Is LoanDepot Reputable? LoanDepot is accredited by the Better Business Bureau and has an A+ rating. Trustpilot scores loanDepot 3.7 out of 5 stars, an average rating. The Consumer Financial Protection Bureau received 276 mortgage-related complaints in 2020 about loanDepot’s parent company, LD Holdings Group.
Considering this, 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.
Moreover, how long has LoanDepot been in business?
Is LoanDepot a broker or lender?
Because it’s a direct lender, loanDepot says it can deliver low rates and close loans 50% faster than the industry average application process. The company offers a wide range of mortgage refinance options, including conventional, jumbo loans, FHA and VA refinance.
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.
Is LoanDepot federally insured?
Is LoanDepot FDIC-Insured? LoanDepot does not appear to be FDIC-insured, most likely because they’re not a bank. If this is a concern of yours, I would ask an agent directly if the company has FDIC insurance that might apply to your loan situation.
What type of lender is LoanDepot?
| Type | Public |
|---|---|
| Industry | Mortgage lending |
| Founded | 2010 |
| Founder | Anthony Hsieh |
| Headquarters | Lake Forest, California , U.S. |