LoanDepot Mortgage Complaint

Conventional fixed mortgage Credit decision / Underwriting

LoanDepot Mortgage department,

Conventional fixed mortgage Credit decision / Underwriting California

My husband and I applied for a refinance loan from Loan Depot about - -, 2014. We filled out the required information with - of their agents, do not remember his name, maybe -. Subsequent to providing all relevant information we were informed we qualified for a refinance through the VA since my husband is a veteran. Our current mortgage interest rate is 9 % and the VA interest rate was much lower. We were at the point where an inspection was scheduled. We were asked to provide the cost of the inspection, which we did. At this time we were suddenly advised by the agent our VA loan was unavailable due to the fact the VA DID NOT LOAN for homes on leased property. We do not own the property. Instead of checking with the VA to verify this we accepted this disappointing decision. Recently we received information from a VA Mortgage Center regarding VA Loans. When I requested the regulations for a refinance I was informed the VA DID, indeed, loan on manufactured homes on leased property. Therefore, Loan Depot agents lied to us rather than fulfill the loan. We are both retired, - who know they were blatantly deceitful. ( Their reference # is : - -/-/2014 )

LoanDepot customer in California
Jun 25, 2015

* Source: CFPB Complaint Database

LoanDepot response to complaint:
Closed with explanation

Consumer disputes how LoanDepot handled their complaint

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