LoanDepot.com

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 I reject the response made by the business in reference complaint ID [redacted] I have statements in writing on the Application Disclosure form saying I will get the $appraisal fee refunded to meSee Attachment This business has online reviews from people who complain about this same issue of being cheated out of fees they are told would be refunded Regards, [redacted]

loanDepot’s Borrower Complaint Summary:Borrower claims that there was miscommunication between him and loanDepotBorrower statesthat he was informed he was approved and was told to close out his credit cardsBorrower states that the loan was cancelled due to “no benefit.”Borrower claims that he was strung along for weeks with loanDepot knowing this loan would nothappen Borrower claims that loanDepot is predatory and does not think he will be refunded his $395deposit.loanDepot Findings and Response:loanDepot sincerely apologizes that Mr [redacted] felt like there was miscommunication between him and loanDepotIn regards to the borrower claiming he was approved, Mr [redacted] was conditionallyapprovedWhat this means is that the loan’s approval was contingent on the conditions specified by Underwriting in order to get Final Approval on the loanThe borrower’s loan never received a final approval by our Underwriting departmentIn terms of the closing out of the credit cards, loanDepot found no viable evidence that supports Mr [redacted] ’s claim in loanDepot specifically requesting Mr [redacted] to close out his credit accountsWhen Mr [redacted] came to loanDepot on 10/13/2014, he discussed with his SrMortgage Banker thathe wanted to consolidate debt and take cash out of his property with an FHA Fixed Year loanPerFHA loans, there has not be a high enough net tangible benefit to the borrower, and it is up to theUnderwriter’s discretion to approve whether or not the net tangible benefit is acceptableTheappraised value of his property came back lower than expected, which eliminated the option to takeadditional cash outMr [redacted] ’s proposed payment would be going up to $compared to hiscurrent monthly payment of $on his mortgage due to the $6,worth of debt to be paid offwith the new loanHis mortgage payment would be increasing $for years since the loanprogram attempted to be secured was an FHA Fixed Year programFurthermore, it was foundthat Mr [redacted] will be obligated to pay a student loan effective January in the amount of$per month for a total of monthsAfter this month period, the payment will beincreasing excessivelyBecause of these factors, the Underwriter deemed the net tangible benefit tonot be high enough to final approve this loan loanDepot apologizes to Mr [redacted] that he felt strung along for weeksBased off a thorough filereview, there appears to be no specific delay, as loanDepot exhausted all efforts to try to get thisloan final approvedIn a last attempt, Mr [redacted] ’s loan was escalated to our Risk department forapprovalHowever, final approval was not granted based off the above listed contributing factors loanDepot apologizes that Mr [redacted] feels that loanDepot practices predatory lending.Management has been notified regarding his concerns, and as a customer service concession to him,a full refund in the amount of $was successfully processed to the Discover card ending in 7154on 12/3/ In conclusion, loanDepot sincerely apologizes to Mr [redacted] regarding his experience with loanDepot.loanDepot worked hard to try and get this loan approved for Mr [redacted] , but per Underwriting and theRisk department, they deemed that Mr [redacted] ’s loan did not have a high enough net tangible benefitfor loanDepot to do this loanAs a concession to Mr [redacted] , we have successfully processed a fullrefund in the amount of $If Mr [redacted] has not received this refund, he may contact loanDepot’sCustomer Care team at 888-337-ext***Representatives are available Monday through Fridayfrom 8am to 5pm PST

San Diego Revdex.com Complaint #: [redacted] Borrower Name: [redacted] Complaint Date: 12/3/ Borrower’s Complaint Filed with the Revdex.com: Dear sir, Over months ago I registered this complaint and received a response that these mailing would stopThey have notPlease reinstate this complaint Thank you Regards, [redacted] loanDepot’s Borrower Complaint Summary: Borrower is requesting to no longer receive any contact from loanDepot loanDepot Findings and Response: loanDepot sincerely apologizes for any inconvenience this may have caused Mr [redacted] In order to alleviate any frustration he may have, loanDepot has added Mr [redacted] ’ information to our Do Not Call and Do Not Solicit list to ensure he no longer receives any type of communications from loanDepot Should Mr [redacted] continue to receive solicitation from loanDepot, he may contact the Customer Care Department at [redacted] ext***Representatives are available to assist her Monday through Friday from 8am to 5pm, PST

