FutureStarr

loandepot

loandepot

Our goal is to save you time and money on your mortgage.

loandepot

The year's most prominent events taught us a lot. The good news is that B2B content marketing isn't dead. But it's also not a sure-fire solution that will ever deliver quick wins. How can you and your company prepare for the next onslaught of competitors? The answer is to get ahead of the trend.

LoanDepot is accredited by the Better Business Bureau with an A+ rating. Based on more than 3,600 customer reviews on Trustpilot, the lender scores a 3.7 out of five stars. In terms of originating loans, LoanDepot scored an above-average 856 out of a 1,000-point index in J.D. Power’s most recent customer satisfaction rankings. Borrowers are also pleased with the lender’s approach to servicing mortgages: It finished eighth in J.D. Power’s study, scoring 18 points above the industry average. (Source: www.bankrate.com)

home

via GIPHY

LoanDepot’s website doesn’t advertise daily refinance and purchase rates, as some of its competitors do, and doesn’t offer a list of lender fees. This can be frustrating for buyers looking to quickly compare loan offers. Although several links seemingly lead to sample rates—such as “home loan rates,” “refinance rates,” and “compare mortgage rates”—clicking on them only leads to loan term definitions, not actual rate quotes.

The planned initial public offering was a motive for the company’s executives to cover up Mr. Hsieh’s increasingly reckless behavior, Ms. Richards said in her suit. In 2020, as the offering approached, loanDepot paid what it described in regulatory filings as “a special one-time discretionary bonus” to its leaders. Mr. Hsieh received $42.5 million, and other top executives took home cash bonuses ranging from $9 million to more than $12 million. (Source: www.nytimes.com)

close

But the company’s lending was always done by the book, Ms. Richards said — until August last year, when Mr. Hsieh began complaining that loanDepot’s loan volume was lagging behind Quicken Loans’ Rocket Mortgage, the industry’s largest refinancing lender. At a sales meeting that month that she attended, Mr. Hsieh told employees to move faster and “immediately close loans regardless of documentation,” Ms. Richards said in her complaint.

www.nytimes.com)Later that month, Ms. Richards said, she learned from other employees about an initiative called Project Alpha. Mr. Hsieh personally selected 8,000 loans and told employees to process them without the required documentation, according to emails and internal spreadsheets that she cited in her complaint; those loans were then deliberately excluded from the company’s standard post-closing internal audits. 

 

 

 

Related Articles