Complaints
This profile includes complaints for LoanDepot's headquarters and its corporate-owned locations. To view all corporate locations, see
Customer Complaints Summary
- 425 total complaints in the last 3 years.
- 113 complaints closed in the last 12 months.
If you've experienced an issue
Submit a ComplaintThe complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.
Initial Complaint
Date:01/31/2023
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
My husband applied for a refinance loan on his home in Las Vegas, NV. He makes over $100K, has the tax returns, income and credit but was told that I needed to be a co-applicant on his loan. Loan Depot then tricked my husband into filing three applications with them and coercing me to co-apply for a cash out refinance. Loan Depot would open an application then close it in two weeks and open another one. This madness went on for over two months. Throughout this process Loan Depot pulled my credit over 10 times through a company called Credco. The cash out refinance was never approved. I had approximately 10 hard inquiries on my credit report dropping my score over 40 points on two credit bureaus and close to 50 on one credit bureau without my knowledge or approval. This is devastating for me because I am trying to purchase a homestead here in Texas and I am not likely to get approved now.
I contacted Loan Depot and all three credit bureaus requesting that the hard inquiries from Credco be removed. After being given the run around by the three credit bureaus and Loan Depot I decided to file as many complaints as I can to get my credit corrected. I consider Loan Depot a predatory lender and want them to be accountable for attempting to destroy my credit, denying my husband a cash-out refinance for no valid reason and discriminating against us after getting a copy of our driver's licenses and seeing that we are minorities.
Business Response
Date: 02/14/2023
Please see the attached document.Initial Complaint
Date:01/11/2023
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
My mortgage with LoanDepot has been an ongoing struggle. Now they keep charging me for an escrow account. I refused it from the beginning. I have given them proof of insurance 4 times now. They just don’t listen or acknowledge my proof. After sending them proof they sent me back an invoice for 4000. more.Initial Complaint
Date:01/09/2023
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I have filed all of the appropriate information regarding hazard insurance protection and submitted it to the link provided from their letter. My insurance is paid from them via escrow and my insurance agency has verified they have all of the appropriate contact info to verify coverage. My coverage is up to date and was paid by escrow from loandepot. They are now threatening to purchase insurance hazard protection because they were unable to verify due to their own negligence and incompetence.Business Response
Date: 01/24/2023
Pacific Southwest BBB Complaint #: ********
Borrower Name: ***** *****
Complaint Date: 01/11/2023
Borrower’s Complaint Filed with the BBB:
I have filed all of the appropriate information regarding hazard insurance protection and submitted it to the link provided from their letter. My insurance is paid from them via escrow and my insurance agency has verified they have all of the appropriate contact info to verify coverage. My coverage is up to date and was paid by escrow from loandepot. They are now threatening to purchase insurance hazard protection because they were unable to verify due to their own negligence and incompetence.
Borrower’s Desired Resolution:
Billing Adjustment
loanDepot Findings and Response
We appreciate the opportunity to address Mr. *****’s concerns.
On December 12, a fax request was made to Thompson Agency for the Condo Master Policy renewal. As the renewal was not received, on December 19, 2022, correspondence was mailed to Mr. *****, requesting a copy of the Condo Master Hazard insurance policy as we had been unsuccessful in obtaining a renewal or replacement policy. On January 3, 2023, a second notice was mailed to Mr. ***** as the renewal or replacement Condo Master Hazard insurance policy had not been received.
On January 3, 2023, we received a policy summary for policy number *********. The policy did not list a mortgagee clause, therefore on January 4, 2023, we mailed Mr. ***** a notice advising to provide the policy declaration page or a copy of the policy showing the updated mortgagee/lender loss payee clause. On January 10, 2023, we received copy of the homeowner’s declaration page for Progressive Insurance policy number ********* with a policy period from May 1, 2022 to May 1, 2023, however, our request was for the Condo Master Policy and not the Homeowners Hazard Insurance Policy. The Condo Master Policy is the policy held by Mr. *****’s condominium association versus the Homeowners Hazard Insurance policy in which is an individual policy purchased by Mr. *****.
On January 13, 2023, an email was sent to ******** ****** for the Condo Master Policy renewal and on the same date we were able to obtain the renewal policy. On January 19, 2023, we have confirmed our system has been updated with the Condo Master Hazard insurance policy renewal.
Should he have any further questions, Mr. ***** is welcome to contact loanDepot’s Customer Escalations Department at 877-777-5970.
Initial Complaint
Date:12/27/2022
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I have contacted them several times and we made another payment by accident after the escrow had transferred. They owe us $6948.48.Business Response
Date: 01/12/2023
Response is attachedCustomer Answer
Date: 01/12/2023
Have not received paymentBusiness Response
Date: 01/18/2023
Hello,
Please review attach response.
Thank you,
Initial Complaint
Date:10/20/2022
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
Was told i needed $495 appraisal fee to lock in a loan so I did then they sent me a very ignorant racist appraiser who told lies in her appraisal of my home and had my value come in lower to the point that loan depot denied my loan. I went to a different agency for a loan and they reached out for a copy of the appraisal and am now being told i owe another $125 that they never disclosed to me. Very unhappy customer. Prevented me from not only 1 loan but likely 2 different loans, and since I'm under FHA guidelines the appraisal holds for 6months and i can not even have a new fair appraisal done. The original agent after finding out my appraisal was under 100,000 would no longer communicate with me either, wouldnt respond to email, wouldnt answer phone calls, nothing which is what made me go elsewhere to begin with.Business Response
Date: 10/24/2022
Please see the attached document.Initial Complaint
Date:10/19/2022
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
On Sept 07, I had an informational phone call with Loan depot in regards to their mortgage financing options and offerings. During the call, they asked me for permission to run my credit history which I declined verbally with the words "Please do not run my credit". The agent on the phone acknowledged. On the same day minutes after the call I get a notification that they have pulled my credit against my wish.
I have been reaching out to them since September 7 to the date of this complaint over phone and email but they stopped responding.Business Response
Date: 10/25/2022
PLEASE SEE ATTACHED.Customer Answer
Date: 10/28/2022
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution would be satisfactory to me. I will wait for the business to perform this action and, if it does, will consider this complaint resolved.
Regards,
***** *******
Initial Complaint
Date:10/13/2022
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I wanted to explore interest rates and filled out the form online. I have been getting blank voicemail calls from them dozens of times a day each day. my phone doesn't ring I just get a blank 30 second voicemail over and over and over and over. this is insane harassment.Business Response
Date: 10/19/2022
Please see the attached document.Initial Complaint
Date:10/11/2022
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
Lian Depot charge me for an appraiser of my home without knowing if I qualify for lian and bow they do not want to reimburse the money $600.00Business Response
Date: 10/13/2022
Please see the attached document.Initial Complaint
Date:10/05/2022
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I hate I even heard of Loan De I was recently in the process of buying a home a was shopping rates. I had a very kind gentlemen reach out to me and earned my attention with Loan Depot. I had done business with them in the past, so they were worth a look being that I was a repeat client. Well, I regret the day I picked up that phone. I was at the end process of closing and had a contract in hand and was looking at rates and was told that they could beat the rate and would even offer a repeat client credit. This was all a bunch of BULL. They beat the rate by charging me 3 points to do so when the other lender was nowhere near charging me points of this nature. Then they went in and ordered my VA file without telling me in some electronic files that I filled out to get some rates/disclosures. Lies again. I was then blindside by my other lender asking how this happen why wasn't I called saying that they released by Certificate of Eligibility from the VA I was then told that the other company LOAN DEPOT THREATENED them in doing so. It'll made s they use unfair practices to gain business. After I found out I immediately asked that the loan process be STOPPED, and my loan files be sent back over to my primary lender. How dare Loan Depot. I also sent in a letter to their corporate office and asked that my Virginia loan be sold off to another company ASAP. I do not want anything to do with loan depot or their employ unethical tactics in gaining clients and I want no pa of them doing business with me as a consumer or my loan. I want my loan sold off and I want no further contact or interaction with loan depot. I have always spoken highly of them, but this is the one time, I'm sure of many that this company will be using unsafe tactics to get money and business from other companies and veterans that are just trying to do the right thing and live the right way. Disheartening to hear another lender speak poorly of practices of this company. Request to have MY LN ********** *OLDBusiness Response
Date: 10/19/2022
PLEASE SEE ATTACHED.Initial Complaint
Date:10/05/2022
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I started a loan with Loan depot I was asked to pay for my appraisal upfront. I was charged 495. I decided to go with a different lender and asked Loand Depot to transfer my appraisal that belongs to me because I paid for it up front. I was told that all I had to do was fill out paperwork, did that no transfer made, was told that my new lender has to request did that. After a number of calls was given different email to request transfer. Then loandepot send my new lender a letter stating that I need to pay 100 more dollars to get my appraisal and to send another letter. They have cost me to extend my loan application with the new lender and now I pushed back again and I have order another appraisal just to close with my new lender.Business Response
Date: 10/11/2022
Please see the attached document.
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