See my review of LoanDepot at http://www.yelp.com/biz/loandepot-foothill-ranch#hrid:JXB31jA3ke9FVtrtvuiyXA . Please see my list of proven metro Denver Colorado mortgage lenders: http://denverhomesales.info/denver-mortgage-lender/ .
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One of my client’s selected an acquaintance from LoanDepot to originate a loan for their new home build in Castle Rock. After collecting documentation from my clients the loan originator handed over information to a loan processor at LoanDepot. The loan processor communicated 2 days before the scheduled closing, 10/30, that there was a large amount of documentation still needed from the builder. The builder quickly replied with the requested information. There was a 1 day delay on the certificate of occupancy, at the fault of the builder, which should have created a closing of 11/4. But at least 4 times since 11/1, the loan processor came back with requests for more information from the builder, that they say is required by HUD. But if this information is required by HUD, why was it not requested weeks ago? Through this entire process we have been routinely delayed because it took the loan processor at LoanDepot 24 hours or more to verify that the requested information is adequate and then come back with more requests for documentation from the builder and my client. The loan processor at LoanDepot never called the builder to verify receipt and understanding of e-mailed requests. Essentially LoanDepot, and the loan originator, took no accountability to get the purchase closed so that my clients can get into their new home. This lack of responsibility goes all the way to the top as we even talked to the manager of the loan processor, with no increase in expediency to communicate additional requests to the builder. In the end they closed 1 week after the original closing date, but the closing never seemed certain. And the acquaintance who originated the loan was nowhere to be found through the entire process.
Getting a loan for a home purchase is about more than good rates and low closing costs, and my clients would have been willing to pay a lot more for a loan so that they could have closed on time, escaped a lot of stress, and had some level of certainty for the last week about their closing. I would never let one of my client’s use LoanDepot for a loan again and I hope people who read this review learn from my clients’ mistake.
Please see my list of proven metro Denver Colorado mortgage lenders: http://denverhomesales.info/denver-mortgage-lender/ .
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