Mortgage -- Trouble during payment process -- Complaint #7424409
Complaint Overview
Complaint ID: 7424409
Company: Ld Holdings Group, LLC
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: Hawaii
ZIP Code: 96817
Date Received: 2023-08-18T12:00:00-05:00
Date Sent to Company: 2023-08-19T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: No
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Loan Depot has been collecting money into an escrow account in order to pay my home owners insurance ( fire ), my hurricane insurance and my property taxes. In XX/XX/2022 they paid my fire premium ( XXXX XXXX ) to my hurricane provider ( XXXX XXXX ) in error. My home insurance provider ( XXXX XXXX ) cancelled my policy and Loan Depot then put a lender paid policy on my home. The cost of the lender policy was {$5800.00}, more than 500 % the cost of my home insurance policy with XXXX. I was notified by Loan Depot, called my HO insurance provider ( XXXX ) to provide them the information. It was then I learned that XXXX XXXX had never received payment. I called Loan Depot and spoke with a manager who was able to determine that Loan Depot had sent my fire policy premium to the wrong insurance provider. I was able to get a new policy on my home through XXXX. Loan Depot had indicated that they would research this error and get back to me because I asked them to refund the cost of the lender placed insurance. They have never gotten back to me. I called twice more and spoke with other managers and have received the same treatment. I am concerned that Loan Depot is making up for low-yield loans with this lender-placed insurance strategy. I know enough about the mortgage and escrow process to address this directly. However, most consumers will not able to navigate this. Despite the fact that they have admitted fault, they have never contacted me to refund this premium.
Frequently Asked Questions
What is Complaint #7424409 about?
Complaint #7424409 was filed against Ld Holdings Group, LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2023-08-18T12:00:00-05:00.
How did Ld Holdings Group, LLC respond to this complaint?
The company responded with: "Closed with explanation". The response was not 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.