Date Received: 2020-11-02
Issue: Trouble during payment process
Subissue:
Consumer Complaint: For the third year in a row, my mortgage company, Loancare, is trying to forceplace me into an unnecessary insurance policy. ( see attached letter from loancare ) They have been sued in the past for illegally forceplacing unsuspecting consumers into unnecessary, high cost insurance plans and then taking kickbacks in return. ( see attached documentation on lawsuit ) My homeowner 's association sent them a copy of the updated master insurance policy ( see attached ) which is more than sufficient coverage for a 2 bedroom condo. I also faxed them copies of this on XX/XX/2020 ( see attached ) and mailed them copies ( see attached proof that they received the documents on XX/XX/2020 ) and uploaded the information to their website on XX/XX/2020. Still, I have yet to receive a response from them. It seems they do this every year and I'm not sure how they are still allowed to operate this way. ( As an aside, I did not choose Loancare to handle my mortgage. Based on the terrible reviews I have seen all over the internet, I would never choose such a company-my loan was, to my horror, sold to them after I purchased my condo. )
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NJ
Zip: 07109
Submitted Via: Web
Date Sent: 2020-11-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-11-02
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: Today 's Date is XX/XX/XXXX We paid-off a Conventional mortgage loan on XX/XX/XXXX. There is a XXXX balance but the lien against our property has not been removed since XX/XX/XXXX. We can not sell or get a HELOC loan due to this ongoing problem with LoanCare. My husband and I have called LoanCare for the past 3 months trying to get them to remove the lien against our property. They acknowledge they need to correct a document ( for some reason they don't know details to explain to me ) and resubmit it to XXXX County Register of Deeds. This has yet to be resolved Since XX/XX/XXXX. We get the same exact excuse every time we call LoanCare. I have logged onto XXXX County Register of Deeds every day and there is no Cancelation, so the lien is still against our property as of XX/XX/XXXX. We will take legal action against LoanCare soon because we have given them more than enough time to resolve this problem. A lien against our property for a paid-off loan is very serious and requires immediate attention and legal action.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NC
Zip: 27518
Submitted Via: Web
Date Sent: 2020-11-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-11-02
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Problem with personal statement of dispute
Consumer Complaint: XX/XX/2020 went into the auto-pay system ( online ) to increase the principle payment on our mortgage amount due. Somehow this altered the date the payment is processed and we received a late payment notice from the lender. We immediately called in and explained what we had done online to the customer service person. She agreed that it should not have happened and waived our late fee. She stated that it was a " Auto-Pay '' system issue and that she had fixed the issue with our account and we should be fine moving forward. The next month it happened again. We called in and again the customer service person stated it was a " Auto-Pay '' system issue, said she fixed the issue and again waived the late fee. This happened again for the month of XXXX ( we were not aware ) until a few weeks later. Again we called and made the payment. ( at this pont we opted out of the " Auto-Pay '' and now manually make our payments online thru the lender 's website ). The lender went ahead and reported us to the credit reporting companies as being delinquent on our XXXX payment. I sent a letter to LoanCare explaining what had happened in detail asking to remove the delinquency notice they had sent. They responded since we were delinquent, they would NOT make any correction. ( even though, their own representatives stated it was a system issue and NOT a failure on our part. ) We have NEVER been late since we opened this account and have always used the " Auto-Pay '' system they offered. They did apologize for any inconvenience or frustrations. During this exasperating experience, my wife and myself ( on two different occasions ), were told that a manager would call us to speak with us about the issue we were having. Both times they NEVER called us back.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 92692
Submitted Via: Web
Date Sent: 2020-11-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-11-02
Issue: Trouble during payment process
Subissue:
Consumer Complaint: In XX/XX/XXXX, we applied for a loan modification through our loan servicer which is Loancare. Our loan number is XXXX. We made our trial payments and the permanent modification documents were sent to us in XX/XX/XXXX. We signed and returned them on XX/XX/XXXX. Loancare received and stamped them on XX/XX/XXXX by XXXX XXXX. On XX/XX/XXXX, the Order Granting Motion to Approve Permanent Modification was granted ( See attached ) On XX/XX/XXXX, I called Loss Mitigation ( spoke with XXXX at XXXX ) as our billing was still showing that we weren't modified and we were showing past due. She told me to send all supporting documentation to the loss mitigation email address she gave me and I did so at XXXX XXXX. On XX/XX/XXXX, I emailed a follow up and copied my attorney asking for all of the information to be updated, late payment fees to be removed, payments to be allocated correctly with the correct interest rate and payment as per the modification, escrow to be adjusted and the like. No response to that either. On XX/XX/XXXX, my attorney sent a certified letter stating that this all needed to be corrected. ( see attached letter ). We received a confirmation letter back stating it would be completed On XX/XX/XXXX, I got a printout from Loancare to see if anything had been done to adjust and nothing had. On XX/XX/XXXX, I asked for another loan printout to see if it had been corrected and again, nothing. XX/XX/XXXX was the 30 days ( excluding the holidays and weekends ) to get it corrected. On XX/XX/XXXX, I called and talked to XXXX who stated that XXXX ( the closer ) still hadn't gotten it corrected and didn't know why it was going on so long. She tried to reach out to XXXX but she didn't answer. I asked her to escalate this to resolution. XXXX stated that she was going to send an email to her own supervisor to get to the closing supervisor. Given that no one has corrected to date, I don't have much faith that this is going to be handled anyway. We are selling our home and we close on XX/XX/XXXX. We have paid all of our mortgage payments. It is imperative that the interest rate, payments, escrow, and late fees all be corrected ASAP so as to not cause any further issue.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33991
Submitted Via: Web
Date Sent: 2020-11-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-10-30
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I have had my home and the same mortgage company since 2015 I believe. I have made every single payment on time up until Covid-19. I filed the correct paperwork and I called my mortgage company to opt for the deferred payment plan. I'm now receiving bills that say I owe over {$11000.00}, my credit score has taken a complete dive and now its about a XXXX which is absolutely awful. I've called Loancare over 10 times, get put on hold, get a supervisor with promises to call back the next day and never do, got an email stating I would hear back with 15 days which never happened. This is the time for people to refinance their homes because of the rates and I'm not able to because it looks like I'm currrently behind in my payments. Since my restaurant reopened and I was back to work I started to once again make my payments on time after the 90 days that I asked for. I'm currently on the phone with them as I type this and again I'm being given excuses and told a supervisor will have to call me back. There must be something someone can do to help me.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NH
Zip: 034XX
Submitted Via: Web
Date Sent: 2020-10-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-10-29
Issue: Trouble during payment process
Subissue:
Consumer Complaint: On or about XX/XX/XXXX, I contacted LoanCare , LLC regarding cessation of my PMI payments because I had reached 80 % of my loan amount. I purchased my condo in XX/XX/XXXX with my first loan payment becoming due on XX/XX/XXXX and, as of XX/XX/XXXX, I had paid down more than 20 % of my loan. Instead of stopping the PMI payments, XXXX sent a form to me so that I may pay to have an appraisal done to the tune of {$400.00} to {$500.00}. My loan will be paid off by XX/XX/XXXX. If I just let them continue to steal {$13.00} a month from me in PMI payments, the amount LoanCare would steal from me is {$260.00}. It seems very unreasonable, not to mention really idiotic, to me to pay $ XXXX {$500.00} to stop LoanCare from taking {$260.00}. As of this date, my current loan balance is {$43000.00}, the original loan amount was {$75000.00} and the condo appraised ( in XX/XX/XXXX ) at {$84000.00}. I have serious doubts that the condo has depreciated much since XX/XX/XXXX. As a matter of fact, I'm pretty sure it has appreciated since then. We're talking months here! I contacted the XXXX XXXX XXXX but they said this complaint is out of their realm so I am reaching out to CFPB in hopes of having this ridiculous charge stopped.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NM
Zip: XXXXX
Submitted Via: Web
Date Sent: 2020-10-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-10-29
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I changed hazard insurance providers on XX/XX/2020 and my insurance agent faxed the new policy information to my mortgage servicer, Loancare ( XXXX ), on XX/XX/2020. I then received two letters saying they did not have the new insurance information and they would potentially be purchasing very expensive hazard insurance for me. I contacted my agent and he showed them that he had faxed them the new policy information on XX/XX/2020. They told him that I had to call and verbally confirm that I had changed insurance providers ( I have never heard of this and believe this to be a business practice in bad-faith, trying to make it harder for me to prove I have hazard insurance ). I tried to call the " XXXX XXXX '' that XXXX said needed the information several times the week of XX/XX/2020. There is no way to get a person on the phone when I called the " XXXX XXXX. '' None. The automated system is so XXXX and there is not a choice to speak to a customer service person. The automated system continued to say that they did not have hazard insurance information for me on file. Loancare/XXXX appears to be deliberating making it impossible for me to update my insurance information, presumably so they can 'buy ' me insurance from a company at an exorbitant rate. I consider them to be acting in bad-faith by requiring me to verbally confirm a change in the policy, when the policy is obviously in my name and on the home that I own.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MD
Zip: 208XX
Submitted Via: Web
Date Sent: 2020-10-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-10-28
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I live within XXXX. Yesterday ( XX/XX/XXXX ) I received a letter dated XX/XX/XXXX from the mortgage servicing company saying I had recently missed a mortgage payment. The letter also stated that I needed to reply by XX/XX/XXXX - which had passed by the time I received it. My bank records here in XXXX show that I have transferred each monthly mortgage payment via internet transfer, using bank transfer details provided by the mortgage company in XXXX. However, the Monthly Statements - along with various other correspondence - appear to be sent via surface mail taking months to arrive. For example the last Monthly Statement I have received, for statement date XX/XX/XXXX, was received by me on XX/XX/XXXX. I have not received monthly statements for XXXX, XXXX or XXXX although I have made payments for each of these months. ( There is unfortunately one monthly payment which may have contained an incorrect amount in error - the unadjusted amount for this year instead of the newly adjusted amount for this year. ) With the delay in receiving correspondence, I now find that I don't have a clear picture of the state of my account ( as I'm unaware of what late payment fees may have been applied to the account ), and that I may be forced into foreclosure. I have been unable to log onto the website for the mortgage company, nor make contact via phone. However I have sent an email yesterday, and am awaiting a response.
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: 2020-10-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-10-28
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Every year Loan Care sends me letters saying that I don't have flood insurance, even when they have had proof of it every time they asked. Then they go an buy a insurance of my behalf which is about 2000 % the amount I actually pay for my actual flood insurance. They do all this without my approval and then charge it to my scrow. I have called them every single year about this issue and after a long process they " fix it ''. I believe they are doing this to other home owners and getting ridiculous amount of money on the process. This is totally wrong and they should be penalized for doing it.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33125
Submitted Via: Web
Date Sent: 2020-10-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-10-27
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: In XX/XX/2019, we asked to apply credit from over paid amounts in the past to our current due payment. The agent at Loancare said they would apply the credit. We paid {$1300.00} and they were to apply a credit of {$140.00}. They never applied the credit and we paid our amount due on time, because the credit was never applied they said our payment was late and now shows on our credit report as a late payment. This is incorrect and an error on Loancare. The phone call was recorded when we asked for the credit to be applied. We have filed multiple times for this to reviewed and is always denied. We have been trying to call since May and have been unable to speak with anyone about the issue or get it resolved. We were able to speak with a manager recently and they also agreed they were in the wrong and listened to the whole phone call. The manager stated when making a decision they dont review phone calls. We are now unable to speak with this manager again as when we are able to get through they state they can not transfer calls to other agents. The phone call needs to be reviewed as Loancare need to remove this late payment from our credit report.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: IL
Zip: 60107
Submitted Via: Web
Date Sent: 2020-10-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A