LoanDepot Mortgage Complaint

Conventional fixed mortgage Application, originator, mortgage broker

LoanDepot Mortgage department,

Conventional fixed mortgage Application, originator, mortgage broker Michigan

I started a refi with Loan Depot. I was given my final closing documents showing my portion to close was approximately $400.00. I then get a phone call 2 days prior to closing f stating hat the loan officer had made a mistake with the numbers and I would need over $6000.00 to close. I asked the new individual that i was working with if he was certain that if I came up with the new amount if the loan would close. He advised me it would. I took a withdrawal on my - for the monies needed. I received my final closing documents again. Less than 24 hours before the closing I was told that there had been a mistake with their figures on my debt ratio and they can not close the loan. I asked how did his happen as my debt had not changed at all since the approval. The loan officer advised me that an underwriter that is no longer with their company made the error and calculated overtime in. I have never had overtime nor did any documentation that I had given showed ANY overtime. I then asked the company to refund me my taxes and penalties that I incurred due to getting my monies to close and Loan Depot has refused. This is a fine example of fraudulent activity by their company. I want this fully investigated.

LoanDepot customer in Michigan
Mar 24, 2017

* Source: CFPB Complaint Database

LoanDepot response to complaint:
Closed with explanation

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