Review and analysis of over 75 complaints against LoanDepot
LoanDepot consumers have reported over 75 official complaints related to Loan servicing, payments, escrow account. Out of the 75 consumer complaints against LoanDepot, 13% were disputed by the consumer (i.e. the consumer was not happy with how LoanDepot responded to their complaint) and 99% were processed in a timely manner. 0% of consumer complaints against LoanDepot resulted in the consumer receiving monetary compensation (e.g. money, cash reimbursement, etc.) and 0% resulted in non-monetary compensation.
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LoanDepot Mortgage loan servicing, payments, escrow account March 20, 2017 - 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 fro... |
LoanDepot Mortgage loan servicing, payments, escrow account March 19, 2017 - We closed our home on or about -/-/-. The development was financed by imortgage. At the time of purchase we were made aware by both the builder and imortgage that the development was subject to a special tax by the local school district and since both the mortgage company and the builder had closed several houses previously, the special tax rate would be included in the our mortgage. We signed off on a declaration acknowledging the special tax. This process started sometime in -/-/- at which we signed our first packet containing the good faith estimate, which was to include the speci... |
LoanDepot Mortgage loan servicing, payments, escrow account March 10, 2017 - My city sent me a legal notice stating my taxes were delinquent and there would be a tax sale. When I contacted the city they stated my taxes had not been paid all year. I contacted the mortgage company and they started there research -/-/-. I called back two weeks later they stated a resolution date of -/-/-. I called -/-/- they said to call back -/-/-. Today is -/-/- I called the city and they said they have still not received any payments and no one has been in contact with them.... |
LoanDepot Mortgage loan servicing, payments, escrow account February 21, 2017 - On - -, 2017 I received my monthly statement from Loandepot stating " unscrupulous '' information in terms of defrauding and financial gouge on our mortgage loan with a different address shown below : LoanDepot - - - - - - CA - We are sincerely concerned about fraudulent scam activity loandepot harassing us with our mortgage loan. The amount of our Mortgage : Principal balance totally incorrect. As we are 3 months ahead with our payments. And that is : -, -, -, 2017. - payment we made in - -, 2017 check # - & - amount & - each. We are reall... |
LoanDepot Mortgage loan servicing, payments, escrow account February 16, 2017 - Hello. I had a mortgage with Loan Depot for over 2.5 years. I have refinanced and the loan was paid off by my current lender. However, my bank sent one more mortgage payment, after the loan was paid off and Loan Depot received the money. Here is the transmission information : -, and the confirmation number is -. However, Loan Depot is telling me they do not have the money and they are not refunding - which my bank paid on -/-/17. I have not been able to get anyone at Loan Depot to check into this and get me my money back. I have a ton of correspondence and I called, at no avail.... |
LoanDepot Mortgage loan servicing, payments, escrow account February 9, 2017 - My Response to Loandepot - -/-/- The information Loandepot mention & provided are n't true. When we Refinance our home in - - with loandepot. Homeowner insurances was still active from " - insurance company ''. I contacted them several times. and they sent me proof and I 'm sure I disclosed to loandepot such proof of homeowner insurance then. all through - & - still active. I do n't know where loandepot got their information from. But, they are n't true. We have gone through hell with their Dishonest services with our Refinance since : Terrible Dishonest, trying hard... |
LoanDepot Mortgage loan servicing, payments, escrow account February 1, 2017 - ON - -2017 I SENT iMORTGAGE ( LOANDEPOT ) ( - - - -, - -, CA. - ) - 'S PAYMENT WITH ADDITIONAL MONIES INCLUDED IN THE PAYMENT CHECK, IN THE AMOUNT OF $12000.00, TO BE APPLIED TO PRINCIPAL ONLY. THIS OPTION WAS OFFERED TO ME ON THE PAYMENT COUPON, WHICH I FILLED IN. THIS WOULD HAVE BROUGHT MY LOAN PRINCIPAL TO - ( $0.00 ) THE CHECK CLEARED MY BANK ON - -, 2017. ON - -, I RECEIVE A PAYMENT STATEMENT FOR -, WITH A PRINCIPAL BALANCE OF $12000.00. THE $12000.00 I SENT THEM HAS BEEN DESIGNATED AS PARTIAL/UNAPPLIED PAYMENT. AND THEY CONTINUE TO... |
