Consumer complaint received 2017-02-21
Product: Mortgage — FHA mortgage
Issue: Application, originator, mortgage broker — 
Company: LD Holdings Group, LLC (MI)

During this past year, I determined that I would like to do a cash-out refinance of my FHA mortgage. Interest rates it seemed were at a great level. I had bought my home in XXXX of 2010 and i knew it had greatly increased in value. I began the process in Late XXXX. I had a variety of issues along the way. Specifically, I was entered into the process with an experienced mortgage processor. I was then passed on to another specialist to help me through the refinance. That inexperienced specialist failed to maintain contact with me. I was receiving calls from various companies and Loan Depot would not leave messages. I would contact him via email and recieve emails days later that failed to address my questions. My employer had similar issues when they contacted him to confirm my employment. I had difficulty in getting my appraisal. The appraisal itself was fine but I did not receive a copy of that appraisal until almost 2 months after it was done. That was only after repeated requests. I was informed that it was not in the system for whatever reason and they had to contact the appraisal company again and get that company to send them a copy again. Due to the mishandling and delays that occurred during my refinance attempt my rate lock agreement was extended 3 times. I was not informed accurately of the extensions. I was not even aware that the agreement had been extended more than once. I did not receive copies of these extensions. Only in the very end when my rate unlocked to the market rate, at the end of XXXX, did I receive a copy of the extension. The increase in rates caused my APR to go up .9 %. I felt cheated because I had repeated expressed to XXXX, the main employee I dealt with at Loan Depot, that I was worried about my loan unlocking. He assured me that would not happen. In my opinion Loan Depot cost me XXXX of dollars in allowing this to occur. Loan Depot appeared to have broken their obligations and intentional delayed the process until they could get out of my agreement. In XXXX I was contacted by XXXX of Loan Depot who I have never spoken with. She informs me that quote " The pricing on the loan has changed dramatically. In order for you to get the same cost, your rate will increase to 4.25 %. If you wanted to move forward with the same 3.375 % rate it would cost you an extra {$3200.00}. '' I told her that in my mind you have broken your agreement with me. They caused me significant consumer injury. I had already paid for them to pull my credit ( {$10.00} ) and for the appraisal to be done ( {$470.00} ). However, I did not want to move forward with Loan Depot due to their mishandling of my loan. It is my stance that Loan Depot failed to meet their basic creditor obligations. I also would like to state that I view the employees of Loan Depot as having employed deceptive and misleading business practices during the course of the loan process. I also believe that Loan Depot 's employee 's conduct has violated the general standards of business ethics. My loan was not given the proper attention. They allowed the rate to unlock in order to make a more profitable loan. I am sure that I was not the only person to have this occur. I believe a whole group of people had this occur to them.