Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #6820666
Complaint Overview
Complaint ID: 6820666
Company: Ld Holdings Group, LLC
Product: Mortgage
Sub-Product: Home equity loan or line of credit (HELOC)
Issue: Applying for a mortgage or refinancing an existing mortgage
State: Florida
ZIP Code: 324XX
Date Received: 2023-04-10T12:00:00-05:00
Date Sent to Company: 2023-04-10T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
We applied for a $ XXXX HELOC with Loan Depot to consolidate high interest accounts on XX/XX/2023. Loan Depot ran our credit reports and established our home equity amount of over $ XXXX and started the approval process. A document portal was established on their website to upload the requested documents for loan approval. We provided all documents as requested including documents that we dont feel were pertinent to the approval process. One such request was a detailed explanation of income increase from the previous year. Although we felt it was overreaching, we provided the documentation. They continued to request this task although we had uploaded it multiple times and forwarded to the email provided. Each time we thought all tasks were completedthey would add more. They kept changing the loan documentation requirement descriptions for documentation they already had. We provided more financial information than we have ever provided for any of the loans, mortgages or credit cards we have applied for in the past. My wife and I have good credit, sufficient income ( even by their conservative calculations ) and more than sufficient equity in our home. On XX/XX/ we determined after providing document after document and the time spent with no communication and no approval response that it was time to withdraw our application. The loan advisor confirmed on XX/XX/XXXX that he would withdraw the application. They advertise loan approval within 2 weeks and it was our impression that Loan Depot never intended to approve the loan and continued to make unreasonable requests to discourage us from continuing the process. As of this date XX/XX/, our loan portal with all our sensitive financial documents is still active for employee access. Since applying with Loan Depot we have had fraud and scam attempts via email and text. Based on our experience through this process they have demonstrated unfair lending practices and lack of security handling our sensitive financial information. I would not recommend this company to anyone contemplating applying for a mortgage, home equity or HELOC. It was our worst experience ever with a lending institution.
Frequently Asked Questions
What is Complaint #6820666 about?
Complaint #6820666 was filed against Ld Holdings Group, LLC regarding Mortgage specifically about Applying for a mortgage or refinancing an existing mortgage. It was received by the CFPB on 2023-04-10T12:00:00-05:00.
How did Ld Holdings Group, LLC respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Ld Holdings Group, LLC?
Yes, visit the Ld Holdings Group, LLC company profile at readthecomplaint.com/company/ld-holdings-group-llc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.