- Report: #657212
Complaint Review: loandepot.com - irvine California
Reported By:
jord3t -
los angeles, California, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
loandepot.com
3355 Michelson Drive, Suite #300 irvine, 92612-0684 California, United States of America
Phone:
1-888-337-6888
Web:
loandepot.com
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
loandepot.com matthew gilday loandepot.com screwed me over and left me hanging irvine, California
They ripped me off. I was assured that I would get a refund if the loan didn't go through. all through the process they reassured me that it was practically a done deal.
I increased the insurance on my house, faxed in many many pages of documentation.
I ended up spending over $1000.00 to get everything up to par for their requirements, and in the end when it didn't work out (the reason was I work for a technology placement firm so my job is classified as temp work)
They left me hanging. their website says they return your message within 24 hrs. It's been over a week. I'm not holding my breath.
They also changed their tune on the refund.
I increased the insurance on my house, faxed in many many pages of documentation.
I ended up spending over $1000.00 to get everything up to par for their requirements, and in the end when it didn't work out (the reason was I work for a technology placement firm so my job is classified as temp work)
They left me hanging. their website says they return your message within 24 hrs. It's been over a week. I'm not holding my breath.
They also changed their tune on the refund.
4 Updates & Rebuttals
Bill Ryan
Peoria,Arizona,
United States of America
$495 refundable deposit
#2Consumer Comment
Mon, May 07, 2012
I too was told the deposit was refundable. The sales people called it an "appraisal" fee or deposit. Another poster remarks that people should grow up. Why doesn't LoanDepot put non-refundable $495 appraisal fee as an acceptance box/agreement directly below our names when we first contact via internet application. Likely, we would just walk away. FYI, as soon as they take your credit card number over the phone they lock the rate.
jord3t
los angeles,California,
United States of America
Cooler heads have prevailed
#3Author of original report
Thu, November 18, 2010
first, I did not intend to mention specific names, but the way you submit a report asks for names of people I spoke with. I did not know it would show up in the header of the report. I apologize for that.
I think the problem was a lack of communication, because I was contacted by someone from loandepot.com after this online feud and we resolved our differences. I understand their perspective and they see my point of view.
I also see that there are a lot of good reviews for the company so I am assuming that my experience was not the norm.
I know loandepot lost probably more money during this failed process than I did, but they still refunded my money.
I appreciate that and respect them for the way they handled the situation.
jord3t
los angeles,California,
United States of America
I stand by my original report
#4Author of original report
Wed, November 17, 2010
that is a bunch of garbage.
I am still waiting for the rest my refund that they said they would send me.
I did NOT hide the fact that my job was temporary, (it's not temp work, it's contracting on a 6 month to hire. I am in the process of getting a full time position)
they changed the lender name on my insurance policy and I had to increase my premiums before the loan was approved. they also were very reassuring that the loan would be approved.
the whole story is It cost me a lot of time and money for a raw deal.
when I spoke to them on the phone they apologized to me and had NO rebuttals for any of my complaints.
I asked them to send me the audio recordings of my phone calls, but at that point they said they would refund my $495.
they refunded me $95 and in their e-mail response to me after i told them they only refunded me $95, they sent me a screenshot of their accounting system transaction record. it proved me correct, but the person writing the accompanying e-mail wrote that my $495 was refunded and the screenshot was to prove it.
I'm actually glad the loan was not approved because I wouldn't want to deal with loandepot.com for the duration of my mortgage payments.
I would LOVE to post the transcripts of the phone calls, but apparently they don't want to give them to me.
Report Attachments
Peter Macdonald
Irvine,California,
United States of America
The WHOLE story is somewhat different...
#5UPDATE Employee
Wed, November 17, 2010
The accusation is incorrect and certainly does not explain the entire story.
As a responsible lender, calls are recorded and monitored to ensure excellent service. A review of these calls indicate that the client failed to inform loanDepot he was NOT a permanent employee but, in fact, he was only a TEMPORARY employee. This was a crucial fact that he omitted (possibly intentionally) and is absolutely germane to loan approval.
This client was exceptionally aggressive and tough for the staff to deal with. He even apologized to them for his demeanor on several occasions after blowing up and verbally accosting them.
He requested for a refund of his fee (even though loanDepot spent hundreds of dollars on his file and out-side costs). This Request was escalated to a Customer Service Department. As a customer concession we GAVE him his money back. Yes... He got his money back.
We have acted responsibly and with very good intent in the face of his aggressive tactics and demeaning behavior. If he was honest with his employment status it would have saved himself time and us money. Further, inspite of us refunding him money, he files disparaging comments about out company. Some people you can never please and will never take responibility for their own actions.
We wish him well in his efforts to secure a loan with another investor or lender and advise him to FULLY disclose all issue pertaining to his personal financial situation to ensure that he is given accurate underwriting results.
