LoanDepot Mortgage Complaint

LoanDepot Mortgage department,

Conventional adjustable mortgage (ARM) Application, originator, mortgage broker California

On Wednesday - the - I went on Loan Depot 's web site and inquired by inputting my Name and phone #, after I hit submit I get a call in - seconds asking me, how they could be of help. I was very impressed by their quick response. I spoke to a gentleman briefly, and he transfereed me to a loan officer right away, saying he is the man I need to talk to. - - came on the phone and asked me, how he could be of help. I told him I 'm in the process of purchasing a - in - -, Ca. My offer - - was just accepted and that I was shopping for the best interest rates. He said he would be happy to help, and told me what his Company could offer me. After twenty minutes of conversation I had made my mind to go with Loan Depot for my loan. He said he could do this entire process over the phone, I agreed and I provided all the information he requested. I had asked him if that 's the best pricing he could do. And he said everything I tell you is


the requested document, since my interest rate was locked. On Thursday the - of - I informed - that - - - had given me a better interest rate of - on the same product he was selling me, and he told me to email him the - estimate, he called me back and said they will match it, I told he would also have honor the $500.00 credit since I had received a better deal with - he said that should not be a problem, he would talk to his supervisor. He called me - minutes later and said it 's done, now my origination fee would be $390.00 instead of $890.00 I told him to move forward, and to send me a revised quote. Later that afternoon - - - - - called me and said that they are not able to give me the $500.00 credit. I told him - had promised me the Credit, and the conversation was recorded, he said will should have not told you that, until he had received an approval. I was frustrated and told him how could Loan Depot change their minds, that 's not professional. I had emiled you all my personnel information - credit repot, bank statement, pay stubs, and many other documents ) He started to apologize I told him it was false advertising, but he really did not seem to care. Now my Credit score has dropped from - to - due to excessive inquires and burrowing my coast me more money, with another Lender