Date Received: 2023-12-21
Issue: Trouble during payment process
Subissue: Escrow, taxes, or insurance
Consumer Complaint: My loan was paid in full on XX/XX/XXXX. As of today ( XX/XX/XXXX ) I still have not received the balance in my escrow account totaling {$5300.00}. My account shows payment was issued on XX/XX/XXXX, but I still do not have a check. I've contacted the company multiple times and they keep saying to wait a week. It has now been 6 weeks since my loan was paid in full or 28 business days excluding holidays and weekends. The CFPB regulation 12 CFR Part 1024.34 states that escrow funds should be returned within 20 business days. My new address is on file with the company as I received a final escrow statement from the company at my new address as well as a paid-in-full letter. I'm not sure what the delay is in receiving payment, but the company is now in violation of federal law.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: IN
Zip: 46062
Submitted Via: Web
Date Sent: 2023-12-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-20
Issue: Trouble during payment process
Subissue: Payment process
Consumer Complaint: LoanCare XXXX was my mortgage servicer. Both my wife and I were laid off in XXXX and XX/XX/2023. We asked Loancare for Forbearance. After a battle with the front line team the department manager XXXX XXXX agreed and suppressed the credit reporting. The agreement was that at the end of the 3 months the interest and principle payments the were part of forbearance would be deferred to the end of the loan and escrow would be added to my payments spread over 4 years. Toward the end of that period I received notice that my loan was going to be transferred to XXXX XXXX. I communicated with XXXX XXXX and he assured me that the deferment would be completed before the loan was transferred so that my account would be current and not on forbearance with XXXX. They lied. Now XXXX shows me as XXXX+ months overdue! This risks my credit and financial stability. All of this happened over the course of dozens of emails, phone calls and messages to LoanCare executives through XXXX. These are deceptive trade practices and flagrant falsifications of information and failures to perform the basic tasks promised and agreed to.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 78641
Submitted Via: Web
Date Sent: 2023-12-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-20
Issue: Struggling to pay mortgage
Subissue: Applying for or obtaining a modification, forbearance plan, short sale, or deed-in-li
Consumer Complaint: Prior to missing a mortgage payment, I completed a financial hardship application in beginning of XXXX. I received a letter on XX/XX/2023 that they needed one additional pay stub from the prior pay period and my insurance docs as I pay that separate from the mortgage. I spoke with them a couple times asking either for a forebearance or modification- some sort of assistance until I was able to get back on track. However, I was told that since I do have income coming in, I was denied for a forebearance and because my income was too low, I was denied a modification. So despite my request for some sort of assistance my options at this time are either to go into foreclosure, deed in lieu of foreclosure or sell the house. I don't understand why they are unwilling to provide me some options to be able to get assistance for a period of time until my income does stabilize? It seems they are pushing me into foreclosure instead of helping me find a shortterm workout plan. I am a XXXX XXXX originating mortgages so they know very well just how devasted our industry has been in the past year due to historic increase in mortgage rates. I am paid 100 % commission so my pay is directly impacted by the industry lending volume. This year 's income was 45 % of last year 's income so they are also able to see that my current pay is not the norm but a direct result of Fed tightening. I indicated that I am not looking for any forgiveness of debt, I was requesting assistance in getting thru this unprecedented industry slow down and they denied my request despite my perfect payment history on all preceding payments and despite me reaching out for assistance prior to being late with my payment. What is the point of telling consumers to reach out to the server for help if they are unwilling to help during a time of financial hardship?
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CT
Zip: 062XX
Submitted Via: Web
Date Sent: 2023-12-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-21
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue: Application denials
Consumer Complaint: I applied for a loan assumption due to a divorce, which has taken loan care several months to reply. Loan care will not allow me to speak with any loan assumption specialist. They sent me a denial letter stating that I have insufficient history of income yet I have been in the same line of work for over 20 years. I have requested a callback Phone, email and Ive even gone as far as trying to contact officials via XXXX demanding a reply and nobody has answered me. In my initial loan assumption documentation that was provided to me I was charged {$400.00} and my credit was run. It took loan care several months for a reply. The initial rep that I spoke with said that I didnt need to add anybody on the loan assumption, documentation, all, although the loan assumption documentation said that I can add an immediate family member. They told me that I would qualify on my own since I originally qualified for the loan on my own. Fast forward several months later I get the denial. Now I am demanding to speak with somebody there and nobody is responding. I want to apply for my loan assumption again and if need be, I will add my mother whom is an immediate family member, which the original documentation stated that I can do and I want this done in an expeditious manner, and to be able to speak with somebody at loan Care.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NV
Zip: 89131
Submitted Via: Web
Date Sent: 2023-12-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-19
Issue: Trouble during payment process
Subissue: Escrow, taxes, or insurance
Consumer Complaint: we closed on our house XX/XX/2023 and won't send us our escrow check for XXXX. XXXX XXXX XXXX XXXX. First they said they sent check to wrong address. Then said they sent another check XX/XX/XXXX haven't received it.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AZ
Zip: 853XX
Submitted Via: Web
Date Sent: 2023-12-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-18
Issue: Trouble during payment process
Subissue: Private mortgage insurance (PMI)
Consumer Complaint: I received a letter stating I had met the XXXX to have PMI cancelled, but now they are wanting me to pay for an assessment on the property. From what I have read and on the document they supplied when I closed the loan, the PMI should automatically drop off when the principal balance of my loan reaches 78 % of the original value of the property. This was met in XXXX, however I still paid for PMI in that month as well as XXXX. After a hard time to get through to XXXX XXXX, I was told they would review and may get back with me in XXXX some time. During the Summer I was told by them it would drop off in XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AL
Zip: 36067
Submitted Via: Web
Date Sent: 2023-12-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-18
Issue: Written notification about debt
Subissue: Didn't receive enough information to verify debt
