Mortgage -- Trouble during payment process -- Complaint #7879788
Complaint Overview
Complaint ID: 7879788
Company: Ld Holdings Group, LLC
Product: Mortgage
Sub-Product: VA mortgage
Issue: Trouble during payment process
Sub-Issue: Payment process
State: District of Columbia
ZIP Code: 20002
Date Received: 2023-11-20T12:00:00-05:00
Date Sent to Company: 2023-11-20T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
Loandepot is the servicer of my VA loan. During the month of XXXX, I was notified that only " certified funds '' were accepted as a form of payment to the servicer. During the month of XXXX, I made a payment using my banks " XXXX XXXX '' service, which sends certified funds directly from the bank to the payee ( Loandepot ), the payment was accepted. However, during the month of XXXX, Loandepot returned the payment to the bank, which subsequently had to go through a process of depositing the certified funds back into my account taking a few days. I contacted Loandepot to and my bank to understand why the check was rejected. My bank stated that the payee ( Loandepot ) returned the payment back to my bank without a stated reason. Loandepot stated that they do no accept the certified funds method of " XXXX XXXX '', only Cashier 's Check and Money Order that had to be mailed in. As the deadline for payment approached, this was not a viable option, and I requested a quick resolution to either wire the money as a payment or ACH, or allow the bill pay service to go through. The representative from Loandepot said that was not allowed and would have to go " through a request '' which was subsequently denied, and I now have a late payment fee. This seems predatory given that they did not mention that " certified funds '' is a definition that is only limited to Cashiers Check 's or Money Orders. Certified funds are funds that are guaranteed and include services like bill pay. Their behavior may be breaching laws and regulations to their ambigious defintion of " certified funds ''.
Frequently Asked Questions
What is Complaint #7879788 about?
Complaint #7879788 was filed against Ld Holdings Group, LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2023-11-20T12:00:00-05:00.
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.