11 Sep, 2020 → by ClaimboUser113117
Poor Service and Broken Promises

1

Original review updated by user Oct 15, 2020 Loan still pending, has already taken twice as long as promised, and costs are approaching twice what was estimated. No one can tell me the status of my loan, my calls are not returned, and no one responds to my emails. Calls to supervisors and "customer service" are also not returned, and when I have asked to hold for someone, I was instead disconnected. My original loan agent mysteriously left the company, now no one seems to be in charge or on top of things. Horrible experience, wish I had never heard of Loan Depot. I would give zero stars if I could. Update: Loan has closed, 80 days after I was promised it would take 40 days, and the costs amounted to almost exactly twice the original estimate. Turns out the original loan agent responsible for my loan was reportedly fired, and the promises he made were all broken by the company. For example, he promised a $500 discount on loan fees if I submitted all required documentation immediately. I complied, and when I advised his successor of this promise, he agreed to "look into it," but nothing happened and the promise was not kept. I agreed to closing the loan anyway because the process had been dragging on for so long that I just wanted to get the load closed. I suspect that they were counting on me doing so. Communicating with this company was a huge problem: calls were not returned, and emails generated no response. On those rare occasions when I was able to reach someone, they were unfailingly polite, but reaching them was almost impossible. Example: I was asked if I wished to remain on hold for my loan agent, I agreed, and then after holding for over 15 minutes, they disconnected me. My advice is to avoid this company. User's recommendation: Poor Service and Broken Promises.
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