Consumer complaint received 2026-01-08 00:00:00
Product: Mortgage — FHA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Application denials
Company: LD Holdings Group, LLC
State: PA

Complaint narrative:
I had been speaking with LoanDepot for 7-10 days prior to the appraisal in hopes of getting a loan to secure home improvements and debt consolidation. They suggested an FHA loan, explaining that due to my credit, I would not qualify for any other type of loan. On XX/XX/XXXX an appraiser that was hired third-party through LoanDepot was sent to my home. On approximately XX/XX/XXXX I was notified that the appraisal came back with my home being listed as vacant, it was at this point the lender, LoanDepot asked for a letter of explanation. I emailed and uploaded a statement of occupancy to them. After reviewing, they asked for 12 months of utility bills to further prove occupancy, which I supplied almost immediately. On XX/XX/XXXX, the lender, LoanDepot responded saying they could not move forward with the FHA loan, stating that once the underwriting department sees vacant they can not unsee it. LoanDepot, stated that the vacant appraisal would stay with the property for 6 months. And that if I were to reach out to another lender, I would have the same problem. I asked for a formal Reconsideration of Value, I asked to file an appeal with underwriting. The lender denied my requests, saying nothing can be done. I explained the error again and further explained that the appraiser admitted error when marking my home as vacant and that the appraisal company, XXXX XXXX XXXX XXXX, stated the would correct the error and resubmit, however that the lender would have to make the request for correction. Once again, I was told nothing can be done and that they would not move forward trying to remedy the situation, further stating that their hands are tied. If this were truly the case, why did they ask me to supply 12 months of utility bills, why did they ask and accept a statement of occupancy? If there hands were truly tied and nothing could be done because underwriting can not unsee vacant, why, put me through the wringer with bogus requests for information. They did however offer to qualify me for a conventional loan, however the interest ( APR ) would be higher, as well as the principal/interest payment, and of course, a further hike in closing costs, which were previously at nearly {$11000.00} by themself. 

I have many concerns, some of those concerns include ; 1 ) the lender underwriting department is wrongfully denying me the right to appeal their decision, as well as the right to file a formal Reconsideration of Value. 2 ) The lender, LoanDepot, stated that the vacant appraisal would stay with the property for 6 months. And that if I were to reach out to another lender, I would have the same problem. 3 ) Now that that FHA was denied, they are * now * qualifying me for a higher priced/term loan, where previously I was told this was impossible. 4 ) They placed a hard check on my credit report which initially I agreed to, but due to their negligence I am unable to move forward with the loan process. 5 ) I paid for an appraisal and they are denying the opportunity to have it properly documented and stated no monies would be reimbursed because the fee was already paid to the appraisal company. Frankly, I feel slighted and that perhaps this is their common business practice to dupe consumers and steal their monies, as well as wrongfully locking clients in with higher term/priced mortgages due to their negligence and unwillingness to do the right thing ( e.i. accept request for reconsideration of value, appeal process, a simple phone call to remedy the situation ).

Company response to consumer: Closed with explanation