Consumer complaint received 2024-11-23 00:00:00
Product: Mortgage — FHA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Fees or costs during the application process
Company: LD Holdings Group, LLC
State: CA

Complaint narrative:
On XX/XX/XXXX I called loan depot to inquire about a refinance for my property. XXXX was assigned as my loan process. We had a long phone call that day. I explained that I have owned my rental property since XXXX, but I only recently moved into the unit because I plan to sell but want to avoid capital gain tax. I was contacting Loan Depot with the desire to apply for a finance ; I familiar with the process. After my talk with XXXX that same day I was able to upload all of the required documentation and officially apply for a refinance, filling out an application and paying a fee. I was conditionally approved and was asked to schedule an appraisal a few days later. This is the first company I have come across that required a nonrefundable upfront appraisal fee. I paid the fee since I had already had rate lock and an approval. I had turned in all the necessary documents, and I was confident that at this point my loan processor wouldve informed me of any complications or risk if there were any. On XX/XX/XXXX XXXX XXXX XXXX randomly emailed me asking that I upload a copy of my social security card. I found this request to be odd but I complied. They also asked me to upload a letter explaining why a credit report had a mistake on my address as well as as my HOA companies information. I also complied with that request. I got an email on XXXX requesting I schedule an appraisal ; I scheduled the appraisal for XX/XX/XXXX. I scheduled my appraisal a little further out because at this point I found it very odd that I was still being asked for documentation almost a week after I had originally applied and uploaded all the required documentation. I sent an email a week before my before my appraisal was scheduled and XXXX nor XXXX ever got back to me, so I actually ended up canceling that appraisal. 
At that point, I suspect this company taking appraisal fees from customers and then after the appraisal is done finding a reason to deny them a loan/refinance. On XX/XX/XXXX XXXX randomly sent me a message asking for a copy of 12 months of utilities be uploaded. I let XXXX know that I have only lived in my unit since XXXX and I also let her know I told XXXX this the day I applied. Thats information is pretty important in any type of loan or refinance. On XXXX XXXX, in a text message to XXXX I asked him if the fact that I just moved to my unit this past XXXX affect my refinance. He said I dont know, let me find out. He then let me know I really needed to get my appraisal done. I waited day after day for an update but never got one. I decided to trust that my loan process would reach out if he found any issue with my information or application sooner rather than later. Sadly only AFTER the appraisal is done XXXX reaches out to type up a long message explaining I absolutely do not qualify for a refinance because I only lived in my unit since XXXX. This company absolutely is intentionally stealing their customers appraisal fees. I believe he knew the day I applied that I did not properly qualify for the specific refinance he offered and approved me for. And if he didnt know, the day I directly sent him a text message asking directly about my recent move affecting my refinance it should have been his top priority to notify me before my appraisal. Considering that that text message conversation was days before the appraisal even happened. That is absolutely disgusting and illegal. American consumers deserve better. I directly asked XXXX for a refund and he did not give me a yes or no. He just beat around the bush. So I am personally taking a more direct approach.

Company response to consumer: Closed with explanation