LoanDepot Mortgage Complaint

LoanDepot Mortgage department,

FHA mortgage Loan servicing, payments, escrow account Texas

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 be stopped by LoanDepot and - due to the fact that it was already paid by the buyer, however, I was told by the LoanDepot CSR - customer service representative ) that they were unable to do this and I would have to wait for the payment to be paid by -, then refunded by - - to -, then refunded to me from Loan Depot. I was told that this process - take up to - weeks due to the time it may take for - - to send back refund.


tax payment of $4400.00 and verified that they had mailed the refund back to -LoanDepot on -/-/15. During the week of -/-/15, I contacted LoanDepot customer service to verify receipt and request a date in which they would send me my refund of $4400.00. I was told by multiple customer service representatives at LoanDepot that once the check was received by -, it would be processed immediately and LoanDepot would send a check out within 7-10 business days from the date of receipt. On my follow up calls to LoanDepot during the week of -/-/15, I was told that they had received the refund from - - as of -/-/15 and I should be receiving my refund check within - business days from that date, which would be between - and -. On the afternoon of -/-/15, after I had n't received the refund in my mail, I contacted Loan Depot and was told by the CSR that the notes on the account from - stated that my refund check was being sent via overnight delivery, however, tracking information would take - hours to show up in the account. On the afternoon of -/-/15, after I still had not received my refund check in my mail, I contacted LoanDepot again, and was told again that that my refund check was being sent via overnight delivery ( as of -/-/15 ), however, tracking information was still not notated on the account. She then stated that I should definitely be receiving the check by -/-/15. On -/-/15, I contacted LoanDepot again after I still had not received my refund with the day 's incoming mail. I was told that they would escalate to the tax department to obtain status and tracking number. On -/-/15, I contacted LoanDepot again and spoke to a CSR Supervisor named - -. - was very helpful by taking full ownership to determine accurate status of my refund. He called me back later in the afternoon and told me that the tax department is now stating that they estimate I will receive the check on -/-/15. I believe that this is an unreasonable timeframe to hold onto $4400.00 of a customer 's money. It has been - days - -- weeks ) since the money was taken from my escrow account by Loan Depot - and on - it will be - days. Being that LoanDepot received the refund on -/-/15, it is unreasonable for LoanDepot to hold onto my money for - weeks since they received it back -.