LoanDepot.com

loanDepot’s Borrower Complaint Summary:Borrower claims that loanDepot never intended to follow through with the loan processBorrowerclaims that loanDepot spent months stringing the process alongBorrower claims there were communication issues between him and loanDepotBorrower is
requesting a refund of the $stafee.loanDepot Findings and Response:loanDepot apologizes that Mr*** feels as if loanDepot never intended to follow through withthe closing of his loanIt is always loanDepot’s intention to assist all borrowers who inquire about aloan to accomplish their mortgage goalsFurthermore, loanDepot sincerely laments that Mr.***’s loan process took longer than anticapated.Mr*** initially came to loanDepot on 5/19/to refinance his property into a ConformingFixed Year program with a loan amount of $50,While the loan was in process, it wasdiscovered that there was an open judgment of about $3,he needed to pay his ex-spouse, andloanDepot would need court approval to proceed with the loanloanDepot had to decline out hisinitial application at that time, and informed Mr*** to fix the issues on his credit and come backto loanDepot and see if we could do a refinance for him when he returnedAfter doing a review ofthe file, loanDepot found no viable evidence in where Mr*** would be promised the loan if hegot the issues on his credit fixedWhen Mr*** came back to loanDepot, loanDepot no longeroffered loan programs with loan amounts less than $80,000, and therefore, currently has no loanoption available for Mr***loanDepot sincerely apologizes for any miscommunication that may have transpired between himand loanDepotHis concerns have been escalated to management and have been addressedinternallyMr*** 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*** executed and signed the LoAgreement on May 30, 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, etcFurthermore, the borrower’s appraisal costs totaled $alone Because of the above information, loanDepot respectfully denies compensation of that $495amount In conclusion, loanDepot sincerely apologizes that Mr***’s experience was anything less thansatisfactoryloanDepot could not do the initial loan due to an open judgment needing to be paid off, andwhen Mr*** came back to loanDepot, the program was no longer available due to the loan amountbeing less than $80,loanDepot did not profit from this loan application, as we incurred expensesand losses on the borrower’s behalf that exceeded the $amountWe ordered an appraisal, rancredit reports, title reports, and were subject to losses on other services rendered during the process.Based off the explanations above, a refund of that $is not warranted.Should the borrower have any questions or concerns, he may contact the Customer Care Department at888-337-extRepresentatives are available to assist him Monday through Friday from 8am to5pm, PST

San Diego Revdex.com Complaint #: ***
Borrower Name: *** ***
Complaint Date: 11/5/
Borrower’s Complaint Filed with the Revdex.com:
I was Contacted By them Via MailI called and verified with there team that the information they
sent me was accurateI gave them My S.Sand Again they reported they are the experts in Home
mortgages and Loan REFI/MODS etc., And they could do A REFI with out any problemsAfter
week and researching the market they pursued me to pay the $Appraiser costLoan
Depot did not Date the Non Refundable form, Probably because they wanted to wait until after
the AppraisalThey Deceived meThere Non Refund form States : loanDepot evaluates the
customer’s needs and determines if they have a loan product that will help the customerThat is
exactly what they did and Reported they could DO A REFIAlso
When Mr*** came to loanDepot on September 11, 2014, he spoke to his SrMortgage
bankerAgain they Contacted me, and Yes I spoke with a SENIOR Mortgage banker, He should of
known if I can qualify for a REFI, Or why contact MeHe never said If the Appraisal comes back
Below a certain Number you will lose your $In addition the Form Reports :
The company conducts an extensive screening process on the phone ( Both Sides Agreed we can
REFI )
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 over the phone to inform them of their proposed rate and fees, the length of the time the
proposal is good for, and that the fee is non refundableThat was NEVER DONE ! Finally They
Lock in FEE I signed States : The FEE is Non refundable If : Your Application is Declined based on
Inaccurate Information Provided by you( I was completely Honest with them, I advised them the
house across the street is on the market for 349K my house should be worth at least 260K The
House door down sold for 270K month ago, THEY Checked and verified I was accurateI feel
Loan Depot and I should a least agreed on who they chose to do the Appraisal, Because I found
several Mistakes He made on my AppraisalHe compared houses not in my neighborhood
He never compared the house across the street or the one that just sold on my StreetI
installed a thousand Water Filter system which he did not put in his reportLoan Depot never
replied to my Appeal form I sent to them
They have to take some Responsibility Here, They and I Agreed my House was worth what I
believe is still TrueI had No say in there appraisal ProcessI'm willing to meet them half way
with an $refund for there time and expense
Regards,
*** ***
loanDepot’s Borrower Complaint Summary:
loanDepot’s initial position in denying the refund of $remains the sameA lock script was read over
the phone to the borrower explaining the terms and conditions to the borrower, as well as stating that
the $deposit is non-refundablePer loanDepot’s company policy, we are unable to release those
recordings to the borrowerFurthermore, as stated in the initial response, loanDepot has no control
over the appraisal process and cannot choose which appraiser to conduct the inspectionThe appraisal
process and inspection must be done independently as to ensure there is no bias or predetermined
value or agendaThe impartial local/certified appraiser (valuation expert) completes the appraisal based
on the similar and best data available in the marketloanDepot has no reason to believe that an
appraisal completed by an unbiased, impartial local, licensed expert is incorrect
In regards to the borrower’s appeal, the appraiser who conducted the appraisal stated the following:
“Each property the borrower submitted is ‘across the freeway’ as he said the OA comps all areSo that
argument is null and voidNone of the OA comps are near ApartmentsAs for the borrowers properties
# Further away than all comps used (maybe tied one in farthest distance# was a private transaction,
not in MLSFurther research indicates it was flipped, bought NEW never lived in and flipped privately#
3- story dwelling, much farther awayNot a comparable to the subject# sold for $and # sold
for $185KNone are good compsThe appraised value of subject was $232kThe subject is at the
extreme south of the market area (as explained in the appraisalMy value stands as-is”
Because of the facts stated in the initial response to Mr***’s complaint, no refund is warranted
to Mr***We regret that we could not meet Mr***’s refinance needs, and that Mr
***’s experience with loanDepot was anything less than satisfactory

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.Company cited my interest in a loan for a second home in *** **.* 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 *** **, 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 *** *** **, ***, ** ***, and to which they cited in their letter that: " Recent home value increases in the *** area have prompted a review of your account and it hasbeen determined that we may now be able to refinance you into the CONFORMING Yr Fixed Cashout 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,
*** ***
* We no longer own the home in *** **As for our home in ***, **it was a cash saleno financing

San Diego Revdex.com Complaint #: ***Borrower Name: *** & *** ***Complaint Date: 1/10/2015Borrower’s Complaint Filed with the Revdex.com:On 11/5/I started the process to refinance with Loan Depot which states they specializeregarding V.AloansI provided the necessary documents which was
time consumingI paid forthe appraiser $and continued on with the processOn 1/7/Loan Depot told me weare not eligible for the V.Aloan because my husband was not in the reserves for years which isa requirementMy complaint is I should of been told this the beginning of the loan processI amrequesting a full refund for the appraiser because I feel the process should of never proceeded tothis length that is my complaint.Borrower’s Desired Resolution:Requesting a full refund of $for appraiserShould of been told the first day we did notmeet requirement due to lack of years in reserveSpecializing with V.Aloans should of been toldday one of our conversation.loanDepot’s Borrower Complaint Summary:Borrower claims that loanDepot told her they are not eligible for the VA loan because her husbandwas not in the reserves for yearsBorrower is requesting a refund of $because they should have been informed this at thebeginning of the process.loanDepot Findings and Response:After doing a thorough file review, it was discovered while in process that Mr*** did not servethe year requirement in the ReservesBecause of this, the file was respectfully declined on January12, As a customer service concession due to the miscommunication between the borrower andloanDepot staff regarding the years of service requirement for the Reserves, a full refund of $325was successfully processed on January 16, to the Visa card ending in ***The transaction IDnumber is ***.In conclusion, loanDepot apologizes for the inconvenience Mrand Mrs*** experienced regarding theyears of service requirement for the Reserves which ultimately led to the decline of their loanBecauseof this, we have issued a full refund in the amount of $Here at loanDepot, we have establishedresponsible lending and customer service as our core values, and take all complaints seriously to ensurethat our staff abides by our core beliefs

San Diego Revdex.com Complaint #: ***
Borrower Name: *** ***
Complaint Date: 10/8/
Borrower’s Complaint Filed with the Revdex.com:
I started a re finance with Loan Depot to consolidate my billsAt the beginning I was told they
would do loanI paid for appraisal and signed all
disclousers and applicationThey then told me I
needed to close the accounts they were going to pay offTo send them their addresses and
persons I spoke to when it was closedI even spoke with a person in their office on a three way
call to close some of themI did close my credit cards and other loans they were going to pay off
Then they told me unfortunately they were not going to be doing loanNow they have different
reasonsI have all documentation of them asking me to close accountsMy problem is I would
not have closed all my accounts if they had told me it was pending the loan approvelI even
closed accounts that were under my daughters and my name because they said I was a owner
with themNow I have bad credit because my accounts are closed and they have outstanding
balancesHow can they do that ? can they do that to customers?I feel someone dropped the
ball and then looked for every excuse not to do loanNow my daughters have closed accounts
because of Loan Depots requests tooI spoke to several different people thereThey have
recordings of all our conversations so they should see how they Misled us to believe they were
paying off our debtNow I cant even apply anywhere else for a home equity loan because of my
bad credit
Borrower’s Desired Resolution:
I feel they need to do what was told to meIf not, I feel they need to pay off those credit cards
and loans they made me closeThey need to fix this problem it affected my credit and my
daughters credit tooThey cant tell people they are going to pay off accounts and then not
follow thruThis was bad service and miss- leading information that they gave to meI do not
want to talk about this anymore with them, everytime I talk to someone different they tell me
they are going to look into it and then I get a different reason why they didn't do loanMy
biggest problem is I still have a lot of accounts closedI want this problem FIXEDThey need to
pay off my accounts they told me to closeThis is not fair to me or anyone elseThis should not
have happened
loanDepot’s Borrower Complaint Summary:
Borrower claims that loanDepot needed to have the accounts closed that were to be paid off, and
was informed multiple reasons on why loanDepot could not do the loan
loanDepot Findings and Response:
Ms*** came to loanDepot to discuss options of refinancing her property located at *** ***
Road, Cotulla, TX *** on July 17, 2014, and locked in to a Conforming Fixed Year loan on July
21, At the time of application, it was not disclosed that Mr***, the co-borrower, was
self-employed and had Schedule C losses on the tax returnsThis increased the total debt-to-income
ratio for the loanIn attempts to lower the debt-to-income ratio and contingent to the loan approval
set forth by loanDepot’s Underwriting department, the borrower was requested to close out the
credit accountsThis was a requirement in order for the loan to be final approved
During the process when the tax returns were being reviewed to accommodate for additional
income to lower the debt-to-income ratio, there was rental income reporting on the Schedule EThe
address listed for this rental income was the same as the subject property at *** *** Road, Cotulla,
TX ***Processing inquired about this, and Ms*** acknowledged that her business, which is
an RV park, is located on acres of the subject parcelloanDepot was not made aware of this
information prior to this discoveryAs a result, the said property was determined to be a mixed
use/income production propertyAt this time, loanDepot does not have programs for this particular
type of property classification
Because of these contributing factors, loanDepot had to respectfully decline Ms***’s loan
application
In conclusion, the borrower was requested to close out her credit card accounts contingent to the loan
approval and to lower the total debt-to-income ratio on the loanWhen the loan was in process, it was
found out that the property was an income-producing property, automatically disqualifying the property
from refinancing with loanDepotAt loanDepot, we have established responsible lending and customer
service as our core values, and take all complaints seriously to ensure that our staff abides by our core
beliefsWe regret that we could not meet Ms***’s refinance needs

