LoanDepot Misleading information of interest rate offer of loan to continue further business. Foothill Ranch, California
The agreement was I would be charged a 250 dollar application fee based on a locked in rate of 3.5 for a mortgage loan refinance. I placed another application process from another company on hold due to this better quote.
I was told that this fee would be refunded if another company could offer a better deal. I was charged the 250 dollar fee the same day I was sent a revised GFE (Good Faith Estimate) with a different rate (4.25%) than what was originally quoted. It was also too late in the day on a Saturday to do anything. I feel this was unethical on the part of Loan depot.
Original Good faith estimate on 03/01/13 quoted 3.75% which matched another company. At that time I was told loan Depot could beat that rate with a 3.5%. I then agreed to pursue that rate. After that I received the Revised GFE #100168898Seel