loanDepot Mortgage Refinance Review
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56 Customer Comments & Reviews - see all comments
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Founded in 2010, loanDepot is a national consumer lender and financial services company with headquarters in Southern California. The company matches borrowers and lenders through their online marketplace, helping customers find competitive mortgage rates and loans with ease. loanDepot currently operates in over 180 locations across the nation and is affiliated with over 1,700 licensed professionals.
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56 Customer Comments & Reviews
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Have used Loan depot 3times and all have been quick, on point with zero issues..
I'm not one to leave reviews as I feel they can do irreprible damage to a business that may already be struggling but in this case I felt compelled to ensure that others are aware of what they are getting into with loan depot. First off, whether or not loan depot is going out of business that is no reason to set people up for utter failure. If you have ANY issues on your credit report, stear clear of loan depot. I met with them at a starbucks for "credit counsil" as they call it. I was given a six month plan on how exactly to improve my credit and get approved with them. At the end of that six months after my wife and I spent a lot of money following their plan to a T, we were given the... Read More
God awful company. Pray they dont sell your mortgage and dont tell you. Pray the dont approve your loan they day of closing. Pray you dont work with them. Run
My credit score is 792, the middle score of the three credit report companies. If you end up working with a loan officer, Rodwell Pascascio (loan originator), be aware. He doesn't read emails you send. He picks up the phone first without reading your emails and reads the emails while putting you on hold. He kept saying that closing in the targeted month was very possible even when the closing was delayed because it took time for them to get the employment verification letter from my employer. He does not update you unless you ask for an update. A day before the targeted closing date, they still didn't get the letter from my employer, I had been very irritated by his way of saying and... Read More
I was instructed by our loan processor to contact him if the VA appraiser did not call within 5 days to schedule an appointment. Surprisingly, the VA never called at all. We phoned and e-mailed Loan Depot that no appointment had been made. Over the next 3 days, a series of severe midwestern storms caused roof damage and we contacted Loan Depot. They agreed that we would not be approved for extensive repairs. They did not say anything about returning our appraisal fee. After 3 days, I e-mailed our loan processor about our Discover deposit, and 2 days later have received no response. Is this typical service?
This is the worst mortgage company I have ever dealt with. Apparently someone messed up on our closing documents and our home insurance was only valid for 6 months and we were unaware. Our insurance expired in October 2018 and we were NEVER notified. Loan Depot then took the liberty to put our house in foreclosure, again without ANY written notice.. no certified letter or anything. Once we found out (through a friend browsing the internet) that our house was in foreclosure we called in a panic to Loan Depot. They told us what happened and transferred us to the insurance company and everything was fixed and good to go according to Loan Depot. A few weeks later I check online to confirm the... Read More
On April 1st I was offered a 3.625% interest rate with an APR of 3.704% on a conventional 20yr fixed with Lender Paid Mortgage insurance. It had no discount points applied to get to that rate. The Loan Officer had at this point gotten my Name, SS#, Address, expected mortgage, Home value, Credit score, and income. All the things you need for a true application. We locked that rate in on that day and I decided to proceed. This was a match or beat offer that got me to leave the company that currently was offering 3.99% interest rate with 1% discount point, APR was over 4%. I thought this was a great deal. After the appraisal was completed and the initial underwriter review, it was... Read More
I started this refinance loan on March 29th ,19. Mind you they called me , I hadn't been looking to refinance because of credit score. It is now May 6th,19 , this was to close April 15th ,19 . Was told everything was good to go , then there was oh we need this,then that and now maybe another 15 days for va and whatever else they dig up. I'm in need of the money now and they were in such a hurry for me to get the 495$ appraisal to them but don't seem to care if I could have afford it. That has put me in a pinch now because I was expecting to close over 3wks ago!!! Robert Reed, Richland ,Mo. Not happy.....(wife ) Julie
This was the worst experience ever! Started the process in July 2018 and in October 2018 is when they declined my application AFTER providing a closing date estimate. Now, I am trying to get my appraisal fee refunded back to me. I provided them with a communication that came directly from them that indicated if I withdrew my application or my application was declined, I am entitled to receive my appraisal fee refund.
Great idea to advise veterans to refinance onto a adjustable rate mortgage when they are on a 30 year fixed rate at 3.635%. You should be ashamed of yourselves for trying to mislead Veterans into loan programs that are only beneficial for your company to make money and in the end hurt our service members.