Consumer complaint received 2020-09-23
Company: LD Holdings Group, LLC
State: PA
Product: Mortgage
Sub-product: VA mortgage
Issue: Trouble during payment process

Complaint:
I secured a Load from Load Depot This XXXX/XXXX  and began making payments in XXXX. My ongoing issue is with the required Flood Insurance. During the process of securing this Loan the Lender was provided all the proper documentation to include the coverage amounts purchased, and based on those amounts the loan was approved. 
On XX/XX/XXXX I received the first of several letters. The letter stated that a recent review of the flood insurance coverage amount does not meet the minimum requirements and there is a gap of {$1800.00}. I purchased the new/additional required amount immediately and my agent faxed and emailed the new Declaration of coverage to their insurance department as instructed in the letter. 

On XX/XX/XXXX, I received another letter stating I still did not have enough coverage and the Lender will be purchasing a policy to cover the difference out of my escrow account if they did not receive the new declaration page ( which I already provided them weeks earlier ). I called once again, they assisted as I uploaded the documents to their website, and the representative XXXX said everything was now good. 
On XX/XX/XXXX, I received yet another letter stating my coverage amount was again not sufficient. This time my coverage had a gap of {$5800.00}, I immediately called again to find out how this could happen after I was just told this was handled. I purchased another {$6000.00} in coverage the same day, uploaded the documents, then called them and was again told that the problem was resolved. I asked for a Manager to call me ASAP and was told a problem ticket was created and a manager would call within 24hrs. I never received a call. 

The same day, XX/XX/XXXX, the Lender purchased a policy in my name and billed my escrow account {$62.00} and stated this would be billed monthly. 
On XX/XX/XXXX I received a letter thanking me for providing all the proper documentation. On XX/XX/XXXX I received yet another letter stating once again I did not have enough coverage, this time the amount of the gap was {$360.00}. Once again I called immediately. The Rep XXXX was completely confused and could not offer any explanation! She escalated the complaint to a Level 2, again stating I would receive a call from a supervisor within 24hrs. Once again, that did not happen. 
As you can see by the pattern created here The Lender just keeps erroneously increasing these amounts with NO explanation or reasoning. This loan was approved based on the coverages I purchased prior to their approval. THEY approved my coverage amounts and issued me the loan. This is either a major internal problem or a blatant case of illegal, fraudulent, predatory lending practices. Quite frankly, it looks like textbook " bait and switch '' sales tactics. My mortgage amount is now over {$100.00} more than agreed upon! There has still been NO explanation as to why this is happening, and I have YET to receive any contact from a manager, as promised. I filed a complaint with The XXXX XXXX XXXX on XX/XX/XXXX and I will continue to seek answers and file complaints until these practices are stopped and I receive refunds for these fraudulent increases. 

I would like to also mention that this is a VA loan. It is my understanding that the VA began cracking down on such practices against veteran 's with a bill ( that was passed into law ) back in 2018. I will be contacting them as well, but I am bringing this to your attention because it is WRONG and they need to be stopped. Whatever happened to " Truth in Lending '' and the right to transparency? I appreciate your attention to this matter.

Company response to consumer: Closed with explanation