Consumer complaint received 2021-05-12
Company: LD Holdings Group, LLC
State: MO
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
XXXX XX/XX/2021 I was contacted by Loan Depot for a residential home refinance. I had been in contact with many other loan companies due to the circumstances of my employment situation. I worked for a company for 9 years and I ended up purchasing that business in XXXX of the current year. I have an LLC so im not on my companies payroll. I told my loan representative ( XXXX XXXX ) my situation and he assured me that there would be no issue with this loan, as long as I could present a profit/loss statement upon request. Therefore, I proceeded with the application while constantly reminding him of my situation. When contacted by the Sr. Account Manager XXXX XXXX XXXX XXXX I was asked for multiple personal items such as : personal bank statements, W2s, business bank statements, profit/loss statement, personal identification, etc. I provided all information, but he asked a few times for business tax forms from the previous two years, which I had none due to this being my first year in business. I believe there was a mix up on their end due to being asked multiple times for those tax files. I was then contacted again by XXXX to clarify the situation which I told him the same that we had talked about before. Everything seemed to be going on the right track. I was charged {$500.00} for an appraisal which I did receive while still believing there would be no issues with the loan due to all of the information I had sent in and my credit score which was upwards of XXXX. On XX/XX/XXXX, I received an email stating that I had been denied a loan due to my length of employment. I quickly contacted XXXX and we spoke about getting this taken care of. He reminded me that he would work with the underwriters to let them know my situation and it would all be taken care of. I was also given the number to someone higher than he with the company and I was told to contact him in regards to what was going on. I called him XXXX XXXX XXXX XXXX three times that week and left voicemails, and have also reached out and left messages two additional times with zero response. I asked XXXX about it and he said that he had personally contacted him and that he was going to give me a call the same evening we had talked. It has been a week and I have still yet to have a phone call from them regarding this even after still reaching out through phone calls and text messages which I was told to text because it would get the messages quicker. I am very unsatisfied with my customer service and I feel that I was led on to continue with the loan application while all along knowing that I wasnt going to be qualified. I they had told me upfront that they needed the business taxes for the past two years, I would have stopped the process immediately. I am now out {$500.00} and my credit score has been affected due to false information given to me. I feel like if this has happened to me, who knows how many others this has happened to and a business can not continue to make false promises to customers. Also, I wonder if the company has some sort of kickback with the appraisal company because its kind of strange to me how after the appraisal they just sort of quit working on my file. If they are just doing this to get appraisals and money for them and then denying the loans. I have great credit and my business is thriving and I just wanted to take advantage of a better interest rate and a shorter term. I don't think they company ever really intended on refinancing my loan.

Company response to consumer: Closed with monetary relief