LoanCare, LLC

2019-04-23

IL

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: To Whom It May Concern : I am trying to resolve my monthly payment amount. My LTV is at 80 % and is therefore no longer subject to PMI. I have requested for my PMI to be removed over the phone but I have had no formal response provided to me that it is being removed. I would like a written response to my PMI inquiry from Loancare. While attempting to use the Loancare customer service link " https : //myloancarecustomeradvocate.com/XXXX '' on their website, it links to an unusable portal. When attempting to use the help line, I was informed of call wait times exceeding 1 hour. This company should not be allowed to service customer mortgages due to its complete disregard for customer service. Regards, 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

2019-04-22

Vineland, CO

Trouble during payment process

Mortgage: VA 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

2019-04-19

Hampton, VA

Trouble during payment process

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

2019-04-19

Lk Buena Vis, FL

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Company name - Loancare My Email to Loancare ( XX/XX/XXXX ) - NO RESPONSE FROM THE COMPANY AFTER SEVERAL ATTEMPTS Please see below. I believe I have an issue with multiple payments made towards Mortgage Insurance. You can see on the ledger below that three payments were made in XX/XX/XXXX, one for {$220.00} on XX/XX/XXXX, and one for {$450.00} ( a double payment ) on XX/XX/XXXX. At that time, I spoke to our loan servicer ( XXXX XXXX ) and they assured me that the double payment made in mid XXXX would be noted and applied correctly ( applied to XXXX and XXXX of XXXX ) and at that time, we had a credit with the mortgage insurance provider. I now see that Loancare made an additional payment on XX/XX/XXXX ( applied XX/XX/XXXX ) for {$220.00} towards our mortgage insurance. I am confused as to why a payment would be made when we were told we had a credit through XXXX on the account. Please confirm and advise how this will be reconciled. Thank you.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-04-18

Menifee, 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

2019-04-18

VA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: I have called several times get nothing but recordings ... when i did reach a rep it no greeting and all she said a bit rude was " can I help you '' uh ok ... the whole issue was THEY PAID A HUGE AMOUNT of escrow flood insurance to the wrong provider ( I had terminated the policy ) and had called days before to the insurance dept ( they pick up usually ) and told them the new policy number and I would call them to activate it ( I had 45 days ) so they paid on the XXXX a policy that expired on the XXXX? they did call the company and bring me in for conferance ( 1 point ) the insurance company knew nothing about the payment being sent to them and thought the same " I had cancelled '' loancare has promised to " stop payment '' if not Im contacting a lawyer ... XXXX for a policy I can get for XXXX? nope .... I too was aquired when " XXXX '' went belly up ... not happy! LAST COMMENT THEY DON'T DO EMAIL AT ALL!!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-04-18

FL

Applying for a mortgage or refinancing an existing mortgage

Mortgage: FHA mortgage

Complaint: I refinanced my FHA mortgage and the previous mortgage company charged me additional fees after refinance went through. They also have not released the escrow money that should be refunded to me. I spoke with a rep with their company today XX/XX/19 and all they can tell me is they do not know and it might be a coding error.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-04-17

Sebring, FL

Trouble during payment process

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

2019-04-16

Los Angeles, 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

2019-04-16

Struggling to pay mortgage

Mortgage: VA 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

2019-04-16

AZ

Incorrect information on your report

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

Account status incorrect
Complaint: On XX/XX/XXXX, LoanCare Servicing Center Posted to XXXX Adverse and Derogatory Information regarding my Mortgage Account XXXX. Specifically, it is noted that the account experienced a Maximum Delinquency of 60 Days or greater. This is false and incorrect reporting! Note : The inception date of this Mortgage Account was on or about XX/XX/XXXX and closed/sold/transferred on XX/XX/XXXX. Accordingly, I only had five ( 5 ) Mortgage Payments due to LoanCare Servicing Center over that period of time noted. ALL Mortgage Payments were made and posted On TIME! Please reference attached Mortgage Statements which indicate clearly ALL Payments were made and posted to my account as stated herein.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-04-16

Fleming, GA

Trouble during payment process

Mortgage: VA mortgage

Complaint: On XXXX my annual escrow account disclosure was mailed to me assessing a escrow shortage of {$580.00}. Per my initial escrow account disclosure statement that I signed on XXXX my county taxes were not to be disbursed until XXXX of XXXX after the XXXX and XXXX escrow payments were deposited into the account. These first two payments in XXXX and XXXX would serve as the required two month escrow " cushion '' XXXX disbursed my taxes a month early in XXXX of XXXX resulting in an account balance of {$260.00} which is below the required two-month cushion. The Account Projections section of the annual escrow statement also has my taxes being disbursed a month early in XXXX resulting in a balance of {$210.00} against a requirement of {$790.00} ( {$390.00} X 2 ). If XXXX disbursed my taxes in accordance with the timeline in my initial escrow account disclosure ( XXXX ) I would have an account balance in XX/XX/XXXX of {$600.00} against the requirement of XXXX. My actual account shortage would then be {$180.00} instead of the current {$580.00} On XXXX I sent a written request detailing the above request and never received a response. On XXXX I called the customer service line and they simply refused to consider my request.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-04-16

Plymouth, FL

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: My mortgage is serviced by XXXX XXXX XXXX - Loancare. I purchased my house in XXXX, have never missed a payment, and have put significant investment into the home, and there has been an increase in overall value in the surrounding area. When I took out the mortgage we only put 10 % down and then invested cash into the home to improve it, so we are paying PMI on our loan. After significant improvements, and the increase in value of comps sold in our area, we requested to have PMI removed in XX/XX/XXXX. After numerous delays and after me calling into their customer service over 10 times, I finally had an appraisal set up through the Mortgage company 's required appraisal company, that we had to pay for personally. The appraisal finally took place in XXXX and came in much lower than anticipated, which was obviously a shock to us. Since the number was so much lower than any other comps in our area, I paid another appraisal company to review the appraisal and conduct a new appraisal on the property. That appraisal came back much higher and where we were expecting the first appraisal to be, and the company highlighted numerous errors that submitted on the previous appraisal. After submitting the new appraisal to the mortgage company, along with a letter outlining the errors in the appraisal they provided, they are simply not responding and not moving forward with removing the PMI that I have requested in writing no less than 5 occasions over the past 2 months. This leads me to believe they are paying an 'exclusive ' appraisal company to value their properties much lower than their actual values in order to keep forcing their customers to pay PMI, even with loan to value ratios that are above the HPA required 80 %. This is fraud on a widespread level, I'm submitting this complaint to the CFPB in order to demand action be taken, however my next step will be small claims court.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-04-15

Anderson Acres, NV

Trouble during payment process

Mortgage: VA 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

2019-04-15

Seneca, SC

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: I have made several attempts to contact this company regarding my PMI being cancelled. I meet all requirements, but am receiving letters stating ineligibility. I had a problem with their billing several months ago, which took several months for them to work out. To prevent errors in billing, I was told BY LOANCARE to hold payment until they could work it out. They added comments to my account and waived late fees. I am eligible to eliminate my PMI based on home value and loan amount, but they are denying it because I show those months without payment. I have never been late, except when THEY told me to hold payment.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-04-13

