Complaint Review: Loan Depot: Teresa Czapski & Ashley LeTellier - Scottsdale Arizona

I had an absolutely horrible experience working with Loan Depot.  I was purchasing a home.  After going through the entire loan application process and being extremely forthcoming, proactive, and transparent throughout the entire loan application process, I was given reassurance that everything looked great, that my loan had been officially approved, and that I was good to go and finished with the loan application process.  Then suddenly 4 days before my closing date on December 23rd while I was on a 3 hour drive to spend Christmas with family, I was ambushed by a surprise phone call from Teresa Czapski, my loan officer with Loan Depot.  She informed me that she absolutely needed me to go to a special website for employment verification ASAP and that my entire loan depends on it.  I pulled over on the side of the highway and asked for clarification.  She re-iterated that I absolutely was required to go to some special employment verification website and that no alternative measure was possible.  Even though I was very clear with them several weeks prior about whether there would have been anything I needed to do in addition to the information I provided during the loan process, I was previously reassured that I was 100% good to go.  Now suddenly a day and a half before Christmas Day, I was required to turn around and drive back to go to some special employment verification website!  To make matters worse, Teresa Czapski was COMPLETLELY UNABLE to give me the address of the website!  She said, "ASK AROUND!"  Are you kidding???

So I cut my Christmas vacation with my family short and come back two days earlier than I was scheduled to come back in an effort to go through further employment verification and this time, I speak with Teresa Czapski's supervisor, a loan manager named Ashley LeTellier.  After having just completed Loan Depot's mandatory/surprise employment verification procedures, I found a significant security flaw in these procedures.  Moreover, I expressed that from a borrower's perspective, after having supplied an abundance of pay stubs, IRS records, manager contact information, bank statements showing most recent transactions, and similar information, from the customer's perspective, it seems really outragoues and an unnecessary integrity check for Loan Depot to require the customer to follow even further employment verification steps.

When I expressed all of these details to Ashley LeTellier, she took a great deal of offense to what I was saying and she became argumentative.  She began interrupting me and not allowing me to complete my sentences.  I would pause and let her finish what she had to say, and then finally I would make my point that these are actually very unreasonable requests because of the amount of employment verification that Loan Depot already had about me.  This was making Ashley LeTellier even more frustrated.

In a fit of frustration, Ashley LeTellier confided that the real reason behind further employment verification was just to protect investors.  Ah finally--the truth!

With Loan Depot, they implement extremely unnecessary, poorly planned, excessive measures to verify that a borrower is who they say they are.  After thousands of pages of verification, for them to have come back and gone back to square one with fundamental employment verification requests, it makes borrowers feel as though they have absolutely no integrity whatsoever.  And in the end, it is all about the investors as Ashley LeTellier of Loan Depot confessed.  To make matters worse, I was being civil in our discussions and several times, Ashley LeTellier demonstrated horrible customer service by becoming argumentative and interrupting me.

Please take this feedback from a customer who WAS APPROVED FOR THE LOAN!  I have a flawless credit rating and I say:  Avoid Loan Depot.  Avoid Teresa Czapski & Ashley LeTellier!