LoanDepot.com

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
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,
*** ***

San Diego Revdex.com Complaint #: ***Borrower Name: *** ***Complaint Date: 2/18/2015Borrower’s Complaint Filed with the Revdex.com:“I started the request for mortgage refinance process in 08/It was noted prior to Labor Daythat a subordination lien would be required since I
had accepted assistance from Save the DreamOhioEvery week in September, I emailed *** Donofrio to check the status of the lien requestand every week I was told that they were still waiting to hear back from the Ohio HousingAuthorityFinally in mid-October, I contacted OHAI was provided with the name and contactinformation for the person who completes the subordination lien requestsI contacted ***and she told me that she had no information about a request for a lien subordination for myloanShe also stated that she can complete the requests within business days not six weeks.This showed me that no one at Loandepot was actually following up on this even though theywere telling me that they wereI provided *** and *** *** all of the contact information forher and assumed they would follow upI'm not sure what happened in NovemberOn December08, 2014, I was "cc" on an email from *** to *** and *** in which *** requested anupdated HUD form*** replied that he would be sending ASAPOn January 10, 2015, Ireceived a generic email from Loandepot stating the my loan request was closed but pleasecomplete this customer service surveyI sent emails to both *** and *** inquiring why myloan was closedI received an email back from *** stating, "We are still working to close thisloan for you and I apologize that you haven’t heard more from us latelyThe processing teamhas been working back and forth with the county and Save the Dream to modify your agreementwith them so we could get this doneI am going over there to speak with them today to find outwhat is left, if anything, to get this closed for you." I then emailed *** who told me that shenot been contacted by anyone at Loandepot since December 08thSo again Loandepot lied tome.”Borrower’s Desired Resolution:“I would the appraisal fee refundedLoandepot has not been honest with meIts funny how thedenial rationale changed after I requested the refund of the appraisal feeAccording to an emailthat I received from *** on January 10th the reason that the loan was closed was, "After acertain amount of time in process the loan has to be cancelled, but can be re-activated at anytimeWe never stopped working on this for you, the process of getting what we needed fromSave the Dream was just extremely time consumingIf you would still like to work on closing thisrefinance please let me know and I will call you todayOnce again, the loan not was denied dueto anything on your endIt comes down to the time in process and having to re-activate thingsafter a certain point." But according to the customer service department, it was closed due to alow loan to value ratioFunny because neither *** nor *** mentioned that as being aproblemIts not right to change the denial reason “loanDepot’s Borrower Complaint Summary:Borrower claims that there was miscommunication between her and loanDepot and that loanDepotlied to her. Borrower is requesting a refund of her deposit in the amount of $95. loanDepot Findings and Response:loanDepot apologizes for any miscommunication that occurred between the borrower andloanDepot, and that the borrower believed she was lied toHowever, in process, it wasdiscovered that there was a hidden third lien on the borrower’s property that Ms*** did notdisclose to loanDepot at the time of application on August 7, This lien caused thecombined loan-to-value (LTV) ratio on the borrower’s property to be too high for loanDepot tocomplete the loanMs*** tried to get the third lien modified in order to lower thecombined LTV, but this took longer than expectedBecause of this, loanDepot had torespectfully decline Ms***’ loan. loanDepot charged Ms*** $as an appraisal fee collected by credit cardPrior tocollecting the appraisal fee, loanDepot evaluates the customer’s needs and determines if theyhave a loan product that will help the customerThe company conducts an extensive screeningprocess on the phone with the customer to collect data to find the proper program that will fitthe customer’s needs.On August 8, 2014, Ms*** exexcuted and signed an Appraisal Fee Agreement where sheacknowledged:“The Appraisal fee of $is non-refundable if an appraisal has been completed on thesubject property.”The cost of the actual appraisal that was conducted on Ms***’ property was $Howeverwe only charged Ms*** $Because Ms*** executed the Appraisal Fee Agreementand services were rendered with the appraisal, a refund of her $deposit is not warranted.Attached are the Appraisal Fee Agreement, Appraisal Invoice, and the full Appraisal Report.In conclusion, loanDepot had to decline the borrower’s file due to the combined LTV being too high forloanDepot to lend upon due to a third lien on the property discovered in processShe tried to get thislien modified, but was ultimately unsuccessful, and loanDepot could no longer keep her file active.Furthermore, Ms***’ request for compensation of the $is respectfully denied as she signed theAppraisal Fee Agreement acknowledging this deposit is non-refundable if the appraisal is completed.loanDepot did not profit from this loan application, as we incurred expenses and losses on theborrower’s behalf that exceeded the $amount with the appraisal alone costing $Here atloanDepot, we have established responsible lending and customer service as our core values, and takeall complaints seriously to ensure that our staff abides by our core beliefs. loanDepot apologizes that Ms***’ experience with loanDepot was anything less than satisfactory,and we regret we could not assist her in meeting her mortgage goalsShould Ms*** have additionalconcerns, he may contact the Customer Care Department at 888-337-ext***Representativesare 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 #: *** Borrower Name: *** *** Complaint Date: 3/5/2015 Borrower’s Complaint Filed with the Revdex.com: I wish to register this complaint against a company known as "loan Depot" with an address of ***