Old Round Rock, 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

2019-04-13

Seattle, WA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: My mortgage with XXXX was sold to Loancare LLC ( XXXX ID XXXX ) when XXXX went bankrupt for the second time. I received a letter from Loancare which said that my account would be ready for registration on XX/XX/2019. It is now XX/XX/2019, and the Submit Button for LoanCare 's account withdrawal payment option still isn't working. I do, however, have a loan number. Is Loancare LLC REALLY in business? It's website does not supply an email address. It's website does not provide a webform which borrowers can use to make an inquiry. Loancare 's customer service phone lines are SERIOUSLY understaffed. It's payment setup doesn't work. Callers can't ask for a callback. I spent from XXXX today XX/XX/2019 on the phone listening to the same two phrases of a piano piece ( and one other piece of music ) repeat ... ad nauseum. At XXXX Pacific Standard Time/XXXX Eastern Standard Time, when LoadCare closed for the day, my call was terminated. I never DID learn whether the extra payment XXXX received on XX/XX/19 will be forwarded to LoanCare. Nor did I succeed in setting up payments A WEEK AFTER MY ACCOUNT WAS SUPPOSEDLY READY TO SET UP LOAN PAYMENTS. Right now, it's easy to foresee a scenario where Loancare 's understaffing and poor administrative processes diminish MY credit score. That's scary. See XXXX XXXX XXXXXXXX ). Whoa! I'd hoped to setup auto payments two times/month ( in an effort to reap some interest savings ). Now what? This story does not reflect well on LoanCare , LLC. I'm not sure it reflects well on the CFPB, either. Was the {$100000.00} fine a mere slap on the wrist, or enough money to motivate LoanCare to change it's behavior?
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-04-11

NC

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Loan Care, LLC currently services my lender XXXX XXXX in regards to my mortgage escrow account. I asked for an escrow analysis statement to be issued on XX/XX/XXXX Reference Number : XXXX. I needed this analysis as I received a property tax break for XXXX so there was a surplus of escrow. Loan Care had a copy of my tax bill which amounted to {$610.00}. The projected amount for my taxes was {$2800.00}. So as you can see this was a justifiable reason to ask for an updated escrow analysis. The ticket was never resolved and I was never provided the escrow analysis. I called Loan Care back on XX/XX/XXXX explained what information I needed and why. I was told to open a second ticket, Reference Number : XXXX. The ticket was closed with no comments or resolutions provided. Loan Care also removed my previous escrow analysis document from my account. Very suspicious. Since having the XX/XX/XXXX ticket closed I have made endless attempts to call Loan Care and inquire why they will not provide the escrow analysis. I filed complaints, been told my tickets are being escalated, however each time I call I am not allowed to speak with anyone from the escrow department and each supervisor I speak to has a different story to tell. My last conversations were on XX/XX/XXXX with XXXX ( agent ID XXXX ) she lied and told me she opened an " escalated ticket '' for me and assured me I would receive a call back the same day. I called back on Monday, XX/XX/XXXX I was told no one named XXXX worked there and transferred to another supervisor XXXX ( agent ID XXXX ), She opened another ticket on my behalf and provided me an actual ticket number XXXX. She assured me I have a right to ask for the escrow analysis and she did not understand why they would not provide one. 3 days have passed and no one has bothered to call or respond. I have been asking for this analysis since XXXX and it is now the end of XXXX and Loan Care continues to refuse to provide one. Based on my research I have every right to request a new analysis to be made, however, Loan Care is refusing to provide one. I feel my legal rights under RESPA have been violated. Loan Care has no right to keep that money in my escrow. I believe they are refusing the issue the analysis because if they do, they are legally required to refund me the surplus amount. They, of course, do not want to do that, so they are just refusing the run the analysis. I am aware that allegedly NC switched their timeline for the required annual escrow analysis to XXXX, however, I should not have to wait that long, I prefer to have my analysis ran at the beginning of the year as it more aligns with when property taxes are paid out. I would really appreciate your assistance in enforcing Loan Care to follow the law. Happy to provide more details if needed.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-04-10

CA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: In XXXX of 2019 I sent a check to my mortgage service in the amount of {$230000.00}. 6 weeks later I received an overdue notice and late charges. I called them was told that they had not received my payment. Another call and I was told that they had considered my check to be a '' payoff '' and they would only except a wire transfer for that. I told they it was not a payoff request and asked them what happened to my check. I was told they sent it to an address where I lived 8 months ago. ( even though I had filled out a change of address form, My check had my current address on it and they had been sending me the payment notices etc. to my current address for 6 months. ) I was told it was an error by their servicing company which was separate from the mortgage holder. repeated attempts to clear this up brought no relief. Eventually I placed a stop payment on the first check, wired a full payoff amount to them and I was charged a full months interest, late fees, missed payment fee and they refused to refund my stop payment fee on the lost check. ( never got it. ) Now, they owed me 2 amounts for overage on the escrow account. Ins. and tax refunds. One check was forwarded to me from the current resident of my old house, YES, they are still mailing to it! I have not seen the second check which should have been here weeks ago. I am asking for reimbursement for the interest, the late/overdue charges and my {$35.00} stop payment fee.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-04-10

Rehoboth Bch, DE

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: hi, I have reached out to LOANCARE LLC and requested a manager. An escalation ticket was put in they system. The manager advised me that the issue would be taken care of within 7 days and that someone will reach out to me directly with the status. We have a past due property tax bill that was due XX/XX/XXXX. The town did not reach out to us until XX/XX/XXXX. It was then that we received a final notice. I have called LOANCARE multiple times and each time I am given a different date as to when this matter will be resolved. As of today our property tax bill has not been paid. No one has reached out to us. I have called multiple times on this issue and it has not been resolved. I even emailed their customer service team about other issues and never receive a response back. Their customer service is terrible. Have you on hold forever and never respond to emails. We would like our tax bill paid out of our escrow account as it should of been paid last year asap. L
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-04-10

Sebring, FL

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: My home loan was transferred from XXXX to this new servicing company, Loan Care XXXX # XXXX. They were behind and delayed in sending communications about the transfer of the servicing and apparently my direct autopay was removed, even though they have it on file. I made the payment on XX/XX/2019 online since the new servicing Company stated over the phone, upon speaking with me that my autopay was not transferred and I needed to establish that again. I received this information also in writing. Today, XX/XX/XXXX, I realized that the new servicing Company ( Loan Care ) took the initiative to take another payment without my consent. I called them today immediately to request refund but they told me will not be able until XX/XX/XXXX. I told the specialist as well as his supervisor that's unacceptable because I have another auto draft mortgage payment that is scheduled for this Friday and my money {$880.00} needs to be back into my checking account this week, by XX/XX/XXXX, ASAP to avoid incurring in late fees or credit impact. I am reaching to this regulatory agency for help since they are not taking seriously my concerns. What they did is a violation of bank regulations, taking additional payment without customers consent even when the account shows current. That's crazy!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-04-10

