Date Received: 2023-10-31
Issue: Trouble during payment process
Subissue: Paying off the loan
Consumer Complaint: I have tried to payoff of LoanCare, XXXX this balance for over a week. I called XXXX XXXX to get a payoff amount. I questioned the amount given because it was principal only. I made that payment. I followed up and there was still a balance. I requested a new payoff XXXX XXXX. I received that statement, called that day and made the payment over the phone. the payoff was good through XXXX XXXX. I made the payment XXXX XXXX. I checked back on the website and there was still a balance. Someone called me XXXX XXXX and assured me the balance would be at XXXX when the all the updates were made. as of this morning, XXXX XXXX, there is a balance. The loan is set to be transferred to a new servicer as of tomorrow. I called today at approximately XXXX CDT and spoke with customer service then was transferred to XXXX XXXX The loan is still showing a balance. Someone at their company didn't do their job, and I'm having to follow up too many times.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AL
Zip: 35601
Submitted Via: Web
Date Sent: 2023-11-06
Company Response to Consumer: Closed with explanation
Timely Response: No
Consumer Disputed: N/A
Date Received: 2023-10-31
Issue: Trouble during payment process
Subissue: Paying off the loan
Consumer Complaint: We have a 3.5 % fixed rate mortgage. The bank that held the note recently sold it to another bank, at about half the face value because interest rates have increased so dramatically. I would like to buy the note but cant. It would be stupid to pay off the principle balance, but if I did the bank would have to unbundle the note and release it. Thats exactly what I want them to do, but at fair market value, not face value. This would effectively guarantee a risk free 3.5 % return on my investment and greatly simplify my retirement cashflow planning. This isnt about XXXX XXXX, it is about leveling the playing field for consumers.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CO
Zip: 804XX
Submitted Via: Web
Date Sent: 2023-11-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-30
Issue: Struggling to pay mortgage
Subissue: Applying for or obtaining a modification, forbearance plan, short sale, or deed-in-li
Consumer Complaint: Called trying to get options to help on my mortage payments, was told they couldnt do anything about it because ive already received help and that they would not help me even asked to talk to a manager/supervisor and was told for what if they were going to tell me the same thing.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 770XX
Submitted Via: Web
Date Sent: 2023-10-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-28
Issue: Trouble during payment process
Subissue: Escrow, taxes, or insurance
Consumer Complaint: My mortgage is processed by Loancare LLC. In XXXX, I requested my escrow requirement be waived and allow me to be responsible for my property taxes. After submitting the required paperwork, my exemption was approved in XXXX and my escrow payments to date were refunded to me through XX/XX/XXXX. I called Loancare to ask if my XXXX auto-pay could be updated to take out the XXXX escrow amount. I was informed it was not possible but I could call back for a refund. It was presented as a simple process. I called them back after payment had been processed. Customer service told me they processed the refund. However, I did not receive the refund. I called back in XXXX. I was told that the refund department needed verification that I had paid them the funds. I informed them that it was Loancare that processed my auto-pay as they had done in prior months and that their own statement showed the excess funds. They told me that I needed to submit a bank statement showing that the funds had been deducted from my checking account. I asked how did that prove anything if they didnt believe that they already had my funds. I was told that that was their process and if I wanted a refund I would have to comply. I am concerned about identity theft, so I submitted a statement with my only the last four on my account number showing and the actual transaction. This was not acceptable. This had already taken up too much of my time and headspace, so I submitted the entire statement, They sent more communication denying the refund with excuses such as needing additional information or saying they misunderstood the request. The final straw has been when theyve responded saying that the request is after 60 days of payment processing and can not be refunded. They do not mention what will happen with the excess funds or that they originally refunded the escrow balance well after 60 days. It seems they are looking to ways to frustrate their customers.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 78744
Submitted Via: Web
Date Sent: 2023-10-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-27
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: Loan Care reported 30day in XX/XX/2023 we are currently in XX/XX/2023. Loan care received payment on XX/XX/2023 which is within 30days. Theyre reporting inaccurate data that has caused an hardship on my financial status and employment. Ive called several customer representatives was told I would receive a call back from a manager that day and its been over two weeks no call, and no notification from from LoanCare. This mortgage company is practicing unethical behavior, causing injury to the consumer.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 76133
Submitted Via: Web
Date Sent: 2023-10-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-25
Issue: Trouble during payment process
Subissue: Trying to communicate with the company to fix an issue while managing or servicing yo
Consumer Complaint: I mailed this ( attached ) detailed letter to LoanCare 's Office of the Customer on XX/XX/. It details my attempts to get the loan maturity date problem resolved since XX/XX/. LoanCare opened Case # XXXX on XX/XX/ upon receipt of my letter. I have received no contact from them regarding this whatsoever. I called them on XX/XX/ to find out if they had received my letter and was given the case number then. As of today, XX/XX/, I received notice that my mortgage servicing is being transferred from LoanCare to XXXX on XX/XX/. There has been no mention of any resolution on the case.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: PA
Zip: 15044
Submitted Via: Web
Date Sent: 2023-10-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-24
Issue: Trouble during payment process
Subissue: Trying to communicate with the company to fix an issue while managing or servicing yo
Consumer Complaint: On XX/XX/2023 we had a frozen pipe burst causing damage to our home. Filed a claim with XXXX XXXX. They were very slow in their response but by the end of XXXX the water and asbestos restoration were complete and billed. XXXX XXXX XXXX of XXXX, CO is owed {$44000.00} and The XXXX XXXX is owed {$27000.00} of XXXX, CO. Fast forward a few months and XXXX XXXX is holding funds intended to pay the restoration companies and will not release them for payment. I have a lien on my home from the companies. All documentation XXXX XXXX has requested has been submitted. I call on a weekly basis and am told the same information ... " an exception has been submitted to release funds '' or " a request has been made to release funds ''. I get no where. I need help. Someone to get their attention and do something.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CO
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-10-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-23
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: In accordance with the Fair credit reporting act this creditor has violated my rights. Under 15USC 1681 sec 602 states I have the right to privacy. 15USC 1681 sec 604a sec 2 states a consumer reporting agency can not furnish an account without my written instruction. Under 15USC 1666b a creditor may not treat a payment on a credit card account under an open-end consumer credit plan as late for any purpose.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NV
Zip: 89031
Submitted Via: Web
Date Sent: 2023-10-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-24
Issue: Problem with a company's investigation into an existing problem
Subissue: Their investigation did not fix an error on your report
Consumer Complaint: When I reviewed my credit report, I discovered that some of the information was erroneous. The 3 credit bureaus must validate these accounts in line with Sections 609 ( a ) ( 1 ) ( A ) and 611 ( a ) ( 1 ) ( A ). It is not authorized to fail to validate these reporting accounts as unverified information without providing any proof within the period allowed by law. The following accounts need to be investigated and corrected from erroneous reporting in my file are listed on my credit report : LOANCARE XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 94544
Submitted Via: Web
Date Sent: 2023-10-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-23
Issue: Struggling to pay mortgage
Subissue: Trying to communicate with the company to fix an issue related to modification, forbe
Consumer Complaint: Good morning, below is the letter I sent to LoanCare requesting the removal of late payment history. My mortgage has been current since the start of XXXX. LoanCare granted me a forbearance due to XXXX and accepted the late payments in arrears ( 3 ) while in forbearance to make the account current. However, they reported all payments while in a 2 year plus forbearance as late. This has ruined my credit. The missed payments should not have been reported. Since sending the letter below, they are reporting additional payments as late from XXXX that were marked as current prior to sending the letter. Something is not right with this company. I am requesting the help of CFPB to resolve this issue. -- - Account XXXX. : XXXX XXXX XXXX XXXX XXXX. XXXXi FL. XXXX LoanCare Attention : Credit Department XXXX XXXX XXXX XXXX XXXX XXXX XXXX Subject : Request Removal of Late Payments During Covid Forbearance Dear LoanCare, I am writing to request the removal of late payments from my account during the Covid forbearance period, specifically after XX/XX/XXXX. I would like to clarify that the past due payments for XX/XX/XXXX through XX/XX/XXXX, prior to entering forbearance, have already been accepted and applied to my account. During the early stages of the XXXX pandemic, I faced financial and medical hardships, resulting in a three-month arrears on my account from XX/XX/XXXX through XX/XX/XXXX. In XX/XX/XXXX, my forbearance request was officially approved due to the impact of XXXX. While under forbearance, I diligently made payments to account for the missed payments prior to entering forbearance. The following payments were made and accepted : - XXXX : Payment made on XX/XX/XXXX - XXXX : Payment made on XX/XX/XXXX - XXXX : Payment made on XX/XX/XXXX Once these payments were posted to my account, LoanCare representatives assured me that my account would be considered current and within the forbearance period, and that the missed payments after XX/XX/XXXX would not be reported as late. However, I have noticed that the late payments between XX/XX/XXXX and the end of the forbearance are still reflected on my account. I kindly request that you update my account to reflect the removal of late payments during the forbearance period. Furthermore, I urge you to report this update to the credit bureaus, as the current reporting is significantly impacting my credit rating and creating financial burdens by increasing my interest rates. Additionally, this situation XXXX also have implications for my future employment opportunities. It is important to note that LoanCare is the only company on my credit record that is adversely affecting me due to late payments during a forbearance period. In comparison, a similar scenario occurred with another property I own, and none of the missed payments were reported as late to the credit bureau. Therefore, I kindly request a thorough review of my account and the removal of late payments while under forbearance. Thank you for your attention to this matter. I appreciate your prompt assistance in resolving this issue. Please feel free to contact me at your earliest convenience to discuss this further. I have worked diligently to maintain timely payments to all my creditors in order to rebuild my credit score after the significant challenges faced during the XXXX pandemic. I look forward to a positive resolution and the rectification of my credit record with LoanCare. Sincerely, XXXX XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33029
Submitted Via: Web
Date Sent: 2023-10-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A