loanDepot

The initial experience was good, but then....

The initial Loan Officer and his boss were very responsive during the documentation phase, When we closed and the closer was at the house going through the process, it was stated (for the 2nd time) that my funds for paying off creditors and the balance of the equity would be transferred electronically. They weren't and every time I sent an inquiry as to when the funds would hit my bank, I was told it is showing processed on their end so it should be within 48 hours. It wasn't and I finally did receive checks for the payoffs and the equity, but as I made the deposit to my bank, it was put on hold causing 3 of my monthly bills to be late. After the loan was complete, I was expecting to get a note from the people I was working with to check that everything went well and we were happy. As soon as the process was complete, nothing from anyone at Loan Depot. Gives me the impression they are only in it for the quick turn around and the "sale"

Not a great experience

I took a home equity line to complete some renovations on a multi unit property that I own. I did not have a great experience due to a severe lack of communication, specifically with my mortgage broker, Joe. I provided all documentation needed. Eventually I got an email from the loan processor saying I was denied due to my debt to income ratio being too high. I reached out to Joe who told me they had accidentally used my investment property mortgage as my home mortgage (I don’t have a mortgage on my home that I live in) and my investment property mortgage, but it had been straightened out. A few days later I received an email from the loan processor with a breakdown of my new loan which included $24,000 of the loan going to pay off my car loan, some small credit card balances that had already been paid off l, and a small student loan. When I reached out to Joe, I received no reply at all. In fact I never heard from him again. No one ever asked me if this situation worked for me or if I wanted to pay off these debts before taking the loan. I just got an email with no heads up. I reached out to the loan processor and let her know that I had paid off the small credit card debts. She told me I could just mail the checks to my creditors and the would credit my accounts (not ideal). For whatever reason I decided to continue with the loan. Signing the loan was easy, they sent a notary to my workplace. I was told the funding would happen in three days and I filled out a wire transfer form. Three days came and went. I finally emailed and asked when the funds would be deposited. I was told there was a problem with the transfer and the check had been mailed (again, no heads up) They mailed the check for the loan and the checks to my creditors to the apartment building I took the loan on NOT to my home address. Thankfully one of my tenants received the fedex envelope that was sitting on her front porch when she arrived home from work and let me know. I made my first payment and have received my first official loan statement from them and just for one last inconvenience, the statement is in my maiden name and not my married name. I’ve been married for 3 years. Let’s see if I can get this fixed without an act of congress. Unlikely since this company seems to be unable to get its head out of its proverbial butt.

LoanDepot Loss Draft Fiasco

If you have a mortgage with LoanDepot and suffer a catastrophic loss, dealing with their Loss Draft team is a complete NIGHTMARE! I do NOT recommend!

Loan Depot was wonderful to work with

Loan Depot was wonderful to work with. My representative Jonathan Liara was great very knowledgeable about all types of loans and financing and was able to help us get the best rates and deal for our needs. I would highly recommend them if you’re looking for a home equity loan.

Thank you Chris Hoch for making this another easy loan

Thank you Chris Hoch for making this process extremely easy. He has helped us in 2 other loans and everything was smooth and fast as can be.

Would recommend

Received a competitive rate/proposal compared to other firms I reached out to, and everyone involved was friendly and helpful in the process. Very happy with the result.

WARNING!! STAY THE HECK AWAY FROM Loan Depot

Our credit had problems, I get it. Now the nightmare is finally over! It only took just short of three (3) months. Had to keep sending the same documents over and over. They kept lying and said you’re going to close in two days, three days, next week, etc. This went on for months. The lies were tossed at us over and over again. Now we are closed and they will NOT give us the money we have coming. They said they sent it Fed Ex it to us. Another damn lie! They told us we wouldn’t haven’t to pay certain closing costs because it is our second loan with them. LIES, LIES LIES! They are cheaters, scammers and do NOT have the ability to tell the truth. My only recourse is to tell people they are corrupt company and stay the hell away from these idiots! My other recourse is to send in the mortgage payment minus the money they owe us. Terrrible, terrible people to deal with!! The date listed isn’t the exact day.

THEY DID NOT LISTENED TO ME AND MADE ME…

THEY DID NOT LISTENED TO ME AND MADE ME WASTE A MONTH! It started very well, the first time we talked I mentioned that the previous time I asked for a loan it was denied because in the condo I am living too many units are owned by a single individual. They told me that's all right, it's different. After working on it for a month they tell me: it is denied because in the condo I am living too many units are owned by a single individual. THEY DID NOT LISTENED TO ME AND MADE ME WASTE A MONTH!

Refi with a human touch

From my first contact to the final signing and funding, this was a very easy, stress-free experience. This was my second time going through refinancing with loanDepot and it was even better than before. Their staff is focused on top line customer service and support. They are knowledgeable about the industry and make you feel like you are their top priority. I would not hesitate to recommend them to anyone looking to purchase a home or refinance their mortgage!

bait and switch

bait and switch, bad communication, vague answers, errors slipped in to final documents, had to extend escrow multiple times, application was not evaluated in a timely manner or intentionally put off which led us to rush to close and forced to accept a higher rate, loan officer is either incompetent or shady and knows exactly what they're doing

The staff made the process very easy.

Nathan was super friendly and helpful

Nathan was super friendly and helpful. He was incredibly responsive, even on weekends. We felt confident that we could make offers quickly and got a house we love. Nathan also was able to match offers made by other lenders

They call me day and night

They call me day and night, constant harassment after a simple inquiry on Google. Do not give this company your phone number, they will abuse it.

Kyle was great and help make the…

Kyle was great and help make the process quick and smooth

Good and fast

They provide a service…technically

They provide a service, is it legal, perhaps; but they put so little of your payment toward the principle it should be a crime. I paid approximately 6 thousand dollars of payments on a 50k loan for a year and my payoff amount a year later was less than 100 dollars from the original loan amount. Ridiculous and predatory lending at its finest. No “wrong doing” but if you have a choice to get money any where else I would. The above figures are estimates. But not exaggerated, Brutal and a “never again” for me.

My loan closed a month ago and I still…

My loan closed a month ago and I still don’t have my funds. Goat rodeo.

Best rates and great communications.

Professionalism

Professionalism. Each person understood their job, each person was knowledgeable of the process. Communication . I was fully aware of any and all conversation, emails and changes through out the entire process. Loan Depot surpassed my expectations.

Lower rate for fairly painless process

Brady was easy to work with, and overall the process was simple. My only disappointment was that we were told our PMI wouldn’t get higher and it tripled. It wasn’t caught until the day of closing so they basically said we either have to start over or just go with the expensive PMI. Our payment is still lower overall but could have been better. And then I never heard from Brady or anyone again after that.