Complaint Number:
***
Customer: ***
Loan #:
***
loanDepot.com is a direct-to-consumer mortgage lender
servicing multiple states. The Company
has established responsible lending and customer service as its core values. loanDepot.com has a Customer Care Department
as well as a Compliance Department that 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 costsThe lock fee is a
non-refundable 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.
After a review of the customer’s loan request we have
determined that Mr*** is not eligible for a refund of the lock depositHis
loan is currently still active and being processed by our loan team. Once the loan is funded Mr*** will
receive the $fee in question as a credit to their closing cost. Per the terms of the signed lock agreement a
refund is not warranted. The customer
fully authorized the charge
Included are the following documents:
1)
Signed Lock Agreement
*** ***
Customer Care Manager
###-###-####

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
[Borrower was not re-disclosed as required by law & borrower did not have three-day waiting period under TILA]
Regards,
*** ***

San Diego Revdex.com Complaint #: ***
Borrower Name: *** ***
Complaint Date: 10/7/
Borrower’s Complaint Filed with the Revdex.com:
My husband refinanced our house May going from a year mortgage to a year one
At the onset of the discussions I specifically
asked if we could make weekly payments because I
HATE making a large monthly payment to anyoneI was told yes I could, but you have to wait for
several payments to be processed firstIn September I started paying weekly so by October 1st,
the October payment (and then some) would be paid on timeI looked at my loan account on
09/and saw they were applying ALL of my payments to PrincipalI called them to make sure
they corrected how they applied it so that monies went to the interest, escrow and principalI
was then told I could not make weekly paymentsI was told I had to fill out a form and have
THEM deduct my payment from my account and it would only be done every other FridayI
explained to the lady what we were told and she said "No, you can't do that and we can't
guarantee your payments would be applied correctly"WTH!!! Product_Or_Service: year
mortgage Account_Number: ***
Borrower’s Desired Resolution:
Their representatives are the ones who screwed upI want to keep making my payments weekly
and will have a "note" on the payment that the payment is for the monthly mortgageThis will
allow us to pay the loan off in 8-years rather than how they want to do it
loanDepot’s Borrower Complaint Summary:
Borrower claims that she was told she can make weekly payments to her mortgage, and wants
loanDepot to accommodate her weekly payments to her mortgage
loanDepot Findings and Response:
loanDepot apologizes for any miscommunication regarding the weekly payment plan regarding her
mortgageHowever, loanDepot has never had a weekly payment planWhat we do have is a budget
drafting plan that serves as a budgeting tool to our borrowersEvery other week, payment is taken
out of the borrower’s account in the amount specified by the borrower to budget for the complete
monthly paymentOnce the complete monthly payment is collected from the borrower, that money
is then applied to the mortgagePlease understand that the money taken out every other week isn’t
applied directly to the mortgage at that time, but it is set aside to collect for the complete monthly
paymentOnce the total monthly payment is collected, then it is applied to the mortgage
In conclusion, loanDepot does not offer weekly payment plans and never hasWhat we can offer you is
the budget drafting plan explained aboveFor more details, you can contact our Servicing department
directly at 877-420-Monday through Friday from 5am to 5pm, PST or by email at
[email protected]

Please see the attached Letter of Explanation regarding this complaint.Thank You.loanDepot’s Borrower Complaint Summary:Borrower stated that the appraised value came in lower and loanDepot offered an FHA loan with a higherrate Borrower is requesting her appraisal be transferred to
another lender loanDepot Findings and Response:The appraisal inspection was conducted on Ms***’s property on 10/27/2014, and loanDepot receivedthe appraisal report that valued her property at $133,compared to the $150,value that wasestimated between Ms*** and her SrMortgage Banker at the time of application on 10/3/2014.Initially, Ms*** was locked in to a conventional loan productHowever, because of the lower propertyvalue, this caused Ms***’s loan-to-value (LTV) to increase from 83.667% to roughly 94.737%, and thebest loan option available to Ms*** was an FHA loan which was fully disclosed The appraisal completed on Ms***’s property was done for the purpose of a non-FHA loanUSPAP doesnot permit an appraiser to readdress or reassign an appraisal reportAs such, appraisals completed by anappraiser for another Lender/AMC will not be allowed for conventional programs.The appraisal conducted on Ms***’s home was not for the purpose of an FHA loan and not associatedwith an FHA numberA copy of said report was provided to Ms*** for her records upon receipt On November 3, the option of an FHA loan product was presented to Ms*** as an alternative dueto the appraised value coming in lower than originally anticipated for your propertyHowever, an FHAcase number was not initiated and an FHA appraisal was not completed since Ms*** ultimately electedto withdraw her loan application and proceed with another lenderPursuant to Ms***’s request, herloan requested with our company was cancelled HUD/FHA will permit the use of an appraisal by any holder of the case number, regardless of client name;previous appraisals completed for FHA transactions will need to be considered for the life of theappraisalThis would not apply in Ms***’s case since an FHA case number was not assigned and an FHAappraisal was not completedHad the original loan product originated been FHA, an FHA case numberwould have been assigned and an FHA appraisal completedThen said items would be transferred toyour new lender in accordance to HUD/FHA requirements loanDepot cannot transfer appraisals completed for conventional loan products to another lenderTheyalso cannot be utilized for the purpose of an FHA loanMs***’s new lender will have to order a newappraisal report In conclusion, loanDepot apologizes that Ms***’s experience with loanDepot was anything less thansatisfactoryloanDepot will not transfer a conventional appraisal to a different lenderIf Ms***’s appraisalreport was done for the purpose of an FHA loan, then loanDepot would be able to transfer to appraisal reportto the new lender in accordance to HUD/FHA requirements Here at loanDepot, we have establishedresponsible lending and customer service as our core values

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 is the Letter of Explanation and supporting documentation regarding this complaint. Thank You.San Diego Revdex.com Complaint #: *** Borrower Name: *** *** Complaint Date:
3/6/2015 Borrower’s Complaint Filed with the Revdex.com: I was inquiring about re-financing my mortgage and they contacted me after an on-line questionnaire I completed. So we paid the fee and they sent us the loan paperwork and promised us a $220 per month savings on our mortgage payment, all we had to do was submit some paperwork, sign and documents and then schedule the appraiser. During the process I asked a few times about the value of my house and what would happen if it was lower, the loan officer told me not to worry, that under-writing would adjust the numbers and I would just have to pay a few more dollars a month on my new mortgage payment. Then the appraisal came back, much lower than I thought (the appraiser didn't even use comps that were anywhere close to my neighborhood!). I was then told that my loan would not be funded due to the value of my home. I was not even presented with any alternative financing offers, even though I had inquired with the initial representative about an FHA streamline re-finance. I feel I was directed to this loan due to the higher commission. I feel as if I had been trapped into giving them a $395 "good faith" deposit and was led to believe one thing and then presented with a much different outcome. LoanDepot also would not even quote me any rates unless they ran my credit report and I completed an application. When the customer service representative contacted me about my experience I told her I would like my deposit back, but she presented me with the "you signed the document that this wasn't guaranteed" excuse and dismissed my complaint. After doing some research on-line I have found that I am not alone in this experience with LoanDepot. Borrower’s Desired Resolution: I would like my $395 refunded to me. loanDepot’s Borrower Complaint Summary: Borrower claims that loanDepot promised them a loan unless they submit some paperwork, sign documents, and schedule the appraiser. Borrower expressed concerns in regards to the appraisal . Borrower feels that he was trapped into giving loanDepot the $395 deposit, and he is requesting a refund of that deposit. loanDepot Findings and Response: loanDepot apologizes to the borrower for any miscommunication that he feels may have occurred in regards to loanDepot promising them the loan. However, Mr. ***’s loan was never approved by the Underwriting department as the appraised value of the subject property came back lower than expected. loanDepot has no control over the appraisal process and cannot choose which appraiser to conduct the inspection. The appraisal process and inspection must be done independently as to ensure there is no bias or predetermined value or agenda. The impartial local/certified appraiser (valuation expert) 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 incorrect. At the time of application, Mr. *** estimated the value of his property at $170,000. However, the appraisal valued his property at $158,000. loanDepot charged Mr. *** $395 as an appraisal fee collected by credit card. 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 to find the proper program that will fit the customer’s needs. On January 31, 2015, Mr. *** executed and signed an Appraisal Fee Agreement where she acknowledged: “The Appraisal Deposit of $395.00 is non-refundable if an appraisal has been completed on the subject property…If your application is declined, even if the appraised value is not what you expected, and an appraisal has been completed, you will not receive a refund of this appraisal deposit.” On February 25, 2015, Mr. ***’s loan was respectfully declined due to low value. Because Mr. *** executed the Appraisal Fee Agreement and services were rendered with the appraisal, a refund of his $395 deposit is not warranted. Attached are the Appraisal Fee Agreement and the Appraisal Report. In conclusion, loanDepot apologizes for any miscommunication that occurred between Mr. *** and loanDepot. Mr. ***’s loan was never approved by the Underwriting department, and ultimately, his loan was declined due to low property value in where loanDepot has no control over the appraisal process. Furthermore, because Mr. *** executed the Appraisal Fee Agreement and services were rendered with the appraisal, Mr. ***’s request for compensation of the $395 is respectfully denied. Here at loanDepot, we have established responsible lending and customer service as our core values, and take all complaints seriously to ensure that our staff abides by our core beliefs. We regret that we could not assist Mr. *** in meeting his mortgage goals. Should Mr. *** have additional concerns, he may contact our Customer Care Department at *** ext.***. Representatives are available to assist him Monday through Friday from 8am to 5pm, PST

