LoanCare, LLC
Consumer Complaints
There are over 2906 complaints on file for LoanCare, LLC. Dated between 2019-12-04 and 2012-06-13.
Complaints Page 10
2019-09-28
Cordova, TN
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Account status incorrect
Complaint: By far the worst experience I ever had with any financial company. This company is scam and should be shut down!
This company is violating the laws ( UDAAP ) and needs to be held accountable.
My story : Unfortunately I foreclosed on my home in 2018 and received a debt cancelation documentation from my lander at the time ( XXXX ). I ended up taking a huge loss and paying almost 30k to IRS to cover this free money that was forgiven by lander.
This other company started contacting me recently via mail ( LoanCare ) stating that they are my lander now!?!?!?!?! How can they be my lander if I dont even have an open loan ( with them or anyone else ).
I contacted them attempting to clarify and resolve this mix up. I was already upset and wasnt very nice to several reps/managers who were asking me ridiculous questions and not willing to help in any way. Only thing I was asking is to be removed from their mail list and for them to stop contacting me about the loan I no longer own.
Well, someone from this company decided to retaliate and reported a new open loan with 24 no/late payments to the credit agencies.
My credit score went down 150 point for the loan that I dont even have!?
After several hours on the phone, I spoke to two different supervisor and no one could tell me what in the world is happening. They both ensured me this will be handled with urgency and this remarks will be removed from my credit report.
Well, 2 weeks later nothing was changed.
Just spoke to another rep from this company who refused to transfer me to one of the supervisors, was extremely rude and obnoxious and ended up transferring me to no one ( hanged up on me ).
This is completely unacceptable and I'm counting on CFPB to assist me resolve this situation and quickly.
I did some research on this company and couldn't find a single positive review from any of their customers.
Please contact me if you require more information.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-27
San Diego, CA
Problem with a credit reporting company's investigation into an existing problem
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Their investigation did not fix an error on your report
Complaint: I have been working to build my credit over the last year in order to secure business funding for my growing company. I recently took out a home loan 5 months ago and had gotten my score to over 768 points with XXXX the primary bureau that business funding looks at.
When I went to apply for the much needed business funding, I was informed that I was denied due to my Mortgage loan reporting a 30 days late in XX/XX/2019. This dropped by score below 700 which was the minimum requirement for funding ... I called the company administering the loan " LOAN CARE '' and found that my loan had been sold to their company and that they would be my new servicer of record. This was fine, but I was not past due and they admitted on a recorded line that they had made a mistake. They told me it would be resolved and updated.
I also submitted a dispute with XXXX directly as to ensure that Loan Care would be held accountable. I was notified this morning however that Loan Care " validated the 30 days late '' and XXXX denied my dispute and will continue to report the late.
I have since this morning re-disputed the item with the 3 major bureaus and written my 3rd email to Loan Care support with no replies.
I have drafted a letter of complaint that I will attach outlining the facts and details of my situation, but ultimately they have reported in error and it is impacting my life dramatically.
Please help me get this resolved!
XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-27
Holladay, UT
Problem with a credit reporting company's investigation into an existing problem
Mortgage: Conventional home mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-27
Pinellas Park, FL
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-27
Fred, VA
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-26
Hon, HI
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-26
Days Creek, OR
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-25
CA
Trouble during payment process
Mortgage: VA mortgage
Complaint: My Complaint is against XXXX XXXX XXXX XXXX and Loancare , LLC. Our VA Loan was sold and transferred to Loancare on XX/XX/2019 along with the total payoff loan amount. As of today XX/XX/2019 Loancare insists they do not have the payoff funds.
I am getting phone calls from Loancare informing me of missing payments on a loan that has been paid off in full. I phoned to inform them the loan was paid in full and their response was ''prove it ''. I have not recieved our impound balance that was also transferred to them. It appears to me they are violating the 60 day transfer rule and about to violate the 30 day rule to return the impound money to the borrower.
Someone should conduct an investigation of this agency. Thank you
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-25
Anaheim, CA
Trouble during payment process
Mortgage: FHA mortgage
Complaint: To whom it may concern, I purchased my property in XX/XX/XXXX. In XX/XX/XXXX, I reached out to my loan servicing company to have my PMI removed. According to the company, I needed to have one of their approved appraisers go to my home to have it appraised before the PMI could be removed.
They stated to me that the cost would be {$580.00} to have one of the approved appraisers come to my home. I paid the {$580.00}, the appraiser came, and my house was appraised appropriately.
After I received the appraisal, my loan-to-value ( LTV ) was below 80 %. On the company 's website, it claims that my LTV must be 80 % or below to remove the PMI. However, I received letters and have called the company several times and they have stated that my LTV must be 75 % in order for the PMI to be removed. I did not receive any paperwork or any statement at all that stated that my LTV needed to be at 75 % in order to remove the PMI.
I have reached out several times to this company, been on hold for hours, and keep getting transferred, rerouted or told I will " get a call back ''. I have also requested a refund of my {$580.00} appraisal fee. However, I was told that since the appraisal was completed, I can not receive a refund for the cost of the appraisal.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-25
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-24
CA
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: My mortgage was transferred from XXXX to XXXX/LoanCare, LLC on XX/XX/2019. And when I started making payments to LoanCare, they been mis-handling my payment of $ XXXX/month.
Up-to-today they haven't fix the problem, despite my numerous phone calls and correspondence. They keep saying that I'm short on my payments when in fact I been sending those payments before the first of the month.
They keep on failing to make the promised corrections when I talked to their representatives.
I hope that your office would be able to assist me in this regards.
Thanks XXXX XXXX XXXX XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-24
Little Rock, AR
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: Please see if you can follow what has happened and why we are so upset with LoanCare LLC.
Our payment should have been corrected in XXXX of 2019 by escrow department to {$2200.00}. XXXX but has not.
With a actual needed mortgage payment of {$2200.00} and a requested mortgage payment they are showing in their website is {$2900.00}, they are inferring a {$7900.00} shortage.
That is bizarre.
XXXX and Loancare were expecting to pay insurance of {$15000.00} in XXXX of 2019 but the real insurance amount paid is {$7900.00}. We changed companies to get a better rate. New insurance came into effect XXXX XXXX and was paid XX/XX/2019.
If they paid incorrect amount to prior insurance company, that would have been refunded to them and would be there to pay new insurance company. Actually, there should be an overage in escrow accounts.
So there would be no shortage in escrow accounts. There is no shortage in escrow accounts absent theft or mismanagement.
So looking at the escrow account amounts shown LoanCares website, they are now showing proper amount for taxes and insurance but you have not changed the payment to reflect that.
If you add {$1000.00} x12 which equals {$12000.00} needed for mortgage payment to principal and interest. Add to that property taxes of $ XXXX+XXXX+ homeowners insurance of {$7900.00} you get a total annual outlay of {$27000.00} When you divide that amount by 12 you get the monthly mortgage payment needed of {$2200.00}.
{$2900.00} x12 = {$35000.00} That is {$7900.00} more than they need to pay for everything associated with our loan. That is a huge shortage they are asserting.
After our XXXX letter to the escrow department we determined they were not going to change the payment amount so we started paying in {$2200.00} as the correct amounts of mortgage payment.
Now the collection department is asserting missed payments.
And is threatening late fees etc.
Regards, XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-24
Washington, DC
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-24
Fort Pierce, FL
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-24
Sherman Oaks, CA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-24
NJ
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: This is the response I received from LoanCare my mortgage company when I asked them why are they charging me a fee on my payment. This loan was transferred from a previous mortgage to Loan care with the contractual agreement that I had a 15 day grace to make my payment without any fees and now it seems they found a way to circumvent the system and charge me a processing fee because I making a payment online. I think this is predatory and blatant wrong the part of this company. I feel they are trying to squeeze every penny they can from their clients. Where is the consumer protection?
Dear Valued Customer, Thank you for contacting us.
We have received your recent inquiry regarding your mortgage account. Your mortgage payment is due on the XXXX of each month and you are provided with a 15 day grace period. Over the website the processing fees starts at {$5.00} after the XXXX of the month and then {$10.00} dollars after the XXXX of the month. If you want to avoid processing fees please make payment before the XXXX of the month or you can look into setting the account up on auto draft. For further assists please contact Customer service at XXXX Please DO NOT REPLY to this email. Your request has been marked resolved and this ticket has been CLOSED. Replies to this resolved ticket will not be monitored. If you need further assistance or have additional questions, please submit a new request by visiting our website and logging into your account.
Sincerely, Customer Support XXXX XXXX XXXX XXXX XXXX, VA XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-24
Apple River, IL
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: Since our local bank sold our mortgage to LoanCare LLC, they have TWICE failed to post payments our bank guarantees LoanCare received. In the commission of those errors, they have also attempted to assess late fees. After LoanCare made the 2nd error, we sent a certified letter with attached proof of payment to LoanCare instructing LoanCare to acknowledge receipt of our letter within 5 business days, correct the error, remove any fees associated with their error, and correctly post our payment on the date it was received within 30 days of their receipt of our certified letter. The letter provided written instructions to contact us by mail for further information they might need to correct their error. We have received neither acknowledgment of their receipt of our letter nor communication requesting additional information or time necessary to correct their error. These errors are common for LoanCare and in continuing to make the same error repeatedly are in violation of the terms of our mortgage as well as in violation of Federal law under the Error Resolution Notice Act 12 C.F.R. 1024.35.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-23
Palos Park, IL
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-23
Scottsdale, AZ
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: In XXXX of this year LoanCare LLC took over the servicing of my mortgage after the bankruptcy of XXXX. The first statement from LoanCare showed an additional {$12.00} added to the amount I was supposed to pay and categorized as " Total Fees and Charges ''. There was no explanation as to what these fees were for. The amount continued to show up on successive statements. I continued to pay the mortgage amount that XXXX 's final statement indicated.
On XX/XX/XXXX of this year I sent a letter to the customer service address indicated on the back of the statements. I have not received a response to this day nor has there been any effort on LoanCare 's part to resolve this issue.
It was not my choice to have this company service my account. I had no choice in the matter. I feel that they are not honoring their commitments and are not dealing fairly. I think it's likely they are doing the same thing to other XXXX customers that had this situation thrust upon them.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-23
Loveland, CO
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-23
Lewisville, TX
Struggling to pay mortgage
Mortgage: FHA mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-23
Clayton, MO
Struggling to pay mortgage
Mortgage: FHA mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-23
Fort Worth, TX
Trouble during payment process
Mortgage: FHA mortgage
Complaint: I have been contacting my mortgage company regarding my XX/XX/XXXX property taxes back since XX/XX/XXXX. Every time I call they tell me the issue has been escalated and that they will take care of it right away. As of today XX/XX/XXXX my XX/XX/XXXX property taxes have not been payed. I keep receiving calls from the Tax Assessors Office notifying me of this issue and I need help.
They can not provide me with answers as to why my taxes have not been payed if I have not been delinquent on my mortgage payment ever.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-22
Wattenburg, CO
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: I was previously with XXXX XXXX XXXX and they accepted biweekly payments. I made a payment in the amount of {$900.00} on XX/XX/XXXX for the first half of XXXX payment. My loan was then transferred to loancare on XX/XX/XXXX. During this process my payment of {$900.00} was applied to principal instead of the payment ( wouldnt be a big deal if I had {$900.00} extra dollars ). I paid the remaining {$880.00} for XXXX, paid {$1700.00} in XXXX and {$1700.00} in XXXX. I have called or emailed Loan care over 15 times in the last two months and spent hours to try to resolve this and have the payment corrected- XX/XX/XXXX, XX/XX/XXXX, also sent email correspondence, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX called and emailed, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX & sent email correspondence and mail on XX/XX/XXXX. I have spoken to several managers whom dont call back or do what they say and staff that are incompetent and also dont do what they say. I have done three way calling with both companies and they are now charging me late fees.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-21
Sandy Hook, CT
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: MY MORTGAGE CHECK HAS BEEN STOLEN BY ONE OF LOANCARES EMPLOYEES -- >ACCOUNT OF ATTEMPTED IDENTITY THEFT BY A LOANCARE EMPLOYEE -- < XXXX XXXX Acct # xxxxxxx LoanCare Mortgage Acct # xxxxxxxxx SS : xxxxxXXXX INCIDENT DESCRIPTION ; My bank -- -- issued an automatic payment check payable ( mailed ) to LoanCare , LLC ( copy attached ) in the amount of my XXXX amount due ( {$1900.00} ). The check was stamped Received XX/XX/2019. Yesterday, I received a hand-written letter from a XXXX XXXX ( XXXX ) of XXXX XXXX XXXX, XXXX, NJ XXXX. ( Relevant documents attached. ) The letter to me claimed : 1. LoanCare LLC had written her a letter enclosing a copy of the above check ( my mortgage amount ), with the Credit to the account number ( old XXXX mortgage account number ) typed above Pay to the order of LoanCare , LLC ; 2. She said that LoanCare LLC alleged in that letter that the amount of the check had been erroneously deposited towards her mortgage which was sold over a year ago ; 3. Because her account had a XXXX balance, LoanCare was returning the check to her ; 4. Along with my NEW LoanCare account number!!! And 5. She was being extremely conscientious about writing me about this mix up so that this mix up on their part does not cause you any added grief or stress ; and 6. She enclosed the To whom it may concern, memo she says she sent to LoanCare LLC notifying you that ( a ) Mr. -- -- -- had accidentally put the wrong loan number on the check ( a type-in number by my bank is no accident ), and ( b ) And, The representative at LoanCare LLC also asked me to include Mr. -- -- - 's loan # xxxxxx ( WHY? ) Question : Where is the physical check made out to LoanCare LLC???
Another question : What would be the reason for LoanCare LLC to send my check to her?
Further : ESPECIALLY WITHOUT CASHING IT, since they evidently KNEW the new LoanCare #?
Further : My bank noted that LoanCare had cashed my XXXX check by looking up that #!!!
This is a ( pathetic ) attempt to steal my identity and bank information.
I have closed the account the mortgage payment was drawn on, opened a new account, and paid my mortgage on the phone today. ( I need to get a refund for the {$15.00} phone payment fee. ) I have notified the police in XXXX, CT, of this attempted identity theft.
LoanCare LLC needs to launch an immediate investigation of its payment processing personnel!!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation