Complaints

This profile includes complaints for LoanDepot's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  LoanDepot

  6561 Irvine Center Dr Irvine, CA 92618-2118

  
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  LoanDepot

  14000 N Pima Rd Ste 150 Scottsdale, AZ 85260-3972

  
• 

  Loan Depot

  1201 Brampton Ave Statesboro, GA 30458-0850

• 

  LoanDepot

  12526 S Mainstreet Ste 1725 Rancho Cucamonga, CA 91739-8881

  
• 

  LoanDepot

  4800 N Scottsdale Rd #1000 Scottsdale, AZ 85251-7633

  

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:03/29/2023

  Type:Service or Repair Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  My home loan was recently transferred to the “Texas Portal” and I have been unable to log into my account - which has a new loan number as compared to my original home loan number with Loandepot (LD). I have called customer service on at least three occasions stating my problem and the problem has not been resolved. My time is valuable and more importantly, I need to update my payment bank - which LD has on automatic withdrawal on their end, through their website that I was able to set up on the original loan. I will run out of money from that bank and need to switch banks on the LD website (Texas Portal) and I am unable to do so. This whole experience with LD has been awful and it almost feels as if they WANT someone to default on a loan vs. paying for their loan. I need to access my account ASAP to update my banking information so I do not default due to having no money in the bank I selected when I first secured the original loan. ThevLD customer service reps I spoke with were helpful but they could NOT resolve the problem and they forwarded my stated issues to their IT people and no one has responded to me or rectified the issue. I have tried to log into my “Texas Portal” at least five times and have had no success. I look forward to a resolution to this predicament - thank you.

  

  Business Response

  Date: 04/07/2023

  Hello, 

  Response is attached. 

  Thank you, 

  Customer Answer

  Date: 04/07/2023

  Customer service reps called me back about 4 times - i spoke with two of them and all they did was try and have me walk through the website's instructions regarding logging into the "Texas portal" - A **********" called me on April 4 after I had no success in trying what the other service reps asked me to try. She left me a voice message and a number for me to call her back. I tried calling her and received her VM box and i left two messages. I have not heard back from ********** but it is a holiday weekend, and she may be unavailable. It should be noted that I was told to use a computer or laptop to try and access the account from a different service rep. I have tried that several times and met with the same results - a never ending circle of being put on a cycle leading me to the same steps i have completed about 12-15 times. 

   

  It seems service reps are just "walking me through" the website steps, but the issue is seemingly on their end and not mine. I have told them to even reset my account so i can just log in the Texas portal like i am a first-time customer. No one from IT has contacted me and no one has solved the problem. Sure, LoanDepot called me, but that was only in response to the BBB complaint. The problem has not been rectified and i am still unable to access my account - i can only access the old account number and they even have old phone numbers on that account that are no longer valid. I can't even change that, let alone add my new Texas loan number that i have been to told to manually add. Their system does not work, or at least it hasn't for me. 

   

  Further, is should be noted in fairness to LD and BBB - I am not able to see any responses or attachments included in your correspondence to me. The bottom-line is this - the problem has not been solved, but i am still waiting to see if ********* is going to call me back. 

  

  Business Response

  Date: 04/20/2023

  Hello, 

  Response attached

  Thank you, 

   

  Customer Answer

  Date: 04/21/2023

  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution would be satisfactory to me.  The business was very communicative during this process and resolved the IT issue on their end that allowed me to now access my account via the website. 
  
