Consumer complaint received 2025-06-09 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Incorrect information on your report — Account information incorrect
Company: LD Holdings Group, LLC
State: TX

Complaint narrative:
LoanDepot must meet under the Fair Credit Reporting Act ( FCRA ) and other applicable laws regarding the inaccurate and unverifiable information reported on the credit report under * Account Number : XXXX. LoanDepot is obligated to demonstrate compliance with the following sections of the FCRA, as well as other federal and state laws, to justify the continued reporting of this account. 

XXXX. LoanDepot 's Obligations Under FCRA XXXX - Permissible Purposes of Consumer Reports LoanDepot must demonstrate that it had a permissible purpose for accessing or reporting my credit information. Specifically : Was the account opened or accessed as part of a credit transaction initiated by me? 
Was there a legitimate business need related to this account? 
If LoanDepot accessed my credit report for any other reason, they must provide explicit written consent or documentation establishing their authority. 
Failure to demonstrate a permissible purpose constitutes a violation of XXXX. 

XXXX - Requirements Relating to Information Contained in Consumer Reports LoanDepot must ensure that the information being reported complies with the FCRA requirements, including : Accurate and up-to-date reporting of account details. 
Removal of any obsolete information, such as accounts beyond the statute of limitations for reporting ( typically XXXX  years for negative information ). 
If the account contains fraudulent or incorrect information, LoanDepot must delete or correct the entry. 
XXXX - Identity Theft Prevention ; Fraud Alerts If I have placed a fraud alert on my credit report, LoanDepot is required to take additional steps to verify my identity before reporting or accessing my credit information. The presence of a security alert on my XXXX  report ( as noted in the uploaded file ) strengthens the need for LoanDepot to demonstrate compliance with identity theft prevention procedures. 

XXXX - Block of Information Resulting from Identity Theft If this account was the result of identity theft or fraud, LoanDepot must : Immediately block the reporting of this account upon receiving notice of the dispute. 
Provide evidence that the account is legitimate and not the result of identity theft. 
XXXX - Compliance Procedures LoanDepot must demonstrate that it has procedures in place to ensure : Maximum possible accuracy in the information being reported. 
Proper verification of the account before reporting it to credit bureaus. 
Compliance with industry standards, such as XXXX XXXX guidelines, for reporting accurate and complete information. 
Failure to maintain these procedures constitutes non-compliance with XXXX ( b ). 

XXXX - Procedure in Case of Disputed Accuracy LoanDepot must comply with the following dispute resolution procedures : Investigate the Dispute : LoanDepot has XXXX  days to conduct a complete and thorough investigation of the disputed account. 
If the information can not be verified, it must be deleted or corrected immediately. 
Provide Results to the Consumer : LoanDepot must provide me with the results of the investigation and any supporting documentation. 
Cease Reporting Inaccurate Information : If the information is inaccurate or unverifiable, LoanDepot must cease reporting it to the credit bureaus. 
Failure to follow these procedures violates XXXX. 

XXXX and XXXX - Civil Liability for Non-Compliance LoanDepot may be held liable for : Willful Non-Compliance ( XXXX ) : Statutory damages of up to {$1000.00} per violation. 
Punitive damages for willful violations. 
Attorneys fees and court costs. 
Negligent Non-Compliance ( XXXX ) : Actual damages caused by LoanDepot 's failure to comply. 
Attorneys fees and court costs. 
XXXX - Obtaining Information Under False Pretenses If LoanDepot accessed my credit report without a valid permissible purpose or under false pretenses, they are in violation of XXXX. This includes accessing or reporting information without my consent or legal justification. 

XXXX - Responsibilities of Furnishers of Information LoanDepot, as a furnisher of information to credit reporting agencies, is required to : Report Accurate Information ( XXXX ( a ) ) : LoanDepot must ensure that all reported information is accurate, complete, and not misleading. 
Respond to Disputes ( XXXX ( b ) ) : Upon receiving notice of a dispute from a credit reporting agency , LoanDepot must XXXX Conduct a reasonable investigation. 
Correct or delete any information that can not be verified. 
Notify all credit reporting agencies of any corrections. 
Failure to fulfill these responsibilities constitutes a violation of XXXX. 

XXXX. Additional Legal Obligations Under FDCPA and XXXX  Consumer Protection Laws A. Fair Debt Collection Practices Act ( FDCPA ) Under the FDCPA, LoanDepot must : Validate the alleged debt upon request ( XXXX U.S.C. XXXX ). 
Refrain from reporting false or misleading information ( XXXX XXXX. XXXX ). 
Avoid unauthorized communication through credit reporting channels without my consent ( XXXX XXXX. XXXX ). 
XXXX XXXX Finance Code ( Chapter XXXX ) LoanDepot must comply with the XXXX Finance Code, which requires : Investigation and correction of disputed information ( XXXX ). 
Avoiding false, misleading, or deceptive reporting practices ( XXXX ). 
Filing a surety bond with the XXXX  Secretary of State ( XXXX ). 
XXXX. Demands for Immediate Action LoanDepot must take the following actions to comply with federal and state laws : A. Demonstrate Compliance with XXXX ( Permissible Purposes ) Provide documentation showing a valid permissible purpose for accessing or reporting my credit information. 
If accessed due to a credit transaction, provide proof of my consent or initiation of the transaction. 
If accessed for account review, provide evidence of an ongoing credit relationship. 
B. Investigate and Correct Inaccurate Information Conduct a thorough investigation of the disputed account under XXXX. 
Delete or correct any information that is inaccurate, incomplete, or unverifiable. 
XXXX Validate the Debt Provide full validation of the alleged debt under XXXX XXXX. XXXX, including : A copy of the original agreement bearing my signature. 
Proof of LoanDepots legal authority to collect the debt. 
A full itemized statement of the debt. 
XXXX Adhere to XXXX XXXX and XXXX Standards Demonstrate compliance with XXXX XXXX reporting standards. 
Provide records showing the dispute was properly handled through the XXXX system. 
XXXX Provide Proof of Surety Bond Submit proof of LoanDepots surety bond filed with the XXXX  Secretary of State as required by XXXX. 
XXXX. Consequences of Non-Compliance Failure to comply with these demands will result in : Regulatory Complaints : Formal complaints will be filed with the CFPB, FTC, and the Texas Attorney Generals Office. 
Legal Action : LoanDepot may be sued for violations of the FCRA, FDCPA, and XXXX Finance Code. 
Damages may include statutory damages, actual damages, punitive damages, attorneys fees, and court costs. 
XXXX. Final Notice LoanDepot has XXXX  days to respond to this letter and provide the requested documentation and confirmation of compliance. Failure to respond will result in immediate escalation.

Company response to consumer: Closed with explanation