LoanDepot Mortgage Complaint

LoanDepot Mortgage department,

Conventional fixed mortgage Application, originator, mortgage broker California

I contacted LoanDepot in - of this year to refinance a rental property that I own in Florida and began working with - -. A couple of weeks into the process, - - left and my loan was transferred to - - - this is where the problem began. - - quoted me a 15-year loan at 2.875 % for $100000.00 ( rolling in the closing costs and buying of points ) after I bought points from 3.25 %. The cost would be around $1500.00. - and LoanDepot did not execute my loan in a timely manner - despite my constant emails asking for the status and info they needed. Eventually, in - the loan paperwork was completed and we went to sign, but the interest rate was now 3.25 % with no points being bought down. I refused to sign the loan.


was compensated. The loan paperwork came again - exactly as the first one with no $200.00 compensation. I refused again. I began asking friends about the loan. Each made the point that LoanDepot could honor the 2.875 % rate but are refusing. At this point, due to LoanDepot 's and - ' incompetence, I am not refinancing my property but I am out the appraisal fee of $300.00. An appraisal fee that would not have paid if LoanDepot was going to switch the interest rate on my last minute. ( Not to mention that $35.00 late fee to the mortgage company ). In summary, this company has wasted my time, lost me money in additional months of a higher interest rate by not refinancing ( or refinancing in a timely manner ), a late fee, and an appraisal that I did n't need. I am seeking restitution in money lost or them honoring the original interest rate they quoted me.