| 01/24/2022 |
No |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Servicemember |
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On Tuesday, XXXX, I contacted Ladera Lending ( XXXX XXXX ) for a mortgage quote for a Duplex ( investment property ), seeking a 30 year fixed rate loan.
Ladera ( XXXX XXXX ) quoted me via email ( XXXX @ XXXX ) a 30yr fixed rate at 75 % LTV with a timeline to close of 30 days or less. The rate was 4.75 % down to 3.375 % ( depending on how much I wanted to buy down the rate ). Reference email 1.
Ladera ( XXXX XXXX ) also sent me ( XXXX @ XXXX ) a get started email with required documentation to begin the process on XXXX. Reference email 2.
A few minutes later, Ladera ( XXXX XXXX ) sent a revised quote ( @ XXXX ) because he did not put into his system that this was an investment / duplex. The rates increased. LTV remained 75 %. Reference email XXXX.
On Wednesday, XXXX, Ladera ( XXXX XXXX ) emailed @ XXXX stating the cost went down on the loan as the 10 year bond dropped. LTV remained 75 % but the cost to buy down the rate reduced slightly. I responded on XXXX @ XXXX stating I was shopping around and requested he let me know if costs or rates continue to decline. Later that day ( XXXX @ XXXX hrs ), Ladera XXXX XXXX XXXX ) sent another email advising the cost went down again. LTV remained 75 %, lowest rate presented was 3.87 %. Reference email 4.
On Friday, XXXX, Ladera ( XXXX XXXX ) emailed @ XXXX stating the costs again went down. He quoted a rate down to 3.87 % but with slightly lower costs than in the previous day 's email. LTV remained 75 %.
With this quote ( LTV remaining consistent throughout all discussions ), I requested he confirm the time to close a refinance was 30 days ( my email @ XXXX ). At XXXX, Ladera ( XXXX XXXX XXXX confirmed 30 days. At XXXX, I agreed to proceed based on the quote and provided the requested starting documents. Reference email XXXX.
At XXXX, Ladera ( XXXX XXXX XXXX XXXX from XXXX to ask several detailed questions. The call lasted 4 minutes until XXXX At XXXX, I received notification through my Identity Guard credit monitoring of Ladera 's credit inquiry. Reference email 6.
At XXXX, Ladera ( XXXX XXXX XXXX via text message reduced the LTV from 75 % to 70 %, after having already run my credit report. He then asked if I thought the duplex was worth more than $ 300K. I said ( via text ) it was possible, as the duplex around the corner sold in 2020 for $ 325K and the XXXX estimate was {$430000.00}. He asked if I would like him to change the quote to $ 430K ( his text @ XXXX ).
At XXXX, I called Ladera ( XXXX XXXX XXXX and asked him to clarify the implications of adjusting the loan quote. He said he could put it as high as I wanted but the appraisal would determine the loan amount. I said I did not think it would appraise at $ 430K but perhaps could appraise at $ 350K given the comparable sale ( two years prior ). This call lasted 3 minutes.
At XXXX via text message, I requested Ladera ( XXXX XXXX XXXX petition the underwriters for the full 75 % LTV XXXX At XXXX he denied the request and stated, " We just need the appraisal to come in highest we can get it '' On Friday at XXXX, Ladera ( XXXX XXXX XXXX sent a text letting me know a collegue ( XXXX XXXX XXXX will email the disclosures and advised the appraisal would cost {$550.00}.
Ladera 's bait and switch tactic ( i.e., continuously reducing their rate and/or costs while promising 75 % LTV until I decided to choose their company, then adjusting the terms after running my credit ) did not sit well with me. After contemplating these unfair and deceptive practices over the weekend, on Monday XXXX, I requested they honor their original quote, which they declined to do.
