Consumer complaint received 2020-02-18
Company: LD Holdings Group, LLC
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
On XX/XX/XXXX I closed a mortgage loan for a new purchase with Loan Depot, loan # XXXX, and began making mortgage payments to Loan Depot ( XX/XX/XXXX payment ). 

In mid-XX/XX/XXXX I received notification from Lon Depot dated XX/XX/XXXX that my loan was being transferred to XXXX XXXX XXXX effective XX/XX/XXXX and that payments should be made to XXXX XXXX effective XX/XX/XXXX ( starting with my XX/XX/XXXX payment ) ( Attachment A ). A few days later I received a notice of assignment dated XX/XX/XXXX indicating that my loan was transferred to XXXX  XXXX XXXX ( Attachment B ). As this did not provide any additional information or payment instruction this notice was set aside and assumed that XXXX XXXX  XXXX may be servicing the loan on behalf of XXXX  XXXX XXXX. 

On the morning of XX/XX/XXXX an electronic payment of {$3000.00} was made from my checking account at XXXX XXXX XXXX  XXXX to XXXX XXXX XXXX ( Attachment C ). On the evening of XX/XX/XXXX I received notification from Loan Depot dated XX/XX/XXXX that the notification of transfer was made in error, and that my payments should be made to XXXX XXXX  effective XX/XX/XXXX. The notice does not specifically state where the XXXX mortgage payment ( already sent to XXXX ) should go ( Attachment D ). 

I have contacted Loan Depot regarding the issue, and have been told that I must work with my bank to stop the payment ( which already went out ) and/or must work with XXXX XXXX  to track down my payment and have it sent back to me. Loan Depot has offered no assistance in the matter, even though they created the issue. In fact on XX/XX/XXXX I received a call from Loan Depot looking for a XXXX mortgage payment even though I had already had several conversations with them about the issue and where my payment went ( at their direction ). Upon calling Loan Depot back I was informed that a XXXX payment is actually due to XXXX XXXX, a third financial institution, and not to Loan Depot. 

I have contact XXXX  XXXX XXXX  who confirmed that the payment was made, and who provided Credit Trace # XXXX and File Trace # XXXX which they said XXXX XXXX  should be able to use to track down the payment and return the funds. 

I have contacted XXXX XXXX  XXXX several times by telephone, and was directed to send all of my information to an email address provided by one of the agents. On XX/XX/XXXX I emailed the issue, the credit trace number, file trace number, a copy of the payment confirmation from XXXX XXXX XXXX, and a copy of the transfer notice from Loan Depot. I have heard nothing back from XXXX XXXX   XXXX. On XX/XX/XXXX I contacted XXXX XXXX  XXXX again by Telephone to see if I might obtain information or an update related to the emailed information. The agent at XXXX XXXX   XXXX could not fine any information related to me, my mortgage, or the issue, which is consistent with other conversations that I have had with representatives at XXXX ( they have no idea who I am or how to help me ). The only advice that was provided was to just wait and hope that the clearinghouse eventually sent the money back because they didnt know where it belonged. 

At this point I am quite frustrated with both Loan Depot and XXXX XXXX  XXXX, neither of whom seen to know how to remedy the situation. 
I have spent hours trying to resolve this issue that was created by Loan Depot, and thus far appear to have made no progress. The agents themselves have been friendly in searching for suggestions, but seem ill equipped to help with this situation. To be honest with as many mortgage loans that I have had over the years, many of them transferred, this is a first for me too. Any assistance that you may provide would be greatly appreciated. 

Thank you, XXXX XXXX XXXX ( XXXX ) XXXX

Company response to consumer: Closed with explanation