LoanDepot

San Diego BBB: [redacted] Consumer Name: [redacted] Rebuttal Date: September 1, 2016 loanDepot File: [redacted] Consumer Rebuttal Filed With BBB: 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. As per the terms of that agreement, Loan Depot agreed to never contact me again by any manner,ie., mail, telephone, etc. In exchange for that, I would drop the complaint. I met my part of the agreement. However, they still contact me or my wife, [redacted] ***, approximately twice a month by mail. I have sent much of it back to them with no results. Finally, I broke down and called them yesterday. The person said there was nothing he could do and just kept reminding me that they had an A + BBB rating. How they have an A+ rating is certainly a mystery to me. Any way, I want this to stop. These are, in my opinion, terrible people who do not mind harassing senior citizens. Please help me if you possibly can. All their correspondence comes from [redacted] ** [redacted] Regards, [redacted] loanDepot Findings and Response: We appreciate the time the customer took to bring their additional concerns to our attention. loanDepot is apologetic for any inconvenience the customer may have encountered. We have dedicated prompt attention to the concerns noted in the rebuttal, and we are grateful for the opportunity to clarify any misunderstandings. We understand that the customer recently received unsolicited mail of a promotional nature from loanDepot. Our records indicate that the customer was added to our do not contact registry on or about May 21, 2015. We sincerely regret that the customer felt our advertisement was sent without prior knowledge. Our goal is to always work with the highest level of integrity and transparency. In an effort to assist homeowners with mortgage refinance options, loanDepot periodically sends advertisement based on information customers enter online. A new sale lead is generated from the information entered into a search engine query or website referral; which supersedes any previous “do not contact” requests. Our Marketing Team sent solicitation in response to a lead generated on March 20, 2016 and April 22, 2016. We understand the customer is not requesting a refinance. We have concluded that there is no loan pending or completed with loanDepot under their name and property address. Additionally, no official credit bureau inquiry was made. On September 13, 2016, the customer’s contact information was placed back on our do not contact registry to ensure that we comply with their request to cease solicitation. We require our affiliates to honor the customer’s request to halt solicitation, however, this process may take up to 90 days to complete. We trust this communication addresses the customer concerns. If additional information is needed, please contact Customer Care at (888) 337-6888, Extension ***, Monday to Friday, 8:00AM to 5:00PM Pacific Time. Sincerely, [redacted] Customer Care Analyst

loanDepot’s Borrower Complaint Summary: lfo1"> The borrower claimed that there was communication issues regarding the timeframe of the loan as well as whether or not he needed an appraisal completed on his property The borrower claimed that loanDepot was stalling his loan and had no intention of getting his loan done The borrower claimed that loanDepot cancelled the application without him requesting to do so The borrower claimed that loanDepot would make him whole again if he refinanced by paying any application fees and difference in rate The borrower claimed that loanDepot did not send all of his documents back to himHe also claimed that we sent documentation for another customer that is not him The borrower claimed that he was lied to loanDepot Findings and Response loanDepot sincerely regrets that the borrower felt there were communication issues between him and loanDepot, especially in regards to the timeframe of when the loan would closeAt the time of application, the loan was priced with the understanding that both borrowers would live in the property thus making the borrowers eligible for a property inspection waiverHowever, while the loan was in process, it was discovered that the co-borrower does not live in the subject property which affected the pricing of the loan due to the occupancy and made the property no longer eligible for a property inspection waiverThis required loanDepot to request an appraisal on the subject property loanDepot apologizes that the borrower felt loanDepot was stalling on his loan and that we had no intention to get this loan doneHowever, that is never the case as we are in the business to close and fund loans On October 12, 2015, the loan was originated by his Sales teamHis team worked with him to get the initial documentation needed to send the loan to processing, and once said documentation was received, the loan was sent to processing on October 28, The SrAccount Manager assigned to the loan then reached out to the borrower on November 2, via phone and email to introduce herself, and soon after, sent the loan to Underwriting on November 10, which received a conditional approval on November 13, loanDepot sent the customer a list of the conditions that needed to be satisfied to obtain final approval on the loan, but once the IRS tax transcripts were received and reviewed, it was determined that the overall debt-to-income (DTI) was too high for loanDepot to lend upon, thus prompting the loan to go into the Restructure queue to see if we could overcome this hurdleIn an attempt to address the DTI issue, more income documentation was requested from the borrowersOver the next few weeks, the borrowers were piece sending documentation into loanDepot, but the documentation provided would still not satisfy the DTI issueThe loan never received a final approval, and on January 27, 2016, the loan was officially declined due to DTI Based off a review of loanDepot’s systems, loanDepot reached out to the borrower multiple times before declining the loan, but we were unsuccessful in getting him on the phoneThe borrower did not cancel the loan application, and he has no say when his loan gets declined which is the case hereAs stated earlier, loanDepot declined the borrower due to DTI issues as we were having trouble obtaining pertinent documentation for the co-borrower regarding his income as well as documentation regarding the occupancy of the subject propertyIn process, it was discovered on the co-borrower’s personal tax returns that he is involved in multiple partnerships loanDepot requested the business returns for any partnership the co-borrower has 25% or more ownership in and K1s for any partnership that he has 25% or less ownership inHowever, the requested documentation was not provided in a timely manner to loanDepotFurthermore, the primary borrower’s tax returns reflected numerous write-offs in which loanDepot had to take into account when calculating the incomeThis, too, contributed to the DTI issues After a review of loanDepot’s systems, there is no evidence that supports the borrower’s statement in that loanDepot will pay any application fees and difference in rate when he refinances with another lenderThis was the borrower’s demands due to his dissatisfaction with loanDepot, and we never said we would do this loanDepot sent all documents related to this transaction back to the borrowerIn regards to sending another customer’s documents to him, loanDepot found no evidence of thisHowever, we inquired with the borrower who the customer was that he claimed we sent the documentation to him in error, but he would not disclose this information to us loanDepot regrets that Mr [redacted] felt lied to, but loanDepot has been as transparent as possible to him in relation to this loan transaction In summary, loanDepot sincerely regrets and apologizes to Mr [redacted] in that his experience with loanDepot was anything less than satisfactory and that he felt lied toAt the time of application, the loan was set up with the subject property being the primary residence for both borrowers which qualified for a property inspection waiverHowever, in process, it was discovered that the co-borrower does not live in the subject property thus making the loan application ineligible for a property inspection waiverFurthermore, loanDepot declined the file due to DTI issues as we could not get the requested documentation from the borrower in a timely manner in order to support the stated incomeIt was also discovered that there were a lot of write-offs on the primary borrower’s tax returns that contributed to the DTI issuesloanDepot returned all documentation in relation to this loan transaction back to the borrower, and could not find any evidence that documents for another customer were sent to the borrowerWhen questioned, the borrower refused to provide the customer information in which he claimed was sent to him in errorPlease know that loanDepot exhausted all resources to try and approve this loan, but was ultimately unsuccessful

San Diego Revdex.com Complaint #: [redacted] Borrower Name: [redacted] Complaint Date: 1/17/ Borrower’s Complaint Filed with the Revdex.com: [redacted] from Loan Depot called me to offer a quote on a home loanDuring 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 timeThen, he abruptly put me on hold and ran my credit without my permissionI 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 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 loanDepot received a lead source on January 17, for Mr [redacted] ’s primary residence at [redacted] ***As such, loanDepot reached out to Mr [redacted] on January 17, 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 qualifyAs 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 working with the highest standards of integrity, and transparency in all our transactionsWe take the security and protection of our customers’ data very seriouslyWe ensure that our staff abides by our core beliefs of responsible lending, and operates within the laws that govern the mortgage industryWe sincerely regret that the customer felt as though their credit was pulled without authorizationOur records confirm that the necessary authorization was given, and nonpublic personal information was provided to our Licensed Loan Officer to check the customer’s credit profileOur associates are trained to disclose to consumers that we must pull their creditThis is to make the best assessment based on the customer’s creditworthinessWe must have a social security number and date of birth to obtain and review a credit historyThis is to determine if loanDepot is able to extend a loan offer with the best rates, and terms, the market has to offerWithout this personal information, and the viewing of your credit profile, we would not have been able to accurately provide the customer with a quote, without verifying the eligibility for a mortgage loanWe respectfully decline the customer’s request to remove the credit inquiryloanDepot received sufficient information to justify the inquiryIf additional assistance is needed, please contact our Customer Care Team at (888) 337-

