Date Received: 2023-02-22
Issue: Trouble during payment process
Subissue:
Consumer Complaint: To start from the top I had taken the mortgage forbearance offered during COVID by my loan servicer, LoanCare - approx. 13 months +/-. At the end of it ( XX/XX/XXXX ) I submitted the necessary paperwork to see what options I had and entered into the trial period of making mortgage payments again. During this time I received an email from MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY ( MSDHA ) about their new pilot program Michigan Housing Assistance Fund ( MIHAF ) with the goal of it to bring mortgage payments current to those who qualify. I submitted the necessary paperwork around XX/XX/XXXX and then by XX/XX/XXXX I was alerted that I was DENIED in the MIHAF portal due to me being in a loan modification. At that time I had no idea nor had I received any paperwork related to a loan modification from LoanCare until AFTER this denial- approx. the last week of XXXX XXXX. In the MIHAF denial it referred me to one of the MSHDA agencies for additional questioning - NO APPEALS process at all was mentioned. I spoke with MSU EXT., a MSHDA agency and I had a terrible experience with them and things were dragged out for over a month. Even if I did decide to take the loan mod at that time I missed the low interest rate window by that time. After continuous back and forth with MSU EXT for almost 2 months, they were finally able to find the official appeals process for MIHAF which was an email address. I submitted my appeal on XX/XX/XXXX. I did NOT receive any response or communication from them regarding the appeal. I even requested call backs from management and nothing. I emailed the XXXX mailbox one more time back in XX/XX/XXXX, still NOTHING. By this time I gave up and agreed to start the process again with LoanCare, to which they had to do all of the paperwork again. I had to do 3 months of trial payments again which started last XXXX to XXXX. I received the modification paperwork in XX/XX/XXXX and finally agreed and signed the first week of XXXX. A week after signing, I received a message from the MIHAF portal saying my XXXX is approved - XXXX XXXX XXXX. I spoke with an agent and she gives me the details of my account stating that they accepted my appeal in XX/XX/XXXX and REQUESTED the back payment info from LoanCare but NEVER heard back from until XX/XX/XXXX, which is just a few days after I signed and agreed to the loan modification. I spoke to both LoanCare and MIHAF on XX/XX/XXXX - MIHAF says they approved to release the funds and bring my account current on XXXX. LoanCare says they objected to the funds on XXXX because I have accepted the loan modification. MIHAF has escalated to review this.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 48021
Submitted Via: Web
Date Sent: 2023-02-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-02-21
Issue: Trouble during payment process
Subissue:
Consumer Complaint: We write to report deceptive acts and practices by LoanCare in the servicing of our Home Equity Line of Credit ( HELOC ) account with XXXX Bank. LoanCare was previously sanctioned by CFPB for misrepresenting consumer loan payment schedules ( XXXX XXXX XXXX ). Their deceptive conduct continues today and despite multiple phone calls with customer service and several requests to speak with legal / compliance, we have been unable to resolve our request to reverse unauthorized rate increases on our HELOC which had an interest rate lock feature that we exercised on XX/XX/XXXX ( at a rate of 2.625 % ). When we received a notice of rate increase dated XX/XX/XXXX, we contacted Loan Care on XX/XX/XXXX. During that call, LoanCare ' s own customer service agent, XXXX, acknowledged our fixed rate and stated " this letter does not apply to you '' explaining that our 10-year fixed interest rate on our HELOC was valid until XXXX ( consistent with the features of the HELOC ). Despite that assurance, LoanCare has continued to increase rates on our HELOC ( now at 6.375 % ) claiming the HELOC is variable, and disregarding clear evidence to the contrary including the Promissory Note and recorded calls. Below is a timeline : XX/XX/XXXX - Borrowers execute HELOC with XXXX ( predecessor to XXXX ) with two segments - Segment 1 primary mortgage with fixed rate, and Segment 2 home equity line with variable rate. Promissory Note confirms that Borrowers are approved for a " Fixed Rate Advance '' for a term of 10 years ( i.e. XXXX ). The " Fixed Rate Conversion Option '' provides an option to convert the variable rate to a fixed rate XXXX times during the life of the HELOC. The Promissory Note further provides : " You may exercise your Fixed Rate Conversion Option by calling us... All conversions will take effect on the day you lock your fixed rate with us. '' XX/XX/XXXX - Borrowers follow instructions in