Consumer complaint received 2016-12-13
Company: LD Holdings Group, LLC
State: CA
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Application, originator, mortgage broker

Complaint:
Ref : Loan Depot LLC. Loan # XXXX I applied for a loan through Loan Depot LLC. located at XXXX XXXX XXXX XXXX, XXXX XXXX, CA XXXX. On XX/XX/2016, XXXX XXXX XXXX, Senior Mortgage Banker took the application info. over the phone and charged my wife 's credit card {$420.00} for the appraisal fees. He said he locked the rate at 3.625 %, XXXX cost and Appraisal fees will be credited. I provided all requested documents including Tax docs, pay stubs, bank statements etc ... within couple of days and sent electronically to XXXX XXXX. I received the welcome package and signed all loan documents electronically including the lock rate agreement dated XX/XX/XXXX ( back dated 2 days prior to date I first contacted XXXX XXXX ). The XXXX XXXX agreement was good for 45 days, at rate of 3.625 at XXXX cost, loan amount $ XXXX. A lack of timely responses from XXXX in regards to my emails and phone calls prompted me to contact XXXX XXXX XXXX who was XXXX XXXX 's supervisor, to get an update on the status of my loan. Then, I finally heard back from XXXX, however he went silent for over a week again -- I finally decided to drive over to Loan Depot 's office with XXXX XXXX ( who had referred me to XXXX also his client ). After waiting for long time in the receptionist area we were able to speak to XXXX. I expressed my concerns and asked him about the deadline for lock agreement which be on XX/XX/2016, he assured me not to worry ; he said he loan will be funded prior to expiration and if we he did n't meet the deadline, he would " re-lock it before the deadline. '' I received an email from XXXX XXXX at Loan Depot, with attached copy of the appraisal repot, XX/XX/2016. 
Then on XX/XX/XXXX received a new email from XXXX XXXX XXXX with new Rate Lock agreement Interst rate : 3.625 and {$12000.00} cost out of my pocket! 
I tied to contact XXXX XXXX at his office several times and left messages he didnt respond. I sent him and email and asked for explanations and he responded back that will get back to me. 
I received an email from XXXX XXXX XXXX and he on XX/XX/2016, and he indicated ; " Nothing can be done restoring the pricing of your loan. Then he sent me a new offer for Rate Lock agreement, Rate : 4.1 % no cost and 3.625 % with my cost of {$15000.00}. '' This is so unfair!! I had the opportunity to have loan rate of 3.625 and XXXX cost with another institution, however I decided to pursue my house refi as I valued the integrity of Loan Depot and they made me feel as if I am in good hands. There was plenty of time for them to close the loan. I provided all needed document requested by XXXX XXXX within a few days of the rate lock. If I was aware that there is a hesitation to deliver the loan to the end, I would have had the chance to exercise other options while the rates were low. 
I went to Loan Depot Office on XX/XX/2016, and asked for XXXX XXXX XXXX, but he was not available, after lon waiting, I amnaged to meet with XXXX XXXX XXXX. 
I told him please put yourself in my shoes, If this loan does not go through with the same terms as promised and agreed, there will be a big financial loss and hardship on my family. He promised me to bring this situation to upper management and I honor me the original rate as was agreed upon in the contract documents that were signed by my wife and I. 


I urge CFPB to help me and have the Loan Depot LLC., to honor me the loan rates that I was offered and signed for and deserve. 

Thank you, Best Regards, XXXX XXXX

Company public response: Company believes complaint is the result of an isolated error
Company response to consumer: Closed with explanation