Complaints
This profile includes complaints for LoanDepot's headquarters and its corporate-owned locations. To view all corporate locations, see
Customer Complaints Summary
- 444 total complaints in the last 3 years.
- 123 complaints closed in the last 12 months.
If you've experienced an issue
Submit a ComplaintThe 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:09/23/2022
Type: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 took out a mortgage through Loan Depot, they convinced us to do escrow through them because they said it would help our rates. Well we received a delinquent property tax bill. It took them from Aug 11, 2022 until Aug 31, 2022 to “supposedly” write a check for our taxes which comes from the money in our escrow account. At this point our taxes were one month past due. Now it is Sept 23, 2022 and our taxes have still not been paid. I called and was told to check back in 5 more business days. Our taxes are past due, every day they are getting more fees on them, not to mention I have never missed a bill in my life and Loan Depot is making us look bad. They are not responsible at all and they have terrible service. I am still waiting on a call from a manager that I demanded to speak to back in Aug. they say they have great customer service but so far all I have witnessed is them passing me from person to person and telling me things are paid when clearly something is very wrong!
Business Response
Date: 10/04/2022
Please see the attached response.Initial Complaint
Date:09/21/2022
Type: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 in regards to a complaint I filed earlier, on 09/20/2022, ID # ********- LoanDepot, I received the check it was addressed correctly on the envelope but, the check was for 100.00 more (595.00) and it was made out to ****** ******** at 30** ********* ** ** ** ********* ** *****. I'm expecting a check for 495.00 made out to **** ******** ** **** ******** Garfield hts Ohio *****.Enclosed is the original letter and a picture of the check. What should I do?Business Response
Date: 09/26/2022
Please see the attached document.Customer Answer
Date: 09/26/2022
I'd like to keep the issue open till I receive the check. Thanks
**** ********
Business Response
Date: 09/29/2022
Please see the attached document.Initial Complaint
Date:09/21/2022
Type: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.
09/01/2022 I closed on the sale of my property **** ********* *** ****** ** ***** which Loan Depot was the mortgage lender. I had received 3 total separate pay off amount requests from the company most currently dated from 08/26/2022 to 09/20/2022. The payoff amount reflected in the statement was sent to the buyers title company and the pay off amount was wired to loan depot on 09/01/2022. Loan depot called me on 09/12/2022 informing me that the amount was short 20,000 dollars. I called loan depot, who informed me they had received the payoff amount that was reflected on the statement but somehow their account is showing I owe 20,000 more than what was reflected and they cannot tell me why. I have called and spoke with their Texas Servicing centers. Spoke with ******, *****, ****** and all who tell me they’re going to get me a supervisor to discuss this further but I never get a call back. The funds that were wired to loan depot was wired back To the title company 29 days after the sale which again happened on 09/01/2022 with no explanation. When I spoke to loan depot with Jordan he stated the money is still in the suspension account but when speaking with Natalie at the title company she informed me all the money minus a 50.00 wire fee was credited back to the buyer. I need help.Business Response
Date: 10/07/2022
Please see the attached response.Initial Complaint
Date:09/20/2022
Type: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.
Beware!!! The gentleman that contacted me for a cash out refinance of my home was extremely knowledgeable and helpful throughout the process. Keep reading, please. We agreed, upon a lengthy conversation over the phone, that LoanDepot, via the representative I hereby mention, would send me papers for e-signature so I could specifically lock in the APR rate he quoted me for. I repeat: Specifically so I could lock in the APR rate he quoted me for. Nothing more, nothing else. I explicitly asked several times (more than 5 times) if after signing the documents he would send I could, say, a week or two from now, decide to cancel and not proceed with the refinance, and he repeatedly responded that the only thing I would be responsible for would be approximately 20 dollar for the credit check. I receive the documents, carefully read each page before signing, and start signing every page I agreed with. Then I come to one specific document with the title "RATE LOCK AGREEMENT". The document clearly read that by signing it I would be agreeing to a FLOAT RATE OPTION, and that by signing, my rate could be raised at any time. Yes, COMPLETELY THE OPPOSITE of what we had agreed upon. I will save the reader's time here and not disclose the conversation that ensued, since it would be unnecessary for the purposes of this complaint. I stopped signing, requested everything to be canceled, changed any and all passwords, unlinked my bank account from their service, and I plan to never use their services anymore. Misleading would be an understatement. The representative explicitly promised a document to lock my APR rate and provided me with a document where, had I signed it, I would have agreed to a loan with an unlocked rate. Beware! Best, R.Business Response
Date: 09/26/2022
Please see the attached document.Initial Complaint
Date:09/14/2022
Type: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 purchased a home in 2021. The home use to be a rental and the property taxes were $1800 year. Feb 2022 I was contacted by loan depot and told that I could "eliminate the PMI on my existing mortgage in todays market an average monthly savings is $150.00 - $200.00 per month"..I was working with the same loan depot agent who helped me finance my home. I provided my pay-stubs ext and loan depot ran my credit. I was also told my property taxes will be much lower ...$1800 to $624 year because it was no longer considered a rental and my payments would be lower. The agent never returned my phone calls/texts/emails and when I contacted loan depot customer service they claimed "this never happened" and my payments will be the same. I have provided all proof but loan depot still refuses to work with me. They then paid my homeowners insurance out of my escrow for the full year and caused my escrow to go negative. I was told effective May 1st my home payments will be an additional $300 a month, making my monthly payment over $1k. Also, on May 1st my account will be transferred from NJ to TX. This will be the 4th time they switched my account back and forth. I can't afford the higher payments, my escrow is now in the positive, and loan depot is still refusing to update my account to show the correct property taxes even though the county treasures office contacted them with myself by phone and email. My payments are now late, my credit is ruined & loan depot will not work with me. In May when my account was only a few days late 2 men in a blue van, from loan depot, walked around my home taking pictures then left a note on my door regarding payment. This happened 2 other times and the most recent time loan depot parked across the street at a neighbors house and was taking pictures of us doing yard work and of my minor son checking the mail...before he came over looking for me and demanding payment. Everything was recorded by my security cameras and I have all other proof.Business Response
Date: 09/27/2022
Please see the attached responseCustomer Answer
Date: 09/27/2022
My account was never 45 days late and they mentioned on Aug 17th there was a property inspection ..they are lying. They have come to my home 3 times since may and took pictures of my home and of my family while working outside. The $760. monthly payments are still higher before the property taxes were decreased. Then never contacted me to re-finance and they still do not know who is servicing my account because the number they gave is the NJ ************ number and my account is with TX. I disagree with their lies and will be filing more complaints against them.Business Response
Date: 10/10/2022
Please see the attached response.Customer Answer
Date: 10/12/2022
I do not accept the 2nd response from Loan Depot. They NEVER called me as stated below. (#1) I have called them multiple times and I can prove by my ATT account and I recorded ALL phone calls when I was told WE'LL HAVE SOMEONE CALL YOU"...they never did. I then sent 4 messages to Loan Depot on my account that went unanswered and I can prove it. They are liars and do not care about there customers. #2 below my payments went up do to the escrow going negative because they paid my homeowners insurance. I NEVER told loan depot that I "disagree" with he amount only that they raised my monthly payment then told me per online chat (thats recorded) that my payments will remain over $1k even after the escrow was brought to a positive amount. They never updated my account regarding my property taxes and as far as the $760 that STILL HIGHER than the original amount I was paying at $730.....and the $730 was because of the HIGHER TAXES. So if my taxes are over $1k lower a year and the damn insurance is paid WHY ARE MY PAYMENTS STILL HIGHER? Loan Depot cannot answer this question. That's why I disagree with them and will continue filing additional complaints. Thank you BBB for all you have done and as far as LOAN DEPOT....they are liars and I can prove it!!!!#1 "Ms. ****** also states that she had been interested in a possible refinancing of her loan in the hopes
of removing the Private Mortgage Insurance (PMI). We note that an application was opened on her
behalf on February 3, 2022, but no further contact with the customer was made. We sincerely apologize
for this oversight. We are currently attempting to contact Ms. ****** but have been unsuccessful at
reaching her at the telephone number on file and are unable to leave her a voice message"#2 "The new analysis was completed on September 23, 2022, and Ms. Warweg’s mortgage payment
decreased by $256.47 to $760.22. The remaining shortage reflected in escrow of $49.90 is due to an
increase in property insurance. We had been escrowing for a premium amount of $1,167.96 but on
March 10, 2022, we paid the premium due in the amount of $1,319.84. If Ms. ****** disagrees with
these figures, she will need to speak with her insurance carrier directly."Initial Complaint
Date:09/11/2022
Type: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.
see Attached documentBusiness Response
Date: 09/16/2022
Please see the attached responseInitial Complaint
Date:09/11/2022
Type: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.
