Complaints
This profile includes complaints for LoanDepot's headquarters and its corporate-owned locations. To view all corporate locations, see
Customer Complaints Summary
- 445 total complaints in the last 3 years.
- 123 complaints closed in the last 12 months.
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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:09/01/2022
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 received a letter on April 22, 2022 stating that I was overcharged in my home refinancing and that there was a refund check of 495.00 dollars that I needed to claim. I included the required information along with the letter and I've not heard anything back. I attempted to contact them on 05/09 explained to them the situation and provided a copy of the letter, they told me that they would escalate it and someone would be in contact with me. Tried again on 06/09 and on 07/12 and got the same answer and no one ever called me back.
Business Response
Date: 09/15/2022
Please see the attached document.Initial Complaint
Date:08/25/2022
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.
In may i had a hail damage report submitted on 3 out buildings, I received funds to make the repairs and because it was over $40,000 loan depot was listed on the check. I submitted information they wanted and endorsed the check. Loan depot has had the funds since August 2, 2022 and so far there is no indication when I can receive the funds to begin the work.Business Response
Date: 08/31/2022
Please see attachedInitial Complaint
Date:08/24/2022
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.
The COVID relief plan presented did not alleviate the financial burden as explained, it exacerbated it. The plan was supposed to be 6 months beginning 2/21 through 7/21. On the Covid relief application we chose to have the payments added onto the end of the loan. THIS DID NOT HAPPEN. Our payments were $1,445.87, which we expected to resume. When attempted to make a payment for 8/21 the bank wouldn't let us resume payments as was indicated on the application and expressed by the agent. We spoke to several individuals, each telling us something different. This "game" continued for months. One individual said our loan was sold from NJ Loan Depot to TX Loan Depot. We were not notified. February 2022, we spoke to ******* *******, he was finally telling us we would be able to resume regular payments. Then ******* was gone. March 2022, we received a door hanger indicating we were in default and would be evicted. Upon finding this, calling and pressing 0 until we could speak to a person. We spoke to ******. She indicated our payment would be $1,549.38. We made that payment 3/29/22. ****** also indicated we had an outstanding balance of $26,572.91, it was called a partial claim mortgage. This was supposed to go on the end of the loan. The first loss mitigation packet was rejected 3/30/22, because not all the papers had the same date, all the notarized papers had the same date! The next set of loss mitigation papers arrived 3/31/22, with a due date of 3/28/22, they were subsequently approved. However, none of the paperwork was updated, it all reflects 3/14/22. As of 4/26/22 the payments increased to $1,895.60, this was explained as an escrow shortage by Wayne. He further shared the payment would remain $1,895.60 until December 2022. THIS WAS WRONG. The 5/13/22 statement showed a payment of $1,915.60. We have paid this consistently. Others we know resumed making original payments with their lender after the COVID relief. LOAN DEPOT has been running a COVID scam.Business Response
Date: 08/31/2022
please see attachedInitial Complaint
Date:08/18/2022
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 entered into a forbearance with my mortgage due to Covid-19 in April of 2020 because of work layoff. In March of 2021 I paid loan depot the full amount owed due to the forbearance. In April 2022 I sold the home for more than the full amount owed on the loan. In May or June of 2022 my wife noticed a foreclosure on the credit report. I called loan and ***** ********* was handling my credit dispute. In July she informed me that there was communication issues on their part and the issue would be taken care of. She also said I was owed $717 due to attorney fees at closing that was done by mistake. I received the check and deposited it into my account. It was then sent back with a stop payment, and the credit issue was not cleared. I can now not get in touch with Ms.Fernandez about the credit reporting or the returned check. Called the customer service line and was told to resubmit the dispute. That was done 8.18.2022Business Response
Date: 09/20/2022
Please see the attached response.Initial Complaint
Date:08/18/2022
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.
In 2020 my husband lost his job and we were unable to stay current on our mortgage payment. We called loan depot and we entered a forbearance. After a year of trying to get back on our feet my husband took out money from his retirement and we repayed everything we owed to lone Depot up to that point. We were still unable to continue making payments so we decided to sell the house and an April 2022 we sold the house and loan depot was paid back everything we owed them. After we sold the house they put a foreclosure on our credit. After several attempts by phone and email we were told by several people that this would be resolved and it would be taken off of our credit. in July 2022 they sent us a $717 check because we were owed that after closing is what we were told. We put it in our account and a week later we got a letter from our bank stating the check was recouped and taken out of our account and a $15 fee was applied to our account. I called loan depot once again to ask them about the foreclosure and the check and was told they can re-open a case. And the check was sent in error. Cindy Fernandez the rep that helped us initially in May is now not returning our calls or emails and we’re just getting the runaround. Every dime we owed Home Depot has been paid and there should be no reason for foreclosure to be on our credit.Business Response
Date: 08/27/2022
Please see the attached response.Customer Answer
Date: 08/28/2022
Loan Depot contacted us and told us they would get back with us in3-5 days. Today makes day 10 without no communication from anyone. I want this matter resolved NOW. They have done this before that’s why I filed the complaint with BBB because I can’t get an answer. Maybe I just need to get my attorney involved!Business Response
Date: 11/07/2022
Please see new business response in theattachmentInitial Complaint
Date:08/12/2022
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.
