ComplaintsforLendingOne, LLC

• Initial Complaint

  08/17/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  undertook the loan process with 4 loans with this company. One loan was pulled last minute and resulted in an appraisal fee and survey fee. The company promised to pay back this money but never sent the funds Second loan, a year after underwriting and loan accepted. they deemed to require flood zone. I request to cancel the loan and have all loans fees refunded. I would never have taken the loan from Lending one and it is our opinion the product was mis sold to our company. In addition after the year they back charged for the prior year of flood insurance, even though it is not possible to claim and no flood occurred and we was giving no option to have our own policy. Numerous mistakes by **************** that is servicing the loan on behalf of the lender. (the flood insurance company has no record of a policy for any year and have not received any fees.) $6,000 missing from escrow and no accountability or audit trail. We just want all fees associated with that loan to be refunded as we feel we was misled as they knew we would not take the loan with those conditions.

  Business response

  08/30/2023

  LendingOne takes all complaints filed against it extremely seriously. However, ************************ has a history of filing unfounded complaints against LendingOne and other financial institutions. This BBB complaint is no different. In November and December of 2021, LendingOne issued 3 business-purpose mortgage loans to Mr. *********** company, ***************************** LLC (Premier Home). ************************ (via Premier Home) submitted a fourth loan application to LendingOne, but ************************ did not accept the terms and did not move forward with the loan. Contrary to Mr. *********** allegations, LendingOnes records indicate that it fully refunded the appraisal fee. Moreover, LendingOne does not charge a survey fee on any of its loans, so Mr. *********** allegation is false and no such fee was ever collected from him and, thus, none is owed to be refunded to him.  
  
  Further, LendingOne requires flood insurance be obtained for all subject properties located in a flood zone. One of the properties securing a Premier Home loan is located in a flood zone and so LendingOne required *********************** obtain flood insurance. While this issue was first discovered by the servicer within weeks after the loan closed, ************************ was promptly made aware of the requirement but refused to obtain the insurance, so the servicer had no choice but to force place the flood insurance. This is standard practice in any mortgage transaction, including this one, and is expressly allowed under the loan documents.
  
  Further, there are no funds missing from the servicers escrow account. ************************ is just using this issue as a pretext to not be responsible for paying the insurance premiums. ************************ is free to pay off the loans whenever he would like, subject to the agreed-upon prepayment fees included in the loan documents and allowed under applicable law.
  
  Finally, as stated above, ************************ has a history of filing unfounded complaints against LendingOne. In January of 2022, on behalf of Premier Home, ************************ filed a *** complaint against LendingOne in response to LendingOnes denial of one of Premier Homes loan applications.LendingOne denied the loan application because it was evident the tenant was running a group home out of the property, which was expressly prohibited under LendingOnes applicable underwriting guidelines. ************************ first denied the existence of a group home operation and then later alleged LendingOne was discriminating against the elderly. ************************ demanded LendingOne pay him to go away.When LendingOne refused to do so, ************************ filed the *** complaint. *** investigated the matter and ultimately found the complaint lacked any merit and dismissed it outright.

  In sum, similar to **************************** prior *** complaint, this BBB complaint is based on false allegations and untrue facts, lacks merit, and should be disregarded in assessing the quality of LendingOne and the loans it originates.  

  Customer response

  08/31/2023

   
  Complaint: 20485714
  
  I am rejecting this response because:
  Company is a joke and despite requesting payoff still no payoff received. 

  Sincerely,
  
  ***********************************

  Business response

  09/13/2023

  This is yet another false and unprofessional allegation made by ************************. ****************, ***** the third-party loan servicer for loan # 0050029114, provided the attached payoff statement dated August 29, 2023 to **************************** company, ************************* LendingOne remains ready and willing to help ****************** Group payoff all outstanding loans with LendingOne (and its successors/assigns) or resolve any outstanding insurance-related requirements or any other outstanding issues. Thank you.

  Customer response

  09/13/2023

   
  Complaint: 20485714
  
  I am rejecting this response because complete lie, also they transfered away from ****************** and still charged both **** and new servicing provider. Also I am not paying no prepayment penalty when they are in breach of the agreed loan

   

  Their reviews speak for themselves. I don't leave bad reviews, except for this terrible company
  
  Sincerely,
  
  ***********************************

  Business response

  09/13/2023

  What contract are you referring to exactly? LendingOne issued a commercial mortgage loan to **************************** company. Are you requesting certain loan documents? If so, for what purpose and what specific documents are you requesting? Thank you.   

