LoanCare, LLC

2017-05-01

OR

Trouble during payment process

Mortgage: FHA mortgage

Complaint: My home purchase closed XXXX XXXX XXXX , with the first payment due XXXX XXXX . My mortgage lender sold the loan to LoanCare , LLC for servicing. My lender tole me I would receive paperwork from the servicing company a nd not to worry if there were " a little slow '' because I would n't be charged a late payment. Having received nothing by XXXX XXXX , I contacted my lender, who tole me the correct payment amount and emailed me a copy of the notice of assignment. He recommended calling the company to verify the address to send payments. On XXXX XXXX , still having received nothing fro m LoanCare, I called the number on the notice of assignment. The automated answer system a sked for my account number, so I entered the loan number on the notice of assignment and was informed that was not a valid account number. I was able to continue by entering my SSN instead. I was treated to an extensive automated run-around that lasted nearly 10 minutes. It finally gave me an option to speak to a live person, and when I punched that number on my phone, the system cut me off. I tried calling back and was cut off much earlier in the run-around. The phone system had informed me of a web address for LoanCare, so I tried th at next. The website also informed me that my loan number was incorrect, and it did not offer an alternative os using my SSB, so I could not proceed. I had no choice but to send my payment to the address on the notice of assignment and hope for the best. I included a somewhat tart letter outlining my significantly negative experience and suggesting the least the company could do would be to inform me of my correct loan/account number. They cashed my check but I have received no communication whatsoever. On XXXX XXXX XXXX , I again contacted my lender asking where I could file a complaint.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-05-01

Finksburg, MD

Trouble during payment process

Mortgage: FHA mortgage

Complaint: Have submitted a prior compliant under number XXXX . The complaint shows closed, but have been unable to read the company 's answer and justification for closing the complaint. Until I can read their reply, I consider this matter unresolved.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-05-01

Washington, DC

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: My mortgage servicing company " XXXX XXXX XXXX " has rejected my formal request to remove my $ 280 monthly PMI and I belive they rejected it without following their own guidelines and also contrary to what several of their customer service reps told me over the phone. I emailed them on XXXX XXXX with a formal request and also attached a bank appraisal showing that i am well within the equity limits to remove PMI. I was told over the phone someone will call me to schedule their own bank appraisal which I would have to pay for, and that following the appraisal they will determine if they will remove the PMI. Instead, and after several phone calls, I was told the request was rejected, even though they had NOT done the appraisal yet and even though they had my bank appraisal showing the house was worth over {$200000.00} above the loan amount. I have made any number of calls and even my lender has tried to follow up as a courtesy on my behalf but there is NO telephone number to call the mortgage insurance dept and they have not been in touch with me to discuss any details. My lender told me the servicing companies often reject PMI removal requests intentionally and that they wait to see which customer is tenacious enough to follow up becasue so many customers just give up after the first rejection. I believe my account has been handled very badly and I am especially frustrated over how hard it is to reach anyone in a decision making position at loancare. My email to them is below, and I 've since only been sent a letter advising me of the rejection. This, despite repeated phone calls that I want to speak with a XXXX who can trouble shoot what was either a misunderstanding, or a glitch, or an oversight, or possibly deliberate action in order to avoid removing my PMI. Thank you, MR ============== Dear xxxxxxx, Thank you for contacting us! We have received your inquiry and are assigning it to the proper department representative. Please note duplicate inquirie s may pr olong your time for resolution. To help identify your inquiry we have generated a reference/ticket number. Your reference/ticket number is XXXX . Please use this number in any further communication relating to your recently submitted email request. Please allow XXXX business days for a thor ough review and research of your inquiry. ====== Your Inquiry ====== Greetings, This is my formal request to have my PMI removed fro m loan number xxxxxxxxxx please. Property address : XXXX XXXX XXXX , Washington, XXXX , XXXX XXXX Please see attached a bank appraisal showing my home is currently worth {$600000.00}. The loan 's current principle balance is approx {$380000.00}. I 'd like to have your appraisal done as soon as possible please. Can you advise on timing and cost of appraisal, or any other costs/procedures I need to be aware of? Many thanks!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-05-01

MI

Trouble during payment process

Mortgage: FHA mortgage

Complaint: My mortgage was recently sold from XXXX ( whom I had no issues with ) to a company calle d Loacare. I have tried to make my payment online and they refuse to take it! I wanted to do payments onlin e as it 's easier and the woman I spoke with when my loan was transferred stated it was easy and no problems. My payment is due today XXXX XXXX , 2017 . I paid it online on XXXX XXXX , 2017 at approximately XXXX . I have an email they sent stating that it would be processed but they have not processed it and I should n't have to pay late fees. I called them numerous times only to be disconnected. The reviews for this company are all horrible and I 'm very frightened they will try to take my home. I tried to see if I could refinance with another company but I do n't qualify as I do n't have enough equity in my home. Please help! Someone needs to do something bout this crooked company.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-05-01

Aubrey, TX

Incorrect information on your report

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

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

Timely Response

2017-04-30

Columbus, OH

Trouble during payment process

Mortgage: FHA mortgage

Complaint: I have received a statement on XXXX / XXXX / XXXX from my new loan compan y LoanCare a servicelink compan XXXX XXXX XXXX XXXX XXXX XXXX , VA XXXX XXXX whom bought my loan from XXXX XXXX XXXX XXXX . The loan was bought in XXXX XXXX XXXX ( i know why the bought in XXXX now. ) I had XXXX XXXX XXXX since my last FHA refinance in XXXX . I have NEVER had an escrow issue for 6 years. N ow LoanCare is saying I am a tax payment short of their buffer. Which the amount is {$1600.00}. Their statement suggests even if I pay this amount my payment will be increased. This is very fraudulent and happens to millions a suspect a year. I have contacted XXXX to request all XXXX statements to prove this fraudulence. What is worst, is I have contacted LoanCare by phone without a successful explanation other than your short. I have emailed them three times in the last three weeks with NO response. Let me know if you need anything from me as I battle a bank ....
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-04-28

San Antonio, TX

Trouble during payment process

Mortgage: FHA mortgage

Complaint: In XXXX XXXX , I financed my home with XXXX XXXX XXXX . Loancare took over managing this loan. They sent out correspondence to me in late XXXX to participate in a Equity Accelerator Program by setting up bi-weekly payments, which I did. It was n't until XXXX XXXX that I found out ( because of an alert on my credit monitori ng ) th at Loancare was reporting my payments as delinquent. I called Loancare and they informed me that partial payments were not being applied to my loan, but being held in a " suspension account '' until the full amount of the monthly payment was received. Also they were charging late payment fees. All the while, I never knew that my payments were n't being applied appropriately. I NEVER got any notice from Loancare regarding the application of my bi-weekly payments, despite th e fact that they had the correct address, phone number and email address on file. In XXXX XXXX I spoke to someone at Loancare who se emed to get things cleared up. He requested that funds be reapplied correctly, he requested reversals of late fees, and told me that a payment of {$570.00} would bring my account current. I turned off bi-weekly payments, obtained my new mortgage payment, and turned on monthly payments. My next payment schedule is as follows : XXXX XXXX , XXXX , XXXX XXXX , XXXX , XXXX XXXX , XXXX , XXXX XXXX , XXXX , XXXX XXXX , XXXX , and XXXX XXXX , XXXX . These are the dates that payments were sent from my bank account. For whatever reason, Loancare is not receiving or applying these payments in a timely manner which is resulting in MORE delinquent payments being reported to the credit agencies. I 've rais ed 3 tickets to Loancare customer service. I 've sent PDF files of my bank statements as requested by Loancare for review of the issue but did not receive any response or resolution. I called to follow up on the initial ticket from XXXX XXXX and a representative told me that it was closed and/or not resolved because they did n't have bank tracing numbers to review. No one ever contacted me to request this information so I was advised to start another customer service inquiry! Conveniently, after I called to follow up on the resolution, customer suppo rt at Loancare sent me an email saying that they reviewed my account and were not able to remove the reported information to credit agencies. I decided to file another ticket to customer service and this time I sent PDF bank statements, tracing numbers, and another narrative of the problem. Cu stomer service responded that payments had been applied already and asked me for a copy of the transmittal form so they can see how the bank is sending payments. Loancare is supremely incompetent and I have done more than my due diligence in getting this issue resolved. Late payment fees continue to be applied and my credit has been significantly affected. Please give me some guidance so I can get this resolved. I also have credit reports with the negative reporting.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-04-28

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

Timely Response

2017-04-28

Austin, TX

Trouble during payment process

Mortgage: VA mortgage

Complaint: Loancare LLC drafted payment from my checking account and has failed to post the payment. This is the second consecutive time that this occurs. The account is setup on automatic drafts so I do not understand how it is possible to draft the funds from my checkings account and not post them.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-04-27

IL

Struggling to pay mortgage

Mortgage: FHA mortgage

Complaint: My problem is with the servicer of my mortgage loan , LoanCare. I r efinanced into an FHA adjustable rate lo an two yea rs ago with XXXX XXXX XXXX . The loan was then transferred to LoanCare. About a year ago I began having some XXXX health issuesmy XXXX flared up and also I was diagnosed with XXXX . I had to be hospitalized to remove my XXXX . I have been XXXX for the past 12 years working in asset recovery. When this happened, I was unable to work for several months and not able to collect any type of workmens compensation or insurance to make up for my lost wages. As a result, I fell behind on the mortgage loan. At that time Loan Care se nt me letters stating that they wanted to help, they understood, and when I called in their employees acted as if they were genuinely concerned and were ready to work with me to fix this problem. Unfortunately, the exact opposite has occurred. At first I had a single point of contact, but now LoanCare ha s changed this contact multiple times. My documents are sent and re-sent, then I am told they were never received or misplaced and I need to send them again. I have never actually been reviewed for any assistance options, and I am falling farther behind. I dont know why I have not been considered for any of the FHA programs that I know exist for homeowners who have suffered a true hardship resulting in loss of income. I am healthy again and working full time and my live in girlfriend works full time as well and contributes all of her income to our household. If LoanCare were to actually take the time to look at our financial information they would see that we qualify for assistance. I know that there are multiple programs available for homeowners with FHA loans -- -modification, partial claim, forbearance agreement or even repayment plan. I want to know why LoanCare has not given me a chance to be considered for any of these programs? I want to know why LoanCare is telling me I have to reinstate my loan in full or I am going to foreclosure. I want to know why my point of contact has been switched multiple times. This is an avoidable foreclosure, but the longer Loan Care drags it out the further behind I become. I am certain that LoanCare is required to review me for these government programs but so far that has not occurred and I want to report LoanCare to the CFPB.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-04-27

Calabasas, 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

2017-04-27

Chicago, IL

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

2017-04-26

CO

Struggling to pay mortgage

Mortgage: VA mortgage

Complaint: There are two problems concerning Loan Care LLC . First When I applied for this mortgage I was never asked if I had a job. At that time I did not have a job I was on unemployment. My thought was if they would give me a loan I would some time to find a new job and continue my payments. I did not find a job. The whole process was really a strange experience. The lady that came to do the mortgage came at XXXX at night, and did not get done until around midnite. Plus she did not seem to know what she was doing. Since it so late she could not call her office to ask questions. Secondly, I have been trying to g et Loan Care to clear my credit report from the reporting agencies since XXXX of XXXX , and I just get a runaround. They admit that it is past the time to take it off the credit bureaus. I think Loan Care may h ave done things during my application process that were not to the rules.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-04-26

Oro Valley, AZ

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

2017-04-26

Avon, PA

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

2017-04-26

Manitowoc, WI

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

2017-04-26

Pearland, TX

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

2017-04-24

Three Bridges, NJ

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

Mortgage: FHA mortgage

Complaint: Loancare took over my mortgage in XXXX of 2017. Paid previous payments to XXXX XXXX XXXX without any late payments. After not processing my first 2 monthly payments properly. They but a negative mark on my credit report and sent me a foreclosure letter after seeing the mistakes I promptly paid the past due amounts as well as all the current payments. I believe they processed this neg mark way before the allotted time aloud with out reaching out to me to rectify the problem. Sent letter to them on XXXX XXXX 2017 w as told in would be looked into 5 b usiness days afte r 10 i calle d in and was told in would be resolved on XXXX 2017. Ha ve called in multiple times with no return call or contact from a supervisor. And it is past the 30 days off investigation.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-04-21

