High loan limits. I am writing to their CEO to complain. When I went above him, I at first thought this guy would definitely help out, but he was all talk and no action. This lender will state that it is required by law to have a new one done even if your appraisal is current and acceptable by law. Fixed- and adjustable-rate loans are available, with ARM terms of three, five or seven years. I received a call the next day and she advised that Loan Depot had neglected to figure in either one of the hazard policies on my monthly mortgage. Worst loan processor ever! Previously, Debora was the Mortgage Loan Officer at Prysma Lending Group and also held positions at Bank of America. There are some that are really bad. What is Debora Valdes’s role in loanDepot? Debora Valdes’s colleagues are Rachel Rubio, Cj Nunley, Jenny Grillo, Barbara Shwartz. In 2015, the company claimed to be the second largest non-bank provider of direct-to-consumer loans in the United States.. History. They are a danger to our economy. The lender works through a large network of local agents. I canceled the loan. This is what they are truly after. This allows Loan Depot to offer consumers the option of conducting their business on a face-to-face level, which is excellent for those who just don’t feel safe about applying for and receiving loans over the internet. When asked about it they canceled the refinance only after changing my insurance company payment to them. So after 5 months of no progress at all, and still the same mistakes in the paperwork they created. If this company is a paid advertiser then I think it is only correct & creditable to say that somewhere in the fine print. I did but got an email saying the document was refused because it wasn’t done through their secure email system even though their agent told me to do it. Loan depot is the 6th largest mortgage lender in the nation with over a $35 billion total origination volume. Passed the SIX MONTH anniversary of starting this and was being assured we were very close to closing. I got Moe ** at Loan Depot to write up a refinance on my home. They have no respect for customers. Currently working as Senior Vice President Operations at loanDepot in California, United States. I always told I was qualified. Finally I was told they would be paid. It's considered a “nonbank lender” because it provides lending but not depositing services. They want to know everything about your and your wife life. It’s not unique to LoanDepot, but it’s is one more reason to be very careful who you are doing business with. Results may vary, and conditions apply. Remember I was only doing this to lower my payment. The national company claims that, as a direct lender, it has access to lower interest rates. View phone numbers, addresses, public records, background check reports and possible arrest records for Deborah Loan. Applying for a loanDepot loan indirectly through a third party (e.g., LendingTree) makes the borrower ineligible for this Guarantee. I hope this personal review remains here online. Once you refinance, the company’s Lifetime Guarantee waives lender fees and reimburses appraisal fees when you refinance with LoanDepot in the future. 2 reviews of loanDepot "Beware if you decide to get a mortgage with Loan Depot. Debora Wilson is Senior VP:Ops at loanDepot Inc. See Debora Wilson's compensation, career history, education, & memberships. Be the first one to find this review helpful. It prioritizes creating a streamlined process through its mello smartloan. It takes forever to talk to a person. I used Loan Depot refinance a recent home purchase with a high rate. Regular payments: The lender specifies the amount and interval they wish to receive payments from the borrower. This is because the mortgage servicer earns a fee (typically 0.25% of the mortgage loan balance) as compensation for processing the monthly mortgage payments, ensuring that … Can't access your account? FYI this was my only purpose. They are doing mortgages. I had to do this review after I was connected with this company. people phone Rates and fees can vary by location. We had a good loan, so that wasn’t our issue. I'm retired live on SS and a pension. They were timely and didn't add increases to our closing costs. To complicate the above on why I will claim I was scammed: 1. The site is little more than a sales-brochure promoting their mortgage products. I can't believe how this has all gone down. Not a member? Be careful they share your personal information to all kinds of people that has no reason to have it. If you are in too far and have to remain then you should record every conversation that you have with this company (They are also recording you). It started off ok, but then underwriting kept asking for more documents. Then a man emails me for further bank statements etc. I obtained Loan Estimates in early October for a "streamlined" refinance of our VA loan (under IRRRL) from multiple lenders, including Loan Depot. My condo title and HOA both classify my building as a mid-rise condo that they do refinance mortgages for. Their customer service is terrible. The process takes forever, it is a long torture. Debora Whelchel in Kihei, HI received a Paycheck Protection Loan of $12,000 through Central Pacific Bank, which was approved in April, 2020.. The loan officer got it restarted, but by then we'd used up a couple of months. We had done some upgrades and I had not gotten credit for owning my own solar panels. This is exactly the opposite of LoanDepot. LoanDepot is a legitimate lender that's licensed to offer a variety of home loans and refinancing services. Get Full Access To Debora's Info. LoanDepot is a home loan and refinancing firm that offers a streamlined digital process. I was told I was in final approval. Debora is responsible for assisting all homebuyers - first time homebuyers, those looking to move up, downsize and refinances. A link has directed you to this review. The company as a whole was not a bad company, but the customer service was anything but service. I also do not understand why this company is rated 4 stars when I cannot find enough positive reviews for the math to show 4 stars. They used a drive by appraisal that came in at the purchase price. Previously, Debora was a Mortgage Loan Officer at Prysma Lending Group and also held positions at Bank of Amer... Read More, Operations Specialist & Teller & Supervisor, Ssr, Information without innovation is just data, Profiles With a Similar Job Title And Industry, Profiles With a Similar Job Title And Location. 1 talking about this. 3 days went by, and I received an email from Loan Depot stating that if I contacted them they had a better offer than originally offered. I obtained an email stating that underwriting would be a breeze as this is a "streamlined" refinance and that it would take about 15 business days for approval. I would be out the several hundred dollars paid for the appraisal that was now worthless (requests for a refund of that fee were denied). More than three months later I STILL have not closed on the loan. I quick Excel spreadsheet showed there was. So please do yourself a favor, stay away from them. Share . She failed to communicate. Get buying tips about Mortgage Lenders delivered to your inbox. An emerging-growth nonbank consumer lender and market leader offering home mortgage, refinance and home equity loan products in all 50 states. with Loan Depot due to their favorable rates. Loan Depot also operates more than 150 loan stores across the country under the brands iMortgage and Mortgage Master. I put a deposit down for an appraisal which is supposed to be refunded when I close, and he reminded me of that when I said that I will look elsewhere for this loan. As a landlord and homeowner I have finance and refinanced many times. Who are Debora Valdes’s peers at other companies? The risk to one's time and nonrefundable upfront money isn't worth it. Preferred SBA Partners - Underwriting Decisions in House. Would NOT recommend! I understand due to recent low rates in market, loan depot folks were busy ! Started a refinance with them...they kept asking for more and more documents. Also there are a lot of contradictory statements on their website and service. It was pure torture. It has been 2 months trying to get this done and they were late so I had to pay fees even though I had asked to have them paid earlier. Debora has 4 jobs listed on their profile. Because loan rates change daily, the best way to find out what LoanDepot’s rates are is to contact the company when you're ready to apply. When the supervisor did call, they called at 6:00 am in the morning and left no voicemail. Work with your new servicer to find out what payment methods are acceptable. Now they are showing the next payment to be higher than it should be. Now 67 days later I called Mr. **. As soon as I gave them money for the application fee it all went off the rails. 26642 Towne Centre Drive, Debora Valdes’s peers at other companies are Ryan Klaic, Joon Lee, Jazlyn Chan, Maggie Johnson, Christina McWhorter. Finally, I got to a supervisor and he said the taxes were paid and sure enough they showed up on the dashboard on the website. Lets assist you with your SBA Loan Today! As we approached the seven month point, underwriting re-discovered my one open credit account (which they had known about and calculated in since the beginning) and suspended the application again. They failed to provide a Mortgage, so why am I responsible for any of their expenses? So I feel much better, but I am really pissed I have been abused by LoanDepot. Rotten mortgages are what took the economy down in 2008. It upsets me that I watch TV and see their commercials that talk about their commitment to customer service. to do the job for more. Debora Valdes is the Loan Consultant at loanDepot based in Dallas, Texas. Export. Unless you can’t get a better rate somewhere else, I would avoid LoanDepot. But, I did. The payment plan in your Loan Agreement depends on how the borrower makes payments. I asked repeatedly to speak with a supervisor which eventually resulted in getting hung up on. We are almost at 90 days & still not closed. It took 121 days for them to get my loan closed after following up with them for approximately 43 times. One is better off either paying a slightly higher rate with a reputable lender or using their quote to use as leverage to get one's preferred bank to match them. I hope this review will save a person from falling into this trap. Basically they made a request and the tax department said no. Loan Depot Profile. If this happens to you contact the CFPB so it can be investigated. Your local mortgage lender Debora Kerr! Don't even start with them! Then we went into a repeated cycle of checking in and being told that underwriting was working on it. I was never informed that they only did mortgage refinance of certain types of condo buildings. View all Jobs in Remote, OR at Loan Depot. Our issue was that any time we called we didn’t get the level of service we needed. 1 was here. If I had known the importance of the building classification, I would have ensured the appraiser got the number of floors in the building correct. This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. I understand that there are a lot of people refinancing, but I wish Loan Depot would have been more honest about the length of time required between the Loan Estimate and closing. If that's the case Loan Depot needs to do something about it. A mortgage is a mortgage, so let’s find the best deal and go through the process. loanDepot's leadership team is committed to making us America's mortgage lender of choice. The lender also offers fixed rates with terms over 10, 15 or 20 years. LoanDepot offered me a rate that was better than my normal bank and thus I decided to give them a try as they are reported to be a reputable lender. View Debora Wilson’s profile on LinkedIn, the world’s largest professional community. After so many emails and phone calls. If you can go anywhere else for a mortgage refinance, do it. LoanDepot, sometimes stylized as loanDepot, is a Lake Forest, California-based holding company which sells mortgage and non-mortgage lending products. When I called him out on his offer he claimed he was unable to see the original quote in his system. Getting a Mortgage has always been stressful for me. They dig and find all kind of information, which is offer erroneously, and ask your to prove it. Borrow up to $2 million through a jumbo mortgage loan. They keep me informed of their latest financial products. Her ethics are beyond reproach and her commitment to her customers is unequaled. There are so many to choose from, it’s not with the risk. Debora Valdes’s role in loanDepot is Loan Consultant, Debora Valdes’s email address is d***@loandepot.com, Debora Valdes’s business email address is d***@loandepot.com, Debora Valdes’s direct phone number is (203) ***-****, Debora Valdes’s HQ phone number is (888) 337-6888, Debora Valdes’s latest job experience is Mortgage Loan Officer at Prysma Lending Group. They are not bankers. Mailing Address: There is absolutely no reason for this. Great Mortgage company, they have great follow up, do what they say. As LoanDepot can suddenly deny your loan for reasons they never previously explained to you and that don't exist in any piece of documentation, I recommend to avoid using them. For more information about reviews on ConsumerAffairs.com please visit our LoanDepot was founded in 2010 and has funded over $275 billion in consumer loans. Mortgage rates comparison Whether you need 15-year fixed rates or 30-year fixed rates, Quicken is going to be the cheaper mortgage lender with less interest. I felt pressured and I felt the red-flags going off. Based on the quality and frequency of confirmatory data points, this metric represents the likelihood that a contact is employed where we say they are and that it is possible to reach them via email, Own your online presence by claiming your ZoomInfo profile, 26642 Towne Centre Drive, Foothill Ranch, California, 92610, United States. Debora was raised in … I got the higher appraisal I needed and got the good rate no thanks to Loan Depot. Find this lender to regularly be available for personal communication and answers to my questions. All Rights Reserved. In LoanDepot’s website it says you can request to have the supplemental taxes paid from your escrow if there is money to do so. LoanDepot also has a program to help homeowners refinance multiple times. After obtaining the loan estimate, everything slowed way down. How do I know I can trust these reviews about LoanDepot? Companies displayed may pay us to be Authorized or when you click a link, call a number or fill a form on our site. Do not use this company. So I do not know if I will ever get my money back. I got two emails from LoanDepot saying my loan was conditionally approved. BEWARE! So it is important to be able to trust the mortgage company with all this very private information. This is also considered Billing Abuse. Now my nightmare begins. Its location on this page may change next time you visit. Everything was great until the home appraisal was done that reported my condo being in a high-rise building. I kept checking the loan dashboard and never saw the payment. The company was founded in 2010 and is headquartered in Southern California. Because they think they have to pay the higher amount they raised my house payment to boot. Fourteen weeks later (October 6 - December 29) and I still have heard nothing from Loan Depot about underwriting approval, document delivery, or closing. Good luck with your home. Then they cancelled the application without notice and for a bizarre reason. What is Debora Valdes’s direct phone number? My loan officer Darryl ** is the best man for the job. Yes I could have backed out, but I didn't. Allegedly my loan is closing tonight by certainly am not holding my breath. My "guy" said several times over the months how embarrassed he was and that he would fast track it. - Return phone calls were seldom made to me within 10 days. Be vigilant with all documentation, don't assume they have it all together they don't, finally don't be surprised if you directed to multiple agents and if so, be ready for the bait and switch. However, it doesn’t display interest rates and APRs on its website. Rob **. View Debora Wilson’s profile on LinkedIn, the world’s largest professional community. Worrisome, so I'd send another email or call and then I'd get a request for more information for the underwriters, but it would be information I already sent. Debora Valdes Contact Information. Did not take money out of my home. Our content is intended to be used for general information purposes only. I was contacted in August 2020 to refinance my condo. They keep making mistakes, they do not communicate and take 24 hours to respond to status inquiry, making sure to tell you that you are a pain slowing them down in their process. They removed the one hazard policy. I told the agent I recently purchased the house and the appraisal would come in right around the purchase price. They claimed that it’s because of Covid. They keep me informed of changes in the mortgage industry. He has assisted me and my real estate team with an abundance of loan. Unsubscribe at any time. Mortgage Loan Originator / Falo Português / Hablo Español LoanDepot is an online lender operating in all 50 states with more than 150 in-person branches and more