Consumer complaint received 2017-11-10
Company: LD Holdings Group, LLC
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
We had a conventional loan with Loan Depot XXXX XXXX XXXX XXXX that had PMI included in our monthly payment. We sold our home and closed on XXXX XXXX. The payoff demand that Loan Depot sent escrow shows the pro rata amount for PMI of {$1000.00} which covers 2 months payments. Loan Depot said that PMI is paid each month to cover the previous month. So those two months of PMI in the payoff should cover XXXX and XXXX Paying off my PMI totally since as of XXXX XXXX the loan was paid in full and closed. 
On XXXX XXXX Loan Depot took out another month of PMI from my escrow impound account. 
Escrow closed XXXX XXXX XXXX ) and the money wire reached Loan Depot on XXXX XXXX. In their demand letter it states that if the payoff is not to them on or before XXXX XXXX that we are to add an additional {$47.00} per day to the payoff. 
As of XXXX XXXX, Loan depot had at that point received 3 months worth of PMI, even though I only owed 2 months at closing XXXX XXXX, XXXX XXXX. 
Then on XXXX XXXX, Loan Depot went into my impound account AFTER the loan had been closed and paid in full, and took ANOTHER month of PMI insurance ( {$500.00} ). Now they have 4 months worth of PMI payments when I only owed 2. 
On XXXX XXXX, I called, spoke to XXXX ; I explained everything and asked why this was and requested my refund. I was told that they charged a whole month because the wire did not hit until the XXXX of XXXX, even though the demand letter and/or any contracts do not state that. He said that he would put the request in. After speaking to him I called Fannie Mae ( who was not pleased to hear what was going on and told me who to call and that it can be escalated to level 2 supervisors if I can not get a resolution. I spoke to title and escrow, all who have never seen a lender do this to a loan. 
I called Loan Depot back again that same day and spoke to XXXX ; I asked for a supervisor due to the situation, and she said that she did see notes and would transfer me. Then she hung up on me. 
So I called back ( again ) and talked to XXXX and right away told her I needed a supervisor. She transferred me to XXXX and I again explained everything and included the fact that I have everything in writing. I gave her the dates and she said that the payoff they requested was not what was paid and that it was short, to which I replied that no- in fact they had received OVER what it should have been INCLUDING the {$47.00} for the extra day ( XXXX XXXX ). We went over the numbers so I could let her see it for herself. Then she said she did not see the other two PMI payments taken out, to which I replied with the exact dates and amounts taken out of my impound account. 
She asked me what I was looking to get, and I told her that I wanted my impound account balance disbursed back to me as well as the two extra months that they took out of my account ( one of which was taken after my loan was closed and paid ). She asked me to send a demand in writing via fax or email, which I did and that they would investigate it and research it with HUD and get back to me with their decision. I told her that was very irritating since it was their mistake and now I have to file a demand and wait to see if they approved it? Again, I have it all in writing. It even states in their demand letter that they will no disburse after the loan is paid in full, yet they still did it. This is a loan that was paid in full and closed, how can they go back and take over {$1000.00} more from

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation