LoanDepot

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution would be satisfactory to me. I will wait for the business to perform this action and, if it does, will consider this complaint resolved
Regards,
*** ***

Attached are the Letter of Explanation and supporting documentation regarding this complaint.Thank You. San Diego Revdex.com Complaint #: ***Borrower Name: *** ***Complaint Date: 8/4/2015Borrower’s Complaint Filed with the Revdex.com:The appraisal is inaccurateIf Loan Depot does not want to refund my money, then I would like them toat least send a different appraisal company out so that I may obtain an accurate report on my propertyconsidering that an accurate report is what I paid for and very well deserve to receiveFurthermore, Ifirmly believe that Loan Depot should demand a refund from the appraisal company that was used dueto the inaccuracy of the report and their vague, contradictory responses when I submit an appeal.Regards,*** *** loanDepot Findings and Response: loanDepot regrets that Ms*** is not satisfied with her appraisal experienceMultiple appraisal appealshave been submitted and completed on the borrower’s behalfHowever, the appraiser did not changehis opinion of value on Ms***’s propertyAs stated in the initial response, loanDepot has no controlover the appraisal process and cannot choose which appraiser to conduct the inspectionThe appraisalprocess and inspection must be done independently as to ensure there is no bias or predeterminedvalue or agendaloanDepot has no reason to believe that an appraisal completed by an unbiased,impartial local, licensed expert is incorrectFurthermore, Ms*** executed the Appraisal DepositAgreement and the actual appraisal cost more than what Ms*** paid in which loanDepot had to cover.Because of these facts, loanDepot’s stance remains the same in that a refund of Ms***’s appraisaldeposit is not warrantedAttached is the most up-to-date appraisal report with the appraiser’s responseto the borrower’s concerns on page 14.Should Ms*** have any further questions or concerns, she may contact loanDepot’s Customer CareDepartment at *** ext***Representatives are available to assist Monday through Fridayfrom 8am to 5pm, PST

Hello,Please see the attached response to complaint number ***.Thanks,San Diego Revdex.com Complaint #: ***Borrower Name: *** ***Complaint Date: 7/28/2015Borrower’s Complaint Filed with the Revdex.com:After successfully completing over two months of a full documentation
mortgage loan applicationprocess my loan was approved on May 19th This cash out LTV refinance is needed to completea remodeling project on the propertyMs *** ***, Loan Depot s *** *** loan processorassured me I was approved and final loan closing documents would be drawn up as soon as I cancelledfour of my five credit cards that were to be paid off in the loan closeI immediately cancelled the fourcredit cards they specified even though I was told it would be impossible to reinstate them and that thisaction would negatively affect my then good FICO credit scoreMs *** the loan processor pushed me toobtain emailed and or faxed confirmation of the cancellation of these credit cards which was successfullycompleted in just two days on May 21stOn June10th after nearly three weeks of excuses I was amazedto hear Ms *** s explanation that the property appraisal was being reviewed causing this delayAfterfive weeks more of phone calls and emails asking for an update I was told on July 7th that theirappraisers comparable (comps) were not acceptable to Loan Depot and the loan was being declinedbecause of thisThis cancellation caused me to be damaged on several levels starting with my FICO scorebeing negatively affected because the lender required me to cancel my credit cards as the only conditionof final loan approvalMay 21st after being assured there were no other conditions of loan approval Iordered new flooring and new kitchen appliances all of which has now been cancelled at more cost oftime and moneyIn addition Loan Depot required me to rewrite at additional cost my hazard insurancepolicy with additional conditions and coverageThe facts have become clear after I have looked into thiswhich are disturbingI agreed to pay for a professional appraisal and paid a deposit of to beginthe process, I would have and was contractually obligated to pay whatever the cost was for aprofessional fee appraisalAs far as I can ascertain Loan Depot through its AMC appraisal agents were amajor part of the cause of the the unacceptable to them appraisal by restricting the appraisers feesoffering a below market fee causing a low end appraiser located hundreds of miles from the property tobe the only appraisal service that would do the workThis appraiser they selected was not a member ofthe local MLS boardThere are many local *** *** *** real estate appraisers when itcomes to these unique properties, many of the closings (comps) are not reported on a MLS salesreporting systemThese private sales are recorded at the *** county recorders office which theselocal appraisers are aware ofI went into this fact at length with Ms *** *** in a series of midMarch emails while Loan Depot AMC agents took over a month looking for a low end appraisal service byoffering a below market feeI was unaware that Loan Depot was offering a substandard fee or I wouldhave interceded at that timeMy damages are ongoing nearly five months time passing when this couldhave been finished in two months because of Loan Depot s actionsThis has caused me thousands ofdollars damage in lost time, emails, phone calls, lost appliance discounts and installation datesAll thiswhile trying to keep my property improvement plans going forwardI am ready to proceed with a loanclosing in order to rectify this, not wanting to to resort to a costly lawsuit with Home Depot for itsdisregard to its fiduciary obligations to meKindly help me with this or refer me to whoever you feel maybe able to help me proceed.Borrower’s Desired Resolution:Close this loan that was approved with no conditions on May 21st 2015.loanDepot’s Borrower Complaint Summary:Borrower claims that the decline of his loan negatively impacted his credit score and loanDepotrequested to close all of his credit accounts. Borrower claims that loanDepot used a low-end appraiser to complete the appraisalBorrower states he is ready to move forward with the loan process.loanDepot Findings and Response:loanDepot apologizes for any inconveniences caused to Mr*** in relation to his loanapplicationloanDepot regrets that we were unable to assist Mr*** with his financial needsAfter further review, Mr***’s loan was declined on July 8, due to the property beingconsidered too unique and no comparables for this property type were found in the surroundingareaFollowing the decline of his loan, Mr*** expressed his concern regarding the request toclose his credit accounts on July 9, As a result, loanDepot submitted the attached formalletters to all credit companies, on July 15, 2015, requesting reinstatement of his accounts. As a customer concession, due to the inability to obtain a full appraisal report for this property, theappraisal deposit fee was refunded on July 9, in the amount of $to Mr***’s credit cardending in 0370. In conclusion, loanDepot sincerely apologizes that Mr***’s experience with loanDepot was anythingless than satisfactoryWe attempted to assist Mr*** with his loan request, but ultimately without acompleted appraisal, loanDepot is unable to continue with any loan product. Should Mr*** have any additional questions or concerns, he may contact the Customer CareDepartment at *** ext***Representatives are available to assist her Monday throughFriday from 8am to 5pm, PST

San Diego Revdex.com ID: ***Customer Name: *** ***Rebuttal Date: December 22, 2016loanDepot File: ***
Consumer Rebuttal Filed with Revdex.com:I started a refinance application with loan depot requested to use my previous appraisalI then signed a transfer form to transfer the FHA case number and the appraisal to loan depotWhen the case number and appraisal was transferred to Loan Depot the loan officer *** *** told me the loan documentsI told the loan officer I wanted to use the previous appraisal and he told me the amount for what I wanted to payoff was not enough moneyThe loan officer stated that the loan documents were in amount of 225,value of home, and loan amount at 190,and that we needed another appraisal to match the loan amount listed on the documentsHe asked me do I think after completing additional repairs to the home, do I think the house would qualify for a higher value, I told him I did not know and I did not want to take that chance, but the loan officer assured me that the new appraisal would not be lower than the first appraisal so I agreedThe new appraisal came in at 100,000, 70,below the first appraisalI filed for an appeal and the appeal as of today, has gone unanswered and now I that horrible appraisal attached to my FHA case number it and now with my current lender they have rejected both appraisals and was told by the current lender if I wanted to refinance with their company I needed to get a third appraisalI paid $for the second appraisal in which I requesting a refund for.Desired Settlement: Customer is seeking a refund of the Appraisal deposit.loanDepot Response:We understand that often situations that occur in the lives of our customers are beyond their controlWe do our best to assist them in obtaining a loan to help them to reach their financials goalsOur goal at loanDepot is to always find ways to make the loan process a smooth transaction for all our customersWe appreciate this opportunity to revisit our customer’s requestCustomer satisfaction is the core of our business.We know that there are circumstances we cannot control that may adversely affect our customerloanDepot has decided to refund the $appraisal deposit as a gesture of good faith, towards our customerWe pride ourselves on being a customer-centric company, with the focus on surpassing the expectation level of serviceWe hope that our customer can look toward us in the future, to assist them in realizing their financial goals. If additional information is needed, contact our Customer Care Team at *** *** *** *** Monday to Friday, 8:00AM to 5:00PM Pacific Time

