Consumer complaint received 2022-02-02
Company: LD Holdings Group, LLC
State: VA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
I have a complaint concerning LoanDepot. Initially I was very excited and pleased with this company only to be intensely disappointed and upset now. A MAJOR FACTOR IN CHOOSING THIS COMPANY WAS THE PROMISE THAT I WOULD BE ABLE TO HAVE BI-WEEKLY PAYMENTS. The unreliable information and misinformation is unacceptable. 
My closing date was XX/XX/XXXX. It is now XX/XX/XXXX. I understood that my first payment was to be on XX/XX/XXXX and that after that initial first payment, the bi-weekly could be set up. XX/XX/XXXX email : " we absolutely can do bi-weekly payments. Ive heard that you just need to make one payment then can set up bi-monthly payments '', However, once I had received my paper bill in the mail and called the number to set this up accordingly, I was told that the bi-weekly option was " not available yet ''. Also, that I was speaking with the Texas branch which doesn't offer that option but that the New Jersey branch does... XXXX XXXX I requested : " I do ask that if the bi-monthly issues can not be resolved by the end of XXXX, that I be transferred to the New Jersey branch. '' Additionally, I was told via email on XX/XX/XXXX, that on XX/XX/XXXX that option would be available to me. To try again then. 
I called XX/XX/XXXX to have it set up as was promised upon this agreement. According to who I spoke with on the phone on the XXXX it would be in XXXX as the date was pushed ... ..again. 
At this point I was beginning to be disheartened. So on XX/XX/XXXX, I officially requested for my account to be transferred to the New Jersey Branch so my needs could be met. This request was also denied as I was again told new information. On XX/XX/XXXX the response was : " You've requested the transfer of your loan to New Jersey but, this is not an option. We are in the process of transferring all of New Jersey 's loans to our XXXX servicing center '' and to " Keep checking back ''. 
XX/XX/XXXX, I sent another email again expressing the continuing issues and asking for resolution. ( in attached emails ) The response came on XX/XX/XXXX, addressed to the wrong name no less, again denying any resolution. As follows : " Hello XXXX Customer Care received your concern on the Bi-weekly program. I truly apologize for any inconvenience this is causing you, however our servicing team is working on getting the Bi-weekly program set up properly so that no hic-ups are in place and once the customer has set up the program it runs smoothly. 
At this time, it is not available, and we will not have this ready for you come XXXX payment. 
Also, I have read that you request to have the loan transferred to the XXXX servicing center, we can not honor that request as that is interaction with investors and when loans are transferred to the servicing center they are transferred in bulk, not induvial. 
As you have already, please continue to bear with us on getting the bi-weekly program set up as we are attempting to achieve this ASAP. " To which I replied the same day : " First of all, my name is NOT XXXX. My NAME IS XXXX XXXX. XXXX XXXX is a member in your Department according the emails. 
Secondly, I didn't mention anything about the XXXX payment as I am fully aware that the full payment drew out today. My email read " XX/XX/XXXX ''. 
As you stated, I have already " bear-ed '' with this, for many months now. And as I already stated before, it was part of the agreement of my loan. I was led to believe, and told so, that it would be available in XXXX. Then it went to XX/XX/XXXX. And told that the XXXX branch does the biweekly. Then " maybe sometime in XXXX ''. I feel I have been very cooperative and patient about the entire ordeal. And while I respect that thorough work is being done to do the biweekly payments program, it is extremely frustrating. Not to mention a slight sense of betrayal where a firm trust had began to form. 
I sincerely hope that this issue is resolved quickly, prior to XX/XX/XXXX as I will hold to my word concerning the CFPB and XXXX. Thank you. 
Sincerely, XXXX XXXX '' So, today XX/XX/XXXX, I called LoanDepot in a last attempted hope that maybe the option was finally available. Much to my joy, it is! HOWEVER, as our relationship thus far proves, there were additional terms to meet and information that I was unaware of from the start. The lady I spoke with informed me that I would have to pay one month ahead! Today my mortgage drew out payment, now they requested an additional month 's pay. I was never made aware of this condition and stated that had I known about this I could have been more prepared and been saving the money to accomplish smooth transition. In my opinion 5 months is plenty enough time and patience. In emails I have sent ( which will be attached ) I have expressed my understanding as well as stating that I have been very patient. And while I acknowledge that there are struggles to transitioning departments, struggles with XXXX and staffing too, I expect their end of the deal to be met. Also, I acknowledge and respect that they were supposedly working out any " hiccups '' as was stated in an email. 5 months is a long time. 
I feel I have been very cooperative and patient about the entire ordeal. And while I respect that thorough work is being done to do the biweekly payments program, it is extremely frustrating. Not to mention a slight sense of betrayal where a firm trust had began to form.. LoanDepot will not work with me in any way to meet my current needs or the needs of the last 5 months that was promised upon signing. So now in order for me to have the promised bi-weekly payments, I will have to suffer more and for longer now with no foreseen resolution. I feel it is careless and somewhat even cruel. Definitely not living up to their punchline at the end of their emails " Customer service is our top priority : If you are not receiving exceptional customer service, or if you have any questions, please contact us at www.loandepot.com/about/contactus. ''

Company response to consumer: Closed with explanation