Mortgage -- Closing on a mortgage -- Complaint #5026899

Complaint Overview

Complaint ID: 5026899

Company: Ld Holdings Group, LLC

Product: Mortgage

Sub-Product: Conventional home mortgage

Issue: Closing on a mortgage

State: Florida

ZIP Code: 33027

Date Received: 2021-12-20T12:00:00-05:00

Date Sent to Company: 2021-12-20T12:00:00-05:00

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

Submitted Via: Web

Consumer Narrative

Company Name : loan depot Closing date XXXX When we applied for the loan we were given 2 options, 1 with escrow tax and insurance and the second without escrow on tax and insurance at a higher interest rate. We chose to not to escrow the taxes and insurance. After we paid for the appraisal and 3 to 4 weeks passed. I was advised by loan depot that they could not escrow the flood insurance they did not know why. But they still charged us the higher rate. After that we received 6 closing disclosers from loan depot for our approval which stated that it included some of the home owners insurance on all of the approved disclosers. On the closing date we signed all the documents including the HUD disclosers as per the agreement again it included some of the homeowners insurance. The 3 days right of cancelation passed and loan depot funded the loan to the title company they called the title company and asked them if they had payed the mortgages off. After the title company advised them that they had then loan depot advised the title company that The borrowers would be getting less money as they did not included the flood insurance in the closing amount. Then loan depot changed the closing discloser to reflect the new closing amount and changed the monthly payment to include the escrow of the flood insurance. Let me be clear we did not approve this change or signed any new HUD closing disclosers. We were not asked by the title company or loan Depot to sigh or approval any of the changes they made without our knowledge nor were we giving the right to challenge or refuse the change. All this was done after they funded they knew that there was an issue but waited to fund first. We called and left a message at loan depot to find out what was going on with a manager regarding the lower cash back amount but they never replied. Later that day the person that was working with us called to apologize and that he saw what happened and that it was not right but that there was nothing he could due as it was done by management above him. He also sent us the new closing discloser with the changes they made. He said he was doing this on his own because he felt bad about what happened. We would like to know what document 's were sent to HUD? What are the official documents the ones we received at closing or the ones loan depot changed without our approval or knowledge? Is this even legal? So we ended up with a higher payment and received less money at closing. Me and my wife are licensed XXXX XXXXXXXX XXXX and XXXX we have done many closing in the last 20 years and never see anything like this. Please let us know if you require any additional information. Thank you

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