Bostonia, CA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: XXXX XXXX XXXX XXXX, XXXX CA XXXX XXXX XXXX LoanCare LN XXXX We started a short sale with LoanCare on XX/XX/2018. Today, LoanCare has come up with even more illegal acts to add to the list of illegal acts they have committed on every file we have with them.. LoanCare has outright denied the short sale due to the existence of the PACE lien and having a low offer. LoanCare is demanding for the seller to pay for a lien that is currently on title, in order that it be removed from title before they will continue their review of the short sale, and have refused to counter us until the seller removes the lien from the property. There are several issues with this request. 1. This is a violation of CFPB Guidelines, as they are committing illegal acts. 2. This is an illegal request, according to California State Law CA 580e. See attached code. 3. This is a Federal RESPA violation, as they are requiring liens to be removed outside of escrow. 4. This is a violation of servicing guidelines, as they are committing illegal acts Does the investor know this is going on? 5. The California Department of Real Estate has stated emphatically that hiding liens from the investor, which LoanCare is attempting to do, is in fact ILLEGAL 6. LoanCare is attempting to act as escrow title in a transaction for which they are not only not in that role, but more obviously, they do not have the training, education nor licensing to act as title or escrow in the loans they service. This is also a conflict of interest for them. 7. LoanCare has no say in what happens to the other liens on the property. They do not have authority to dictate ANY TERMS on ANY OTHER LIENS. LoanCare needs to keep their focus on the loans they do service and do this appropriately. So far, they have shown an inability to service their loans appropriately since they do not even know the laws for the state and country in which they are servicing. **They do not understand current State and Federal Laws!! We have explained several times that this PACE lien is being assumed by the buyer and will be resolved through the escrow process. Additionally we have explained that the PACE lien is a state and federal program that is hooked to the property taxes, that it is superior to the mortgage lien and as such will survive any foreclosure. LoanCare is refusing to follow State and Federal Laws and says they dont care they are demanding the seller pay to have the PACE lien removed. Since LoanCare has only recently come into servicing loans in a short sale situation, we have seen disturbing trends in their document requests. These are happening on EVERY SINGLE FILE WE HAVE WITH LOANCARE. It is apparent to me that they are currently exceptionally unqualified to be in this industry. They do not have any knowledge of not only the State of Californias Laws, but also Federal Law and this is required if they are going to do business in the State of California, or quite frankly in any state. ***These directives are coming from LoanCares Underwriting department. LoanCare has trained their underwriters to commit these illegal acts, and as such needs to take full responsibility. Their request on this particular file really doesnt surprise us, as they have also demanded that property tax liens ( also superior to the mortgage lien ) be paid outside escrow and be removed from title. And just another Fun Fact for LoanCare in northern California utility companies lien the property every month and it is ALSO ILLEGAL to pay these outside escrow and remove those liens from title. IT IS ILLEGAL TO REMOVE PROPERTY TAXES AND UTILITY LIENS FROM THE TITLE REPORT - EVER. Since we end up having to file the same complaints on every file we have with LoanCare it is apparent they are not training their employees at all. Their employees do not know the difference between a lien and a financing statement, do not know how to read a HUD, are attempting to act as title and escrow ( which is a conflict of interest ), and do not understand Lien Priority. They have a training program that seems to be based on learning from their mistakes and CFPB complaints. Please reference the following complaints that we have filed on LoanCare : XXXX XXXX XXXX I want them fined the maximum of $ 1Million and for them to undergo training to learn how to properly service their loans. If they are not able to perform according to California State Law, then they need to be banned from doing business in California. CC : For ease, we are cross filing this complaint with the following organizations : 1 ) State of California Attorney Generals office 2 ) Congresswoman XXXX XXXX, House Financial Services Committee Chair
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-04-09

Snellville, GA

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

2019-04-09

Portland, OR

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: On XX/XX/2019 I received a Notice of Servicing Transfer from my current loan servicer, XXXX XXXX XXXX XXXX LoanCare , LLC. The notice said the loan servicing was being transferred from XXXX XXXX XXXX c/o LoanCare , LLC to XXXX XXXX XXXX XXXX LoanCare , LLC. This did not make sense, but I assumed it was an internal restructuring and that my loan would not be affected. On XX/XX/2019, I received an email notification that my mortgage payment had been received. This notice came from XXXX. I've never heard of this company. Their website indicates they are XXXX XXXX XXXX XXXX XXXX and that they are a loan servicing company. On XX/XX/2019 I called LoanCare to inquire. LoanCare maintains they are my loan servicer. 12 USC Section 2605 ( b ) requires a prior notice of a transfer of loan servicing. To the extent my loan has been transferred, I have not received the required notice. This is a violation of federal law. More importantly, I'm not sure that my loan, financial information, and banking information is secure. I've had problems with LoanCare previously in that they are reckless with the release of my financial information and do not take securing financial information seriously. I now fear they have released my financial information and allowed some third party to access my account. What is clear is LoanCare did not give notice as required by law, that XXXX withdrew money from my account without my consent or knowledge, and that some confusion remains between LoanCare and XXXX as to which of these entities is the loan servicer. Will you take some action?
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-04-09

Arcola, 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

Timely Response