Date Received: 2023-07-25
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Our issue concerns a hail claim on XX/XX/XXXX. Our insurance company issued a check within about three weeks of a large hailstorm which did severe damage to our roof. Due to substantial damage, we arranged for a contractor to come and begin the work on XXXX-the very soonest we could get it scheduled. He performed the work and we endorsed and sent our insurance check to our mortgage company in the amount of {$45000.00}. Once they received the check, they advised us they needed some additional information regarding the repair and that once the repair was completed, we would be required to schedule an inspection with the mortgage company to ensure the work was done. The documents were signed and uploaded as soon as the work was completed - on XX/XX/XXXX and the inspection was scheduled on XXXX. Once the inspection was completed, we reached out the mortgage company, who advised us funds would be released in 5-7 business days. After no funds were released, we contacted the mortgage company who advised us that they needed the license or liability insurance from our contractor, which we sent to them on XX/XX/XXXX. Once they received this, they advised us that the 5-7 days starts over. After the 7 days, I called again, no funds released and I'm told my funds are still in process and that it would be another 3-5 days. I'm now at 11 days and no funds. The resolution team does not return my calls and I requested to speak with a manager and am told it takes 1-2 business days for a return call. Meanwhile, my contractor has not been paid as Loancare is holding 100 % of our funds in escrow. We have no idea at this point when they will release the funds but we have to pay our contractor or take out a loan to do so.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 75013
Submitted Via: Web
Date Sent: 2023-07-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-24
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I am writing to formally complain and claim about the denial of my request for the removal of Private Mortgage Insurance ( PMI ) on my mortgage account with LOANCARE As a responsible borrower, I have diligently met all the necessary criteria for PMI removal, as outlined in the Homeowners Protection Act ( HPA ) and the terms of my mortgage agreement. Despite this, I was informed on XX/XX/XXXX that my request for PMI removal has been denied AGAIN after 6 years in a row demanding this removal on the grounds of late payment last 6 months and XXXX 80 % due to XXXX stop payment this company raised mortgage payment and loan without notice, agreement or any legal reason to do so.. However, I strongly believe that this denial is unjustified for the following reasons : Meeting Loan-to-Value ( XXXX ) Requirement : According to the terms of my mortgage agreement and the HPA guidelines, I am eligible to have PMI removed once my loan-to-value ( XXXX ) ratio reaches 80 % or less XXXX As of XX/XX/, my XXXX ratio is LOWERS 70 %, which satisfies the requirement for PMI removal. Timely Payment History : I have consistently made on-time mortgage payments for. My timely payments have contributed significantly to the reduction of my outstanding principal balance and subsequently, my XXXX ratio. No History of Default : There is no history of default, or any other significant negative events related to my mortgage account. I have demonstrated financial responsibility and commitment to fulfilling my obligations as a borrower. Home Value Appreciation : The value of my property has appreciated considerably since I obtained the mortgage. This appreciation, coupled with my regular mortgage payments, has contributed to the reduction in my XXXX ratio. Given these reasons, I am confident that I have met all the criteria necessary for PMI removal, and I request that LOANCARE reconsiders its decision and promptly removes the PMI from my mortgage payments. In accordance with the HPA, I expect a written response to this complaint within 30 days from the date of receipt of this letter. Your response should provide a detailed explanation for the initial denial and the steps taken to rectify this situation. Additionally, I expect a clear timeline for the PMI removal and the subsequent adjustment of my mortgage payments. Please direct all communication related to this complaint to the address provided. I am prepared to provide any additional documentation or information necessary to support my claim for PMI removal. Failure to address this complaint in a timely and satisfactory manner may prompt me to seek appropriate legal recourse and report this matter to the relevant regulatory authorities. Thank you for your immediate attention to this matter. I trust that you will uphold your commitment to fair and responsible lending practices by resolving this issue promptly. Sincerely,
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33837
Submitted Via: Web
Date Sent: 2023-09-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-22
Issue: Trouble during payment process
Subissue:
Consumer Complaint: The response I just read from your site states they are the wrong company. My mortgage was with XXXX and I need to be provided the correct website, then, to pay principal payments. I received a notice in the mail with no way to pay by check through the mail and they have deleted my online account with XXXX without legally informing me of a change of ownership in my mortgage loan. My actions are legal and are not going to change, period. This game of hiding the ball for who owns the loan is not mine to play and I will not. Stop defrauding my and wanting my home. You're not going to get it, period. It's mine and is going to stay mine.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 92804
Submitted Via: Web
Date Sent: 2023-07-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-19
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I have this loan for approximately 7 years and pay on an auto payment that is {$70.00} higher than the amount due. The property is two units on one lot or parcel number. In mid XX/XX/2023 I received an auto dialer call asking me to call LoanCare. I called and the lady I eventualy got on the phone explained my payment was short due to an increase {$300.00} per month in the cost of insurance. I explained that was incorrect and we got the insurance department on the phone. It turns out they misread my policy and didnt realize my insurance covered both units and so they added lender paid insurance for one unit at a cost of {$3000.00} a year and thats what raised my payment. They said to not worry about it and they would fix it asap. I followed up at the end of XXXX and was told they were working on it still. On XX/XX/XXXX the credit bureau notified me my credit has dropped XXXX points due to a 30 day late to LoanCare. I instantly called them and was eventually hung on during a transfer. This happened 3 times on Monday XX/XX/XXXX. Each call was close to 45 minutes before the supposed transfer to an escalator or supervisor. On Tuesday XX/XX/XXXX I called 3 more times before finally reaching an " escalation '' person as there are no supervisors. She was nice and we spent close to 90 minutes going through everything. She said the lender paid insurance was removed but my payment was still {$300.00} higher per month but couldnt explain why. She did say my actual insurance was paid twice this year but at a cost of {$800.00} per year it wouldnt have increased my payment that much. She recommneded I pay the difference and she would email me an escrow breakdown. I never received any email. I asked to speak with someone to help with the mark on my credit, she explained that department does not use phones apparently and told me to fax them. I have sent that fax twice with no response or change. On Friday XX/XX/XXXX I missed a call from the insurance department at Loancare. I called back and it took me 3 tries again and over 2 hours to get a person on the phone. She didnt understand my insurance policy somehow and was asking me questions about it but couldnt seem to grasp the concept of 2 units on one loan. I asked my insurance company to reach out as well and theyve had a similar experience. In summary I would really appreciate someone not working from home with kids screaming in background and dogs barking to please call me and help get this impound account corrected, and correct the late on my credit. Thank you XXXX XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 93314
Submitted Via: Web
Date Sent: 2023-07-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-19
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I currently have my loan through LoanCare and have had issues with Private Mortgage Insurance. I was told by their employees my PMI can be dropped at 2 years with no missed or late payments and at least 20 % equity in the home. XXXX XXXX - XXXX requested the PMI to be dropped. The lady told me I completed all the requirements, and she would put the request in for me. XXXX XXXX - When I called about another issue, I asked about PMI being dropped and they told me it was never submitted by they would do it at that time. I called back later in the day wondering about being credited the amount of the PMI and was told ( by their escalation team - Employee was XXXX and would not provide any other name or Employee number ) that I did not complete the requirements and that I needed to have 25 % equity in the home to qualify based on the backer of my loan ( Fannie Mae XXXX .That they have the documents I signed at closing and that it was 25 % not 20 % equity needed. Knowing this is incorrect, I contacted the company I financed my home through at purchase and it is 20 % equity - with my signature on the document. After this I went online to upload the document showing their error and I reviewed their PMI policy and the requirements only mention 20 % equity or if they are high risk loans. Which our loan is nowhere near high risk. After dealing with at least 4 people - all having conflicting stories or policies - I have exhausted all my options.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MO
Zip: 63109
Submitted Via: Web
Date Sent: 2023-07-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-18
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My mortgage servicer is loancare. I am formally making a complaint as they have been consistently mis-applying my mortgage payments. My mortgage was paid by HAF ( Housing Assistance Fund ) from XXXX XXXX XXXX Each month my payments were applied more than 30 days late. In XX/XX/XXXX HAF sent them a lump sum amounting to XXXX. They returned the lump sum and did not apply XXXXXXXX XXXX payment, then reported me to the credit bureau for being late. I called them over 30 times to explain to them that the payment should be applied to the principal balance. As of XX/XX/XXXX, I resumed my mortgage payments as HAF 's last payment was in XXXX. They have applied both XXXX and XXXX in an unapplied balance account. When XXXX payment is made, they will have 3 payments in this account without being properly applied. Their system shows that I am 78 days past due making me unable to make payments online. I was told 3 different dates for this matter to be resolved. Today when I called, the Representative is now quoting a much later date. The Rep. did mention that my account shows current with the credit bureaus and they would not report me thankfully.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33063
Submitted Via: Web
Date Sent: 2023-07-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-17
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Despite requesting a two-month forbearance to address my financial situation, they granted me XXXX months without my consent, and now I find myself XXXX months behind on payments due to their inefficiency in processing my requests. Here 's a brief summary of the events leading up to this situation : - In XXXX, I requested a two-month forbearance to stabilize my financial situation. - To my surprise, the company extended the forbearance period to XXXX months without seeking my approval or consent. - In XXXX, when I reached out to terminate the forbearance, I was advised not to do so, which led to further delays in my payments and increased financial distress. - Throughout this period, I have encountered countless obstacles, having to jump through hoops, fill out forms multiple times, and deal with representatives who seem unaware of proper procedures. The constant miscommunication, delays, and lack of a single point of contact have caused significant hardship for me and my family. This has negatively impacted my credit, financial stability, and overall well-being. I have attempted to resolve this matter through direct communication with the company, but the response has been unsatisfactory, leading me to consider filing a lawsuit to seek appropriate resolution. I urge your office to investigate this case and provide guidance on how I can obtain fair and prompt resolution. I believe that [ Name of Lender/Financial Institution ] has violated my rights as a consumer and failed to handle my forbearance request appropriately. Enclosed with this email, you will find relevant documentation, including records of communication, forbearance requests, and any other pertinent information to support my case. I kindly request your assistance in ensuring that my concerns are addressed promptly and that I am provided with a one-point contact to resolve this situation without further delay. Your attention and assistance in this matter are greatly appreciated. Please feel free to contact me
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 34232
Submitted Via: Web
Date Sent: 2023-07-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-17
Issue: Trouble during payment process
Subissue:
Consumer Complaint: On XX/XX/2023 I sent a RFI Letter to Loan Care and one to XXXX XXXX as of XX/XX/XXXX I have gotten no response I do believe that these servicing companies are predators who make their money by setting up people to loose their homes banks should not be allowed to sell your mortgage to these companies
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NJ
Zip: 088XX
Submitted Via: Web
Date Sent: 2023-07-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-18
Issue: Trouble during payment process
Subissue:
Consumer Complaint: On XX/XX/2021 my mom passed away. I was the trustee on the account for the mortgage and the estate of my stepfather to take care of my brother. The loan was automatically debited from our bank account each month XXXX 's payment was missed due to financial hardship as my mom passed away XXXX came and I made a payment XXXX came and I made another payment XXXX came and I made XXXX payments then I got a letter from loancare stating that we were taking off of automatic XXXX and that we were alone I tried to communicate with him sending him all the papers that they requested I also tried to make payments for what they said the defaulted and they denied them. I was in communication with I was also in communication with loancare on numerous occasions asking exactly what they needed to be able to bring current I don't understand why we were denied as we were the only living children they also said that they had made my brother the executor of the estate and I just received a letter stating that that was a mistake in their revoking it now and it's 2 years later. Every time I speak to an agent from their office they give me different documents that they need that I've already sent I've sent all documents over six times for them to say that they can't read them they're blurry to I needed one more name change document to each time it's something different so I feel like I've gotten the run around and they're forcing us out of our home and my mom passed away during covid and my brother is XXXX and I am his XXXX. I went to the title company who has named my mom on the title for the loan company doesn't show her anywhere.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 954XX
Submitted Via: Web
Date Sent: 2023-07-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-18
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: Pursuant to the Fair Credit Reporting Act 15 USC 1681 section 602 ( a ) states, " There is a need to ensure that consumer reporting agencies exercise their grave responsibilities with fairness, impartiality, and a respect for the consumers right to privacy. XXXX XXXX XXXX XXXX are consumer reporting agencies, and I am the Consumer. I also have the right to make sure my private information isn't shared, which is backed by 15 USC 6801, which states, " It is the policy of the Congress that each financial institution has an affirmative and continuing obligation to respect the privacy of its customers and to protect the security and confidentiality of those customers nonpublic personal information. LOANCARE LLC XXXX # XXXX is a financial institution by definition under that title.15 USC 1681 section 604a section 2 states, " In general subject to subsection ( c ), any consumer reporting agency may furnish a consumer report under the following circumstances and no other : in accordance with the written instructions of the consumer to whom it relates. '' LOANCARE LLC XXXX # XXXX, the financial institution and the Consumer reporting agencies XXXX and XXXX do not have my consent to furnish this information and they do not have my written consent. Any and all consent to XXXX, XXXX, LoanCare whether it be verbal, non-verbal, written, implied, or otherwise is revoked.15 USC 6802 ( b ) ( c ) states that " A financial institution may not disclose nonpublic personal information to a nonaffiliated third party unless the consumer is given an explanation of how the consumer can exercise that nondisclosure option. LOANCARE Never informed me of my right to exercise my nondisclosure option. Not only that, 15 USC 1681C ( a ) ( 5 ) also states, " Except as authorized under subsection ( b ), no consumer reporting agency may make any consumer report containing any of the following items of information. Any other adverse item of information, other than records of convictions of crimes which antedates the report by more than seven years. " This account is an adverse item they are reporting without my permission which is against the law.15 U.S.Code 1681s2 ( A ) ( 1 ) A states " A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate.15 U.S.Code 1681e states " Every consumer reporting agency shall maintain reasonable procedures designed to avoid violations of section 1681c of this title and to limit the furnishing of consumer reports to the purposes listed under section 1681b of this title.XXXX and XXXX are not maintaining reasonable procedures. Also in accordance with 12 CFR 1016 .7 states that " A consumer may exercise the right to opt out at any time. " I am opting out of your reporting services.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: OH
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-07-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A