  Regards,
  ******* *********
  
   
  

• Initial Complaint

  Date:03/28/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Loan # ********* We refinanced our mortgage. The original mortgage and the refinance were through the same company, Loan Depot. When we refinanced they asked if we would like a check for the escrow or for them to pay off everything. We asked them to pay off everything. We were notified in January that the insurance was never paid. They said they assumed the old mortgage company had paid it off - however, there was no change in company, as we used Loan Depot for the original mortgage and the refinanced one - therefore they were supposed to have paid the insurance. This was all on a recorded line. They said they were going to look into it. It's been months now, we keep calling and they say they'll look into it and get back to us, which they never do. Our mortgage is now going up by $700 a month starting on April 1st, because of an error they made. As the insurance was not paid, they put their own lender insurance on our mortgage which was $7000 (compared to our normal approximately $2000). We now have a negative escrow which they told us we could pay in full or pay $700 a month over a years time. Geico sent multiple reminders to our mortgage company to pay the insurance. After they never paid it, our Geico insurance was cancelled (which we weren't notified about - until our Escrow went negative) and we were forced onto Loan Depot insurance without them even telling us. Now they want us to pay those much higher costs because of their mistake. Again, they say they'll look into it but never do.

  

  Business Response

  Date: 04/19/2023

  Hello 

  Please see the attached response

  Thank you, 

• Initial Complaint

  Date:03/24/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I applied for a home improvement loan on 3/13/23 with *** ****** but cancelled the request at the end of that same day. Loan#********* - Jay advised that the appraisal deposit would be refunded in 2 business days but I needed to still submit my W2, pay stubs and insurance dec page. I submitted these items via email on 3/14/23 hoping to close this case. As of today, I have still not received my refund, which was on my credit card and accumulates interest daily. He is now NOT responding to emails so I reached out to his supervisor, Lee Holstein with absolutely no reply. They owe me $520.00!

  

  Business Response

  Date: 03/31/2023

  Please see the attached document.

• Initial Complaint

  Date:03/23/2023

  Type:Sales and Advertising Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  We refinanced our loan through Loan Depot within the last 12 months. In February 2023 we were notified by the insurance department of the loan company that our homeowners insurance had been cancelled and they would provide us with insurance at a higher rate if we did not secure new homeowners insurance. We contacted Safeco our insurance carrier of 15 years and were told it had been cancelled in November due to lack of payment. Our insurance is part of our escrow and was supposed to be paid by Loan Depot. When confronted Loan Depot admitted they failed to pay resulting in us not having coverage. They were not able to get our insurance reinstated without us paying a higher premium. We then received an insurance check from Safeco returning our payment of $2765. This was taken from our escrow and sent to Safeco months after it was due. We had to secure insurance on our own so as not to incur additional cost. I have little faith they will administer our escrow effectively. They didn’t suffer any consequences for their failure to pay and we lost our insurance company and any points from loyalty and prompt payments and were left with no insurance coverage for months. We now have to return the refund we received from our escrow that they paid to Safeco in error and late. They are unprofessional, had no consequences and we are the ones who suffered for their mistakes.

  

  Business Response

  Date: 04/24/2023

  Attached please find our response. 

• Initial Complaint

  Date:03/23/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  On 10/29/2022 I paid my mortgage payment for October. Unbeknownst to me at the time, my bank denied the charge. On 11/2/2022 Loan Depot sent an automated portal message stating the payment did not go through and "if your payment is not received by the end of the current month, we may report late and/or missed payment information about your account to the credit bureaus." I made the payment before "the end of the current month" but a late payment was still reported to the credit bureaus and caused significant damage to my good credit. I have never had a late payment to Loan Depot or any other entity and have asked nicely multiple times as a courtesy to have this removed. I have been told "you signed the documents knowing the terms and ramifications," which I do not dispute, I'm just asking for a one time courtesy especially given the letter dated November 2, 2022 stating reporting would be done if the payment had not been received by the end of the "current month." If this is not what Loan Depot truly intends to uphold, then the wording in these letters needs to be updated. I, however, followed what was said in the letter and should not have my good credit tarnished because of Loan Depot not following through on their word. I was satisfied with Loan Depot up until this point when portal messages and calling customer service did not take care of my issue. Customer Service acknowledged my letter but only stated that I know the terms and ramifications of my loan and there would be no help extended to me. I was also told by another agent that Loan Depot can't reverse what was reported, which I know from working with a federal credit union is not true. I am thoroughly disappointed in the way this was handled and am hoping for a resolution and good relationship going forward.

