Consumer complaint received 2020-12-15
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: LD Holdings Group, LLC (CA)

XX/XX/XXXX : Loan Application Initiated. 
XX/XX/XXXX : Phone discussion with Loan Consultant ( XX/XX/XXXX ). Rate options discussed. Upfront appraisal fee of {$500.00} notification. 
XX/XX/XXXX0 : Email from Loan Consultant ( XX/XX/XXXX) notifying me that loan disclosures would be sent in within 24-48 hours. 
XX/XX/XXXX : Email to and from Loan Consultant (XX/XX/XXXX ) clarifying language on Combined Disclosures and Acknowledgement Form regarding escrow account for property taxes. 
XX/XX/XXXX : Email to and from Loan Consultant ( XX/XX/XXXX ) clarifying language regarding language requiring earthquake insurance. 
XX/XX/XXXX : My credit card was charged {$600.00} for the appraisal fee, despite the written notification that the fee was {$500.00}. 
XX/XX/XXXX : Email from Loan Consultant ( XX/XX/XXXX) notifying me that appraisal is scheduled for XX/XX/XXXX. 
XX/XX/XXXX : Email to and from Loan Consultant ( XX/XX/XXXX ) notifying me that the Loan was approved with conditions which was to provide a letter of explanation for an address on my credit report. Response prepared and sent the same day indicating that the address in question is a UPS Store box rental for secure receipt of online purchases. 
XX/XX/XXXX : Email and telephone call from Loan Consultant ( XX/XX/XXXX ) providing Updated Loan Detail & Fee Worksheet dated XX/XX/XXXX and the results of the appraisal. Noted that the appraisal came in slightly under the lowest value needed. Discussed need to review and provide rebuttal for reconsideration as appropriate. 
XX/XX/XXXX : Emails from and to Loan Consultant (XX/XX/XXXX ) inquiring whether the Appraisal was emailed to me. XXXX  provided me with a PDF copy of the Appraisal instructing me not to disclose that she provided it to me because it technically had to be sent by the Appraisal Department. New loan options discussed based on the lower than anticipated appraised value. Two new Loan Detail & Fee Worksheets provided. 
XX/XX/XXXX : Email to and from Loan Consultant ( XX/XX/XXXX) detailed rebuttal pointing out numerous errors and omissions by the appraiser that resulted in the lowered value by the appraiser and seeking clarification regarding updated loan rate options. 
XX/XX/XXXX : Email from Loan Consultant notifying me that Appraisal Appeal was submitted. 
XX/XX/XXXX : Emails to and from Loan Consultant ( XX/XX/XXXX ) inquiring about current homeowners insurance provider and requesting a copy of current policy page. Requested documents provided. 
XX/XX/XXXX : Email from Loan Processor ( XX/XX/XXXX) indicating that our loan was approved, and she would be preparing our file for a final review and extending congratulations. 
XX/XX/XXXX : Email from Loan Consultant (XX/XX/XXXX ) indicating that Appraisal Appeal resulted in {$10000.00} increase in appraised value of property and a {$5800.00} savings in loan fees and as a result the loan file was being returned to her to update loan pricing. 
XX/XX/XXXX : Email from Loan Depot requesting documents for Asset Verification Site. Email to Loan Consultant ( XX/XX/XXXX) regarding technical errors with LoanDepot online dashboard and asset verification site. Notified XXXX  that no active loans were shown in my LoanDepot online profile. Screenshots of multiple error messages provided. 
XX/XX/XXXX : Email from and to Loan Consultant ( XX/XX/XXXX ) instructing me to send 2 months of bank statements of one account that shows {$2000.00} in it. Requested financial documents emailed to XXXX. 
XX/XX/XXXX : Email from and to Loan Consultant ( XX/XX/XXXX) asking if I own the solar panels installed on the roof of my home. Response provided confirming that the solar panels were included with the purchase price of the home. 
XX/XX/XXXX : Email from and to Loan Consultant ( XX/XX/XXXX ) requesting proof of ownership for solar panels. Requested documentation provided. 
XX/XX/XXXX : Email to and from Loan Consultant ( XX/XX/XXXX ) inquiring about satisfaction of solar panel ownership documentation. XXXX  confirmed that the provided document satisfied the requirement and notifying me that the loan was submitted for final review and document preparation. 
XX/XX/XXXX : Email to and from Loan Consultant ( XX/XX/XXXX) regarding closing process ( 1. Is XXXX used for closing documents? ; 2. How should closing costs fees be paid? ; 3. Estimated completion date? ) Response from XXXX  that XXXX is used for much of the documents, with a mobile Notary completing a few of them at my home, closing costs could be wired and the loan should close better be in the next two week! Dont pay XXXX!!! 
XX/XX/XXXX : Email to and from Loan Processor (XX/XX/XXXX ) requesting an update on the processing and finalization of the loan. XX/XX/XXXXreplied : I looked into your file and it is still in underwriting. I have reached out to the underwriter to see where she is in the process of issuing the final approval. Once that is complete I will get your closing documents ordered. 
XX/XX/XXXX : Email to Loan Consultant ( XX/XX/XXXX) regarding the lack of clear communication regarding the loan finalization process and inquiring about what information the underwriter needs to finalize the loan. 
XX/XX/XXXX : Email from Loan Consultant ( XX/XX/XXXX ) indicating that the underwriting was finally reviewing my file and she hoped final approval would be completed on this same date. XX/XX/XXXX also noted We are covering any and all rate lock extensions. If it spills into XXXX the negative is you will have more cash to close because of prepaid interest for XXXX, the positive is you can skip XXXX and XXXX payment. Received an update on this same date that she received a clearance for final loan documents and requesting updated paystubs and employment verification for me. Updated paystubs provided. Also notified XXXX  that I discovered that our Payroll Department was behind on updating employment files with the XX/XX/XXXX following the recent resignation of our Payroll Manager. Provided contact information for Human Resources and Employee Relations who can provide direct written verification of employment. XXXX  indicated that LoanDepot would call HRER on XX/XX/XXXX to obtain necessary verification. 
XX/XX/XXXX : Email to and from Loan Consultant (XX/XX/XXXX ) inquiring about the status of employment verification and loan finalizationXX/XX/XXXXindicated that the verification should have been completed and we should have docs ordered in the next week. I provided updated paystubs in anticipation of an ask giving the continued delay with finalizing the loan. 
XX/XX/XXXX : Email from Loan Consultant (XX/XX/XXXX noting that the employment verification was completed on this date. 
XX/XX/XXXX : Email from and to Loan Consultant (XX/XX/XXXX) inquiring if I paid my XX/XX/XXXX mortgage payment. Responded that based on prior communication from XXXX  I had not paid the XX/XX/XXXX mortgage payment to date. Additional messages exchanged regarding lowered rates and the expired rate lock period. XXXX  indicated that the rate lock was extended as a courtesy at no expense to me. 
XX/XX/XXXX : Email to from Loan Consultant ( XXXX  ) regarding the following : Any updates regarding our final date? XXXX XXXX will charge a late fee on the XXXX if I don't pay my monthly payment. They waived last month 's late fee because I called them and told them we were refinancing and should have been closed out by the end of the month. XXXX  responded : Your loan is submitted for final right now. I need 1-2 more days to know if it will fund before XX/XX/XXXX. That was very kind they waived the late fee! 
XX/XX/XXXX : Email from Loan Consultant ( XXXX  ) indicating the following : Not looking good update It will take a week to get docs ordered and out to you. We will miss XX/XX/XXXX deadline. Im so sorry. I responded inquiring if the loan would be finalized and payoff processed with my current lender by XX/XX/XXXX. XXXX  responded : If its not done before the XXXX we will go after LD together!