loanDepot sincerely apologizes and regrets that the borrower felt that there were communication issues between him and loanDepot This will be researched and addressed internally with management Mr [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 customerThe 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 needsAt this time, the borrower is conditionally pre-qualified based on the information that is received from the customerloanDepot then emails the customer information about moving forward with the loan The borrower executed the Appraisal Deposit Agreement on July 30, 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.” On August 31, 2015, the borrower’s loan was respectfully declined as their debt-to-income (DTI) was discovered to be too high for loanDepot to lend uponBecause 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 he read, fully understood and agreed to the terms and conditions set thereofThe appraisal alone totaled $in where loanDepot had to cover the remaining balanceAttached are the Appraisal Deposit Agreement and Appraisal Report In conclusion, loanDepot sincerely apologizes that Mr [redacted] ’ experience with loanDepot has been anything less than satisfactory and that he felt that there were communication issuesIn regards to the $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

loanDepot is committed to the complete satisfaction of our customersOur goal is to provide complete transparency in all our transactionsWe 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 conductWe understand that customer service is an integral factor in the success of our company, and surpassing the expectations of our customers is priorityWe 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 mortgageThe surplus in the escrow account was applied towards the principal balance; which reduced the refinance amount for the customer new loanThe netting of escrow funds towards the payoff balance is allowable, and is a consistent practice when refinancing with the same lenderWe 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 standardsThe loan program initially offered was based on information received verballyRegrettably, the appraised value of the home came in lower than originally estimatedFor 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 processThe Licensed Loan Officer contacted the customer and explained the reasons for the changes; to ensure that the customer was on boardThe 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 concernsWe hope that we have provided clarity in regards to their inquiryWe are grateful for the customer’s business and value them as our customer

loanDepot sincerely regrets that Mr [redacted] experience with loanDepot was anything less than satisfactory Mr [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 customerThe 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 loanAt this time, his loan inquiry was conditionally pre-qualified based on the information that was received from the borrower, and he did not disclose any property issues regarding the subject property at that timeWhen loanDepot received the Appraisal Report, the appraiser valued the property at $118,However, this value was subject to the following: “All the peeling paint on the exterior must be removed and repainted.” As such, with the loan program attempting to be secured being an FHA loan program, loanDepot had to require the borrower to repaint the house in order to move forward Furthermore, the borrower executed the Appraisal Deposit Agreement on December 8, where it was acknowledged: “The Appraisal Deposit of $is collected in advance of any Appraisal Services being ordered or completed on the subject property If Appraisal Services have been completed on your property and you subsequently withdraw your application or yoru application is declined you will be refunded the difference between the Appraisal Deposit and the amount of the value of the Appraisal Services performed“ Because the appraisal was completed and the Appraisal Deposit Agreement was executed, a refund of that $is not warranted as the total cost for the appraisal service was $By signing and returning said agreement, the borrower acknowledged that he read, fully understood and agreed to the terms and conditions set thereof In regards to the $30, Mr [redacted] executed the Applicants Authorization to Release Information / Equity Freeze Letter that states the following: “I have applied for a mortgage loan from my/our Lender (its successors and/or assigns)As part of the application process, my/our Lender and the mortgage guaranty insurer (if any), may verify information contained in my/our loan application and in other documents required in connection with the loan, either before the loan is closed or as part of its quality control program.” loanDepot needed a payoff demand/buy out inquiry for the borrower’s current mortgage that he was attempting to refinanceThis is standard for any mortgage company to request a payoff demand while the loan is in processloanDepot received the payoff demand on December 15, which was before we received the Appraisal Report on December 28, in where it was discovered that the borrower would have to paint his house in order to proceed In conclusion, loanDepot sincerely apologizes to Mr [redacted] in regards to his experience and the communication between him and loanDepotIn regards to compensation of $230, it is not warranted due to the appraisal being completed and the borrower executing the Appraisal Deposit Agreement and the Applications Authorization to Release Information / Equity letterloanDepot 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 belowLoan Depot did not make any attempts to correct the inaccurate appraisal conducted on my home Bottom line, the credit card I used indicated the payment went to Loan Depot, and although they state that they did not profit from this transaction, I was charged $by them for an inaccurate appraisal I believe no attempts were made to correct my appraisal due to the fact that Loan Depot would have profited off the higher interest package they were attempting to sell me Regards, [redacted]

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this proposed action would not resolve my complaint For your reference, details of the offer I reviewed appear below As per the terms of that agreement, Loan Depot agreed to never contact me again by any manner,ie., mail, telephone, etc In exchange for that, I would drop the complaint I met my part of the agreement However, they still contact me or my wife, [redacted] ***, approximately twice a month by mail I have sent much of it back to them with no results Finally, I broke down and called them yesterday The person said there was nothing he could do and just kept reminding me that they had an A + Revdex.com rating How they have an A+ rating is certainly a mystery to me Any way, I want this to stop These are, in my opinion, terrible people who do not mind harassing senior citizens Please help me if you possibly can All their correspondence comes from [redacted] [redacted] Regards, [redacted] ***

San Diego Revdex.com Complaint #: [redacted] Borrower Name: *** Complaint Date: October 10, Borrower’s Complaint Filed with the Revdex.com:On May 19th, I called them to get a quote to refinance my houseIn the conversation they said, I needed to put a deposit down of $for the appraisal, that I would receive back, if my loan was denied for any reasonI spent the next months, sending things they needed back and forthOn September 29th, I received an email, that my loan had been deniedOn Oct 10th, I called them and asked to talk to someone about getting my deposit back and they said it was nonrefundable and there wasn't anything they could doI had, also emailed the couple of loan guys that were working on my loan, which they never replied to meThis is the worse company to work with, due to their lies and the extremely slow pace at which they moveI would advise everyone to stay far away from themI wish I would looked at their previous complaints, cause there are a lot of unhappy people with themBorrower’s Desired Resolution:I would like the deposit for my appraisal, back since they told me it would be refunded if my loan was denied and now they say its non refundableloanDepot Findings and Response Mr***’s loan process for a year rate and term refinance started with loanDepot on May 19, The property is located in the state of [redacted] , where there can be delays up to days to obtain the Title report On September 26, 2016, loanDepot received the Title report, in which it was discovered that there was a 2nd lien on the property that required to be paid off in order to proceed with the refinanceUnless the lien was disclosed at the time of origination, this would not have been discovered until the Title report was received Unfortunately, by the time it was discovered that there was a lien on Title; we were unable to change the loan terms to cash out as the appraisal value came in low, not allowing loanDepot to increase the loan amount Furthermore, the borrower executed the Appraisal Deposit Agreement on May 19, where the borrower acknowledged the following: REFUNDABILITY: The Appraisal Deposit is refundable in certain circumstances If no Appraisal Services have been completed on your property and you subsequently withdraw your application or your application is declined, your Appraisal Deposit will be refunded in full If Appraisal Services have been completed on your property and you subsequently withdraw your application or your application is declined you will be refunded the difference between the Appraisal Deposit and the amount of the value of the Appraisal Services performedIf your application is declined, even if the appraised value is not what you expected, you will only be refunded the difference between the Appraisal Deposit and the amount of the value of the Appraisal Services performedloanDepot did not profit from this loan application as we incurred expenses and losses on the customer’s behalf that exceeded the $amountWe ordered an appraisal report, title reports, and were subject to additional costs on other services renderedHowever, as a gesture of good faith to Mr***, loanDepot will issue a refund in the amount of $

