LoanDepot Mortgage Complaint

Conventional fixed mortgage Application, originator, mortgage broker

LoanDepot Mortgage department,

Conventional fixed mortgage Application, originator, mortgage broker Virginia

Loan Depot lured me with very good rates, locked me in '' on good refi rates for my home and my rental property and then requested supplemental information repeatedly all under the guise of - and - requirements. I turned all their info requests around within 2 business days. Their last info request questioned my ownership '' of a rental apartment I had rented from -/-/- to -/-/- and my ownership '' of the building that houses my former employer, -! These kinds of questions had gone on for about 3 months and then, when they finally approved both refis, they indicated that the rates had gone up. It was a classic bait and switch. I declined their revised rate offer, but they should not be allowed to do this to others.

LoanDepot customer in Virginia
Aug 14, 2015

* Source: CFPB Complaint Database

LoanDepot response to complaint:
Closed with explanation

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