Anonymous
map-marker Lucasville, Ohio

Bills for nothing

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sent payment 3 days ago got two bills today Ninja
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Reason of review:
Problems with payment
Anonymous
map-marker Ann Arbor, Michigan

Trying to get your name off their list is nearly impossible.

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Today, yesterday, and last week. All this because I was foolish enough to fill out a form that came unsolicited in email. While the individuals are nice enough on the phone, after I explain that I'm not currently ready and suggest a call 3 months or more from now, and they say they will put it in their record, and get additional calls on additional days.
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Reason of review:
Poor customer service
Brandon C Lys

Dishonest Lending at it's finest-

I've spent 10 years in the mortgage industry and I'm very familiar with the underwriting guidelines for conventional financing. I inquired with a Loan Officer with Loan Depot regarding their underwriting policy for Commission income.

I advised that I took a full year off from my previous commission income role and started my own business. Since then i had recently taken a commission based position again and had been working their for 4 months with proof of hourly wage and very high commissions.

The loan officer assured me they could use that income. I explained to him i was still incredibly concerned with his response and would request a full underwrite prior to me sending any offers to purchase a property. I provided 3 years previous Tax Returns, Last Paystubs from my previous commission role and my most recent and current paystub.

It took 2 full weeks to get pre-qualification letter but was approved for 335k.

A few days later I found a property for 165k and put in an offer and it was accepted, now its 3 weeks later and they are stating that the underwriters can't approve the commission income because it wasn't for at least 6 months. They will only give me credit for the hourly rate which is not sufficient for a home of 165k let alone what they initially approved me for of 365k.

Now I'm out 500 for an appraisal, 250 for an inspection and I have a costly credit inquiry on my credit report that will negatively impact me for a minimum of 6 months all because of dishonest lending practices.

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Loss:
$700
Reason of review:
Poor customer service

Preferred solution: Full refund

Mallory S Gzf

Awful

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This is the worst mortgage company I have ever dealt with. Apparently someone messed up on our closing documents and our home insurance was only valid for 6 months and we were unaware. Our insurance expired in October 2018 and we were NEVER notified. Loan Depot then took the liberty to put our house in foreclosure, again without ANY written notice.. no certified letter or anything. Once we found out (through a friend browsing the internet) that our house was in foreclosure we called in a panic to Loan Depot. They told us what happened and transferred us to the insurance company and everything was fixed and good to go according to Loan Depot. A few weeks later I check online to confirm the house had been taken down but it was in an OPEN BID AUCTION!!!!!!!! We called Loan Depot and they advised it was out of their hands in now in the state of Georgia's because 3 months without insurance was a void of contract. Loan Depot completely failed in every aspect of being a lender. If our insurance was expired we should've gotten a letter and if our house was in foreclosure we should have gotten a certified letter especially. Completely dissatisfied with how the situation was handled. PATHETIC EXCUSE FOR A LENDER!!!!
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Loss:
$109000
Cons:
  • Literally everything about this company they suck
Reason of review:
Poor customer service

Preferred solution: Let the company propose a solution

Anonymous

RIP off

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Make u pay fees up front...then either deny u or rip u off
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Loss:
$400
Reason of review:
Bad quality

Preferred solution: Full refund

Robert D Gui

Lied too and ripped off

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I received a cold call from Alex Phillips of Loan Depot to refinance my home. I told him I had been turned down by many companies because of my debt to earnings ratio.

Alex asked me a number of questions and came up with a strategy he said would get me approved, so I said let’s proceed.

He offered me a great rate which sealed the deal. I signed the lock agreement and started working the details with Alex

Long story short, I provided everything they asked for very quickly.

Every time they asked for something more I would respond very quickly. I paid their interest lock fee of $19, I also paid $450 for an appraisal and $517 to cancel and renew my homeowners insurance to show “Owner Occupied”.

It makes me feel as though their underwriting department is calling me a liar because they have a hard time believing I live in my house

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Loss:
$1000
Cons:
  • Broken promises
  • Way i was treated
Reason of review:
Not truthful

Preferred solution: Refinance my loan

Judy J Avi

Big ripoff. no help in dealing with assessment

July 2019. Assessment in July 2019 was 25,000.00 less than the assessment in December 2018. They could do nothing about it. I do not feel my contact Aaron Lewis was experienced enough to handle the problem with this situation. I threw 500.00 out the window as they said there should not be a problem getting the appraisal needed.
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Loss:
$495
Cons:
  • Multiple delays
  • Inability to get valid home appraisal
Reason of review:
Pricing issue

Preferred solution: Full refund

Bergen A
map-marker Aurora, Colorado

Worst customer service ever

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The loan itself was fine, we got a great interest rate, but that's where the positives end. This company is a hot mess. They'll mention crucial documents for the first time THE DAY THEY'RE DUE and expect you to have them on hand. They'll sell your loan immediately but give you vague or incomplete information and make you hunt them down to figure out how to pay the damn mortgage. They need to get their act together in a big way.
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Pros:
  • Interest rate
Cons:
  • Clarity of communications
  • Timeliness of communications
  • Customer service
Reason of review:
Poor customer service
Anonymous
map-marker Allen, Texas

Discrimination

Discrimination against black applicants period!
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Reason of review:
Poor customer service
LEONARD R Lgs

After 3 mounts

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Received letters for being behind in payments all payments received on 2nd of month made on their web site after calling customer service they are saying payments are received on 20th still not resoved
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Reason of review:
web and payment
Jewell H Voy

Extremely poor customer service

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Updated by user Jun 16, 2019

No response from Loan Depot. Sent complaint to the BBB and they sent a message that the case was closed, due to my non response...well you got to get something to be able to respond.

Original review May 17, 2019
I looked at a condo for sale and was up front with the real estate agent. My credit is bad, she said she had someone that could help me get a loan, she recommended Jeff Apple. To say I am disappointed is an understatement. He does not respect the company he works for nor the customer. I have texted, emailed, called, left messages and he has lied or not answered. This started last Monday, May 6, 2019. I have fired him and will be looking elsewhere for my loan needs. Also placing a complaint with the BBB.
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Loss:
$1
Cons:
  • Miss comunication or broken promises
  • That they lied
Reason of review:
Poor customer service

Preferred solution: Let the company propose a solution

Celeste P Apg
map-marker Hudson, Florida

Refinanced my loan with Loan Depot. I hope there is no chance of Loan Depot selling me back to Statebridge.

Ongoing problem with Statebridge LLC for months now and I certainly don't want to be sold back to this corrupt company.
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Angelo Jlh
map-marker Bedford Hills, New York

Can not get a answer

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I have contacted Loan Depot with a simple question, what is this new refinance with the federal gov't that saves you money. NO one can answer this question all they want to do is take your in formation and give you a quote but can not answer what this new program is, they want to sell you something but not the program they advertise. they all are full of *** be wary
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Cons:
  • That they dont give you the questions you ask
Reason of review:
Bad quality
Anonymous
map-marker Allentown, Pennsylvania

Cancel our homeowner insurance policy

We were going to loan depot and processed Til almost statement but found out that error papers so I turned them down for home loan however they told our current homeowner insurance policy cancelled. We lost our homeowner insurance and we can’t get insurance to fix our siding ,gutters and roof after bad storm.
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Reason of review:
Poor customer service
Brookie Qza

Scammers

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They were suppossed to fund my loan,buried me in red tape for 3 months, checked my credit score 5 times lowering it 50 points. Wanted me to buy additional insurance on my house which I refused to do. Verified my employment three times then the day before I was suppossed to have the check fed exed, they refused to fund me becauze I lost my job throught no fault of my own even though my husband gets a pension check from the VA every month which more than covers the loan payment every month. Andrew Romeo is an arrogant little *** ant who should be fired. You will be better off making a deal with the devil himself. I wouldn't recommend them to anyone
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Reason of review:
Bad quality
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