Date Received: 2023-06-07
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Our mortgage company, LoanCare, has been holding our insurance claim money in escrow since XX/XX/XXXX when they cashed and deposited our checks. On XX/XX/XXXX their inspector approved our home repairs at 85 % complete and after numerous phone calls they released 62 % of our money saying the rest would be released after final inspection. On XX/XX/XXXX, their same inspector came back and approved work completed to 100 %. It has now been 2 weeks since the inspection and we have not heard anything from the insurance claims department. We have worked tirelessly since Hurricane Ian hit us on XX/XX/XXXX and LoanCare has caused us great stress and financial hardship as we struggled to put our home back together. My mortgage is current and payments have always been made on time. Please help us.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 342XX
Submitted Via: Web
Date Sent: 2023-06-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-07
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I currently live overseas and not in the mortgaged property. My mortgage was sold from the prior servicer ( XXXX ) to Loancare in late XXXX. XXXX told me Loancare was taking over the mortgage. On XX/XX/2022 I emailed Loancare 's Customer Advocate and explained that I didn't live in the property, provided my mailing address, and said " I was told that my mortgage was being transferred to you, but I have not received any information and I need to know where to make payments. '' I received an automated reply that day that said the office was closed but they would respond as soon as possible. I received similar automated responses ( still replying to my original XXXX message ) in XXXX and XXXX indicating they would respond as soon as possible, but have not gotten an actual answer. I will attach these messages. On XX/XX/XXXX, I again received a message from Loancare that " Our office is currently closed. Your inquiry will be forwarded to the team of specialists experienced in resolving your issue when our office reopens. Our hours of operation are from XXXX, XXXXXXXX XXXX XXXX XXXX. Eastern time. We will provide you a response as quickly as possible. '' It's been nearly 6 months and I haven't received information from Loancare about my mortgage, so I have not been making payments ( I wouldn't even know where to make them to or what my account number is with them ) and am scared they will foreclose without even notifying me.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-06-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-02
Issue: Trouble during payment process
Subissue:
Consumer Complaint: We made our last mortgage payment with Loancare Loan Number : XXXX XXXX XXXX and we were advised late by LoanCare that new Mortgage was under XXXX XXXX. XXXX XXXX to date has never received payment from LoanCare to-date. XXXXXXXX XXXX with Loan number XXXX has put us in delinquency status because LoanCare has not paid them the last payment we made in XX/XX/XXXX. We have made several phone calls to LoanCare and seems that every time we call customer service is outside US and hang up on us. Several emails made to LoanCare but never got resolved. We were never delinquent in our Mortgage payment since XXXX. We need your utmost support on this issue.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 94503
Submitted Via: Web
Date Sent: 2023-06-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-30
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Loancare is my mortgage company. They put in a COVID 19 partial claim on my behalf to help me come current. Its reflected with the VA as being sent to them in XXXX of XXXX. They never told me the partial claim was denied. It was denied because it was signed wrong. They never tried to get my claim resigned. In the meantime I made payments started like they said should be done on the partial claim. I made payments from XXXX of XXXX till XXXX or XXXX of XXXX and was informed that I couldnt make a payment, and not to attempt to make a payment bc my mortgage was in another partial claim. This went on until I think XXXX. Signed papers again for a partial claim modification, which I got duped into a 6.75 % interest rate with {$2200.00} payment a month, thats up from 2.75 % interest and {$1700.00} dollar payment. They never once tried to fix the partial claim that would have helped me and now act like they dont want to fix it to reflect the back amount owed that the VA will cover which is {$24000.00} and some change. I just want this company to come clean and do whats right. I couldnt help but default on the loan to begin with because of covid.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 121XX
Submitted Via: Web
Date Sent: 2023-05-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-28
Issue: Trouble during payment process
Subissue:
Consumer Complaint: On XX/XX/XXXX I submitted a bill payment which was mailed by my bank for my monthly mortgage payment of {$1800.00} to LoanCare , LLC. I called LoanCare on XX/XX/XXXX to determine why the payment was not applied to the account to avoid the late penalty that triggered on XX/XX/XXXX. They claimed that they had not received the payment. I then logged in to my account approx. eight days ( XX/XX/XXXX ) later to see the payment history to see if the payment was recorded. It was not. I then logged in to my account on XX/XX/XXXX, and the payment has magically appeared with an applied date of XX/XX/XXXX. So LoanCare is lying about when mailed payments are arriving and conveniently applying them to the account after the due date causing late fees. It does not take 15 days for mail to go from XXXX, OH to XXXX, PA. The states are adjacent and mail takes at most three days. This behavior is unacceptable and fraudulent.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: OH
Zip: 43026
Submitted Via: Web
Date Sent: 2023-07-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-27
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Hello I did a request to the bank Loan care to removal mortgage insurance from my conventional loan because property has more than 20 % equity and up, so I sent the request XX/XX/2023 because they told me that after XXXX mid I have available to asked it but unfortunately they are not giving me any feedback or specific answer or call or email from that date, why they need to wait more than 1 month to remove a PMI that I dont need to pay anymore because my property has a lot remodeling and is value up to XXXX XXXXXXXX currently. So I owe just XXXX XXXXXXXX in the property and I have more than 20 % equity, so I dont want to keep pay month and monthly this PMI unfairly!! So why they have other friend that requested removed the PMI from them credit and they answered VERY FAST! SO WHY THEY ARE NOT DOING THE NECESSARY TO REMOVAL IT IN FAIR TIME??? So I have today 1 month since I requested it to removal and they are not giving me any answer or call, so???? Why??? I dont have payments delays. Please can you help me to see why they are taking long time to do it?? Thank you in advance
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 328XX
Submitted Via: Web
Date Sent: 2023-05-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-24
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: XXXX paid Loan Care the back arrears in XXXX of 2022 and they also paid 3 months mortgage payments in advance. They sent an award letter to Loan Care letting them know the amounts that they were paying at that time which they stated were {$620.00} per month which Loan Care agreed to, but the payment amount was actually {$920.00}. So in the meantime the mortgage amount of the mortgage being in default has been steadily growing each month so that now it is {$5300.00} behind. Now keep in mind that I have called Loan Care several times and XXXX has sent them several letters asking for XXXX XXXX letters but they are ignoring the requests. XXXX has now said that there is nothing more that they can do and I do not know what to do. If Loan Care would just send them the Loan Modification letter it would be straightened out.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NC
Zip: 27909
Submitted Via: Web
Date Sent: 2023-05-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-22
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I have been working with Loan Care loan servicing regarding my past due and default payments because of XXXX. They referred me to Texas assistance program for help which I did and qualified for assistance .Loan Care gave THAF . The AMOUNT of funds needed to bring me out of default, and also secured my following three payments for XXXX XXXX and XX/XX/2023. My first payment was to begin again on XX/XX/2023. I just received a default letter from Loan Care stating that they had not received payments For XXXX and XXXX I have called them so many times and had Conversations regarding this very issue. I was assured that THAF was making the XXXX XXXX and XXXX payments. I called THAF and they told me TODAY that the outstanding XXXX and XXXX payments are sitting in an a approval pause portal AT LOANCARE!!!!! Loan Care has not confirmed the payment amount sitting in their own portal of communication.!!!! I am furious, and want to file a formal complaint and lawsuit for their negligence!!! I told them today to check their portal and approve the payments that are literally pending for them!! this process has cost me so much mentally and emotionally and financially I would like to sue them for harassment and negligence AND also this very day I got a certified letter in the mail that I was in default and asking to call to schedule some kind of person to come out and do INSPECTIONS & estimates on my property??? IN CASE of default????? XXXX!!!!! I will sue them and be on the news about this if that happens GUARANTEED.!! I want my loan servicer removed. I do not want to do business with Loan Care anymore. I have absolutely no trust in how they do business and I demand to be transferred to another loan servicing entity for the remainder of this FHA loan. 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: TX
Zip: 77084
Submitted Via: Web
Date Sent: 2023-05-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-21
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: In accordance with the fair credit reporting act XXXX Account # XXXX, has violated, my rights. 15 USC 1681 Section 604 States I have the right to privacy. 15 USC 1681 Section 604 A section 2 : It also states a consumer reporting agency can not furnish a account without my written instructions. 15 USC 1666B : A creditor may not treat a payment on a credit card or loan 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: GA
Zip: 30127
Submitted Via: Web
Date Sent: 2023-05-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-20
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Dear Sir/Madam, I hope this letter finds you in good health. My name is XXXX XXXX XXXX, and I am writing to you today regarding a matter of grave concern. It pertains to an unexpected and, in my view, unfair and unjustifiable increase in the interest rate on my mortgage, administered by my mortgage servicer, Loancare LLC account number XXXX. In light of the economic circumstances caused by the COVID-19 pandemic, I was fortunate enough to benefit from the provisions of the Coronavirus Aid, Relief, and Economic Security ( CARES ) Act, which allowed me to enter into a forbearance agreement on my mortgage payments. The forbearance period, which lasted for 26 months, was a great help during the financial strain caused by the pandemic. However, after coming off forbearance, I received a modification notice from my current mortgage servicer, [ loancare ], stating that my mortgage interest rate had been raised from 3 % to a staggering 7 %. The modification letter offered no clear justification for this steep increase, nor was there any communication indicating such a change during or before my forbearance period. I proceeded to call loancare the current servicing company to complain about this increase. The initial representative asked me to reach out to the VA because they canceled the provision that allowed for the balance of what was owed to be put at the back of the loan ( partial claim ). However, I explained that I got off forbearance before the cares act ended in XXXX last year and before the VA stopped offering partial claims. I explained that the previous servicer ( XXXX ) was actually working with me on the partial claim modification before my loan was sold to them. Loancare insisted I pay the 7 percent or sell my home. This abrupt increase in the interest rate significantly affects my ability to maintain my financial stability and meet the repayment schedule. I am especially concerned because, as per my understanding of the CARES Act and subsequent regulatory guidelines issued by the CFPB, my mortgage servicer should not make such drastic changes without adequate notice and reasoning. I also understand that any increase in interest rates should be in line with my original mortgage contract or stated in the forbearance documents, which in my case does not sanction such a drastic hike. I kindly request the intervention of the CFPB in this matter, given the potential violation of the regulatory framework governing mortgage forbearance under the CARES Act. I would like to understand the reasons behind this increase and whether it complies with the provisions of the CARES Act and relevant mortgage laws. Enclosed with this letter, you will find a copy of the notification I received from Loancare, outlining the increased interest rate, along with a copy of my original mortgage agreement. I appreciate your immediate attention to this issue. It is my hope that, with your assistance, I can address this with my mortgage servicer and arrive at a fair and equitable solution. Thank you for your time and consideration.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: DE
Zip: 19709
Submitted Via: Web
Date Sent: 2023-05-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A