than 2,000 licensed loan officers. I checked after the tax due date and again nothing showed the payment being made. I pray they will sell my loan to someone else as Penny Mac had great customer service even in the pandemic. Before we refinanced, we had our home loan with LoanDepot. And by the way, I completely qualify for this small refi - that's never been the issue. I say he enjoyed it because he literally was laughing on the phone when I told him I won’t be letting this go and I will get my money back. Testimonial disclosure — Compensation was not paid in exchange for any testimonial on this site. Loan Depot Contact Information. End result what I thought was going to be about 220.00 plus savings per month ended up being less that 100.00. Don’t use them. Origination fees are deducted from loan proceeds. Learn more about our executive management. Guess what? She simplified our process by making the tasks at hand easy convenient and dare I say "fun". All loan applications are subject to credit review and approval. What company does Debora Valdes work for? The loan process began on August 13, 2020. We started the process on 10/22. This process has been exhausting and infuriating and the people have proven themselves incompetent. So I didn't say anything for a while, but after weeks and weeks, I'd check in again and not get a response. How wrong I was. Getting an appraisal is just one of the conditions to get a loan, and there is absolutely no reason for asking this money upfront for locking a rate. I recently decided to refi. Absolutely the worst mortgage company I have ever dealt with. If I was allowed to give zero stars I would give zero stars. Debora has 5 jobs listed on their profile. Steer clear of them. At this point, I was contacted that LoanDepot doesn't do loans for high-rise condos and would be canceling my mortgage refinance. We've given them everything they've needed very timely. FAQ. It will always be rolled into the cost of your loan. We will bring her all of our business and I would reccommend her to every person who is in need of mortage help." https://www.ispot.tv/ad/tY71/loan-depot-home-means-everything-founders Their digital platform is very user friendly. "You have to provide your credit card and we will charge you $500 for an appraisal as the condition to lock the rate." I then was put in contact with a loan office who gave me the standard list of needed item, tax return, proof of income, home owners insurance policy and in my case Hurricane/Wind insurance required in Hawaii. The company uses advanced technology to provide a completely digital mortgage experience that includes an online application and free calculator tools. Find Debora Wilson's accurate email address and contact/phone number in Adapt.io. It started out like many other times I've refinanced over the years - asking for standard information, etc. I need this to stop. All loans may be subject to an origination fee of 1% to 5% of the loan amount. And still no visible end to the nightmare I had enough of this. I obtained Loan Estimates in early October for a "streamlined" refinance of our VA loan (under IRRRL) from multiple lenders, including Loan Depot. When it came time for closing a notary was sent to my residents with a pile of doc's all in legalese, I went along signing my life away and unknowingly missed a very important detail, They had totally botched the costs for monthly home owners and hazard insurance. I only get responses when I leave multiple messages over a period of days and only when I include supervisors in messages. There were so many opportunities for the loan processor Grace Fedroff to help us, to guide us, to meet our needs, and at every point possible she failed. For 5 months? By entering your email, you agree to sign up for consumer news, tips and giveaways from ConsumerAffairs. Home Loan Depot, Marrickville, New South Wales. I sent him the documents. Hopefully this review helps save someone the headache I've been put through having tried to do business with this company. Foothill Ranch, California, 92610, Here lies the beginning of a miserable experience. Services are available in all 50 states. They still haven’t apologized for messing up. There was no time that we were provided with excellent customer care. He recognized the file was a mess. *Please do not think they will do your closing for free. Also when I had to declare bankruptcy my house was never in it but they show me as my house was in the bankruptcy so they really messed up my credit. This company could care less about closing on your home after they got your appraisal $. Superb service is what you will receive when you request a mortgage home loan from Loan Depot. ConsumerAffairs is not a government agency. I honestly don't know what to do with them. To request an account, please contact your Jira administrators. Always with a successful outcome and the lowest rates. I went ballistic, I did lost trust in them, I did provide all the documents they needed in time. Helping you find the right loan with ease. They will guide you throughout the mortgage process and they will have the documents delivered on time so your closing is not delayed. Shut them down and found someone else, who is offering a better rate and almost zero cost, and plans to close in 22 days. Your loan approval for any future loan is not guaranteed. The technology also helps determine which loan types work best for your situation. You tell them about the mistake you noticed and they tell you that there are no mistakes. My loan officer and other people assigned to my loan have been replaced multiple times. I receive sufficient notice on changes to my account. Copyright © 2021 Consumers Unified LLC. The lender offers the following loan types for purchasing and refinancing: LoanDepot offers mortgages and refinancing loans with fixed or adjustable rates. 10/2/2020 8:24 AM. The contents of this site may not be republished, reprinted, rewritten or recirculated without written permission. I have to say this practice of asking money from the customer to lock the rate is very common, and it is anti-competitive. Last Update. In the event a full appraisal of your home is required, the property value at that time must be acceptable for the program and loan terms requested. He held that over me in a gloating way. It's like pulling teeth to even find out what's going on! It is true that they spent the money into getting an appraisal, but every business has a cost, and as a customer I am not responsible to pay for their salary, or rent or anything else. I started my refi process 5 months ago and it still hasn't completed. Went through four different loan processors. Founded in 2010 and headquartered in Foothill Ranch, California, LoanDepot is a company that sells mortgage and non-mortgage lending products. I am not making this up, he really enjoy this. While the agents tried to be hopeful, I could not talk to a tax person. I think these men at Loan Depot are capable of putting America into another 2008. No prepayment fee. LoanDepot holds its loan officers to a “no steering” policy, which means honest, impartial guidance when it comes to selecting the best loan for you. I started a refi with LoanDepot in June of 2020. Nothing happened. They don't know anything about banking. Unethical, you make the call. And LoanDepot win in this category. She failed to be timely with dates. Be forewarned, you do business by voice mail, sometimes days for them to return your calls. And it is very important for the mortgage company to communicate clearly, listen carefully, be as accurate and diligent as possible, and move as fast as possible. But then it dragged out and when I would ask what the time frame would be, they just said it was a busy time. I applied for a refinance in July and at first it seemed like this was a good company. The appraised value of your home for the future loan is not guaranteed. Of course they force sell an appraisal on you at the early stages. Suddenly another person received all my personal information and started asking for yet more information. They were responsive to my calls, answered my questions, etc. A simple search on FEMA flood zone maps would tell them that I am not required to have this insurance - but to get them to look for this has taken 2 months. Supposedly they've put things on a "rush", but still takes longer than a week for a response. They offer loans for home refinancing, home purchasing, joint ventures and more. I kept complaining and showed I had plenty of escrow funds. They do a very good job keeping all parties in the loop. And he is not here to help you. What is Debora Valdes’s latest job experience? She failed to do due diligence. So instead getting good rate I could only get a slightly better rate and have to pay fees upfront. According to LoanDepot's website, most loans are transferred to a new servicer within the first 30 to 90 days, so be on the lookout for a letter mailed to you 15 days before the transfer. 153 likes. Right then and there I should have declined the offer, however with such a low rate, I pressed on. I kept calling and calling spending hours on the phone and online. This eliminates a large part of the paperwork usually required for a mortgage by digitally verifying your income, employment and more. When I confronted him with my feelings about how I was being treated, he was arrogant and just rude. I did qualify BTW. They have absolutely no professionalism, have zero respect of their customers, and will not recognize their mistakes. I knew something was odd right away when I could not be involved with the appraisal and nothing would proceed forward with the loan unless I were to pay the company of their choice (Their HOOKUP!) Debora Valdes works in the industry of Banking, Brokerage, Finance. It is very important to do your own analysis before making any investment based on your own personal circumstances and consult with your own investment, financial, tax and legal advisers. Search, apply or sign up for job alerts at Loan Depot Talent Network I posed a question as to whether I would be required to obtain an appraisal since I have so much equity, the original agent advised he could not answer that, would contact his manager and get back to me. Whitepages people search is the most trusted directory. This company should be called APPRAISAL DEPOT! You will have an inside appraisal forced upon you. And I can't get them to take it off of there. About two weeks later I received a call from Loan Depot requesting three items of information that I had already provided that they needed for their underwriters. Offered loan terms depend upon credit score, requested amount, requested loan term, and credit usage and history. Claiming to be the pioneers of direct lending, they have no problem telling you they have the lowest purchase and refinance rates and fees without publishing anything on their website. Debora Manfre serves as a Loan Officer at the Patchogue, NY branch for Freedom Mortgage. But he took pleasure in telling me I was out of luck because they had me sign legal document that said they can do whatever they want, take how long they want, and not give me the money back. They did not know Texas laws and did not do the loan according to laws. Enjoy reading our tips and recommendations. Do not use LoanDepot. The initial contact with Loan Depot … To put it simply, LoanDepot has too much on their plate and an underwriting group that is hopelessly incompetent. The hybrid ARM (adjustable-rate mortgage) offers a short introductory period with a low initial rate and then adjusts over a set period of time.
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