loanDepot Mortgage Refinance Review
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56 Customer Comments & Reviews - see all comments
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Founded in 2010, loanDepot is a national consumer lender and financial services company with headquarters in Southern California. The company matches borrowers and lenders through their online marketplace, helping customers find competitive mortgage rates and loans with ease. loanDepot currently operates in over 180 locations across the nation and is affiliated with over 1,700 licensed professionals.
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56 Customer Comments & Reviews
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this was the worst experience I've had with a lending company.
they promise something and take it away even though everything was approved. i started my processes in the middle of September and i pulled the plug in the middle on January for a simple refi. i wasted so mush time and money with these guys and. just to make sure i wasn't in the wrong i called my current lender and gave them the whole story plus the loan estimate and he said they do this all the time and would be happy to help, so im staying with them because there not shady and they care about you.
i would look far away from these guys if you can!
Loan Depot is by far the most incompetent lender I have ever dealt with. I started a refinance on Sept 9, 2019 with an appraisal that had been completed on July 2, 2019. The staff said we could use the appraisal because it was less than 120 days old. Loan Depot kept asking for more documentation of the appraisal even though they had all the paperwork. The appraisal expired and a new appraisal was conducted on Nov 27, 2019 and submitted to Loan Depot on Nov 30, 2019. I had serious doubts that the loan would close and I repeatedly told the staff that I should get a new lender due to the amount of time the refinance had already taken. Loan Depot kept asking for pay stubs, bank... Read More
Not sure how they have such a high rating with all the negative reviews. I’m adding one more. After a 5 month process (I was told it would only be 2 months) the loan was denied. I haven’t received a reason either verbally , email or snail mail. They haven’t returned my calls either. I have left messages with 3 people and finally Customerservice. My credit rating is well above 800 and my property assayed for well over the amount of money I wanted to borrow. From reading all the comments below maybe I have dodged a bullet. I had originally seen this company with adds stating they were #2 in the refi business well maybe not and if they continue down this path of no customer service they... Read More
This place it ridiculous. They want far more paperwork and stuff than an other lender I have ever dealt with. Between Loan Depot and the incompetence at MTH Mortgage you should avoid using them at all. With an 800+ credit score you would think it would be a simple process. But their "secure" online portal lost several documents to which they could not tell me where it went. It is a simple process for their system to verify if the upload succeeded or not and notify you accordingly. Their system says the documents uploaded but they can not "find" them which makes me think their system is written on old or bad code. Either way this place is a joke. really all they are trying to do is... Read More
Loan Depot ran my credit without my consent or knowledge, I have called and emailed multiple people, managers, no response.
I refinanced my home with LoanDepot twice. The first time went okay but this time, OMG within 30 days they sold my load to a horrible company Lakeview Loan Servicing. I would have never done business with this Lakeview Loan Servicing-they have 198 BBB complains, they have a ton of very bad reviews and LoanDepot just hands my load over to them and now I am stuck in a mess-this company has all kinds of hidden charges and fees if you want to pay online the fees vary from $10.00 on up depending on how you want to pay online. The only thing I can think of is that this Lakeview is only in business because they buy loans and have a lot of hidden fees and charges. Nobody who did any research on... Read More
Working with Hilcia at loan depot I found out they are incredibly greedy, understaffed. The loan officers putnumerous hours of overtime week in and week out. Each of the loan officers have hundreds of loans to work on. This tells you the level of service you receive, they’re more interested at working in bulk than providing you with a good customer experience . Our loan officer kept requesting the same documents to be sent over and over because she couldn’t find them on her email. She also one back and forth 3 times on the amount of the cashiers check needed at closing. She forgot to verify the public notary was scheduled to come to our house to do the closing at 6 PM on a Friday so we... Read More
HUGE waste of time and money! Worst experience ever with a mortgage application. I was promised for things that never happened. A most stressful time of my life. The day before closing the place a "hold" without even notify me. After 4 days wailing for an explanation they came with an Im sorry we cant continue with the loan because The County wont budge and classifies this as a CONDO so since FHA has not approved them we unfortunately cannot complete the loan. Really !! Didn't they knew from the beginning this was a Condo. And my actual loan is an FHA . Things happen for a reason and I think that God is keeping me away from this people.
Stay away
This was a HUGE waste of time and money! Loan Depot used probably the WORST and uneducated appraiser in the entire Gulf area! Executive Appraisers appraised my property $20,000 below market value and $10,000 below the 2018 appraised value. Values in this neighborhood are appreciating and I have made improvements in the past year! Totally incompetent hack of an appraiser and staff at Loan Depot. Don't walk away from Loan Depot...….RUN!!
Worst experience ever with a mortgage application. I was promised the ability for them to close in three weeks and it took them 6 weeks to close even though they had my taxes, pay stubs and 12 months of financial documents. A most stressful time of my life. I've gone through a couple of refinance before and this is the worst experience ever. Stay away