loanDepot

I decided to refinance my home due to having to complete major repairs in my home. The original loan officer I expressed the reason why I was refinancing. Then the loan was given to a processor name Molly who did not verbally inform me that there was a $89,000 lien on my home. I knew about that but was under the impression that the lien was to be paid off at the time that I sold my home. Since I was not selling my home I did not know I had to pay off the $89,000 in loanDepot. Never informed me of this. If I had known I would have pulled out of the application process.

After a prolonged process where I was told they had everything they needed they would require more. My loan officer Mike ** disappeared completely after paying their $495 fee to start the process. He literally stopped answering any emails, text, etc. Now, 4 days before loan closure they have told me it will require another $4412 out of pocket to rewrite and file the deed. These are state fees they said and there is nothing they can do about it. I contacted the state office and was told the fee is $120 for the first page and $1 for additional pages, usually around 40 total, about $160. The state agent advised I push back. Seems like extortion to me.

After months and multiple phone calls, changes of information I was told I could not refinance with them even though I had a loan already with them. My PMI is 600. Have made 16 payments on time. They were asking me to get documents from the company even though they work for the company. Just very poor overall!!!

Awful process. Account manager took weeks each time to ask for documentation even after they said they had everything they needed. Loan officer agreed on an interest rate, but they did not disclose they were using origination points to obtain that competing interest rate. As the process dragged on, without explicitly telling me, they would switch out the Loan estimate for one with higher and higher origination points. They also blamed me for how long it was taking saying they had to keep increasing the origination costs because I was "dragging my heels" with the documents.

Borrower Beware! I had a horrible experience with Loan Depot. Don't be fooled by their TV commercials. Thank God I cancelled my application! Here's some of my experience-- The first clue: they charged me an upfront appraisal charge of $495. No other company does that. By the way when I finally cancelled it took a couple of weeks for Loan Depot to refund my money. Next, my loan officer was either incompetent or dishonest. He kept changing the loan costs and the final Loan Estimate was simply unsatisfactory. When I cancelled he had a fit and his supervisor wasn't any better. They seemed desperate. They reminded me of used car salesmen. After I cancelled someone keep calling and calling. They wouldn't leave me alone. I could go on and on but I think you get the idea. I finally chose a local lender and am very pleased with the face to face service.

We started on 12/30/21 to re finance our home; paperwork was sent; then after a week a different loan officer takes over and has to start from scratch, after a week did not lock interest rate, than total for closing went from 11K to 19K. Stated previous person was fired for doing wrong loan paperwork. His boss was trying to fix this mess, to no avail. Company don't want to proceed even if it was their fault. Florida's attorney's office will receive all information. Hopefully Loan Depot will stop these practices. BE AWARE.

They said I had my loan 2 times, they wanted 2 appraisals because they strung me out for 9 mos! Retired, Paid all my payments, Was 3 months ahead! DON"T Fool with this people! No Worry! I am going to report Y'all! Discrimination!

My gosh!! Consistently harassed by Loan Depot. They call and tell me I applied for a loan. I tell them I never applied. They tell me I did online. I ask them when did I apply? How did they gather my information? They told me never to contact them again. And they will file charges against me. I don’t know I was curious who was using my personal information? Seriously I was blamed.. Then they contact me by use of my deceased younger brother. As well as some guy who lives in Colorado. They refuse to stop.

We are not even a customer, but they won't leave us alone! If the company were a person, we could get an order of protection against them. We looked online 5 weeks ago for rates on a potential conventional loan refi. We ended up with a list of more than a dozen companies. Loan Depot was on the list, but used high points costs and fees to allow them to advertise a competitive interest rate.

It started out great. At first gave them the first information and told her I was 1 month behind and she kept taking more info and send to underwriting and I would hear back. Well I did 3 different times for different papers and after 4 different extension dates and a total 3 month waiting told declined because of being behind and was told by voice mail over the phone. So not very happy with them. Also paid for an appraisal which never should have been done in the first place. Looking for a refund. "Sorry cannot give it because we already paid it to the appraiser." To top it off I get an email the other day saying, "Sorry for misunderstanding you." P/S I would not recommend them at all.