LoanCare, LLC

2016-10-04

NY

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: Immediately after purchasing my XXXX home in XXXX, my mortgage loan was sold to LoanCare in VA. Since then they have put me through the ringer for trying to lower my monthly payment, knowing full well they were overcharging me for a small home in FL. I spoke to no less than XXXX people during the month of XXXX ( beginning on the XXXX and ending on the XXXX ) to do just that attempting to do the right thing in following all of these people 's directions. They were extremely inconsistent in that each person I spoke with had a different take on why I could n't achieve the desired result. I first paid {$1700.00} for the month of XXXX, then {$1500.00} for the month of XXXX, then finally {$1300.00} for XXXX and, which they say, will remain the payment going forward. They insist part of the payment go towards homeowner 's insurance which I already paid in full for the year XXXX XXXX XXXX XXXX ). They will NOT refund me that payment and continue to extract that from me. In addition, I also prefer to pay my own taxes, but they refuse to delete the escrow account ( claiming a ridiculous fraction of an amount between loan and equity ratio ). I can, and have, paid these XXXX items on my OWN and prefer to do so.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: Yes Timely Response

2016-10-04

Hilo, HI

Loan servicing, payments, escrow account

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

Disputed: No Timely Response

2016-10-03

Woodland, WA

Loan servicing, payments, escrow account

Mortgage: FHA mortgage

Complaint: My loan servicing was transferred to LoanCare XX/XX/2016. The performed and escrow analysis which was followed by an impound shortage notice. Upon research I discovered LoanCare had changed the terms of my loan and increased my MIP to a different amount than was in my original loan documents and final disclosures. I sent in the shortage and they applied it to my principal in error. I called and they corrected this error. Told me they would only be deducting the original MIP from here on out and that they made an error. XX/XX/2016 I refinanced my loan. My escrow was to be paid out and I logged on to their website to view the account history and verify the balance in escrow I was to receive. To my shock I discovered not only have they continued to deduct the wrong amount for MIP they misapplied the payoff and coded it XXXX different ways including something to do with foreclosure. I have never missed a payment and in fact had always paid early. I called them and they are completely ambiguous in their responses. I 've emailed with details of my issues on the mismanagement of my escrow and the account payment applications numerous times. Two weeks later on both cases I receive a response email simply stating my account is paid off ... never once addressing the root of the emails I sent. I continue to call and most recently when I pressed for transfer to a supervisor or department that is responsible for clearing things up I 'm told they do n't take inbound calls or they choose to end the call and hang up when I press for explanation of what is going on with my account and try and hold them accountable for the mess and errors they created. It 's been over five months since they took over the servicing of my loan. My account had not been corrected and their customer service department is of no help. They do n't have any answers to provide and simply say it 's " Under research ''. Five months??? Today I sit here getting ready to make my first payment to my new lender and I still do n't have a resolution to what is happening in my old escrow account, when it will be corrected or when I will receive payout of the escrow balance. This company is completely incompetent and is a prime example of why we had a housing meltdown that triggered the recession. They should be shut down and never allowed to manage mortgage account again. They are rude, unresponsive and totally incompetent. They have a fiduciary duty to explain and fix errors they create when managing a mortgage account and they fail to do that time and time again.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Disputed: Yes Timely Response

2016-10-03

Chula Vista, CA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: Loan care purchased our loan but does not except electronic payment. They only accept loans by mail that are paid up to six days late accumulating six days worth of interest each month. My prior servicer excepted electronic bill pay and the payments were made at the beginning of each month on the first. If they are going to except or purchase a debt they should be required to maintain the previous servicers practices.
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

2016-10-01

Estacada, OR

Credit decision / Underwriting

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

2016-09-30

Lawrenceville, GA

Loan servicing, payments, escrow account

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

2016-09-30

WV

Loan servicing, payments, escrow account

Mortgage: FHA mortgage

Complaint: Loancare processed a payment that was sent by the Equity accelerator program directly towards my principal and not my monthly payment for XXXX 2016. On XXXX/XXXX/2016, I received notice that my payment was late. The statement was from XXXX/XXXX/2016 but I did not receive it until XXXX/XXXX/16. I never received any other correspondence regarding any late payments. I called immediately and spoke to a woman and explained that the payment on XXXX/XXXX/2016 was incorrectly applied. She said that it would be reversed. I am currently trying to close on my FHA streamline and we were supposed to close as of XXXX/XXXX/2016. My loan is currently showing late, and I have tried to speak with a supervisor or someone in a department to get this done today. The call center reps are rude and uncaring and refused to let me speak with their supervisor. This company has the worst customer service I have ever experienced in my life and they are currently interfering with my families livelihood because they will interrupt the FHA Streamline process and will make me late on a payment. I am completely appalled at the service they provide, especially when you can only speak with a rude call center rep who will not give you any information.
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

2016-09-29

Douglas, MI

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: Customer XXXX XXXX via Web XXXX/XXXX/XXXX XXXX XXXX I refinanced my home in XXXX XXXX, with my first mortgage payment due XXXX XXXX, XXXX. In XXXX I received notice that my mortgage was transferred to XXXX XXXX XXXX XXXX and would be serviced by LoanCare, XXXX. I tried to make an account, but could n't, and as it was nearing the time I would need to make my first payment, I called to find out what was going on. The lady told me that since the effective transfer date was XXXX XXXX, the info was n't in their system yet and that they would mail me all of the info when it was in their system. I asked how what to do about my first payment, and she said that I could pay it once they had things set up, that there were no penalties of any sort for being late after being transferred, so not to worry. I waited and waited for the info packet to arrive, and finally on XXXX XXXX I gave up and called again. It turned out they had just put it in their system ( and I finally received the info in the mail a couple of days later ) so the lady was able to help me get my account set up. I immediately went ahead and paid my XXXX and XXXX payments. I noticed there was a " one-time payment fee '' of {$10.00} automatically added and thought that was steep, but it would n't let me set up auto-draft yet as I was " behind '' so I just paid it. The next time I went to make a payment, I was deciding between a one-time payment and auto-draft and noticed that there was no fee this time. When I looked at everything closer, that is when I discovered that the " one-time payment fee '' of {$10.00} was only for when you were paying XXXX15 days late. So even though I called well before my payment was due and was assured there would be no penalty ( as there was really no way for me to pay yet ), and I paid BEFORE they even sent me the info to allow me to set up my account ( as I had gotten impatient and called again ) THEY STILL CHARGED ME A LATE FEE. I emailed them about the matter and received no response. I forgot about the situation until recently receiving a notice that my loan is again being transferred. I once again emailed them about the situation, and once again received no response.
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

2016-09-27

Macomb, MI

Loan servicing, payments, escrow account

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

Disputed: Yes Timely Response

2016-09-27

Mill Valley, CA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: Mortgage servicer Loancare has repeatedly failed to credit our account after cashing payments. Just months ago fought through their system to get our payments credited to account but now its happened again and they are negatively impacting our credit rating and in essence creating a XXXX job for us to have our payments credited.
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

2016-09-27

Jonesboro, GA

Loan servicing, payments, escrow account

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

Disputed: Yes Timely Response

2016-09-26

NJ

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Complaint: I am writing to request an investigation into mortgage servicing practices by LoanCare financial products. I originally purchased a mortgage on my house with XXXX XXXX XX/XX/XXXX. I purchased a USDA loan which was explained to me at the time of settlement as having a higher interest rate than an FHA mortgage, but did not include any type of PMI in that particular type of loan for the life of the loan. Additionally, I find nowhere in my agreement where a PMI/XXXX fee may be instituted upon purchase by a new servicer. However, at settlement I paid {$3200.00} towards XXXX fees/PMI at the monthly rate of {$55.00}, which should have been amortized over the first 4.9 years worth of payments if I did have a PMI or XXXX fee associated with my loan. Additionally, the HUD-1 paperwork clearly breaks down my first few payments ( principle, interest, escrow ) and the space for PMI is blank because my loan did not have a PMI associated with it. Since then my mortgage has been sold twice. I had no issues with the first XXXX mortgage companies. The third mortgage company purchased my mortgage XX/XX/XXXX and immediately began charging my escrow account for XXXX/PMI. I was not aware of this as my monthly statements do not break down my escrow payments according to where my escrow is paid out. I was not made aware of this until XX/XX/XXXX when LoanCare sent me a letter stating that my escrow account was going to be short for year-end payments, and that I owed an additional amount that I could pay all at once or have included in my monthly mortgage statements ( a monthly increase ). I contacted LoanCare on several different occasions questioning the new fee and requesting to speak with someone responsible for PMI/XXXX to refund and discontinue the PMI/XXXX fee. Their customer service representatives refuse to transfer me to either a supervisor or someone responsible for this new fee ; and when I do eventually get frustrated and transferred I am always placed on hold for 10 minutes before being routed to a voicemail system. I never receive calls in response to the messages I leave. My statement arrived in the mail for this month, and without my consent my monthly payment has been raised to account for the money that has been misplaced from my escrow account. I called the customer service line, and the rep refused to transfer me to someone who could issue me a corrected statement at my normal monthly amount since this will be my last payment with LoanCare as my mortgage provider. Once again, after becoming increasingly agitated at the lack of respect and customer service I was placed on hold and sent to another voicemail answering system. This is the worst service I have ever received from any financial servicer. I am so frustrated that I am in the process of refinancing with a new mortgage provider. Multiple knowledgable parties have reviewed my original loan agreement documents and all are in agreement that what is happening here is theft. I will also be contacting FHA and USDA to advise that they investigate LoanCare as servicers of their loan products.
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

