Consumer complaint received 2020-01-30
Company: LD Holdings Group, LLC
State: CO
Product: Mortgage
Sub-product: FHA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
I just wanted to take a moment to let you know how much stress, anxiety and frustration the Loan Depot here in XXXX, CO caused me. Initially I reached out to Loan Depot in XX/XX/XXXX and was shuffled around and not communicated with in the process because I was seeking down payment assistance and was being passed around to all the wrong people. By mid XX/XX/XXXX I was finally directed to the right department. Things began moving along, they ran my credit, my score met the requirements for the FHA loan and the down payment assistance which was a XXXX mid score. I had gone through the PRE- APPROVAL ( not pre-qual ) process and was pre-approved for an FHA loan I got my initial pre approval for XXXX. I looked at several houses, made on offer on one that didn't get accepted. Later XXXX XXXX sent me another pre-approval because the home I was interested in was a City of XXXX Affordable house and they needed the pre-approval for the amount of that home. XXXX sent me the new pre-approval and we made an offer on the house I was interested in. A day or so later we went under contract on that home ( all the while I was in touch with XXXX letting him know my progress ). Then out of no where I get a call from XXXX saying that he's sorry they could not get me approved because of my credit. I thought this was amazing since that is all a part of the pre-approval process and he shouldn't have given me TWO pre-approvals by that time if I was not credit approved. I called XXXX, with my Agent ( XXXX XXXX ) on the line and had him explain to me the issue. XXXX questioned it as well and he proceeded to tell me that they couldn't get the approval to go through underwriting and with XXXX and XXXX. So in the middle of being under contract I " lost '' my pre-approval from Loan Depot. I was in tears at my daughters doctor 's office as I thought that I was going to loose out on the house and that my credit was not sufficient. Luckily for me my wonderful agent knew another Lender and recommended XXXX XXXX. I immediately called XXXX and within a day was able to obtain a pre-approval. They ran my credit and reviewed it with me and told me they have no idea why Loan Depot told me that. They didn't see any issues with my credit that would cause me to be denied. They sent me my pre-approval so that I could get it over to the City of XXXX right away because you can not be under contract without a pre -approval. I truly feel like I was discriminated against and there was something unsettling going on and I would like to take them to civil court for it. I can pinpoint the point in which I saw the change. Once XXXX with Loan Depot talked to the sellers agent, everything seemed to take and immediate quick turn. XXXX was supposed to be working on my behalf and he didnt. I do not know if someone else was interested in the property or what they discussed, but after they spoke with one another is when XXXX tells me I am not pre-approved even though he sent me two different pre-approvals. Needless to say I closed on my house XX/XX/XXXX with XXXX XXXX and I am grateful that they were able to take care of me with such short notice. I WOULD NEVER RECOMMEND LOAN DEPOT TO ANY FRIEND, FAMILY MEMBER OR OTHERWISE. BUYER BEWARE!!

Company response to consumer: Closed with explanation