San Diego Revdex.com Complaint #: ***
Borrower Name: ***
***
Complaint Date: 2/24/
Borrower’s Complaint Filed
with the Revdex.com:
“Started my
Refinance on my home with loandepot.com in September Dragged on and on
Months went byPoor customer serviceThey would block my phone calls when
calling to get answersLied numerous times about costs and timeframesTried
to hide money in the loan in different areasHad to pay an upfront fee of $
which they say I cannot get back because it was for the appraisal, but then my
loan documents included $for appraisal fee? Said they were giving me a
discound on closing, but just took money out for paying my home owners
insurance and applied it to my "Credit"There was always something
they needed document wiseAfter months I signed papers, because I didnt want
to lose my moneyThey screwed up the documents, lied to me on several
occasions about it, then told me I needed to resign my closing documentsIn
one day they ran my credit times, times in total in the monthsAt that
point I talked to a worthless "Manager" asking to cancel and I no
longer wished to work with loandepot.com"Manager" called me a liar,
that the new company I was working with could not give me the numbers I was
getting for my refinanceHorrible experience alltogether, months of time
wasted, and my $I recommend that no one do business with this company
Especially since their slogan is "customer service is our number one
priority!"
Borrower’s Desired Resolution:
I would like my $back for the appraisalAnd I would
like the company to cancel my case number with HUD so I can move on to a new
companyAlso, I would like them to call the credit bureau's and remove all
of the credit inquries.
loanDepot’s Borrower Complaint Summary:
1. Borrower claims that there was communication
issues between him and loanDepot staff
2. Borrower claims that he was lied to numerous
times and that loanDepot tried to hide costs in different areas of the loan
3. Borrower claims that he was charged $as an
upfront fee for the appraisal, and he is requesting a refund of this deposit
4. Borrower claims loanDepot made mistakes on the
closing documents
5. Borrower claims that loanDepot pulled his credit
numerous times and is requesting loanDepot to remove all the inquiries
loanDepot Findings and
Response:
1. loanDepot apologizes that Mr*** felt like
there were communication issues between him and loanDepotThis will be
researched and addressed internally
2. After a review of Mr*** loan, the borrower
was initially locked in to a 4.375% FHA Fixed Year loan with -1.5% discount
points on October 20, Due to unforeseen delays, the rate unlocked and was
re-locked to current market conditions at that timeFurthermore, the borrower
received a better offer from another lender, and loanDepot was able to do a
price match at a rate of 3.875%loanDepot was able to get the pricing
exception that had better pricing from the other lender, but in the end, Mr
*** decided not to continue with the loanloanDepot apologizes that Mr
*** felt he was lied to, but loanDepot was upfront with all fees associated
with the loan
3. Contrary to what the borrower stated above in
being charged $500, he was only charged $for the purpose of an appraisal
fee which is collected by credit cardPrior to collecting this fee, loanDepot
evaluates the customer’s needs and determines if they have a loan product that will
help the customerThe company conducts an extensive screening process on the
phone with the customer to collect data and find the proper program that will
fit the customer’s needsloanDepot then emails the customer information about
moving forward with the loan
Mr*** executed the Appraisal
Fee Agreement on October 15, where he acknowledged:
“The Appraisal Fee 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 fee.”
Furthermore, the total cost of Mr
***’ appraisal totaled $loanDepot had to pay the remaining balance
from the $appraisal costs to the $appraisal deposit Mr*** paidBased
off of this and because the appraisal was completed, a refund of $is
respectfully declinedAttached is the appraisal report with invoices along
with
4. In the funding stages of the
loan, the borrower’s credit report expiredBecause of this, loanDepot was
required to draft up new closing documentsOn the updated credit report, a new
liability appeared, and this had to be addressed with the Underwriting
department
5. On October 15, 2014, the borrower
executed the Credit Inquiry Explanation Letter that states the following:
“During the
loan application process, we continually monitor your credit activity and will
request an updated credit profile and/or pull a new credit report prior to
closing.”
The reason in why loanDepot pulls
multiple credit reports throughout the loan process is to ensure the borrower
is still current with their monthly financial obligations and that they are
still credit worthy for loanDepot to lend uponFurthermore, loanDepot only
uses the third-party, Credco, to pull the borrower’s credit report, so the
inquiry could be listed as Credco or loanDepot on the credit reportBecause
the Credit Inquiry Explanation letter was executed, loanDepot will not remove
the inquiriesPlease see the attached Credit Inquiry Explanation Letter
In conclusion, loanDepot sincerely
apologizes that Mr***’ experience with loanDepot was anything less than
satisfactory and in regards to the miscommunication between him and loanDepotWe
attempted to assist Mr*** his loan request as much as possible and were
able to get pricing below the competitor’s offer, but ultimately, Mr***
decided to cancel the loan applicationBased off of this and according to the
terms executed on the attached Appraisal Fee Agreement, a refund of $is not
warrantedloanDepot did not profit in any way on this transaction, as Mr
***’ appraisal alone cost $795.This cost exceeded the amount of deposit
collectedFurthermore, the credit inquiries were valid to make sure the
borrower is still credit worthy for loanDepot to lend upon, and because of
this, loanDepot will not remove the credit inquires
Should Ms*** 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 COMPLAINT#: ***
Borrower
Name: *** ***
Loan Number: ***
Borrower’s Complaint Filed with the Revdex.com:
“LoanDepot (LD) told me they do everything themselves from
start to finish and do not sell their mortgagesSadly, I believed themAt the
end of the first year, my mortgage went down $per monthI was concerned and
called them since a homestead rebate of $from the State of NJ was sent to
my town's Tax Collector which I told them was a one-time rebateI asked them
to please not estimate my escrow based on thatSince my husband had major
health issues, I trusted them and forgot about itIn late October, I get
a letter from LD that PNC Mortgage was buying my mortgage eff11/1/I
called both LD and PNC and they both assured me that nothing would change but
where to send my mortgage paymentThe next correspondence I received was from
Equity Accelerator (EA) who takes the money from my checking account twice a
month including extra funds to pay my mortgage off early, and then pay my
mortgage paymentThey notified me that my payment was going up from $2,to
almost $2,per monthI called to see where they got the info since I let
them know when I want them to change payment amountThey told me they had a
3rd party agreement with PNC who notified them of my new paymentNeither LD
nor PNC notified me that the payment had increasedIf EA didn't notify me, I
would have overdrawn my accountI called LD and got PNC on a conference call
PNC didn't have my account information in their system yet and I was told me to
call back at the end of the weekWhen I called back, I got LD and PNC on a conference
call again which is when I found out that my escrow account was short $1,
LD said they couldn't help because they no longer owned my mortgageAfter
multiple calls, LD claimed the shortage was caused by underestimating my
payment from payment #1,, and then in year 2, my Tax Collector
sent them a bill for $6,when my taxes were $7,which wasn't truePNC
did another analysis in November and the shortage is now $2,Please help.”
Borrower’s Desired Resolution:
“I feel Loan Depot should
reimburse me $2,which I now owe PNC BankI alerted them about the
homestead rebate on my taxes and told them it wasn't guaranteed every yearand
I didn't get a homestead rebate in the second year of the mortgageNow they are
lying about the $1,difference on the tax bill saying they were billed
$6,When I first got the mortgage, my taxes were almost $7,The
Hasbrouck Heights Tax Collector told me that they billed the correct current
which was even higherIt's bad enough they underestimated my payments, then
missed the tax problem the first year and my payment went down, even though II
called them, but then they made an even bigger error the second yearIf they
didn't sell my loan, maybe they could have applied the extra money I paid them
monthly to the escrow, but they sold my mortgage and left me to now pay the
additional money to PNCI'm especially upset that every time I asked for help,
they told me they no longer own my mortgage..”
loanDepot’s Findings and Response:
We appreciate Ms***, the borrower expressing her
concerns with her recent loan with our company through the RevDex.comHere at loanDepot, we have established customer service and responsible
lending not only as our main priorities but also as our company core values
All complaints are taken very seriouslyWe value to the
highest extent all the feedback we receive from our borrowers. Upon receipt of the borrower’s concerns a
thorough analysis of her loan file was conducted. We regret to hear that the borrower feels her
experience has been less than satisfactory
A review of the borrower’s concerns has
been completedAn analysis of the borrower’s taxes prior to her loan funding
with our company on February 26, Her tax payment was calculated based on
the tax certification we received from her taxing authority
loanDepot is no longer the
servicing the borrower’s loan The servicing on her loan is now with PNC
Bank. PNC conducted an esc row analysis
and determined that her tax must have gone up based on updated information from
her taxing authorityloanDepot cannot control any possible increase or
decrease in any borrower’s property taxes as they are strictly determined by
the assessment conducted by her taxing authority. LoanDepot respectfully declined the borrower’s
request for compensation in the amount of $2, It is the borrower’s
responsibility to stay current on their property tax obligation
At this time the borrower will have to
contact PNC bank for further details regarding the recent escrow analysis
completed on her loan
We deeply regret should
the borrower feel that they received service that is less than satisfactoryShould
the borrower have any questions or concerns she may contact our Customer Care
Department at 888-337-Representatives are available to assist her Monday
through Friday from 8am to 5pm, PST

