NMLS# 174457

loanDepot, LLC

Lender Summary

Now in its second decade, loanDepot is a mortgage industry leader dedicated to creating seamless borrower experiences through its proprietary mello™ technology and mello smartloan™, the industry’s first end-to-end digital mortgage. An innovator since its inception, loanDepot continues to disrupt the lending industry with its focus on technology to deliver personalized experiences to its customers. The Company has funded over $212 billion since its founding in 2010, and currently ranks as the second largest nonbank lender and one of the leading retail mortgage lenders in the U.S. 
NMLS #174457

What they're saying

Ratings & Reviews
5795 Reviews
  • Interest Rates
    Excellent
  • Fees & Closing Costs
    Excellent
  • Responsiveness
    Excellent
  • Customer Service
    Excellent

Review Breakdown

Showing 1 star reviews | Show all reviews

Horrible Experience

I feel as though I was lied to from the very beginning. I received in the mail an advertised rate of 2.6% which was good through the end of the year. Even with that, a credit score of over 800 and 18 years of on-time payments, I was told I could only have a 3.5% rate.
My wife and I provided all information asked for, sometimes twice. They wanted verification of employment, which we provided, and we were turned down because of lack of verification of employment.
The appraisal was also a bad experience. The wrong homes were used for comps. This neighborhood has all custom built homes. The appraiser used homes within a couple miles radius that are not custom built, are not in the same kind of neighborhood, so they shouldn't be used as comps.
Overall a horrible experience with a very unethical company. Don't ever use Loan Depot, you'll regret it, like i did.

  • Loan Type:

    Refinance
  • Review Type:

    Lender Review

Knowledgeable and professional but untrustworthy

The loan officer was skilled, friendly, knowledgeable and helpful. However, we concluded the deal could not be done at this time. That should have been the end of it. I subsequently received a thick envelope with complete loan documentation in it, including all sensitive personal data sent in an unsecured fashion. This was completely unacceptable. I expressed my chagrin, angst and displeasure with instructions to purge the data. This cavalier handling of sensitive information broke trust. Very unprofessional.

  • Loan Type:

    Refinance
  • Review Type:

    Lender Review

Pushy and will encourage you to go with a higher loan amount than you're comfortable with.

In my initial conversation, I felt pressured to agree to a charge on my credit card to secure the loan terms before I was able to cross-shop offers from other providers. I felt pressured to choose a higher loan amount (with a higher monthly payment) to make "the deal work".
When I notified Jake, my lending officer, via email that I was going with another provider, the volume of phone calls and text messages I received were overwhelming and annoying. I provided a competing offer as requested so that LoanDepot could meet or beat the deal, and was met with attitude.
I hope my experience is not indicative of a normal experience with your organization. If it is, you need to dissolve the entire organization.

  • Loan Type:

    Refinance
  • Review Type:

    Lender Review

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loanDepot, LLC

Customer Satisfaction rating is based directly on customer ratings and reviews. Customers rate lenders on their customer service, interest rates, fees and closing cost and overall experience.

LendingTree Certification:

The LendingTree Certification Program recognizes Lenders and Loan Officers with outstanding performance on the LendingTree Network, they are committed to providing exceptional customer service and are graduates of LendingTree University.

LendingTree Certification:

  • Certified Lender
    Certified Lenders have demonstrated their organizational commitment to employee development, at least 50% of their loan professionals have been certified while also providing exemplary service to LendingTree consumers.

Loan Officer Certifications:

  • Gold Leaf
    Gold Leaf is the cornerstone of the loan officer certification program and is designed to recognize loan officers committed to their own professional development while adhering to LendingTree best practices. Gold Leaf recipients know the fundamentals of LendingTree and online lending, they are equipped with the necessary skills to be best-in-class loan professionals.
  • Certified President's Club
    President’s Club is presented to an elite group of loan officers based on success levels in several areas including adherence to LendingTree best practices, commitment to professional development and dedication to customer excellence. Recipients have also met all Gold Leaf criteria.

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