Bryonna Wik

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| map-marker Scottsdale, Arizona

Loan Depot: Rude Loan Officers

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Refinancing my house appears to be a BIG FAT FAVOR that this company is doing. It is pretty obvious that this company is least interested in doing a customer any good or they would hire better loan officers with a decent tone and manners.

In the first five minutes of my conversation, despite the fact that I am more knowledgeable than most shoppers, the rude loan officer appeared to be using scare tactics and a rude tone and told me things like "you are not getting cash back" (I has just told him that I was not looking for cash back) Next, he told me that I should do better homework when I was actually giving him information about other lender offers (a clear indication that I do my homework as well understand apples to apples comparisons/market rates etc. He gave me the wrong number from his file about the value of the house, while I gave him the right number, which was lower and insanely, he said, people don't have a clue about house values. Excuse me!! A less than 10 minute conversation indicated that this man was going to do nothing but rant!

I told him exactly what I thought and said I was interested in going with a company that had rude officers and he did not seem to mind it.

Ego-centric, misinformed, rude jerks! Think again before doing business with such arrogance!!

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Cons:
  • Customer service
  • Dishonest sales tactics
Reason of review:
Poor customer service

Preferred solution: Let the company propose a solution

Anonymous

Refund for over payment not refunded

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Loan paid off 3/6-7/2017 overpaid asked for them to send me a check was told check was mailed 3/10 after a few days called only to be told to be patient. Here it is 3/27 was told on 3/24 they would wire transfer amt to my checking acct immediately.

Still not in my acct and am now told they are not sure the wire transfer was done. Very very very poor customer service. Can not tell you how many times I have contacted them only to get the run around.

Not sure if I should go to the better business bureau or attorney general office. They loandepot just do not seem to care....

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Loss:
$413
Cons:
  • Getting the runaround
Reason of review:
Poor customer service

Preferred solution: Full refund

Anonymous

Extremely bad service: Don't answer call/email/voicemail/any possible communication

I applied for mortgage and representative ensure me that all documents are fine and all i need is just to pay for appraisal and credit report, that I did. He said that he can do it without underwriter and very fast.

But then he rollover case to underwriter who turned it down. Well, it happens sometime that we don't get something we want, but than he, his manager or underwriter, - none answering on calls/messages/emails/voicemail to send us letter, so realtor could return us earnest money or to return as appraisal money!

They were very active to get money, now they hide them-self to not help us or pay back our money. Absolutely worse service I ever had in my life.

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Loss:
$6000
Reason of review:
Poor customer service

Preferred solution: Full refund

Anonymous

Loan Depot - Loan Refinance Review

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Refinance Loan. We were honest about my husband only having his current job for 5 months and the first person we talked to assured us that it would not be a problem. Second person that was to finish the loan process was very unprofessional, the processor would never answer my questions or return my calls so i had to start dealing with supervisor. The supervisor started out ok about returning calls. By this time i had already paid for the appraisal, our bathroom did not pass because we were in the middle of a remodel and part of the refinance was to finish some projects so we had to finish the bathroom project first that cost more money. Then this is where it gets good, i was told that i needed my doctor to write a note to say that my condition would not improve in the next 3 years. I am permanently disabled and collect SSDI. IT IS ILLEGAL FOR THEM TO ASK FOR ANYTHING OTHER THAN MY AWARD LETTER FROM DISABILITY SO THEY DISCRIMINATED AGAINST ME AND BROKE ONE OF THE FHA AND ADA RULES AND LAWS. They stated it was my because my husband had not been at his job for 6 months but was still gonna require a letter from my doctor and enough money in bank that would cover three months of mortgage payments. I was told it was denied for length of work for my husband again we were up front about that. They could of told me at the beginning that his work was not long enough and i would not have wasted time and money on appraisal and bathroom update. BEWARE THEY LIE CHEAT STEAL AND DISCRIMINATE. CROOKS I HAVE FILED COMPLAINTS WITH FHA, FTC, STATE ATTORNEY'S OFFICE AND CIVIL RIGHTS. I HAVE ALL PROOF IN EMAILS AND RECORDED PHONE CALLS
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Reason of review:
Poor customer service
Anonymous

Loan Depot - Loan Review

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Took 3 months. Gave me paperwork on a loan at a specific interest rate with cash back and 4,000 closing costs. Called me to schedule closing and had completely changed the loan to where I was not getting cash back - without even consulting me. Long story short - had to add my wife to loan - re run credit - and pay a higher interest rate and 3500 more closing costs. Had to provide the same documents over and over. Nobody was on the same page. MY ADVICE USE SOMEONE LOCAL !
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Reason of review:
Problems with payment
Anonymous

Pushy and high pressure sales tachtics

I was working with Yousuf Shah to refinance my home. everything was fine and I asked him to call be back in a few hours so I could that to my wife.

I did not hear from him for a day and a half. he stated there was something wrong with my phone which is not true i was on the phone with other loan companies. He than stated he sent 5 emails. I am sorry but I do not sit in front of my PC all day on my days off from work.

I told him I would review and get back to him. Mr Shah wanted to than hang on the speaker phone while I reviewed it with my wife. I told him no that I would get back to him. for the 3rd time he asked for my credit card number I told him no.

I would not do that until I agreed ti the loan which I have not even read yet. Mr Shah than called me a procrastinator and I was stalling the the loan.

I guess because I would not submit to his high pressure tactics. Stay away from this company

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Reason of review:
Poor customer service
Balian Cvn

Dishonest Quote

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Updated by user Feb 08, 2017

I thought my issue had been resolved until I had my inspection. I didn't have any pests but I had moisture that was borderline and the inspector said it depended on if his boss needed the work or not if he would give me a passing grade, "WHAT"? So then I get an...

Original review Jan 09, 2017
When I first talked with Loan Depot about refinancing my home things went well. However soon afterwards things went wrong.

First thing was that I was told that my appraisal would be $300.00. couple of weeks later I received a letter from them stating my loan quote, in it I was charged $400.00 for appraisal. Then today I was called by a representative and was told my appraisal was $440.00 and that I now was going to have to pay an additional $150.00 for termite inspection which was not mentioned a month ago. Also I was getting a VA loan and would now have to provide my DD form 214 which after being out of service for 40 years I could not find and that will cost me extra to get it.

Its not their fault I lost it but it would have been nice to I needed it back when I was getting together all documents I needed for the loan. Now I'm told that if I cant get it by such and such time I will not get my locked in rate. Anyone that was in the military knows it takes time to get such documents.

I have emailed the loan officer Keenan Duran twice and he hasn't responded to me. This is unacceptable and if I cancel my loan I will lose my $440.00 on the appraisal.
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Loss:
$300
Cons:
  • Dishonest loan practices
Reason of review:
Poor customer service

Preferred solution: Let the company propose a solution

Ansen Qly

Loan Depot Loan Refinance Review

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poor communication and appraisal was $110k off I began the process with Loan Depot in June of 2016 when my secondary building was being completed. By September we started moving on the loan, we were locked in at 3.5% and I liked the terms.

The appraisal came back low ($420k)and a got the rejection via email, not even a phone call, I got an automated email at 5am on a Friday. Not cool. Further, the appraisal was $115k lower than what my current bank appraised it at a week earlier($535k). Loan Depot put me through some kangaroo court review and I never got updated unless I called.

They said they would review it and my rep said it was a ridiculous appraisal and they'll get it approved. It never did. I had to pay $450 for the appraisal and with the time wasted I had to go with a 4.125% rate instead of 3.5% because Loan Depot stung me along.

We just appraised at $530k in a down market compared to when Loan Depot's appraisal happened. Terrible customer service, their appraiser did a terrible job and I would never recommend Loan Depot to anyone.

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Reason of review:
Pricing issue
Anonymous

Loan Depot - Loan Refinance Review

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Do NOT use this company for a loan. Let me tell you that over the course of my lifetime I've mortgaged 8 properties and never in my life dealt with an organization that is so disorganized and non responsive.

My loan has changed hands at least 4 times. Each time the loan processes or switched they began asking me for duplicates of everything he had on day two. Then I got an email saying they were cancelling my application because had nothing from me (on day 30 when they had probably 2 - 3 copies of everything). Once I cleared that up the loan changed hands yet again (round 4).

The best was a 7pm call telling me If I didn't sign papers and get them back by 9pm then the rate would unlock (twice). Lastly the rate finally did unlock because of this incompetence. And now it's been over 90 days. I've lost my low rate.

And I need to start all Over somewhere else. Do NOT ever work with this company.

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Reason of review:
Order processing issue
Anonymous

Loan Depot pays for two closings doesn't close loan

I received a call from Loan Depot for a refinance for a 10 year with a 3.0 interest rate. Right from the get go they dropped the ball.

I didn't hear from my loan officer, processor, or anyone from Loan Depot for three weeks or a month. Finally I called them to ask if it was cancelled but, just as others have claimed they were still trying to find their ***. The loan was in process. So it came to close two months later and we had some charges that we did not understand.

Loan Dumb *** were not around to talk to so we cancelled the loan. They called me back and explained everything and said that since we cancelled we would have to re sign the papers. They sent out a closer and I thought that the deal was done but, no it never went through. I spent all day trying to contact someone to only discover that I would have had to re apply and then the loan would close.

Problem is that it has been almost one month now and no one informed me that the loan didn't close.

I guess I thought that since they sent out a notary and all the paperwork that I just closed on a loan. Imagine my surprise to discover that I still have my same mortgage.

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Reason of review:
Poor customer service
Anonymous

Stay Away!

I contacted Loan Depot to see about refinancing our current loan. I was told the loan would take approx.

60 days to close. We supposedly were "locked in" at a certain percentage rate. After jumping through one hoop after another and being told multiple different reasons why it was taking so long, the end result was 4 months of not closing the loan, being told another company couldn't do it in the time they stated, and then being told we had "timed out" on the current loan and the rates went up so we would have to start all over, we then went to a different company who closed our loan in 40 days.

Stay away from this place. They DO NOT know what they are doing!

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Reason of review:
Order processing issue
Anonymous

HARASSMENT!!!!!!

Don't EVER give this outfit your contact number!!! I receive an average of four to five calls a day!

I have asked them a MINIMUM of 15 times, in two weeks, to remove me from their calling list! They continue to call, several times a day, beginning at 7:00 AM! An individual called last evening at 4:45, I told him not to call again, I received a call from the same person at 8:57 this morning! Apparently, they also use some sort of automatic dial, so they call, when I answer the phone, THEY PUT ME ON HOLD!!!

Each time that I tell them not to call again, they cut me off!!! In my opinion, they are rude, pushy, and extremely unprofessional!!!

I would NEVER do business with them! I'm to the point, that I feel I am being HARASSED, I'm going to look into legal options to stop the calls!!!

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Reason of review:
Other issue
Anonymous

If you're looking for speed or good service don't use Loan Depot!

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We started our loan process over 3 1/2 months ago. Knowing that it would take a while to get an appraisal, we told the loan office just that. After being told several times that it was assigned to an appraiser we found out that they couldn't find one...so we found one that came out a few weeks after we provided loan depot their name! Loan Depot then flooded that appraiser with business and our file was not prioritized. Meanwhile, calls to our loan officer and loan closer went unanswered as interest rates were rising. No one followed up, called back, etc. They extended our lock but didn't tell us we would be charged. Our loan officer waived the fees but at closing they re-appeared and he disappeared! We are now paying $8k in closing fees and 1% more in interest because Loan Depot doesn't actually manage the process...costing us thousands more! It makes one wonder if they are just a machine or if they actually delay the process to collect more fees...! DON'T USE THEM!
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Loss:
$68000
Pros:
  • Online application
Cons:
  • Lack of concern or problem solving by management
  • Customer service response
  • Follow through
Reason of review:
Poor customer service

Preferred solution: Let the company propose a solution

Anonymous

Loan Depot Loan Refinance Review

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I am displeased with Loan Depot and the process.from day one i was over charged for our appraisal and had to fight to get the money back i was over charged. I was supposed to close in 2 days and was just told our debt ratio was off because they couldn't count our business of 3.5 years because we deduct business expenses from our 1099 and the amount we pay taxes on isn't enough.

I explained that she was a 1099 employee from day one and this never came up until now. Very disappointed in the lack of communication during the process.

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Reason of review:
Pricing issue
1 comment
Guest

I was called today, 11/29/16, at 4:51 pm and told my rate lock expired. But I was offered to do business with them again at a higher rate and if I wanted the same promised rate I would have to pay 20 thousand dollars.

All this after I have been emailing and leaving voicemails. They said they can't do it because my income suddenly became a problem.

I work on tv shows/movies making great money (so grateful) but my vast number of employers is baffling their underwriting staff. SCAM SCAM SCAM RUN THE OTHER WAY!!!

Anonymous

Short Review on February&nbs-05:00;08,&nbs-05:00;2017

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Was told one rate in the begining and then half way through the process i was told a higher rate and then after appraisel another rate and more money. NO WAY will we deal with this loan depot. RUN away dont walk.
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Reason of review:
Pricing issue
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