LoanDepot Mortgage Complaint

Conventional fixed mortgage Loan servicing, payments, escrow account

LoanDepot Mortgage department,

Conventional fixed mortgage Loan servicing, payments, escrow account Illinois

I recently purchased a residence and was making half-payments every other week. My mortgage was transferred to LoanDepot at which point I was never informed of their practice to not accept biweekly payments. After two months ( - ) I began to receive letters in the mail advising I was severely delinquent, while I received only one check returned in the amount of a biweekly payment. After speaking with a representative to make corrections, I was informed by this representative on - - that my account was current and up to date and " I was fine from here ''. There were also deductions from my checking account in the amount of the payments requested to correlate with this information. However ... on -/-/- I received another letter in the mail stating I was again two months behind payments in the amount of $3200.00. It is clear LoanDepot misrepresents information by not properly disclosing a change to acceptable payment amounts, and utilizes confusing tactics by mailing six statements within a one month period ... each with a different amount due. I have a recorded message from the representative, and copies of all bills and receipts upon inquiry.

LoanDepot customer in Illinois
Mar 20, 2017

* Source: CFPB Complaint Database

LoanDepot response to complaint:
Closed with explanation

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