LoanCare, LLC

2016-04-29

Lewisville, TX

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: I refinanced my home. I paid off the existing loan before the 30-day late period, yet my credit score has been hit with a 30-day late on the account. It has been a month and it is still there. They are saying I am paid in full and never late, yet my report still shows it.
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

2016-04-28

Fort Collins, CO

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

2016-04-26

FL

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: Our firm, XXXX XXXX, was hired by the Borrowers to investigate possible errors committed by their mortgage servicers, previously LoanCare and now XXXX XXXX XXXX. The Borrowers were approved for a loan modification XX/XX/XXXX that brought their payments down to {$1300.00}. The modification agreement stated all past due amounts including taxes, insurance, and any other fees past due, would be added to the unpaid principal balance. Less than 3 months later, the Borrowers were sent a notice informing them their monthly payment was increasing to {$1600.00} effective XX/XX/XXXX due to an escrow shortage. If the past due taxes and insurance were capitalized into the new principal balance amount as the modification agreement stated, there should not have been an escrow shortage and there should not have been that significant of an increase in their monthly payment. After receiving the notice of payment increase, the Borrowers contacted LoanCare several times over a short period of time to determine the precise amount of their escrow deficiency so that they could pay the amount and lower their payment back to what it was supposed to be according to the modification agreement. Each time they spoke to someone at LoanCare they were given a different figure amount that needed to be paid with no explanation as to why the amount was fluctuating. Due to their ongoing frustration, they hired our firm to investigate what they actually owed and why their payment had increased shortly after they modified their loan. We hired a forensic accountant to analyze the modification and the loan 's transaction history. In said analysis, it was determined LoanCare never capitalized any amounts other than past due interest into the post modification principal balance, which was the cause of the large escrow deficiency and improper payment increase. Moreover, the transaction history showed LoanCare did attempt to correct its error by posting a payment to the account that was then credited to the corporate advance and escrow balances in an attempt to bring the payment back to what it should have been. However, LoanCare failed to perform an updated escrow analysis after posting said credit/ payment and the account was still inaccurately showing the increased payment amount as due every month. Throughout this process, the client continued to make the modified payment amount each month, which was being placed into suspense each month and led to LoanCare charging excessive late fees monthly. Additionally, LoanCare finally performed another Escrow Analysis that found the Borrower 's escrow account actually contained a surplus however, they refused to disburse the funds due to the delinquency of the account, which was caused by their failure to properly process the modification and conduct an updated escrow analysis in the first place. The most recent escrow analysis conducted by LoanCare was dated XX/XX/XXXX and states the monthly mortgage payment for the last year was {$1300.00} however ; LoanCare was claiming the Borrowers owed {$1600.00} on the monthly mortgage statements. Then, conveniently the loan was transferred to a new servicer, XXXX XXXX XXXX, who is now attempting to claim the Borrowers owe several months of back payments for the inaccurate amount of {$1600.00}. When the issue was presented to XXXX, they claimed there was nothing that could be done because it was the past servicer 's records. And when LoanCare was notified of its errors, it claimed there was nothing that could be done since the servicing rights have been transferred to XXXX.
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

2016-04-24

Blairstown, IA

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

2016-04-23

Discovery Bay, CA

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: There was a preforeclosure on my home XX/XX/2014. The loan was subsequently sold to another lender and the original lender was paid off and the account was closed. I agree that the loan foreclosure proceedings started but did not complete and that that it should reflect in the history. However in the current status the loan shows as foreclosure. This is incorrect and should be reported as closed or transferred not Foreclosure as indicated on the report. I have submit documentation to both credit reporting agency XXXX and the lender and both seem to believe that Foreclosure is the correct status. While the loan transfer shows correctly with XXXX and XXXX, the mortgage company and XXXX refuse to either correct or delete the tradeline for inaccuracies. XXXX currently shows this as a foreclosure not a transferred loan. The notes are correct the current status of this Loan with LoanCare is transferred not foreclosure LoanCare refuses to update their or resubmit the appropriate code that shows transfer even though they acknowledge no Foreclosure occurred. LoanCare refuses to correct the report to show transfer closed.
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

2016-04-22

Northside, NC

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: Myloan care used to be my mortgage servicer. They stopped servicing the loan in XXXX 2015 and I didnt realize that until early XXXX 2015. My payment was made thru online bill pay at XXXX to them, instead of going to the correct, new servicer which is XXXX XXXX. I 've spoken to XXXX care multiple times, sent numerous emails asking that they refund my payment because it rightfully should have been sent and received by XXXX XXXX. They have been non-responsive to emails which they were supposed to respond to within 10 business days. I filed a ticket # with them Ticket # XXXX and sent proof to them back in XXXX showing where my payment had been made to them and they said they 'd research it and give me a refund. It is XXXX and still no refund. The XXXX check was for XXXX. I have also filed a ticket with XXXX and proof of payment made from my checking account is : For XXXX XXXX {$2900.00} Reference # XXXX and old account # XXXX ( mortgage account # with myloancare ).
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

2016-04-21

TX

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: My name is XXXX XXXX, Account number XXXX, with Loancare ( A XXXX XXXX ) XXXX XXXX XXXX XXXX XXXX, XXXX XXXX. I have been told that XXXX is the financing company. My loan initially originated with XXXX lending, but was sold to XXXX XX/XX/XXXX and has been with XXXX ever since. My address is XXXX XXXX XXXX XXXX XXXX XXXX, Phone : XXXX. I purchased my home brand new/built and closed on XXXX/XXXX/XXXX. I have a fixed rate at 4.375 %. Promise to pay is {$150000.00} at closing. I am a first time home buyer. I have never been late and have paid my mortgage promptly each month for the billed amount of {$900.00}. I have never been advised of any Escrow shortage except on XXXX/XXXX/XXXX when I called in and inquired about the minor change in my mortgage payment ( It increased to {$900.00} ). I was told that I had an Escrow shortage of {$19.00} which resulted in the increase. This was not drastic so, ignorant to Escrow and how it worked, I paid the negative balance in full and resumed my payments as normal. Up until today ( XXXX/XXXX/XXXX ) I have continued to make my normal monthly payments, sometimes adding a few dollars extra to principal or to escrow. To my surprise when I logged in today to make my payment ( early ), I was shocked to know that my mortgage was increased from {$900.00} to a whopping {$1700.00}. As a home owner for less than 2 years. I was frightened and was in tears! I immediately called and spoke to XXXX ( ID XXXX XXXX who told me that my Escrow was {$5800.00} in the negative? I was beyond frightened and in utter disbelief. No one has ever given me any heads up, warning and even when my made my XXXX payment, there was no heads up or update advising me that this over dramatic increase was about to take place. It is my understanding that any increases in property taxes or home owners insurance, would take place between XX/XX/XXXX and XX/XX/XXXX, but never would cause an increase that high on a fixed 4.375 interest rate. Also, I am totally confused as to how a shortage of nearly {$6000.00} could occur in less than XXXX mos since in XXXX/XXXX/XXXX, I was told that my shortage was only {$19.00} ( I do have the statement ). I called and spoke to a Supervisor, XXXX, at XXXX. XXXX was very tentative and appeared to be very knowledgeable. I felt relieved to speak to her, but unfortunately she was unable to help me. She indicated that it appeared to be a major discrepancy in my paperwork. I explained that I absolutely could not pay {$1700.00} ( nearly 2 times my mortgage ) by XXXX XXXX and that my home was not a fancy home even nearly worth that amount in mortgage. My home, while comfortable, is a very base model " XXXX XXXX '' with no upgrades or fancy amenities in a very rural area with no sites. If I were able to afford a mortgage of that XXXX, I most definitely would have purchased a {$300.00} - $ XXXX home with all of the bells and whistles, not a base model. There is something seriously and severely wrong here. I reached out to an attorney who referred me to you for action. I am in desperate need of any help or direction that you can give. I have a strong payment history and I do care about my credit and do want to be adversely affected by errors made on behalf of the lender and/or servicing company. I beg and plea that you please review this matter as promptly and expeditiously as possible. Best Regards & Sincerely, XXXX " XXXX '' XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-04-19

MI

Loan servicing, payments, escrow account

Mortgage: FHA mortgage

Complaint: In XXXX 2015 my wife and I closed on a new home. We received a mortgage through XXXX XXXX, which was serviced by LoanCare. In XXXX it came to our attention that we had not received any form of mail, phone call or email from XXXX XXXX or LoanCare. No statements or anything relating to our mortgage. We spoke with a lady at XXXX XXXX and she told us that our mortgage was 30 days past due and that another payment was due at that time. I explained that we never received any sort of statement, email or phone call telling us that our payment was due. She directed me to LoanCare, so I called them. The LoanCare representative insisted that we had in fact been receiving statements, past due notices, phone calls and emails warning us of the situation ( he was was quite rude and not interested in hearing that this was indeed not the case ). Of course I immediately made the payments but was told that my credit report now reflected a 30-day late payment. I asked the rep to tell me what phone numbers he had on my file and he read them to me. Neither of the numbers were ours, and XXXX was a toll-free number. The email address was correct, although I had never received anything from them via email. He offered no apology but said he would change the phone numbers. We went back to our email to see if we somehow missed a notification telling us payments were due. Nothing. In fact, the first contact I had from LoanCare via email was in XXXX after I decided to register with their website. Then in XXXX we finally received a piece of mail from LoanCare containing a statement with a due date of XXXX XXXX, with a note attached reading : " Please find enclosed your XXXX statement. This statement was scheduled to be mailed in XXXX, but the mailing was unfortunately delayed as a result of a programming error with the print vendor. We sincerely apologize for the delay in mailing this notice ... '' Obviously the ball was dropped on their end from the start and they are unwilling to acknowledge it. We still have not received a statement for XXXX, which is the payment they reported as 30 days late. We have been insisting that the blemish to our credit report be removed yet after repeated attempts LoanCare refuses. We have provided them with the evidence that the error is theirs but they do not seem to care. I have all of the documentation to back the statements I 've made above. Hopefully this process will result in a correction to our credit report. Thanks in advance.
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

2016-04-12

Wesley Chapel, FL

Loan servicing, payments, escrow account

Mortgage: FHA mortgage

Complaint: THIS IS NOT A DUPLICATE : I recently submitted complaint XXXX against Loan Care for not forwarding my {$2000.00} ( sent XXXX/XXXX/2016 ) payment to my new servicer XXXX. I found out today that they finally did forward the payment to them, but {$170.00} short. I sent my payment for {$1700.00} with an additional {$200.00} additional principal payment. Today I received a Loan Statement from XXXX showing that they only received {$1700.00} plus {$31.00} additional for principal posted on XXXX/XXXX/2016, almost two months later. Consequently, they have pocketed {$170.00} that should have gone to my principal. They are also applying my principal payment almost 60 days late.
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

2016-04-11

Hon, HI

Loan servicing, payments, escrow account

Mortgage: VA mortgage

Complaint: Loancare LLC states I missed a payment, did not pay correct amount, charges late payment fees every months, when I have banking documentation clearly showing I have paid on time every month. I contacted them when I received credit bureau report that I was two months delinquent on mortgage. They never once contacted me to discuss. Each phone call with them they tell me a different story, and continue to charge late fees, even after I have sent them documentation three times showing payments on time.
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

2016-04-09

Wesley Chapel, FL

Loan servicing, payments, escrow account

Mortgage: FHA mortgage

Complaint: Our Current Servicer sent us a letter that our loan is in default and threatening legal action. We purchased a home on XXXX/XXXX/2016 mortgaged through XXXX. We were provided payment coupons that said that our first payment was due XXXX/XXXX/2016. I sent a payment XX/XX/XXXX to XXXX XXXX plus additional principal payments. A day after the payment was sent, I received XXXX additional invoices, 1 ) Loan Care and 2 ) XXXX XXXX each claiming that they were the ones I should send my payment to. I called both companies on XX/XX/XXXX and both claimed that I should pay them. I was able to get XXXX XXXX to say that XXXX was who I should pay and that the payment made to Loan Care would be transferred to XXXX. I set up auto pay with XXXX, but noticed they did not take the payment out as scheduled by XXXX/XXXX/2016. I called and was told that they have not received any funds and that I was a month past due. Consequently, they could not auto draft my payment and manually took my payment ( plus additional principal ) over the phone. I was not notified by LoanCare that XXXX purchased the loan ( on XXXX/XXXX/2016 ) until I received a letter mailed XXXX/XXXX/2016. Long story short, I have made all of my payments and am still in default on my loan facing legal action. I am also concerned that I will be paying interest on what was paid while they XXXX with the money I sent.
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

2016-04-09

CA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: Multiple issues : LoanCare, a XXXX company which services my home loan failed to provide proper notice and disclosures when they placed their own insurance coverage on my home loan. Second, and a more alarming issue is the insurance they placed on my home without proper disclosure has the same coverage I pay for on my own, and there was XXXX % + more per month than my insurance. The insurance company LoanCare chose, and the XXXX times higher than market rate home owners insurance premium resulted in an unnecessary burden on my family. If I am experiencing this, this means there are many others out there harmed.
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

2016-04-07

Forest Grove, OR

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

2016-04-07

Temperanceville, VA

Credit decision / Underwriting

Mortgage: FHA mortgage

Complaint: I missed a payment in XX/XX/XXXX with Loan Care. I applied several times for a Loan Modification, but was turned down each time. XXXX XXXX, they contacted me for a loan modification. Loan Care signed me up for their loan modification program. I had to make a payment XX/XX/XXXX, XXXX XXXX, and the XXXX of each month, which I did. I used my debit card, and noted the name of the person to whom I gave the payment, since they would never give me a confirmation number. XXXX XXXX, Loan Care turned my account over to XXXX XXXX XXXX ', which is another division of their company. I continued making my payments with XXXX ' per my agreement with Loan Care . When I completed the loan modification program, I attempted with a couple different companies to refinance my mortgage at a lower rate, which would lower my monthly payments. I learned The XXXX XXXX had reported my XX/XX/XXXX payment as late, and reported my XX/XX/XXXX payment as not being made. Thus no other company would do a refinance for me, and The XXXX XXXX could keep charging me a higher rate. I contacted the XXXX XXXX citing names and dates of my payments. They refused to remove their wrong information from my credit report, stating they could report whatever they wanted because I was in a loan modification program at the time.
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

2016-04-05

Wake Forest, NC

Application, originator, mortgage broker

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

2016-04-05

Point Arena Air Force Statio, CA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: By XXXX XXXX, 2016, we had made full payment to be applied to our XXXX payment due XXXX/XXXX/2016. That money has been in the hands of LoanCare ( a subsidiary of XXXX, which is a subsidiary of XXXX XXXX, which is owned by XXXX XXXX XXXX ) since XXXX XXXX, 2016. I called LoanCare XXXX on XX/XX/XXXX and spoke with " XXXX '' XXXX XXXX. XXXX who said the XXXX money would be applied within 2-3 business days to the payment due on XX/XX/XXXX. I called two or three days later and talked with " XXXX '' Agent No. XXXX who said that the money would be applied by XX/XX/XXXX with nothing additional due for XX/XX/XXXX. On XX/XX/XXXX, not seeing that the money had been applied to the XX/XX/XXXX payment, I called and spoke with " XXXX '' Agent No. XXXX who said it would be done by XX/XX/XXXX. I asked why now it was XX/XX/XXXX and her response was she could n't speak for someone else. I responded that she had my previous calls in the call log and she agreed. I asked for her supervisor and was sent to " XXXX XXXX '' Agent No. XXXX who said it would now not be applied until XX/XX/XXXX.I said I was just told XX/XX/XXXX and he had no justification for the additional time. I asked for his boss and he called her " XXXX XXXX ''. I asked for her agent number and he said she did n't have one because she was a supervisor. I responded " Are n't you a supervisor? '' He had no answer for that. He said there was no point in talking with her because she would say the same thing. So they have had our payment since XXXX XXXX and have yet to take care of it. And spew XXXX while speaking with their client.
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

2016-04-04

Cumming, 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

2016-04-04

Sacramento, CA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: The subservicing company I pay my mortgage to recently changed. I had been working really hard to find out how to do it. It felt like not providing me with the necessary or helpful information was intentional as time passed. I actually learned facts that were essential for the process from a friend. I was planning to have an appraisal done ( with XXXX XXXX XXXX XXXX ) to cancel the PMI when I was notified of the change. The new company, LoanCare, LLC is ignoring all my requests. They say they did n't receive my initial email request and subsequent emails are bounced back as undeliverable. I have yet to speak with anyone but a receptionist who disconnects calls when transferring to insurance dept. They say all over their website that multiple inquires may prolong the process. Yet the process never starts. I believe this is intentional. I 'm sure XXXX people like myself are eligible for PMI termination. But this is free money for them so OF COURSE they do n't want anyone to cancel it early, never mind helping them to do it by providing information. I am really really angry. I HAVE NO CHOICE about who I pay my mortgage to. And they know it and treat their customers like garbage.
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

2016-04-04

San Gabriel, CA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: My mortgage was transferred from XXXX Mortgage company to Loan Care in XXXX 2016. I was not given the new loan number from Loan care until after XXXX XXXX, therefore I paid the first payment to them via electronic check from my bank XXXX XXXX XXXX with my old mortagage number. I started getting calls from Loan care that my payment was delinquent. I called the customer service rep at Loancare who told me they will look into it and get back to me. I never heard back from them, only call was from loancare telling me I was delinquent on my payment. Finally, in XXXX I asked for a request to look into it, once again did n't receive any calls/letter about it, called two weeks later and they told me to send them a copy of my bank statement showing the payment was made. I faxed that information and did n't hear from them. Called back another two weeks later and they told me that they never got my bank statement ( I have a fax showing it was sent to the right number and faxed to them ) and that they could n't help me. I went on their website and uploaded a scanned copy of the bank statement and fax confirmation and obtained a ticket number. I called again a week later and they told me they do n't have that information available, and wo n't be able to help me and I can not speak to anyone in the CONSUMER solutions department, who may have that information. I am getting called every day from debt collection about this " late '' payment, which Loancare wo n't look into, wo n't resolve and wo n't help me figure out 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

2016-04-03

Franklin, TN

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

2016-03-30

Conway, SC

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

2016-03-30

Largo, FL

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: We have a mortgage on a condo in FL. We have been making regular on time electronic payments for close to 22 months. In XXXX 2016 the mortgage servicing company did not post our payment. Our bank statement showed that the payment had been sent, the amount deducted and received. The transaction was marked completed by the bank. I called the mortgage servicing company and asked them to check on it. XX/XX/XXXX came and I made the payment and the same thing happened. The money was deducted but the mortgage servicing company again did not acknowledge receipt. I have made a call per week to the mortgage servicing company with no satisfactory resolution. Yesterday I received a certified letter telling me that we are in default. Today I have again made calls to the mortgage servicing company and my bank to send proof of payment.
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

2016-03-30

Spanish Spgs, NV

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

2016-03-29

Jamaica, 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

2016-03-29

Flower Mound, TX

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: Yes Timely Response