the Promissory Note and call XXXX Bank to lock Segment 2 of the HELOC. The customer service agent confirms she " Locked Segment 2 at 2.635 %. Since HELOC ( Segment 2 ) is now below primary mortgage rate of 3.375 % ( Segment 1 ), Borrower makes additional {$5000.00} payment to Segment 1 ( See XXXX on XX/XX/XXXX at XXXX XXXX ). A request for the transcript of that recorded call regarding the Borrower 's exercise of the Fixed Rate Conversion Option and additional payment will corroborate these facts. XX/XX/XXXX - Borrowers receive notice that LoanCare will service the XXXX loan. XX/XX/XXXX - Borrowers receive notice of rate increase from LoanCare. XX/XX/XXXX - Borrowers contact LoanCare customer service to dispute the rate increase and XXXX in LoanCare customer service states, " This letter does not apply to you '' and confirms that our 10-year fixed interest rate on our HELOC is valid until XXXX. A review of the transcript from that call will corroborate these facts. XX/XX/XXXX - Borrowers receive a second notice of rate increase from LoanCare. XX/XX/XXXX - Borrowers send complaint via customer service information link disputed rate increase. XX/XX/XXXX - LoanCare Customer Communications Department NMLS ID XXXX replies " This HELOC has a fixed interest rate [ for Segment 1 ] but he also has a variable balance [ for Segment 2 ]. Look at the XXXX. Remember on some accounts the first draw is fixed and any draws after that are variable, which is how the get segmented. Please forward any documents for fixed interest rate or conversion to our website. '' XX/XX/XXXX - Borrowers respond, " You are wrong. We intend to report your fraudulent conduct to the appropriate regulatory authorities. Your own agent confirmed our HELOC is fixed until XXXX. You can not unilaterally change terms without contractual authorization. '' XX/XX/XXXX - Borrowers receive another notice of rate increase from LoanCare. XX/XX/XXXX - Borrowers provide LoanCare communications with XXXX confirming Fixed Rate Conversion Option on the HELOC ( Segment 2 ), noting LoanCare 's failure to honor the terms of the loan, and CFPB 's likely interest in misconduct and poor recordkeeping. XX/XX/XXXX and XX/XX/XXXX - LoanCare send additional rate increase notices. XX/XX/XXXX - LoanCare sends Borrowers a letter acknowledging fixed rate on Segment 1 and claiming variable rate on Segment 2, offering option to contact customer service to request conversion to a fixed rate for Segment 2 [ NOTE : at this point the interest rate on Segment 2 was double the rate we locked in XX/XX/XXXX ]. XX/XX/XXXX - Borrowers speak with XXXX at LoanCare to again dispute the rate increases and to confirm the interest rate lock in XX/XX/XXXX on Segment 2. LoanCare claims for the first time the fixed rate conversion in XX/XX/XXXX was not valid because new loan documents were not executed [ contrary to the express terms of the Promissory Note ]. Borrowers confirm line is recorded and intention to request transcripts of calls. XX/XX/XXXX - Borrowers receive voice mail message from XXXX at XXXX bank and is not able to reach the same agent. XX/XX/XXXX - Borrowers contact LoanCare and inquires about rates for conversion option during pendency of dispute, and LoanCare ( XXXX XXXX XXXXXXXX ) quotes a rate of 5.75 % starting in XX/XX/XXXX [ three months later, contrary to terms of Promissory Note providing new rate will take effect the day the Borrower converts the variable to fixed rate ]. Borrowers confirm line is recorded, request legal review of file, and request contact information for legal / compliance department. XX/XX/XXXX - Borrower contacts LoanCare ( XXXX agent XXXX ), is unable to reach XXXX, and requests complete file review before Borrower refers to regulatory authorities. XX/XX/XXXX - present. LoanCare continues to increase rates on HELOC Segment 2 that was fixed on XX/XX/XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: VA
Zip: 22101
Submitted Via: Web
Date Sent: 2023-02-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-02-20
Issue: Trouble during payment process
Subissue:
Consumer Complaint: XXXX XXXXEntered loan modification agreement process. Made on-time monthly payments to satisfy modification agreement. XXXX XXXX Made on-time monthly payment but did not have access to online account or online documents. Inquired when I would have online access. Was told my concern was being posted to the notes in my account. XXXX XXXX-Made on-time monthly payment but did not have access to online account or online documents. Inquired when I would have online access. Was told my concern was being posted to the notes in my account. XXXX XXXXMade on-time monthly payment but did not have access to online account or online documents. Inquired when I would have online access. Was told my concern was being posted to the notes in my account. XXXX XXXX XXXX