LoanDepot Mortgage loan servicing, payments, escrow account January 10, 2017 - I have had a VA mortgage with Loandepot, a licensed CA company, since -/-/-. I have an impound account with over $ - in it, and pay $1000.00 per month just in taxes. I have - supplemental bills from the county assessor due -/-/-, totaling over $ -. Since -/-/-, Loandepot has made repeated misrepresentations to me about the escrow account, the amount of property taxes they have paid and will pay ( they have paid $2000.00 in -/-/- and will pay another $2000.00 in -/-/-. ) They will not pay the supplemental tax bills, and they will not release the money in ... |
LoanDepot Mortgage loan servicing, payments, escrow account January 6, 2017 - I notified my mortgage lender that the State of - was going to pay taxes because I am - back in -/-/- in writing per RESPA rules regarding correspondence and the lender did not answer with in - days. I asked the lender to answer and to remove the taxes from my payment this request was made threw correspondence and over - phone calls, including - of - approval letter - that were sent to the mortgage company telling them the mortgage taxes would be paid for -/-/- and -/-/-. I asked that the impound account be removed and it was denied with no letter they told ... |
LoanDepot Mortgage loan servicing, payments, escrow account December 16, 2016 - Was contacted by - - at Loan Depot to refinance our house with a lower interest rate for our VA home loan. We discussed the amount of consumer debt we had that was being handled by - -. - - said we could solve that. So we applied and everything went well and we discussed making sure that we had the right amounts as some of them have been paid off and/or in the process of being paid off through - -. No problem that will be done. After closing the closing company sent us the checks made out to all the creditors and not with - - as we had been told. No one even calle... |
LoanDepot Mortgage loan servicing, payments, escrow account November 29, 2016 - I recently refinanced to a loan with Loan Depot, - - - - Tx. -. Loan Depot never sent me my statement the first month I was with them. I called in on -/-/2016 to get a statement. Loan Depot sent me a statement and I made my payment over the phone. I called back -/-/- and -/-/- to make sure payment was received because I did n't see it come out of my account. Both times, I was reassured that my payment went through and posted. My payment did not post due to a wrong account number and I was charged a fee for this. I called in multiple times to confirm that payment went... |
LoanDepot Mortgage loan servicing, payments, escrow account November 22, 2016 - Completed refinance with I Mortgage Company from previous lender - -. Loan closed early -. My first payment due date was -/-/2016. I 've made both - and - payments and have statements from IMortgage as both cleared with my bank ( -/-/16 ) and -/-/2016. Receiving notices and threatening phone calls from IMortgage that they have n't received payments. I have spoken with them twice and they state it takes up to 60 days for " their system to update ''?? Just received another statement from them asking me to pay for - and - as well as upcoming - payment. Ag... |
LoanDepot Mortgage loan servicing, payments, escrow account September 10, 2016 - I am writing in regards to my mortgage company ( Loan Depot ) failing to pay my taxes for my property and a tax lien was placed on all - of my credit reports due to their negligence. I escrow my taxes per requirement of my mortgage and Loan Depot in return is required to pay my taxes for me. I only knew of my taxes not being paid because I tried to take additional credit out for a credit card and was denied due to a tax lien being placed on my credit report. I have contacted the loan depot a number of times ( via : phone and email ). They have not helped me what so ever. I have tried disput... |
LoanDepot Mortgage loan servicing, payments, escrow account July 25, 2016 - I closed on my house on - -, 2016 using Loan Depot LLC as my mortgage provider. Near the -/-/-, I submitted my first payment of $2100.00 via check to Loan Depot. After I sent the check, and a few days after, I received notification my payment had been purchased by -. My check was cashed as a debit transaction on -/-/2016, and when I called to see why that was the case, nobody on their end had me in the system, nor did they have my address in the system. Despite numerous calls and emails, I have not gotten a response, and my call this morning was actually hung up on mid co... |
LoanDepot Mortgage loan servicing, payments, escrow account June 2, 2016 - I have been dealing with my mortgage company, - - since they bought my mortgage in -/-/-. They are supposed to take care of my property taxes. My property taxes are $ -/year after residential exemption. However, they keep charging me $2700.00 per year. I have contacted them via phone and FA- to ask them to reduce property tax withdrawals from my account to their escrow account, however, they simply ignore my request. Right now, I have $1800.00 in my escrow even though I do n't owe any taxes for -/-/-! And, - - ignores my request to return this money to me.... |
LoanDepot Mortgage loan servicing, payments, escrow account May 10, 2016 - The lender negligently failed to pay city taxes from my escrow account. Unknown to me, a tax lien was filed against my home and has now been sold to a third party. The mortgage company has stubbornly refused to deal with the situation, which arose in - 2015. They respond only upon a threat of regulatory intervention, and then only to say the matter is " under study. '' Meanwhile my credit has been seriously harmed, and my home is at risk. All documentation has been provided to the lender, Loan Depot. ... |
LoanDepot Mortgage loan servicing, payments, escrow account May 8, 2016 - This is a belated dispute to the response supplied by imortgage concerning my complaint of - 2015. Their claim that they needed an appraiser to finalize - form - to verify completion of my home renovation is still fraudulent. They are well aware that form - can be completed by either the lender or it 's agent, an -, an appraiser or a -. Imortgage had already released funds for two previous draws on my account with the verification of completion using documents from my -. It would follow logically that after he submitted his completed paperwork and pictures of the final com... |
LoanDepot Mortgage loan servicing, payments, escrow account May 3, 2016 - My monthly, 30 year fixed mortgage payment has gone up from $860.00 to $970.00 due to an increased amount going to escrow. A small part of that change has to do with an increase in insurance cost ( which is fine ) but the majority has to do with an increase in taxes. While taxes increases can happen, the amount of the increase is primarily due to Imortgage ( website : http : //www.imortgage.com/ ) using the valuation that was given to them from the leasing company and not the most recent appraisal value when giving me an estimated payment amount. In short, they used the valuation from when... |
LoanDepot Mortgage loan servicing, payments, escrow account April 20, 2016 - I purchased a new home in -. Everything as far as the escrow account goes was handled by the lender Imortgage. Well I noticed my payments had changed in - so I called and asked to make sure everything was fine. I was assured that yes, everything was fine and that the payments dropped a little because the taxes went down. She informed me that this can happen with new homes since they often put more in escrow to cushion any tax increases. They then sent me a - dollar check saying that I had paid too much into escrow. That was in - -. Fast forward to - -, I check my bill to p... |
LoanDepot Mortgage loan servicing, payments, escrow account April 16, 2016 - Mortgage abruptly changed to a new Servicer ( from Imortgage to - Mortgage ). My payments are automatically sent every - via my bank. With the late notice, I did not have time to change the payment to the new servicing company. I called the previous company ( Imortgage ) - to explain and request the payment be transferred to the new Servicer - - -. Problem is Imortgage is no longer taking live calls pertaining to my account. I just get an automated message telling me they are no longer servicing my loan. Then the call disconnects. What can I do? I recently received a statement ... |
LoanDepot Mortgage loan servicing, payments, escrow account April 12, 2016 - Imortgage failed to pay my property taxes in - on my new home construction, leaving me with possible late penalties and other charges. On top of that, for my tax refund, I am unable to claim property tax deductions in -. They have transferred my Mortgage to - mortgage as of - -, -. Since Imortgage claims to no longer own my loan, they are deferring any and all responsibility. I have paid $550.00 a month out of my escrow account for property tax & insurance since I closed on this home on - -, - ..., where is my money going? Is this even legal? Property tax payments ... |
LoanDepot Mortgage loan servicing, payments, escrow account April 11, 2016 - I refinanced with LoanDepot with an FHA Streamline loan a little over 2 years ago -/-/- with an original loan amount of -. The interest rate was to be 5.00 % with a monthy PMI payment of around $55.00 a month bringing my monthly payment, including all escrow, to $900.00 a month. I received my first statement for -/-/-, and my monthly payment was higher at $930.00 than the $900.00 I originally agreed to. I called LoanDepot about the situation and after further studying of the account they realized that mistakes had been made by the mortgage broker. I do n't have a full unde... |
LoanDepot Mortgage loan servicing, payments, escrow account April 6, 2016 - My mortgage company " loanDepot '', which collects monthly escrow for my property tax payment was supposed to make the property tax payment on - -, 2016 to - - Treasurer. They did not make the payment. I had called them twice and was told that they will make the payment prior to them transferring the servicing of my mortgage to another company on - -, 2016. Instead " loanDepot '' transferred my escrow balance to the new company ( - - ) on - -, 2016. I called the new company and they said they will put a note to pay this property tax bill which becomes delinquent a... |
LoanDepot Mortgage loan servicing, payments, escrow account March 29, 2016 - Following a refinance in - -, my Loan Servicer did not pay my - Real Estate Taxes from my escrow account in -, the customary time that taxes are paid from escrow. I had an amount listed in the Servicer 's website that provided me with an amount paid in -. On - -, -, The Real Estate taxing authority sent a delinquent tax statement to my home. I researched the Real Estate Tax paid with the taxing authority and discovered that the Real Estate Tax listed on the website was paid in - ( a prior Lender paid the - taxes from escrow ). I have been in contact with the curre... |
LoanDepot Mortgage loan servicing, payments, escrow account March 21, 2016 - I re-financed with loanDepot two months ago. I have always made partial payments with my previous lender ( 2 per month from my banks bill pay service ). loanDeport advised that they do not take partial payments AFTER suckering me into signing closing papers. I informed loanDepot that if they had disclosed their terms in the closing documents I would have stayed with my previous lender or gone with another lender as I had other offers. loanDeport replied that if I continued to send partial payments - things could happen " ( 1 ) returned to you, ( 2 ) applied to your loan, ( 3 ) accepted but ... |
LoanDepot Mortgage loan servicing, payments, escrow account March 4, 2016 - My husband and I have a joint VA guaranteed mortgage that is currently being serviced by Loan Depot. My husband and I received a notice from Loan Depot dated -/-/-, that our escrow account had a shortage of $570.00. On the notice it clearly says that if we pay the extra escrow amount required, our monthly payment will increase from $2400.00 to $2400.00 ( due to expected increase in property taxes and homeowners insurance ). However if we did n't pay the extra escrow, the notice clearly stated that our monthly mortgage payment would increase to $2500.00. On -/-/-, I ... |
LoanDepot Mortgage loan servicing, payments, escrow account March 1, 2016 - -/-/2014, I refinanced my mortgage on a rental property. Because of delays in the loan process by the lender, the close was delayed. This was at a time when my previous mortgage servicer was paying taxes. Taxes were escroed in the new mortgage to pay off taxes due in 2014. Taxes were paid by the old mortgage and the new mortgage company and were refunded to new mortgage. I raised the issue to the new mortgage company and they let the 3rd party closing attorneys know what was going on. I was refunded different amounts to reimburse for taxes that were described as " Double Paid ''. A $290.00... |
LoanDepot Mortgage loan servicing, payments, escrow account February 20, 2016 - My mortgage company, LoanDepot sent me notice that my taxes were increasing $110.00 per year but my monthly payment would increase $70.00 per month. I 've made several attempts to correct the matter via email and phone. Today, I called and the was placed on-hold to speak to a supervisor but no one has picked up the phone for over 45 minutes. I feel like LoanDepot is intentionally giving me the run around to discourage me from having the matter corrected as a similar tactic was used used previously when they asked that I allow them to analyze the matter and then they would call me back. ... |
LoanDepot Mortgage loan servicing, payments, escrow account January 28, 2016 - I just received a new loan through LoanDepot. I 'm having trouble setting up an online account, as I want to pay beyond my minimum but i want to make sure I can set it up as additional principle. The web site wo n't let me register for an online account, and there is no phone number to talk to anyone directly. I emailed, and I got a response they needed more information - I do n't feel very comfortable sending my loan # and last - of a social over email, but they wo n't communicate with me unless I do so. I 'm told 24 hour turn around. 1 week later, I get an apology email for +24 hours ... |
LoanDepot Mortgage loan servicing, payments, escrow account January 6, 2016 - Loan # - LoanDepot issued an Escrow Surplus refund check in the amount of $6700.00 on - - 2015. To this date i have not received the check. I have emailed, and called customer service several times to get another check sent out ( with a tracking number ) ... |
LoanDepot Mortgage loan servicing, payments, escrow account December 8, 2015 - I am currently experiencing payment problems with LoanDepot. This company is servicing my mortgage. I have been using my BillPay service at the credit union to pay the loan since - 2015. Everything was fine until - 2015. Starting with the - payment LoanDepot has been rejecting the payments and sending me notifications in the - Mail that my loan is on the brink of foreclosure. My BillPay service does n't understand what is going on either. They are not getting any information from LoanDepot. ... |
LoanDepot Mortgage loan servicing, payments, escrow account December 8, 2015 - I have been a customer of LoanDepot for a year and havebeen making timely payments on the same date everymonth through my online banking. Although submittingpayments on time in the past three months and the moneygone out of my account, I was told by LoanDepot that mypayments were not being received. No troubleshooting orassistance was offered as to root cause of the issue and Iwas afraid of fraud, otherwise I could not explain why themoney was gone out of my account but not received. LoanDepot advised me to call my bank and the bank saidLoanDepot is not cashing the payments. I called LoanDepo... |
LoanDepot Mortgage loan servicing, payments, escrow account December 4, 2015 - I paid my loan in full in -/-/- with loan depot.I have not recieved my ecrow balance back and I noticed today that they took out for my pmi imsurance when I no longer have a loan with them.. ... |
LoanDepot Mortgage loan servicing, payments, escrow account November 28, 2015 - Loan Servicer has changed address to send payments to without informing me causing payment processing problems, for which servicer is attempting to blame me. Loan servicer has improperly reported me to credit bureaus as late or delinquent when this is not the case. I am presently current in my payments per loan agreement, but Servicer continues to harrass me. ... |
LoanDepot Mortgage loan servicing, payments, escrow account November 7, 2015 - Mortgage service Loan Depot '' has not applied timely partial payments we have made to them under the terms of the loan contract or follow FTC rules concerning how payments are applied. This scam is to delay the payment application to well past the late due date and then charge a $81.00 late fee, which is detailed in the Loan Statement '' under Transaction Activity '' and the activity is outlined in item - on the back of the Loan Statement '' in section Payment Information ''. ... |
LoanDepot Mortgage loan servicing, payments, escrow account October 19, 2015 - I received an offer from LoanDepot ( my mortgagor ) that I could save interest on my loan if I signed up for their budget billing program where they take my -/- my payment twice a month and then twice a year they take an extra payment. This was very misleading because they do n't apply the payment until the - payment is made. They are taking my money and using it for - the month without any benefit to the consumer. I can make a thirteenth payment at will. I am a - and understand what is going on. To the typical borrower that if very misleading and unfair. ... |
LoanDepot Mortgage loan servicing, payments, escrow account October 7, 2015 - We refinanced our mortgage with Loan Depot. At closing they collected - for the -/-/- property taxes. However, this a non-escrow refinance. They claimed that they must collect this outstanding tax to do the closing. Closing on -/-/-. Taxes first due -/-/- and there is no penalty until after -/-/-. I recently call my tax office after I received the tax bill and it was for the full amount. They have no records of having any funds being applied to this account. I called servicing department who referred me to the Loan Depot Escrow Department and they sent me back to the ser... |
LoanDepot Mortgage loan servicing, payments, escrow account September 12, 2015 - I have a - Homestyle Renovation Loan being serviced by imortgage in -, AZ. I had the mortgage company required consultant submit the third and final draw request complete with all of the documentation for the draw on -/-/- and it was received by imortgage according to an agent I spoke to, - -, on -/-/- and he said he would process the checks. This money was to pay the contractors who had finished work on my house two to four weeks before. On -/-/-, I received a call not from imortgage but from an appraiser that originally appraised my house stating that imortgage wan... |
LoanDepot Mortgage loan servicing, payments, escrow account September 9, 2015 - I just received a call today, -, from someone claiming to be from -, when spefically asked if with government -, the gentleman said yes. The agent proceeded to tell me as part of - his job was to let people know they are entitled to savings due to the type of loan that I had.I was told I did n't need to agree to anything at the moment and just to hear the cost savings. The agent proceeded to connect me to a 'Specialist ' while he remained on the line. I heard a recording say Loan Depot before the 'specialist ' got on the line and asked the agent who was Loan Depot as he said - -... |
LoanDepot Mortgage loan servicing, payments, escrow account July 21, 2015 - My husband and I recently refinanced with LoanDepot. I went to set up an account tonight for our mortgage online at their servicing website https : //loandepot.loanadministration.com/ and am not at all confident in their security practices. For example, they do not allow special characters in passwords, which is a standard security practice. Were this for any other financial product, I 'd vote with my feet '' and take my business elsewhere, but I feel stuck with their inadequate web security practices, since they own my loan. ... |
LoanDepot Mortgage loan servicing, payments, escrow account July 8, 2015 - I sold my house in -, IL on -/-/15 and the loan was paid off in full to LoanDepot as of -/-/15. Unfortunately, the payoff letter was requested on -/-/15 ; however, the property tax payment of $4400.00 was taken from my escrow account on -/-/15 ( 4 weeks before due date of -/-/15 ). I contacted Loan Depot to inquire about this on -/-/15 and was informed that the property tax payment was being held - for - weeks by before being paid to the - - Tax Assessor 's office prior to the due date at the end of the month. I requested that this payment b... |
LoanDepot Mortgage loan servicing, payments, escrow account July 2, 2015 - During a kitchen remodel of my home which I purchased in 2000 a slow leak was discovered. The insurance adjuster came and saw the damage and submitted a check for -. The mortgage company said they would apply that to my monthly payment and I was to use my regular monthly payment for materials and to pay the contractor. They did not uphold their end and my mortgage was delinquent. Later m they tried placing me in a loan modification program. It was back and forth with a document missing or lost in a fax stack, so the process had to start again. This continued for - more times, until my ho... |
LoanDepot Mortgage loan servicing, payments, escrow account May 13, 2015 - We refinanced our home ; we paid the principal and interest for -, - and - ; we went into escrow in - so did n't pay the - mortgage payment ( closing escrow today ). The payoff information Loan Depot provided includes interest for -, even though we already paid it. I am trying to get them to see that this is - payment. The representative I talked to said we were paying the principal and interest in arrears, but that is incorrect : we always pay the principal in advance - industry-wide practice. Thus, they did n't bill us for the - principal but just for the - princip... |
LoanDepot Mortgage loan servicing, payments, escrow account April 22, 2015 - My loan servicing was sold to Loan Depot. I have an impound account for my taxes and insurance. There is a balance in that account of $4300.00. I received a supplemental tax bill and followed the instructions on the back of my mortgage statement from Loan Depot and faxed it to the Tax Bill fax number. They did not pay the bill. I received a late notice and faxed the bill a - time. They still did n't pay it. I called today and was told they do n't pay supplemental tax bills and that I would need to fax the bill to yet another person and that they would mail me the money so I can pay the bi... |