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| 12/05/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Struggling to pay mortgage
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Web |
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In XX/XX/XXXX, I purchased a condo with XXXX XXXX mortgage company. Within few months, XX/XX/XXXX, I refinanced the loan through Ladera Lending with a broker who offered a 2.5 % interest with a significanly lowered monthly mortgage payment. I was very pleased. According to the broker/agent, my loan was going to be a breeze due to my excellent credit and job security. Little did I know that there was an error in the escrow/impound account. The previous lender had calculated the escrow at {$750.00}. Ladera Lending 's escrow only reserved {$340.00} which they did not add the property tax bill for XXXX and also 1.25 % of the purchase price at the time of refinancing. I am filing this complaint after I received an Escrow Account Disclosure Statement on XX/XX/XXXX. After XXXX years, my current mortgage company XXXX XXXX XXXX ) caught shortage in my escrow account due to Ladera Lending 's error. As a result of this shortage, XXXX XXXX is adding an additional {$1000.00} a month to my mortgage. As a consumer, I am focused on making the monthly payments and I assumed that with an impounded account, my property tax was taken care of.
Also, the broker/agent did not inform me about supplemental taxes which I recently learned was in a delinquent status until I paid off.
I am currently facing financial hardship as a single woman and a mom of two teens and this new payment will definitely put a strain on me. I have lived within my budget but unexpected things arise and I have recently paid off the supplemental tax ( XXXX with a late fee ). I am appalled and shocked to learn that I was not informed sooner about this error by a current mortage company. But Ladera Lending should have been more careful with the loan documents before releasing the loan. Especially, if it is an impounded account. What the broker offered was an attactive bait for offering a much lower mortgage payment and now, after a year and half go by, I learn that there was a error .... Most consumers do not have knowledge about escrow. That is why I opted for an impound account. I do not have the means to pay a large property taxes every 6 months. I trusted my lender to prepare the documents before releasing the loan. I do understand that the taxes do go up and mortages and fees go up slightly especially, with during this economic inflation. However, adding an additonal $ XXXX on anyone will significantly affect their budget and livelihood and I am one of them ....
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| 11/17/2018 |
No |
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Web |
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In the beginning of XXXX we inquired about a home equity loan from Ladera Lending. The loan was changed to a refinance and a previous lien on our property was discussed due to a commercial loan for our family company. The loan proceeded without any future conversations about the lien, only noting that it would need to be paid off first. However, after we received the appraisal, the loan was changed, my business debt was added to the loan ( against my request and better judgement ) and the commercial loan with the lien was removed from the refinance list. Still the process continued and we signed closing documents on XX/XX/2018, with a contract that the loan would be funded on XX/XX/2018. However, late XX/XX/2018, we were contacted about the commercial loan with the lien and a denial of knowlege about it. Next, we were asked to contact the company for the commercial loan to ask them to temporarily remove the lien so the refinance would be in the first position but that company 's policy is to file paperwork for subordination. The refinance company said that they couldn't do that, FHA wouldn't allow for it. After several personal and Ladera Lending attempts and conversations with the commercial loan company, over a period of now more than three weeks, the lien is still there and the loan has not been funded. No paperwork for the lien to be removed was ever filed or proper procedure for that to happen was followed. Meanwhile, we were asked to stop automatic payments and not to send in XXXX payments on our mortgage, auto loans, and all credit cards ( including business credit cards ) as they were to be paid with the refinance. We did everything asked of us but now we are being contacted constantly by credit companies, our mortgage is late ( for the first time ever, ) as well as our auto loans. Not to mention the detriment this has caused to my company. A serious payroll delay, 3rd quarter L & I payment, insurance, utilities, and lease payments are among the damages I have been facing during this situation. If the loan will not be funded, we would like to seek restitution for the damage that this situation has caused, including letters to credit bureaus taking responsibility for the late payments. As well as, any legal fees required to resolve this matter. This did not only impact our family personally but also the reputation of a company and business owner.
