Date Received: 2022-03-14
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: I am dealing with a company called Loan Care LLC. Based out of Virginia. I decide to take advantage of the low-interest rates. Decided to re-finance, I requested the PMI be dropped during the re-fi process. Due to my home being way over the 20 % value required to not carry PMI. I was denied. ( XX/XX/XXXX via email ) Response from loan care loan processer XXXX XXXX ( XX/XX/XXXX ) : The only way to not have PMI is to refinance out of the FHA and into a conventional loan. As long as you are doing a new FHA loan, you will PMI again. Concerning the appraisal, I can approach management on that, but no guaranty that it will be reimbursed as we had no knowledge your home was manufactured home when it was ordered and because as I mentioned in prior emails, they dropped the rate on the new loan for you to match the prior file. The Rates on the FHA Streamline would have been over 4.0 % and Im sure they will do much more, but I will try I owed about XXXX k then my house appraised for XXXX k.. After Refinancing was finished XX/XX/XXXX. It didn't make sense that I had to pay PMI. So, I mailed in a request to drop PMI. My home had gone up in value current market value is {$250000.00}. Sent XX/XX/XXXX to Loan Care XXXX box XXXX Virginia XXXX, VA XXXX. Certified mail tracking number : XXXX XXXX XXXX XXXX XXXX. USPS.was received. I called a few days later to ask if they received my request in writing. They stated it had been uploaded into their system. This included the letter and the signed appraisal. They denied my request, when speaking to a rep. they said it was due to my loan being an FHA loan, they stated I had to pay PMI for the life of the loan. til XXXX payoff my loan. They also sent a letter stating they denied my request. I am now reaching out for your assistance. I have reached out to loan care XX/XX/XXXX and emailed them explaining why this complaint was sent as well as informing them of The Homeowners Protection Act of 1998 ( HPA ), 12 U.S.C. 4901. et seq., also known as the PMI Cancellation Act, was signed into law on XX/XX/XXXX, became effective on XX/XX/XXXX, and was amended on XX/XX/XXXX, to provide technical corrections and clarification. The HPA addresses homeowners difficulties in canceling private mortgage insurance ( PMI ) coverage. It establishes provisions for canceling and terminating PMI, sets disclosure and notification requirements, and requires the return of unearned premiums. 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: UT
Zip: 846XX
Submitted Via: Web
Date Sent: 2022-03-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-10
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I closed on my new construction home XX/XX/XXXX in XXXX, TX, located in XXXX XXXX. On XX/XX/XXXX, I submitted a letter from the XXXX XXXX Tax Assessor office as official certification that my property tax liability {$0.00} because I am a XXXX XXXX XXXX XXXX Veteran. The letter was signed by XXXX XXXX, Exemptions Clerk for the XXXX XXXX XXXX XXXX. On XX/XX/XXXX, I received a letter from LoanCare indicating they were made aware that I qualify for a tax exemption, and " if necessary, the account will be analyzed and adjustments made. I followed up with the company on XX/XX/XXXX, and the matter was still pending. I logged into my online account on or about XX/XX/XXXX, and the escrow amount had still not been modified. The agent I spoke with stated " they called to XXXX XXXX Appraisal District '' to verify the information and was told that " I only qualified for a partial exemption ''. On my second follow up call on XX/XX/XXXX, I was told LoanCare was not waiting on a bill from the Assessors Office. Again, I have submitted a certified letter from the XXXX XXXX Appraisal District office that states " the exemption will result in no taxes being assessed on this property in XXXX and subsequent years. I had no choice in picking this company, but there actions in this case are consistent with many of the XXXX cases I have read. I am concerned that they are intentionally and unlawfully withholding my escrow funds to use for other investments.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 760XX
Submitted Via: Web
Date Sent: 2022-03-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-09
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: Since XXXX of XXXX, I have been in the process of refinancing, with my credit union, my current mortgage. During this process of getting the title work completed, it was discovered that Loancare , LLC, who was the previous mortgage holder, assigned to XXXX XXXX XXXX XXXX, my current mortgage holder, by instrument recorded on XX/XX/XXXX. Said assignment was executed on behalf of Loancare LLC by XXXX XXXX XXXX XXXX as Attorney-in-Fact. Because the county in which we reside, XXXX XXXX in Maine, will not accept just a Power of Attorney, it must be a Discharge of Mortgage. I have attempted a solution through my title company since XXXX, XXXX ( 5 months at this date ). Loancare LLC is not cooperating with completing this Discharge of Mortgage, and thus the credit union can not close on my refinance. I would plead that this Bureau would intercede on my behalf to remedy this situation in some manner so that I can move forward. Thanks in advance for your help with this.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: ME
Zip: 042XX
Submitted Via: Web
Date Sent: 2022-03-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-09
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I already have a complaint in for LoanCare Services Mortgage company, but I need to put this complaint in because this company is just a nightmare to deal with. This mortgage company does not work with you or tell you things about your mortgage that you need to know. It also holds your mortgage hostage, what I mean by that is if you go into foreclosure or they want to start the process they send your mortgage to their lawyer and once that happens LoanCare Services no longer will give you information, even when the company says they are. Prime example, I had to sell my home because of the difficulties this company has provided to myself and my ex-husband, and so with selling on my home so I can pay off the mortgage LoanCare Services has on it I was not able nor was my realtor able to get a payoff of the current mortgage owed. Several request were place with LoanCare services to provide this information so they would be paid, but they refused to give it to myself, my ex-husband or the realtor. It was a circle with them, the company said we will give you the payoff we have to request it, days go by and nothing, but when you call them they don't tell you they aren't going to give you the payoff LoanCare Services just closes the request without telling the client and goes about their business. This was costing me the sale of my home, which I wouldn't of had to do if they would of helped me and honored that I didn't need my ex-husband to sign on the modification to help lower the mortgage. Also since not paying it, the escrow was never short, which was amazing to me that when I was paying it my escrow was always short..ALWAYS, but when LoanCare had to paXXXX my taxes on my behalf it was never short. AMAZING. With my mortgage being a federal government backing you would think LoanCare Services would be held accountable for their actions. This has cost me fees, time and mental anguish along with problems with my ex spouse and my children for loosing their childhood home because I couldn't fight this big Mortgage company or hire an attorney to fight for me. I contacted two lawyers and one was actually fighting LoanCare services for a client similar to my situation, with my ex-husband off the mortgage so I can do what needed to be done without involving him and that client also behind on mortgage payments fighting with LoanCare Services. There should be more ways for clients to help fight mortgage companies like LoanCare Services. Anyone that talks to me about this company I will tell them to contact Consumer Financial Protection because this company should be held accountable. All the pain that this company has caused my family should be addressed and compensated but because I am just a single mom it won't be address and I will be shooed away like a fly.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NJ
Zip: 080XX
Submitted Via: Web
Date Sent: 2022-03-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-09
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Hello, I am contacting you about my loan servicer and them not furnishing me with important documents. I received a call on Sunday, XX/XX/XXXX about making my mortgage payment. I got a letter on XX/XX/XXXX stating that I was approved for COVID-19 relief. In that letter, it states that documents were supposed to be sent to me within 15 days of reciept of letter. It is now XX/XX/XXXX and I have yet to receive said documents. During my call Sunday evening, I was told that I needed to pay to meet the conditions of my relief, but how do I know what to pay and terms to agree to? I feel that by paying, I am agreeing to the terms of a contract that I have never seen. How can that even be legal? I have dealt with Loancare long enough to know that I need to see everything in writing. Loancare is the reason I am in this mess. When I paid my first or 2nd mortgage payment, they told me that it was late because I paid it on the XXXX of the month. I was told last night that there is a 15 day grace period where I wouldn't be charged a late fee and my payment was denied because late fees were not included in my payment and they didn't take partial payments. You can see for yourself in XXXX. I have been going through this ever since. I was told to call back on Monday and ask for a supervisor, but I never got through to anyone. I haven't gotten through over the phone, so I've been sending emails. I haven't gotten any email responses either. I've had enough with Loancare and I would just like to have my documentation so I can resume my payments.
Company Response:
State: TN
Zip: 37167
Submitted Via: Web
Date Sent: 2022-03-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-08
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: I have been on forbearance since XX/XX/XXXX. In XXXX of XXXX I reached out as normal, to end forbearance. I was overly convinced to do a loan mod instead of my partial claim in XX/XX/XXXX. As thousands of other complaints about Loancare, their employees would say something different EVERY time I called. I was told I would be approved, then I was told I'd be denied. Never got sent the paperwork they said they sent from XX/XX/XXXX to XX/XX/XXXX. Finally contacted the XXXX 2nd week in XX/XX/XXXX, and told Loancare with the XXXX that I don't want the mod. I had the partial claim paperwork that was emailed to me during XXXX involvement that same week notarized and sent out XX/XX/XXXX and WELL WITHIN the 15 day window and before the end of XX/XX/XXXX, THAT partial claim paperwork that was notarized and XXXX XXXX XXXX back, it was sent via email to me from the supervisor, XXXX, from the bankruptcy dept. Now out of my 4 year window of discharge from bankruptcy, I want to refinance and cash out for a better life for my son 's and I. I was told it may be 30 days from XX/XX/XXXX. 2 months later I CONTINUE to get the run around on my Partial claim. It was received in XXXX PRIORITY MAIL and Now that paperwork was NEVER processed, NO ANSWER why. The partial claim was approved PER THEM on XX/XX/XXXX yet again, no correct or current paperwork to get notorized, and idk if I will receive the right paperwork, with MORE calculations and MORE waiting for months before I can refinance. It's them holding customers hostages and making them end up losing their homes. They told the XXXX they can't find wrong doing. It's all over the Internet what they are doing. They need to be shut down permanently. WHY ARE THEY NOT?? The man I talked to today, XXXX, said my mortgage payment was to be the figure that was to be mortgage payment under the modification!! I NEVER HAD THAT PAPERWORK NOTORIZED SO ITS FRAUDULENT. Completely FRAUDULENT. SO now, I'm filing a complaint here, the XXXX again if needed, HUD, XXXX XXXX XXXX XXXX XXXX and anyone else I can find until I get the correct partial claim paperwork and have them quit " SENDING WRONG PAPERWORK OR NOT PROCESSING THE PAPERWORK I SEND so they can prolong the stress they put us under before they try to foreclose.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: UNITED STATES MINOR OUTLYING ISLANDS
Zip: 38401
Submitted Via: Web
Date Sent: 2022-03-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-07
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My loan transferred to " Loan Care LLC '' from " XXXX XXXX XXXX '' in XX/XX/XXXX. When it transferred there company, they claimed I did not make my XXXX payment. My loan was still with " XXXX XXXX XXXX '' as of XX/XX/XXXX, and that payment was made. I had NEVER missed a payment. after my first phone call to resolve this, I was told to just wait and see if the funds would end up transferring from the previous loan company for XXXX payment. THIS COSTED ME A LATE FEE because I listened and waited. I have made about 20+ phone calls trying to figure out why this error occurred and to get it corrected, I was asked to send proof of payments and every time I sent in more documents for proof that I never missed any payments I was told the evidence is not sufficient and was turned away. the month of XX/XX/XXXX, that payment had a {$37.00} late fee charged because of this error ( because my account claimed I was a month behind on payments ) I then had to make a DOUBLE payment in order to make my account status not delinquent in XXXX. in XXXX the customer service rep that told me I should just wait for the missing payment to come through assured me I would not be charged any late fees and my account would not show delinquent status for this issue because it is on there end. I'm a young first time home buyer who trusted the company. I was told on one of my phone calls with the service dept. that I have un-applied funds in the amount of {$550.00} this was probably the missing payment that they could not find. I asked them why I had misc. funds not applied to anything that i NEVER authorized, and im being charged late fees because of a missing payment? they had no response. and came to realize during the loan transfer they messed up numerous transactions including giving me an incorrect escrow balance. In conclusion they verbally confessed they messed up transactions and still refused to corrected my account and balances. the problem may have occurred because i was almost a full month ahead on payments with " XXXX XXXX XXXX '' due to the ability to make bi-weekly payments with there company. so the next months payments were actually an entire month early. this is when covid hit i lost my job, i took the opportunity and placed my account on a forbearance plan before any more insanity could take place with this company. I had other focuses during covid so I am reaching out now that things have settled down. my hopes are now that they are correcting my account due to the forbearance place that the original mess ups can be corrected. in conclusion, i was charged in proper late fee, Record keeping is entirely incorrect, principal balance is incorrect. and I had to make a double payment, along with having my credit hit because of the claimed missed home payment. Attached are my proofs of payments, ALL documentation to prove I am paid up to date including taxes, My account is also showing in-accurate payment history, principal balance. Doc 1 : Contains tax information for XXXX showing my interest is paid through the month of XXXX, for XXXX. Doc 2 : Payment history from XXXX XXXX XXXX showing my 2-payments ( bi-weekly payment ) made in XXXX for the month of XXXX, showing my interest paid through XXXX. Dated documents : SIGNED AND STAMPED Bank statements showing the funds transferred from my account to XXXX and My loan care. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- - Below is a break down of the payments shown in the bank statements and for what month they correspond with -- PAYMENTS TO XXXX : XXXX Payment Made- XXXX TO XXXX -- AMOUNT : XXXX ( FULL ) XXXX Payment Made- XXXX TO XXXX -- AMOUNT : XXXX ( FULL ) XXXX Payment Made- XXXX TO XXXX -- AMOUNT : XXXX ( FULL ) XXXX Payment Made- 1st half : XXXX TO XXXX -- AMOUNT : XXXX ( BI-WEEKLY XXXX ) 2nd half : XXXX TO XXXX -- AMOUNT : XXXX ( BI-WEEKLY XXXX ) XXXX Payment Made- 1st half : XXXX TO XXXX XXXX- AMOUNT : XXXX ( BI-WEEKLY XXXX ) 2nd half : XXXX TO XXXX -- AMOUNT : XXXX ( BI-WEEKLY XXXX ) XXXX Payment Made- 1st half : XXXX TO XXXX -- AMOUNT : XXXX ( BI-WEEKLY XXXX ) 2nd half : XXXX TO XXXX -- AMOUNT : XXXX ( BI-WEEKLY XXXX ) PAYMENTS TO LOAN CARE : XXXX payment accrued inaccurate late fee I was still protected under law to not receive late fees during this time, it was paid out at a later point in time. XXXX : Payment Made- XXXX TO LOANCARE -- AMOUNT : XXXX ( FULL ) XXXX : Payment Made- XXXX TO LOANCARE -- AMOUNT : XXXX ( FULL ) XXXX : Payment was made XX/XX/XXXX {$800.00} ( with added late fee ) XXXX : payment was made XX/XX/XXXX in the amount of {$800.00} ( with the added late fee ) to make up for the claimed missed payment, I made a second XXXX payment. I made a partial payment XX/XX/XXXX in the amount of {$200.00} to complete a payment using the un-applied {$550.00} that I spoke of above that they had sitting in a misc. account. this brought my account current Doc 1 : Screen Shot of my XXXX loan account information from the month of XXXX right before my loan transferred. Doc 2 : Payment history from XXXX XXXX XXXX showing my 2-payments ( bi-weekly payment ) made in XXXX for the month of XXXX, showing my interest paid through XXXX. I filed a report with the XXXX and they claim to have corrected the issues. this is untrue, the late fees I accrued were higher than they claim, my account still reflects incorrect balances. If required I have all bank statements showing fund transfers. THE COMPANY WAS SENT ALL THIS AND STILL SAID I WAS WRONG
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 48507
Submitted Via: Web
Date Sent: 2022-03-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-06
Issue: Trouble during payment process
Subissue:
Consumer Complaint: This is a 2nd complaint because I just read the letter Loancare responded. The information was incorrect regarding the property taxes. The Loancare made a double payment as stated in the previous email and compliant due to an error by the company. We just purchased the home XX/XX/2021. The previous owners were in arrears in their property taxes, NOT US, the county applied the wrong amount to the wrong account. We did not find out about it until we got the taxes in XX/XX/2021. I've called and explained this to the company. I've tried to resolve this issue with the county. I've tried to resolve it with the closing attorney. The mortgage company received all but {$800.00} that I'm still trying to recover from the previous homeowner and closing attorney. They made an analysis on the mortgage prior to receiving the refund of {$5100.00} from the county. My mortgage should not have ever been {$3400.00} it was made in error. My XXXX mortgage should not be {$3400.00}. I am seeking for help and we are not getting it. The information is based off of inaccurate information. I am pleading for help. This issue should not be closed.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30252
Submitted Via: Web
Date Sent: 2022-03-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-06
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My mortgage company XXXX Loancare required that I have mortgage insurance until my home was at 80 % loan to value. I live in XXXX, CO where home values have gone up considerably over the past year. In XXXX of 2021, I contacted XXXX Loancare and requested my mortgage insurance be cancelled. I was sent a denial letter on XX/XX/XXXX stating my home was by them at 85 % loan to value. There was no disclosure as to how they arrived at that number. Prior to the denial letter, in early XX/XX/2021, I submitted a comparable home sales report from a Broker named XXXX XXXX with XXXX that showed my home was valued at {$520000.00}. My mortgage balance was XXXX so I only needed the home to be valued at {$460000.00} to have the PMI dropped. In the denial letter they stated that I needed to pay them {$150.00} so they could hire their own Broker to assess the property value. They have access to home sales through their own software and the county assessor why did they need a 3rd party? In XX/XX/2021, having made several calls to the company and receiving three more denial letters, I paid the {$150.00} fee and a broker they hired came out. They recommended the removal of the PMI and provided comparable home sales in the area that far exceeded the value my home had been assessed. This indicated to me that the insurance coverage placed on my home had been unnecessary for at least six months. I have requested and demanded a refund of the unearned premium of {$220.00} per month for the past 6 months from XX/XX/2021 to XX/XX/2021 and the {$150.00} fee should be refunded as well totalling {$1400.00}. I have already made this request with their representative XXXX XXXX and have received no response. My loan number is XXXX Her email is XXXX I might add that when making the request to have my home value reviewed, even XXXX Loancare 's website provided an assessed value above {$500000.00} for my home so clearly they had the ability to see the value of my home and yet continued to charge me premiums for an insurance that's only priority is to guard against the losses of the mortgage company.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CO
Zip: 80232
Submitted Via: Web
Date Sent: 2022-03-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-05
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Company : XXXX XXXX XXXX ( LoanCare ) I called XXXX XXXX XXXX ( LoanCare ) in early XXXX, XXXX to request that no hazard insurance payment be sent to our insurance provider because I was evaluating hazard insurance offers and may change carriers. Despite this call, a payment in the amount of {$690.00} was sent to XXXX XXXX XXXX ( XXXX ) on XX/XX/XXXX. I had already changed our hazard insurance to XXXX by that time. Since then, I have called numerous times to track this payment in order to get the {$690.00} refunded to our escrow account. I have been told a variety of things by XXXX Customer Service and Insurance departments, including three-way calls with XXXX. Things Ive been told include the following : - The payment was sent as part of a bulk check so the check could not be canceled. - The payment had not yet been received by XXXX. - The payment had been received by XXXX, and it in fact was a bulk check. There were other problems with this bulk payment and it was being returned to XXXX. - The payment had been made and signed for by someone at XXXX, but XXXX had no record of it. I have also been told every time I call that a supervisor or someone who is researching the issue will call me within 24-48 hours with additional information on how to resolve this. I have never received a call on any of these occasions. I sent a written letter to XXXX on XX/XX/XXXX. I received a letter back from them stating that they received it XX/XX/XXXX and were reviewing. I dont know whats true at this point, but I do know that the money is not in my escrow account.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CO
Zip: 80220
Submitted Via: Web
Date Sent: 2022-03-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A