Consumer Complaint: After a thorough review of my credit report, I have identified discrepancies in the reporting of late payments. I am disputing the inaccurate reporting of late payment information on my credit report for closed and settled accounts. The other bureaus were able to update their report accordingly. I am questioning the process of investigation you are conducting that is different from other bureaus. I am seeking your assistance in correcting this matter promptly. Below are the details of the late payment information that requires attention : XXXX XXXX XXXX XXXXXXXX Those payments were made on time. I am requesting that the late payment markings be updated to reflect my accurate payment history. I acknowledge that there were late payments on the mentioned accounts, and I take full responsibility for the delays. However, I want to emphasize that the accounts have been closed and settled. The late payments occurred in the past, but I have since addressed and resolved these issues by closing and settling the accounts in question.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NV
Zip: 89074
Submitted Via: Web
Date Sent: 2023-12-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-14
Issue: Struggling to pay mortgage
Subissue: Trying to communicate with the company to fix an issue related to modification, forbe
Consumer Complaint: Start of issue : Starting with XX/XX/XXXX, I have submitted several requests for mortgage assistance to my service provider XXXX by LoanCare ( XXXX : XXXX ) due to having lost a job and a significant curtailment in my income that is still ongoing. First denial : I was initially denied the first time around because I was not sufficiently behind in payments. I took out a loan and managed to get caught up. Second resubmission : I resubmitted months later because the loan money had run out, and my new job paid just above minimum wage of {$8.00} an hour to {$13.00} later on. I then cancelled that request as I received repair money for my house which I used to get caught up on my payments. Mortgage increase During this time ( since XXXX last year ) I have noticed that my house payment has gone up from {$2200.00} a month to {$2500.00}, making it even harder to afford. I have also requested to stop my escrow payments as its ballooning my payment. Poorly functioning website : I tried for months to submit an online mortgage request to try and gain assistance as I can no longer receive loans. I attempted to fill out a request on the XXXX website, only to find out the website was down and not functioning properly ( This was only recently recognized in a email to all customers. ) Attempts at verbal communication : I have tried for months to speak with somebody and would encounter wait time in excess of an hour or more, Id receive calls from them responding to my request to talk, and upon answering I would receive a recording telling me to call XXXX, and I would get out through the whole unknown wait timeframe. My repetitious application/documentation emails : I repeatedly sent my request again and again via email, hoping that I would get some type of a response via email. I then logged in and found that my request was received but still pending documents. I had no idea what the documents were. However, I resubmitted everything for the application again via email and received no response or confirmation of receipt. Recent contact via phone : I managed to get a hold of a representative today, XX/XX/XXXX who told me that I needed to send a letter of explanation. It turns out that XXXX was using an old application request from XXXX of last year and had completely ignored my new request that I submitted, including my current expense statements, bank statements, paystubs, and everything, the documents they were requesting was contradicting what I provided they were tracking that I had no income and I have income now its not sufficient Provided recent status of foreclosure process : I was told that if they do not receive their requested documents in a timely manner, that my house can go to foreclosure. My XXXX XXXX in jeopardy : I am a XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX and this is my first house I ever bought. I used my XXXX XXXX to get my house and now I stand to lose it because of a horrible lack of communication and unwillingness to help. I am not married and have exhausted all means of financial support. Request for help : I dont know who to go to get the assistance I need, and I am begging for help. I just want them to look at the application and documents I sent recently and give me a lesser mortgage amount. Please.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30047
Submitted Via: Web
Date Sent: 2023-12-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-14
Issue: Written notification about debt
Subissue: Didn't receive enough information to verify debt
Consumer Complaint: I hope this letter finds you well. I am writing to address an important matter concerning inaccuracies in my credit report. Upon reviewing my credit history, I have identified late payments that I believe are inaccurately reported. I am seeking your assistance in either removing or correcting these late payment entries promptly. I understand the significance of maintaining an accurate credit history and its impact on my financial standing. I am committed to ensuring the correctness of the information reported on my credit file. LOANCARE LLC XXXX This account was NEVER late. The late payment is erroneous. Those payments were made on time. I am requesting that the late payment markings be updated to reflect my accurate payment history. If there is any confusion, I suggest you contact myself or LOANCARE LLC customer service. XXXX and XXXX have already removed this account from their records. There was an error present & they were able to find it. I'm confused about how you've verified it while the other bureaus have removed it. Please delete this from my file. It is inaccurate, erroneous, incomplete, or unverifiable. I respectfully ask that this problem be thoroughly investigated and that the erroneous late payment entries be removed or corrected from my credit record. For me, it is vital that my credit history fairly represents my sense of fiscal responsibility.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NJ
Zip: 08755
Submitted Via: Web
Date Sent: 2023-12-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-12
Issue: Trouble during payment process
Subissue: Trying to communicate with the company to fix an issue while managing or servicing yo
Consumer Complaint: Closed on new VA Home loan and assumption on XX/XX/2023. Included in my closing docs was a letter stating my mortgage was being transferred to Loan Care LLC and my XX/XX/XXXX payment should be made to them. The problem is that Loan Care had this security / ransomware event and thus, they have no record of my loan. In addition, I am a XXXX XXXX XXXX XXXX and trying to get Escrow fixed due to lack of property taxes in Florida. I cant do anything as they have no record of me. I can't pay anything to them because there is no record of the mortgage itself. The originating lender ( XXXXXXXX XXXX ) has been no help since they transferred the loan to them. All my calls to Loan Care ( after waiting hours ) have been no help as they state to just keep checking back. Loan Care has no email address to send anything to them. Not sure where to go from here but wanted it documented somewhere.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 32259
Submitted Via: Web
Date Sent: 2023-12-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A