Attached is the Letter of Explanation regarding this file.Thank You.San Diego Revdex.com Complaint #: [redacted] Borrower Name: [redacted] ***Complaint Date: 7/2/2015Borrower’s Complaint Filed with the Revdex.com:I have a recently-initiated home loan with LoanDepot.comI have an escrow account throughwhich they collect property taxesLoanDepot agreed to pay my property taxes but has failed todo so, and I am now officially delinquent with [redacted] (**)I have provided LoanDepotwith the delinquency noticeOver the phone they agreed to "process" the request and have thetaxes paidNothing has happenedMy latest call to them resulted in no progress, in fact, theperson on the phone did not have access to the letter and delinquency notice that I previouslysent to them by fax.Borrower’s Desired Resolution:Prompt payment of my property taxesInform me immediately that they have been paidBeresponsive to communications from me, i.eacknowledgement in writing or by phone that theyhave received my faxes, emails or callsProvide written assurance that penalties and interestincurred as a result of late property tax payment will be paid for by LoanDepot.loanDepot’s Borrower Complaint Summary:loanDepot sincerely apologizes to Mr [redacted] in regards to his experience with loanDepot so farA wire to [redacted] was initiated on July 13, 2015, and the penalties and interest will not becharged to Mr***However, please note that once the wire is transmitted, loanDepot has no controlover the timeliness of [redacted] posting the payment If you have additional questions or concerns regarding the servicing of your loan, please contactServicing directly by calling [redacted] or by emailing [redacted]

Attached is the Letter of Explanation regarding this complaint.Thank YouSan 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 days to pay off the old loans.I was charged duplicate interest for daysThey should have wired the payoff the same or next day topay off the old loansThere is no excuse for their behaviorWhen I complained they told me that's theway it isAlso getting the loan was a nightmareThey told me it would be done in less than daysIttook over days with constant questionsI asked them to give me one list of all the questions whichthey didHowever new questions kept coming up.Borrower’s Desired Resolution:reimburse me for the 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 JuneThe 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 offThis is in no way a double payment as suggested However, as a faith of good gesture and customer service concession, loanDepot will compensate him$Mr [redacted] has been working directly with loanDepot’s Legal Department to further addresshis concerns in regards to this

San Diego Revdex.com: [redacted] Borrower Name: [redacted] Complaint Date: 05/05/Borrower’s Complaint Filed with the Revdex.com: I have contacted this company times now and have asked them to stop sending me mailings for a loan offer that I supposedly requestedThat is not trueI am told that the only way they send out this letter is if I have gone on line and requested loan informationI have notThey have said I have requested this information in Aug and Apr And the loan information is always for the same amount of Which is far more than my home mortgage was for to begin withI have filed a complaint also with USPS about them since they do not seem to understand English and keep sending me their unwanted and unrequested loan offersBorrower’s Desired Resolution: USPS mailings to stoploanDepot Findings and Response: loanDepot is committed to the complete satisfaction of our customersOur goal is to provide complete transparency in all our transactionsWe have dedicated prompt attention to the concerns noted in the complaint and appreciate the opportunity to clarify any misunderstandingsIn an effort to assist homeowners with mortgage refinance options we periodically send direct marketing offersWe sincerely regret that the promotional letter from loanDepot may have caused concernOur automatic review of mortgage information was conducted based on a previous inquiry and public sourcesInformation is also derived from internet website referrals that may have been generated when a consumer reviews mortgage refinance offers onlineloanDepot upholds the law and guidelines regarding advertising and marketingWe have thoroughly reviewed our internal records to ensure that no official credit inquiry was made, and there is no loan pending or completed with loanDepot under the consumer’s informationTo make certain that future solicitations will cease, Mr***’s contact information was added to our Do Not Call and Do Not Mail registry on May 14, Please understand that this process may take up to days to completeloanDepot is sincerely apologetic for any inconvenience the consumer experiencedIf additional information is needed, please contact our Customer Care Department at [redacted] , Ext***