I have a home purchase contract with a homeowner who has a FHA assumable loan from LoanDepot (LD). Since day one we have been requesting LD to provide the information/documents/forms needed to takeover the loan. LD refuses to speak to anyone who is not the borrower, unless, they have the borrower's permission. 3-way phone calls to LD followed with myself, borrower and LD. During the 1st call, LD advised nothing would be provided to me until LD received an "Authorized To Disclose Information" form from borrower which provided borrower's info and my name, address, phone number, email, etc. LD then stated some information was available to download on borrower's LD account on their LD's website. We downloaded the form and placed his permission to speak with me and my contact information on LD's "Contact Form" on borrower's account page. Next, borrower filled out the authorization form and mailed to LD via **** Priority Mail with tracking (**** **** **** **** **** 60) that showed it was received by LD on 8/8/22. Nothing was received from LD so another call to LD revealed a LD agent who denied LD ever received the authorization and there was nothing in borrower's file giving permission for LD to forward Loan Assumption packet to me. Yet another 3 way phone with LD resulted in LD now mailing (7days) the Authorization to borrower to fill out and return. ******** returned the completed form via **** Priority Mail (**** **** **** **** **** 72) which was received by LD on 9/1/22. Nothing happened. On 9/9,/22 another call and once again LD denies receiving the newest Authorization. Meanwhile time on our sales contract is quickly passing. LD makes it difficult for info/documents to get to/from a buyer wanting to assume the existing mortgage. Assumption info/forms/docs should be available to download/upload on LD's website. But with FHA limited assumption fee of $500.00 and a small credit check fee, there's no incentive for LD to be proactive and supportive. Sad.Initial Complaint
Date:09/09/2022
Type: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.
Complaint is regarding Loan Officer **** ******* After letting him pitch his product I told him that I wasn't interested. He began to attack my credit report as if he was going to be the savior of my financial life and did so in a way that was very unprofessional, condescending and attacked me personally. This interaction turned into an argument. I told him no thanks again and hung up. He called back and pretended as if we got accidentally disconnected and proceeded to try to have a discussion with me. I hung up and requested a supervisor. This is something that should be documented as a unethical and poor business practice on the part of Loan Depot.Business Response
Date: 09/12/2022
Please see the attached document.Initial Complaint
Date:09/08/2022
Type: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 handled my Mortgage and Escrow Payments through Loandepot since I purchased my property at *** ***** ******. I had elected to authorize Loandepot to draft my monthy payment from my primary checking account each month. In September of 2022, my Loan was transferred to their new Loan processing Facility in Texas. I received an e-mail asking me to register my new account. I contacted Loan Depot Customer services on September 6th, 2022. I confirmed via phone that my account had been successfully transferred to the new facility and that autopayment of my loan would resume on the 8th of September. I was unable to log onto the web portal to manage my loan at this time and was told that I would need to wait until the transfer was complete. The morning of September 8th, I viewed my checking account and found that LoanDepot had charged my total monthly loan payment of $2449.57 twice. Both posting on the 7th of September 2022. This action caused my account to be overdrawn. When I contacted LoanDepot services to dispute the double-payment, they tried to claim I had manually authorized a second payment, despite the fact that I had no access to their web portal to manage my account during this time. They refused to refund the amount. Eventually, I had to contact my bank, Chase, address their claims department and dispute the charge.Business Response
Date: 09/15/2022
Our response is attached. Thank youCustomer Answer
Date: 09/15/2022
Loan Depot in their response continues to deny responsibility for double billing my account. In their response they continue to claim that I made a manual payment on the 7th of September via the web portal. Yet a review of their own internal documents will show that I did not have access to manage my account via the web portal until the 8th of September at the earliest. The fact that they continue to maintain this falsehood infuriates me.
Business Response
Date: 09/22/2022
Please see the attached response.Initial Complaint
Date:09/03/2022
Type: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 recently filed Bankruptcy, since the filing our LoanDepot account has been a mess and not because of us. 1st our automatic payments were stopped with no warning. This created a late payment. 2nd We have been sending in our payment to the new address provided by Loandepot on time, however it has been taking up to 2 weeks for LoanDepot to cash our check and they have created late payments and Late payment fees. 3rd. LoanDepot keeps adding unexplained fees to our payment, attorney fees as well as others. We have not had one single explanation on these fees nor did we expect these fees. This needs to be fixed. We need our automated payments to be put back in place and an explanation of these fees and what to expect in thew future. We filed Bankruptcy to help us reorganize and payback what we owe to creditors, this is hurting our efforts and creating stress that we are working to get rid of. Thank you, *********** ***** US Army Sniper/Retired Medal of Honor NomineeBusiness Response
Date: 09/22/2022
Please see the attached response
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