*** *** *** *** *** *** *** *** (address given by *** *** at ***. I have attached a letter sent by them aledging that I had applied for a loan over 3 years ago and was denied due to my equity in the home at that time. But due to "recent value increases in ***... they may be able to refinance me into a conforming 15 year....." I have no recollection of ever calling them for a loan, and have asked them to provide me with the details they referred to in the attached letter. On Saturday, February 28th I spoke to a representative who referred me to ***. At that number "***" referred me to "***" who referred me to *** ***. I discussed my concerns (identity theft) telling Mr. *** I did not have any recollection of talking to Loan Depot about a refi on this address. He said he would investigate it and I could expect a response Monday. I told him I would usually not be available M-F but email would be ok. Tonight at about 7 pm, as a courtesy, I called and asked to speak with Mr. ***. The attendant "***" put me on hold, than transferred me to Mr. *** who let the call go to his voice mail. I called back and this time "***" transferred me to *** ***. After I declined Ms. ***'s request for my social security number and date of birth, only confirming address and other information already provided on the attached letter, she said she had pulled my file, but could not honor Mr. ***'s commitment to provide the details. I doubt that any such file exists, and the whole thing is a scam to secure my personal information. One interesting footnote when I was trying to find their address: ***
*** Yours truly, *** *** *** *** ** *** *** Borrower’s Desired Settlement: 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 organization. I have contacted them on no less than 6 occasions, each time resulting in failure to resolve this matter. Sincerely, *** *** loanDepot’s Borrower Complaint Summary: The borrower claims that he has no recollection of ever calling loanDepot for a loan, and expressed his concerns regarding “identity theft.” The borrower claims that the representative he spoke to would not release any information to him in regards to his previous loan transaction because he would not provide his social security number and date of birth. Borrower is requesting loanDepot to provide a complete copy of the file number *** and for loanDepot to destroy all information in regards to this file, along with all copies, destroyed. loanDepot Findings and Response: On September 21, 2011, we have record that Mr. *** discussed refinance options for his investment property located at *** *** *** *** *** ** *** with loanDepot. On the same day, the borrower locked into a Conventional Fixed 15 year loan on said property. The federal disclosures were sent to the borrower on September 22, 2011 electronically, and the borrower consented and viewed these documents explaining the loan transaction on September 23, 2011. Furthermore, an appraisal inspection was completed on said property on October 3, 2011. Ultimately, on December 13, 2011, the borrower’s loan was declined due to a property issue. loanDepot regrets that Mr. *** feels that he may be a victim of identity theft, but our records show that Mr. *** did have a loan in process with loanDepot in where he consented and signed documentation to initiate the loan process. Contrary to what the borrower stated, the representative was not asking for Mr. ***’ entire social security number, but the last 4 digits of his social security number. As standard protocol and company policy, loanDepot personnel are required to ask at least 2 security verification questions to any customer inquiring about a loan they may have or had in process with loanDepot. The security questions can be requesting from the current/previous customer the current or subject property address, the last 4 digits of the social security number, the date of birth, or account/loan number. Attached, please find the disclosures in which Mr. *** consented to, documentation in which the borrower signed such as the signed authorization to release information and the Lock-In Agreement and Advance Fee Notification, and the full appraisal report that was conducted on the property located at *** *** *** *** *** ** ***. In regards to the borrower’s request in destroying all information in regards to him, loanDepot is required to retain records of all loan applications for up to seven years, pursuant to state and federal law. These records are retained digitally within loanDepot’s loan origination system and access to these records is limited to certain loanDepot employees. Any physical documentation received regarding a loan application is imaged into the system and then shredded by a bonded and insured document destruction company. In conclusion, loanDepot regrets that Mr. *** has concerns regarding identity theft, but our records indicate that there was indeed a loan in process between Mr. *** and loanDepot. As standard protocol, security questions must be asked by loanDepot personnel to verify the identity of the people we speak to, and loanDepot cannot destroy Mr. ***’ file due to state and federal law. Furthermore, should Mr. *** feel that he is a victim of identity theft we recommend that he contact his local law enforcement authorities and file a formal report with them. He should also contact the credit bureaus and flag his credit profile. loanDepot highly values the security of each one of our borrowers and it is important for us to make sure they also take the proper measures to protect their personal information. Should Mr. *** have additional questions or concerns, he may contact loanDepot’s Customer Care Department at *** ext. ***. Representatives are available to assist Monday through Friday from 8am to 5pm, PST ?

