Complaint Review: LoanDepot - other New Jersey

Obtained loan for only 50% of value of home.

Starting out I had a great loan officer who answered all questions and agreed to have escrow removed from Loan as I never intended to have an impound account! My first flood policy I had issued through my agent and premium was 2138.00 per year! In July 2016 all insurance companies were sent info from FEMA indicating homes in our zoning were to be discounted and my premium went down by 1463.00 LoanDepot on 2 occasions said they did not receive policy from company even though sent 3 times, & emailed to loan officer —- not knowing he’d retired and never notiffyed me! They issued policy for me using past premium amount not following FEMA instructions to reduce. — Obtained loan October 2015, title sent money charged at closing for property taxes due in March 2016— they removed this amount before sending statement and then charged me again out of payments I’d been making up to March 2016 when PT due so I paid twice!

This of course made me start becoming short on escrow— they raised my payments twice from 1683.00 to 1723, then to 1864.00 I refused to raise past the 1723 due to them owing me money! They started issuing me checks after depositing my payments thinking I would cash. They wanted me to issue another check for raised amount — I sent all checks back — then in oct 2017, after sending 5 pkgs to 5 different address of theirs with all emails , spread sheet showing all accounting and indicating they took money from beginning they said they were correcting. All the did was take off the 5 late fees and inspection charges and send me a check for 4500.00 they owed me — come to find out— they only deducted the 4500 from my escrow account , they now are saying I’m not making payments, sending checks again starting all over again what they just corrected I figured out how much I owe to the penny , sent all check they issued back and a cashiers check for final payment I’m now trying to sell home. If they do not release my loan from this house so I can sell it I will remove from market and call my attorney — when I’m finished they will be paying for my home !! I am so pissed off!!

They have cost me time and money and I believe they are doing this to many many people !! I’m a retired accountant so I know what they have done and it’s a mess!! A 10 year old could do a better job adding and deducting amounts. Watch every penny because they just add and deduct amounts with no explanation You will have a balance on escrow of 2700.00 one min and the next 500 and all it will say is adjustment ! No explanations ! Now I just received a class action suit against them for charging high premiums for flood ins to customers and getting a kickback —. That’s what they did to me! I feel sorry for anyone getting Loan from these people ! I know they are doing these things on purpose because of my continued info I’ve sent them they have ignored. I have been on them , saving every name , email , message so I have 2 binders full of letters. 3 " binders —- I’m sick of them and want them to also correct my Credit as they said I was late on 3 months. I have proof of never once being late! Haha. It will never get corrected I’m sure! Good luck to anyone using them! They are thieves!