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below
Regards,
*** ***

Please see attached response for complaint # ***.Thanks,San Diego Revdex.com Complaint #: *** Borrower Name: *** *** Complaint Date:
7/20/2015 Borrower’s Complaint Filed with the Revdex.com: Nearly 4 months after I submitted my loan application, Ms. *** conveyed to me that they cannot go forward with the loan because my credit score took a steep nose dive from 670-680 when I first submitted my application to the 500s by the end of May 2015. What astounds me is that Ms. *** had the audacity to ask me if it would be alright for one of the other departments to contact me to see if I qualified for another product. Moreover, I asked Ms. *** if she would refund my appraisal fee and she told me she would look into and let me. As of July 17, 2015, Ms. *** has not called me back. Misrepresentation, poorly trained staff, lack of accountability and many cover ups later led to the demise of my loan application. I first approached Loan Depot to obtain cash from my equity to pay of credit card debt to avoid potential bankruptcy. However, as everyday passed with my application at Loan Depot, I became more delinquent on my credit card payments. What was supposed to be a relatively simple transaction was morphed into an intractable and incomprehensible leviathan created by none other than the likes of Mr. ***, Ms. ***, Ms. *** and the countless other inept staff working behind the scenes at Loan Depot. Loan Depot contributed to the demise of my credit and caused extreme anxiety. Borrower’s Desired Resolution: I'd like to be refunded for the appraisal fee. loanDepot’s Borrower Complaint Summary: Borrower claims that there was communication issues between him and loanDepot staff. Borrower states dissatisfaction with the level of service received. loanDepot Findings and Response: loanDepot apologizes that Mr. *** felt like there were communication issues between him and loanDepot. This will be researched and addressed internally. After a review of Mr. ***’s loan, he was charged $395 for the purpose of an appraisal fee which is collected by credit card. On February 6, 2015 Mr. *** provided his credit card information to loanDepot for said fee. Prior to collecting the appraisal 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 proper program that will fit the customer’s needs. loanDepot then emails the customer information about moving forward with the loan. Mr. *** executed the Appraisal Fee Agreement on February 2, 2015 where he acknowledged: “The Appraisal Fee of $395.00 is non-refundable if an appraisal has been completed on the subject property. If an appraisal has been completed on the subject property and you cancel your application, you will not receive a refund of this appraisal fee.” In conclusion, loanDepot sincerely apologizes that Mr. ***’s experience with loanDepot was anything less than satisfactory. We attempted to assist Mr. *** his loan request as much as possible, but ultimately, the loan was declined due to Delinquent Past or Present Credit Obligations. Based off of this and according to the terms executed on the attached Appraisal Fee Agreement, a refund of $395 is not warranted. loanDepot did not profit in any way on this transaction, as Mr. ***’s appraisal alone cost $425.This cost exceeded the amount of deposit collected. Should Mr. *** have any additional questions or concerns, he may contact the Customer Care Department at *** ext. ***. Representatives are available to assist her Monday through Friday from 8am to 5pm, PST

Revdex.com:
I have reviewed the response made by the business in reference to
complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below
Problem: I have recently reviewed my credit report, and I remember I had made a complaint last year regarding multiple unauthorized hard inquiries taken with my social security numberI took a deeper look, and I am horrified on the carelessness of the handling of my social security numberA credit report is valid for any loan transaction for up to full monthsLoanDepot made several unauthorized hard inquiries using my social security numberI called *** and they told me LoanDepot needs to issue a "INQUIRY DELETION LETTER", and I also have to submit a letter attaching the deletion letterUnder the Fair Credit Reporting Act, LoanDepot needs to be accountable for a response on thatLOANDEPOT.COM/*** SAN DIEGO , CA *** *** *** February 16th,(Valid) April 10th, (Not sure as it is less than months old since last) November 6th, (Valid) March 9th, (Valid per online application) March 11th, (Unauthorized) March 12th, (Unauthorized) April 6th, (Unauthorized) April 9th, (Unauthorized) Nov 5th (Valid)Desired Outcome:I need the letter from LoanDepot to remove the unauthorized entries.
Regards,
*** ***

San Diego Revdex.com Complaint #: *** Borrower Name: *** *** *** Complaint Date:
3/15/2018 Borrower’s Complaint Filed with the Revdex.com: Agent *** *** , rushed through the refinance process without explaining it and when I asked him to stop the process he refuses itI would not like to proceed with the refinanceI want it to stopPlease, contact me if you have any questionsThank you *** *** Borrower’s Desired Resolution: I would like agent *** to stop harassing me , and stop the refinance process. 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 reached out to Mr*** on March 12, to discuss loan options for their property at *** *** *** *** *** *** ** *** After a review of the calls that took place on March 12, with loanDepot’s Licensed Lending Officer, did not refused to cancelled the loan applicationIn addition, the Licensed Lending Officer request Mr*** to provide the Win order pre-qualify the customer prior the customer leaving to vacationThereafter the customer replied the Licensed Lending Officer that he will send Wby the end day The loan application was cancelled on March 19, 2018, pursuant to the customer’s request The Customer’s information was submitted to our “Do Not Contact” registry on April 04, If 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 ***, and find that this resolution would be satisfactory to me. I will wait for the business to perform this action and, if it does, will consider this complaint resolved
Regards,
I accept this only because nothing is going to be done about this shady company I just am disappointed that the Revdex.com gives them An APlus Rating when they do not deserve it This is very misleading as I have always given companies with the Revdex.com Rating preference over other companies It evidently means they are paying their dues and that's all that matters Never, Ever again.................*** ***

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below
Regards,
*** ***

We are committed to our customers. We are appreciative of the opportunity to address their concerns. The loan process is very complex and we do everything in our scope to assist the customerWe have reviewed the process for this loan. Our customers are initially prequalified on
the verbal information they provide us. Estimates are used to find out what programs are available. The information is later validated with the appropriate documentation, and verifications. Call recordings indicate that customer was never told she was immediately approved, as the loan still has to go through the appraisal, and underwriting process. On September 28, 2017, during various calls, customer was told about the out of pocket cost of an appraisal. She was further told in the call recordings that the appraisal deposit would be credited at closing. The licensed lending officer told her in months she was eligible to use the lifetime guarantee. Customer was not told that we would hold on to her funds until she became eligible for the refinanceWe were not able to proceed with the loan because the impound amounts provided by the customer were underestimated. When the correct amounts were corrected, the customer was not able to meet the debt to income ratiosWe were unable to continue with the program. Services were rendered, and therefore, a refund of the appraisal deposit is not warranted

San Diego Revdex.com Complaint #: *** Borrower Name: *** *** Complaint Date:
February 11, 201 Borrower’s Complaint Filed with the Revdex.com: I was 100% transparent with my land contract I am in and the situationThey collected $before they then told me because it was land contract could not service a loanthey should have told me this before charging me any moneyThey were not clear or not listening to my situation Borrower’s Desired Resolution: I believe that the company had multiple opportunities to stop the process as they were aware of the land contract situation to say sir we cannot help you and not charge me money. 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 After an internal review of the call recording on January 30, 2017, between Mr*** and the Licensed Lending Officer, there is substantial evidence to support the customer’s allegation that the Licensed Lending Officer was informed that the subject property located at County Rd 2, Swanton, OH was on a Land Contract As stated in the Appraisal Deposit Agreement executed, the appraisal fee is non-refundable once services have been renderedAlthough circumstances beyond our control rendered us unable to assist in achieving their financial goals, the appraisal fee has been refunded; we hope this will confirm our good intentions

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below
Regards,
*** ***
As stated in my initial complaint, there was no basis for withholding the refund for days since the payoff was provided by the bank which included any fees, if applicable Secondly, the loan servicing rep kept saying "that's the way it is" without completing the sentence which read "...and there is nothing you can't do about it" Here, this is what I can do, I will take this to small claims court and let the Judge decide if if was justified for the escrows funds of several borrowers to be withheld and used by the bank, interest free The abuse is reprehensibleI'm looking forwards to my day in court

loanDepot Findings and Response: Our commitment to addressing the concerns of our customers is our top priorityWe make every effort to provide a timely and conclusive response to our customer’s inquiryWe understand the importance of customer feedback and constantly find ways to surpass the level
of service expectations of all our customersAfter careful review of the loan file, we have identified the followingloanDepot is not the servicer of this mortgage loanThe loan was ***sferred to *** *** *** * *** (***) on June 16, A notice of servicing ***sfer that outlined important information needed for the ***sition was sent to the customer on May 27, The notice stated there would be no change to the terms or conditions of their Mortgage Note, and the loan number would remain unchangedIn addition, the new servicing company contact information was includedWe sincerely regret any communication breakdown that may have occurred regarding the servicing ***sferThe customer can contact *** customer service at *** *** for assistance regarding their escrow accountThank you for allowing us the opportunity to address the customer’s concernsSincerely, *** *** Customer Care Analyst