Complaint Number: [redacted] Customer: [redacted] Loan #: [redacted] and [redacted] We appreciate the borrower expressing their concerns through the Revdex.comlt ensures they abide by their core beliefs and operates within industry guidelines loanDepot charges a $lock fee This fee is by credit card The lock fee collected from the customer guarantees that the customer will receive the quoted rate and fees for a specific period of time, usually to days Upon the funding of the customer’s loan, the fee is credited towards the customer’s closing costs The lock fee is a non-refundable fee The only exception is when the application is declined based on the information provided by the customer prior to collecting the lock fee The lock fee is used by loanDepot to secure the rate agreed upon and loan product chosen by the consumer for a set period of time After the lock fee is collected, loanDepot secures a position on the secondary market for the customer’s loan and ensures that the rate selected is available at any time over the period of the lock agreement Should the customer decide to discontinue the loan process with loanDepot, the fee will be used to cover the cost of taking that position on the secondary market and the non-delivery fees assessed to loanDepot In addition the lock fee is used to cover services ordered on the customer’s behalf such as property appraisals, credit reports, underwriting fees, etc Prior to collecting the lock 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 If there is a match and the customer is interested in moving forward with loanDepot, a Lock Script is read to the customer over the phone to inform them of their proposed rate and fees, the length of time the proposal is good for, and that the fee is non-refundable loanDepot then emails the customer information about moving forward with the loan Mr [redacted] began the loan process on 8/27/2014, and on 8/28/ he signed a LoAgreement where he acknowledged: “If your application is declined based on inaccurate information provided by you, or information discovered by loanDepot and not disclosed by you, or your property is deemed unfit to lend upon, the appraised value is lower than you stated the value to be, or the income, assets, and employment documents you provide do not support the information provided during the interview process, the lofee is NON-REFUNDABLE.” It further states: “If you choose not move forward with another program offered to you or the appraised value is so low that your loan is declined because there is no program available, the lofee is NON-REFUNDABLE.” In this case Mr [redacted] stated at the time of application that his home’s value was approximately $355, giving his a loan to value (LTV) of 80%However when loanDepot received the appraisal that was ordered on Mr [redacted] ’s home, the actual property value was $305,which pushed his LTV up to 93%, this unfortunately negatively affected his loan because it surpassed the maximum LTV allowed per his loan termsTherefore, per the LoAgreement which Mr [redacted] signed no refund is due Mr [redacted] applied for a second time with loan Depot and began a new loan process on 11/25/2014, and on 11/30/he signed a LoAgreement where he acknowledged and again agreed to the $non-refundable lock fee However, as a gesture of good faith we only collected $ Said loan was also declined due to a low value appraisalAs a customer concession to Mr [redacted] and in good faith a refund of the $was approved and processed on February 16, The refund was processed as a credit to Mr [redacted] ’s Visa ending in The transaction ID is Included are the following documents: 1) Lock Agreements (signed)

