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22 Customer Reviews - see all comments
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loanDepot is an independently-owned national consumer lender offering home purchase and refinance loans as well as personal and home equity solutions. The company, which has developed its own technology infrastructure to differentiate itself from similar competitors, has funded over $125 billion in home, personal, and home equity loans since their inception in 2010.
LoanDepot
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Latest loanDepot Reviews
My credit score took a big hit recently because I bought a house and my student loans reflected on my credit score at the same time. I was stuck at 550 for months before i got a massive intervention from creditmason.net. They removed all items affecting my credit and my score went over 750.
Quoted very high closing costs so passed. Then they call back with a "better rate" yet could never get to the point where they actually told me the costs. These guys seem more like salesman than loan officers.
I would like to make known my great disappointment with LoanDepot. My wife and I had some financial problems. So we spoke to your staff at the end of last year. They recommended a forbearance. Around February we discussed our continuing problems with your staff. A recommendation was to refinance to absorb any outstanding debt. We were told to make normal payments until the process was completed. We started the process in March. We explained our situation over and over. Went through three loan processors and different levels of supervision. If I could speak with someone by chance or even IF I could get someone to call me back was very difficult. Even when voice said they would call back... Read More
I don't see how Loan depot is still in business with all the reviews being negative.
I am also one that fell in the $500.00 appraisal trap and their appraisal company didn't use current comps and used manufactured homes as a comparative with a single family built ranch.
Horrible company with horrible service.
I assign a 1star only because you do not offer a minus 20. Worst company I have worked with on any transaction in my 73 years on this planet. Customer service once the application was made was intolerable. Took FORE EVER because they took on more work than they could possibly handle. I would NEVER recommend them to anyone!
It started with a lot of promises. We dumped our other potential lenders because of their promises. AFTER 4 months of almost hearing nothing (there was just 3 or 4 updated emails regarding the status of our loan application – it was approved etc – both of us we have PERFECT 850 credits score by the way) they sent us email that ‘they are sorry that we withdraw our loan application’. WHAT???........ We emailed them back with CC-ing everyone from the company that we were in contact with including supposed to be their manager. Similar email about the loan application withdrawal that we did not send was received by the next day. They charged our CC for the credit check and loan... Read More
If there was a -5 stars I would have checked it. Our experience with Loan Depot was horrific to say the least and I would highly recommend staying away from them, nothing but lies and deception. It started out great with promises and commitments that they would always be there for us and the big one was, they don't sell their loans and I don't know how many times our loan officer pointed that out to us. We were building our dream home with an 800+ credit score with 2 other lenders competing to get our business. We picked Loan Depot for three reasons. One; the commitment they supposedly had for us, as mentioned above, two; the option to do a recap, and three; they don't sell the loan, we... Read More
they said they offer a lifetime guarantee that will waive their lender fees and reimburse you for your appraisal. But they never call you back. there rate are good but if you plane or think about useing this lifetime guarantee than it is a joke. Don't count on them standing behind there word.
I decided to get quotes to refinance my property. Their website prompted me to enter my property info etc and then pulled my credit. Upon completion, I got an email saying that someone would be reaching out. The next day, I received a call and the agent inquired about the number of floors in my condo's building. When I told the agent it was a high-rise, I was informed that Loan Depot does not provide refinancing services for high-rise buildings. They made me provide my personal info, pulled my credit report to only decline my application due to the building’s height, even though I had answered a question about the # of floors in the building during the initial phase of the online... Read More
Applied for refi two months ago still havent closed, poor customer service. About to give up on them.
Went to refinance due to lower interest rates. Contact loandepot and the initial sales personnel Anna Cano was satisfactory. But when I was just transferred to the loan officer-Rick Perez - it was extremely disappointing. I worked with him for months and I never seen or experienced a person who would tell me one thing and it wasn't true often. For example he would not meet previous agreed upon obligations. He would not fulfill fiduciary duties. He would mislead and Stonewall. I had to talk to his boss in order to attempt to get results. The only thing that this change is for him to actually start return my phone calls. But the quality of care, customer service and explanation of... Read More
I was approached by Loan Depot and given excellent application service.Then the dropped balls started. No one called me for weeks, I inquired what was up and got no response then I emailed my loan sales person who sent it along and a lady called to say nothing had happened on it, I followed up a few more weeks later and still nothing then a few weeks more and they wouldn't return any calls or emails. The person who sold me the property was then called and he was told he had to go to do a bunch of added documentation and notary work ( which he wanted me to pay him for direct) After this it went on for about 1 1/2 months so I started calling every day to find out what happened? Finally... Read More
I’m very disappointed in loan depot had refinanced with them before was very good , however this time it was horrible paid 21 dollars for them to run credit report then without my permission they took out appraisal fee out of same account on a Friday and sent me a text at 8 pm they did it. I had told them on phone do not take appraisal out of that account was told computer automatically used that account because it was on file and didn’t call me to tell me that they where doing it. Called for 4 days to agent talked to his boss said he would have him call me . No mortgage company asked me to pay for credit score think they just wanted my account number. 495 dollar appraisal fee cost me 700... Read More
Wanted to refi an existing second home. Agent insisted on refi of primary home instead at a higher rate than currently have. Wasted my time and NEVER returned phone calls. Went elsewhere and got better service but rate was also .25% higher due to time wasted with LoanDepot.
So I am writing because I originally decided to go with loandepot because of their amazingly good job at relating and the ability to offer a crazy lower rate. Over the course of the loan process costs started to rise with things I was informed would be covered by them and not on the original. I was informed they would cover point costs but it ended up on the very last disclosure document made 5 minutes after the last one without it. Everything was always urgent and a rush and in 2 days they literally filled up my voicemail with constant calls. When I compared documents and brought it up, the answer was "Nothing has changed, but we need to hurry up and complete this before the rate lock... Read More
Made the mistake of attempting a refi - started out everything was great - then dead silence. Problem is, I paid for an appraisal, my insurance company has already changed my insurance to coincide with an impound account (current mortgage does not have one) and I've wasted a month. My appraisal should still be good but that's "iffy" depending on who I deal with. I can't keep having people check my credit because evidently that system is designed to discourage shopping but I'm beginning a new search tomorrow. I've always gone with my gut and never been sorry and it has been screaming at me to run ...
Surprised to see others had the same issues as us. Excellent credit scores, own a few properties incl. commercial and nothing but constant documentation requests every few weeks for 4 MONTHS!!! We started out with a mortgage and after almost losing the deal on the house we borrowed from friends and closed with cash. Then we switched to a cash-out and 3 months of further documents and NOTHING!!! I complained to the complaint dept. and still no loan. Gigantic waste of time. Run screaming!!!
Going on my fourth month 3rd loan application and no cumuncation what so ever.....What a waste of time and money (appraisal fee $425.00) . I wanted to give them no star rating. Going to a real Bank tomorrow. ...will also be reporting to BBB.....
We were refinancing our home a little over a year ago. We heve excelent credit @ 780 & 825 Nothing but horrible service, expired rates etc. 6 months of nothing but extreme rudeness and lies! They also stole my $600.00 from the non-returned appraisal fee! We had our credit union do the refinance in 18 days. Worst Experience Ever! Avoid Loan Depot!
DIANE &MO B
I had a terrible experience with one of the representatives. He was rude, pressuring, and very disrespectful when I asked to call him back at a more convenient time. I was very concerned after this interaction that my identity information was at risk. I have verified that he does in fact work for Loan Depot I am attempting to report this to his supervisor. I will file a complaint with the BBB if I am not satisfied with this supervisors response.
Very slow process and poor communication.
What started out as a promising relationship turned bad quickly. I was wanting to refinance my existing 1st and HELOC and my initial agent walked me through a process that would allow us to do it at minimal out of pocket costs. It turned out, what she was doing was illegal and the result was my loan was not only prolonged but I took out a personal loan with them to payoff my HELOC at a high interest rate (I wasn't supposed to have it long enough to even make a payment). Two+ months in, and I have not heard anything back on the refi on our first mortage. My wife and I make great money, have credit scores over 780 and low debt to income ratio. Not only have I not heard anything back,... Read More