LoanCare, LLC

2019-07-26

Bostonia, CA

Struggling to pay mortgage

Mortgage: VA mortgage

Complaint: LoanCare LN XXXX XXXX XXXX XXXX # XXXX, XXXX XXXX CA XXXX XXXX XXXX Short Sale was started with XXXX on XX/XX/XXXX. It was service released to LoanCare XX/XX/XXXX. XXXX forwarded the ENTIRE package to LoanCare upon the service release. We emailed our authorization to LoanCare, per their request on XX/XX/XXXX. Today, they are still refusing to acknowledge our authorization. Additionally, they have done NOTHING on the file since receiving it from XXXX. -- -- -THEY HAVE HAD THE PACKAGE FOR ALMOST 30 DAYS AND HAVE DONE NOTHING!! -- -- There is no SPOC assigned. They are refusing to escalate this, management is refusing to speak to us, and we can not get a return phone call with a status on this. Aside from gross violation of their servicing guidelines, this is a VA BORROWER. Apparently LoanCare doesnt care about our military personnel. LoanCare doesnt care it is in violation of Federal and State Laws. LoanCare doesnt care it is in violation of their Servicing Guidelines. LoanCare doesnt care about CFPB guidelines. ******we are having issues on EVERY SINGLE ONE OF OUR LOANCARE FILES. LOANCARE has neither the knowledge, nor capacity, nor the personnel to service the files for which they are being paid servicing fees. This needs to STOP IMMEDIATELY. I want this file opened immediately as a short sale. I want a SPOC and negotiator assigned. I want the documents submitted to be worked on. CC : 1. OAG 2. XXXX XXXX 3. OCC
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-07-26

Folsom, CA

Trouble during payment process

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

Timely Response

2019-07-26

South Florida, FL

Closing on a mortgage

Mortgage: Conventional home mortgage

Complaint: I have a mortgage on a home in NY. I am selling the home and have requested the original mortgage abstract / title search from the mortgage holder. I contact Loan Care at XXXX on Tuesday the XXXX of XXXX and was told I would receive the requested documents via email within 5 to 7 days. I called back on XX/XX/XXXX and was told that they meant 5 to 7 working days. I have called back today, XX/XX/XXXX and am now being told I must send in request in writing. Seems like a scam these companies play to force sellers / buyers to continuously have title searches done back the beginning of time.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-07-25

Key Biscayne, FL

Problem with a credit reporting company's investigation into an existing problem

Mortgage: FHA mortgage

Complaint: My mortgage is with Loancare and I was affected by a hurricane and I was una disaster area and was in a hurricane monoturium with HUD after I was put in a modification trial and completed it and then was given the permanent modification all payments have been on time and no lates but the lender keeps putting me that I have late payments and has been destroying my credit that have gone back and fixed this issue already 2 times and now they did it once again I need this to stop happening and need to stop hoping and praying that someone does not mess up my credit every month
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-07-25

Stevenson, MD

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: In late XX/XX/2019 we received notification that our mortgage was transferring from XXXX to Loancare effective XX/XX/2019 with instructions to send XX/XX/XXXX payment to Loancare and use XXXX loan number if information is not received as to new loan number if not contacted by Loancare prior to the due date. Information was not received so initial instructions from XXXX were followed and payment was processed by bank through EFT on XX/XX/2019. Approximately XX/XX/XXXX we received a message to call Loancare. This was done and we were informed that we were delinquent on XX/XX/XXXX payment. We then informed them we had proof of payment and that it was sent using XXXX loan number. The representative then was able to trace payment and said it would be corrected within 3 business days and also provided me with the new Loancare loan number since we still didn't have any correspondence. Since that time we have continued to receive phone calls on this delinquency and despite each time being promised they would " escalate '' the issue to have the payment " recognized '' the payment has not been recognized and calls have continued on a mostly daily basis. Please note that when calls are made there is never a person making them but are just robocalls ( Loancare 's term ) asking for us to return their call. Upon making those calls it normally takes anywhere from 10 minutes and longer to actually get to talk to a person and we are then immediately told the payment is delinquent. They posted our payment made on XX/XX/2019 as XX/XX/XXXX payment and calls stopped for 5 days and then began again as " XX/XX/XXXX payment not received ''. Since it is now 50 days since they received XX/XX/XXXX payment and approximately 30 days since we were promised their error would be fixed that their daily phone calls are basically harassment on their part. l
Company Response: Closed with explanation