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| 03/05/2020 |
No |
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Web |
Older American |
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We were contacted by Ladera Lending in XX/XX/2019 as we were looking to refinance our FHA mortgage and take cash out to pay off debts and have additional cash to do home improvements, etc. We were approved and the loan closed XX/XX/XXXX. We received the checks to pay our debts on XX/XX/XXXX. We mailed the checks out but found out there were three checks in question. When we received a list of debts from the lender before closing, told them and also submitted documents of proof that there were three that should not be paid. One was to XXXX XXXX for a vehicle loan that we paid off in XXXX, the other two were for debts that were discharged in a prior bankruptcy. The lending agent and us both agreed they would not be paid and the funds disbursed to us instead. But when we got the checks from closing agent, that was not the case. We called them and they said we had to have Ladera fix it and they would reissue the checks. We have XXXX of void checks that should have been added to our direct funds that were wire transferred. We were told numerous times the checks would be reissued to us. The closing agent stated they could do nothing without lenders instructions. We were also told by our lending agent that the checks were going to be reissued by Ladera not the closer. That I heard today could not happen, closer had to rewrite and cancel the other checks. I was also asked by agent " why do you need the money so quickly, we just paid off all your debts and gave you money besides '' ... we are really busy and will get this taken care of. I asked when and was told the checks were mailed Monday, that was three days ago. All I received from them was a letter of loan transfer today, no checks. That really upsets me that it is taken lightly that we are owed this money. These funds were part of the mortgage refinance. The loan was already sold to another lending company, but until the loan is fully funded that is questionable to pay them. I am attaching emails, copies of checks and can document everything.
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| 12/06/2017 |
No |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Servicemember |
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On XXXX XXXX, I was contacted by XXXX XXXX XXXX a loan officer at a company titled XXXX XXXX in Southern California. I was looking to gain information regarding refinancing my home via a 5-7 year adjustable rate mortgage.
XXXX XXXX, later that day sent me correspondence for a 30 year fixed loan and an ARM loan, the ARM loan being not what I wanted, he said but did not tell me why I did not want it. I explained to him that I wanted an ARM loan due to it not needing an appraisal or pest inspection and the fact that it also offered me a lower rate.
When we spoke again, I was told he had found a 30 year fixed-rate loan and no inspection or appraisal would be needed. I explained to him then for the first of many times, I could not afford the inspection and appraisal. At another time he told me that unfortunately, the appraisal would be required but he would assume it in the cost of the loan, not to worry.
I decided to go ahead with the 30 year loan because the apprasal would be assumed into the loan and the old pest report could be used.
Time passed and he called me back and told me he needed a copy of my debit card to submit to the underwriter to get the loan approved ( that without the debit card print out the underwriter would not approve ) but he would not run it. He told me that he could find a way to assume the appraisal cost of {$600.00} in the loan. I agreed after again, telling him that I had no money in the account. To make a long story short, the appraisal that should n't have been required, was ordered by XXXX XXXX and the debit card was run, debiting {$600.00} from my account. I tried to handle it on my own. I canceled the pending refinance and chose another Iender and wrote the President of the Company regarding the Matter. I told them what happened and requested my money back I was contacted by the company twice, but only given the run-around. I do not understand why these companies are provider so much leeway to take advantage of consumers. Thank you.
XXXX XXXX
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| 06/27/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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On XX/XX/2022, I was contacted via telephone by Ladera Lending of XXXX XXXX, CA regarding mortgage refinancing options. The agent took some general information about myself and the property in question.
The agent asked if he could review some of my financial information which I agreed to. He did not request authorization to access my credit report. At no time during the conversation or my initial request for contact did I provide my social security number. When he asked if he could review some of my financial information I assumed it was the same information that lenders receive from the credit bureaus that help them market their products. That is general information such as general credit worthiness. It is not a person 's full credit report.
While I was on the phone with the Ladera agent, I received notification from XXXX that Ladera had made a hard inquiry and received my full credit report. I did not authorize this hard inquiry.
Since I did not disclose my social security number to Ladera, it appears that they fraudulently had my social security number in their possession and used it to access my full credit report without my authorization.
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| 05/04/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Improper use of your report
- Credit inquiries on your report that you don't recognize
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Web |
Servicemember |
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I spoke to this mortgage company about a potential loan. I was told they would take my info and send me an email requesting authorizing/more information. Instead they ran my credit without my consent. I called back 2 days later and complained and was dismissed by their mortgage person XXXX XXXX. Later that week, I received a call from their loan manager who told me they messed up and did not get authorization, he said the call was recorded and he listened to it. He guaranteed he would take my hard inquiry off my credit.
It is still not removed a month later.
