Consumer complaint received 2018-05-21
Company: LD Holdings Group, LLC
State: FL
Product: Mortgage
Sub-product: VA mortgage
Issue: Trouble during payment process

Complaint:
On XX/XX/XXXX, I inquired with XXXX XXXX XXXX XXXX ( LoanDepot ) in regards to assistance with our home loan due to the Designation of Florida as a federal disaster. I was aware that there were to be no late penalties or negative credit reporting to the credit bureaus. Document # 1 is a copy of this initial inquiry dated theXX/XX/XXXX. As of the XX/XX/XXXX I sent another inquiry as to when someone might respond Document # 2. 

Document # 3 was dated the XX/XX/XXXX and simply gave a brief description of answers to General questions about Hurricane Irma. It explained the forbearance plan as the suspension of the payments for a minimum of three months, and the only requirement to be qualified for this plan was to reply yes-Irma to this particular email. Page 2 of the email explains the fact that the suspended payments are not being forgiven, but will need to be repaid through and approved repayment plan or another available loss mitigation workout option. It further stated that near the end of the plan period the status of the plan would be reassessed and used to determine any further workout options. I was advised that we would be making payments fromXX/XX/XXXX through XX/XX/XXXX in the amount of {$960.00} as a trial period. At the end of that period, we would receive loan documents to repay the suspended payments, The payments made were placed in a suspense account, The end ofXX/XX/XXXX came and we had not received any modification documents. I paid the XX/XX/XXXXpayment of {$960.00} and received a receipt for the payment on XX/XX/XXXX Document # 5. Document # 4 is an email in reference to my further inquiry about loan modification documents that I was told we needed to sign and return that had yet to arrive, I requested the documents so that we could review the terms of the modification since no one had bothered to call and discuss these matters with me at any time. I was supposed to accept the modification without discussion or questions I assume. 

On XX/XX/XXXX, I applied for a refinance loan with cash out so that we could do some home improvements. Our loan officer XXXX XXXX was advised from the start of the situation with the forbearance etc, Document # 7. On the XXXX, I received an email from Loan Depot stating that our loan had been reported past due 60 days to the credit reporting bureaus, but they had taken action to correct the issue and that it would take a minimum of 30 days to correct this inadvertent reporting of our account. 
Document # 6. 

On XX/XX/XXXX, I put down a deposit on my credit card for the VA Appraisal and also paid a fee of {$19.00} for a credit report. Document # 8 On XX/XX/XXXX I received an email that advised that my deposit of {$490.00} for the appraisal for the refinance had been refunded with no explanation. Document # 9. 
XXXX XXXX my loan officer was not aware of this action. 

Document # 10 is a copy of the next steps email I received after making the application and needed documents in order to proceed with the loan, These items were supplied with satisfaction to XXXX XXXX, On XX/XX/XXXX, we received notification of our loan estimate documents being ready on the document portal with Loan Depot, Documents 11 & 12. 

XX/XX/XXXXwe are advised via email that our loan is now in XXXX XXXX and that the appraisal had been ordered. THe appraisal was completed on XX/XX/XXXX. It appeared that we were moving forward to approval of our refinance loan, But then red flags began appearing # 1 Loan depot showed two open loans on the home on credit, then the inadvertent delinquency report for late payments popped up. I filed my XXXX taxes late due to the federal disaster extension and also requested an extension to my XXXX tax return. XX/XX/XXXX I was advised that my loan for refinancing was denied, I felt it was a direct result of the negative reporting etc. I was told that there was a lien on my property from IRS which is not true and that we were, five months delinquent. The next conversation with a CSR would be that we were four months delinquent then three months delinquent. Even though we were making payments as agreed to in the forbearance, because I had not returned the modification signed or made an effort to repay the suspended payments, the foreclosure team was now reviewing my file after the refinance was squashed Document # 13. 

To further confuse the issues, I received notice of disclosures on the secure portal for review concerning the refinance loan. Dated XX/XX/XXXX Documents 14 & 15. 

On XX/XX/XXXX, I contacted Loan Depot and talked with a collections unit service Rep. I was advised that my loan was being reviewed for foreclosure since I was delinquent four months, I objected because I had a receipt fromXX/XX/XXXX stating that I was only three months ( the three months the loan was in forbearance ) due. SInce we were diligently trying to get answers so that we could make intelligent choices, we had not taken the modification plan which raised my interest and increased my payments for the life of the loan, I didn't feel this was an informed decision since I had not been given the facts and figures of all of my options available to me to make a repayment decision, As a result of this pressure to avoid foreclosure, I agreed to a repayment plan with an outrageous down payment of {$1200.00} Document # 16 to be paid by XX/XX/XXXX and payments over the course of the next three months to repay the suspended payments, The problem that we have is that there is over {$1300.00} in this " suspense '' account that they are not applying to the past due amount. We were advised by a CSR this past week that we should only have to come up with a down payment of less than our former monthly payment of {$870.00} and that we would not be over extended in the repayment process, The next CSR said that this was not true. Document 16 is copy from Loan Depot site that shows the repayment plan and proposed payments, Document 17 is a copy of the payment history in my account at Loan Depot, It shows that we have made all payments as agreed to in the trial period extending out to the XX/XX/XXXXpayment as well. It also includes the payments made prior to the forbearance fiasco we are involved in today, Documents 18 A & B are the modification documents that were sent to us, but did not include a final payment to include the escrow etc. I requested an itemized accounting of where the funds have been applied from our payments and also requested a system maintenance to make sure that all funds have been accounted for, My wife was advised that this would be done after the payments were made, I am concerned that this practice may cause us to have to go through a further hardship to repay the three months of payments by being made to make payments that are higher than need be if the calculations were done prior to the payments being made.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with non-monetary relief