Timely Response

2019-07-25

WI

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: - My loan was thru XXXX - XXXX went into bankruptcy, loan was sold to LoanCare - LoanCare notified my of my new account number and where payments should be made Account # XXXX Payments to be sent to LoanCare , LLC XXXX XXXX XXXX XXXX, PA XXXX - on XX/XX/XXXX I made my XXXX payment using the XXXX XXXX online billpay system. I owed {$1300.00} -- I paid {$1400.00} - On XX/XX/XXXX I received a statement from LoanCare indicating my XXXX payment was still due, and I now owed {$2700.00} for my XX/XX/XXXX payment. - XX/XX/XXXX I called XXXX XXXX XXXX to confirm my payment had been sent via online BillPay. They confirmed it was sent and provided ACH transaction # XXXX - On XX/XX/XXXX I called LoanCare to discuss the missing payment. I was told to email them with the detailed information. Including a copy of the check used for payment ( front & back ). I told them this is an ACH Transaction, meaning payment went directly to them on XXXX. I do not have a physical check to copy. send email to XXXX During this call I asked to confirm my account # and payment information to ensure my XXXX payment did not have the same issues. The person from customer service confirmed my account number but they provided a different mailing address. Account # XXXX Payments to be sent to LoanCare , LLC XXXX XXXX XXXX, CA XXXX - XX/XX/XXXX I sent the email, they responded with email confirmation and provided LoanCare ticket # XXXX - XX/XX/XXXX I went to XXXX XXXX online bill pay Confirmed the account number was correct, it was Updated the mailing address to the new one provided in the call with LoanCare - XXXX I called LoanCare to follow up on the ticket They reviewed the notes on my account, and updated the notes with the ticket number stating I had missing information in my email. I asked to escalate the ticket, they stated they did and the ticket now had a close date of XXXX - XXXX I made my XXXX payment using XXXX XXXX online billpay in the amount of {$1400.00} - XXXX I called LoanCare to follow up on the ticket LoanCare confirmed my XXXX payment was recieved, the payment was posted to my account with a XXXX payment date Person indicated the XXXX payment should be added to my account by XXXX. I was instructed to begin using the LoanCare online system and to verify my information before I make any calls in the future I should verify the payment is posted in the afternoon - XX/XX/XXXX I called LoanCare to follow up on the ticket the first payment ( XXXX payment ) is not posted to my account The customer support person told me to send a copy of my statement indicating the payment being made on XXXX. I should sent this statement in an email including the history of my calls. XX/XX/XXXX I sent the email of my calls to XXXX indicating the account #, ticket number, including phone call history and attaching a copy of my online bank statement showing gthe payment coming out of my account on XXXX - XX/XX/XXXX Confirmation email received from LoanCare confirming my ticket number indicating it would take 2 business days for resolution - XX/XX/XXXX Received email from LoanCare indicating my bank statement was not sufficient proof of payment. They againrequested a copy of the check used for payment, front and back. XXXX I called XXXX XXXX bank opening ticket # XXXX to trace the online billpayment for XXXX. I need to allow 3 business days for the trace XXXX Called XXXX XXXX to follow up on ticket. XXXX has been calling LoanCare to verify payment for XXXX XXXX was asked to fax over proof of payment ; documentation was faxed to LoanCare at XXXX LoanCare is now researching XXXX Called LoanCare to follow up on ticket They indicated the information from XXXX XXXX XXXX was not sufficient proof of payment. I was asked to provide the transmittal number XXXX I called XXXX XXXX XXXX to ask for the transmittal information, and have it sent to LoanCare. XXXX confirmed they sent the transmittal information for the XXXX payment, they were supposed to send the one for the XXXX payment. They will send the correct one today XXXX I recieved a call from XXXX at XXXX XXXX XXXX We placed a 3way call to LoanCare to discuss my open ticket. LoanCare, XXXX, and myself reviewed the ticket information to fill in any missing information onto the LoanCare ticket LoanCare once again indicated they need the proof of transmittal for the XXXX payment XXXX sent the proof of transmittal while we were on the phone. We asked that notes be added to the ticket to indicate the length of time I have been working on this issue, and that no negative credit bureau reporting or fines should be completed on my account. Ticket escalation was requested. - XX/XX/XXXX XXXX called to confirm receipt of the transmission He was told it was received, and the payment was found. It should be posted to my account within 3-5 business days. The payment had been applied to someone elses account, and will need to be removed from that account and applied to mine. - XX/XX/XXXX After verifying the payment is not showing on my account via the online LoanCare site, I called XXXX at XXXX XXXX to do another 3way call with LoanCare The person on the phone indicated the payment has not been made, we asked to talk to a supervisor, after waiting over an hour a supervisor joined the call The supervisor is only able to escalate the ticket adding a critical priority. The new ticket for the escalation is # XXXX He indicated I should recieve a call from someone at LoanCare ( a person, not an automated call ). At best I can hope for the call within the next 3 business days, but it may take longer then that. He was unable to provide a timeframe. We once again requested a note be made to the escalation indicating no negative reporting or late fees be applied. He said he could not say the note would make a difference, and when the negative reporting and fines hit my account I could call back and request they be removed.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-07-24

Clarksville, MO

Incorrect information on your report

Mortgage: Conventional home mortgage

Complaint: In XX/XX/2009, a mortgage with XXXX was discharged in a Chapter XXXX bankruptcy. The debt was never reaffirmed. I have documentation from XXXX stating exactly that. The loan has been sold multiple times. The most recent purchaser has reinstated the debt and reported with the credit Bureaus. The debt was never reaffirmed with any owner of the mortgage. This company is in violation of federal laws pertaining to bankruptcy.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-07-24

North Prosser, WA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: My mortgage was transferred from XXXX to XXXX Loan Care LLC. I sent in a payment for {$1800.00} on XX/XX/2019. They cashed the check but applied the loan proceeds to a wrong account number. I notified them of this via Phone call to customer service. I spoke with XXXX. She said it would be reversed and posted to the correct loan in 4 to 5 business days. After 5 business days, it was not corrected. I called Back. This rep said she could see it was in process and check back on XX/XX/XXXX. I called and spoke with XXXX at XXXX on XX/XX/2019 and was told that nothing had been done.She did not know when it would be taken care of or what it would take to get cashiering to get the payment posted correctly.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-07-24

Brkn Arw, OK

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

Timely Response

2019-07-24

Christmas Vly, OR

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: Hello, My mortgage loan was with XXXX for years and recently our mortgage loan was transferred over to Loan Care. Loan Care is in XXXX XXXX, VA. Since the transfer Loan Care has been difficult to contact. Wait times to speak with a representative are well over an hour. For a working family trying to pay bills this is difficult to be on hold during working hours. My loan was in default and I submitted all of my loss mitigation paperwork as Loan Care had recommended. I received an email back from XXXX XXXX and she was requesting additional paperwork. She wanted 30 days of paystubs, Pension Award Letter, 60 days of bank statements, XXXX tax returns, purchase contract, listing agreement with MLS, HUD1, Buyer proof of funds, and 3rd party Authorization. After receiving this email I was very confused because I did not have some of these items. We were not wishing to sell our house. I stated on the initial loss mitigation paperwork that we wished to keep our house. I still have the original email I sent. I attempted to call Loancare again. My wait time was well over an hour. I did end up talking with a lady. She informed me that I had checked the box " Wanting to sell the house '' on my initial loss mitigation paperwork and needed to send more information about how I did not wish to sell the house. I looked back at my email and I had checked the correct box. Loan Care was incorrect in there request. However, communicating with them is almost impossible. My husband I and were told our house was inactive foreclosure and we were going to lose our house. Loan Care had XXXX XXXX in XXXX California overseeing our forclosure. I contacted XXXX XXXX for a reinstatement balance because I could see working with Loan Care was next to impossible. I received a payoff balance to bring us current. My husband and I were able to come up with the funds. I submitted a check for {$7600.00} to XXXX XXXX on XX/XX/. This amount included attorney fees, title fees, and much more. On XX/XX/, I logged into my Loan Care account and was confused as to how my funds were applied. I attempted to call Loan Care again. I was wanting someone to explain to me how much money Loan Care received from XXXX XXXX and how my funds were applied to my account. I spent an hour and 15 minutes on this call. I was transferred 3 times and talked with 4 different individuals. Not a single one of them could tell me how much money was applied to my account and how it was dispursed. On XX/XX/, I talked with a man in collections who transferred me to XXXX, she could not understand how my funds were applied so she transferred me to XXXX. XXXX said he could not explain and transferred me to XXXX. XXXX was also at a loss as to how my {$7600.00} was dispersed. XXXX recommended I email Loan Care at XXXX to get my questions answered. I did just as she suggested after hanging up the phone. I sent Loan Care an email on XX/XX/XXXX, and have not received a response. Loan Care is a mortgage servicing company and should be able to provide me with the information I am requesting. I find it frustrating and unprofessional to treat customers the way I have been treated. I simply want and explanation as to how much money was sent to Loan Care from XXXX XXXX and how my funds were applied. Also, Loan Care should have an easier way for customers to contact the company. Please Help!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-07-24

Ny City, NY

Closing on a 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

Timely Response

2019-07-23

Phoenix, AZ

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

Timely Response

2019-07-23

Snellville, GA

Problem with a credit reporting company's investigation into an existing problem

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Difficulty submitting a dispute or getting information about a dispute over the phone
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-07-23

Garrett Park, MD

Trouble during payment process

Mortgage: FHA mortgage

Complaint: On XX/XX/XXXX I received a letter from LOANCARE , LLC regarding loan number # XXXX, that my hazard insurance is not renewed for the year XXXX. My insurance renewal date is mid XXXX. I immediately contacted my insurance and reactivated my hazard insurance, and they inform me that the reason for cancellation was lack of payment by the mortgage company after repeated attempts.Subsequently I was informed by LOANCARE that I have to pay {$2300.00} for some hazard insurance that they paid for in XXXX. I send them a dispute letter on XX/XX/XXXX, basically complaining that they misled me in having hazard insurance, exposed me to one year of potemtial loss of property risk. I also requested the followings : 1. Please provide me with copy of insurance you purchased and a copy of any attempt that you tried to notify me of the situation from XX/XX/XXXX through XX/XX/XXXX. 2. Please explain why my tax breakdown of XXXX received in XXXX of XXXX still shows that my original insurance was paid via my escrow account. 3. Please provide the reason why my original insurance was not paid as being claimed by XXXX XXXX insurance. 4. I further requested that why I am being charged with PMI although I have paid more than 20 % of my original house value. I just received a letter from them ( yesterday XX/XX/XXXX ), totally ignoring my request, and demanding the full payment. To me this is totally unacceptable and violating my rights as a citizen. They are not accountable for what they have done with my money ; such as what happened to the payment in my escrow account, money paid for PMI payment, and why I was not provided with any timely notification. I have the copy of my dispute letter and a copy of registered mail which was received by ithem ( see a copy of the letter in the attached file ). There is also a general confusion of whom I am dealing with ; XXXX XXXX XXXXs, loancare services, or insurance center, etc. This is like a maze and there is no single point of contact with physical address ( they all have PO Boxes ).
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-07-23

