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 23
2019-07-15
Elsinore, UT
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
2019-07-15
Wrentham, MA
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
2019-07-14
Atascocita, 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
2019-07-13
Fairfax, 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
2019-07-13
CT
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: Our mortgage on the property was around {$1500.00} a month. Over the course of last year XXXX first increased the mortgage to {$1700.00} a month citing an escrow shortage of {$11000.00} in XX/XX/XXXX. Due to the increase, vacancies, and a deadbeat tenant, I fell a month behind for several months. As soon as I got current with the mortgage in XX/XX/XXXX, they increased the mortgage to {$2400.00} a month, citing another escrow shortage of {$9000.00} found inXX/XX/XXXX.
It did not seem reasonable, logical, or even possible, to first have an {$11000.00} escrow shortage, never mind having another {$9000.00} escrow shortage just three months later ( and as the same time as I had caught up ). At this point, I stopped paying the mortgage.
The loan was transferred to Loancare who is claiming another escrow shortage of {$4300.00} from XX/XX/XXXX due to an increase in home insurance. They have hired the XXXX XXXX XXXX ( XXXX XXXX XXXX XXXX XXXX, XXXX XXXX , XXXX, RI XXXX ) to start the foreclosure process.
All of this started after the housing market pulled out of the recession. My building is worth a lot more than what I had purchased it for almost 20 years ago, and is definitely worth a lot more than the balance of the mortgage. I believe this is a clear case of equity stripping. They are just going to keep raising the mortgage until I go under.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-07-12
Havre De Grace, MD
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: I have contacted Loancare LLC several times and sent written correspondence asking them to review my Escrow and adjust to accurately reflect my property taxes. Loancare can not connect me directly with an Escrow department representative. So, their approach is to " send an E-Mail ''. This has resulted in No action. I have a surplus that should also be refunded to me. Their customer service representative fails to ensure that my request is being escalated - they did not even have a record of a conversation from a previous call where they said they would escalate this issue to the escrow department. This lack of support is an accurate reflection of ALL the complaints logged against Loancare LLC. This is a pathetic and incompetent organization.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-07-12
Monterey, IN
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: Hello - My mortgage account transferred from XXXX to Loancare as of XX/XX/2019. I made an electronic payment of {$1100.00} to Loancare through XXXX XXXX Bill Pay on XX/XX/19, but used the old XXXX account number, as I didn't receive a notice advising my account number had changed until after the payment was made.
This payment has not been posted to my mortgage account at Loancare as of XX/XX/19 despite various attempts to resolve the issue with Loancare. XXXX XXXX XXXX uses a processing company to deliver payments called XXXX ( also known as XXXX ) Bill Pay. A branch banker at XXXX XXXX sent XXXX Bill Pay electronic payment proof that the payment was made ( also attached the proof details to this complaint ).
After not getting anywhere calling Loancare directly, I worked with a banker at XXXX XXXX XXXX who placed several calls with me to Loancare and provided the proof details to Loancare. When the issue remained unresolved, on XX/XX/19 a case was opened at XXXX XXXX and a Bill Pay Resolution specialist got involved. I placed a series of calls with this specialist and Loancare, each time being advised the issue would be escalated and resolved. On XX/XX/19, Loancare provided ticket number XXXX when XXXX XXXX XXXX once again sent proof details along with a request to post to the correct account.
We then followed up with Loancare on XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX each time being advised a supervisor would call back but either we did not get a call back or received a call back saying they would follow up again but not following through.
I'm opening this complaint as a last resort.
Thanks for your assistance.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-07-12
Saint Augustine, 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
2019-07-12
Closing on a mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-07-12
OK
Struggling to pay mortgage
Mortgage: FHA mortgage
Complaint: XXXX and XXXX XXXX closed on a home located at XXXX XXXX CT in XXXX, OK XXXX on XX/XX/XXXX. The loan amount was {$180000.00} at a fixed interest rate of 3.75 %. The lender at the time was XXXX XXXXXXXX XXXX , XXXX Our monthly mortgage statement we agreed to pay was {$980.00}.
In the year XX/XX/XXXX, our mortgage was sold to Loancare. After we had paid our mortgage per our agreement for an entire year, we received a letter stating our property taxes were not assessed into our payment. We were told either we pay the {$2400.00} up front, or we calculate it into our payment and pay it out over the year to catch up. We fell behind at this time, but we still managed to pay the amount as quickly as we could accumulate the funds. They increased our monthly mortgage from {$980.00} to {$1400.00}. Paying this amount for a year put us behind very quickly ; however, the mortgage company has stated they made the mistake in not assessing our property taxes into our payment. Furthermore, they continue to send threatening letters to foreclose on our home because we get behind.
After we paid the property taxes, we were told the mortgage would go back down. The amount did go down by {$66.00} to a mortgage payment of {$1300.00} ; however, they will not provide us with an accumulative history of our payment records or itemized detail of what the {$1300.00} breakdown is as if it is not our right to know.
This has caused an extreme financial hardship on our home and family, as we would not have agreed to a loan that would increase our payment by {$500.00} a year after we moved in the home. The front of our closing disclosure states estimated total monthly payment can not increase ; however, it has substantially and I would go as far as classifying Loancare 's methods of collecting increased payments predatory and uncooperative to put it lightly. We have called them on several occasions, applied for refinancing payments ( resulting in denial ), explained our situation without any success. It has been made clear that their job is to remain objective and they can not advise us on our situation.
It would be one thing if we bought a home outside of our price range, but a {$180000.00} 30-year mortgage on a XXXX sq. foot home at payments of {$1300.00} does not match up, especially at a fixed interest rate of 3.75 %. Simple math brings us to {$500000.00} worth of mortgage payments over a 30 year term.
Again, this increase has placed a huge financial strain on our family, and we would very much appreciate investigation and resolution. My wife and I are both employed with XXXX kids, and our priority is to simply agree to a payment that is feasible and investigate this loan company. It has also been brought to my attention that we are not the only ones who have experienced this exact situation happening with Loancare and are also seeking assistance.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-07-10
Sacramento, CA
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: Company sent me a debt collection letter. Payments were made electronically and received on time. This company is a interim loan company since ditech went out of business.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-07-10
Urbandale, IA
Trouble during payment process
Mortgage: FHA mortgage
Complaint: I am behind on my mortgage one month, each payment is {$1300.00} plus and additional {$10.00} for the convenience of processing the payment through their online portal.
I was looking through my statements and what bothers me is I received a letter dated XX/XX/19 showing I owed for XXXX but also was including the month of XXXX. The statement requesting the monthly payment 15 days before its technically due is miss leading.
This could cause financial stress and lead to poor decisions for other home owners that dont fully understand their mortgage.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-07-09
Bancroft Hall, MD
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Public record information inaccurate
Complaint: On XX/XX/XXXX I had Bankruptcy chapter 7 and I own a house in XXXX XXXX XXXX. XXXX, MD XXXX and I was refinance my house with XXXX and my account was DISCHARGED IN BANKRUPTCY so my loan was never in my credit report, last month in XX/XX/XXXX this loan was transferred to LOANCARE their address XXXX XXXX XXXX XXXX, PA XXXX and my loan number with them is XXXX.
LOANCARE send this loan to my credit report, I called them today XX/XX/XXXX at XXXX XXXX I was online for more that an hour with XXXX then XXXX to remove my loan from the credit report because I had this loan while DISCHARGED IN BANKRUPTCY but still no help.
I want from LOANCARE to remove my loan from my credit report because of the BANKRUPTCY.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-07-09
Rockwell, NC
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: My mortgage was sold to Loancare LLC on XX/XX/XXXX by XXXX who filed for bankruptcy. Loancare received my mortgage payment on XX/XX/XXXX by electronic payment from my bank. They have yet to post my payment to my account as of today XX/XX/XXXX. I have made countless calls to get this resolved. They asked for proof of payment which I sent them on XX/XX/XXXX and again on XX/XX/XXXX. I spoke to XXXX on XXXX and was informed that they did have all the info they needed and that the payment would be posted by XXXX. This did not happen and I made another call today XXXX. Spoke to XXXX today and was told again that they had all the info they needed and that it would take another week to fix this, until XX/XX/XXXX!!!
This is completely unacceptable. They have " stolen '' my money for over a month. This is not an isolated case. If you look at their complaints on the XXXX website and social media sites ( XXXX, XXXX, etc ) you will see that this is an incompetent and corrupt company. People are being lied to and having their money stolen from them! The CFPB needs to do an actual investigation of this companies business practices. If the CFPB can't investigate please notify the government agency that can, because there are many consumers being taken advantage of by this company. I will attach the proof of payment documents that I sent to Loancare. Anytime that you email or call them they either give a generic response or lie to you about solving your issue.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-07-09
MO
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: loan care mortgage took over my loan from XXXX on appx. XX/XX/12019 since then i have had nothing but problems with them. newest problem is they lost my payment of XXXX i sent to them on XX/XX/XXXX cashiers check to exact address they said. now they said i sent to a p.o. box in wrong state. I cant get a hold of them .you wait over hour to talk to a totally uniformed agent, who will hang up on you as soon as you ask a question they cant answer. i am XXXX years old and worried they are trying to steal my home. please help.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-07-09
Hinsdale, IL
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: I am writing to report misappropriation of funds and egregious mortgage servicing practices performed by LoanCare LLC.
Our mortgage servicing was bought from LoanCare effective XX/XX/XXXX ; however LoanCare did not provide any notice of transfer of servicing. In late XX/XX/XXXX - 6 months after the date of transfer - I received an alert through personal credit monitoring that my mortgage was being reported as delinquent by a new servicer. We had no idea that our loan servicing was transferred from LoanCare to XXXX in XX/XX/XXXX ; regular, timely monthly payments were made to LoanCare until XX/XX/XXXX.
After contacting XXXX ( who failed to provide appropriate notice as well, by sending the documents to the property address rather than our permanent residence ), I was informed that our mortgage was thousands in arrears. I began reconciling where the payments made to LoanCare from XX/XX/XXXX to XX/XX/XXXX had been applied, if at all.
On XX/XX/XXXX I made my first call to LoanCare in an attempt to reconcile the payments and found that of the five payments, 2 were forwarded to the new servicer and 2 were returned to my bank. The last payment remains unaccounted for.
LoanCare failed to appropriately forward or return the payment made on XX/XX/XXXX and is unable to provide any documentation as to it's whereabouts.
As of XX/XX/XXXX, I have spoken with LoanCare customer service on 6 occasions, Twice ( once via fax and once via email ) I have provided proof to LoanCare that they accepted and endorsed this payment and asked for documentation of its application.
The information provided by LoanCare 's customer service is different and contradictory but the results are the same : no resolution. For 8 weeks now, I have been told that the research is " still in process ''. I have been given dates by which I can expect the documentation to be mailed ( never has arrived ). I have been given case tracking numbers that when referenced in subsequent calls, apparently have no case history. I have a customer service rep inexplicably transfer my call back to the main call directory, and every with call I am placed on hold in excess of 20 minutes.
On my most recent call, I was told they do not have any documentation on file and that I should submit the proof again. I am no further along today than I was at time I first contacted them. To boot - in XX/XX/XXXX - LoanCare reported my mortgage ( the one transferred in XX/XX/XXXX ) as being >120 in arrears! Upon my contacting them about this separate issue, I was informed that I needed to provide them with proof that they reported this information - which makes no sense.
The net result is that LoanCare has misappropriated at least {$1800.00} and is not being held accountable for their practices.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-07-08
CA
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: LoanCare , LLC, who acquired my mortgage servicing rights a number of months ago, has refused to credit additional monthly payments to principal, in spite of my repeated calls and instructions in writing via email. I have even called them in advance of submitting the payments, and have been told " my account will be noted to ensure proper crediting of the additional amounts paid. '' When you review the attached payment history, you can easily see the problem, and the fact that they have again made an error in crediting additional funds from the XX/XX/XXXX payment to future payments, instead of to principal.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-07-08
Wesley Chapel, FL
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: My problem is with LoanCare , LLC which operates the website myloancare.com. They purchased my loan two years ago. I've had the same homeowner insurance for 7 years. LoanCare , LLC paid my insurance last year on time. This year they didn't and I lost coverage. They show they sent payment but now sent me a letter stating I have no coverage and threaten to purchase more expensive insurance. They don't answer my calls nor respond to my emails.
