Ditech Mortgage Ratings |
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 I just cancelled my loan with Ditech |
| I just ended up canceling my loan with Ditech. I wish we had read Ditech reviews before I ever picked up the phone to call them. I swear, they have no clue what they are doing.. One rep will tell you one thing while another loan agent will tell you something completely different. I swore everyone I spoke with was in their first week on the job. They didn’t phone calls when I repeatedly left messages concerning errors in their paperwork processing of my personal information. I had to resubmit information several times and then was accused of counterfeiting pay stubs to get a better rate on my mortgage! This was so irritating. I sent in years of paperwork documenting everything and they ended up accusing me of fraud. I was told I would not have any hidden fees, yet when I saw my first statement, they had added on a $600 surcharge for no apparent reason. I ended up bailing out today, because I can see a disaster waiting to happen. They have no clue what they’re doing and my experience with them thus far has been one of the worst ever. STAY AWAY FROM DITECH! |
| Never Use Ditech |
We were approved for a loan with Ditech on the spot - no income verification because our score was excellent. Not that it mattered because we had it. We had our 20% to put down. We had one month to close on our dream retirement home. Everything was in order the appraisal was done (which came in low) and we had already paid for our homeowners insurance. One week before the closing we were told they could not do the loan because of an old foreclosure that we told the about up front on the application and had discussed the circumstances. I was so mad and upset I cried. No compassion or further explanation and nobody would answer there phone anymore. NEVER USE DITECH! |
| Don't do business with them |
I came really close to refinancing my mortgage with Ditech. The process started out okay as the first loan agent (ie. order taker) was extremely friendly, but after I saw through her friendliness, I quickly realized that she had NO CLUE what she was doing and wasn’t able to answer any questions! I wanted to ask if she even knew what a mortgage was! She would ask us for documents and then ask us again right after we had submitted, because she wasn’t sure where to send various pieces of paper. She had no clue. When it finally came time to wrap things up, I was given several different rates. It turns out the final rate wasn’t even close to what they had originally suggested. We were waiting for the appraiser for 2 weeks, who would not return phone calls, and then decided to call when he was on his way to the house. We weren’t able to make it, so we ended up missing that appointment. I had to wait another week to get the house appraised and still nothing had been notarized. I backed out of Ditech before it was too late. I started reading reviews on several sites including mortgagelenderreviews.com and feel I made the best decision. |
| Bad appraisal, lost paperwork, and more |
First, Ditech approved my HELOC. They provide me all the rates, terms, and fees. I signed all of the papers and they sent an appraiser to my home. It turns out the appraiser appraised the house at $40k less than the appraisal done two months before by a different lender. I was a bit irritated, so I called them up and they sent another appraiser out and the pricing was much closer. Fast forward a week and I hadn’t heard anything so I gave them a ring. They told me that they needed morel information on a mortgage I had obtained several years prior. I gave them the information as they asked and they finally called back saying they needed more. So I sent more details and was told everything was okay. They ended up messing up the paperwork again and had to send out a 3rd appraiser because they lost documents. This was enough for me to realize that they didn’t know what the heck they were doing. I ended up cancelling my application and after reading a lot of complaints, I’m glad that I did. I think most people are suckered into the Ditech commercial you see plastered all over TV. |
| Just backed out |
I was going to do my mortgage refinance with Ditech.com. However, after reading a lot of the reviews here and on a few other internet sites, I don’t think I’m going too. I’m noticing that people have hundreds of complaints about Ditech regarding their business practices. They’re known for billing customers for services that have never been rendered. Read other reviews, Quicken and WaMu seem like much better choices. |
| Watch out. They'll change your loan without telling you! |
| First of all, Ditech made a mistake in the paperwork for our loan. Our loan agent, checked the wrong box and filed our application for a s single family home instead of a condo. This caused a slight delay in the application process; however, in the middle of the process our rates changed. After we got this straightened out, the appraisal came in too low. In that it was off by about $90,000!. After waiting for my loan proceeds to arrive, I received a phone call from my loan officer telling me that they would need to rewrite my loan again (for the 3 rd time). However, this time, the loan would be $12,000 less than what they had originally agreed upon. They never called me to discuss this or get my approval. They simply went ahead assuming that I wouldn’t miss 12,000 dollars. They never really did any follow up phone calls to make sure I was aware of what was going on. I had to continuously call them to get updates, or to make sure things went as planned. This bothers me when I’m trusting them with such a huge financial decision. Try to find a lender with better customer service. Maybe Norwest? |
| Bait and switch |
In my experience, Ditech is a classic 'bait and switch' operation to a T. I would recommend just calling up your local credit union or bank. They can probably get you and get a better deal. |
| Bait and switch is right |
I applied with Ditech Home Loans for a Heloc and was quoted a rate of 9.15%. Their appraisal came in at $267K for my home and my loan agent told me on September 26 that I would still receive the 9.15% rate. I completed the lending documents on October 3, 2006 which indicated a rate of 9.15%. However, only a few days later my loan agent contacts me and says he made a mistake and actual rate would be 11.55! This was after I signed documents for that rate and even a document with errors would not affect the rate or repayment amount. Now I am being told that I need to authorize the higher interest rate if I want the loan. Can we say bait and switch? Even if this was an honest mistake, I have already moved forward in adjusting my other finances and loans to accommodate them. Now I’m stuck in the middle and not sure what to do |
| Look around before you deal with Ditech. |
| I have been waiting to close my loan now for over two months, even though my loan was approved over 5 weeks ago. If its not one thing, it’s another. Some piece of paper is missing, then a signature, then something is lost, then the appointment is cancelled. The only time the called me back was to tell me that my house didn’t appraise for what they thought it was worth. The funny part is it actually sold for 25,000 more than what the Ditech appraiser appraised it at. Don’t waste your time with Ditech. You heard it here first. |
| Hidden fees, rude customer service, and more hidden fees |
I have a HELOC that was bought out by Ditech. I assumed everything would go as smoothly and that my payments would be the same. It turns out that they had messed up a month and ended up charging me an enormous late fee for my missed payment…well it was “THEIR” error and they were almost impossible to deal with. I had to talk to 4 different people for them to finally wave the late fee due to their own billing mistakes. Since then, I’ve found that they have extremely rude customer service and I swear they are not in the business of lending. They are in the business of charging late fees. Read the other Home loan reviews on Ditech here and you’ll see I’m not the only one who wouldn’t recommend them. – Julie. |
| Another negative Ditech review |
| About 10 years ago, I paid for my home in cash due to an inheritance. I was looking for a debt consolidation option to get some extra money to make home repairs and I ended up giving Ditech a call. I went through the entire application process and was given a closing date. Several weeks went by and everything seemed okay; however, the night before, they called me to tell me that my loan had been cancelled due to a problem with a signature on one of the documents! After tracking down my loan officer, he called me and told me that my loan amount was off by $400. Had they told me this a few days earlier I would have never had a problem. They don’t seem to care about their customers, and really keep you out of the loop. I had to pester them just to figure out what the heck was going on with my loan. After this experience, I wouldn’t recommend them to anyone. |
| Finally got rid of Ditech |
I heard that Ditech Home Loans is part of GMAC although I’m not positive. My husband and I used GMAC for our first mortgage for the last 7 years and it has been problem after problem. They constantly lost our payments, forgot to send statements, and they messed up on taxes and insurance not getting paid when funds were in escrow. We were a day from closing our loan and we were still arguing with them over 1500.00 in fees from 3 years ago that were suddenly added to our account. I‘ve called them dozens of times and sent many letters with no success. They won’t even tell us what the fees are for. WTF. I’m stoked to have gotten rid of them, we will NEVER do business with Ditech again. |
| They gave me a bad offer |
I came really close to using Ditech mortgage for my HELOC. I completed everything online and then someone is suppose to bring you paperwork to your home to sign. Everything looked great, but when the man came with the paperwork, he basically said that we were getting screwed over on the interest rate and we should think twice. I spoke it over with my wife and shopped around and ended up going with someone else altogether. Hope this info helps you in your mortgage search. This isn’t the first Ditech complaint I’ve seen. |
| Ditech overappraised my house |
My loan was approved about six weeks ago, and I have now been waiting for almost 9 weeks. Every time I call, they refuse to take responsibility. Then they finally that they over appraised the house, even though similar homes on my street are selling for much more. This has been a joke. If you use Ditech, watch out for their appraisal values and get a second opinion. |
 They're just okay |
I've been with Ditech for about 2 years now. While I won't say they are the worst, they're definitely not a company that I would recommend. I don't think they're customer service is that helpful and on several occassions, I found them to be quite rude. I haven't had any hidden fees or late fees that I've read about in other home loan reviews, so I can't complain there. I thought there rates were fairly competitive and the closing process was pretty quick. Like I said, they're just okay. If you're looking for a loan, you can check them out, but I'd probably look at Norwest or Countrywide First. |
| They never called me back. |
| I applied for a loan through Ditech loans. Even though they had sent me a pre-approval letter, they never followed through. I had an offer placed on a home and I told the loan agent that time was of the essence. I spoke with my loan agent on several occassions, who promised me that they would expedite the closing. Well, I'm not sure if this person left the company or what, but henever even called me back after I left several messages for him and his colleague. I did get a decent rate with them, but I guess they didn’t want my business. They seemed friendly, but I wouldn't trust them if they can't even return a phone call. |
| We cancelled with Ditech, went elsewhere |
| Ditech is hardly a professional company! After we were qualified and completed all of the necessary paperwork, The loan processor contacted us on 4/7/06 to schedule the closing on 4/10. She said she would call within 48 hours of closing, but she never did. I ended up calling and speaking to a few other agents there and no one was able to help me out. I left 2 messages for my loan agent, but she never returned our call. The attorney did call us and told us that he never had received the paperwork. He said he would dig it up and be at our condo the next day. Well, he flaked and never showed up. I called them back to find out what happened and again, I left a voicemail without hearing anything back. After 2 cancellations and the lack of customer service we decided to not even bother with them. We cancelled the closing entirely. |
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