loanDepot, LLC

4.3 of 5starsRead Reviews
Recommended 85%

4.3 of 5starsRead Reviews
Recommended 85%

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

4936 Reviews Ratings & Reviews

(4.3 of 5) 4936 Reviews

Interest Rates

Excellent
Fees & Closing Costs

Excellent
Responsiveness

Excellent
Customer Service

Excellent

Review Breakdown

5 Star

(3569)
4 Star

(578)
3 Star

(95)
2 Star

(98)
1 Star

(596)

Show:
Reviews For:
By:

Showing 3 star reviews | Show all reviews

(3 of 5)

Refinance

Poor communication. I heard from my old mortgage company that my loan was paid off but haven’t heard anything from loan depot.

Closed with Lender:

Yes
Loan Type:

Refinance
Review Type:

Lender Review

(3 of 5)

Recommended

Not bad but could have much better

The initial process was fine the loan agent was good, the closing on the other hand was not good. Some of the paperwork was incorrect, had the wrong loan payoff amount and cash to close. Luckily I had a printer available to print new paperwork emailed to me, otherwise we couldn't close. Some of the fees were in my opinion over inflated and could not get a satisfactory explanation.

Closed with Lender:

Yes
Loan Type:

Refinance
Review Type:

Lender Review

(3 of 5)

If self employed run!!!

It was like water torture. Always something new to fill out sent same docs over and over. Loan processor never connected me. Only bright spot was loan agent Michael Clark. I have been self employed for 40 years credit score over 810 20% down and nothing but stress Probably OK if working a W-2 job. Interest rate was great though.

Closed with Lender:

Yes
Loan Type:

Home Purchase
Review Type:

Lender Review

(3 of 5)

Got me the rate I wanted

I got the rate I wanted but the follow up and urgency to get my loan closed was not a high priority. Understanding the back log of loans is driver, not following up on a consistent basis by loan depot caused the process to go beyond the timeline proposed. I had to reach out to find out what is going on. If I hadn’t done so my loan will still be pending.

Closed with Lender:

Yes
Loan Type:

Refinance
Review Type:

Lender Review

(3 of 5)

Recommended

Overall, good but slow

We selected Loan Depot due to them having the best combination of the lowest rate and lower closing costs compared to others. The employees were friendly and responsive. The system they use to ask for and upload documents was easy and convenient. My one complaint is they stated they would close the whole deal in 60 days. We closed at around 101 days. I was always quick to send them the needed documents. If I had to dangerously speculate, they are overwhelmed with applications since rates are so low. I wasn’t in a hurry so it didn’t bother me too much. Just wish they were more upfront about it.

Closed with Lender:

Yes
Loan Type:

Refinance
Review Type:

Lender Review

(3 of 5)

It was a frustrating, drawn out experience

It took over 2.5 months to get funded. I was asked to submit documents that had already been submitted months before.

Closed with Lender:

Yes
Loan Type:

Refinance
Review Type:

Lender Review

(3 of 5)

Great company if you have great credit

I became a customer of loandepot because they took over my mortgage from another company. While never late on my mortgage, my credit hovers on fair to good. Because my debt to income ration is a little too high, I cannot qualify for a refinance which would pay off ALL my debt and I would still be paying less each month. They have me locked in and they know it.

Loan Type:

Refinance
Review Type:

Lender Review

(3 of 5)

Recommended

Bait and Switch

Upon first contact offered a good rate by a very friendly agent. 3 days later spoke with a loan officer who tried to change buydown by a full 1.89 points more and closing costs by 3373.00 more. When I called him on it, He back peddled reduced points to 1.3 and reduced closing to original amount of 7328.00.

Loan Type:

Refinance
Review Type:

Lender Review

(3 of 5)

Process stalled after conditional approval

Loan terms changed in each version of Loan Estimate, but was changed back when we pointed it out. Personal info was sent by email rather than through secure portal. Process took 120 days. Do not use their Title Company recommendation; choose your own.

Closed with Lender:

Yes
Loan Type:

Refinance
Review Type:

Lender Review

(3 of 5)

Recommended

its an normal experience with issues

process was well defined. Required a lot of follow ups and still issues in settling the stu**.ITs very difficult to reach the people.

Closed with Lender:

Yes
Loan Type:

Refinance
Review Type:

Lender Review

Loan officer directory

Sammy LopezIrvine, CA

Fernando ArboledaSherman Oaks, CA

Chris BongirnoFoothill Ranch, CA

Justin NgoIrvine, CA

Darren PomponioLarkspur, CA

Ben YostDenver, CO

Alvin JamiesonStockbridge, GA

Lili KhasheTustin, CA

Irene SlovinMiramar, FL

Ashley NettleshipKaty, TX

Matt MathenySchaumburg, IL

Gerald MeloniFoothill Ranch, CA

View All Loan Officers

Thank you for sharing your experience

Here are a few tips for writing a top-notch review for a company in our marketplace:

Do

Describe your experience with this company. Tell us why you chose this company and explain what you liked most and least about it. Expect to see a confirmation screen once you submit your review. Be patient. Your review may take five to eight days to appear on the site.

Don't

Mention other companies. Your review is about this one specifically. None others. Include any personal information, such as your first and last name, email address or phone number. Use profane or offensive language. Keep it clean.

loanDepot, LLC

Lender Summary

What they're saying

Review Breakdown

Showing 3 star reviews | Show all reviews

Thank you for sharing your experience

Here are a few tips for writing a top-notch review for a company in our marketplace:

Do

Don't

loanDepot, LLC

LendingTree Certification:

LendingTree Certification:

Loan Officer Certifications:

loanDepot, LLC

Review flag confirmation