Consumer complaint received 2019-10-18
Company: LD Holdings Group, LLC
State: NC
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
I just has worst experience of my life for refinance to go with Loan depot.I learned how you guys will offer low rate and higher lender credit initially to make sure other lenders can't compete it. Once applicant is sign the document and pays for rate lock all fun begins. I did my rate lock on XX/XX/XXXX with 2.875 % rate and lender credit of {$2400.00}. At the time of rate lock I informed the loan office that I want to only escrow my property taxes and don't want to escrow insurance and also confirmed over the call the rate lock is for 60 days even though Loan estimate says it is for 45 days. if need to be verified, call recordings can be heard for that night. I was told that my estimated closing is on XX/XX/XXXX. I was happy and uploaded all the documents required and all the extra documents as well, to make sure everything goes smoothly. I keep calling and checking if something is required from my end. No one informed me that loan office left the company and did had new loan officer. Had to make huge efforts to connect with Loan processor. I been informed that my loan is conditionally approved it took over 3-4 weeks. I keep asking about the closing date and I never got to know when the closing is schedule. Now begins the fun part.On XX/XX/XXXX night after much effort a closing disclosure was added to my loan account as my rate lock was schedule to expire on XX/XX/XXXX ( 45 days even though promised for 60 days ). I immediately reviewed it and saw that lender credit has been reduced from {$2400.00} to {$1800.00}. I thought this is by mistake, so I did called next day and tried to reach out and requested to correct it.XXXX the new loan office gave me a call a day later and when ask for the reason why I see different lender credit than what I was offered initially.He said it was because I am not escrowing my insurance with my property tax. I informed him that I did confirmed that with the loan officer with whom I locked the rate and suggested him to listen the call which I had. He wasn't ready to listen. Then I asked him to check the Loan Estimate which had rate lock and no insurance escrowed. He then went and checked with someone and started telling me new story. He said we send you that loan estimate and we didn't ask you to sign, also all the estimate can change at anytime you go and read the documents and started arguing. He said he will either cancel my loan application or I have to agree to escrow the insurance. He also said it will cost you {$1500.00} to extend rate lock. I had no option but to agree to escrow my insurance with property tax. I requested new closing disclosure with insurance escrowed and updated lender credit. After 2 days I received new closing disclosure which had updated lender credit of {$2400.00}. I called again and asked why lender credit is less than what was mentioned in the initial loan estimate and requested to add difference lender credit to make {$2400.00}. He refused and started arguing and said we are exhausted with you and won't give you any more lender credit. I will go ahead and cancel your loan. Then I requested not to cancel the loan as I had no choice but to accept what I was offered now. I thought this time will move with closing but process was so slow I did called everyday to check if I can get a closing date but no response. a week after XXXX reach out to me and said your insurance agent has insurance policy as HO6 and we need your HOA master policy. I immediately reached out to HOA and requested them to send master insurance policy and send it to XXXX. She is the one which says she will give a call in 5 minutes and will never receive a call until I call back after a day or 2. That too I have to call multiple times to reach her out. Worst  customer service ever. After a week I called and checked if everything is fine and are we good to close, she informs me that loan need to be re price as condo as insurance policy is HO6. I did send her confirmation from my insurance agent, HOA insurance agent and HOA that my property is town home and not condo ( I think she is not experience person to understand ). I can't do anything as it is with underwriter. Finally on XX/XX/XXXX night I got new notification that new closing disclosure is added back to my loan account. I checked it immediately and saw lender credit is again reduced to {$1800.00} I wanted to reach out immediately to adjust the lender credit but Since it was Friday night and office was closed I had to wait till monday to talk to XXXX. I did informed her that lender credit need to be updated and she said she will check with loan office XXXX and let me know. I waited 2 days but never received response or call. Then on Wednesday I call again to see if she was able to check on lender credit, and she said I will check and will call you in 5 minutes. I  waited whole day but didn't received any call. Again I called on XX/XX/XXXX evening after waiting a lot. She informed me that request for lender credit is denied. When I asked the reason she said it is due to rate lock extension and we had re price the loan as condo. If you want to proceed this is what you have.This is end of my limit of bearing. I am too much frustrated with this. Loan depot wasted my 2 months in which I would have closed with another lender and would have been happy. Is this the way customer are served in Loan depot? This is how Loan depot does business.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation