loanDepot, LLC

Run Around

There was little positive about the experience. The broker was nice as could be on day one, then, once they got my deposit it was all downhill. They needed my documents right away so we could close by the end of the month. Then there would be weeks at a time when phone calls and emails would go without response. The broker blamed the underwriter, the managers blamed the processing agent and the processing agent blamed the broker, but no one took responsibility for why a waited 3 months to close. They told me three times I could have a certain loan "based on all the documents you have sent me", then when it went to underwriting it came back as declined. Each time they said, the debt to income ration was not enough. Fine-but why did the original broker keep trying to get me in a product that wouldn't work? How can there be such a disconnect between broker and underwriter. I have great credit,lots of equity in the house, and documented income on the first day. There should not have been any problem making this an easy process but the customer service involved was atrocious and constantly wasted my time. I had to send multiple documents, multiple times because the broker, "couldn't find them." RIDICULOUSLY UNPROFESSIONAL from day 2 until the end when they sent 2 notary agents to my house and made me decide which one I had to send home empty handed.

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Fast and Easy

Loan Depot was easy to work with and the process was completed quickly. It was nice to be able to do it online and to have the notary come to us after work, especially because we have kids.

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Very satisfied!

I dealt with Daniel Barbier. I was extremely pleased with his professionalism through out the process. Julie Kim in loan processing was also outstanding. Would recommend Daniel and Loan Depot without reservation based on my refinance with them. I locked in 4.25%, and then when the appraisal came back higher than we expected, they lowered the rate to 3.75. Fantastic!

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My Recent Loan

I have some experience with finance companies and I found LoanDepot to be one of the most responsive and very fast in getting my loan paper work completed and closed.

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Great Rate, Communication Could Have Been Better

Loan Depot responded to my e-mail request for rates within 30 seconds of clicking on the submit button on Len********.com* Unfortunately, that was one of the only times they responded quickly. The gentlemen I worked with was very knowledgeable and willing to help, but I often played phone tag with him and got frustrated by not hearing back from him in a timely manner. I was told that they could close my loan by November 1st and after that was put off several times, my loan eventually closed in the 2nd week of December. We were not in a major rush, but I think they could do a better job of setting a realistic expectation for their customers. The rate we got was great and in the end everything worked out. Our loan WAS sold a few weeks after closing, but is still being serviced by Loan Depot.

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Refinance

This started out as a process to gather information on refinancing and ended up with me putting in my application. I was a little skeptical but Jacob was able to answer any and all questions that I had. It felt a little rushed getting the information that was needed to process the loan but I was able to provide what was needed. When the loan was assigned to the next person to handle the process, I did not feel that Loan Depot again and would recommend them to others.

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Amazingly Fast Closing

I couldn't believe the 30 day closing promise they made. I was in the process of comparing rates and every other institution had a 60-90 day wait time for closing. I did everything online and close in less than 30 days. Shop around but these guys are pretty good.

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