San Diego Revdex.com Complaint #: ***Borrower Name: *** ***Complaint Date: 2/14/2015Borrower’s Complaint Filed with the Revdex.com:I started a refinance back in October of 2014, It seems like everything is finished but one thing.Iwas to get all of my credit cards paid off
and of them have been taken care of but there isone card of *** *** that has not been paid yetI have called to find out whythey said acheck was mailed out, and some time went by and still not paidI called again and the said acheck was fedexed to capitol one and still nothingI checked the tracking number at fedex andthey said it was delivered, I called Cap one and they said they never received a checkall this timeI am still making payments on this account and they are charging me interestI don't understandwhat is going on , this dollars was part of my refinance and I think I should get it so I canpayoff this account.Borrower’s Desired Resolution:Either pay the money to Cap one or send me the check for $and I wil pay it myself. loanDepot Findings and Response:loanDepot overnighted the check to *** *** to their address at *** *** *** *** ***
*** ** *** on January 7, and it was received by *** *** on January 8, Attachedis the confirmation from FedEx that the check was received and the FedEx shipping labelHowever, thecheck has not been processed yetloanDepot will put a stop-payment on that check sent to *** ***and will re-issue a new check to be sent to Mr*** directly, per his request. loanDepot has communicated this to Mr***, and will continue to work with the borrower to getthis resolved

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 upfront about my short sale during the application processI was told it would not be a problem as long as I have mortgage insuranceI understand the lock in fee agreement; however Loan Depot should refund all or part of the fee based on the experience they put me throughTheir lack of communication is unacceptable and I did communicate with a supervisor about bringing money to closingIn fact, my last communication from the company was they were still working on my file on what I would need to provide to be approved for the new loan. The loan processor told me they underwrite the mortgage insurance and it could be approved as an exception by the President.
Regards,
*** *** ***

