Date Received: 2021-09-03
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: We owe a balance on our mortgage of less than {$89000.00}. We have been paying on it for almost 22 years. We are working on a loan modification with Loancare , LLC. They sent us correspondence offering a loan deferment if we had any financial hardship due to the current times. We accepted that and haven't made a payment for approximately 9 months. On XX/XX/XXXX, Loancare sent paperwork that stated " an opportunity to enter into a loan modification trial period plan. '' It showed an incorrect amortization that they had calculated. On XX/XX/XXXX, I called and spoke with XXXX, a team leader who gave me the id XXXX. He stated that he would send an email with the loan modification explanation of the amortization. We never received an email. On XX/XX/XXXX, Loancare called, and I spoke with XXXX and told him I was waiting for an email. He said it was sent on XX/XX/XXXX. He suggested to visit the website and click on COVID19 assistance. I double checked and still no email. I asked to speak with XXXX. XXXX stated he can not put me through to XXXX. I asked to speak with another team leader. XXXX stated that only place he can transfer is to loss mitigation. I was transferred and spoke with XXXX. She said that XXXX can't send an email, because there isn't one. She said to send in a year-to-date paystub and tell them we are not okay with the 480 months of payment. She transferred me to XXXX. XXXX stated she would have someone in underwriting call us. We were on the phone for over two hours at this point. On XX/XX/XXXX, Loancare called ; I didn't answer quick enough, so I called right back. I spoke with XXXX who stated that it was logged that they called and that I hung up. She put in a request for whoever called me to call me back. I stated that we are still waiting for the underwriter to call. On XX/XX/XXXX, we spoke with XXXX and explained again that there was not accurate amortization for the term length of 40 years. He transferred us to a supervisor line and we waited on hold for 45 minutes until it sent us to a voicemail. We left a message explaining what had happened and requesting to have a supervisor call us back. We would like to file a complaint against Loancare , LLC stating that they are not following the truth in lending act by not spelling out the terms of an amortized loan showing principal and interest details for a modification. We have followed their process exactly, and they have not returned our phone calls from their underwriting department to help answer. We owe less than {$89000.00} and have an interest proposed of 5.5 % at 480 months. They are proposing the new payment be {$790.00} per month at the same interest rate of 5.5 % which would be them doubling our principal. We have asked how this is possible, and they will not provide the term detail that is producing this high of a workout payment.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-09-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-09-02
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I have an FHA primary mortgage with LoanCare. The loan servicing company is XXXX XXXX XXXX. On or about XX/XX/XXXX, I received an alert from XXXX XXXX informing me that LoanCare put adverse information on my credit report due to an unpaid {$750.00} fee. I communicate with LoanCare staff on a regular and recurring basis and was not informed of this fee. When I called LoanCare representatives, they stated that my mortgage loan is current and there are no fees due. My online account with LoanCare did not reflect the {$750.00} fee. However, it did reflect a {$15.00} fee for the month of XX/XX/XXXX which I paid promptly along with my mortgage on or about XX/XX/XXXX. On XX/XX/XXXX, I left a message on LoanCares customer website and requested that a manager contact me so that I could determine whether there was a {$750.00} fee and the reason for the fee. On XX/XX/XXXX, I spoke with XXXX ( Employee ID # XXXX ), a manager with LoanCares Customer Service Department, and she informed me that the {$750.00} fee was an attorney fee that LoanCare charged that is related to my Chapter XXXX bankruptcy case that I filed in DC Bankruptcy Court on XX/XX/XXXX ( Case Number XXXX ). XXXX XXXX, Bankruptcy Attorney, represented me in Case Number XXXX. In XX/XX/XXXX, Mr. XXXX voluntarily dismissed my case at my request. On XX/XX/XXXX, I sent an E-Mail message to XXXX XXXX inquiring about LoanCares fee in the amount of {$750.00} and he replied to my E-Mail message on XX/XX/XXXX stating that he was never informed of this fee by LoanCares legal representative. My mortgage loan was modified to lower my monthly payment and interest rate effective on XX/XX/XXXX. The trial payments and processing of my loan modification application began in XX/XX/XXXX and ended in XX/XX/XXXX. In XX/XX/XXXX, I was informed by LoanCare customer service representatives that if there were any fees outstanding that they would be removed during the loan modification process.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: DC
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-09-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-09-01
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Their investigation did not fix an error on your report
Consumer Complaint: All 3 credit bureaus are reporting late payments on an old mortgage account. I was never late. I have submitted multiple disputes to all 3 credit bureaus. Loancare mortgage closed my account on XX/XX/XXXX. XXXX is reporting late payments on XX/XX/XXXX and XX/XX/XXXX. That is impossible. XXXX and XXXX are also reporting false late payments. When disputing with all 3 bureaus, the results come back as verified. When contacting Loancare they said the account was closed so they could not verify the late payments. These payments should be deleted off of all 3 credit reports because these late payments can not be verified.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: PA
Zip: 19082
Submitted Via: Web
Date Sent: 2021-09-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-09-01
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Loan owned by XXXX was sold to LoanCare in XX/XX/XXXX. Payments were made to LoanCare in XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX. In XX/XX/XXXX I was notified that I was behind in my mortgage payments. It was discovered that the payments were submitted to LoanCare with an incorrect account number provided to me by XXXX. I provided bank statements showing payments made to LoanCare, the amount and the account number submitted. LoanCare opened a research ticket to try to locate the payments. That ticket was closed and in XX/XX/XXXX I was notified again of my mortgage being in default and was approached with a loan modification. I called LoanCare in XX/XX/XXXX and explained the situation again to the representative and again emailed the bank statements showing payment. Representative stated she could do nothing about this and had to escalate to a supervisor. I continued to follow up with LoanCare monthly requesting status of the payments and each time a representative stated they didnt know what was going on and a research ticket would need to be opened. The most recent research ticket # with LoanCare is XXXX. I continue to request an update on this ticket, and I continue to get a response stating, Please allow more time for your request to be completed as it has been forwarded to the appropriate department for research and review. Now my loan has been sold again to XXXX XXXX. I made my fist payment to XXXX XXXX and notified them of the situation as I am now showing in default with XXXX XXXX. I have provided bank statements to XXXX XXXX as well showing the payments made to LoanCare in XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: IL
Zip: 60586
Submitted Via: Web
Date Sent: 2021-09-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-31
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Loancare has been reporting late or missing payments since they took over loan servicing from XXXX. After our first complaint to the CFBP, loancare finally sent us a letter stating they misappropriated our first payment and that all late fees are waved, ( see attached ) To date loancare has not cleared our credit report, or even called us back, we can not get ahold of anyone at the number provided .... XXXX XXXX XXXX ext XXXX In addition, the late fees are showing up on our bills along with incorrect monthly Bill amount. It has been brought to our attention that loancare was in litigation and lost for this same type of situation in 2020! We expect our report be cleared of all late payments and correct billing going forward. We will seek legal assistance if this is not taken care of in a timely manner.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: WI
Zip: 530XX
Submitted Via: Web
Date Sent: 2021-08-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-29
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: There is a 30 day delinquency report on my credit and when I look at my account online, the information is incorrect.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NM
Zip: 87108
Submitted Via: Web
Date Sent: 2021-08-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-27
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: We applied for COVID CARES Act Forbearance in XX/XX/XXXX and it was approved. We applied to have it extended several times and they were all approved. In XX/XX/XXXX we were ready to begin repayment. We requested information via phone for repayment options and were told we could do loan modification where we could get a lower interest rate without paying closing costs. The rep who told us this had our loan pulled up and could see all details. We requested this option. The offer came in the mail and it was the same high interest rate, with a monthly payment higher than we were paying before. We called and were told on the phone that we weren't eligible for a lower interest rate because it was a conventional loan and only FHA loans were eligible. We were told we could do deferment instead, so we asked to reject the loan modification and requested deferment. We were told to wait 7-14 business days for the paperwork to sign. 21 days later we received a letter saying our mortgage was being transferred to a new servicer. We never received the deferment paperwork so at this time our mortgage forbearance had ended and we had no repayment plan, with a pending transfer to a new servicer. We called many times and spoke with many levels of support requesting information about why the deferment request was not processed, why the mortgage was being transferred without any forbearance or repayment plan, and every level of support told us different things. One said the deferment couldn't be processed. The next said it was already in progress and would show up with the new servicer. The next said we still had to sign something to officially accept the deferment, but that it wasn't sent and would not be sent because of the transfer. The next said they could email it to me and we could fax it back. At every step of the way I begged for something in writing showing that we had followed every step correctly and that this delay was their fault, to protect us from anything bad happening when the transfer happens. Every single level of support from tier one to upper level management said there was nothing they could give me in writing. We are now a few days away from the transfer and praying that we don't end up delinquent facing foreclosure. We do not have the funds to pay in full like they are asking. We have the ability to make monthly payments but we are not being given the opportunity to do so. We just want to bring our loan current on a repayment plan, pay for 3 months, and refinance to a lower interest rate. If this servicer 's actions have caused us to no longer be eligible for refinance, we will have very high very tangible financial loss.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: PA
Zip: 19125
Submitted Via: Web
Date Sent: 2021-08-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-27
Issue: Trouble during payment process
Subissue:
Consumer Complaint: LoanCare LLC has been my mortgage servicer for the last several years, through my loan being sold. When we were looking to refinance our home mortgage, we knew we didn't want to consider LoanCare due to several issues that have occurred while they've been the servicer. We refinanced with another company, and our loan was paid off XX/XX/XXXX. I've been trying to contact LoanCare LLC re : the return of my {$5400.00} escrow account that they still have. I sent several emails through their " Send Us A Message '' link on their website, but haven't received a response. I have tried calling several customer service numbers, and once I enter my { now paid off } loan number, I get a recording re : XXXX XXXX information with no options. I can't speak to a person or go anywhere else in their voice mail system. Finally, some how, I pressed enough random buttons that I got to a person. I asked her about my escrow balance, and she told me that they hold it for at least 20 days. I asked her why, and she said, " that's the process '' then HUNG UP ON ME. What I want : the ability to get some sort of response notifying me of the status and reconciliation of my escrow balance and my loan balance. It is RIDICULOUS that this company will not respond to emails and won't give me access to a customer service rep through their normal voicemail options by phone. While my loan is paid off ( thank goodness ), they still have my money and I'm still a customer.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 76001
Submitted Via: Web
Date Sent: 2021-08-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-27
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: I have been approved for the forbearance under care act due to the impacted of covid 19 financial hardship, the approval is for the length from XX/XX/XXXX to XX/XX/XXXX, and I made payment for the month of XXXX and XX/XX/XXXX, However I have reviewed my credit report and noticed that Loancare has reported to credit bureau that I was late for more than 90 days for the months that I was approved for the forbearance and 30 days late for the month of XXXX and XXXX, I have filed a dispute However Loancare has not made any correction, this error has cost my credit score decrease so many points, please help since I can not contact Loancare.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 90680
Submitted Via: Web
Date Sent: 2021-08-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-26
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: To Whom It May Concern : I am communicating with you directly as requested regarding concerns/ issues with my credit report. This letter represents my formal request to again dispute the aforementioned accounts as well as inquiries which are illegally being reported on my account. It was communicated to me to reach out to each individual agency to expedite the removal. As of the date of this letter, it has been over thirty days with no compliance to the Fair Credit Reporting Act ( FCRA 15 U.S.C. 1681 ) enacted by the United States Congress. By their findings, it is now my legal right to have these accounts and inquiries ( FCRA 15 U.S.C. 1681n ) removed. I understand the individual in receipt of this letter is most likely not an attorney. Therefore, I have attached the laws and definitions to educate any person of my legal rights in the United States of America. I appreciate you understanding how this adversely affects me and is in violation of my rights. Thank you for helping me take this federal matter seriously! Regards XXXX XXXX Accounts Requiring Immediate Updating : LOANCARE LLC with account # XXXX for an account that has already been PAID but is reporting inaccurately on XXXX and XXXX with Late Payments. It is reporting correctly on XXXX as CLOSED AND PAID with NO LATE PAYMENTS. Unapproved Inquiries Please be aware the following inquiries are plaguing my report. I have communicated with the agencies whom I believe to be responsible for this violation. I have not received any correspondence for the following accounts below. Please remove these adverse inquiries immediately. US SM BUS ADMIN ODA XX/XX/XXXX ; XXXX XX/XX/XXXX ; XXXX XXXX XX/XX/XXXX ; XXXX XX/XX/XXXX ; XXXX XXXX XX/XX/XXXX ; XXXX XXXX XXXX XXXX XX/XX/XXXX ; XXXX XXXX/XXXX XXXX XX/XX/XXXX ; XXXX XX/XX/XXXX ; XXXX XXXX XX/XX/XXXX ; XXXX XX/XX/XXXX ; XXXX XXXX XXXX XX/XX/XXXX ; XXXX/XXXX XXXX XX/XX/XXXX ; XXXX XX/XX/XXXX ; XXXX XXXX XXXX XXXX/XXXX/XXXX ; XXXX XX/XX/XXXX ; XXXX XXXX XXXX XX/XX/XXXX ; XXXX XXXX XX/XX/XXXX ; XXXX XX/XX/XXXX ; XXXX XXXX XX/XX/XXXX ; XXXX XXXX XXXX XXXX XX/XX/XXXX 15 U.S. Code 1681 - Congressional findings and statement of purpose ( a ) Accuracy and fairness of credit reporting The Congress makes the following findings : ( 1 ) The banking system is dependent upon fair and accurate credit reporting. Inaccurate credit reports directly impair the efficiency of the banking system, and unfair credit reporting methods undermine the public confidence which is essential to the continued functioning of the banking system. ( 2 ) An elaborate mechanism has been developed for investigating and evaluating the credit worthiness, credit standing, credit capacity, character, and general reputation of consumers. ( 3 ) Consumer reporting agencies have assumed a vital role in assembling and evaluating consumer credit and other information on consumers. ( 4 ) There is a need to insure that consumer reporting agencies exercise their grave responsibilities with fairness, impartiality, and a respect for the consumers right to privacy. ( b ) Reasonable procedures It is the purpose of this subchapter to require that consumer reporting agencies adopt reasonable procedures for meeting the needs of commerce for consumer credit, personnel, insurance, and other information in a TYPE OF ISSUE Information belongs to someone else manner which is fair and equitable to the consumer, with regard to the confidentiality, accuracy, relevancy, and proper utilization of such information in accordance with the requirements of this subchapter. 15 U.S. Code 1681a - Definitions ; rules of construction ( a ) Definitions and rules of construction set forth in this section are applicable for the purposes of this subchapter. ( b ) The term person means any individual, partnership, corporation, trust, estate, cooperative, association, government or governmental subdivision or agency, or other entity. ( c ) The term consumer means an individual. ( d ) Consumer Report. ( 1 ) In general.The term consumer report means any written, oral, or other communication of any information by a consumer reporting agency bearing on a consumers credit worthiness, credit standing, credit capacity, character, general reputation, personal characteristics, or mode of living which is used or expected to be used or collected in whole or in part for the purpose of serving as a factor in establishing the consumers eligibility for ( A ) credit or insurance to be used primarily for personal, family, or household purposes ; ( B ) employment purposes ; or ( C ) any other purpose authorized under section 1681b of this title. ( 2 ) Exclusions.Except as provided in paragraph ( 3 ), the term consumer report does not include ( A ) subject to section 1681s3 of this title, any ( i ) report containing information solely as to transactions or experiences between the consumer and the person making the report ; ( ii ) communication of that information among persons related by common ownership or affiliated by corporate control ; or ( iii ) communication of other information among persons related by common ownership or affiliated by corporate control, if it is clearly and conspicuously disclosed to the consumer that the information may be communicated among such persons and the consumer is given the opportunity, before the time that the information is initially communicated, to direct that such information not be communicated among such persons ; ( B ) any authorization or approval of a specific extension of credit directly or indirectly by the issuer of a credit card or similar device ; ( C ) any report in which a person who has been requested by a third party to make a specific extension of credit directly or indirectly to a consumer conveys his or her decision with respect to such request, if the third party advises the consumer of the name and address of the person to whom the request was made, and such person makes the disclosures to the consumer required under section 1681m of this title ; or ( D ) a communication described in subsection ( o ) or ( x ). [ 1 ] ( 3 ) Restriction on sharing of medical information.Except for information or any communication of information disclosed as provided in section 1681b ( g ) ( 3 ) of this title, the exclusions in paragraph ( 2 ) shall not apply with respect to information disclosed to any person related by common ownership or affiliated by corporate control, if the information is ( A ) medical information ; ( B ) an individualized list or description based on the payment transactions of the consumer for medical products or services ; or ( C ) an aggregate list of identified consumers based on payment transactions for medical products or services. ( e ) The term investigative consumer report means a consumer report or portion thereof in which information on a consumers character, general reputation, personal characteristics, or mode of living is obtained through personal interviews with neighbors, friends, or associates of the consumer reported on or with others with whom he is acquainted or who may have knowledge concerning any such items of information. However, such information shall not include specific factual information on a consumers credit record obtained directly from a creditor of the consumer or from a consumer reporting agency when such information was obtained directly from a creditor of the consumer or from the consumer. ( f ) The term consumer reporting agency means any person which, for monetary fees, dues, or on a cooperative nonprofit basis, regularly engages in whole or in part in the practice of assembling or evaluating consumer credit information or other information on consumers for the purpose of furnishing consumer reports to third parties, and which uses any means or facility of interstate commerce for the purpose of preparing or furnishing consumer reports. ( g ) The term file, when used in connection with information on any consumer, means all of the information on that consumer recorded and retained by a consumer reporting agency regardless of how the information is stored. ( h ) The term employment purposes when used in connection with a consumer report means a report used for the purpose of evaluating a consumer for employment, promotion, reassignment or retention as an employee. ( i ) Medical Information. The term medical information ( 1 ) means information or data, whether oral or recorded, in any form or medium, created by or derived from a health care provider or the consumer, that relates to ( A ) the past, present, or future physical, mental, or behavioral health or condition of an individual ; ( B ) the provision of health care to an individual ; or ( C ) the payment for the provision of health care to an individual. [ 2 ] ( 2 ) does not include the age or gender of a consumer, demographic information about the consumer, including a consumers residence address or e-mail address, or any other information about a consumer that does not relate to the physical, mental, or behavioral health or condition of a consumer, including the existence or value of any insurance policy. ( j ) Definitions Relating to Child Support Obligations. ( 1 ) Overdue support. The term overdue support has the meaning given to such term in section 666 ( e ) of title 42. ( 2 ) State or local child support enforcement agency. The term State or local child support enforcement agency means a State or local agency which administers a State or local program for establishing and enforcing child support obligations. ( k ) Adverse Action. ( 1 ) Actions included.The term adverse action ( A ) has the same meaning as in section 1691 ( d ) ( 6 ) of this title ; and ( B ) means ( i ) a denial or cancellation of, an increase in any charge for, or a reduction or other adverse or unfavorable change in the terms of coverage or amount of, any insurance, existing or applied for, in connection with the underwriting of insurance ; ( ii ) a denial of employment or any other decision for employment purposes that adversely affects any current or prospective employee ; ( iii ) a denial or cancellation of, an increase in any charge for, or any other adverse or unfavorable change in the terms of, any license or benefit described in section 1681b ( a ) ( 3 ) ( D ) of this title ; and ( iv ) an action taken or determination that is ( I ) made in connection with an application that was made by, or a transaction that was initiated by, any consumer, or in connection with a review of an account under section 1681b ( a ) ( 3 ) ( F ) ( ii ) of this title ; and ( II ) adverse to the interests of the
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MD
Zip: 20601
Submitted Via: Web
Date Sent: 2021-08-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A