Date Received: 2022-03-22
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I purchased my home on XX/XX/2021 and was a 10 % down buyer. I've had to pay private mortgage insurance since my date of purchase as I was below the 20 % equity threshold. I called my servicer, LoanCare , LLC, in XXXX to ask for an appraisal of my property and found out this month that XXXX XXXX, who XXXX my lender, sold my loan to, refuses to lift my PMI until it's seasoned. XXXX responded that XXXX XXXX XXXX XXXX, issued on XX/XX/2021, state The minimum two-year seasoning requirement is waived if the Servicer determines the increased market value of the Mortgaged Premises since the Origination Date of the Mortgage is due to substantial improvements. However, on XXXX 's website, https : XXXX, there is a clear statement that ; Other things to keep in mind about the Homeowners Protection Act Loan investors, including Fannie Mae and XXXX XXXX XXXX often create their own PMI cancellation guidelines that may include PMI cancellation provisions beyond what the HPA provides . But these guidelines can not restrict the rights that the HPA provides to borrowers. For example, the HPA does not contain any requirements for a loans tenure before a borrower may request cancellation or be eligible for automatic PMI termination ( known as a seasoning requirement ). Nowhere in my closing documents that I signed did I agree to their guidelines. Under US Code, 12 USC 4902, my lender is violating the federal law, as I read it, by preventing me from eliminating my monthly mortgage insurance and is even refusing to consider an appraisal to prove my equity has reached over 20 %. Which I believe was my right until this heinous regulation was put in place in direct opposition to the law.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: DC
Zip: 20009
Submitted Via: Web
Date Sent: 2022-03-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-21
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I fell behind on my mortgage due to covid19 and a household members XXXX diagnosis the same time covi19 started. I got approved for financial help from my county/state for mortgage assistance. The department of human services of XXXX XXXX New Jersey sent a fax of a purchase order that needed to be signed in order for them to release a check. This was sent on XXXX XXXX. My mortgage company has told me 5 different times already that they can see the document that needs to be signed, and will escalate it to the appropriate department. Everytime I call I get the same answer. It is like I am getting a runaround each time with no solution. I already have received some letters from the mortgage company about a foreclosure process. If they would have signed the paper and sent it back to my department of human services, I wouldn't be in this position. I called on XX/XX/2022, again XX/XX/2022, again XX/XX/2022, again XX/XX/2022, again XXXX, XXXX. All these conversations are recorded and saved in their notes, because evertime I call they can see everthing that was discussed. I talked to XXXX, XXXX, XXXX, XXXX, XXXX. I don't know why this is happening. I got your information from my department of human services.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NJ
Zip: 08053
Submitted Via: Web
Date Sent: 2022-04-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-20
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: We're currently applying to do a cash out refinance on our current home and our lender found an issue on my wife 's credit report. It is showing that we were late paying our mortgage for 120 days and it shows it being a student loan ... ... how is this even right? You can see the details on the screenshot. The entry was posted on XX/XX/2021. We paid our house in full on XX/XX/2021. We were wondering why our credit report took a hit and couldn't figure out why until a year later! This is absolutely atrocious and damaging.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NV
Zip: 89178
Submitted Via: Web
Date Sent: 2022-03-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-20
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My mortgage is serviced by LOANCARE, XXXX XXXX XXXX, XXXX XXXX XXXX, CA XXXX. Payments has never been late. The payments are made automatically by my bank each month. In XXXX XXXX the regular payment was made in the amount of {$950.00} PRIOR to the due date of XXXX XXXX. The payment was made Electronically and debited my account. I received a pst due email notice from LoanCare on XX/XX/XXXX. I contacted LoanCare. They indicated was never received. My bank informed me it was sent and received. Called back LoanCare. LoanCare asked for specific information, and copy of the transaction information. ALL was sent on or about XX/XX/XXXX. Then, I followed up next day but they said is not sufficient. I immediately made an extra payment to allow me time to follow up. I sent more information later with a letter from bank. Few days later, LoanCare said the letter was not sufficient! I followed with my bank, which sent ANOTHER letter directly to LoanCare on XX/XX/XXXX, based on LoanCare direct request. I sent a copy of this letter to LoanCare as well on XX/XX/XXXX! LoanCare has the necessary information to track my payment- all!! however, LoanCare is yet to apply my payment. The company is earning interest on my money, small might be..it is MY MONEY! imagine doing the same to XXXX... then you have good amount setting somewhere earning interest for someone!!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 90731
Submitted Via: Web
Date Sent: 2022-03-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-19
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I made several calls on Saturday, XX/XX/2022 to extend my CARES act forbearance to the remainder of its eligibility, however I was told multiple times that I was unable to extend until I am within 45 days of my forbearance end date. After detailing that this is a violation of the CARES, I was still denied under the guise we didnt deny you, we just have to wait until 45 days or less due to internal Loancare procedure and limitations. I believe this to be within their ability and that this either an act of malicious negligence, or legitimate violation of federal law.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 12303
