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

5223 Reviews Ratings & Reviews

(4.3 of 5) 5223 Reviews

Interest Rates

Excellent
Fees & Closing Costs

Excellent
Responsiveness

Excellent
Customer Service

Excellent

Review Breakdown

5 Star

(3781)
4 Star

(589)
3 Star

(98)
2 Star

(105)
1 Star

(650)

Show:
Reviews For:
By:

(1 of 5)

Horrible

I was completely thrilled with the representative that I started the deal with he was wonderful and responsive. Once my loan was sent to a manager it was all down hill from there. She was rude, unresponsive and untimely. I had to call multiple times each day until I finally requested to work with her supervisor. After we have already gone to closing and living in the home she is hounding me for papers she never emailed. I would never go with them ever again it is just a huge circus. My title company said this was the most complicated closing he has ever done.

loanDepot, LLC Response

We appreciate your feedback received regarding the lack of customer service you experienced during the loan process from our staff. We assure you that your case was not a common incident and measures have been taken to ensure it does not happen again. loanDepot will be utilizing your experience as a training opportunity with our staff. Please contact our Customer Care department at 888-337-6888 if you would like to further discuss your concerns.

LendingTree Customer:

Yes

(5 of 5)

Recommended

Loan Experience

My wife and I have had problems refinancing our home. From the beginning Dennis (our Loan officer) and Karen (our processer) were very helpful. Dennis worked very hard to make sure we received the best rate and term to fit our needs. Karen worked very hard to make sure our loan process was painless as possible. They were also very professional and very courteous throughout the entire process. I would represent this company to anyone. Thank you

loanDepot, LLC Response

The growth we’ve experienced over the years is because of employees like Dennis and Karyn, and customers like you, who support our business. We thank you for the opportunity to assist you with your loan transaction and welcome the opportunity to assist you again in the future. Your preference is highly valued.

LendingTree Customer:

Yes

(1 of 5)

Won't give me information....

Rep said is job was to make my financial life easier. Give me a break. I went to Lending Tree because I know how this wor****.its a marketplace and the best deal wins. I don't need anyone to tell me they know what is best for me.****.and who can't tell me what is best for me unless I disclose a ridiculous amount of personal information!

loanDepot, LLC Response

loanDepot has established responsible lending and customer service as its core values and ensures that its staff abides by its core beliefs and operates within industry guidelines. When you feel that our core values are not being demonstrated your feedback is very important. Please contact our Customer Care department at 888-337-6888 if you would like to further discuss your concerns.

LendingTree Customer:

Yes

(1 of 5)

what a joke!

You give ok for $250.00 deposit and they take $495.00. In the documents packet they send you is a letter that you approved the $495.00 payment. They tell you there will be no appraisal and in the documents there is a letter for you to sign giving them the right for an appraisal at any time. They told me the total costs would be $3,300.00 yet in the documents it jumped to over $7,000.00. Slick salesmen and names are meaningless because they are all trained the same way. Avoid this company at all costs.

loanDepot, LLC Response

LendingTree Customer:

Yes

(1 of 5)

Refused to Disclose Information

Loan Depot was the first of the potential lenders to call. They indicated that they could help provide the refinance loan that I was looking for. I indicated that I had been speaking with a number of lenders including my current mortgage holder. When I inquired about Loan Depot's origination fees/ closing costs and the availibility of obtaining a good faith estimate, I was told by Jeanna Hooper that Loan Depot was unable to provide a good faith estimate until I agreed to move forward with a refinance with them. Further, they refused to disclose any details about the 'potential programs' they had available despite numerous inquiries and specific questions pertaining to the underlying costs/fees associated with each. I would NOT recommend Loan Depot for this reason, and caution anyone who is considering a loan with them.

LendingTree Customer:

Yes

(2 of 5)

Recommended

All Pain should be avoided!

I will be brief. We sought a loan through Loan Depot and initially everything went wel****.until closing when suddenly many of the terms "had to" change. One late, unexpected change OK, numerous !!?? that would annoy anyone. What made it worse is that they suddenly became extremely difficult to get in touch with.