San Diego Revdex.com Complaint #: ***Borrower Name: *** ***Complaint Date: 1/19/(Rebuttal)Borrower’s Rebuttal Complaint Filed with the Revdex.com:"After doing a thorough file review, there appears to be no viable evidence that supports thisclaim." Did they review the recorded conversation I had with *** ***? I sent him several emailsregarding the appraisal coming in lower and he always responded via phoneI guess this is practicedat loan depot so that customers have "no viable evidence" on paperWhat a scam!"loanDepot has no control over the appraisal process and cannot choose which appraiser toconduct the inspection." This is funny cause I do not remember selecting an appraiser; loandepot sentme the appraiserI was never given an option to select an appraiserAlso, after the appraisal camein I asked to get it amended and requested another appraisal, however the Production Managerresponded to me with well if you do that you risk losing your rate as well as the $"lock in fee".Please explain to me how I was able to "choose an appraiser"I wasn't even able to get asecond appraiser which I was willing to pay our of my own pocketYou scarred me by stating that Iwill lose my rate and the $lock in feeWhat a scam!It's your responsibility as a company to ensure your employees don't miscommunicate withcustomersYou should be paying for their mistakeNot meWhy am I paying $1,out of my pocketbecause of incompetent employees who can't communicate with customers? Or maybe you teachyour employees to miscommunicateWhat a scam!Of course I signed the documentsI didn't want to lose my rate nor my $depositAnd you arewrong the first time I brought this to your attention was my first email I sent to *** *** weeksbefore I signed final documentsOf course since he did not respond via email I have "no viableevidence"If loandepot believes they made no mistake then please send Revdex.com copies of theconversations I had with *** ***I'm sure you guys have the recorded audio since the line issupposed 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 companyI'm not the only one who feels this wayGo read allyour reviews onlineSeems like this happens quite oftenI made a horrible mistake by not beingcarefulIn fact what helped me decide to try loandepot was the fact that they are part of Revdex.comAfterthis incident I will not fully trust companies part of Revdex.com as obviously the Revdex.com has lowered theirstandard for adding companies as part of their "trusted companies".Regards,*** ***Borrower’s Desired Settlement from Initial Complaint:Because of either incompetent employees, or the art of teaching employees to scam customers I wantmy $1,which I overpaidI regretfully selected loandepot and could’ve used any other companythat would not have charged me or treated me the way loandepot did.loanDepot Findings and Response:loanDepot’s stance remains the same in not compensating Mr*** $1,in which he requested.We sincerely apologize that Mr***’s experience with loanDepot was anything less thansatisfactory in regards to the communication between him and loanDepotMr*** misconstruedthe initial response in where it stated that loanDepot has no control over the appraisal process and cannotchoose which appraiser to conduct the inspectionNeither the lender nor the borrowers are allowed tochoose the appraiser, as it must be conducted by a third party ordered by the appraisal managementcompany to ensure there is no bias or a predetermined value or agendaThe appeal process was neverinitiated to dispute the value, and it is ultimately up to the borrower on whether or not he wants to file theappealMr*** chose to move forward with the appraised value that his property came in at.When Mr*** signed his documents on November 20, 2014, he did not exercise the day rightto rescind the offerHe escalated this issue well after the date he signed his closing documents.Furthermore, as stated in Mr***’s complaint, he is correct in saying we will not be able torelease any recordingsAll recordings are company proprietary information utilized for internal purposes.The only way to release any recordings would be with the receipt of a subpoenaloanDepot regrets that Mr.*** feels that loanDepot is a dishonest company and has negative feelings towards the BetterBusiness Bureau, but here at loanDepot, we have practiced responsible and fair lending

