IRVINE, CALIFORNIA -- I have been dealing with Loandepot.com since May 18, 2012. My credit rating 880. We have little dept. we wanted to refinance at a lower rate. Sent in 498 dollars for good faith, this was not for home appraisals or flood insurance check as they claim. If the loan fails, they eat it.
So far they have been stalling, do not answer their-mails or phone calls for at-least a week or two then when they do there is a question about our finances. Seems like we fill out more paperwork and fax it to them, for one what is our mortgage on my e-mail address (what, can you explain?) and several other questions on companies we never did business with. Looking on the internet, we found a lot of complaints, which follow their script.
Ripoff.com and other sites - how these people got a AAA rating by L. A better BB is beyond me. We have done business with Quicken Loan, Lending Tree, Bank of America, Wells Fargo and never experience anything like this. I contacted American Express and they are contacting Loandepot.com on this matter. However people should know just what they are in for while doing business with this company.
My recent experience pursuing a mortgage refinance with Loan Depot has been very negative. After a very positive initial experience with friendly customer service, I was met with delay after delay in getting appraisals done and getting paperwork exchanged. In an attempt to dispute the appraisal after some pretty ridiculous results came back, Loan Depot just plain stopped responding to my phone calls and email inquiries for status.
When I finally contacted a supervisor, he was unhelpful, informed me that none of my concerns were legitimate and insisted that there was nothing else he could or would do. He also offered no apologies for the poor customer service of his staff. I've wasted 6 weeks of time and $495 on a bad appraisal and bad service. An offer of a partial refund of my deposit would have gone a long way to apologize for the run-around so both parties could just move on. Do yourself a favor and find another mortgage company to deal with, there are plenty out there to choose from.