Lenderfi, Inc. CFPB Complaints

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2000 Latest Complaints
Date Received Timely Response Product Issue State / Zip Submitted Via Tags
08/02/2018 Yes
  • Mortgage
  • Conventional home mortgage
  • Applying for a mortgage or refinancing an existing mortgage
  • TX
  • 77469
Web
I started out wanting to refinance my home with a cash out refi. I found LenderFi online through XXXX. Initial estimates from the company ( XX/XX/2018 ) said that I could get a 4.5 % interest rate on a 15 year mortgage, and we estimated our home to be worth about {$230000.00} based on county tax records. My first red flag was when they told me my credit score was 30ish points lower than any other site was telling me. They told me that was normal, and they tend to fluctuate. Ok, I can buy that ... who understands how those scores are generated anyways. The second red flag was when the appraisal ( XX/XX/2018 ) came back with a value of {$190000.00}. The Appraiser, from XXXX XXXX XXXX, did not count all the square footage of my above-grade GLA. I brought this to the lenders attention XX/XX/2018 via email. The third red flag was when the closing disclosure document had an interest rate of 5.25 % ( XX/XX/2018 ). I was then further pressured to sign the document so that they could proceed with processing. I am not about to sign a document with numbers on that I don't agree with or understand. I'm not THAT stupid. ( XX/XX/2018 ) I called and spoke with the lender rep, who was very kind and understanding, and explained that because the home didn't appraise for more, they had to charge me more interest. I then asked him to please ask the appraiser why he didn't include my entire GLA on his appraisal report as this seems to be the root of problem. He said he would look into it and get back with me. My husband and I have tried to call the lender and I have tried to email them several times and I have not heard back from the lender since. During our final conversation I stated that I either wanted a fair appraisal, or my money back for the appraisal so that we could go to someone more competent for a fair appraisal. I am out {$500.00} ( appraisal fee ) and am now starting the process over with my trusted XXXX XXXX Rep with whom I have a long-term relationship.
05/24/2022 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • MA
  • 01845
Web
LenderFi is my mortgage company and has failed to make my homeowners insurance payment. This is the fourth time they have failed to pay escrowed items. The first three times they failed to pay my taxes, to which the town charged me late fees after I manually made a payment from my bank account ( not from the escrow ). When that happened, they refused to reimburse me from the escrow for many months. LenderFi never paid back my late fee. I eventually got reimbursed for the tax payments I made from my checking account, but was out thousands until then. I got them to drop the tax escrow, and now pay that myself. I still have them escrow the insurance. They have failed to pay the insurance despite being contractually obligated to pay it from my escrow account. The only reason I pay the insurance through escrow is that they require me to prove that I paid ot each year, or else they will sign me up for expensive insurance and force me to pay for it. Since they are incompetent and can't pay my escrowed items on time, how can I trust them to be staffed well enough to process my proof of insurance in a timely manner before they enroll me in expensive insurance. I have tried contacting them on their most recent mess-up, but their website won't let me on to see their phone number since I'm traveling XXXX. I'm also fed up with the run around in given every time I have to call to fix this ongoing issue with LenderFi 's incompetence surrounding escrow. Please get them to pay my escrowed bills on time and in full. Please also tell them that they need to do this consistently with all their customers. I feel trapped since I can't escape them via refinance since the rates have climbed so much. Thank you for your time.
11/10/2020 Yes
  • Mortgage
  • Conventional home mortgage
  • Applying for a mortgage or refinancing an existing mortgage
  • CO
  • 80128
Web
Submitted loan application to LenderFi on XX/XX/2020 using a link I had saved in my computer bookmarks folder from a previous website visit. There was no indication on the page I submitted application that LenderFi was no longer taking applications. LenderFi 's application system automatically pulled my credit upon submission even though LenderFi was not taking applications at the time my application. LenderFi acted in bad faith and pulled my credit with no intention of offering me a loan. LenderFi violated 12 CFR 1026.19 as I provided LenderFi the six pieces of information required to receive a loan estimate in good faith. The automated application system loan estimate was not accurate and not based on current market rates. I called via telephone and emailed XXXX XXXX on XX/XX/2020. XXXX did not return my phone call or respond to my email asking for a good faith loan estimate based on my specific refinance. I again emailed XXXX XXXX on XX/XX/2020 and asked him to provide an accurate loan estimate. He did not respond. I again emailed XXXX XXXX on XX/XX/2020 and he refused to provide a loan estimate. He claimed LenderFi 's website was not taking applications and it was my fault for applying for a loan. I replied to XXXX XXXX as stated above, I had the website link saved and it was no fault of mine that I applied. I again emailed XXXX XXXX on XX/XX/2020 asking for a good faith loan estimate since LenderFi had pulled my credit and not provided me me a loan estimate. XXXX XXXX did not respond.
12/21/2020 No
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • VA
  • 22003
Web
We prepaid roughly $ 3k in escrow during our home refinance experience with Lenderfi. Several months later, we learn no payments were made to our home insurance firm, XXXX XXXX and we received a threat of cancellation notice in the mail from insurer. We called Lenderfi, were told they had computer issues that had complicated payment and they had been resolved on XXXX XXXX during my phone call with customer service. A week later, our insurer told us that never happened, they still hadn't been paid. I called Lenderfi again on XX/XX/XXXX and was told they weren't able to make an escrow payment as someone had failed to input our insurance information into their computer system although we had been making and they had been keeping escrow payments. We were told this was elevated to manager level and would be handled within 48 hours. Today, XXXX XXXX, our insurer told us they still hadn't gotten anything from Lenderfi. I again called Lenderfi and again they said nothing had been done yet and asked us if we could front them the $ to avoid the cancellation notice and they would " pay us back. '' Three days before XXXX. As I sat in a parking lot with a XXXX year old and was bounced between one customer care person to another.
12/15/2020 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • WA
  • 98006
Web
Lender fi is the mortgage company I refinanced around XX/XX/2020 with P pay Lenderfi.com with mortgsage PITI+ Escrow to take care for Insurance and Property Taxes. Both Insurance and Property Tax are due by XX/XX/2020, Unfortunately, They did not pay both on time, I paid Insurance after getting notifications from the Insurance agency on revoking insurance, I reached out to LenderFi to remove Escrow and have myself handle the Insurance and tax, this was in XX/XX/XXXX week, They asked for all the documentation and signature and in the meantime they were collecting Escrow every month. I received a property tax non-payment notice from the county since the escrow removal process was started with I went ahead and paid the taxes and XXXX county did not force any penalty or interest from my own bank account. While I was waiting for escrow removal. In the XXXX week of XXXX, I recieve a letter that Escrow removal is not possible due to not having a long history and they never even ackoweldged thier mistake to refund the money I paid out of my pocket while they collect these everymonth from me. The service has been slow and non-responsive except for we are looking into it mails
12/01/2021 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • VA
  • 20155
Web
I recently requested with LenderFi this past XXXX to have XXXX removed from my current mortgage I hold with them. Removal request documentation was received and I responded to it promptly, and an appraisal was ordered. A house inspector came on XX/XX/XXXX and sent results off to an appraisal group that LenderFi is using on the XXXX. Unfortunately, all progress has come to a halt on LenderFi 's end. I have yet to get any status on the XXXX removal request beyond being told to continue waiting for the appraisal to come back. I have tried contacting LenderFi three separate times by speaking with customer service to get a status update. However, I keep getting the run around and told to check back in two weeks every time I call. Last time I spoke with a customer service rep on XX/XX/XXXX, I was told to continue waiting until XX/XX/XXXX. Unsure how an appraisal should take this long considering if this was a house purchase this would be totally unacceptable, yet when its the bank that stands to lose monies collected for XXXX its okay to be dragged out for months.