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 have several issues with their findings, as they state they were unaware of my request for a quick deed until 1/23/However, they are incorrect please as they wrote the following: This is well before the date on 1/23/15, again Loan Depot refuses to acknowledge their mistakesAdditionally, to say I was credited back "$395" is true but deceptiveThe $is a non refundble deposit I placed with them a "lock in", which I was advised I would be credited upon closingHowever, I was told if I chose not to close I would lose my $deposit for the time they invested in meIt is unacceptable to me that the company values their time more than mineIf I was to pull out I would lose money however, the fact that due to their errors my wife and I used our personal leave from our jobs for no reason in attempt to closeThey are a company who does not value their customersThey only compensated me for life lock after extensive complaintsI do not think it is unreasonable to ask to be compensated for my time when they expected to be compensated for their's if I chose not to close with their companyFurthermore, On Mon, Jan 12, at 7:PM, *** *** wrote:Customer wants to correct wife name they are now married to *** *** what do you need?This is well before the date on 1/23/15, again Loan Depot refuses to acknowledge their mistakesAdditionally, to say I was credited back "$395" is true but deceptiveThe $is a non refundble deposit I placed with them a "lock in", which I was advised I would be credited upon closingHowever, I was told if I chose not to close I would lose my $deposit for the time they invested in meIt is unacceptable to me that the company values their time more than mineIf I was to pull out I would lose money however, the fact that due to their errors my wife and I used our personal leave from our jobs for no reason in attempt to closeThey are a company who does not value their customersThey only compensated me for life lock after extensive complaintsI do not think it is unreasonable to ask to be compensated for my time when they expected to be compensated for their's if I chose not to close with their companyFurthermore, I was told by Ms*** on a recent call that "so you chose to do business over you losing $if you did not close?" When I replied yes, she pretty much said if I did not trust her company then I should of opted out and lost $400. At Loan Depot you are not a customer they care about, you are a LOAN #, and they only care about how much money they make on your loan and do not acknowledge their actions.
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 All I can do now is go around and let everyone know about my experience and how loandepot hires incompetent peopleLoandepot should not be part of Revdex.com as they are not a reputable business that Revdex.com representsThere's so many complaints about this company; I fully regret my decision to do business with them
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
Regards,
*** ***
I feel that now they say closing all my credit cards was contingent on loan approval. It was approved the first time. I have asked and NO bank or Loan company ask you to close accounts if they wer not going to pay them offMy biggest problem is all my accounts are closed with balances. This affected my daughters credit too. This is not right. I have emails asking me to close accounts and telling me to get pay off balances and send them the bills so they now where to send payoffs. This is Fraud and I will be getting a laywerThey can call it whatever they want but they told me is was approved the first time . I would have never closed my accounts thinking they might not get paid off. They cant do this to people and think its OK .Im very disappointed on how they handled this I would never recommend anyone to do business with them. My problem is all my accounts closed with balances on them. It made my credit go way down because of that. Before loan depot I had a lot of credit, but good credit. Now its there fault. they cant treat people this wayThank you. I have emails telling me to close accounts they were going to pay off . Never anywhere does it say ContingencyIf I have to hire a lawyer I will . I wont let them do this to anyone else. My credit suffered and my daughters too

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 was Contacted By them Via MailI called and verified with there team that the information they sent me was accurate I gave them My S.Sand Again they reported they are the experts in Home mortgages and Loan REFI/MODS etc., And they could do A REFI with out any problems. After week and researching the market they pursued me to pay the $Appraiser cost. Loan Depot did not Date the Non Refundable form, Probably because they wanted to wait until after the Appraisal. They Deceived meThere Non Refund form States : loanDepot evaluates the customer’s needs and determines if they have a loan product that will help the customerThat is exactly what they did and Reported they could DO A REFI. Also
When Mr*** came to loanDepot on September 11, 2014, he spoke to his SrMortgage banker Again they Contacted me, and Yes I spoke with a SENIOR Mortgage banker, He should of known if I can qualify for a REFI, Or why contact Me He never said If the Appraisal comes back Below a certain Number you will lose your $In addition the Form Reports :
The company conducts an extensive screening process on the phone ( Both Sides Agreed we can REFI )
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 the time the
proposal is good for, and that the fee is non refundable. That was NEVER DONE ! Finally They Lock in FEE I signed States : The FEE is Non refundable If : Your Application is Declined based on Inaccurate Information Provided by you( I was completely Honest with them, I advised them the house across the street is on the market for 349K my house should be worth at least 260K The House door down sold for 270K month ago, THEY Checked and verified I was accurateI feel Loan Depot and I should a least agreed on who they chose to do the Appraisal, Because I found several Mistakes He made on my AppraisalHe compared houses not in my neighborhood2. He never compared the house across the street or the one that just sold on my StreetI installed a thousand Water Filter system which he did not put in his reportLoan Depot never replied to my Appeal form I sent to them.
They have to take some Responsibility Here, They and I Agreed my House was worth what I believe is still TrueI had No say in there appraisal ProcessI'm willing to meet them half way with an $refund for there time and expense.
Regards,
*** ***

San Diego Revdex.com Complaint #:***
Borrower Name: *** ***
Complaint Date: 10/18/
Borrower’s Complaint Filed with the Revdex.com:
Customer service rep is *** his number for loan depot is *** *** *** ext *** I paid
dollars,for to do a
loan in which in return I have revived awful service he want return my calls
and has provided me no service I been trying to request refund but to no avail can't get one I feel
like I been robed
Borrower’s Desired Settlement:
Borrower wants a refund of the $stated above
loanDepot’s Borrower Complaint Summary:
Borrower claims there have been communication issues between him and loanDepot
Borrower is requesting a refund of $
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 satisfactory in the beginningHis concerns
have been researched and addressed
When the borrower submitted this complaint, our Sales team was able to get the borrower back on
board with the refinance process for his property located at Lorraine Street, Baton Rouge, LA
The borrower’s credit card was only authorized for an amount of $on October 14, 2014,
meaning that a hold has been placed for that $The funds have not been taken from the
borrower’s financial institutionIf the borrower decides to not proceed, the authorization will
automatically void after daysWe collect this fee to lock and secure the interest rate that was
discussed between his SrMortgage Banker and the borrower
In conclusion, loanDepot apologizes for any miscommunication that occurred at the beginning of this
refinanceThe borrower has decided to continue with the refinance, and therefore, a refund of $is
not warranted

San Diego Revdex.com Complaint #: ***Borrower Name: *** ***Complaint Date: 12/9/2014Borrower’s Complaint Filed with the Revdex.com:“The unprofessional and misleading communications in a refinance loan process resulted indamaging financial issues and potential failure to obtain re-finance approval
elsewhere”Borrower’s Desired Settlement:As a result of loan depot mis communications and unprofessional instructions, insure refinanceapprovalloanDepot’s Borrower Complaint Summary:Borrower claims that loanDepot has been unprofessional and misleadingBorrower wants loanDepot to insure refinance approval as a result of the miscommunication andunprofessionalism.loanDepot Findings and Response:loanDepot sincerely apologizes that Mr*** feels that our company has been unprofessional andmisleadingOur records indicate that loanDepot made every attempt to assist Mr*** with his loanrequestWe understand that obtaining a mortgage can be a very stressful process and we sincerelyregret any inconvenience Mr*** may have encounteredMr*** came to loanDepot to discuss options of refinancing his property at *** *** ***
*** *** *** ** *** on August 21, Mr*** agreed and locked in to a conventionalConforming Fixed Year loan on the same dayThe appraised value came in lower than expectedwhich negativity affected his loan request due to the high loan to value ratio that exceededguidelines permitted for his loan program.In an attempt to continue to assist Mr*** with a refinance, loanDepot was able to offer him analternative loan programAt the request of Mr***, his loan program was restructured to an FHAYear loan on September 10, However, while the loan was in process, it was discovered thata payment on his current mortgage was missed and there was an outstanding judgment against theborrower with *** Valley Hospital that needed to be paid in full.loanDepot tried to work with FHA and Underwriting directly to get around the late payment, butwere unsuccessfulPer FHA guidelines, requires consecutive months of timely payments made tothe mortgage on the subject propertyBecause of this, loanDepot had to respectfully decline thefileFurthermore, loanDepot still has not received confirmation the judgment has been satisfied.In conclusion, loanDepot sincerely apologizes that Mr***’s experience with loanDepot was anything lessthan satisfactoryWe have exhausted all efforts to refinance Mr***’s property, and we regret we could notassist Mr*** in meeting his mortgage loan goals