  

  Business Response

  Date: 03/29/2023

  Attached please find our response.

  Customer Answer

  Date: 03/29/2023

  I do not accept the response made by the business to resolve my complaint because they did not actually try to resolve my complaint. They do not acknowledge the letter dated November 2nd that clearly states if the payment was not received by the end of month they reserve the right to report to the credit agencies. Instead, they disregard that letter and state they can report to the credit agencies because payment was not received in October. What is the point of the letter if it is not upheld? I am left believing Loan Depot is not a company of its word. Instead, they are a company that wants to place blame. If they can't blame me, they want to blame my bank. If it's not my bank, they want someone else's name to blame. They can't be a kind and forgiving company that says, "accidents happen, we support our customers and can forgive this one time only" not just for me, but apparently anyone who does business with them. I will not recommend Loan Depot to anyone in the future. I am attaching a copy of my bank statement which shows my bank withdrawing the funds from my account on November 1st and does not show that the payment was returned and shows the funds were there. However, because of the way my bank classifies "available" and "current" funds due to pending charges they declined the payment at the time it tried to come through. This was beyond my control as I am not the bank. I don't agree with the way the bank handles pending transactions, but again, I am not the bank. Hopefully this will end this debacle once and for all because it clearly shows the funds were there and this will be eradicated from my credit report. 

  

  Business Response

  Date: 04/05/2023

  Attached please find our response. 

• Initial Complaint

  Date:03/21/2023

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I contracted to build a home with TriPointe Homes in Nov 2021 and agreed to use their preferred lender, LoanDepot. When interest rates were soaring during the summer of 2022 I agreed to lock my interest rate for $1,294.60 on Aug 26, 2022. Through out the process I was transparent about my marital status being separated with a divorce in progress. The loan processor, ***** *******, warned me that the title company may not allow me to close due to my marital status. She proceeded to request a waiver from the title company and the title company didn't have an issue with my marital status & stated that I could proceed with closing on the home. Then in early November 2022 I was informed that LoanDepot had an issue with my marital status and would not allow me to close without my soon to be ex-husband's signature on the title documents. I did reach out to my Ex to request for him to sign the documents, but he refused as we are not having an amicable divorce. I informed my loan processor of his refusal to sign, but LoanDepot still would not allow the closing of the home, originally saying that it would be illegal. As a result the builder was refusing to refund my $20,000 options deposit and would also keep my $5,000 earnest deposit. Because of this I was forced to hire a real estate attorney to resolve the issue. The attorney made it clear that it wasn't illegal for me to close without my Ex's signature. Then LoanDepot changed to state that it was against their policy & they refused to waive said policy. The contract signed with LoanDepot said that I would be refunded my lock rate fee at closing or if the lender denied the loan. Because the lender would not allow me to close on the home, they effectively declined the loan. I have requested several times for them to refund the payment, but they refuse to do so. I also requested reimbursement for the lawyer fees (est $1,400). The loan processor did not make me aware of this Lender policy before taking the lock rate fee.

  

  Business Response

  Date: 03/30/2023

  Please see the attached document.

  Customer Answer

  Date: 03/30/2023

  LoanDepot did not make me aware, that as the lender, they were going to require both signatures at closing before collecting the lock rate fee. This is a fee they collected. I was only made aware of the potential problem with the title company, which is why a waiver was obtained from them. They did not offer other avenues to complete the closing even though I suggested several. Additionally, I did not run into the same issue while using another lender, which is why I was able to close with another lender. LoanDepot's unwillingness to work through this issue forced me to hire a lawyer to complete my home buying process and they should refund the lawyer fees I have to incur because of it.

  

  Business Response

  Date: 04/06/2023

  Please see the attached document.

• Initial Complaint

  Date:03/21/2023

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Received Mortgage Assistance from the State of Illinois to cover the cost of past due balance. Loan Depot has taken an additional $7,276.98 of that assistance find, and no one can tell me why. Loan Depot confirmed that my property taxes and Homeowner's insurance have not increased. I called several times, and I keep getting a response saying someone will call me back, and no one ever does. I have been told by several of their customer service representatives that they do not know why and that I need to speak to someone. Additionally, since I am caught up on my mortgage, I was told I could do bi-weekly payments; however, I was just told I cannot at this time because I am still in LM. How can that be when I am paid in full plus a month or 2 in advance? They are not responding to my email or returning my call to get an explanation.

  

  Business Response

  Date: 03/29/2023

  Hello, 

  BBB response attached. 

  Thank you, 

  Customer Answer

  Date: 03/29/2023

  Loan Depot had not attempted to call me and my voice mail box it not full. Everytime I called I was given different information.  According to their representatives,  cook county, and Progressive their hasn't been an increase.  I called several times and was told someone would call me back to explain. Also, I haven't received any notice regarding an escrow increase which is required by law. I am still waiting on a call from loan depot to explain without having me to get information regarding my loan from the BBB.They should reach out to me directly for updates on my loan as requested.  

  

  Business Response

  Date: 04/04/2023

  Hello, 

  Please see the attached response

  Thank you, 

• Initial Complaint

  Date:03/21/2023

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  This is a tax issue Keep on calling about my $2,500 refund I'm waiting for the wrong partial taxes Promising me investigations and adjustments and credits and refunds and checks will be made I need to keep on calling no one is able to read notes professional this is so not nice they need they took my money to pay someone else's property taxes I still didn't got back my money

  

  Business Response

  Date: 04/10/2023

  Pleas see the attached response and enclosures.

• Initial Complaint

  Date:03/17/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have reached out to the 3 Credit Bureaus and LOANDEPOT.COM to update my late payment from my credit file but it seems no action nor response to my previous complaint. I am reaching out to seek assistance to have LOANDEPOT.COM update and remove the payment status.

  

  Business Response

  Date: 03/31/2023

  Hello, 

  Response attached. 

  Thank you, 

• Initial Complaint

  Date:03/16/2023

  Type:Customer Service Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  On March 9, 2023 my husband and I began the process of a Heloc, now on March 19, 2023 , we still have no way of monitoring our loan process. Personal information items are continuing to be requested but we are only able to submit them in ways that are not secure. We could not log into your website profile to submit. Our loan processor ***** will not respond to phone calls or emails. Our emails are mixed up, as the original loan advisor suggested to use different email address when applying. Now as of today 3/16/23, we have been granted access to a LoanDepot profile, but the profile we have is NOT ours. You have granted us access to a strangers loan information. This person lives in Georgia and we do not. We have access to all of this persons online chats as well. So does someone else have our personal information?! This needs to be resolved ASAP and the additional party needs to be alerted that their personal information was leaked. I expect someone from the LoanDepot executive team to respond to assure us that our personal information is safe and has not been given to a stranger!

  

  Business Response

  Date: 03/17/2023

  Please see the attached document. 

  Customer Answer

  Date: 03/17/2023

  
  Better Business Bureau:
  
  

  while I do not believe in their full response,  “this has been an isolated incident in which no other accounts were affected”, there was another account affected as we saw all of their loan information, address, internal we chats and uploaded documents. I just hope this information is not hidden from this other client. 
  

  Unfortunately, phone calls/texts made to multiple teams Sunday 3/12-Wednesday 3/13 either went Ignored, forwarded in circles, or sent  to voicemails with no resolution. Sadly it took emails non-stop and a BBB concern to have this issue addressed in a somewhat timely manner.

  At this time LoanDepot was able to correct the account access but this was not corrected until after the loan closed, so it is now pointless. They also did set me and my husband up for credit security to assist with any leaked information. LoanDepot has remained in contact since Thai complaint was originally made. 

  I have reviewed the response made by the business in reference to complaint ID 19604659, and find that this resolution would be satisfactory to me.  I will wait for the business to perform this action and, if it does, will consider this complaint resolved.
  
  Regards,
  
  ****** ******