Credit inquiry agency info : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, CA XXXX Record details On record until XXXX XXXX Inquired on XX/XX/XXXX XXXXXXXX XXXX on behalf of XXXX XXXX XXXX XXXX. This inquiry is scheduled to continue on record until XXXX XXXX
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| 11/30/2020 |
No |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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Ladera Lending of XXXX XXXX, CA ran my credit without my permission. I spoke with them but told them I wanted to get rates first as I was comparison shopping. I never gave them my Social Security number, but somehow they ran my credit as a got notice of a " hard '' inquiry. I called the number on the inquiry and they confirmed that XXXX XXXX of Ladera Lending ran my credit.
When I contacted Mr. XXXX, he said that XXXX XXXX provided my SS # and thought it was OK. I did sign up with XXXX XXXX to get rate quotes, but NEVER gave out my Social Security number or gave anyone the right to run my credit.
I am very upset and want to find out how this happened and have them undo the credit inquiry.
Thank you, XXXX XXXX
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| 01/10/2021 |
No |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I started an application to refinance my loan with Ladera Lending. I started going through process of signing refinancing documents when there was a document in the pack that I was not comfortable signing. I talked to the mortgage lender, XXXX XXXX, who told me the form was required to fund the loan. I cancelled the loan application by filling out a cancellation form and submitting it with the notary. When I go back from vacation, I found out that they ignored my right to cancel and processed the loan anyways. I was charged points and fees even though I canceled and submitted the cancellation with the notary. They will not give me a signed copy of my documentation nor are they responding to my requests.
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| 09/02/2015 |
Yes |
- Mortgage
- Home equity loan or line of credit
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- Credit decision / Underwriting
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Web |
Servicemember |
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I applied for a loan about XXXX days ago with Ladera Lending and I have been given the runaround about trying to get it processed. I am told that it 's still in underwriting and we are still waiting for a response. I have been waiting for underwriting for about 2 months now and it 's long overdue. They kept promising dates of estimated closing times which never happened and I feel like they are just wasting my time or playing games with me as a consumer. They state that it has been reassigned to another underwriting and that management has gotten involved but nothing is happening.
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| 12/08/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Improper use of your report
- Credit inquiries on your report that you don't recognize
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Web |
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Ladera Lending run my credit without my permission ; after reaching out to them on XX/XX/2021 asking why they run my credit and now i have a hard inquiry on my credit report and they should remove it. Ladera still haven't remove from my credit report ; there respond was could have been a system malfunction and they're not sure how an email was generate and send over with my rate turn have them to assume i want to start the process again of refinancing my home which was denied back in XXXX of 2021.
thank you
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| 05/19/2020 |
No |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Improper use of your report
- Reporting company used your report improperly
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Web |
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Ladera Lending ran the hard credit inquiry without my permission. I neither provided my social number directly to them nor XXXX indirectly when I made home refinance rate quote, and yet they still managed to pull the credit report. I talked to 5 lenders ( sent by XXXX ) including Ladera last few weeks, but nobody, except Ladera, pulled the hard report along with employment verification. Its very scary and unimaginable that they can do such things without any oversight.
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| 06/10/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Improper use of your report
- Credit inquiries on your report that you don't recognize
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Web |
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I filed a complaint ( ID : XXXX XXXX on XX/XX/XXXX about an unauthorized hard inquiry made without my consent.
I received a very nice phone call and letter from Ladera Lending admitting their error and their word both written and verbally, that they would remove the hard inquiry.
As of XX/XX/XXXX, all three bureaus show their hard inquiry on my credit report. They won't go away until XX/XX/XXXX.
Can you make them do what they promised and remove the hard inquiry?
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| 11/13/2020 |
No |
- Mortgage
- Conventional home mortgage
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- Improper use of your report
- Reporting company used your report improperly
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Web |
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| 08/05/2019 |
No |
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Web |
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| 10/11/2018 |
No |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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| 07/18/2013 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Settlement process and costs
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Web |
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| 05/18/2013 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Application, originator, mortgage broker
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Web |
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| 02/25/2013 |
No |
- Mortgage
- Conventional fixed mortgage
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- Application, originator, mortgage broker
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Web |
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