Loan Depot

After getting a refi from them went and checked my credit score and found they had run FOUR friggin hard credit checks on me in less than a two week period. Two of the hard credit checks were one following the other the very next day. Everyone knows that hard credit checks have an adverse affect on your credit score; so naturally my credit score dropped almost five points. Lucky for me I was already at 319. Just tell them that they are limited in the number of hard credit checks they can run on you to TWO. If they can’t decide if you are credit worthy by TWO checks, go somewhere else. I spoke with then on the phone and told them to stop sending me BS things in the mail and to take me out of their data base; they said they couldn’t and that I was in their data base for life. Guess I’ll save up the BS they send me and use it to start my fireplace in the winter… Again, look somewhere else for your financial needs, they folks are jerks…

Loan Depot approved my Loan Application after 4 other companies denied it.
The application process was handled in a polite business-​like way. The only complaint I have is that it took longer than expected. The reason for this, i was told, was the unusual high number of applications. My loan officer was very polite and knowledgeable. Overall, it was a pleasant experiance to deal with the Loan Depot.

David from Loan Depot was handling our refinance. He was very professional, very personable, and very helpful. He got us the best rate and discounts out there. Getting documents uploaded was easy and very user friendly. I was able to do a lot of things from my iPhone which made the process very convenient. I would have loved to continue with Loan Depot, however their local appraiser severely under valued my home and I was unable to remove the PMI from my loan, which was the entire purpose of the refinance. I was shopping around and had previously had my house appraised with a different loan company/​appraiser two weeks prior to my appraisal with the company Loan Depot suggested. They valued my home at 510,000 where Loan Depot’s selected appraiser (3^rd party of course) valued my home at 460,000. I understand appraisals are subject to the appraiser, but $ 50,000 difference is pretty outrageous. I would recommend Loan Depot if you are looking for the best deal and a super easy online docu-​sign process. I imagine the local appraiser we got was probably a one off. Unfortunate for me and for Loan Depot, because they totally scr*wed us out of a good deal/​business.
Loan Depot, if you are reading this I would highly suggest not using that company for any future appraisals.
Feel free to message me for the name of the appraisal company to use and not to use. I cannot include the names or Unilocal will delete my review.

If your looking for a place to do a refi on your home steer clear of Loan Depo this place for a first timer like me was the worst place I’ve ever thought I would deal with I started my loan with them in August of 2015 and paid upfront fees for a appraisal and these people stung me around for months. They keep asking me for documents and more documents I gave them everything and still it wasn’t enough these people aren’t in the business of making mortgage loans there in the business of making your life miserable all in all the point being don’t waste your time with this company I wasted six months of my life and had my homeowners insurance cancel because of them and also got backed up on other bills because they keep stalling and not communicating I called them almost daily because I was already in to deep and really needed the cash out so I could get my house fixed in some areas before El Nino came they just didn’t want to get the loan done don’t waste your time or money on these people and faxed them every document know to man and they still weren’t satisfied please do your research first I’m sorry I didn’t do my research before I got involved with him but anybody who wants to get a loan done please go somewhere else. They shouldn’t be in business

Incompetent, dishonest, company. I’ve had 9 mtg’s. Know the drill. Credit score 811, excellent LTV, debt to income, income history etc. Finally got results when I asked if they were resisting approving my loans (after 5 months) because I am a 60 year old, self employed female with a Hispanic last name. They lie.

I spoke with loandepot thought they were understanding of my situation. Paid for appraisal 56% equity credit score 799 income more than enough for a refi.
They had the appraisal 3 weeks. I emailed n said my rate lock is due to expire, when are we closing. I was emailed by casey n told my emails are SLOWING him down and are a waste of both of our time! Then explained the rate lock extension wont cost me anything cus they would use my $ 900.00 credit! Well that is charging me n the current rates were LOWER than my original lock in. He went on to say do i need to explain to again the difference between a mortgage lender and direct lender?!
Im not not stupid… So after wasting over 6 weeks n being blamed for their of lack of timeliness i am going with a local lender!
Loandepot over promises and under delivers. They also are rude n disrespectful if questioned! Im lucky they only got the cost of appraisal from me! Couldv cost me so much more!!!

LoanDepot says that they have an offer match program that will beat any Good Faith Estimates I sent them. They did not even come close of beating other offers. Their associate also tried to twist words to make their Good Faith Estimate sound better than others. They also refused to admit the mistakes when I caught them. I am so glad that the government regulates the market by requiring comparable format of the Good Faith Estimates, which show hard numbers that makes lying much harder to pass. I will not recommend loanDepot.

I am having the WORST experience with this company. They can’t explain where my escrow funds went after they refinanced my loan.
I had a loan with them and then they refinanced my loan… but now they can’t seem to locate my loan number properly or accept my payments like before.
They promised it would be fixed «next month»…I should have known better.

why can’t i do 0 stars? Absolutely the most incompetent, worst loan servicing I’ve ever seen. Separately, absolutely, the most incompetent, worst customer service I’ve ever seen. Did my refi through a mortgage broker, so didn’t think who would end up servicing. Loandepot sends my FIRST bill out on March 15 saying my first payment is due Mar 1. I am apparently already late… I call them, they tell me no problem, they know mine was mailed late, no late charge is due. they say they update my file to show this. At this point I am thinking, a mixup occurred, they have great customer service though. Then they keep calling me daily, when I finally pick up the phone a few days later, they say my loan is late. They have no record of my call the other day, no notes in my account. I explain again. I ask for a supervisor because I am not confident they will notate my acct correctly. They don’t apologize whatsoever, not their fault, different state, etc. A few days later I get a note in the mail, my loan is going to collections! I call up, they have no record of my loan going to collections, my first payment is only due in April (not march apparently like my first note said). They ask if I want to be transferred to collections to discuss. I say «why, I am not in collections, right?» I tell the person how dissatisfied i am. no apology. also… every time I’ve called, I also get, at least one person to pick up and tell me wrong dept, wrong state, and transfer me around at least once if not 2 or 3 times. Worst customer service, most incompetent loan servicing I have ever seen. I can’t wait for them to go under and/​or sell their portfolio to another loan servicer.