loanDepot is committed to assisting customers fulfill their financial goalsWe know homeownership is something of which to be proudWe take pride in the fact that we can be part of helping the customer realize their dreamsCustomer Service is a priorityWe do our best to make the loan process a
smooth transaction; however, there can be obstacles that are beyond our control. We try to obtain as much information initially to prequalify our customersWe are required to collect the required documents from the customer to substantiate the data they have provided usUnfortunately, we are not privy to personal documents regarding salary and other verifications; therefore, we have to rely heavily on our customers to provide them within stringent timeframes to meet deadlinesHowever, there are times when documents can become illegible in transmission, and we have to ask for duplicatesThis burdens our customers who already feel frustrated with the vast documentation that is needed. We understand the customer has put their trust in our staff, and we are actively working behind the scenesWe know that there are time frames involved and we work as a team to process a file in a timely mannerHowever, there are delays that can occur, without fault to loanDepot or the customerDocuments have expiration dates, and we may need updated informationOur team reaches out and lets the customer know so that we can expedite the file to underwriting.We appreciate the efforts and time our customers take out of their day to send us what we needWe respect our customer’s strong family connection, and we are sorry to hear that their child was ill during the time they sent us the documentsThe underwriting team is under extreme scrutiny by investor and government entities to deliver a sound decision for the loanThey are responsible for ensuring that they examine the customer’s credit history, and ability to repay, while sustaining their other creditor obligationsThis is an arduous process; we are not trying to sabotage our customersloanDepot does not make a profit from the loan until it funds. We were not contacted by anyone questioning the loan processWe take every measure to safeguard our customer’s private information from unauthorized partiesThe Underwriter verifies the stability of income and earnings trendCommission pay may entail more itemization to prove consistencyWe took every precaution to validate the income and its stabilityWe exhaust all efforts to make ratios work between the pre-approved amount and purchase price of the homeWe explore every avenue possible to make the loan work for our customers within the parameters available Regretfully, there were circumstances that negated our ability to approve the loanWe understand this is a great disappointment to our customers and they feel that we did not do our due diligence in regards to their incomeWe can validate that every option was explored, however, we are unable to bypass the guidelines we are required to follow

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution would be satisfactory to me. I will wait for the business to perform this action and, if it does, will consider this complaint
resolved
Regards,
*** ***

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below
*** Tracking for the tracking #*** provided by Loan Depot states a package was delivered to a physical address on 11/21/and left on the front porch because no signature was requiredI do not have a physical address for deleveriesI have a P.OBox *** ** *** ** ***I was told more than once by different Loan Depot representatives that I would receive the paid in full letter by email for this reasonI have received no email nor any mail from Loan DepotAll I am asking for is an email stating my account is paid in full and showing my account balance is $They can send this to my PO Box as well
Regards,
*** ***s817- 966-

San Diego Revdex.com Complaint #: ***
Borrower Name: *** ***
Complaint
Date: 12/18/
Borrower’s Complaint Filed
with the Revdex.com:
Agent did not ask me to pull credit during the disclosure
I asked him that I don't want my credit pulled - and he did it anyhowHe did
not tell me or ask explicit permission/authorization to pull my creditHe said
it was in the "disclosure" he just read, but I asked "are you
going to pull my credit" and he already did it.
Borrower’s Desired Resolution:
Want any blemish of pulling my credit removed from the
report and an apologyThey also need to explicitly ask CLEARLY whether
someone's credit should be pulled
loanDepot’s Borrower Complaint Summary:
1. Borrower states that he did not authorize
loanDepot to pull credit and is requesting to have the inquiry removed
loanDepot Findings and Response:
1.
loanDepot apologizes for the
dissatisfaction in service received and the miscommunication between him and
loanDepotThis will be researched and addressed internally with personnelloanDepot is currently working with Mr***
to address all concerns
Should Mr*** have any additional
questions or concerns, he may contact the Customer Care Department at
*** ext***Representatives are available to assist her Monday
through Friday from 8am to 5pm, PST

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below
I started a refinance application with loan depot requested to use my previous appraisalI then signed a transfer form to transfer the FHA case number and the appraisal to loan depotWhen the case number and appraisal was transferred to Loan Depot the loan officer *** *** told me the loan documentsI told the loan officer I wanted to use the previous appraisal and he told me the amount for what I wanted to payoff was not enough moneyThe loan officer stated that the loan documents were in amount of 225,value of home, and loan amount at 190,and that we needed another appraisal to match the loan amount listed on the documentsHe asked me do I think after completing additional repairs to the home, do I think the house would qualify for a higher value, I told him I did not know and I did not want to take that chance, but the loan officer assured me that the new appraisal would not be lower than the first appraisal so I agreedThe new appraisal came in at 100,000, 70,below the first appraisalI filed for an appeal and the appeal as of today, has gone unanswered and now I that horrible appraisal attached to my FHA case number it and now with my current lender they have rejected both appraisals and was told by the current lender if I wanted to refinance with their company I needed to get a third appraisalI paid $for the second appraisal in which I requesting a refund for.Documents Attached

Borrower’s Complaint Filed with the Revdex.com: We began the application process for a refinance loan on Oct29, We preferred a VA loanWell into the process we were told that the VA would not accept refinance of reverse mortgage loansWe were later told that FHA would not make the loan for a
similar reasonWe ended up agreeing to a conventional loan at a much higher interest rateAfter complying with numerous requests for additional personal information we began to experience a total lack of response to numerous attempts to determine where we were in the processFinally on Feb20th we received an email asking us to complete a questionnaire about how our loan declination was handledWe never had any contact indicating any loan declinationI was contacted by their customer satisfaction team by *** (sp) in response to an earlier Revdex.com complaint precipitated by the lack of communication from Loan DepotWe spoke on a Friday and was told she would need until the next Tuesday to complete and investigation of my complaintSince that call, I believe was in early February 2016, we have never been contacted nor been able to get a call or email in response to numerous requests to speak to someone at Loan DepotSince then we applied with a different mortgage company on Mar 1st and closed a VA loan on April 11th, We inquired of the VA about any policy of not funding reverse mortgages and were told there was no such policyWe believe we were lied to in an effort to direct us to accept a conventional loan at a much higher interest rateEven after accepting that premise we were still completely ignored and find it impossible to get anyone from Loan Depot to contact usBorrower’s Desired Resolution: I believe we should be refunded our $cost of an appraisal on our property which turned out to be totally useless to usWe subsequently had to have another appraisal completed for an additional cost of $loanDepot Findings and Response: loanDepot is dedicated to the complete satisfaction of our customersWe work with complete transparency in all of our processesWe have conducted an internal review of the events surrounding this particular application and have prepared the following response of our findingsThe application process for a refinance was initiated on October 12, Customer expressed a preference for a VA loanA complex review of all applicable loan programs was conductedRegretfully, investor guidelines do not allow the refinance of a non-inherited reverse mortgage that does not have a mortgage lien reflected on the title reportAdditionally, the customer was advised on November 16, that the investor did not participate in reverse mortgage refinance, and a conventional loan product was offered as an alternative; however, the interest rate was not favorable to the customerDuring the process of the conventional loan, additional documentation was needed to substantiate information provided by the customerloanDepot was not able to approve the conventional loan due to the Debt-to-Income (DTI) did not meet investor guidelinesAttempts were made to contact the customer by telephone in regards to this decision; however we were unable to reach the customerA follquestionnaire regarding the handling of their decline was sent via email to the customer. Contact with the customer was made by the Customer Care Team in response to the customer's request for communicationCustomer was advised that an internal review was conducted, and he would receive a responseloanDepot is held responsible to comply with investor guidelines during the loan processOur goal is to find a suitable program that meets the needs of our customersWe are compelled to adhere to the strict guidelines of our investors, as well as governmental regulationsWe are unable to justify concessions that other lenders may allow in the decision of their customer's loansOur core values are structured to abide by the rules of fair lending. We are sorry that the customer expressed his dissatisfaction with the loan process. After careful review, we have found that a refund of the appraisal fee is not warranted because the appraisal valuation was completed on December 7, and the fee was paid to the Appraisal Management CompanyWe trust the customer concerns have been effectively addressedIf additional information is needed, please contact our Customer Care Department at *** ***, Ext***