They had all my insurance information as it hasn't changed in 7 years and they paid it last year.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-07-08
Cedar Grove, LA
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-07-08
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
2019-07-07
Griffin, GA
Struggling to pay 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
2019-07-07
Mishawaka, IN
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
2019-07-06
Louisville, KY
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: To Whom It May Concern : I sent the following email message to my previous mortgage holder, Loancare, on XX/XX/XXXX and was assigned a ticket number of XXXX.
" Hi! My name is ********** and you were, at one time, my mortgage holder. My loan number was **********. I have recently become aware of a discrepancy in my principle only balance. When I refinanced in XXXX, my loan amount was {$110000.00}. In addition to my regular monthly payments, I also made several extra payments to principal only : ( XXXX {$330.00} ) ( XXXX {$330.00} ) and ( XXXX {$920.00} ). This adds up to {$1500.00}. I am showing that I have paid a total of {$13000.00} since XXXX including the extra payments. My current mortgage holder says my balance is {$100000.00} and I am showing that it should be {$100000.00}. That leaves a discrepancy of {$670.00}.
My current mortgage holder acknowledges the extra payment I made to them in XXXX of this year for {$920.00}, but said that they could not see the two extra payments I made to you ( Loancare ) in XXXX. When I add {$330.00} and {$330.00} together, it adds up to {$670.00}. That is, almost to the penny, the amount of the discrepancy.
I have copies of my bank statements for XXXX in which I show those additional payments were withdrawn from my account by Loancare, one on XX/XX/XXXX and the other on XX/XX/XXXX. I am not sure what happened, but I would appreciate someone looking into this as soon as possible. My phone number is ************. I was told by one of your representatives to request a ticket number so I would like to do so. '' In response, I was sent the following message on XX/XX/XXXX asking for copies of bank statements showing that the funds in question had indeed been removed from my account.
Dear Valued Customer, Thank you for contacting us. We have received your inquiry regarding your mortgage account.
Once the payment has processed from your bank account, please, provide a full, complete copy of your account history showing the payment has been removed from your bank account ( not showing pending ), including the positive balance before and after the payment processed, and a copy of the front and back of the cancelled check, or transmittal form including the ACH trace number, if it was an electronic payment, to XXXX and your request to have the payment researched will be reviewed.
I emailed copies of the statements requested back to Loancare on the same day, XX/XX/XXXX. Attached are copies of the statements for you to review. Since then I have emailed Loancare twice more trying to get some resolution, once on XX/XX/XXXX and again on XX/XX/XXXX. I have not had any response from Loancare since the request for copies of my statements which I sent them in XXXX. It has now been 9 weeks and I am hoping you can help me get some resolution to this.
When I started this journey, I called and spoke to someone at Loancare, but was told I would have to either email or mail and request a ticket number, that this could not be handled over the phone. Quite frankly, I do not know where else to turn. {$670.00} may not seem like a lot of money, but it is to me. I am hoping that you can assist me. My phone number is ************ should you wish to contact me.
Sincerely, **********
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-07-04
Columbus, OH
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
2019-07-04
Anaheim, CA
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: Dear Sir/Madam, I have a mortgage with XXXX XXXX ( lending affiliate of XXXX XXXX XXXX , XXXX ) subserviced by Loancare , LLC. They have recently increased my monthly payment as they informed me that I did not submit proof for Home insurance. But this account is not a impound account and I am managing my home insurance outside this account by myself. I have proof that I paid my home insurance and I faxed them all the documents. But till date they have not changed the monthly payment amount and I am paying extra. I had multiple call with XXXX but they are forwarding the call to various department but none of them providing any resolution and they are informing me that the case is being investigated. I have been contacting them from XX/XX/2019 to fix my monthly payment. But they have not fixed yet. Please advise.
Previous monthly payment : {$2200.00} Modified monthly payment : {$2300.00}
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation