Consumer complaint received 2018-08-04
Company: LD Holdings Group, LLC
State: MD
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
On XX/XX/2018 I went online looking for lenders to refinance my property, I was contacted on XX/XX/XXXX by XXXX XXXX from the company Loan Depot. We discussed the process and Mr XXXX kept asking me if he had my full commitment. He already had numbers and was very pushy throughout this very long phone call, I asked if I could continue to looking. Mr XXXX said of course I could however I would not find the same rates. They also said it would take 30 to 45 days for closing. I now know I should have do more research on Loan Depot and the refinancing process. mr XXXX told me that the values for property in my area was XXXX and I stated that property had sold in the area for over XXXX. We then insisted that I start the process to lock in the rate. Mr XXXX started emailing and calling me daily to get the proceeds moving. He gave to the loan amount of XXXX which was to payoff my existing mortgage, closing cost and cash out to me. I received documents via email and the amounts were different from what was originally quoted to me. I called asked about the amounts and was told there were not the correct amount and they would change at closing. I received paperwork via XXXX and was told to sign and send back, I was also told when I signed and sent back the paperwork that a appraisal would be ordered and I would pay the rep when he came to my home. I started receiving calls from XXXX XXXX in reference to getting my credit card number to pay for credit report I was not told that the fee for the appraisal would be debited from my account also. When I checked my bank statement I saw that my card was card the fees on XX/XX/XXXX for credit report and XX/XX/XXXX for appraisal fee that XXXX told me that I would pay when the person arrived to perform the appraisal. I told XXXX that my daughter would be the for the appraisal process. When the person left she called me and told me that he didnt appraise the property the same as the appraisal was done previously. She told me he walked through the house did not take pictures and asked about ground rent and left. I received a email of the appraisal and a email stating that the loan was denied because the property was appraised for let than the loan amount. I spoke with XXXX XXXX trying to get and understanding as to why and how the loan was denied, he told me the company does not do a loan lower than XXXX I told him that was not stated to me, and if it was I would not have started the process. He then told me that XXXX had an original loan amount of XXXX and I told him that amount was not discuss with me. I asked to speak with XXXX he was the loan originator he said he would have XXXX call me. Later that day I called back to speak with XXXX and XXXX XXXX told me that XXXX was know longer with the company and that he would have XXXX XXXX give me a call. XXXX sent me several emails URGENT CALL ME. I sent him email and told him that I was deceived by Loan Depot and I want my appraisal fee refunded. He has sent me several emails stating that I can not get my XXXX refunded because that was a third party company that did the appraisal. I do not believe the appraisal was done in my best interest, and I know it was not done correctly. During this process with Loan Depot I felt pushed, I was told that I signed documents online, I then stated to XXXX XXXX that when I went online to view the documents when I touched the screen it automatically signed the documents without me getting a chance to view them. He had no response when I stated that to him.

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