Consumer complaint received 01-11-2017 about Mortgage (Conventional adjustable mortgage (ARM)) with loanDepot.com, LLC (CA).
Issue: Credit decision / Underwriting

Complaint: Loan Depot ( LD XXXX confirmed a rate lock and we signed it XXXX/XXXX/16 ARM 5 year XXXX NO POINTS for our REFI amount at {$320000.00}. SEE EXHIBIT ( EX ) XXXX. ) confirmed by emails ( XXXX XXXX. ) ( no Points ) from LD representative who we were working with XXXX XXXX Received Loan Estimate from LD showing Estimated Closing cost {$5800.00} net Cash out {$52000.00}!! ( XXXX XXXX. ) XXXX/XXXX/16 received LD 1st TRUTH-LENDING STATEMENT SHOWING NO POINTS prepaid Finance charges {$1800.00} ( XXXX. ) XXXX/XXXX/16 received another TRITH-IN-LENDING XXXX XXXX received SECOND TRUTH-IN-LENDING prepaid finance charges {$2200.00}. ALSO now showing Discount Points of {$810.00}? ( EXH XXXX. ) I email XXXX XXXX XXXX XXXX XXXX ) questioning why the points were added? He responded again ( you will not be charged any points ) Cash out {$52000.00} per his email. He was going to correct it?? 
Appraisal completed XXXX/XXXX/16 price at {$970000.00} for {$320.00}, k loan. 
Credit scores in mid XXXX 's +. No reason to change terms of the loan nor we were never told there was a change of points. XXXX kept sending out packets ( EXH 's A-E ) below I think we got XXXX packets, all looking the same except they started changing page XXXX. Which went unnoticed, No Explanations from anyone at LD, no new Truth-in-Lending Statements showing points added to our loan. 

We signed many pre-loan papers online, yet we never could get access to our signed documents? We are locked out to open any of our early papers we signed, only the final closing papers? 
Told by a new department person we would not close till end of XXXX because of underwriting was 3 weeks back log. Questioned why the delay to MV rate lock expires XXXX/XXXX/16? Appraisal was completed XXXX XXXX? With no real response from he would pass my email to department handling our loan Refi was fora new roof due to small leaks, rain starts in XXXX. ( SO GLAD WE DID ) Signed contract to be installed by XXXX giving time to close the refi. Entire inside of the home repainted. All work was to be completed XXXX XXXX and full payment was do for both over {$15000.00} which we did not have in the bank. 
Insuranc discussed back in XXXX with XXXX? XXXX pays for master policy plus we have on inside contents with XXXX. XXXX XXXX does not pay the insurance, only taxes. Then I read XXXX XXXX XXXX ) LD XXXX XXXX is on the line with XXXX going to update my Homeowners policy for contents from XXXX XXXX to Loan Depot before we even close escrow? Email was XXXX XXXX, no papers yet ( nothing ) Main policy is under XXXX and paid by our XXXX. XXXX was paid directly from my checking.? But he was going change before closing occurred the way I read his email? 

Loan Depot will send a notary to our home for signing XXXX and she called to set time. She set time for Sat, XXXX. My wife had drop a trip for work to make the signing. She is a flight attendant. Notary called Sat said no loan papers from LD she canceled till she gets them. 
Now another person is working on our loan XXXX XXXX in Underwriting for LD. I asked if I should pay my loan pymt it will be late XXXX and he told us in ( EXH XXXX. ) not to pay it, he would credit our loan and additional days after XXXX interest and fee 's XXXX XXXX XXXX XXXX informs us a second time our loan has final approval, our loan payment now has a late charge XXXX, and again in XXXX emails ( EXH XXXX. ) he 'll call title let know again to give us credits approved by his Manager XXXX? 

Finally got loan papers Sat when notary arrived and saw the points were still there, we asked the notary and told her about our emails saying no points. we should sign and deal with MV for credits. 
Loan Depot did a bait and switch with my terms in Loan Estimates starting XXXX/XXXX/2016 cash out {$52000.00}, XXXX XXXX, th {$810.00} points XXXX cash {$48000.00}, XXXX/XXXX/16 cash {$48000.00}, XXXX/XXXX/16 cash {$48000.00}, XX/XX/XXXX16cash {$47000.00}, XXXX/XXXX/16 {$47000.00}. ( EXH A-E ) Closing Disclosures. Delayed closing for Rate lock to expire no material changes?

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation