the appraisal service that I paid for was received, it was Loan Depot that required this service, not myself, and I agreed to pay for the appraisal based on information Regards, [redacted] ***

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this proposed action would not resolve my complaint For your reference, details of the offer I reviewed appear below Regards, [redacted] First , loan depot solicited me and assured me that I would qualify for the type of refinance that I wantedI have emails supporting this2) I specifically stated I would only consider a new loan at the quoted rate without a co signer 3) Based on the info / documentation you had it was communicated that I was qualified4) loan depot stated that this was a no income verification process , I was told loan depot was getting $2,from the government for this loan 5) loan depot was given personal financial data ( sent by certified mail not screen shot) and continually claimed they did not receive the same data over and over In addition they continually asked for information that was on my fathers application that they already had in hand Then I was harassed demanding more personal information which they claim they needed to try and get a refi loan that had already been informed at the beginning that I told them I didn't wantLoan depot after telling me there was no income verification notified my employment requesting the informationThe gist of my complaint is that Loan depot uses unfair trade practices by claiming to offer a product , lower interest rate, no co signer required no income verification when they knew I would not qualifyTheir response to Revdex.com stated that they were trying hard to get me a loan when I told them from the beginning that I did not wantAt no time did loan depot ever tell me that I did not qualify for the loan they originally offered meThey sent correspondence congratulating me which is contradictingI had to track down the sales manager only to be told that the loan officer who originally contacted me was " allegedly" no longer with the company After the original loan officer correspondence was not answered repeatedlyI did not respond to loan depot after Brian Kelly ( manager ) responded to me, admitting there was wrong doing on loan depots part however rudely ended the conversation telling me " it is what it is" and there was nothing I could do about the unfair practices I was victim to( hopefully conversation is recorded as stated on the phone ) this is a classical Bait and switch misrepresentation by Loan Depot Please note this may be sent to Attorney Generals Office as well

Please see the attached Letter of Explanation regarding this complaint.Thank YouSan Diego Revdex.com Complaint #: [redacted] Borrower Name: *** [redacted] Complaint Date: 6/11/ Borrower’s Complaint Filed with the Revdex.com: To whom it may concern, It appears Loan Depot spent the first paragraph explaining why the delay was my faultAnd the second paragraph apologizing for the communication issues These two are not mutually exclusiveThe delay (in part) was caused by Loan Depot not returning voicemails and emails in a timely mannerIn addition, to Loan Depot not following up in a time frame that was acceptable Again, if I am such a bad credit riskwhy would it take three months to tell me that? The value I stated for the home at the time of the application was an "average case" senario guess based on the properties I have seen sell IN my county ( [redacted] ) in recent weeksThe appraiser brought the home value in at a very low number comparing to properties that have recently sold in the county (Fannin) north of meThe appraisal takes precident over any guess I providedI am not the expertThis example had nothing to do with the delay of the loan processThe loan was changed based off the new value and we were still on trackOnce the loan reached the hands of the *** ***, Senior Acct manager, is when the delays mounted For example, Mr*** asked for a letter from my CPA stating the business funds in the business account would not in any way effect the business by using them as month reserve for the loanAfter some delay from my CPA, I provided the letter on a Monday morningThe following Thursday NIGHT (eastern time) Mr*** called me back stating he somehow deleted the email from his inbox and requested me resendNow I appreciate him being honest about the loss of the document, but I don't appreciate losing ANOTHER week because 1.) He had not sent the document to underwriting in days and 2.) He lost a document that took me a LOT of work to provideThis is a rookie mistakeThis caused delay Another example of delay would be the muliple times Mr*** asked me to resend documents I had already sentI asked him at one point in an email if he liked giving me busy workI followed that with, "Mr*** I work two full time jobsI would appreciate not being given busy workOnce I send a document I expect that document to be in a place that is easily obtainable on your end"This is a rookie mistakeThis caused delay I have many many more examples like the two aboveExamples not involving the lack of communication, but poor follow through with business activitiesThese examples are NOT in any way related to how credit worthy I was to Loan Depot AFTER my Revdex.com complaint Loan Depot came back to me with another optionIt's a stretch for them to say it was "beneficial"It added another $8k to my principal, another years to the term of the loan I am currently in, AND raised the paymentThey threw me a grenadeI declined the offerIn part because it was a bad deal for me, and secondly because (as I stated this in my decline email to Loan Depot) I had no faith after such a recent bad experience that Loan Depot would follow throught with anythingTherefore, the later offer from Loan Depot was n I was honest about my past credit issues in February when the loan process started and Loan Depot pulled my creditThere was never any hidden information, as that would be extremely hard in loan process so arduous and detailed in natureIf I was so unworthy of credit, again, I wonder why it took three months to arrive at that decision The resolve I asked for was Loan Depot take some sort of ownership over the problems I experienced when dealing with themIt appears they have notThey apologized for the communication issues and I accept thatHowever, I regret they don't feel those issues lent more to the delayThey have not taken any responsibility for the three months of my life I spent on holdTheir reply does not resolve my complaint I would be glad to provide all email transactions as well as my personal records and logs of conversations at any point that becomes necessary Regards, *** [redacted] loanDepot Findings and Response: As stated in the initial response, loanDepot sincerely apologizes that Mr [redacted] ’s experience with loanDepot was anything less than satisfactoryThe issues that Mr [redacted] expressed in regards to his SrAccount Manager have been addressed with management and handled internallyWe are not deviating from taking ownership of the mishaps that occurred for Mr [redacted] ’s loan, but only explaining what also happened during Mr [redacted] ’s refinance At loanDepot, we take pride in ensuring our customer’s satisfactionIt is very important to us that we meet our own expectations of excellent customer service, and we are appreciative of Mr [redacted] ’s escalation as his concerns will be utilized as a training opportunity with our staffHere at loanDepot, we are constantly looking for ways to improve our internal processes as it is essential that we be aware of our company’s performance to ensure that every customer we serve is a happy customer We have established responsible lending and customer service as our core valuesShould Mr [redacted] have additional questions or concerns, he may contact our Customer Care Department at [redacted] ext***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]