Submitted Via: Web
Date Sent: 2022-03-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-18
Issue: Incorrect information on your report
Subissue: Public record information inaccurate
Consumer Complaint: Loancare is reporting to the credit reporting agencies that our loan was discharged through bankruptcy when it was NOT. I've submitted paperwork showing that it was never discharged, payments were never missed ( but this was not reported ) and the loan was paid off when we sold the home. We did have a bankruptcy, but the home was NOT included in discharged assets. I've sent the bankruptcy documents, sale documents, and payment history to XXXX and they continue to mark it as discharged through bankruptcy.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AZ
Zip: 86314
Submitted Via: Web
Date Sent: 2022-03-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-17
Issue: Trouble during payment process
Subissue:
Consumer Complaint: LET ME START BY SAYING Loancare has the worst customer service ever!!! Just read the customer reviews or complaints online!!! I was hung up on and treated with disrespect. I was on the phone for hours on hold and explaining my issues, being transferred to escalation and repeating my issues and getting the same poor service. In a nutshell, my taxes got messed up with the county so my escrow was running short each month, I sent in my mortgage payments. They, however, keep saying I'm late and its in forbearance. It is not in forbearance I have made over XXXX timely payments of XXXX sense going out of forbearance!! So when I made XXXX payments of XXXX in XXXX month the e-checks had the month and dates on the e-check for the months the payments were due for. Loancare took XXXX of the XXXX dollar payments and put it in my escrow instead of making my monthly payment. Therefore making me late in the month of XX/XX/XXXX '. That e-check should not have been cashed for anything but what it was intended for, that being my mortgage payment!!! So as a result Loancare sent in a late payment status to my credit bureau bringing my credit score down over XXXX. This also was told to me by Loancare it would be removed and taken off my credit, it is not!!! Lastly Loancare knows I am trying to refinance my mortgage with another company and I feel they are not doing what they promised to myself to keep my mortgage with them. My last recourse will be to turn this over to my attorney XXXX XXXX Attorney At Law. I have all my bank statements to back me up for each and every payment I have made on time to Loancare!!! My bank statements will show I am correct and all this nonsense should be cleared up!! Thanks to all this I have lost the interest rate I had locked in and my application has expired for my refinance!! This in i'ts self will be a law suit. I would also like to add My mortgage payment is not even XXXX a month it is XXXX so I am over paying on it each month. The last XXXX persons that said they would fix the problems are XXXX ID # XXXX and XXXX XXXX ID # XXXX BOTH HAVE NEVER GOT BACK TO ME EITHER!!! SIGNED A VERY UPSET CUSTOMER AND I HIGHLY RECOMMEND CONSUMERS DO BUSINESS ELSEWHERE!!!! THIS COMPANY STINKS!!!!!!!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: SC
Zip: 29579
Submitted Via: Web
Date Sent: 2022-03-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-16
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: In XX/XX/XXXX I sold a property in XXXX XXXX, XXXX, Texas. During the settlement process I was asked for, and supplied, XXXX Bank details for electronic transfer of funds. Subsequent to settlement, in XX/XX/XXXX, I received a paper Check via surface mail in XXXX for USD {$590.00}, even though electronic funds transfer details were supplied for settlement purposes. My XXXX Bank have advised they are not able to accept a physical paper Check, therefore I am unable to access these funds.
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: 2022-03-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-15
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: XX/XX/22 Called XXXX ( XXXX ) XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX /Loancare ( servicer ) to request the original documents : proprietary lease and certificate of stock. Informed that these documents can be mailed to me, I provided address XXXX XXXX XXXX XXXX NY XXXX XX/XX/22 Documents were received by mail, cover sheet stating that these documents are original documents XX/XX/22 Documents brought to closing, informed by management company that these documents are not orginals XX/XX/22 XXXX Called XXXX XXXXloancare XXXX XXXXXXXX ) XXXX to inquire about why copies were sent when originals were requested, informed that I needed to request documents via an e-mail XXXX. Asked why I was not provided this information on my orginal request on XX/XX/22, no explanation. Also asked for a UCCXXXX3 termination, informed that that needed to be requested by my attorney, no explanation as to how to request this form. Inquired about a direct number to reach the document center, informed there is no direct line, only an e-mail address. XXXX closing was post-poned due to not having original documents and no UCCXXXX XXXX I called XXXX XXXXloan care again XXXX XXXX ) XXXX to request an affidavit of lost lease and stock as I was told they did not have the originals. The representative spoke with " escalation '' team who stated they would get me this affidavit and the UCC-3 termination in 5-7 business days. Multiple e-mails sent to XXXX no response to request either the original documents OR an affidavit of lost lease/stock and the UCC3 termination. Letter sent by my attorney requesting these documents no later than XX/XX/22. XX/XX/22 XXXX I called XXXX XXXXloan care XXXXXXXX ( XXXX ) XXXX to clarify the documents that were being sent to me per discussion with representative yesterday evening. I was informed that original documents must be requested via e-mail and located by the lender, this can take up to 60 days. Explained that I spoke with someone on XX/XX/22 and was not advised of this e-mail or procedure, I was told original documents would be sent to me. I also asked why I was told I would receive the affidavit of lost lease/stock if they have the originals and no explanation was provided. I explained that I am now incurring fees for delay of closing, when if I was advised of the correct process on XX/XX/22 I would have scheduled my closing once the originals were received. As I was told I was being sent the originals I scheduled a closing once received and will be charged {$250.00}. I will now have to inform my buyer of an additional delay and may incur additional fees or lose the sale altogether. I was told I can not be transferred to a manager or supervisor directly and there is no direct number to the documents department. I was told a call back would occur in 24-48 hours from a manager or supervisor. I explained this is an unacceptable time frame. XXXX I received a call back from XXXX a supervisor, who put in an expedited request to locate the original documents and if the documents to send an affidavit of lost lease and stock, and the UCCXXXX termination. XX/XX/22 XXXX I called XXXX ( XXXX ) XXXX to follow up on the status of my request. Was told there is no way to directly speak with XXXX who was handling my request. I asked for an update and was told that they would resolve the request no later than end of business today. I was told the documents would be sent out once the my request was resolved. I clarified XXXX times that what would be sent to me were the original documents and not copies. I was told yes original documents will be sent. I clarified address documents needed to be sent to as they were preparing to send them to XXXX XXXX XXXX despite my address on file being XXXX XXXX XXXX. I asked for clarification as I had previously been told original documents can only be sent to an attorney. I also asked if this meant they had located the original documents. I did not receive clarification and as a result I asked to speak with a manager and was on hold for 14 minutes before the call disconnected. XXXX I called back XXXX ( XXXX ) XXXX and had to speak with someone different despite asking to speak with someone familiar with my case. I again requested to speak with a manager. I was told I can receive a call back today, I accepted this answer. XXXX I called again XXXX ( XXXX ) XXXX as I had not received a call from a manager. I asked to speak with the escalation team. I asked to speak with XXXX directly and was told this isnt possible. XXXX asked about when I will be informed if my original documents have been located and when they will be sent. I was told the request would be resolved by XX/XX/22. I asked for clarification about what this meant and if documents would be sent by this date. I clarified that I was told my attorney needed to file a UCCXXXX cancellation when that is actually the responsibility of the lender to file. I was told this would be sent with my original documents and resolved in the same request. I asked if my original documents were located. I was now told they have until XX/XX/22. I explained this doesnt align with what other representatives had stated regarding time frame. I was clear I can not go into another month paying my mortgage with a pending sale. I also verbalized concern about losing my sale due to delay and negligence in managing my documentation on the part of the lender. I did not receive a clear response regarding the time frame of my request. I was told I will receive an email by Thursday. I asked what this meant as I am requesting original documents, which can not be emailed to me. I was told that the escalation representative would call me on Thursday to see if I received email correspondence and I again reiterated an email is not an appropriate response to my request for original documents. representative stated she will call on XX/XX/22 to follow up. I am also unclear on the correct phone number as the servicer website states XXXX ( XXXX ) XXXX and the payoff statement states XXXX XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 11768
Submitted Via: Web
Date Sent: 2022-03-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-15
Issue: Trouble during payment process
Subissue:
Consumer Complaint: The name of the loan company is called Loan Care, and they are managed by XXXX XXXX XXXX XXXX XXXX. Their contact information is : XXXX XXXX de XXXX XXXX, XXXX XXXXXXXX XXXX XXXX FL XXXX XXXX Free : XXXX For over a year, attempted to update online accounts, mailing, address information and contact information. They are still receiving payments online, but their account is not accessible from where I am currently stationed, which is overseas on a XXXX XXXX in XXXX, XXXX. I even went through one of my parents back home to contact them on my behalf with a Power of Attorney, and still the problem was not resolved. I want access to view my loan statements, corrected mailing addresses and phone numbers. I plan to sell the property in 2 years, and understanding what I owe, including receiving documentation for tax purposes, is needed. I need to access my online account. Please assist in communicating to them. I only reached one number, and it was the refinancing number, which was XXXX. The person on the line did provide me my loan statement over the phone, but could not update my current phone or mailing information. He instead messaged the Loan Care customer service to send me an email. I'm still waiting on that email as of today, XXXX XX/XX/XXXX. Last correspondance was on XXXX XX/XX/XXXX to unlock my account, and another complaint sent on XX/XX/XXXX. Below was the original complaint to them : The tracking number assigned to your submission is XXXX. Please refer to this number when contacting us. For all updates, please email XXXX Please help, they are very problematic to work with. I'm ready to transfer this loan to another bank, it is that frustrating. How could they be so inaccessible??????? XXXX XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AE
Zip: XXXXX
Submitted Via: Web
Date Sent: 2022-03-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A