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,
*** *** ***

San Diego Revdex.com Complaint #: ***
Borrower Name: *** ***
Complaint Date: 10/31/
Borrower’s Complaint Filed with the Revdex.com:
Initially, I applied for a V.ALoanYour representative, *** ***, took my information, ran my
credit and assured me that upon my home appraising
at my estimated value there would be no
problemMy credit was good, my home appraised at the required value and my loan was forwarded
to a lady by the name of *** ***-***, who contacted me and stated my loan was denied
due to my income being insufficientI informed her that my income was screened and approved by
*** ***She stated she did not see that informationAfter talking to her at length she then
stated, on! Here it is, I found itShe then hung up and called back within seconds and stated the
house I was living in was not my primary residence and the loan was being deniedI informed her,
that the home was my primary residenceShe again stated it was not and she was sending the loan
back to *** ***She then stated, I needed to submit a letter to verify that I lived there(***
*** Blvd) I t*** her I wouldI also spoke to her manager *** *** and he asked me to
submit the same information and I did*** *** again contacted me and stated she looked my
house up on map quest and it is only miles from my jobShe asked me how far the home at ***
was and I t*** her it was miles awayI then stated the *** was not miles from my job it was
miles awayI then t*** her we purchased the home at *** *** *** because my wife was
sick*** called several more times and we aswered all questions and provided all documentation
She sent an email stating we were approved for the loan and all we had to do was cancle all our
charge cards, whick we didShe then stated we had to cancle our open loan accounts and we didShe
later called back and stated our loan was deniedTo date we have not received a denial letter from
her companyWe applied for this laon in May and in five months we were t*** the loan was ok and
then denied
Borrower’s Desired Resolution:
complete my loan application based upon my information obtained, or reprimand of *** ***
*** and letter of apology
loanDepot’s Borrower Complaint Summary:
Borrower claims there were communication issues between him and loanDepot
Borrower claims that there was discrepancy on the subject property of *** *** Boulevard,
*** Grove, IL *** on whether it was his primary residence or not
Borrower claims that we asked him to cancel out his charged cards and to close out his accounts
Borrower claims he never received a denial letter from our company
loanDepot Findings and Response:
loanDepot sincerely apologizes for the miscommunication between loanDepot personnel and Mr
***His concerns have been escalated to management and have been addressed internally
Furthermore, loanDepot will use this training opportunity with our staff
When Mr*** came to loanDepot on June 27, 2014, he discussed loan options with his SrMortgage
Banker *** *** and ultimately locked in to a VA Fixed Year loan on the same day for the property
located at *** *** Boulevard, *** Grove, IL ***Federal disclosures were mailed out to
the borrower on June 27, Initially, it was discussed with the SrMortgage Banker that this property
was Mr***’s primary residence
Mr*** has a home in Illinois (subject property) and one in MissouriThe borrower claimed that the
subject property in Illinois was his primary residenceBoth of Mr***’s employers are in the state of
*** which are located very far from the subject property, and the property in *** also has a VA
loan on it in which a borrower can only obtain if the property is a primary residenceIn addition, a
borrower can only have one VA loan at a timeBecause of these contributing factors, our Underwriting
rejected the proposed VA loan for the Illinois property as a primary residence and therefore, could not do
the loan as a VA loan
In attempt to still help Mr***, loanDepot had to change the VA loan program to a conventional
Conforming Fixed year loan as the subject property in Illinois was deemed as a second home instead
of a primary typeThe borrower was fully aware of this, as the disclosures that contained the RESPA
documents was sent out to the borrower on August 21, via SDX (Secured Document Exchange)
SDX is a secure portal that loanDepot utilizes to electronically deliver loan documents to borrowersThe
portal allows loanDepot to track the delivery and viewing of loan documents sent to borrowersThrough
the portal, borrowers are able to electronically consent to the items receivedIn Mr***’s case, the
documents were successfully sent to him on August 21, with him viewing the RESPA documents on
August 22,
Based off of the conditional approval set forth by our Underwriting department, the borrower was
requested to close out his credit accountsThis was a requirement that was needed to be done prior to
the loan funding
Because the loan was switched from a VA loan to a conventional loan, loanDepot needed a new appraisal
to be on the Illinois propertyWe received the appraisal on September 23, 2014, however the value came
in a lot lower than expected at $126,In attempt to still get this loan through for the borrower,
loanDepot submitted an appraisal appeal to dispute the valueHowever, the appeal was denied and the
value remained unchangedBecause of the low value, the loan had to be declined
On October 23, 2014, the attached Adverse Action Notice was mailed out to the borrower informing him
of the declination of his application due to “value or type of collateral not sufficient.”
In conclusions, loanDepot apologizes for the communication issues between the borrower and loanDepot
Initially, it was discussed that the subject property in Illinois was the primary residence, and loanDepot would
be able to do a VA loan on said propertyHowever when the loan was in process, it was discovered that this
property would have to be deemed a second home, disqualifying the property from a VA loan programIn
attempts to still help the borrower, we converted the loan to a conventional conforming loanA new
appraisal was needed, but the value came in lower than expectedTo further try and help Mr***, we
submitted an appraisal appeal to dispute the value of the propertyThe value remained unchanged, and
loanDepot had to respectfully decline Mr***’s loan applicationloanDepot sincerely apologizes that Mr
***’s experience with loanDepot was anything less than satisfactoryHere 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

San Diego Revdex.com Complaint #: ***Borrower Name: *** *** ***Complaint Date: 11/13/2014Borrower’s Complaint Filed with the Revdex.com:My application process started on July 22, for a refinanceUpon review of my application,my loan was pre-approved based on the information I providedI was told
the loan packagewould not be a problem but I would have to carry mortgage insuranceAfter a long process ofone delay after another, I received my written approval on Sept12, After my approvalthere were continuous excuses of why my loan was not scheduled to closeApparently, theregulations changed in the processAlthough I was grandfather in, I was told I needed specialapproval for mortgage ins however it should not be a problem since Loan Depot underwritestheir own mortgage insuranceI received no information for several weeks and was left in limbountil I received a customer service survey that I withdrew my loan applicationFurthermore, Iwas told that they could not underwrite me and I would need to come out of pocket at closing toestablsh 80/LTVI was prepared to do so and still did not hear back regarding items neededfor closingIn the meantime I contacted another lender (large bank) and they told me themortgage insurance is because of the lender and not federal since they would have been able toget me mortgage insI have requested a refund of my money (application fee/appraisal which isuseless to me) and have yet to receive any money returned to meI am appalled that no onefrom the company called me to tell me they could not close my loan the first timeTheir repswere friendly but they have no follow through and leave their customers hanging when neededmostThese are people's livesI was left out to dry by this company.Borrower’s Desired Resolution:I originally was going to refinance with Quicken and Loan Depot sold me a better deal so I lostthe money for my first appraisalSince Loan Depot was unable to close their loan based on whatI was sold, my second appraisal is now worthlessAfter everything this company put me throughand the financial loss I have experienced, I would like a full refund of $495.loanDepot’s Borrower Complaint Summary:Borrower claims that the regulations changed while in processBorrower claims she was informed that she needed special approval for mortgage insuranceBorrower claims that she was told she would need to bring in cash at closing to establish 80/LTVin which she was prepared to do soBorrower claims that there were communication issues between her and loanDepotBorrower is requesting a full refund of her $Lock Deposit.loanDepot Findings and Response:The borrower’s loan application was taken on 7/19/and locked in to a conventional conformingfixed Year loan program on the same dayIn process, the borrower was notified that loanDepotneeded to document on whether or not the GMAC account that showed up on the borrower’s creditwas a short sale and not a foreclosureAfter getting the credit supplements, it was discovered thatthis account was a short saleThe new guideline that passed was that for any loan application takenon or after 8/16/2014, a short sale now required months since the date of completion for aborrower to refinance again, rather than the months seasoning period beforeBecause theborrower’s application was taken before the above listed date of 8/16/2014, the guideline does notapply to her and she was correct in saying that she was grandfathered inBecause the borrower’sloan was originated prior to 8/16/2014, loanDepot was able to continue the refinanceIf the loanwas originated after that date, there would be no loan for the borrowerOn 9/10/2014, the borrower was notified that her file has been escalated to Underwritingmanagement and our Risk department regarding the mortgage insurance and loan-to-valuerestriction due to the borrower’s short saleThe borrower states in her complaint that loanDepotunderwrites the mortgage insurance; however this is not the caseFor conventional, conformingloans, loanDepot uses a third party company for private mortgage insurance, and as such, we haveto adhere to what the mortgage insurance company permitsBecause of the borrower’s short sale,the agency guidelines would not allow loanDepot to go above 80% LTV and the mortgage insurancecompany would not approve thisUnderwriting confirmed that loanDepot could not proceed withthe loan as structured and would need to reduce the LTV to 80%loanDepot found no viable evidence in where the borrower communicated to loanDepot that shewas willing to bring additional cash to lower the LTV down to 80%If this was communicated toloanDepot, we would have welcomed it a lot of time and effort has been put into this borrower’sloan by both Ms*** and loanDepot personnelloanDepot sincerely apologizes for the miscommunication between loanDepot personnel and Ms.***His concerns have been escalated to management and have been addressed internally.Furthermore, loanDepot will use this as a training opportunity with our staffMs*** was charged a $lock feeThe fee 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 helpthe 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.Ms*** executed and signed the LoAgreement on July 28, 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 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, the guideline for short sale seasoning did change from months to months whichcame into effect on 8/16/Because Ms***’s loan was originated prior to this date, we were ableto do a loan for the borrowerThe file was escalated to management, and due to the borrower’s shortsale, the agency guidelines would not permit the borrower’s loan to be greater than 80% LTV and themortgage insurance company would not approve thisThe only solution was that the borrower wouldhave to pay down her loan to 80% LTVAlthough the borrower expressed she was willing to do this,loanDepot found no viable evidence that proves thisloanDepot apologizes for any miscommunicationthat occurred between her and loanDepot, and sincerely apologize that the borrower’s experience wasanything less than satisfactoryFurthermore, 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 Ms***

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 am not satisfied with the response because loan depot new that we returned to the *** *** blvd address to live The only reason we lived in stLouis was because of my wife's doctorOnce the medical issues were resolved we returned to ill We disclosed this initially and should have been informed at that time there was a problem Secondly, we never received any information on the final rejection of our loanWeeks went by before we contacted *** and then *** who t*** us they could not do the loan Loan depot failed to make sure we were contactedTraining isn't the only thing that is needed.
Regards,
*** ***

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution is what I had asked for in the first place, specifically that they delete all information regarding an application for the property located at ***While they say that their records must be maintained for years, they also say that they have no records regarding property at ***.....Given their assurance that they have no file or data regarding a loan or other financial data on the property listed in their solicitation (***) I will consider the matter closedThey could have simply said that during my first phone call
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,
*** ***
My self and my wife were told by *** *** that our $would be refunded to us if the loan did go thru he told us to sign the papers but disregard that sectionI want my $back as promised

