LoanDepot Mortgage Complaint

Conventional fixed mortgage Loan servicing, payments, escrow account

LoanDepot Mortgage department,

Conventional fixed mortgage Loan servicing, payments, escrow account Florida

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 customer in Florida
Oct 19, 2015

* Source: CFPB Complaint Database

LoanDepot response to complaint:
Closed with explanation

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