LoanDepot Mortgage Complaint

Home equity loan or line of credit Credit decision / Underwriting

LoanDepot Mortgage department,

Home equity loan or line of credit Credit decision / Underwriting Maryland

I called loan Depot.com, - for an check of their rates on a home equity loan. I was transferred to - - - who proceeded to give me a high pressure sales tactic for a 30 year mortgage loan of $100000.00, which I did not want. I did not accept this offer, and only told him I would think about it. I had subsequently decided to accept a more conventional HELOC with another lender. Loan Depot.com called my house numerous times, and today a fully filled-out loan application ( minus my signature ) arrived in the mail. I feel this is completely out of bounds and I am very upset about this. A lesser informed consumer might feel obligated to accept this offer, which obligates them for 30 years. I would like the CFPB to issue a warning to loan - and - - stating that this tactic is unethical. I 'm not sure if this is illegal, but if it is please take appropriate action.

LoanDepot customer in Maryland
Feb 15, 2017

* Source: CFPB Complaint Database

LoanDepot response to complaint:
Closed with explanation

Created with Highcharts 4.2.3LoanDepotComplaint HistoryComplaints2/20137/20133/20146/20147/20148/201411/20142/20153/20154/20155/20156/20157/20159/201511/20157/201611/20161/20172/20173/201701234Source: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3LoanDepotCredit decision / Underwriting100.0%Closed with explanationSource: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3National AverageCredit decision / Underwriting0.6%6.3%5.8%1.2%2.2%5.6%77.1%1.3%Untimely responseClosed with non-monetary reliefClosed without reliefClosed with reliefClosedClosed with monetary reliefClosed with explanationIn progressSource: Consumer Financial Protection Bureau

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