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Get ALL quotes in writing or via email from loandepot!
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I worked with one of their mortgage specialists extensively to determine which loan package was best for us; this was based on numerous phone conversations with this specialist. After selecting the one we wanted, I told him to proceed with the application.
Shortly thereafter we received the good faith estimate which showed a monthly payment ~$50 more than was quoted over the phone. When I called in to find out why, the specialist was unable to duplicate that package and was unable to explain why the monthly
payment amount was higher. Needless to say, this made us very nervous, that costs could go up totally inexplicably. We decided to go through with the app anyway, knowing we could and would cancel the app if at any time the costs changed again. They didn't,
so we closed on the deal. Other than the problem with the original quote, the rest of the process went smoothly. My suggestion for those looking for mortgages with loandepot is that you MUST get any and all quotes in writing, listing ALL of the assumptions
that were used in the quoting process. Also make sure loandepot saves ALL quotes for you, so you don't have to start from ground zero each time you speak with them.
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Business's response - on 8/8/2014
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Tom - loanDepot has established responsible lending and customer service as its core values and ensures that its staff abides by its core beliefs and operates within industry guidelines. When you feel that our core values are not being demonstrated your feedback is very important. Please contact our Customer Care department at 888-337-6888 ext. 6789 as we would like to address your concerns.
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