Date Received: 2021-12-14
Issue: Trouble during payment process
Subissue:
Consumer Complaint: In XX/XX/XXXX, I refinance my mortgage with XXXX XXXX XXXX XXXX. My previous mortgage company sent the balance of my escrow account to XXXX to depossit into my account. The check was cashed in XX/XX/XXXX by XXXX but never applied to my account. My monthly mortgage payment were {$1200.00} and they increased them to {$1500.00} due to the low balance in my escrow account. I contacted the Loancare and informed them of the error of my mortgage payment and my escrow accoutn. Informing them that a check in the amount of {$2600.00} was sent to XXXX. XXXX uses Loancare as a subservice. Loancare is the one who has been sending me notices regarding my mortgage and escrow accounts. I contacted Loancare from XX/XX/XXXX to current, XX/XX/XXXX. I have supplied them with a copy of the cashed check and the fraud investigation from the bank stating that the check was cashed by the intend payee. Through all of this I continued to pay my monthly mortgage payment of {$1200.00}. I refused to pay the {$1500.00}, for one reason due to my personal budgeting I couldn't afford an additional {$300.00} to come out of my budget due to an error on the company filing system. I provided over and over all the information needed to the company to recify this situation in a timely manner. The information was sent via email to the Escalation Team, Loss Resolution, and to customer service supervisor XXXX XXXX. They continued not to resolve the issue and would not truly look into the matter. They continue to state that my account was delinquent because I did not pay the increase amount of {$1500.00} even though I paying the {$1200.00} monthly on time. They reported delinquent payments to the credit bureaus even when they informed me that nothing will be reported until this problem was resolved. On XX/XX/XXXX XXXX from Loancare Escalation Team informed me that the problem could be that the check was sent to XXXX and that there was nothing they could do that I needed to contact XXXX to locate the check. I contacted XXXX on XX/XX/XXXX and sent the information to them. They acknowledged that the check went to the correct place but they didn't know where the check was currently. I had to complete another compliant form for XXXX to look into this matter. XXXX emailed me stating that they will contact Loancare. On XX/XX/XXXX, I contacted Loancare to see if XXXX had contacted them on this matter and representative XXXX mentioned that there was no notes on my file stating that XXXX had contacted them. XXXX transferred me to XXXX in the Escalation Department. I explained my situation to XXXX and informed her that I want them to stop reporting negative payments on my credit report and that XXXX will be contacting them about my escrow check. XXXX put me on hold to review my account. After sitting on hold for 45 minutes, she picked up and hung up the phone. On XX/XX/XXXX, I contacted XXXX and spoke with XXXX and she didn't have any updates on my claim. She transferred me to XXXX. XXXX mentioned that she forward the case to Loancare to investigate and Loancare bounced it back to XXXX to investigate. She mentioned that XXXX will look into it and get back to me later this week. She also mentioned that she was sorry that there has been a lot of checks just sitting at XXXX and not applied to anyone account. This missing check has made my escrow account to reflect not the required balance for the month of XXXX. This situation has affected my mental health and has caused extreme stress and XXXX. Loancare has not been willing to assist in this matter increase weekly anxiety and stress because I am afraid of my home going into foreclosure. Loancare has not looked into this matter even though I have sent in a lot of documentation and proof that a check was sent to be applied to my account. No help has been given on this matter. Only thing they have done is affected my credit by reporting negative/late payments when I have been making monthly payments.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: IL
Zip: 604XX
Submitted Via: Web
Date Sent: 2022-01-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-14
Issue: Improper use of your report
Subissue: Credit inquiries on your report that you don't recognize
Consumer Complaint: On XX/XX/2020 and then again on XX/XX/2020 XXXXXXXX XXXX XXXXXXXX made hard inquiries on my credit. I don't know who they are but no one has been authorized to pull my credit multiple times. It's possible one hard inquiry was authorized when I was shopping for a new rental property however no one should be accessing my credit multiple times.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 76182
Submitted Via: Web
Date Sent: 2022-02-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-12
Issue: Incorrect information on your report
Subissue: Information belongs to someone else
Consumer Complaint: I disputed the account because I noticed it was on my credit report and I did not authorize this account. To dispute this account, I mailed a dispute letter, a copy of my FTC report for identity theft, a copy of my police report for fraud/impersonation/identity theft, 3 forms of personal identification ( copies of my driver 's license, my social security card, and one of my recent bank statements from the past 3 months ) along with a copy of the page of my credit report ( s ) on which the account was listed, in an envelope sent to the creditor of the account and I also put copies of the same documents in envelopes sent to all three credit bureaus ( XXXX, XXXX, and XXXX XXXX via USPS certified mail with return receipt, this was more than 60 days ago. The creditor and the credit bureaus have not mailed me a notarized contract with my signature on it within their 30-day allotted timeframe allowed by the FCRA ( Fair Credit Reporting Act ) to validate the account, and thus the account must be immediately deemed invalid, fraudulent, and not my liability, and it is hereby illegal for the credit bureaus and creditors to report this account on my credit report because the account was not validated within the required 30-day timeframe, and so the solution to my complaint is for the credit bureaus and for the creditor to immediately delete this account from my credit report. If the creditors and credit bureaus do not do this, I have the power and the evidence to sue them and win {$10000.00} due to the illegal credit reporting acts that they have committed which continue to harm my credit worthiness and access to financial wealth-building opportunities such as loans for real estate purchases. The account was also deleted from my XXXX and XXXX reports as well so in order to correct the inconsistencies between the XXXX, XXXX, and XXXX credit reports, the account needs to be deleted from the XXXX credit report. The information for this account listed on my credit report is : CREDITOR : LOANCARE SERVICING C, ACCOUNT XXXX, OPENED XX/XX/2017, BALANCE OF {$0.00} CREDITOR : XXXX XXXX, ACCOUNT XXXX, OPENED XX/XX/2017, BALANCE OF {$0.00}
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MA
Zip: 023XX
Submitted Via: Web
Date Sent: 2021-12-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-11
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I came off of forbearance in XXXX of XXXX due to my industry being shut down due to XXXX. I had began the process of submitting an application for a loan modification to Loancare LLC. I was also assigned a single point of contact that did not actually exist. Every time I called I spoke to someone different, and was given different, incorrect or insufficient information every time. After 9 months of going back and forth, Loancare finally accepted my application and has considered it complete. They sent me my trial payment period plan offer. I have until XX/XX/XXXX to accept their offer. This is also when my first payment of the trial offer is due. At the same time they sent me the offer, I got approved for a grant for mortgage assistance for almost the exact amount I am behind on. When the company reached out to Loancare to retrieve my file- Loancare told them that they can not accept my assistance because I am already entered into a modification. I have not agreed to or signed anything or made my first XXXX payment! They have dragged out my loan modification application process for an extra 9 months, without allowing me to make payments, putting me further delinquent. I took extra steps to get approved for mortgage assistance and they will not accept it. They told me numerous times to send in the same documents over and over again while submitting my application. Many times I had to start all over again, due to them stating it was incomplete, even though I had proof of the email with the documentation. They would mark my application as incomplete without notifying me if other documents needed. They are purposefully making it difficult for customers coming off forbearance. They are trying to set people up for failure and take peoples homes since the equity in all homes is sky rocketing right now. I am sick to my stomach from their tactics. I am so worried that by the time I can get someone to help me, my opportunity to have receive the assistance will be gone, since it is a first come first serve basis, and Loancare will get what they want, and force me into agreeing to the modification.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 48092
Submitted Via: Web
Date Sent: 2021-12-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-10
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: I sold this house in XXXX of 2019. We closed with XXXX XXXX in XXXX, Arkansas. LoanCare is still reporting this mortgage.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AR
Zip: 72401
Submitted Via: Web
Date Sent: 2021-12-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-10
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: Loan was sold in the middle of a Covid forbearance and new servicer reported loan as over 120 days delinquent. No payments were ever missed, current going into forebearance.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 34997
Submitted Via: Web
Date Sent: 2022-01-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-09
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: We have 2 loans w/ Loan CarXXXX XXXX. We were in a Forbearance plan for both, however we continued to make regular payments during the forbearance period. Loan Care misapplied or didnt properly credit our payments to the loans. Because were afraid of losing one home, & being forced to take a 40 year loan on another, that we only owe {$27000.00} on, were forced to find loans in order to borrow to payoff the loans. Loan Care wrote us saying we were in default on one, even though we followed their Modification terms properly & they are forcing us to refi for a unreasonable amount of time, 40 years on the other. We have asked for payoff letter verbally, multiple times & went to myloancare.com & requested a payoff. It took us over several weeks, after multiple requests to finally get one & the interest charged on the payoff letter is drastically Overstated. Theyre trying to charge us interest for a Full Year, instead of a month/fraction of a month. This interest Overcharge is added to our payoff statement & we believe that our Principal is overstated, because our payments were not applied Properly.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: IL
Zip: 604XX
Submitted Via: Web
Date Sent: 2021-12-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-09
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: For four months I have tried to resolve the issue of my XXXX loan modification with LoanCare , LLC. LoanCare rep stated it was mailed in XXXX, however we never received it. I've made numerous phone calls asking to have this paperwork resent and/or emailed with negative results. I reached out to the XXXX for help in this matter, with NO assistance. On Tuesday, XXXX XXXX, XXXX I was finally able to get a rep to email the paperwork. We got it notarized on XXXX XXXX and overnighted on XXXX XXXX. I called on XXXX XXXX to make a payment and they refused. My spouse and I have lived at this property for over XXXX years, and are now starting to feel this company is trying cause us to lose our home!!! You can NOT get through and speak to anyone within a reasonable time. You cant speak with the same individual. This is an absolutely horrible company that is NOT bound BY any ethical principles.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: SC
Zip: 29745
Submitted Via: Web
Date Sent: 2021-12-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-09
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: Hello, I am trying to refinance my property and this is what i found out once i was going through the process. I have my current loan with Loancare, last year 2020 my mortgage was in forbearence for the total of 1 year. And when we resumed the payments after the year we were told that the amount will be deffered and put towards or loan and thats it. Nothing else complicated and we chose that option. But now i am finding out that they have put a lien towards my property and it not recorded as deffered and how they explained. On the top of that that have recorded it double the amount. No one in Loan care can explain. I really need to refinance but this is killing me with no explanation.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: VA
Zip: 20136
Submitted Via: Web
Date Sent: 2021-12-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-09
Issue: Trouble during payment process
Subissue:
Consumer Complaint: The company discussed here is LoanCare , LLC on behalf of XXXXXXXX XXXX XXXX ( XXXX XXXX XXXX, XXXX XXXX, VA XXXX ). Background : In XXXX 2021, my current loan servicer ( XXXX XXXX ) sent a statement to me saying that a new company ( LoanCare , LLC ) would be taking over my loan servicing. About a week later I received a mailing from LoanCare with information about this loan servicing change. Issue : There was a long delay ( approximately 10 days ) between the time my loan became unavailable with XXXX, and available with LoanCare , LLC. For about 10 days, my loan status and information went " dark '' and I couldn't access my loan from either party. LoanCare was not available to contact by phone, because the customer service line required my loan number or SSN, but when both were entered, my account could not be found, because my loan had not been transferred yet. By the time they did recognize my account ( XX/XX/XXXX ), the payment date for my mortgage was past due. Additionally, auto-draft of loan payments must be created before XX/XX/XXXX, leaving just 1 day to do so. Fortunately, I've been ahead of schedule and my payments were not late. Also, fortunately, I'm a " digital native '' and so navigating confusing and unclear online platforms is something I am accustomed to. I was ultimately, after much persistence and trial and error, able to figure it out and log in. The real concern I am addressing is for people who were not in my position : paying their mortgages closer to the due date, and for people who may be older and/or may not be as " digitally native '' as I am. For someone ( like my grandma, or my elderly neighbors ) who does not know how to navigate confusing online platforms, they could still be in a situation today where they can not access their mortgage information, and may be at risk for failing to pay their mortgage on time. Calling does not help because the automated phone system does not recognize the new loan until you sign up online. Given the interruption in auto-payment and the payment schedule, this could be a serious issue for many people as they manage their budgets, and the withdraw of their mortgage payments could be untimely and disruptive to their lives. Given that the change in loan servicing company was not optional and was mandated by both XXXX and LoanCare , LLC, it seems reasonable that they would make this process more transparent, and give more options for their customers to ask questions about how the transfer works and the timelines surrounding this change. Altogether, allowing someone's home loan status and information go " dark '' for multiple weeks, as well as failing to provide adequate options to contact someone about the status of this loan seems unacceptable. It also seems as though this process is unduly abstruse in order to confuse the customer and create late payments and/or other fees.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 14580
Submitted Via: Web
Date Sent: 2022-01-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A