Report: #895190

Complaint Review: LoanDepot

  • Submitted: Sat, June 09, 2012
  • Updated: Sat, June 09, 2012
  • Reported By: djh — Charlotte North Carolina United States of America
  • LoanDepot
    26642 Towne Centre Drive
    FOOTHILL RANCH, California
    United States of America

LoanDepot Poor customer service after sale and initial rate quote is ripoff FOOTHILL RANCH, California

Show customers why they should trust your business over your competitors...

After loan application and deposit of $495.00 are completed, customer service is poor. Do not return phone calls. Over a week delay in answering emails. Do not acknowledge faxes. Request additional documents at the last minute and no customer support for clarification. Over 10 phone calls in 10 days without a return call. Delayed loan approval until lock down rate had expired. Initial good faith quote was 2.875% with $4,500 in closing cost. Final rate was 4.0% with over $8,000 in closing cost. My wife and myself credit ratings were all over 750 and income greater than $150,000 per year. Home loan was for $315,000 with appriased value of $425,000. Provided over 160 pages of documentation. Provided all additional requested documents. There was no logical reason for LoanDepot to default on my initial good faith estimate. Maybe raising quote rate by 0.025% or less but not by 1.2% and more than doubling my closing cost. Beware of great good faith quotes. Maybe too good to be true.
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This report was posted on Ripoff Report on 06/09/2012 11:57 AM and is a permanent record located here: 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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