2016-09-23

Desoto, TX

Loan servicing, payments, escrow account

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

Disputed: No Timely Response

2016-09-22

Pacific City, OR

Loan servicing, payments, escrow account

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

2016-09-21

N San Juan, CA

Settlement process and costs

Mortgage: FHA mortgage

Complaint: In XXXX of XXXX I was offered a forbearance loan by XXXX XXXX then in XXXX of XXXX I was transferred to XXXX XXXX for a loan Modification, now I 'm working with XXXX XXXX as of XXXX XXXX, all with the LoanCare Servicing company. In XXXX California passed a law that the loan servicing company had to provide you with a written letter that your loan modification servicer was going to be changed to a different person. I have been tossed around by XXXX different people and each has a different answer to any question that I ask. I 'm being told now that my final loan medication will take 90 days to complete during which time they will continue to report my loan to the credit bureau as being late. I have made all of my forbearance loan payment and trial loan modification payments on time and yet I 'm continued to be punished by them. This has caused my credit to be greatly effected. And I demand someone look into the practices of the LoanCare because every call to them yields a different answer.
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

2016-09-21

Syringa, VA

Loan modification,collection,foreclosure

Mortgage: FHA mortgage

Complaint: I am writing to dispute the following information in my credit file status. Loan Care Servicing Center a mortgage company reported the sale of the property as a Foreclosure which it was definitely not. It was an Agreed Settlement ( account paid in full or less than the full balance ) to prevent/avoid foreclosure. I am requesting removal of inaccurate information/description reference foreclosure in status remarks on 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

2016-09-21

Lewiston, NY

Loan servicing, payments, escrow account

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

Disputed: No Timely Response

2016-09-20

Garden City P, NY

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

2016-09-17

Foothill Ranch, CA

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Complaint: I have XXXX issues with Equity Accelerator program offered by LoanCare : Issue # 1 : I closed my account with LoanCare on XX/XX/2016 ( see first enclosed letter ). When I closed my account, there was a remaining account balance of {$3200.00}. According to a LoanCare customer service representative, a check for this amount was mailed to me on XX/XX/2016. The customer service representative said the check should arrive in 7-10 business days. It has been over 10 business days, and I have not received the check. I contacted LoanCare again on XX/XX/XXXX to ask for a status on my check. The customer service representative said I should wait for two more days, and that she would contact me to verify that I received my check. She never called back and I did n't receive the check. I contacted LoanCare again on XX/XX/XXXX. This time I was told to call back on Friday, XX/XX/XXXX and request to be reimbursed one more time. In the meantime, I have a mortgage payment due on XX/XX/XXXX and was planning on using the reimbursement check from LoanCare to pay my mortgage. I 'm running out of time. Can you help me please? Issue # 2 : According to an LoanCare customer service representative, a check was mailed to me on XX/XX/XXXX and then again on XX/XX/XXXX for an agreement reached between XXXX XXXX and the Consumer Financial Protection Bureau ( CFPB ) regarding unfair/misleading practices ( see second enclosed letter ). I never received this check. I sent an e-mail to the LoanCare Redress Administrator and received a response that it 's too late to receive this check and that I should contact the CFPB.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: Yes Timely Response

2016-09-16

East Troy, WI

Loan servicing, payments, escrow account

Mortgage: FHA mortgage

Complaint: XX/XX/XXXX I took a mortgage with XXXX XXXX who had LoanCare processing the payments. Then, XXXX 's XXXX sold my mortgage to LoanCare. I have had nothing but problems with LoanCare. They have never been able to process my payments in a timely fashion. Or, they misplace my payments or my payment just happens to be sitting on someone 's desk. When they do process my payment on time.They always are calling on the XXXX of the month to tell me I am late. They never post the payments on my statements when they finally do process the payments on time. For example ; I had my XXXX XXXX payment posted on XXXX XXXX per what the phone stated and when the check went through my checking account. But, on my statement on XXXX XXXX, XXXX it does n't show that I paid. The due date states XXXX XXXX, XXXX and it is even double the amount. Every time I call they take forever to answer and when do the people are rude, they hang up on you, and do n't have a clue on what they are talking about. They tell me I need to send my payment to another address. This has been has been the issue every single month that I have paid my mortgage. They are also using several different names other then LoanCare. I think that someone needs to go in and shut them down our show how to process payments. Their staff is horrible. I will be actively looking for a new place to pay my mortgage. I truly believe this company if frauding the system and keeps switching names so you guys do n't go after them. I was just on the hold for over a hour and still know on answered. I had to call back. They are telling me my payment is late even when I mailed it on XXXX XXXX, XXXX and they have n't received it yet. My credit is being ruined by them. Please shut this company down!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: Yes Timely Response

2016-09-12

NY

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

2016-09-12

Antioch, CA

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

2016-09-12

Burr Ridge, IL

Loan modification,collection,foreclosure

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

2016-09-07

San Jose, CA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: My mortgage servicing was transferred to Loan Care. They immediately started robe-calling me every day. The robocaller simply says " Please call Loan Care back at & lt ; number & gt ; '' and nothing else. Not necessarily exactly those words, but no actual information about reason for call or possibility to stop the calls. So far there are XXXX numbers they have called from ... XXXX and XXXX. In each case, they ask me to call the number they called from back. Interestingly, their caller ID does not come in as XXXX, but as XXXX XXXX XXXX XXXX XXXX XXXX. I 've called them back as requested several times and each time I 've been assured that they will stop the robocalls. Each time, they have failed to do so. It 's maddening and they call at different, mostly inconvenient times each day.
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

2016-09-06

Los Nietos, CA

Settlement process and costs

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