Attached are the Letter of Explanation and supporting documentation regarding this complaint.Thank YouSan Diego Revdex.com Complaint #: [redacted] Borrower Name: [redacted] ***Complaint Date: 7/23/2015Borrower’s Complaint Filed with the Revdex.com:I received a call from a representative at Loan Depot stating that I had signed up to receive informationabout refinancing optionsI do not recall submitting this request, but since I was already consideringcontacting a broker to discuss these options, I went ahead with call with Loan DepotThe representativewas very polite and seemed to be very knowledgeable which I appreciatedI informed him that myreason for refinancing was solely to eliminate my property mortgage insurance (PMI) as I have a greatinterest rate in my current loanThe representative used Loan Depot's home value calculation tool tohelp me decide if I had enough equity to eliminate the PMI and informed me that the estimated valuewas actually $10,over what my home needed to appraise for in order to eliminate PMIReliant uponthat information I went ahead and made a $deposit for an appraisal and was assured I would get itback at closingThey sent an appraiser over who had no knowledge of my area and significantlyundervalued my home ($36,less than Loan Depot's estimated value)I have appealed the appraisalthree times giving comps more appropriate for my area and pointing out discrepancies in the descriptionof my propertyUnfortunately I am forced to go through Loan Depot to resolve the matter as I am notallowed to communicate with appraiser based upon some lawLoan Depot has now been very short andvague within their responses to me regarding the appraisal and I have requested a refund in full since Iordered the appraisal relying on their calculations in value, they sent an appraiser out that almostrefuses to consider my appeals and I am unable to request the refund from the appraisal companythemselvesI do not believe my appraisal was accurate by any means and I should not have to pay for anappraisal that does not even accurately describe my propertyI have been denied a refund stating thatthe appraisal was done and therefore I cannot be refunded.Borrower’s Desired Resolution:I would like a full refund for my appraisal deposit in the amount of $395.loanDepot’s Borrower Complaint Summary:Borrower claims that she does not recall submitting a request online to receive information onrefinancing Borrower claims that the loanDepot representative used loanDepot’s home valuation calculationtool to determine the value of the property and that she went along with that information in regardsto the value of her property Borrower is upset with the appraisal report and claims that her property was undervalued andinaccurate Borrower is requesting a refund of her $appraisal deposit loanDepot Findings and Response:After a review of our systems, it appears that loanDepot reached out to Ms [redacted] due to informationsubmitted through the lead source called [redacted] on June 13, Contrary to what the borrower is stating above, the loanDepot licensed lending officer went on a“home value estimator” online to get an idea of the value of the subject property at the time ofapplication on June 13, The representative stated that the value came back around $151,000and soon after asks Ms [redacted] if this is an accurate assessmentThe borrower then rebuttals that thevalue of her property is more around $145,When the borrower’s application was taken, the$145,estimated value was used loanDepot has no control over the appraisal process and cannot choose which appraiser to conductthe inspectionThe appraisal process and inspection must be done independently as to ensure thereis no bias or predetermined value or agendaThe impartial local/certified appraiser (valuationexpert) completes the appraisal based on the most similar and best data available in the market.loanDepot has no reason to believe that an appraisal completed by an unbiased, impartial local,licensed expert is incorrectThe borrower has the best understanding of what her property is worth,and loanDepot went off of the borrower’s estimated value of $145,at the time of application The borrower was charged $for the purpose of an appraisal deposit collected by credit card.Prior to collecting this fee, loanDepot evaluates the customer’s needs and determines if they have aloan product that will help the customerThe company conducts an extensive screening process onthe phone with the customer to collect data and find the property program that will fit thecustomer’s needsloanDepot then emails the customer information about moving forward on theloanAt the time of application, the borrower’s loan inquiry was conditionally pre-qualified based onthe information that was received with an estimated value of the property at $145,When theappraisal was received on June 25, 2015, the appraised value came back lower than expected at$115,000, thus increasing the total loan-to-value ratio (LTV) of the property Furthermore, the borrower executed the Appraisal Deposit Agreement on June 15, where itwas acknowledged:“The Appraisal Deposit of $is non-refundable if an appraisal has been completed on thesubject property If your application is declined, even if the appraised value is not what youexpected, and an appraisal has been completed, you will not receive a refund of this appraisaldeposit.”Because the appraisal was completed and Ms [redacted] executed the Appraisal Deposit Agreement, arefund of that $is not warrantedBy signing and returning said agreement, the borroweracknowledged that she read, fully understood and agreed to the terms and conditions set thereof.The appraisal alone totaled $in where loanDepot had to cover the remaining balance In conclusion, loanDepot sincerely apologizes that Ms***’s experience with loanDepot was anythingless than satisfactoryloanDepot reached out to the borrower in regards to refinancing because of theinformation that was obtained through the lead source called [redacted] ***Furthermore, loanDepothas no control over the appraisal process and has no reason to believe that the appraisal report isincorrect as it was done by a certified appraiserA refund of that $is not warranted due to theappraisal being completed and the borrower executing the Appraisal Deposit AgreementloanDepot didnot profit from this loan application as we incurred expenses and losses on the borrower’s behalf thatexceeded the $amountWe ordered an appraisal report, ran credit reports, title reports, and weresubject to additional costs on other services rendered

Mr [redacted] was charged $for purpose of an appraisal depositPrior to collecting this fee, loanDepot evaluates the customer’s needs and determines if they have a loan product that benefits the customerloanDepot 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 needs Once the Title report was received, a lien with NAHAC (Nevada Affordable Housing Assistance Corporation) was discoveredloanDepot reached out to NAHAC on August 24, to obtain the payoff, which was received September 1, loanDepot required the lien to be paid in full, therefore, the transaction would be categorized as a “Cash Out Refinance” versus a “Rate and Term Refinance”However, Mr [redacted] did not want the lien paid in full and requested that it be subordinatedUnfortunately, loanDepot is unable to subordinate the lien In regards to the statement “I mentioned everything [redacted] asked for upfront before inspection”, a thorough review of loanDepot’s system was completed, and there appears to be no viable evidence that supports this claim Furthermore, the borrower executed the Appraisal Deposit Agreement on July 13, where the borrower acknowledged the following: REFUNDABILITY: The Appraisal Deposit is refundable in certain circumstances If no Appraisal Services have been completed on your property and you subsequently withdraw your application or your application is declined, your Appraisal Deposit will be refunded in full If Appraisal Services have been completed on your property and you subsequently withdraw your application or your application is declined you will be refunded the difference between the Appraisal Deposit and the amount of the value of the Appraisal Services performedIf your application is declined, even if the appraised value is not what you expected, you will only be refunded the difference between the Appraisal Deposit and the amount of the value of the Appraisal Services performedloanDepot did not profit from this loan application as we incurred expenses and losses on the borrower’s behalf that exceeded the $depositWe ordered an appraisal report, title reports, and were subject to additional costs on other services renderedWe respectfully decline Mr [redacted] ’s compensation of that $As of today, September 16, 2016, the transaction is still currently activeThe loan team has been in communication with Mr [redacted] to restructure the loan program in order for the borrower to proceed with the refinance

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 Mr [redacted] ’s was charged $for purpose of an appraisal depositPrior to collecting this fee, loanDepot evaluates the customer’s needs and determines if they have a loan product that benefits the customerloanDepot 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 needs The property was inspected on September 08, and ultimately declined on September 29, due to the income being insufficient for the amount requested After a review of our systems, the customer executed the Appraisal Deposit Agreement on August 18, where the customer acknowledged the following: REFUNDABILITY: The Appraisal Deposit is refundable in certain circumstances If no Appraisal Services have been completed on your property and you subsequently withdraw your application or your application is declined, your Appraisal Deposit will be refunded in full If Appraisal Services have been completed on your property and you subsequently withdraw your application or your application is declined you will be refunded the difference between the Appraisal Deposit and the amount of the value of the Appraisal Services performedIf your application is declined, even if the appraised value is not what you expected, you will only be refunded the difference between the Appraisal Deposit and the amount of the value of the Appraisal Services performed loanDepot did not profit from this loan application as we incurred expenses and losses on the borrower’s behalf that exceeded the $amountWe ordered an appraisal report, title reports, and were subject to additional costs on other services renderedMr [redacted] ’s request to refund the appraisal deposit is regretfully denied If the customers have any further questions or concerns, please feel free to contact me directly at ###-###-####

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.At the time of application, I told the loan officer that I had only been on title for six monthsHe said the great thing about working at headquarters is that you can speak with an underwriter directlyHe put me on hold and came back and said that it would not be a problemAfter weeks of ridiculous stress I asked to speak to our underwriter and she said they have to follow [redacted] and [redacted] guidelines and we do not meet itNot only did I tell them, but had they ordered title work, they would have known sooner and we DID meet [redacted] and [redacted] guidlines because we went to [redacted] and they said we met that guideline and we are closing next weekAlso, we have a copy of the appraisal and is says owner occupied, because it isOne last thing, as of October 1st, the lender is required to refund your appraisal moneyJust another way they pull the wool over your eyesI do not know a solution to this issueI had a lot of sleepless nights worried about this loan, but I trusted themThey let me down in a big wayI understand being turned down for a loan, but this is unacceptable Regards, [redacted]

Borrower’s Complaint Filed with the Revdex.com: At 10:A.Mon Thursday, March 31, 2016, I received a phone call from [redacted] The person ("***" claimed to a representative of this companyHe would only provide that he was calling from PLano, Texas, spoofing the phone call to have a [redacted] area code and that the company was located in CaliforniaHe would not provide any information as to how he obtained my cell-phone numberI am unlisted, and on every do-not-call listI have no interest in mortgage quotes, would have no interest in mortgage quotes, and feel they are either attempting to fraudulently obtain my personal information/identityThis is highly improperHe would not state where he obtained my contact information, and hung up the phone when questioned about this information Borrower’s Desired Resolution: I would like a report as to how Loan Depot obtained my contact information, and have that destroyed thereafterI would also like in writing from the company a letter stating that they will not further contact me, under any circumstancesloanDepot Findings and Response: loanDepot is committed to the complete satisfaction of our customersOur goal is to provide complete transparency in all our transactionsWe can assure you that we have dedicated prompt attention to the concerns noted in the inquiry, and appreciate the opportunity to clarify any misunderstandingsTo address the concern regarding the phone numbers we used to contact the customerTelephone numbers are obtained through leads, search engine, or web referrals that may have been generated through views conducted on an internet websiteOur representatives may conduct the initial call from any of our offices in the United States; however, our centralized offices are located in CalifornialoanDepot does not use the methods known as "spoofing" in marketing towards customersIn an effort to make it convenient for our potential customers to contact a representative in their area, we provide a local telephone numberPlease know that we strictly abide by all laws governing marketing and advertisingWe are dedicated to operate with vigorous adherence to these laws in our entire company operationsWe have taken the necessary steps to review the phone call that took place on Thursday March 31, 2016, and will address opportunities of improvement with the representative that conducted the callCustomer service is very important to us and we will take appropriate action to ensure this will not happen againWe are committed to our potential customers and we understand they did not request refinancing; no official credit inquiry was madeWe sincerely regret that they felt our promotional letter was sent without prior knowledgeThe request to add the customer’s contact information to our Do Not Call and Do Not Mail registry was completed on April 1, We require our affiliates to honor this request to halt solicitation, this process may take up to days to completeloanDepot is sincerely apologetic for any inconvenience the customer experiencedIf additional information is needed, please contact the undersigned

San Diego Revdex.com Complaint #: [redacted] Borrower Name: [redacted] Loan [redacted] / [redacted] Complaint Date: June 21, Borrower’s Complaint Filed with the Revdex.com: I sent in money monthly, early, to make my mortgage payments ahead of timeI started sending the payments, 1/every two weeks for months before they notified me that I could not do thatI 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 timeI have asked for an audit of my account so that they can see that I have paid in $more than I owed which I am not being credited forI have called weekly for months and cannot get this straightened upThere is no help there to turn to and their accounting is terribleThe sent me a check which I deposited and then they refused to pay on the check they sent meThis cost me overdraft fees and chargesThey 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 statedI 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 $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 $on 5/and there was also an overdraft fee of $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, Ms [redacted] ’ loan closed on December 28, 2016, and the first payment in the amount of $was due on February 1, Ms [redacted] s submitted payment in the amount of $on February 14, Thereafter, Ms [redacted] sent in payments in the amount of $510.00, every other Friday, starting on March, 17, 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 $was credited back to Ms [redacted] s’ account on April 26, As a courtesy, we are also refunding the remaining late fees in the amount of $ ($per month for the months of April, May and June) and the bank fees in the amount of $and $ A check in the amount of $is being processed and will be sent to Ms [redacted] s in the next 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-ext***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 The company Loan Depot is nothing but a bunch of liars and crooks; and I will pass the word on to every friend, family neighbors, and the public in their wrong doings to a 100% SERVICE CONNECTED VIETNAM VETERANUntil the day I die [redacted] [redacted] Regards, [redacted]