Attached is the Letter of Explanation regarding this complaint.Thank You.San Diego Revdex.com Complaint #: ***Borrower Name: *** ***Complaint Date: 3/6/2015Borrower’s Complaint Filed with the Revdex.com:Bottom Line: My cash back refi took days to close, days past the
estimated closing date.Further once I signed closing documents, it took additional days for the loan to fundTo top itoff, the amount wired in was less than what was on the closing statement, which is the oppositeof what I expected because I pre-paid $in interest, and still no response to my requests for anupdated closing statementAll of this with poor responses to my requests for anupdate/explanationMy "SrMortgage Banker" was *** ***At first he was veryresponsive and attentive, but as soon as I provided a deposit and committed to the loan thatdropped off significantlyMy first "SrAccount Manager II", *** ***, was somewhat aloof.There were multiple occasions when he just didn't get it and required a phone call from me toexplain what he needed to doMy second "SrAccount Manager II", was much more competentbut seem to frequently ignore emailsHe would promise an update/response and didn't comethroughI'd only get a response after multiple emails over a couple of daysI'm not a novice tothis process and I can understand that there are delays, but I generally got the feeling from theseguys that they were hiding some ulterior motiveOf the loans/refis I've experienced, this has tohave been the worstI understand they might need time to get me answers to my questions, ifso, just at least respond and let me know that.Borrower’s Desired Resolution:I would like an explanation of why the funds I received was less than what was ag***d toInaddition, I would like a refund of the pre-paid interest of $and a $credit. loanDepot Findings and Response:loanDepot apologizes that Mr***’s experience with loanDepot was anything less than satisfactory OnMarch 3, 2015, Mr*** informed his loan team that the amount wired to him was less than what wasreflected on the estimated closing statement he signedIt was communicated to Mr*** that thedocument he signed were an estimate, and the amounts listed are not the final figures. Furthermore, Mr***’s loan funded and closed on February 26, However, Mr*** did not receivethe funds until March 3, due to a delay in the recording of the mortgageAs compensation,loanDepot wired the borrower $for compensation of days interest at $a dayThis wascommunicated to Mr***, and he agreed to loanDepot’s assessment and compensation amount onMarch 7, 2015. Should Mr*** have additional concerns, he may contact loanDepot’s Customer Care Department at*** ext***Representatives are available to assist him Monday through Friday from 8am to5pm, PST

San Diego Revdex.com Complaint #: [redacted]Borrower Name: [redacted]Complaint Date: 11/25/2014Borrower’s Complaint Filed with the Revdex.com:I was misled by LoanDepot.Com about the refinancing of my property by promising terms andpercentages which were not delivered resulting in a denial of my application and...

loss of $495.00appraisal fee.Borrower’s Desired Resolution:Refund of $495.00 appraisal fee.loanDepot’s Borrower Complaint Summary:1. Borrower claims that he was misled by loanDepot.2. Borrower is requesting a full refund of that $495 appraisal fee.loanDepot Findings and Response:1. loanDepot sincerely apologizes to Mr. [redacted] that he feels misled. After doing a review of his file,loanDepot found no viable evidence that supports this claim.2. Mr. [redacted] was charged a $495 lock fee. This fee is collected by credit card. Prior to collecting thislock fee, loanDepot evaluates the customer’s needs and determines if they have a loan product thatwill help the customer. The 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 needs. If there is amatch and the customer is interested in moving forward with loanDepot, a Lock Script is read overthe phone to inform them of their proposed rate and fees, the length of the time the proposal isgood for, and that the fee is non-refundable. loanDepot then emails the customer information aboutmoving forward with the loan.Mr. [redacted] executed and signed the Lock-In Agreement on August 21, 2014 where heacknowledged:“If your application is declined based on inaccurate information provided by you, or informationdiscovered 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 employmentdocuments you provide do not support the information provided during the interview process, thelock-in fee is NON-REFUNDABLE”On August 22, 2014, the Lock Script was read to Mr. [redacted] stating that this fee is non-refundable.Mr. [redacted] gave verbal confirmation acknowledging this. The credit card charge in the amount of$495 was agreed upon for the purpose of a lock fee. The lock fee collected from the customerguarantees that the customer will receive the quoted rate and fees for a specific period of time. Thelock fee is used by loanDepot to secure the rate agreed upon and the loan product chosed by theconsumer for a set period of time. In this case, it was for 45 days. After the lock fee is collected,loanDepot secures a position on the secondary market for the customer’s loan and ensures that therate selected is available at any time over the period of the lock agreement.In addition, the $495 was also used for other expenses, such as services ordered on the borrower’sbehalf, such as property appraisal, credit reports, underwriting fees, etc.However, as a customer concession to the borrower, loanDepot issued a partial refund in theamount of $100 directly to the Visa credit card ending in [redacted] on December 8, 2014, the differencebetween Mr. [redacted]’s $495 deposit collected at the time of application and the cost of the $395appraisal.In conclusion, loanDepot sincerely apologizes that Mr. [redacted] feels as if he was misled by loanDepot.However, loanDepot did not profit from this loan application, as we incurred expenses and losses on theborrower’s behalf that exceeded the $495 amount. We ordered an appraisal, ran credit reports, titlereports, and were subject to losses on other services rendered during the process. However, as acustomer concession, we have issued a partial refund of $100, the difference of that $495 amount andthe actual appraisal cost of $395. Here at loanDepot, we have established responsible lending andcustomer service as our core values

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

Revdex.com:
Thank you for your intersession on this.  I have already received the refund by the business in reference to complaint ID[redacted], and find this more than satisfactory to me and consider this complaint resolved. 
Regards,
[redacted]

San Diego Revdex.com Complaint #: [redacted]
Borrower Name: [redacted]
Complaint Date: 10/23/2014
Borrower’s Rebuttal:
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 off. My 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 laywer. They 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 way. Thank you. I have emails telling me to close accounts they were going to pay off
. Never anywhere does it say Contingency. If I have to hire a lawyer I will . I wont let them do this
to anyone else. My credit suffered and my daughters too.
loanDepot Findings and Response:
Ms. [redacted]’s loan application was declined due to the excessive debt-to-income (DTI) ratio in a
combination with other risk factors on the loan. At the time of application, Ms. [redacted] was informed
that her DTI ratio was approaching the maximum threshold of 45% and was informed that she would
need to pay off some of her existing debt obligations so that she may qualify. Moreover, Ms. [redacted]
also failed to inform loanDepot, at application, that she and her husband were operating a business on
the subject property. This was later discovered after the loan had received conditional approval, at
which time closing out the credit card accounts were part of the conditions to get the loan final
approved. After loanDepot received her transcripts of her 2013 tax returns, loanDepot discovered that
Ms. [redacted] had reported significant Schedule C and Schedule E losses, which adversely affected her DTI
ratio. Because of the reported losses, loanDepot needed to confirm detail from the Schedule E and make
sure it was not tied to a property. If it was, then it would have been considered an undisclosed property
and additional documentation would be needed. After asking for clarification about the rental income
reported on her Schedule E, Ms. [redacted] acknowledged that her business (an RV park) is located on the
subject property. Since the property was commercial in nature, it made it ineligible for loanDepot to
lend upon. loanDepot sincerely regrets that it could not meet her financial needs.

[A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], 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,
[redacted]

loanDepot’s Borrower Complaint Summary:1. Borrower stated that his refund was denied initially because the appraisal was done, but was latertold his refund was denied because he did not disclose his business losses in the initial interview.  2. Borrower claims that he was upfront with loanDepot...

regarding his income, and requested thetranscript/call recordings between him and loanDepot. Borrower wants a refund of his $495 deposit.  loanDepot Findings and Response:1. loanDepot collects a $495 lock fee by credit card. Prior to collecting this fee, loanDepot evaluates thecustomer’s needs and determines if they have a loan product that will help the customer. Thecompany conducts an extensive screening process on the phone with the customer to collect dataand find the proper program that will fit the customer’s needs. If there is a match and the customeris interested in moving forward with loanDepot, a Lock Script is read over the phone to inform the borrower of the proposed rate and fees, the length of the time the proposal is good for, and that thefee is non-refundable. loanDepot then emails the customer information about moving forward onthe loan. This lock fee is used by loanDepot to secure the rate agreed upon and the loan product chosen bythe consumer for a set period of time. In addition, this fee is also used to cover other expenses, oneof them being to order the property appraisal.  It was because of both reasons that the appraisal being completed and Mr. [redacted] not disclosinghis business losses in the initial interview that his refund was denied.  2. After doing a thorough file review, loanDepot discovered that Mr. [redacted] did not specificallydisclose his business losses at the time of application. However, it was discovered that Mr. [redacted]’sincome could be a potential challenge in obtaining the proposed loan. As a gesture of good faith, wehave issued a full refund of $495. This refund was successfully processed on 1/2/2014 to theMasterCard ending in [redacted]. The transaction ID number is [redacted].  In terms of the releasing of the transcripts/call recordings between Mr. [redacted] and loanDepot, allrecordings are company proprietary information utilized for internal purposes. The only way torelease any recordings would be with the receipt of a subpoena.  In conclusion, loanDepot issued a full refund as a customer service concession to Mr. [redacted]. We regretthat we could not help Mr. [redacted] with his refinance goals.

San Diego Revdex.com Complaint #: 1[redacted]
Complaint Date: 11/4/2014
Borrower’s Complaint Filed with the Revdex.com:
Sent: Wednesday, October 15, 2014 10:11 AM To: [redacted] XXXXXXX We have supplied the additional information requested by [redacted] XXXX last Wednesday,...

10/8/14. We still have not heard back from her. This process began 8/5/14. It is now 10 weeks. Our patience has run out. I am respectfully requesting a refund of our $495.00 initial fee that was charged to my US Airways Master Card (Barclaycard) ending in [redacted]. I thank you for your understanding. Please confirm that you have received this email request. Sent: Tuesday 10/28/2014 10:09 AM To: [redacted] XXXXXXX You phoned me Wednesday, 10/15/14 at 6:27 pm EST. You asked me to give you “just one more day” to get final approval for our loan. You said you were going to speak with your manager [redacted] and see if she could “push the approval through”. It is now two weeks later, twelve weeks since the process began, and I have not heard from anyone at Loan Depot. Please refund our initial $495.00 fee as requested in my email of 10/15/14 (below). Sent: Friday, October 31, 2014 3:18 PM To: [redacted] XXXXXXXXXX I understand that Loan Depot is not going to bring our application to closing. I have kept comprehensive records throughout this process. I believe most of your conversations are done on a recorded line. My recollection is that when this process began (8/6/2014), I was promised by [redacted] XXXXXXX if "Loan Depot is unable to bring this loan to closing" the fee would be refunded. The fee agreement states, "If an appraisal has been completed on the subject property and you (we) cancel your(our) application, you(we) will not receive a refund of this appraisal fee". We did not cancel our application. Your representative, [redacted] XXXXXXX, made a verbal commitment to refund this payment. Loan Depot dragged this process out for twelve weeks and I have requested a refund numerous times starting 10/15/14 email to [redacted] XXXXXXX and to you below. Why did it take until now for you or anyone at Loan Depot to address my request for a refund?
Borrower’s Desired Resolution:
I have requested numerous times, since Loan Depot was unable to deliver as promised, a refund of the iinitial fee of $495.00. Loan Depot's Senior Banker, [redacted] XXXXXXX verbally committed to refund the $495.00 fee, "if Loan Depot was unable to bring the requested loan to "closing". This company delayed the loan process, failed to update us in a timely fashion, and put us through hell! I plan to contact the Veterans Administration as well. This company is should be ashamed of themselves. I am an honorably discharged veteran of the United States Army and my wife and I are retired, living on Social Security.
loanDepot’s Borrower Complaint Summary:
1. Borrower claims there were communication issues between him and loanDepot.
2. Borrower claims that the Sr. Mortgage Banker was going to speak to his manager to see if the loan can get approved.
3. Borrower claims that he was promised a full refund of the $495 appraisal deposit.
loanDepot Findings and Response:
1. loanDepot sincerely apologizes for the miscommunication between loanDepot personnel and Mr. [redacted]. His concerns have been escalated to management and have been addressed internally. Furthermore, loanDepot will use this training opportunity with our staff.
2. Unfortunately, loanDepot could not do this loan for Mr. [redacted], as we had to respectfully decline his file due to the total debt-to-income ratio being too high. In process, multiple underwriters reviewed the Profit and Loss Statement for Mr. [redacted]’s business, [redacted] Associates LLC, dated January 2014 to December 2014. On this document, a negative income loss/declining income trend was discovered. This caused the borrower’s debt-to-income ratio to be over 100%.
3. loanDepot found no viable evidence in where Mr. [redacted] was promised a full refund of that $495 appraisal deposit. However, as a faith of good gesture, loanDepot has issued a full refund of $495 to the MasterCard ending in 0285 on November 10, 2014. The transaction ID number is [redacted].
loanDepot apologizes for the inconvenience Mr. [redacted] experienced in regards to the miscommunication between him and loanDepot. Ultimately, we had to decline his file due to his debt-to-income ratio being too high for loanDepot to lend upon. As a faith of good gesture, we have issued a full refund to the borrower in the amount of $495. 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.

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 previously stated they have wasted my time and they do not care because they do not value me as a client or care to compensate me for my time wasted. However, they protect themselves with a lock-in fee in order to prevent me from wasting their time. The saddest thing is that I was recommended their company from another customer and close family friend. I will not recommend this company as the way they conduct business is improper. They "value privacy" but made transgressions they tried to correct it but have no reason to believe they helped the other party. They wasted mine and my wife's time and don't care. The outcome I seek is for compensation of my time lost as they expect to be compensated for theirs. While I would be open to mediation, I was told directly in my last conversation and stated in my immediate complaint that no matter what I do they have made their final decision. My contact number is [redacted]. With that in mind I don't understand the point of mediation, they don't respect their customers. One member of their staff [redacted] even had the nerve to try discuss future business with me if I wanted to refinance again later. While this gentlemen was the only person that was at least up front, honest and communicated throughout this process, it is still a ridiculous question to ask a customer who hasn't been satisfied and is frustrated with his company. In reference to their last response their employee could not explain why I could not log on to pay my loan until 3/13/15, when I received a letter stating 2/25/15. Poor training, poor communication skills, and poor customer service. This is still an unresolved complaint, I feel as if Loan Depot is looking for me to just except their response but I don't. The way I was treated was unacceptable, disrespectful, and I was told I should of taken a loss of my initial deposit of $400 if I was so unhappy. That is not the proper way to treat a customer.
Regards,
[redacted]