Product: Mortgage

In early 2020, I refinanced my mortgage with LoanDepot. It was a quick, easy process, that was completed within a matter of weeks. In XX/XX/2020, after mortgage rates had continued to fall, I returned to LoanDepot to explore another refinancing. We quickly agreed in XX/XX/2020 to a 30 year fixed rate at 2.65 % with underwriting costs of {$1500.00} and lenders credits of {$5200.00}. Given that I had just refinanced with LoanDepot, I expected another quick completion of the underwriting process and a closing of the process within a matter of weeks. However, LoanDepot stopped started to be unresponsive to my inquiries. Over the course of XXXX, I sent multiple emails about the closing of my application XXXX Exhibit 1. ) On XX/XX/XXXX, I sent a another email to XXXX XXXX about the status of my application XXXX Exhibit 2 ). I addressed any outstanding questions immediately ( Exhibit 3 ). In my opinion, it become increasingly clear that LoanDepot was trying to delay this process. Finally, my email to my lending officer in late XXXX was not answered ( Exhibit 4 ). Not until mid XXXX did I hear back from LoanDepot. XXXX XXXX XXXX XXXX # XXXX ) introduced herself as my new Lending Officer because XXXX XXXX had been let go. She said she would work expeditiously with the new loan processor, XXXX XXXX, towards the closing of my refinancing. As before, I quickly submitted all of the additional information that was requested ( Exhibit 5 ). During this time in late XXXX, I noticed an effort to reduce the terms of my mortgage. LoanDepot demanded a lender credit of only around {$3500.00} XXXX from {$5200.00} XXXX and an additional home appraisal ( at a higher cost. ) Following the home appraisal, which assessed an increase in my home value of almost 25 %, XXXX XXXX called me and said that closing costs would have to increase by {$7000.00} because my home was assessed as a multi family home now. During this phone call, XXXX pressured me to cancel the application. At this point, it became clear to me that LoanDepot was trying to get out of this mortgage because rates had risen. XXXX used deception and pressure to either increase the cost of my mortgage or cause me to cancel the application. I told XXXX that it appeared to me that she was negotiating in bad faith and that I wanted to work with her supervisor. As such, my application was escalated to her supervisor, XXXX XXXX XXXX XXXX # XXXX XXXX, on XX/XX/XXXX XXXX Exhibit 6 ). XXXX called me shortly thereafter and said that the appraisal should be easy to correct. However, about two weeks later, he said that the county had changed the classification of the unit to a multi-unit home and so there was nothing he could do but offer the mortgage with the higher closing costs of approximately {$7000.00}. I had reached out to the city of DC  who assured me that their tax classification should have no bearing on the appraisal for mortgage purposes. In addition, I reached out to friends in the mortgage industry who told me that LoanDepot 's request is deceptive. Like XXXX before, XXXX tried to change the terms of mortgage and advanced incorrect information for their negotiation in bad faith. In the circumstances of my mortgage XXXX primary residence, prime credit, extremely low loan-to-value ), a change from single to multi-family unit has no bearing on underwriting or credit rates. This is where I stand today ( also Exhibit 6. )