  Customer response

  09/13/2023

   
  Complaint: 20485714
  
  I am rejecting this response because:
  
  Sincerely,
  
  ***********************************

  Customer response

  09/13/2023

  1) Lending one has failed to answer any of the complaint, they confirm by their own answer that they didn't make me aware of the flood requirement prior to the loan. 

  2) in addition they said they refunded the appraisal fee, please provide confirmation you refunded this fee and i will gladly withdraw that aspect of the complaint,

  3) Lending one has replaced **** servicing since the complaint with Shellpoint, (however **** servicing have still charged the monthly mortgage twice. (they said they would credit October, this is unacceptable. 

  4) **** servicing has MISSING FUNDS and no accountability from lending one. 

  Business response

  09/19/2023

  >
  
  

  
  

  Thank you for your response. Please see attached PayPal confirmation of the appraisal refund. Please note that this was 2 years ago. We closed 3 loans with **************************** company and denied 2 of their loan applications. We issued 1 refund as a show of good faith since we hadn't yet ordered the appraisal report. However, for the other rejected loan, since we had already ordered and paid out of pocket for the report, we could not issue a refund. This is standard in the investment real estate lending industry. 

  
  

  Please let me know if you need anything further.

  
  

  Thank you,
  

  
  
  

  Customer response

  09/19/2023

   
  Complaint: 20485714
  
  I have just spoken to PayPal and attached the screenshot from our PayPal account.  PayPal need you to call them and attach the correct email to the refund. ********************** as we never received this. 

  Based on the conversation with the payp agent it appears that these funds was placed in limbo as you didn't send to correct location. (This will be a good gesture to help resolve that aspect of the claim)

  I would also be willing to work with and resolve the other remaining aspect, with a flood policy purchased on December 31 2022 to be removed from the charges. In addition to the fees **** servicing has charged in addition to the new servicing company this month. 

  
  Sincerely,
  
  ***********************************

  Business response

  09/20/2023

  Please see attached updated confirmation of appraisal fee refund, which shows as completed and that the funds are out of LendingOne's account. ********************'s accounting team was never notified that there was an issue with the refund and it goes back to the card, not the email. Hopefully, this should resolve the issue. Please confirm. thank you.

  Customer response

  09/20/2023

  Hi, 

  unfortunately it has not been received back to the card in question. PayPal said that you need to call them and attach and email to the account, which is ********************** and ask them to release the funds. 

  As it stands no refund has been received back to my card or PayPal account and PayPal request that you contact them with the attached payment ID to resolve the payment situation 

  Business response

  09/21/2023

  Since we are having unusual issues with Paypal processing this refund, LendingOne will simply send a check in the amount of the refund to **************************** company, ****************************** Please see attached cover letter and copy of the check that was sent out yesterday. 

  Customer response

  09/24/2023

  Complaint resolved based on the check that was received Saturday for the missed payment. I  have confidence in the company to investigate the remaining issues and resolve without the need for BBB

• Initial Complaint

  05/07/2023

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  Reaching out to report business -JJJ REAL ESTATE SOLUTIONS AND LENDINGONE LLC along with ******************************* and *************************************** for violating tenant right, health code, and for violations **** revised code (ORC Section *******)

  Business response

  05/24/2023

  LendingOne, LLC (LendingOne) issued a business purpose mortgage loan (Loan) to JJJ *********** Solutions LLC (JJJ ***********),which is owned ******************************* and ************************* (collectively, the Johnsons),on August 26, 2022. The Loan is secured by 7 residential investment properties,one of which is located at  *********************************************************************** (the Property). The Claimant, ********************* (***********), appears to be the tenant of the Property and filed the underlying BBB complaint (the Complaint) due to issues allegedly she has been having with the Johnsons and the Property.  As such, this appears to be solely a landlord-tenant dispute to which LendingOne has had no involvement.LendingOne has never had any communication with ************ and was not aware of any alleged violations of tenants rights, health codes, or any other applicable laws involving the Property or ************. In fact, LendingOne is no longer even the owner (or servicer) of the Loan. It appears ************ included LendingOne in her Complaint solely because LendingOne issued the Loan to JJJ *********** and may still be listed in the property records as having a security interest in the Property. With that said, of course LendingOne does not condone any violation of applicable laws or tenant's rights, and hopes JJJ ***********, the Johnsons, and ************ can reach an amicable resolution of this matter.

*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. ↩