Corona, CA

Credit monitoring or identity protection

Credit reporting:

Problem with fraud alerts
Company Response: Closed with explanation

Disputed: No Timely Response

2017-04-21

Allen, KY

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

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

Disputed: No Timely Response

2017-04-19

Katonah, NY

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: I have only been in my house for a little over a year and a half and already my original loan was sold to LoanCare a few months ago. They told me that my escrow account did not transfer over and 5 months later I received a statement from LoanCare stating that I have a XXXX XXXX dollar shortage and that my mortgage was going up $ XXXX /mo. I calle d immediately and was bounced around from one person to another saying that it was because my taxes or insurance went up, but I contacted my tax assessment office and insurance office and they did not. I was promised a call back and received nothing. After not receiving a call back I called again insisting to speak with a supervisor, to which no one was available. After calling back again the following night I was eventually told that until they figured out why there was such an increase in monthly mortgage payment, to continue paying my normal payment and they would get back to me. After trying to reach this same person time and time again with no such luck ( even though I had her name and ID # ), I was told that they could not honor the original agreement until they spoke with her ... which NEVER happened despite calling several times for over a full month. I went from speaking from one supervisor to the next and that they were going to send a 'priority email ' and that I would hear back the next day-which of course I never did. After calling yet again they were conveniently out of the office and I left another message with no response. After speaking to someone and reassuring me that things would be taken care of and I would get an answer the following day ... no one called and the increased mortgage am ount ( {$750.00 } higher than normal ) was directly taken out of my account without authorization. I called in a panic and no one was able to help me and I never received a call back. This company completely pushes you around fro m one person to the next and can never give you a straight answer or a call back. I had asked to meet in person but since they do not have a physical location they could not do this. They claim they could not cc me on any of their emails because they can only interoffice email which in 2017 seems like a complete crock. LoanCare is completely unreliable and it is pathetic that they can not even call back their customers and that are trusting them to handle thousands of their dollars and make false statements and lies.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2017-04-18

Aurora, CO

Loan modification,collection,foreclosure

Mortgage: Other mortgage

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

Disputed: No Timely Response

2017-04-18

Lenzburg, IL

Loan servicing, payments, escrow account

Mortgage: FHA mortgage

Complaint: X/XX/XX - Submitted a request to Myloancare.com to remove my PMI as soon as the payment I just mailed arrived. The check would put me over the 20 % equity in the house, I have consistently paid on time, since I 've purchased the house. And it 's been longer than 5 years since I owned the house, as a principal single household residence. On X/X/XX XXXX XXXX XXXX responded with, " Our records indicate that your loan was originated on XX/XX/XXXX . In order for your mortgage insurance to be removed you will have to pay ( MIP ) for at least 5 years and the LTV will have to reach 78 % on a 30 year FHA funded loan per the FHA guidelines. FHA does not allow appraisals or additional principal payments to remove MIP early on 30 year FHA loans. At this time, your loan has not met these requirements '' On XXXX , I responded w/ the Homeowner 's Protection Act and how I have met all the qualifications needed to cancel the PMI. I sent them the link and specific quotations to verify my request. Their auto response suggest giving the m 5 business days ... .. X/XX and XXXX I have followed up replying to the e-mail chain, requesting that the PMI be cancelled and submitting the backup and ticket number provided with the original request. Today, X/XX/XX , is the end of the 6th business day since my last request and in my last message, I had let them know that my next step is contacting the Consumer Protection Agency of the issue.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2017-04-18