I thought that was the end of our problems , because we still had a good rate and notes. WRONG!!! Loan Depot after a couple of months informed us that our note had to be adjusted upwards several hundred dollars because they had miscalculated escrow!!! No way!! How incompetent and wrong!!! In the end we had to pay the higher note for several months before they finally "discovered" their mistake, refunded the over-payment's and resumed at the previous rate ( which was what was initially calculated and hadn't changed for 10 years or more) . So if you like pain, can deal deal with uncertainty, don't mind last minute changes, and can afford to pay for their mis**********.this is the company for you.

loanDepot, LLC Response

We sincerely apologize should you feel that your loan experience with our company was anything less than satisfactory. We appreciate your interest in our company and welcome the opportunity to earn your business in the future. Please contact our Customer Care Department at 888-337-6888 if you would like to further discuss your concerns.

LendingTree Customer:

Yes

(5 of 5)

Recommended

Refinance

I let the loanDepot caller refer me to a banker after I submitted an application for a refi of my 1st & 2nd mortgage - and I am so happy that I did. The loanDepot banker took a lot of time with me up front to clarify income, debt, and structure. My banker almost always picked up the phone when I called (as opposed to a 48 hr SLA @ big bank), and would call be end of day if he wasn't there. Great rate - had to adjust structure after appraisal came in lower - but their responsiveness made that an EZ process. These people work hard to find a loan that works for you. 100% satisfied. Big Bank was terrible experience.

LendingTree Customer:

Yes

(4 of 5)

Recommended

good

loanDepot, LLC Response

Thank you for letting us know about your experience. It brings us great satisfaction and pride to know that we have another happy customer. Customer service is our number one priority at loanDepot and there is nothing more rewarding than the kind words you have sent us. Your loan team will be pleased to know they provided excellent service.

LendingTree Customer:

Yes

(1 of 5)

Worst Customer Experience

I am appalled at the experience LoanDepot offers. I was called by Kenny George today. I explained to him that I am starting the mortgage process and am researching rates. He tried to railroad me into letting him pull my credit report, and when I explained that I obviously wasn't going to let every lender I interviewed pull my credit report he actually laughed. He kept insisting that I had to give him a lot of personal information before he could share his current rates with me. I informed him that other banks were able to share their rates without that information but he kept insisting I had to give him a lot of personal information before he could share a single rate with me. Needless to say, I am not doing business with the incredibly rude Kenny George of LoanDepot. What a waste of my time.

loanDepot, LLC Response

We sincerely apologize that your loan experience with our company was less than satisfactory. Your particular experience has been addressed internally with our staff and will be utilized to improve our processes. Customer service is our number one priority. Please contact our Customer Care department at 888-337-6888 if you would like to further discuss.

LendingTree Customer:

Yes

(1 of 5)

would not recommend

Applied for a refi, everything seemed ok. They asked for $250.00 for the appraisal which I gave them. Here's were the problem states, the appraisal company they had chosen showed my home value about 40K off. Reviewed the appraisal and found out of the 6 comps on the appraisal 1 did not even exist by address, one was a foreclosure and 2 showed higher values with the same amount of rooms and bathrooms, but when looked up they had less bedrooms and bathrooms. Spoke with them and asked for another appraisal from a different company and they agreed mistakes were made, however they don't do second appraisals, I would have to fill out forms to the appraisal company they chose for a appeal and find my own comps. What did I just pay the $250.00 for if I have to do all that? I stopped my loan application with them and trying to get a refund on the $250.00.

loanDepot, LLC Response

We sincerely apologize should you feel that your loan experience with our company was anything less than satisfactory. We appreciate your initial interest in our company and welcome the opportunity to earn your business in the future. Please contact our Customer Care department at 888-337-6888 as we would like to address your concerns.

LendingTree Customer:

Yes

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loanDepot, LLC

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