ED Magedson – Founder
Loandepot.com3355 Michelson Drive, Suite 300 Irvine, CA 92612 Irvine, California United States of America
On Friday Nov. 19th 2010 My wife and I decided to refinance our house. We used Loandepot. A guy named Jonathan secured the deal for us and was suddenly not working there any longer according to On Kim-Paris ( (949)757-3451 tel (949)757-3451 fax OKimParis@loandepot.com) who took over our case. She told us we needed to get our house appraised in order to get a refinance going. We went ahead and got the appraisal. On 11/12/2010 We were charged $495.00 for an appraisal and were locked in on an interest rate that we found to be good. After a month and several phone calls were told that the loan cannot be honored because the house is just not worth what it was appraised for We requested a refund for the appraisal, and Ms Paris told us that she will have to get back to us on that. She mentioned having to talk to her supervisor on it and that she would have an answer in 48 hours. No response. In the end of the day we're short $495 and with nothing. Later I learned that the owner of Loan Depot William J. Camuti was sentenced to 116 month term of incarceration on fraud charges. He ended up having to pay $2,528,000 in restitution. Why is this company still in business ripping people off?!!
This report was posted on Ripoff Report on 12/13/2010 02:39 PM and is a permanent record located here: http://www.ripoffreport.com/r/Loandepotcom/Irvine-California-92612/Loandepotcom-Loan-Depot-Mortgage-Scam-Fraud-Irvine-California-671077. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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