01/14/2016 Yes
  • Mortgage
  • Conventional fixed mortgage
  • Settlement process and costs
  • OR
  • 97128
Web
LenderFi, Inc. created multiple delays in processing our loan documents, eventually necessitating a rate lock extension with a {$780.00} fee. At one point we were told that documents faxed in by our agent had mistakenly been sitting on someone 's desk for 3 weeks. In addition, the morning the appraisal was scheduled we received an email stating that we failed to qualify, and so we delayed the appraisal over a weekend, by which time they had reversed this position and we were able to have the appraisal immediately performed. LenderFi President XXXX XXXX told us that they would only pay half of the {$780.00} fee due to our role in delaying the appraisal, which we agreed to. He stated on XXXX ( via text message to our real estate agent ) that he was mailing a check for {$390.00}. We have yet to receive this check, and have been unable to contact him since.
10/26/2016 No
  • Mortgage
  • Conventional fixed mortgage
  • Application, originator, mortgage broker
  • CA
  • 93065
Web Older American
We applied for a refinance on our property in california. We were continually assured that the loan would be approved ( excellent credit and loads of equity ) We were required to pay for an appraisal ( {$510.00} ) and a subordination fee that had to be overnighted ( {$250.00} + {$50.00} ). After nearly 10 weeks on this loan and the mountain of paperwork we sent to them I called them only to find that they claimed we did not qualify. Their only explanation of debt to income did not make any sense. I have requested a further explanation to no avail. We want our upfront monies back and we want all the papers associated with this loan with a full explanation.
07/02/2020 Yes
  • Mortgage
  • Conventional home mortgage
  • Applying for a mortgage or refinancing an existing mortgage
  • TX
  • 77498
Web
I applied for a loan on Friday XXXX/XXXX/2020. I've sent number messages to my loan officer on getting a loan estimate. Loan officer does not respond. I sent an email to the lender on XX/XX/XXXX and they never responded/called me. I provided all the required information and lender pulled my credit report. Lender is supposed to provide a loan estimate within 3 business days. It is now more than 3 business days.
12/12/2020 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • GA
  • 30022
Web
I have my mortgage with lenderfi. I have paid a few extra payments over the past few months. The companys ledger is very complicated and I could not reconcile their balance with mine although we all agreed on the payments I sent. The difference is roughly a few thousands. I asked for a transaction by transaction ledger which they failed to provide over the last two months.
02/29/2020 No
  • Mortgage
  • Conventional home mortgage
  • Applying for a mortgage or refinancing an existing mortgage
  • PA
  • 17602
Web
I applied for a mortgage on XX/XX/XXXX and the Lender has not contacted me and has not provided me with a Loan Estimate within the 3 business day requirement. I have left multiple messages and contacted them through their system and received not response from them. I have uploaded all the information they need for my application.
09/16/2020 Yes
  • Mortgage
  • Conventional home mortgage
  • Closing on a mortgage
  • CA
  • 951XX
Web
Lender without my authorization pulled a hard credit inquiry of my credit report before funding. Loan processor confirmed it would be a soft inquiry but was a hard inquiry.
03/15/2021 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • MA
  • 02176
Web
12/03/2020 No
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • MD
  • 20815
Web
09/10/2020 No
  • Mortgage
  • Conventional home mortgage
  • Applying for a mortgage or refinancing an existing mortgage
  • AZ
  • 85004
Web
05/23/2017 Yes
  • Mortgage
  • Conventional home mortgage
  • Applying for a mortgage or refinancing an existing mortgage
  • CA
  • 94928
Web
06/28/2013 Yes
  • Mortgage
  • Conventional fixed mortgage
  • Settlement process and costs
  • TX
  • 77008
Web
05/14/2013 Yes
  • Mortgage
  • Conventional fixed mortgage
  • Application, originator, mortgage broker
  • TX
  • 76008
Web