GA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Failure to provide written response within 30 days to a request to remove PMI. I sent a letter with supporting documentation to LoanCare by certified return receipt mail that was delivered on XX/XX/2019 to the company. I received a letter dated XX/XX/19 stating that I would receive a response within 30 days of LoanCare receiving my letter on XX/XX/19. Today is XX/XX/19 and the company has failed to respond within the required timeframe. I have tried to call their mortgage resolution department at XXXX during business hours numerous times, leaving a message each time asking for someone to call me with no response. Original loan : {$230000.00} Current balance : {$130000.00} 10+yrs and I can't seem to get them to drop the PMI. The loan balance has been well under the 80 % loan to value mark for many years. I'm tired of paying $ 80+ per month for PMI. Please help! Thanks, 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

Timely Response

2019-07-23

MI

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: XX/XX/2019-Loan was transferred over to loancare. Called to make sure everything was set and that my winter XX/XX/2019taxes would be paid. They assured me they would be. XX/XX/2019- I received delinquency letter that my winter taxes were not paid. I have called & emailed multiple times to get this resolved and its been over a month and its end of XX/XX/XXXX now. I dont know what else to do. I also emailed them a copy of my current summer taxes with updated number and still no response.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-07-23

Angels Camp, CA

Applying for a mortgage

Mortgage: Other type of mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-07-22

FL

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: I had a mortgage with XXXX. XXXX is in bankruptcy, and my mortgage payments were set to Auto-Pay through my bank 's ( checking account ) bill pay service automatically remitted to XXXX loan account. These payments continued to be made. After return from vacation I find a statement from XXXX in my XXXX XXXX , stating that I owe an outrageous amount for non-payment of mortgage for 3 months ( {$1300.00} ) where monthly payments with prior company XXXX were {$450.00}. I never received anything from XXXX, and I never received anything from XXXX XXXX that my account is being transferred or who to contact, where to make payment etc .... All I have is a single piece of mail from XXXX XXXX with a payment slip for {$1300.00} ( versus my monthly fixed amount {$450.00} ). As per my understanding of requirements during mortgage service transfer ( 12 CFR 1024.33 ) - 1 - The old company XXXX XXXX - i.e. Transferor of service ) was required to send me a Notice of Transfer no less than 30 days before effective date of the transfer of servicing of the mortgage. - 2 - The new company ( XXXX XXXX - i.e. Transferee of service ) shall provide the borrower notice no more than 30 days after effective date of transfer. - 3 - Notice of transfer shall include : ( i ) effective date of transfer ; ( ii ) name, address, and collect or toll-free telephone number of employee or department of the TRANSFEREE of service so that the borrower can obtain answers related to servicing transfer ; ( iii ) name, address, and collect or toll-free telephone number of employee or department of the TRANSFEROR of service so that the borrower can obtain answers related to servicing transfer ; ( iv ) date on which the TRANSFEROR will cease to accept payments and on which TRANSFEREE will begin accepting payments ; ( v ) Whether the transfer will affect terms, and any actions the borrower must take ; ( vi ) statement that the transfer of servicing does not affect any term or condition of the mortgage loan. NONE OF THE ABOVE 3 points and sub-points were completed by either XXXX or XXXX XXXX. All I receive is a slip to pay to XXXX XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-07-22