Loan Depot contacted me to refinance my home. After many discussions and conversations … I decided to not refinance with this Company. They now have yet to reimburse me for the home assessment that did not take place. I then contacted my Insurance Agency and found out that this Company assigned themselves as my mortgage lender without my permission. I was hounded by this Company and now can’t get any response. They are now asking my agent to refinance. They are not honest and very shady. It worries me that they have all my personal information … yet insisted on more. Something isn’t professional about this Company.Business Response
Date: 08/15/2022
Please see the attached document.Initial Complaint
Date:08/11/2022
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.
April of 20202 I closed on my house, i closed as a exempt disable veteran. On December 21, 2021 loan depot made a payment on my behalf for taxes and in January of 2022 I found out that they had paid the wrong house, and was advise to pay the property taxes to prevent my house from going into tax sale so I did. The mortgage company increase my mortgage up to $2155 for several months then decrease it to $1648 for another couple of months then now its $1278 and its been that for a while now. I called in recent to check and see if they have receive the refund payment from the county and they told me that they are working on it. I was also made aware that mortgage will be going back up to $2155 starting September 1, 2022 and my escrow will be a -8000. They stated due to a estimate tax amount for July 22,2022 but when informed them that a new tax bill isnt out yet and wont be out until late October he said he will look into it. I also provided proof from the county that i am 100% exempt, I also provided proof of payment receipt from paying my own taxes. My mortgage has not return to the original amount of $1147.Business Response
Date: 09/12/2022
Our response is attached. Thank youCustomer Answer
Date: 09/13/2022
I've been calling and talking to different managers none in which ever is consistent nor follow up after the 1st contact with me. I ask several times what happen to the extra money that i have been paying towards that negative escrow balance every month. The taxes were paid but I was still paying towards the taxes and the escrow balance. At one point my mortage increased to $2155. Today I called in and a manager was very rude for no reason as if I was the one whose been messing up my account. I also informed a manager that the tax amount of $735 will be available to refund back to them once the new tax bill is release. I really don't know what else to do.Business Response
Date: 10/12/2022
Please see the attached response and enclosures.Customer Answer
Date: 10/21/2022
I don't agree with this response, they only took accountability for the way the customer service rep treated me. They failed to mention that the delay in tax payment was also due to discussions of being exempt. They are insinuating that my payments were returned for insufficient funds when I was directed by one of there team members not to allow the payment to process. I was informed that they took money from my escrow and paid taxes on the wrong home and instructed me to pay the tax balance to cook county instead of them so I wont lose my home. I did not request a refund from cook county on mine or loan depots behalf to inform them of anything, I have been waiting on guidance and solutions from Loan depot. The taxes on my home have been paid in full by me and loan depot have collected much more in unnecessary fees monthly due to escrow payments that didn't even apply to my home. Loan depot claimed they cut me a check that I have not received, I have reached out via phone and email and still no answers as to what happened with it. My mortgage is still higher then my original amount of 1,147.00 and my escrow still holds a negative balance. Nothing is resolved.Initial Complaint
Date:08/08/2022
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.
won't stop calling &sending lettersBusiness Response
Date: 08/11/2022
Please see the attached response.Initial Complaint
Date:08/08/2022
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 received a phone call from ****** ******** offering their services to refinance with a lower interest rate. 1/15/2022 $23.05 1/17/2022 $495.00 although I explained to ****** ******** that it has not been a year since I purchased my home and it was not time to refinance, ****** emphasized that they were going to make it work and that in order to lock in the rate that he was offering me I needed to make a payment right away. I received a call from Supervisor *** telling me that they were not able to do anything at the moment and to give them a call back after April 1st, 2022 . I called and called after April 1st and did not receive a call back from everyone that I had communicated with in the company. on 4/6/22 I send an email, and on 4/22/22 I send the last email asking for a refund and I have not received any answers from anyone in LoanDepot. My loan # *********Business Response
Date: 08/12/2022
Please see the attached response.Initial Complaint
Date:08/04/2022
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 sent in the paperwork (fax on 4-25-22) for the loan modification as required. I called Loan Depot on 4-29-22. I was told that the loan modification paperwork was received, and a processor would be assigned to complete the paperwork. On 5-10-22, I called to check the status of the loan modification paperwork. I spoke with a gentleman that stated it could take up to 60 days to get an answer to the modification. The department that had to process the paperwork was behind. On 6-24-22, I called to follow-up on the status of the application again for the third time. I spoke to a different person. He stated that the paperwork still had not been processed, and he apologized. Furthermore, he stated that since it had been more than 60 days with the loan modification paperwork not being completed, he would escalate the situation. He explained to me that he was going to forward the paperwork over to his supervisor to complete. He scheduled a telephone appointment with me to speak with his supervisor on 6-28-22 at 4pm. This scheduled telephone conversation was notated in loan depot computer system. Unfortunately, I never received a telephone call from his supervisor. In addition on 6-24-22, I spoke with the payment department. The person that I spoke to said the loan modification paperwork was not complete. I followed up again on 7-11-22, after not receiving any updates from anyone at Loan Depot as previously stated. After speaking with an agent, the person on the phone said "You need to complete another loan modification application. I completed and faxed the application on 7-11-22. I followed up on 7-18-22, they said one page was missing. So, I completed a third modification application. I was still told that I would have to wait an additional 30 to 45 days to get an answer. Loan Depot has failed to complete my orginal application with no explanation as to why. They have started foreclosure proceedings, after failing to complete my modification. Loan #**********Business Response
Date: 08/19/2022
please see attached.
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