Please see the attached Letter of Explanation regarding this complaint.Thank You.San Diego Revdex.com Complaint #: [redacted] Borrower Name: [redacted] [redacted] Complaint Date: 3/21/ Borrower’s Rebuttal Filed with the Revdex.com: 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 Company cited my interest in a loan for a second home in [redacted] **.* BUT the correspondence I sent with my complaint (and sent to me from Loan Depot) refers to a file and application for my property in [redacted] **, which I have never discussed with Loan DepotI still want to see what details they allege they have (and I provided) regarding a loan for my home at *** [redacted] *** [redacted] ** ***, and to which they cited in their letter that: " Recent home value increases in the [redacted] area have prompted a review of your account and it has been determined that we may now be able to refinance you into the CONFORMING Yr Fixed Cash out Refinance you were originally looking for." The original issue has not been addressed, and I maintain I still have a right to see the file regarding my home, as referred to in their letter I have attached another copy of their letter, and restate my expectations that the complete file will be presented to me, and then deleted from their files as fictitious Regards, *** [redacted] * We no longer own the home in Greensboro, NCAs for our home in [redacted] , GAit was a cash saleno financing loanDepot Findings and Response: After a thorough investigation, the only file that loanDepot has for Mr [redacted] is the referenced file in the initial response to his complaint for the property located at *** *** [redacted] *** [redacted] ** ***However, in the loan process, loanDepot is required to take note any additional properties that a customer has to accurately qualify them in regards to their debt-to-income ratioWhen loanDepot took Mr [redacted] ’ application on 9/21/with the intention to refinance the property located in [redacted] **, it was communicated to loanDepot by Mr [redacted] that his current address at the time was *** [redacted] [redacted] *** [redacted] ** ***Since loanDepot’s systems has Mr [redacted] ’ current residence listed at the [redacted] ** location, loanDepot sent the correspondence/advertisement to that location to ensure Mr [redacted] received the advertisementAlthough the advertisement sent to Mr [redacted] is in reference to the [redacted] area, please know that loanDepot has no loan application in place for the property located at the [redacted] , ** location As stated in the initial response, loanDepot cannot delete the files in our systems as we are required to retain records of all loan applications for up to seven years, pursuant to state and federal lawAnd since loanDepot does not have an application in relation to Mr [redacted] ’ property at [redacted] , **, loanDepot has nothing to send him other than the documents that were already sent in our initial response Should Mr [redacted] have additional questions or concerns, he may contact loanDepot’s 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 As I have previously stated at Loan Depot they do not respect their customers or value their informationI was given another individuals SSN with no protection on the document even!!! They do not value customers personal and sensitive informationAs previously discussed they issues LifeLock for my wife and I and other than verbally stating and telling me to "trust them" they failed to provide proof that they have taken care of the customer who's information was wrongfully released to meIn Loan Depot's last response they state:" The lock fee is a non-refundable fee if a borrower elects to withdraw their loan application after services have been rendered."Meaning that I was out $if I did decide to walk away despite their transgressionsAdditionally I was told by an executive that I "should of not done the deal with them and just lost $if I was that unhappy"They do not value their customers time, they are not trustworthy and don't respect privacyAdditionally even now with my loan closed they are still inconvenientJust recently I was assigned a new loan # as part of their standard procedure so I can set up my on-line accountThe letter with the instructions was dated 2/25/However, I once again had to call after it would not allow me to set up my account and I was told it would not be active to 3/13/I inquired why would I receive a letter with instructions dating 2/25/15, and I was told I am not sureThey are disorganize and one department does not speak to the otherAs stated in my initial request I request compensation for the amount of my time this company has wasted of mineIt is sad that even now after my loan was processed after this whole mess they can't even set me the right instructions to set up my account to make paymentsLoan Depot does not care about customers you are just a number and profit to themI was not allowed to leave a deal without a $penalty and yet they hold no accountability for their actions 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 Loan Depot states:"At said time, loanDepot originated the loan on Mr***’ property based on the information that Mr [redacted] disclosedIt was later found out while the loan was in process that he did not meet the months of reserves which were a requirement for his refinance Mr***s failed to disclose this information during the origination stage of his loan request."This statement implies that I withheld information from the SrMortgage AgentThis is not trueThe SrMortgage Agent did not inform me at any time that months reserves were required for my refinance prior to my rejectionEach time I spoke to a loanDepot representative, I was informed that all calls were recordedI defy loanDepot to show evidence that I failed to disclose ANY information that was requested of me during ANY of those callsRemember, I informed the SrMortgage Agent that other people from his firm had rejected my loan request when he first spoke to meHe was the one that pursued further actionIf he had not assured me that I "qualified" for the loan, I would not have paid $LoanDepot claims that they did not profit from the transactionI claim that I LOST $that I cannot affordIf this was not a "bait and switch" it was incompetenceThe explanation that I initially "qualified" but that the underwriter later "discovered" that I did not qualify might serve as a valid excuse for the SrMortgage Agent's actions within the loanDepot organization but it does not convince me I do not think that I should have to pay for loanDepot's incompetence.My documentation for possible Revdex.com arbitration consists of my July bank statement which shows a debit card transaction for loanDepot on June That is the only documentation that I have, since I claim that I was not asked about months of reservesIf loanDepot can prove otherwise, I will be happy to drop my complaint Regards, [redacted] ***

San Diego Revdex.com Complaint #: [redacted] Borrower Name: [redacted] ***Complaint Date: 11/8/2014Borrower’s Complaint Filed with the Revdex.com:After filling out an online form on Lending Tree, or some site like that, and received an emailsolicitation from loanDepot.comI gave my information to the representative by phoneI got anemail several days later stating that I did not qualify for a refinance loanThe day after receivingthe disqualification email, I received a call from Baron Cox, also a loanDepot.com representative.I informed him that I did not qualify for the loanHe told me he was a loan SPECIALIST and couldwork with meI was under the impression that loanDepot.com was willing to make someconcessions on a loan because of the large amount of equity I have in the property (250% of themortgage balance)I gave him all my financial information and he said I would QUALIFY for arefinanceOf course, I would have to pay a $processing feeAfter having my propertyappraised and submitting all my documentation, [redacted] , a Senior Account Manager atloanDepot.com, informed me that the loan was ready to goAll I had to do was tell him wheremy ADDITIONAL RESERVES wereOf course there were no additional reservesSo now I am out$and have no prospect for a refinanceI spoke to Baron Cox about it afterwardsHe said hewould check into the possibility of a refund of my $I have not heard from himMyconclusion is that I was ripped off by loanDepot.com in a bait and switch operation.Borrower’s Desired Resolution:I want a refund of my $processing fee.loanDepot’s Borrower Complaint Summary:Borrower claims that his SrMortgage Banker, Baron Cox, said he qualified for a refinanceBorrower claims that loanDepot requested for additional reservesBorrower is requesting a refund of his $deposit.loanDepot Findings and Response:When Mr [redacted] spoke to his SrMortgage Banker on June 10, 2014, the borrower did qualify basedoff the information that transpired between him and his SrMortgage BankerAt that time,loanDepot originated the loan on Mr***’ property based on the information that he disclosedPer the guidelines for the loan program Mr***’ was trying to secure in a Conforming Fixed 30year loan on his investment, non-owner occupied property, months of reserves were requiredfrom the borrower to showThis guideline would be consistent for any lending institutionrefinancing an investment propertyMr [redacted] was charged a $lock feeThe fee is collected by credit cardPrior to collecting thisfee, loanDepot evaluates the customer’s needs and determines if they have a loan product that willhelp the customerThe company conducts an extensive screening process on the phone with thecustomer to collect data and find the proper program that will fit the customer’s needsIf there is amatch and the customer is interested in moving forward with loanDepot, a Lock Script is read overthe phone to inform the borrower of their proposed rate and fees, the length of the time theproposal is good for, and that the fee is non-refundableloanDepot then emails the customerinformation about moving forward with the loan.Mr [redacted] executed and signed the LoAgreement on June 12, where he acknowledged:“Your LoFee of $is NON-REFUNDABLE.”The credit card charge in the amount of $was agreed upon for the purpose of a lock feeThelock fee collected from the customer guarantees that the customer will receive the quoted rate andfees for a specific period of timeThe lock fee is used by loanDepot to secure the rate agreed uponand the loan product chosen by the consumer for a set period of timeIn this case, it was for 45daysAfter the lock fee is collected, loanDepot secures a position on the secondary market for thecustomer’s loan and ensures that the rate selected is available at any time over the period of thelock agreement.In addition, the $was also used for other expenses, such as to cover the cost of taking thatposition on the secondary market, the non-delivery fees assessed to loanDepot, and to cover otherservices ordered on the borrower’s behalf, such as property appraisal, credit reports, underwritingfees, etc.Because of the above information, loanDepot respectfully denies compensation of that $495amountPlease see the attached LoAgreement and Advance Fee Notification for yourreference.In conclusion, Mr [redacted] did qualify for the refinance initially when he spoke to his SrMortgage Bankerbased off the information that transpired between him and the SrMortgage BankerHowever, it wasrequired for the borrower to have at least months of liquid reserves since the property is a non-owneroccupied investment propertyFurthermore, loanDepot did not profit from this loan application, as weincurred expenses and losses on the borrower’s behalf that exceeded the $amountWe ordered anappraisal, ran credit reports, title reports, and were subject to losses on other services rendered duringthe processBased off the supporting documentation and explanations listed above, a refund of $isnot warranted to Mr***

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. 1. "After doing a thorough file review, there appears to be no viable evidence that supports this claim." Did they review the recorded conversation I had with [redacted] ? I sent him several emails regarding the appraisal coming in lower and he always responded via phone. I guess this is practiced at loan depot so that customers have "no viable evidence" on paper. What a scam!2. "loanDepot has no control over the appraisal process and cannot choose which appraiser to conduct the inspection." This is funny cause I do not remember selecting an appraiser; loandepot sent me the appraiser. I was never given an option to select an appraiser. Also, after the appraisal came in I asked to get it amended and requested another appraisal, however the Production Manager responded to me with well if you do that you risk losing your rate as well as the $495 "lock in fee". Please explain to me how I was able to "choose an appraiser". I wasn't even able to get a second appraiser which I was willing to pay our of my own pocket. You scarred me by stating that I will lose my rate and the $495 lock in fee. What a scam!3. It's your responsibility as a company to ensure your employees don't miscommunicate with customers. You should be paying for their mistake. Not me. Why am I paying $1,200 out of my pocket because of incompetent employees who can't communicate with customers? Or maybe you teach your employees to miscommunicate. What a scam!4. Of course I signed the documents. I didn't want to lose my rate nor my $495 deposit. And you are wrong the first time I brought this to your attention was my first email I sent to [redacted] weeks before I signed final documents. Of course since he did not respond via email I have "no viable evidence". If loandepot believes they made no mistake then please send BBB copies of the conversations I had with [redacted] . I'm sure you guys have the recorded audio since the line is supposed to be recorded...let me guess your response will be "we can't provide audio conversations, those are for internal purposes only". What a scam!loandepot is nothing but a dishonest company. I'm not the only one who feels this way. Go read all your reviews online. Seems like this happens quite often. I made a horrible mistake by not being careful. In fact what helped me decide to try loandepot was the fact that they are part of BBB. After this incident I will not fully trust companies part of BBB as obviously the BBB has lowered their standard for adding companies as part of their "trusted companies". Regards, [redacted]

February 23, Revdex.com complaint # [redacted] Borrowers: [redacted] and [redacted] RE: Loan Application [redacted] Property Address: [redacted] This response is in regards to the concerns that the borrowers, [redacted] and [redacted] have expressed regarding their refinance with loanDepot to the RevDex.comTheir initial goal with loanDepot was to refinance the property at [redacted] ***loanDepot was able to help them achieve this goal with their loan successfully funding on November 26, The borrowers came to loanDepot to discuss options of refinancing said property on August 26, A program was identified and their loan was locked into a conventional Conforming Fixed 15Year loan on August 28, Through the closing of their loan non-mortgage debt was set to be paid off Included in these debts was an IRS obligation that was dueUnfortunately, after their loan funded and the loan proceeds were disbursed some payments were sent to the incorrect mailing addresses in error The error was immediately rectified and new disbursement checks were issued and sent to the respective creditors The IRS debt accrued $worth of interest and due to these delays and errors loanDepot issued the borrower a concession check in the amount of $on February 6, to cover this fee and assist with any inconvenience the borrower may have been put through Said check was delivered via FedEx on February 9, to the borrower’s homeThe tracking number was [redacted] On February 9, Mrs [redacted] contacted our office to advise us that the IRS had not yet received the payment that was issued to themOur escrow vendor then advised that the check to the IRS in the amount of $2, had been returned by the mail carrier due to the incorrect city being listed on the address field Approval was then granted to issue the funds directly to the borrowers that they could issue payment directly to the IRS A wire in the full amount of $2, was sent to the borrowers’ bank account of February 10, On February 23, the borrowers provided loanDepot with proof that the payment was issued via cashier’s check to the IRSAt this time all disbursements have been completed and there are no outstanding debts to be paid through the proceeds of this loan As an additional customer service concession to the borrower LD Escrow issued a refund in the amount of $via checkThe concession was issued to reimburse the borrower’s 50% of the settlement fee they paid at closing and that was reflected on line of the final settlement statementThe borrower confirmed via email that the concession was to their satisfaction loanDepot at this time has addressed all concerns and respectfully declines any request for further monetary compensation loanDepot sincerely apologizes should the borrower feel their experience with us was anything less than satisfactory

San Diego Revdex.com Complaint #: [redacted] Borrower Name: [redacted] Complaint Date: 11/4/ Borrower’s Complaint Filed with the Revdex.com: Loan Depot is withholding Escrow and Insurance funds after our loan has closedThe loan closed on September 24, and the new loan was funded on October We have not been given a time when the escrow funds of several thousand dollars will be refundedAdditionally, we were told that we would have our insurance overage refunded via check and US postal service- yet we have not received these funds yet eitherLoan Depot is in violation of U.SCode § - Servicing of mortgage loans and administration of escrow accounts Borrower’s Desired Resolution: Proper dispersing of funds as per the loan agreement loanDepot Findings and Response: loanDepot mailed out the borrower’s reimbursement for their escrow account on October 30, in the amount of $For the reimbursement for the borrower’s property taxes, a check in the amount of $2,was overnighted via FedEx on November 13, Please note that loanDepot was at the mercy of the taxing authority for the borrower’s county in regards to the delays of disbursing the taxes The above information has already been communicated with Mrand Mrs***

Please see the attached Letter of Explanation regarding this complaint.Thank You.loanDepot’s Borrower Complaint Summary:Borrower states that as long as he does not back out of the refinance, the $deposit will be refunded back to him.Borrower claims there were communication issues between him and loanDepot in regards to this refund Borrower is requesting for his tax papers to be returned back to him.loanDepot Findings and Response:loanDepot sincerely apologizes for miscommunication that the borrower feels transpired between him andloanDepot regarding a refundA full refund was issued to Mr [redacted] in the amount of $to the Visa card endingin on 12/24/with a transaction ID number of [redacted] Mr [redacted] ’s loan was declined prior to theappraisal being completed due to the borrower’s write offs on his taxes, causing the debt-to-income ratio to be toohigh for loanDepot to lend uponOur records indicate that Mr [redacted] ’s tax documents were sent back to him via email through our securedocument exchange.In conclusion, loanDepot sincerely apologizes that Mr [redacted] ’s experience with loanDepot was anything less thansatisfactoryBecause services were not rendered in relation to the appraisal, a full refund of issued in the amount of$was issued.Should Mr [redacted] have any questions or concerns, he may contact the Customer Care Department at ###-###-####ext***Representatives are available to assist him Monday through Friday from 8am to 5pm, PST

Please see the attached Letter of Explanation and supporting documentation regarding this complaint.Thank You.San Diego Revdex.com Complaint #: [redacted] Borrower Name: *** [redacted] Complaint Date: 2/24/ Borrower’s Complaint Filed with the Revdex.com: “I began a loan application with Loan Depot on or around 9/25/I was charged a $"lofee," which was to be used to pay for the appraisal on the property (although, I'm sure the appraisal did not cost them $495)My application was approved, pending additional documentation prior to that fee being chargedLoan Depot asked for a ridiculous amount of documentationEvery time I would provide the requested documentation, they would come back and ask for moreI was told several times along the way that I would be contacted to schedule the closing of my loan, but that never happenedThe last communication I received from the representative working on my loan was on 12/5/(that communication was Loan Depot requesting an explanation of credit inquiries)Shortly after that, I received an email and a letter from Loan Depot telling me that they were sorry they were "unable to help" me with my loan needsI received no explanation for the discontinuation of the loan processNearly months was way too long for this processHowever, the biggest issue I had was that they constantly asked for more documentation after I provided what they previously asked forIt very much seemed like they did not want to give me the loan, but wanted to keep the money they charged meI ended up selling my property instead of refinancing, because the delays they had (after telling me I would be closing "within days" multiple times) left me in a bit of a bind.” Borrower’s Desired Resolution: I would like Loan Depot to refund the $fee they charged due to the delay in processing and lack of responsivenessI have sent several emails and called multiple times to request a refund, but no one responds and I only reach voicemail systems (messages are not returned, of course)This seems like an extremely shady business practiceI find it very interesting that I was able to reach multiple people at the very beginning of the process and at times while providing documentationHowever, after I received the email stating they were unable to help me with my loan, they became completely unavailable and unresponsive loanDepot’s Borrower Complaint Summary: Borrower claims that her application was approved, and loanDepot requested a lot of documentation after the approval Borrower claims that there was communication issues between her and loanDepot personnel Borrower believes that loanDepot did not want to give her the loan and only wanted to keep the money that was charged to herBorrower is requesting a refund of $ Borrower believes the cost of the appraisal was less than $ loanDepot Findings and Response: The borrower’s loan was conditionally approvedWhat this means is that the loan’s approval was contingent on the conditions specified by Underwriting in order to get Final Approval on the loanThe borrower’s loan never received a final approval by our Underwriting DepartmentPer the approval, the borrower was requested from Underwriting to provide more documentation in order to get the final approval on the loan loanDepot sincerely apologizes that the borrower felt that there was communication issues between her and loanDepot staffThis has been researched and will be addressed internally loanDepot had every intention of giving Ms [redacted] the loan, however we had to decline her file because her credit score dropped below the minimum for the program she was attempting to obtainAt the time of application on September 23, 2014, Ms [redacted] applied for the loan under the name *** [redacted] in where her credit score was high enough for loanDepot to do a loanHowever, during process, Ms [redacted] got married, and loanDepot had to pull her credit report under her new name of *** [redacted] When loanDepot did this, it was discovered that her credit score dropped below the minimum requirement for the loan she was attempting to secure On October 1, 2014, Ms [redacted] was charged $as a lock fee which was 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 needsIf there is a match and the customer is interested in moving forward with loanDepot, a Lock Script is read over the phone to inform the borrower of their proposed rate and fees, the length of the time the proposal is good for, and that the fee is non-refundableloanDepot then emails the customer information about moving forward with the loan Ms [redacted] executed and signed the LoAgreement and Advance Fee Notification on September 30, where she acknowledged: “Your LoFee of $is NON-REFUNDABLE.” The credit card charge in the amount of $was agreed upon for the purpose of a lock feeThe lock fee collected from the customer guarantees that the customer will receive the quoted rate and fees for a specific period of timeThe lock fee is used by loanDepot to secure the rate agreed upon and the loan product chosen by the customer for a set period of timeAfter the lock fee is collected, loanDepot secures a position on the secondary market for the customer’s loan and ensures that the rate selected is available at any time over the period of the lock agreement In addition, the $was also used for other expenses, such as to cover the cost of taking that position on the secondary market, the non-delivery fees assessed to loanDepot, and to cover other services ordered on the borrower’s behalf, such as the property appraisal, credit reports, underwriting fees, etc Because of the above information, loanDepot respectfully denies compensation of that $amountPlease see the attached LoAgreement and Advance Fee Notification In conclusion, loanDepot sincerely apologizes that Ms [redacted] ’s experience with loanDepot was anything less than satisfactory and in regards to the miscommunication between her and loanDepotWe could not do the loan because the credit score dropped during the processing of her loan below the minimum requirement of the loan program attempted to be securedBased off of this and according to the terms executed on the attached LoAgreement and Advance Fee Notification, a refund of $is not warrantedloanDepot did not profit in any way on this transaction, as we were subject to additional costs with the appraisal, credit reports, underwriting fees, etcIn fact, the appraisal alone cost $595.This cost exceeded the amount of lock deposit collectedPlease see the attached appraisal invoice Should Ms [redacted] have any additional questions or concerns, she may contact the Customer Care Department at [redacted] ext***Representatives are available to assist her Monday through Friday from 8am to 5pm, PST?

