We received this snail mail solicitation from LoanDepot offering to refinance our home for the exceptionally low interest rate of 3.125 percent. First red flag was it came in one of those tear and open envelopes labeled boldly as containing confidential information(a ruse to get us to open envelope). Second red flag is the mortgage interest rate is almost a point lower than Quicken, LendingTree and other more reputable lenders. This could only mean loandepot is being flagrantly dishonest which is consistent with exceedingly high number of their negative to horrible reviews.
Finally, their condescending language “if you take no action, you will continue to pay the existing interest and fees on your home loan” indicates they believe their potential customers are stupid.
I would not touch these deceptive lenders with a 10 foot pole!