District Heights, MD

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

Timely Response

2019-07-22

Kingstree, SC

Trouble during payment process

Mortgage: VA mortgage

Complaint: I filed a complaint with XXXX XXXX XXXX , XXXX, but I think I should be fling a complaint against LOANCARE , LLC because they are the ones who transferred my service. You used to think that if a mortgage company transferred/sold your loan to another, it was a good thing. I do not think this is the case. XXXX is a collection service. Transfer was XX/XX/XXXX one month after closing. closing was XX/XX/XXXX. I did review the Notice of Servicing Transfer and I have logged in many calls to XXXX. Confusing because XXXX number is XXXX. I used to pay {$720.00}. They were late posting the initial money from closing. On XX/XX/XXXX I spoke with XXXX about payments and how to do them online. I paid XX/XX/XXXX. Back then I had questions about the escrow. This is when the amounts did NOT agree. Then, they said I was short, it THEY were over paying. I saw this reflected on monthly statement of XX/XX/XXXX ( statement date ) and ( payment due date ) of XX/XX/XXXX. Then on XXXX/XXXX/XXXX I got a statement from LOANCARE LLC with a new amount of {$690.00}. ( Everyones Mortgage goes down, so I thought nothing of it. I have heard of VA Relief Program and other reasons for decreases, even on a fixed rate, so I thought nothing of it. ) Until, LOANCARE decided to transfer me over to XXXX which started at total amount due : {$690.00}. And that is when from then on it seems they PASSED there buck onto to me. And on XX/XX/XXXX the amount changed again to {$710.00}. I am So fed up with all this. I have shared with my family that if for any reason I drop dead, SUE them for duress, because from then on I have tried to solve the problem with both of these with only one headache after another. Please help!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-07-21

Bremen, GA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: My mortgage service changed from XXXX to XXXX XXXX loancare. I had my online bank setup for the new address but did not have new account number. The old account number from XXXX. Mortgage payments were sent via online to Loan Care service XX/XX/XXXX for XXXX statement and XX/XX/XXXX. I found out that payments were not credited to my mortgage ; XXXX XXXX was contacted and I was told to submit proof of payments to their research department. This information was submitted XX/XX/XXXX showing online payments and how online banking had old account number. My bank submitted notarized statement to XXXX XXXX loancare that XXXX and XXXX were paid. The banker received statement that it was recieved and assigned case # XXXX. My brother submitted email to customer service on XX/XX/23 and there is case # from XXXX XXXX Loancare # XXXX. During this time I have gone through XXXX, XXXX, and XXXX for XXXX XXXX. XX/XX/XXXX there was contact with XXXX XXXX and XXXX # XXXX said issue would be resolved by XX/XX/XXXX. XX/XX/XXXX XXXX # XXXX said that it would be resolved XX/XX/XXXX. I am making my payments but XXXX XXXX says my loan is in default. My brother has been helping me and paper work was submitted so that he could talk to XXXX XXXX. My XXXX has been removed and I am unable to talk. I can provide bank statements and other proof. I am heard that this company has very bad reviews and similar cases have occurred.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-07-21

Boerne, TX

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

Timely Response

2019-07-21

N Hollywood, CA

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

Timely Response

2019-07-20

Garrett Park, MD

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: My loan just got transferred from XXXX to Loancare. My previous mortgage payment was {$1200.00} with {$22000.00} remaining on the balance and maturation date around XX/XX/XXXX. I just saw on the new Loancare statement that the maturation date is now XX/XX/XXXX with a monthly mortgage of {$1100.00}. Loancare never sent me a document for a new loan and secretly slapped 15 years of loan without notifying me or my agreement. There is a BIG discrepancy of the statement and the actual amortization schedule to XX/XX/XXXX. The statement said the new monthly payment of {$1100.00} due in XX/XX/XXXX includes principal payment of {$870.00} and interest of {$100.00} but the amortization schedule says for maturation date of XX/XX/XXXX, the payment for XX/XX/XXXX includes interest of {$100.00} but principle payment of only {$74.00}. Where does the rest of {$790.00} go if not to my principle??? The new loan I would not want to extend my loan whatsoever, especially with such a shady company like Loancare. If using the new loan amount and the new maturation date, the total amount Loancare wants me to pay is 10 times of the remaining balance!! I am totally disgusted by Loancare!!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-07-20