Mr [redacted] was transferred over to loanDepot by a third-party company to inquire about takingcash out of his propertyMr [redacted] spoke to a loanDepot SrMortgage Banker and sharedinformation to the SrMortgage Banker in an attempt to hear some refinance optionsWhile Mr[redacted] was on the phone with the SrMortgage Banker, there was a bad connection, and the Sr.Mortgage Banker asked Mr [redacted] if he can call him back to obtain a better connection to thephone number of [redacted] Mr [redacted] agreed to this, and this was the only outbound callthat was made out to Mr [redacted] from loanDepotWhen loanDepot was notified by the Revdex.comregarding Mr [redacted] ’s complaint on March 20, 2015, this was the first that loanDepot wasinformed that Mr [redacted] wanted to be put on our Do-Not-Call listOn March 20, 2015, his phonenumber of [redacted] was successfully added to loanDepot’s Do-Not-Call list so he should not receiveany solicitation calls from loanDepot.Should Mr [redacted] have additional questions or concerns, he may contact loanDepot’s CustomerCare Department at 888-337-ext***Representatives are available to assist Monday throughFriday from 8am to 5pm, PST

Hello,I have recently filed a complaint against LoanDepot.com I had requested they do not continue the loan process being that they have not kept the initial agreement and wanted me to sign incorrect paperwork They pulled my credit again on 2/ Which was not authorized or requested to do so I noticed they used the same name as they did in Oct this time This was just for informational purposes to add with my complaint.Thank you[redacted]

San Diego Revdex.com Complaint #: [redacted] Borrower Name: [redacted] ***Complaint Date: 11/19/2014Borrower’s Rebuttal Filed with the Revdex.com:"In conclusion, Mr [redacted] did qualify for the refinance initially when he spoke to his SrMortgageBanker based off the information that transpired between him and the SrMortgage Banker.However, it was required for the borrower to have at least months of liquid reserves since theproperty is a non-owner occupied investment property."Again, I was initially disqualified by the nMortgage Bankers at LoanDepot.com for therefinance , a fact I reminded the SrMortgage Banker of when he contacted me laterHe assuredme that he was a "specialist" and assured me that I could qualify.The business' response is self contradictory "Mr [redacted] did qualify" yet "However, it was requiredfor the borrower to have at least months of liquid reserves"Thus I "qualified" yet did not meetthe "requirements"This does not make senseI do not think that I should have to pay $495because LoanDepot.com does not realize that "qualify" and "meet requirements" aresynonymous.I have also looked at the "lock-in" agreement which appears to protect the company from me ina court of law, yet I still feel that I was a victim of a "Bait and Switch" operation perpetrated byLoanDepot.com.Regards, [redacted] ***Borrower’s Desired Resolution from Initial Complaint:I want a refund of my $processing fee.loanDepot’s Borrower Complaint Summary:Borrower claims that he was disqualified by a non-SrMortgage BankerBorrower claims that he was assured he qualified, and thinks it is contradictory that he initiallyqualified, but didn’t meet the requirementsBorrower feels that he was a victim of a “bait and switch” operation.loanDepot Findings and Response:The person who took the application for Mr [redacted] is nationally and state-specifically licensed forCalifornia through the Nationwide Mortgage Licensing System and Registry (NMLS)Regardless oftitle, the SrMortgage Banker/Specialist was authorized to speak to Mr [redacted] to discuss rates, fees,loan options, etcAs stated in the initial response, the borrower was initially eligible based off the information thatwas discussed between him and his SrMortgage Banker at the time of applicationAt said time,loanDepot originated the loan on Mr***’ property based on the information that Mr***disclosedIt was later found out while the loan was in process that he did not meet the months ofreserves which were a requirement for his refinanceMr***s failed to disclose this informationduring the origination stage of his loan requestloanDepot apologizes that Mr [redacted] feels that he was a victim of a “bait and switch.” After athorough file review, there is no viable evidence that shows that this borrower was a victim of “baitand switch.”In conclusion, our stance remains the same in not approving a refund in the amount of $to Mr.***As stated in the initial response, loanDepot did not profit from this loan application, as weincurred expenses and losses on the borrower’s behalf that exceeded the $amountWe ordered anappraisal, ran credit reports, title reports, and were subject to losses on other services rendered duringthe processWe regret to hear that Mr***’ experience with loanDepot was anything less thansatisfactory and that we could not meet Mr***’ refinance needsHere at loanDepot, we practiceresponsible and fair lending

San Diego Revdex.com Complaint #: [redacted] Borrower Name: [redacted] Complaint Date: 10/7/ Borrower’s Complaint Filed with the Revdex.com: I contacted the loan depot in April to obtain financing for a home loanThey requested various documents which were supplied, and I was pre approvedI made an offer on a home shortly there after, but was unable to continue the transaction because the agent at loandepot would not return calls, and I came to find out he had left the company ( [redacted] ) Fter discovering this I was assigned a new rep ( [redacted] ) and he was supplied with more documentation to complete my loan package, we made an offer that was accepted and loan depot was given all the pertinfo including the "close of escrow" dateDespite providing everything they required in a timely manor the close date went by, they would not return phone calls or correspondence with myself, the broker, or the escrow companyI had paid $for an appraisal, and due to their inability to perform I have had to start the whole process over with another lenderI have called, and e mailed them requesting a refund for the money I paid for the appraisal as they "failed to perform" Borrower’s Desired Resolution: They need to refund me the money I paid for the appraisal loanDepot’s Borrower Complaint Summary: Borrower claims that there were communication issues with the loanDepot staff Borrower is requesting a refund of the $because loanDepot “failed to perform.” loanDepot Findings and Response: loanDepot apologizes that the borrower feels that there were communication issues between loanDepot and if their experience was anything less than satisfactoryAfter reviewing the file, the borrower was out of the country for some time during the processing of his loan, which caused some delays and communication gaps between him and loanDepot loanDepot charged Mr [redacted] $as a lock feeThis fee is collected by credit cardPrior to collecting the lock 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 needsIf there is a match and the customer is interested in moving forward with loanDepot, a Lock Script is read over the phone to inform them of their proposed rate and fees, the length of time the proposal is good for, and that the fee is non-refundableloanDepot then emails the customer information about moving forward with the loan Mr [redacted] executed and signed a LoAgreement where he acknowledged on August 2, 2014: “If you cancel or withdraw your application for any reason, the fee is NON-REFUNDABLE” The credit card charge in the amount of $was acknowledged for the purpose of a lock feeThe lock fee collected from the customer guarantees that the customer will receive the quoted rate and fees for a specific period of timeThe lock fee is used by loanDepot to secure the rate agreed upon and the loan product chosen by the consumer for a set period of timeIn this case, it was for daysAfter the lock fee is collected, loanDepot secures a position on the secondary market for the customer’s loan and ensures that the rate selected is available at any time over the period of the lock agreement In addition, the $was also used for other expenses, such as to cover the cost of taking that position on the secondary market, the non-delivery fees assessed to loanDepot, and to cover other services ordered on the borrower’s behalf, such as property appraisals, credit reports, underwriting fees, etc Mr [redacted] decided to go with another lender while he was in process with loanDepot, in which we had no choice but to ultimately cancel out his file In conclusion, loanDepot apologizes for the borrower’s experience with loanDepotloanDepot was unable to continue with this purchase transaction as it was found out the borrower was going with another lender while in process with loanDepotBecause of this and the supporting information stated above, loanDepot respectfully denies compensation of that $lock feeHere at loanDepot, we have established responsible lending and customer service as our core values

My resolution would be that loan depot refund the fees they charged, plus the money they had me spend for water testing and a termite inspection 150.00$ It's my feeling they had no intension of following thru with this loan

Thank you for assisting resolution in this matter.My desire is two fold:First that Loan Depot provide a complete copy of the file referenced as Account Number: ***, and then certify that said document and all copies and associated files have been destroyed.Second that this complaint remain on file with your organizationI have contacted them on no less than occasions, each time resulting in failure to resolve this matter.Sincerely,*** ***

San Diego Revdex.com Complaint #: ***Borrower Name: *** ***Complaint Date: 1/13/2015Borrower’s Complaint Filed with the Revdex.com:The broker (salesman) with whom I was working argued loudly and vehemently with me andeven attempted to intimidate and force me do things I did not like or wish to do
He wasoverbearing and rude - after having submitted by long distance fax every pertinent document inmy possession he even went so far as to tangentially or indirectly accuse me of having eithercreated or "doctored" documents (by using a program commonly available on the internet) tomake my "credit worthiness" acceptable to his company underwriters!!!! I was outraged at hisnot-so-subtle suggestion that I attempted to defraud him or his company!!!Our lastconversation was fraught with very stressful argument - even my eventual shouting at him tostop trying to bully me into submission!!! If that man worked for me I would fire him on the spotfor misconduct!Borrower’s Desired Resolution:I never wish to be contacted by anyone at this company by phone again - ever! An apology letterwould be nice but that certainly is not expectedBased on the way I was treated I expect hisupper management condones such behavior on the part of its sales personnelI still wish to do arefi but not with this outfit!loanDepot’s Borrower Complaint Summary:Borrower is upset with his the experience he had with his SrMortgage BankerHe would also like anapology letter.loanDepot Findings and Response:loanDepot sincerely apologizes for Mr***’s experience with loanDepotAlthough this may bean isolated case, loanDepot takes it very seriously, and we have addressed Mr***’s concernsinternallyPlease know we moved as swiftly and proactively as we could to address the problem once itbecame knownPer Mr***’s request, we have successfully added his contact information toloanDepot’s Do-Not-Contact registry on January 15, so that he does not receive any moresolicitation calls from loanDepot.Should Mr*** have additional concerns, he may contact the Customer Care Department at ***
*** *** ***Representatives are available to assist him Monday through Friday from 8am to5pm, PST