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
Two people working on loan not sure what’s going on. No waiting on call back from around 9;00am this morning. Presently 12:45pm. Hopefully will finally get this figured out. Was fine until yesterday.
Charles from Palm Coast, FL
Reviewed in August 2022
Loan Type:
Refinance
Review Type:
Lender Review
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(3 of 5)
stars
Difficult process
Rates were great, which in the end is what it’s about. However the time and effort had us thinking ‘never again’. <br />We were asked for duplicate docs multiple times. The loan rep was never available by phone and slow to respond via email. We received multiple documents that apparently auto-generate every time the file is accessed. Closing dates kept pushing to the right. <br />Eventually, with wonderful support from a loan officer we closed the loan at a great rate, and had some closing costs credited back for all the trouble.
Georgiann from Chester, NJ
Reviewed in April 2022
Closed with Lender:
Yes
Loan Type:
Refinance
Review Type:
Lender Review
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(3 of 5)
stars
Recommended
Longer Experience than Expected
This wasn't my first rodeo. But the world had some unexpected glitches: my agent got sick with Covid. Though he worked hard under the circumstances to get other agents to check up for him -- it did take him out of the immediate loop in finalizing the loan. Nickdid exceptional work in getting the loan initiated and handed off to the closing agent. Probably the loss of other staff due to illnesses lost some of the driving force in completing the extenuating circumstances of my VA loan refinance. I had to shut off my first company and their agent as she was not attentive to her emails and texts as your Nick was. Yet I did think that the closing would be in early January and it went into Feb. I wasn't told all the facts about how there was a long delay in actually getting my funds after the closing was signed. The closing also sent checks to me that were for closing other accounts -- I thought Office Depot would have handled these with direct payments to these bills -- instead I am still in the process of ensuring that large checks are being handled and received and cleared (along with reworking the final payments/refunds from these creditors) long after the closing date and finally getting a Fed Ex package with funds from Loan Depot. I probably needed a little more hand-holding in this unexpected case. Haven't had much follow up -- I would like to know that Nick is getting better and back to work (he's a keeper for y'all).<br />
Tom from Tampa, FL
Reviewed in February 2022
Closed with Lender:
Yes
Loan Type:
Refinance
Review Type:
Lender Review
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(3 of 5)
stars
I’m hoping I have good news with us
I am really in need of getting help with buying a home I’ve been turned down in the past I’m hoping that that changes considering my credit score should be higher and I’ve been working my job for years and I’m paying $800 for rent when I could be making a mortgage
Paul from Jamestown, NY
Reviewed in February 2022
Loan Type:
Home Purchase
Review Type:
Lender Review
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(3 of 5)
stars
Quick Response to Internet Inquiry>Poor with providing an estimate in writing
Chris White was very personable but did not provide me with a loan estimate as I requested. I am shopping for a Mortgage Refinance with a cash out and was narrowing down who I was going to choose to do the loan. He wanted me to provide him with the other two loan estimates that I had so that he could present them to his superiors to see if Loan Depot could meet or beat them. This is a loss to Loan Dept because we have decent credit scores and lots of equity in our home.
Julie from Prescott Valley, AZ
Reviewed in February 2022
Loan Type:
Refinance
Review Type:
Lender Review
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(3 of 5)
stars
the people were pleasant
unfortunately their loan origination fee's were very high and points on the interest rates were also non competitive.
randolph from Cincinnati, OH
Reviewed in February 2022
Loan Type:
Refinance
Review Type:
Lender Review
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(3 of 5)
stars
Frustrating loan process
Our loan received a pre conditional approval very quickly but then for about a month I could not get answers to why the process was not moving forward
Melanie from Charleston, SC
Reviewed in January 2022
Closed with Lender:
Yes
Loan Type:
Refinance
Review Type:
Lender Review
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(3 of 5)
stars
Recommended
Great start, slow finish
We chose Loan Depot because they provided the best interest rate and reasonable closing costs. Our initial contact person to create the loan was efficient, professional, polite, and responded quickly by text to any concerns, even later on, when it was not really his job, I think. But our loan officer (who took over later) never responded to any of our emails and apparently did not make note of information we supplied on a previous phone call. We were given multiple, conflicting loan disclosures to approve with different numbers on them on multiple occasions and this was never explained. After starting efficiently, the process dragged on for about 2 months before closing, But we got there eventually.
Robert from Norman, OK
Reviewed in December 2021
Closed with Lender:
Yes
Loan Type:
Refinance
Review Type:
Lender Review
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(3 of 5)
stars
Terrible customer service
Terrible customer service and no care for customer retention. Loan office was super nice though and seemed knowledgeable.
Renetta from Kenosha, WI
Reviewed in November 2021
Loan Type:
Refinance
Review Type:
Lender Review
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(3 of 5)
stars
It was a good experience - until closing
The beginning of the process seemed to go well. We used an on-line system to submit required documentation that worked well. Then we waited for loan processing to occur. However, as we got close to our closing date, things got tense. Our loan officer quite about 2 weeks prior - at least he sent an email letting us know. A new person was assigned, but it was clear after a bit that this person was overwhelmed with whatever accounts got dumped on him. About a week before closing we still did not have a final closing cost amount. We were told that the attorney's office that was involved (in Deleware you need to use an attorney) had to provide figures to the loan company, and although we had an estimate in hand, we should just bring our checkbook to closing to make up any balance. We warned the attorney and the loan company that our closing date was the day after a holiday, so banks would be closed the day before in case there was any issue in wiring the closing costs. No one seemed concerned. Three days before closing, we were told that a certificate of occupancy could not be found for our property, which is filed with the county (office closed on holidays!). With holiday coming, this left one less day for someone to find it. It was not clear initially who's responsibility it was to find this (Loan Depot or attorney). Eventually Loan Depot did admit it was on them. We had arranged for a walkthrough of the property just prior to our planned closing at 10AM. That meant me and my wife had to leave our house very early to make the 2 1/2 hour drive to the property from our house to do walkthrough at 9AM. We had rented a Uhaul and had it full that morning, and we had arranged for a bed to be delivered that day too. So we were left scrambling last minute trying to see if the seller would at least let us store our things in the garage of the property (occupy before settlement). Also had to call bed delivery to change date, and we didn't know if we were going to have to stay in a hotel that night. By 10AM, the loan company and attorney involved were not prepared for closing and so it was delayed to 4PM. By that time, someone at Loan Depot finally decided that sufficient information was in hand to go forward with the closing, and there the story ends. Of course everyone involved said they had never experienced something like this before - sigh.
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loanDepot, LLC
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