Consumer complaint received 2020-05-27
Product: Mortgage — VA mortgage
Issue: Trouble during payment process — 
Company: LD Holdings Group, LLC (CA)

See below - have not heard back from VP XXXX ... Also, a payment of XXXX was taken out of my bank account on the XXXX of XXXX, I did not authorize that amount and Loan Depot is still reporting incorrect information to the credit reporting agencies. 

" Good Evening Servicing Vice President XXXX : RE : VA Loan number XXXX I like to pay my mortgage note in advance however I reached out to Loan Depot due to an unexpected change in my VA mortgage loan note. There shouldn't be any PMI on a VA loan. I was told the reason for the change was due to a shortage of {$1900.00} because Loan Depot paid my XXXX insurance policy. I was never notified of the shortage. I found out by login into my account to make a payment of {$1100.00}. After becoming aware, I put {$2000.00} into the escrow account to take care of the shortage. The cost of the XXXX policy was {$1400.00} so there should be a credit on the escrow account of {$530.00}. I also told Loan Depot to return the mortgage payment back to the contract amount of {$1000.00} - see attached amortization schedule and note. 

Loan Depot stated it paid my taxes however the County notified me that Loan Depot did not make any tax payment. I sent two certified payments directly to Property Tax Account XXXX and provided Loan Depot with the receipts to clear up the confusion. 

I reached out to Loan Depot regarding lowering my APR as my current APR is 4.75 % - a rate higher than the current VA loan market rates ; e.g. XXXX quoted me 3.1 % on an IRRL 30 YR Fixed. The APR has not been lowered. I am exempt from the VA funding fee as I am a XXXX XXXX XXXX Veteran. I understand COVID19 is impacting the stability of the housing finance market and bondholders however my request is not about delay in payment - I am requesting for a lower APR. Due to COVID19 can the IRRL transaction be handled via DocuSign?

It can be confirmed through recorded calls and written email  correspondence ( e.g. see below ) how many times I have contacted Loan Depot to resolve the above. I am unsure why the servicing department is having such a hard time resolving this matter however after several months of nonstop back and forth, and getting the runaround, I finally brought this issue to the attention of some regulatory agencies and departments. 

I asked the servicing department to : # 1. Pay the escrow account shortage in full using the {$2000.00} in escrow and in the future provide written advance notice of any discrepancies to the account prior to making unnecessary and unagreed changes. 
# 2 Mail or email me a copy of the audit conducted on my account so I can see the numbers # 3. Mail or email me copies of my statements # 4 Mail or email me a breakdown of how the {$1300.00} was calculated and return my mortgage payment to {$1000.00} # 5 Docusign the APR paperwork for IRRL # 6 Per the FTC, and Federal Fair Credit Reporting Act ( FCRA ), Loan Depot is to report accurate information - the {$1000.00} to the CRAs. 

Thank you in advance for fixing and resolving the above. 

Respectfully, XXXX XXXX On Wed, XX/XX/2020 at XXXX XXXX   XXXX XXXX XXXX XXXX wrote XXXX Good Afternoon Ms. XXXX, I am writing to you this afternoon to acknowledge the concerns you shared with our CEO, XXXX XXXX . We appreciate you brining your concerns to our attention. It is always our priority to provide our customers with a positive and seamless experience. I am sorry to learn that has not been the case for you. We will research this matter with our Servicing team and provide details of the review to both you and Mr. XXXX. 



I left two messages for you this afternoon at XXXX, asking that you please call me to discuss your concerns. My loanDepot contact information can be found in the signature block below, but I want to make sure you also have my personal cell. You are welcome to call me at your convenience, XXXX. I am located in the Central Time Zone. I will reach out to you again tomorrow if I do not hear from you. If you have any additional information that will assist us with our research or if you have questions, please reach out to me directly. 



My best, XXXX XXXX XXXX XXXX, XXXX ( XXXX ) XXXX ( XXXX ) XXXX ext. XXXX XXXX XXXX ) XXXX XXXX https : //www.loanDepot.com