From its headquarters in Foothill Ranch, CA, loanDepot is licensed to operate in all 50 states and has almost 200 branches or “lending stores.” It’s also one of America’s largest mortgage lenders according to the Consumer Financial Protection Bureau.
Keeping this in view, does LoanDepot charge a fee?
LoanDepot has no application fees or prepayment penalties for any of its loans, but the lender does charge a late fee if a borrower is more than 15 days late on a mortgage payment. You can call the lender to get a full breakdown of the fees you might pay on a refinance or purchase mortgage.
People also ask, is loanDepot a legitimate company?
Reputation. LoanDepot is accredited by the Better Business Bureau with an A+ rating. Based on more than 3,400 customer reviews on Trustpilot, the lender scores a 3.6 out of five stars.
Is LoanDepot federally backed?
LoanDepot mortgage loan types
LoanDepot has a variety of mortgage products: fixed- and adjustable-rate loans for purchases and refinances, jumbo loans and loans backed by the Federal Housing Administration and the Department of Veterans Affairs.
What is it like to work at LoanDepot?
loanDepot is the best company to work for in the mortgage industry. The company offers competitive compensation, unlimited leads, and great support to ensure that each one of its LLOs has an opportunity to succeed. I’ve been with the company for over five years and my life has sincerely changed for the better.