Loandepot Jennifer Buxton/Stella Pak Complete total ripoff 26642 Foothill Ranch California

On 01/23/2013, I settled on a HARP2 loan with Loandepot being the mortgage company. All went well, except the original percentage was off from the original quote. Still, my payments went down quite a bit. There is also a PMI. They used the old appraisal of $172,000, which was given on a previous refi, due to my wife being seriously injured in a car accident.

Fast forward to 08/27/2014. A Jennifer Buxton, Sr. Mortgage Banker (JBuxton@loandepot.com) emailed me that she could at this point waive the PMI. I thought I had reached that magic number. She took $495.00 from a credit card for the Lock-inagreement and Advanced Fee. I sent everything on the checklist, not being fully aware it was a total refi. (Probably my stupidity). Loandepot sent an appraisor, of course from miles away. He came back with an outrageous number, $150,000.

With this appraisal, I have not even come close to the "magic number". I dispute this guy's number, he does not come from this pretty rural area. "Could not find any "like" homes nearby" was in the report. Of course not, there are no cookie cutter homes for miles.

The next person from Loandepot, a Ms. Stella Pak, Senior Account Manager/senior processor (SPak@loandepot.com), when I talked to her(she was "out sick for a while") didn't know about the bad appraisal, and turned the process back over to Ms. Buxton.

Loandepot owes me a refund of $495.00 because Ms. Buxton knew, or should have known, being a "Senior Mortgage Banker" that I had not reached the right percentage for removal of the PMI in the first place. I believe the whole thing was a SPAM email from the start and that I was played. Diffrent review sites, such as Ripoff Report< have some very very similar stories, with even the same exact numbers. Coincedence, NOT.

Don't anyone ever deal with Loandepot.

MINUS 5 stars