Made on-time monthly payment but did not have access to online account or online documents. Inquired when I would have online access. Was told my concern was being posted to the notes in my account. Was also told I would have online access to pay my mortgage in XX/XX/XXXX. XXXX came and went, I did not have access to make online payments or access to see current loan documents online. I requested documents to be sent to me. They were never sent. XXXX XXXX I made my monthly payment and inquired about payoff documents being sent to me and current balance on loan. I was told the modification documents were still being reviewed and were not available. I inquired about my year XXXX 1098. I was told I would have to wait because the loss department did not handle sending out 1098s. XXXX XXXX I made my online payment and inquired about documents I requested. Upon being told I would have to wait for the documents, I sent LoanCare two certified letters and two regular mailed letters inquiring about the status of my mortgage and my 1098. By now, I could see my online account but all documents were not current, last year posted any payment was XXXX. I called LoanCare the third week of XX/XX/XXXX inquiring about my online account and my XXXX 1098 for taxes. I was told the representative was sending another email to her supervisor alerting them to my concern. I told the representative that I had been getting the same message about my account for more than a year. I was put on hold, then told LoanCare was sending out additional documents for me to sign due to an error they typed on the documents sent to me a year, XXXX, earlier. I was informed that the documents had not been mailed as of that date.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30021
Submitted Via: Web
Date Sent: 2023-03-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-02-20
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Hello, Back in XX/XX/XXXX, my mortgage company sold my mortgage to LoanCare. On my statement back on XX/XX/XXXX from my previous mortgage company they gave me my new loan number and where to send my payments. On XX/XX/XXXX, I still haven't heard from LoanCare, I had not received a statement or any communication so through XXXX, I sent my XX/XX/XXXX payment to LoanCare with the loan number that my previous bank gave me. The payment of {$2500.00} went through and I thought I was good. Fast forward around XX/XX/XXXX I received the statement for LoanCare saying I owe for XX/XX/XXXX. I called them and they said they have no payment from me. I have sent sent my statement, transmittal, and loan number ( s ) to this company and they keep saying they need more information like my statement. I have sent it several times, but they keep " denying '' me saying they don't have the information. I have proof through my statement and transmittal that I paid my mortgage for XX/XX/XXXX. XXXX has even tried helping. They have my money but won't apply it to my mortgage. They actually said it was my fault for putting the wrong loan number on it. I need an advocate. LoanCare has been terrible to communicate with and I just want to make this right.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NV
Zip: 894XX
Submitted Via: Web
Date Sent: 2023-02-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-02-20
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Attention Plaintiff LoanCare , LLC and Counsel of Paintiff XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX CASE NO. XXXX I, XXXX XXXX XXXX am writing to bring to your attention the errors related to LoanCare LLC mortgage loan number : XXXX. In XX/XX/XXXX, the funds of {$45000.00} wired to counsel for Plaintiff ( XXXX ) were not credited to my mortgage by LoanCare LLC. See attached Exhibit 1 which contains the details of the XX/XX/XXXX transaction. As per the new federal mortgage servicing rules, servicers are required to rectify errors in the servicing of mortgage loans. I request your prompt attention in addressing the issues described below. Mortgage Payment History and Payoff Errors : Upon review, it has been brought to my attention that your client must provide the entire mortgage payment history from XXXX to XXXX. To resolve these issues, LoanCare should comply with defendant 's request for information and collaborate with defendant to return the funds promptly. This will facilitate a quicker and more effective resolution of the errors. See attached Exhibit 2 for your reference. Mortgage Principal Balance Error : Your client LoanCare LLC made mistake to provide right current mortgage Principal Balance {$100000.00} as of XX/XX/XXXX per your client LoanCare. I have attached Exhibit 2 ( LoanCare LLC ). It is crucial for LoanCare to assess and determine the optimal approach for resolving these issues. Additionally, an incorrect payoff amount was sought through improper foreclosure procedures. Property Tax & Escrow Errors : It appears that your client has failed to pay the following expenses from the escrow account. Defendant paid the property tax for XXXX and XXXX described below. Find attached Exhibit B and Exhibit 6 from XXXX XXXX XXXX XXXX. Property Tax for XXXX XXXX, XXXX, amounting to {$6000.00} Property Tax for XXXX XXXX, XXXX, amounting to {$7500.00}. Defendant, XXXX XXXX, is objecting to the payoff amount for a property in XXXX XXXX due to errors in the escrow account. Find attached Exhibit B Exhibit 6 from XXXX XXXX XXXX XXXX. Original Warranty Deed, Title and Original Principal Amount Errors : Your client failed to provide the original warranty deed with the official XXXX XXXX doc stamp dated XX/XX/XXXX to the Court. Please refer to Exhibit A for further details. Additionally, your client did not provide the original title recorded instrument in the XXXX XXXX official Record Book XXXX, page XXXX, dated XX/XX/XXXX to the Court. The relevant documents are attached as Exhibit C. Additionally, your client did not provide the original mortgage, in recordable form and encumbering the subject property, in the original amount of {$91000.00}, form XXXX XXXX to the XXXX XXXX XXXX XXXX XXXX recorded Schedule B in the XXXX XXXX official Record Book XXXX, page XXXX, dated XX/XX/XXXX to the Court. The relevant documents are attached as Exhibit D. Servicing Error of Mortgage Reinstatement ( XXXX XXXX XXXX ) : Defendant, XXXX XXXX, is objecting to the payoff amount for a property in XXXX XXXX due to errors. I am also bringing to your attention an error in servicing the mortgage reinstatement by your client, XXXX XXXX XXXX ( Loan Number : XXXX ), and the related XXXX XXXX Case XXXX. In XX/XX/XXXX, the funds of {$45000.00} wired to counsel for Plaintiff ( XXXX, XXXX, and XXXX XXXX. ) were not credited to the mortgage by your clients LoanCare XXXX and XXXX XXXX XXXX. See attached Exhibit 10 and Exhibit 1 which contain the details of the XX/XX/XXXX transaction. Defendant, XXXX XXXX, request that LoanCare LLC respond to this letter within seven business days and take the necessary steps to correct these errors. Emailing the Internal Audit Department at XXXX and submitting a comprehensive statement detailing the suspected fraudulent conduct under the Whistleblower Protection Policy and Sections XXXX12.3187 and 112.3188 of the Florida Statutes. It is crucial for LoanCare to assess and determine the optimal approach for resolving these issues. To : LoanCare , LLC Attn : Mortgage Resolution XXXX XXXX XXXX XXXX XXXX, VA XXXX To : Counsel of Plaintiff XXXX XXXX XXXX XXXX XXXX, XXXX. XXXX XXXX XXXX, XXXX XXXX XXXX XXXX, FL XXXX Thank you for your prompt attention to this matter. Sincerely, XXXX XXXX ( FBI XXXX 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: 33073
Submitted Via: Web
Date Sent: 2023-02-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-02-19
Issue: Incorrect information on your report
Subissue: Information belongs to someone else
Consumer Complaint: XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, NY XXXX XXXX XXXX LOANCARE XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX, VA XXXX XXXX XXXX Acct # XXXX LoanCare Mortgage LLC # XXXX Date Loan Open : XX/XX/XXXX Loan Modification Date : XXXX XXXX File Number : XXXX Dear : to whom it may concern I am writing to inform you that XXXX XXXX XXXX has taken out a mortgage in my name without my consent. I first became aware of this situation when I received a letter from your institution regarding the mortgage. I was shocked and dismayed that someone had used my personal information to obtain a mortgage without my knowledge or permission. I have all the necessary documents to prove I'm a victim of identity theft. I strongly request that your institution take immediate action to rectify this situation. Specifically, I ask that the mortgage be canceled and removed from my credit report. I have also attached any documents that may help resolve this matter. XXXX XXXX XXXX asked me to help him close a deal on XX/XX/XXXX at XXXX XXXX XXXX, XXXX XXXX, NY XXXX. XXXX XXXX XXXX told me he needed someone with a fair credit score. I agreed and rented a room and a 1 % on the deeded. A year passed by I found out that he had taken a loan of {$450000.00} without my acknowledgment!? That's when I told XXXX what happened and why I have a mortgage under my name ; he told me he has a lawyer working on it. It would not affect my credit. That's when he toke me off the Deed that I was on 1 %. I didn't sign any paper or no cosign on the mortgage. He sent me an Email on XX/XX/XXXX, After I disputed the claim. He asked me to notarize a letter to take me off my credit report. The 2nd email he sent was an error. We all had to sing on the same day. We had to do it over again. The date has to be the same. Then we had to do it two more times because you need all four parts together : XXXX XXXX XXXX, XXXX XXXX XXXX, and XXXX XXXX. After going through that, I discovered he did a mortgaged modification. He removed me from the Deed, kept me on the mortgage, made a loan modification, and took an additional {$50000.00} loan. He promised to remove my name from the mortgage and tricked me into signing, and I thought he was pulling me from the loan mortgage. Thank you for your time and attention to this matter. Please go over the Document and review it yourself. Sincerely yours XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 10314
