Consumer complaint received 2024-02-24
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — Fees or costs after closing
Company: LD Holdings Group, LLC (CO)

This is going to be a rather long story, but Im compelled to tell it. Here goes Around XX/XX/XXXX. I asked for a payoff quote for my mortgage loan from LoanDepot. I wanted to pay it off. I received shortly thereafter a document that specified the amount of XXXX. And that I had until XXXX XXXX to pay it off. On XXXX XXXX I was prepared to pay off the mortgage loan. But I didnt know what the procedure was to wire transfer. I didnt realize that the payoff quote that they sent me had that information at the tail end of the document as well. I just read how much. I called LoanDepot to find out what the procedure was. It was then that I discovered that their system was down and it was going to be unavailable until further notice. In fact, there was no way for me to even talk to a customer service agent. Their phone number was set up to simply give you a recording of the situation and then hang up. I called every day until I finally was able to talk to a customer service agent. Obviously they were very busy because I had to give them a callback number because the wait time was two hours. They did call back and thats when I found out that they had been hacked. And that all of their systems were down. The customer agent could not even look up my files to tell me anything. I had to wait for the systems to come back up at that time. I said to them that I did not want to be charged extra interest for every day they were down and could not give me the information I needed to do the wire transfer. I was assured that they would take into consideration the fact that their system was down and they could not provide the information for me, and that they would probably waive the extra days of interest until their system was up. They told me at the time it may be a few more days until they be back up. So I waited until the following Monday and called again. I did talk to an agent and the system was still down. I believe it was at least eight or nine days before their system was back up and functioning. It was then that I requested the procedures to do the wire transfer. They told me they had already emailed me that information back on XXXX XXXX. But that they would send me an email with the same information again. They did and it turns out the email contained exactly the same information as what I had received on XX/XX/XXXX including the same payoff amount and the due date of XX/XX/XXXX. I saw the date of XX/XX/XXXX, but just figured thats what they were going to be holding themselves to as they indicated in my conversations with them. I received that information I believe on a Friday, XX/XX/XXXX. But knew that I had to wait until Monday to do the wire transfer because the federal agency involved in dealing with wire transfers didnt work on weekends. So on Monday, XX/XX/XXXX we went to the bank and I did the wire transfer for exactly the amount specified in the quote. I believe it was a day later that I got a message from Home Depot saying the loan was paid in full. I was a happy camper. But I wanted to know about the escrow amount and when Id get that. I called them again. The customer service agent told me that it will take approximately 29 days for a check to come in the mail but didnt mention that they took XXXX from my escrow account for the additional interest. After about a month I did in fact receive in the mail the check with an itemized detail. Thats when I first discovered that they had taken out {$970.00} in addition from my escrow. I didnt know what that was for so I called them. I finally talked to someone named XXXX who explained to me that that {$970.00} was for the additional days after XX/XX/XXXX of interest. I was livid. I explained to her that in more than one occasion, I was told that the additional days of interest would probably not be incurred because of their system being down. She went back and reread all the notes on this particular episode, and apparently agreed with me and said she would send an email to whoever to talk about getting my money back. And that she would call me back when she found out. A day later, she did call me back, but explain to me that nothing could be done because the loan had already been paid off and closed. Once again I was livid. That I would contact you, the FTC, to tell my story, And thats what this is. I know they took notes every time I called them, and in fact, say that our conversations are recorded. I certainly hope so because I believe both the notes and the phone conversations will collaborate my story. Is it even ethical for them to pull money out of my escrow? And without my knowledge? Much less not notify me that the loan payoff was short {$970.00}? But to simply tell me it was paid off? Even congratulate me! 

Please let me know if theres anything you can do about this. If you have any questions please let me know.