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Report: #1338539

Complaint Review: Loandepot - Foothill Ranch California

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  • Reported By: Denis — Mckinleyville California USA
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  • Loandepot 26642 Towne Centre Dr Foothill Ranch, California USA

Loandepot bait and switch Foothill Ranch California

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I applied for this loan online, things went smoothly at first. I responded promptly to document requests(within one day). I should note my income was well over the requirements. My credit score is over 400.

everything was ok until it went to underwriting. Everything was fine with my home documentation, my appraisel was well over what was needed (65% LTV) until it went to Underwriting. They kept asking for documentation on insurance info on some rental properties I own. The rental income was verified and no problem, they drug out the insurance debate, even though I provided the documentation they wanted within one day.

So yesterday I get an email wanting an additional $7,300 in fees to keep my rate lock. (because they dropped the ball). I told them no way was that going to happen, they said no problem we'll just add it to the loan balance. Yeah right, I pay $7k for your incompentence.  Told them to throw it in the garbage.

 

This report was posted on Ripoff Report on 11/16/2016 09:01 PM and is a permanent record located here: https://www.ripoffreport.com/reports/loandepot/foothill-ranch-california-92610/loandepot-bait-and-switch-foothill-ranch-california-1338539. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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