New Market, AL

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Loancare initiated the transfer of servicing my mortgage without publishing the new account numbers they established, resulting in Loancare misapplying two of my payments. Currently, I still have one payment that Loancare has not applied to my account, and I am facing the end of the 60-day period that late fee and negative credit reporting are suspended following a mortgage servicing transfer. I fear that my credit will be negatively impacted due to Loancares poor execution of the transfer of servicing of my mortgage. Due to extremely unresponsive customer service, I have spent many hours on the phone, researching the Loancare website, and writing email messages without adequate resolution to my problem. The servicing of my mortgage transferred from XXXX to Loancare on XX/XX/2019. I received a letter from XXXX approximately a week before the loan servicing transferred announcing the change of mortgage loan servicer. There was no mention in the XXXX letter of a change in the account number, but the letter did provide a new address to send payments. I changed the payment address in the bill pay system provided by my bank, XXXX XXXX XXXX XXXX. The XXXX website indicated that the for the XXXX payment check was cashed on XXXX XX/XX/2019. On XXXX XX/XX/2019, I received two letters from Loancare. One letter was a notice of late payment, and the other was a letter that provided my new account number. When I called the Loancare customer service number, the recording indicated that the new account numbers were sent out on XXXX XX/XX/2019, nearly a month after the first payment was due to Loancare. I suggest that a better technique would have been to send the new accounts out before a payment was due to avoid the chaos that would result in having to track payments to the proper accounts without the correct account numbers. I then updated the account number in the XXXX payment system, but since XXXX mailed the check for the XXXX payment on XXXX XX/XX/2019, I am not sure if XXXX had already printed the check with the old account number. I then attempted to call the customer service number several times but was not able to get through to a representative. I then sent an email through the interface on the Loancare website and included an image of the check Loancare cashed on XXXX XXXX. I never received a response to the email or to a second email I sent as a followup. I have received robocalls every day or two on my work phone telling me to call Loancare, but on most occasions the I was not able to speak to a representative due to the call volume or being put on hold for an excessive period of time. The system once asked for a call back number, which I provided, but I did not receive a callback. On about XXXX XX/XX/2019, I was able to speak with a representative who told me she found my payment applied to a different account and that Loancare would correct the error by XXXX XXXX. They did not correct the error by XXXX XXXX, but after a couple more attempts to contact Loancare I saw the XXXX payment was applied on XXXX XX/XX/2019 on the Loancare website. The XXXX payment had not yet posted on XXXX XX/XX/2019. On XXXX XXXX, I received a letter from Loancare saying that I was two months delinquent on my account. When I called Loancare, the representative said that they had found the second payment ( due in XX/XX/2019 ) but that it was being applied to the wrong account. They said Loancare would apply the XXXX payment to my account by XXXX XXXX. I also spoke to a manager and requested a letter documenting that any late payment information about my account was due to Loancare misapplying my payments. She said that Loancare normally did not provide such letters, but she would put in a request for me to receive a letter. On XXXX XXXX I checked my account and noticed that the XXXX payment had not been applied. I called Loancare ( I was able to get through to a representative immediately this time ) who told me the accounting department was backlogged due to the volume of the XXXX transfer and my payment would be posted by Monday. I then asked how they would be able to post the payment on Monday when they had not even cashed the check for the XXXX payment yet. The representative then indicated that the accounting department might be attempting to apply the XXXX payment twice. My bank, XXXX, indicates that they sent the XXXX payment on XXXX XX/XX/2019 and that it should have arrived by XXXX XXXX. I asked the representative if I should cancel the XXXX payment check and submit another payment, but she said that if I did that and Loancare attempted to cash the original check I would have to pay an insufficient funds fee. I asked her for a solution that I could use to get my payment posted before the first of XXXX ( 60 days after the servicing transfer ) when late fees and negative credit reporting would apply. She could not offer me a solution. I asked to speak to a manager. The representative said no managers were available, but I would receive a callback. I have not received a call back in the 3 hours since the call ended. I request help from the Consumer Financial Protection Bureau to resolve this issue as my expenditure of considerable time and energy has failed to achieve a resolution.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response