Submitted Via: Web
Date Sent: 2023-02-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-02-18
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Loancare through XXXX XXXX XXXX' is negligently or purposely delaying the release of checks to pay contractors for repairs to my property. It had taken me more than 7 or 8 phone calls in the last two weeks to attempt to get the checks released. Every time I call XXXX I receive a different excuse for the reasons the checks have not been released. Currently, I am paying the contractor out of my own pocket because Loancare is retaining the checks intended to pay the contractor.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 331XX
Submitted Via: Web
Date Sent: 2023-02-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-02-18
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I missed 2 payments on my mortgage last year ( XXXX & XX/XX/2022 ). My household income went from two to one. I made a partial payment for the month of XXXX. When I called in to make the second half of my payment I was told I could not make any payment unless it was the full past due amount. My first complaint is that no one informed me of this policy until it was too late, until I could not make a payment. It was suggested that I submit a mortgage assistance application through my service provider. I submitted one and was denied. I appealed it, showing that I could afford my mortgage in my budget. I would have been stretched thin, but I would have been able to keep a roof over my head. My appeal was denied. It was suggested that I request help through my state. That request was denied. During this entire process of seeking help, I was told that it would not show up on my credit that there were missed payments as long as I am actively going through the loss mitigation process. Of course, that was a lie. My household income went back to two, so I was told to submit another mortgage assistance application since I can show that I have more income coming in. I submitted an application in XXXX. Today 's date is XXXX. Every time I call to get an update there's additional documents that are needed for the underwriter to make decision. My second complaint my provider not telling me all the additional documents that were needed upfront, so that I could provide them. I feel like they are intentionally prolonging my request for assistance, so that my past due amount grows larger and larger each month. My third complaint is that every time I call the representative doesn't really know what is going on. They aren't able to tell me upfront if documents are needed. I have to literally explain the situation, inform them of the documents I've already sent in. They all refer me to do everything online and I do. I email all requested documents to their email, but for some reason they have a hard time informing me of what is needed in a timely manner. They will send a letter that takes 10-14 business days to get here and will have a no later than date on there for the requested documents. I understand my situation and it is my fault that I am in this situation to begin with. I can not fathom why offer assistance, if you are not going to provide. I have been advised that often times mortgage lenders will do this, because they know the loan is backed by the VA. I'm not sure what the true reasoning is, but I would just like to get to the bottom of this and get my mortgage loan back in good standing.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TN
Zip: 37042
Submitted Via: Web
Date Sent: 2023-02-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-02-18
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. 15 USC 1681 Section 602 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 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: NY
Zip: 12533
Submitted Via: Web
Date Sent: 2023-03-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-02-17
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: My XXXX XXXX XXXX XXXX husband. Refinance the home. Only in his name, but is showing on my credit
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: VA
Zip: 230XX
Submitted Via: Web
Date Sent: 2023-02-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A