Harsens Is, MI

Loan servicing, payments, escrow account

Mortgage: FHA mortgage

Complaint: My loan was transferred to loan care I did n't receive notification until aro und XX/XX/XXXX my house was pending sale I spoke with a rep end of XXXX start of XX/XX/XXXX . Asking should I schedule a payment arrangement or wait because wet were scheduled to clos e XX/XX/XXXX XX/XX/XXXX rep state d no they do n't report late loan until afte r 60days h owever according to respa that would also include the applicable 15 day Grace a fter the first of the month. Received documents of foreclosure help I contacted back they stated same if it was closing XX/XX/XXXX should be fine. Finally closed as agreed XX/XX/XXXX they reported me lat e I dope to XXXX agent XXXX starting he saw the error it would be fixed in 30 days. Called back it was pending called back still not fixed spoke with credit beauru whom stated I wss correct about Respa and loancare wss fatally reporting as if this was n't a new transferred loan called back spoke to a team lead who said I was correct and she would get it expedited and have a supervisor XXXX XXXX . w ithin 48 hours I never received said call. Meanwh ile credit score plu mmits when fact is I called and inquired not once but twice but three tim es and was told do n't worry about it and they were aware of close out date. So then speak to a supervisor XXXX XXXX whom stated that he apologized that all his agents and team lead I done with w ere miss i nformed and he would pull calls and speak with them but asas far you 'd he could n't fix because he does n't agree that the RESPA law follows That 60 day Grace also including the applicable Grace period of 15 days not to mention even so the lack of his belief or proper training to multiple agents instead of an appropriate payment arrangement advise costing out the XX/XX/XXXX would avoid me being reported a late payment when asked to send chores of those calls over to my credit reporting agencies to aid in the investigation he started its proprietary and he would do no such thing. I paid them in full followed the RESPA guideline even though I was not notified in a timely fashion of the transfer I called multiple times and I just want them to remove the payment history and remark off my credit as they agreed to do and dually agreed was the correct thing to do however the have led to me on multiple occasions bypassed RESPA PAYMENTS NOT CONSIDERED LATE. Durin g the 60-day pe riod beginning on the effective date of transfer of the servicing of any mortgage loan, if the transferor servicer ( rather than the transferee servicer that should properly receive payment on the loan ) receives payment on or before the applicable due date ( including any grace period allowed under the mortgage loan instrum ents ), a paym ent may not be treated as late for any purpose ) XXXX subverts as well add failed to make sure the document of transfer was received in a timely matter
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2017-04-18

NC

Loan servicing, payments, escrow account

Mortgage: VA mortgage

Complaint: I have a loan with loancare. They purchased my loan XXXX XXXX XXXX XXXX My first payment was due XXXX XXXX XXXX . Which I made. My original bank had auto-drafts set up to go to the old loan servicing company, XXXX . In XXXX , an auto payment check was sent to XXXX . They tried to cash the check and it came back returned. Mind you, they no longer own the mortgage. They turned around on XXXX and told Loan Care I had a returned check to their company. Loan Care too k one of my payments, I had made to them, and sent it to XXXX . Now, Loancare shows me as being behind a payment. I have argued with loancare over this matter, for 6 months. On XXXX XXXX XXXX , I spoke with XXXX XXXX out of the XXXX Florida office for loan care who after extensive research, that I had provided, agreed, that XXXX had received a payment that they were not entitled to receive. XXXX XXXX at that point said she would get the matter resolved. One month later I called, and LoanCare tells me that the problem is between me and XXXX since I was the borrower. If I wanted to be credited I had to contact them myself and get this mess sorted out. I asked loan care if they were reporting me as being delinquent on my mortgage and XXXX from LoanCare said, no, I have you good. My wife and I were going to get a car, and when the car dealership ran my credit report, Transunion showed me with XXXX negative comments from Loancare concerning my mortage. XXXX XXXX XXXX XXXX and XXXX XXXX XXXX I submitted a ticket to have that information removed from my credit report on XXXX XXXX XXXX . I received an email confirmation that my request had been received and to allow up to XXXX business days to research and resolve the matter. Today is XXXX XXXX XXXX LoanCare ha s not resolved this issue, nor given me a decision, nor removed the derogatory remark from credit report.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response