Consumer complaint received 2021-05-13
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: LD Holdings Group, LLC (CA)

Loan Depot locked an interest rate of 2.375 % for us on XX/XX/XXXX in the attempt to refinance our mortgage, however they did very little throughout the next 3-4 months. On XX/XX/XXXX, we learned that our locked rate was extended to XX/XX/XXXX, because nothing had happened within that time period - they basically sat on our file and did nothing. We learned on XX/XX/XXXX that underwriting requested Schedule E from our tax return, or rental agreement to verify our rental income, which we submitted rental agreement for their review. No question was asked until XX/XX/XXXX, the same document was requested again. We explained and submitted the same document, again. On XX/XX/XXXX, we learned that our locked rate was extended again, till XX/XX/XXXX, because apparently our file was still being reviewed ; and on the same day, the officer we worked with informed us only a few documents were needed and we were getting very close to closing. The next several weeks were spent on collecting various documents from us, again, no question or comment from Loan Depot was ever made about our rental income. On XX/XX/XXXX, we received closing disclosure from Loan Depot, and were informed that we could possibly close on XX/XX/XXXX. However on XX/XX/XXXX, 4 days before that projected closing date, our officer informed us that more conditions were required from underwriting, including a document named Limited Review Questionnaire from our HOA as well as my husband 's W-2. We were frustrated that the process of collecting documents seemed non-ending, however we submitted them again, within a few days. Being concerned that we were getting close to XX/XX/XXXX, we were informed by our officer that Loan Depot would extend our same locked rate for another 60 days at no cost to us. However on XX/XX/XXXX, our processing officer we had worked with for over 3 months disappeared from us, and a new one reached out to us, and came with a new set of requested documents. And instead of the verbally promised 60 days, our locked rate was only extended till XX/XX/XXXX. And on XX/XX/XXXX, we learned that it was required that we submit our XXXX tax return, within 24 hours, or our file would be denied. We attempted to reach out to our loan officer multiple times, with absolutely no response. Our file was denied a week later, with no explanation whatsoever prior to the denial. Our loan officer refused to communicate with us, until we reached out to his supervisor on XX/XX/XXXX. He eventually returned my phone call, promising that though our file was close, he could re-originate another one for us under the same terms, fees and interest rate. However it turned out to be false promise. Loan Depot is unwilling to reverse our application and offer the same rate/fees, after 5 months of failing us in our refinance process. They have lied to us many times, failed to educate and communicate with us, and failed to treat us fairly as consumers. It is quite clear that they did what they did to get themselves out of our locked rate of 2.375 % because they were no longer willing to honor it, by using tactics such as purposefully prolonging the application process, escalating the difficulty of documents collected from us without providing sensible answers, refusing to answer our questions, refusing to educate us as consumers, refusing to communicate with us at times, as well as lying to us, giving us false hope and promises, and discriminating against us.