As with other posters, I would give 0 stars if I could. I would suggest your own bank or credit union before dealing with Loan Depot. I am still working on climbing the management chain to get a refund for my initial payment, as I have no desire to let these people have one cent of my money. Here are the issues I ran into:
Somehow, my appraisal came in $ 30k less than what it should have. I have a friend in real estate and she was able to get comps that sold more recently and closer to my house that were more on target with my homes current value. They say the use an impartial service to get their appraisals. This is where all the hell began
In speaking to their phone associate (the second one assigned to me in two weeks), I was told there was a dispute process, I just had to come up with evidence to support my argument that the appraisal was too low and that, if I filled that out, they would have a decision on whether or not that appraisal was correct withing 2 days.
2 Days later, I emailed and the same agent then told me it was 5 – 7 days to hear back on the dispute process. I was frustrated at this point, but I decided to wait 7 business days.
I heard from no one, so on the 7^th business day, I decided to email the person I had been working with, only to be told this time, it would take up to 2 weeks. Somehow I had gone from waiting 2 days to waiting 2 weeks!
At this point, I said I was tired of waiting and would like to look into just refunding the money that had been given to the appraiser and we could all just walk away from this and call it good. Apparently, the appraisal fee is non-​refundable, even when the job is done poorly
I let them continue to wait for the appraiser and they finally came back and said they couldnt get a hold of him so all they could do was go with the low price offer. At this point, I again requested that we just do a refund. It is not my fault that the person they hired is unreliable.
Rather than listen and apologize for the delays (not a single apology), they proceeded to tell me how much it was costing THEM to wait on this information and how THEY were out thousands of dollars.
I have been requesting a refund for over 2 weeks now and no one is willing to just admit fault. I am not sure why they cant refudn my money and then, in turn, go to the appraisal company and ask for a refund from them. Long story short, they have poor communication, they dont stand behind their work, they are completely unreliable, and the customer service is awful. I would recommend going ANYWHERE else before going to Loan Depot

Along with other reviewers, if I could give zero stars, I would. I answered an ad on Facebook. They were the first to respond by phone (should have been a red flag), gave them general data but they would not disclose terms after requesting repeatedly. They are hard sell, desperate to a point of being harassing with additional calls and offering a discount through a manager? If your not up front with consumers your not going to open and upfront through the process or approval. Stay away from them

In my opinion this company is a scam. They begin the process by promising everything, then after you have spent time and money they find some unforeseen reason that they cannot complete the loan (matbe because they are non commission agents). We were able to secure a loan with Union Bank in half the time that we spent with Loan Depot. Save yourself the effort and avoid this company.

I dealt with a Georgia rep/​loan officer named Tim Dibona and he was HORRIBLE! He was pushy and rambled on and on and on because I didn’t want to pay a $ 495 fee to «lock-​in» the quoted rate. Since I couldn’t get a word in, I eventually had to hang up on him. He called me right back with the same nonsense. I then told him that I prefer not to do business with his company since they refuse to show their customers respect. He keeps calling to harrass me and left me a very angry message. That’s not professional, that’s desperate & hostile.

i wanted to refinanced my house, somehow ended up getting a phone call from a guy named Chris, he gave me the car salesmen speech, so I had him check my credit (750s) gave me the” i must commit with some money to lock my rate in”, so i did .
I made it clear to him that I work offshore on an oil platform and that I may have communication problems, he said «no problem » ., so I was told by christ that I had Brandon taking care of my loan, and he was one of the best, he told me I was lucky, lollololo.
I go back and forth sending emails and paperwork and this and that, after 3 months I send emails to christ and brandon with??? whats going on ??? .I was reassured that everything was ok .And in a few weeks ill have my refinanced and everything ok .
6 weeks pass and I send another email, when is this going to be finalized? They blame something on someone and tell me in a few weeks I will close.
Finally they said everything is ready to go, and I happen to be home. I was happy it was going to be over. I send email to brandon telling him I was ready, I get no reply till the following afternoon and tells me it has to go to a lawyer and Texas is complicated. im thinking we are almost done? I didn’t realized I was about to be taken for a fool .
I get a phone call from brandon telling me, a day after he was going to send it to lawyers to finalize the loan, that I TOOK TO LONG AND THAT I HAD TO START THE PROCESS ALLOVER AGAIN, so I never got a warning and a we need to finish this by this day deadline or anything, UNPROFESSIONAL, MISLEADING, AND BEHAVIOR THAT I BELIEVE TO BE CRIMINAL .
I ask what my next step is to brandon, he said I HAVE TO PAY ANOTHER FEE AND START ALLOVER. Im by no means rich, thus explains my refinancing, they took advantage, they took my money and then when I asked to talk to a management they refused to connect me to one. LONEDEPOT HAS TO BE THE MOST UNPROFESSIONAL BANKING ENTITY I HAVE EVER DEALT WITH, I FEEL I WAS ROBED AND THEN LAUGHED AT .
This was a horrific experience.
thank you, and good luck
I called the B.B.B.