Date Received: 2020-10-19
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I refinanced and payed of the loan on XX/XX/XXXX, Loancare customer serviced showed a XXXX balance on that date. On XX/XX/XXXX they took out a payment of XXXX. I called that day asking why and when do get my money back, they said it would take 10 to 15 business day to get it all back. I call on XX/XX/XXXX and they told me the escrow check was mailed on XX/XX/XXXX but not any overpayment. The said they are checking on it and would contact me. I call a few minutes later and they told me an account was set up and it would take 24 to 48 hours to process and I ask for an overnight check because of their error which XXXX admitted they made but she would not promise me it would happen that way. This totally unacceptable. They took this money on a closed account. They should not be able to do this anytime especially during this stressful time. Im complaining not only for myself but all Veterans.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MT
Zip: 59602
Submitted Via: Web
Date Sent: 2020-10-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-10-16
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: RE : Closing costs for refinanced VA loan did not disclose a late charge amount. I received a letter on XXXX XXXX advising me of a late paymnent on a mortgage serviced by Loancare, m XXXX XXXX XXXX, XXXX XXXX, VA XXXX. The notification also included a {$38.00} late charge posted on XXXX XXXX. I contacted the service center to confirm loan pay off and to dispute the assignment of a late charge advising that the mortgage was refinanced two days previously on the morning of XXXX XXXX. I was advised that because the original loan had been " closed '' a refund could not be made. I asked to speak to a supervisor who indicated that she was not empowered to make a refund. I called the the originator of the refinance loan prior to calling Loancare to ask why I would have received a letter indicating scheduled payment had not been made. He made me aware that it was likely a computer generated notice of non payment.and to contactc the loan servicing agent. He also made me aware that servicing companies are made aware of the pending closing date/payoff date. This in turn generates an estimated pay off amount several days prior to the actual closing. It is customary to roll the monthly payment and interest into the pay out as well as includ a late fee in that amount. My originator noted that is a customary practice to add the late fee and that most borrowers do not " catch '' it. In my case, the computer generated letter brought it to my attrention. I was also made aware that once a closing date is firmly set the servicing company is contacted for a final payout amount. That amount would have been determined the previoujs Friday, XXXX XXXX. Discussion with the loan service agent and supervisor addressed the following concerns : 1. The inclusion of a late fee and non-disclosure of that fee in calculating the final payout is inapporpriate and denies the consumer the right to full disclosure of the loa amount. 2. Failure to remove the late fee in the final payout amount with the forknowlege that the closing date for the new loan will occur prior to the end of a grace period or date for computer generated posting of an accrued late fee evidences an intent to willfully hide that amount from the consumer and will hopefully not " be caught. '' 3. LoanCare 's records reflect that the loan was closed as discussed but that the final posting of the payout to them did not occur until XXXX XXXX due to the mandatory XXXXday waiting period. That posting evidences that the transaction occured prior to the morning of XXXX XXXX - the day prior to the computer generated letter and assignment of the late charge. 4. The addition of a late fee improperly asserts that the lender willfully failed to make a payment. Loancare was advised prior to XXXX XXXX of the pending closing process and to discontinue the automatic mortgage deduction that has run the course of the original loan. 5. It is a customary business practice of forgiveness for one-time late payments. Loancare 's servicing agent and supervisor were not empowered to do this - especially considering the times, dates and circumstances in their records. 6. Providing an email address to further this complaint within Loancare fails to address the problem at the lowest level, but " passes the buck ''.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33884
Submitted Via: Web
Date Sent: 2020-10-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-10-16
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Investigation took more than 30 days
Consumer Complaint: We contacted our Lender about a refinance in XXXX of XXXX. They told us because of 2 previous late payments, we would need to apply for a modification instead. But to be approved for the modification, we must be 30 days late, but the late payments would be deleted upon approval. We didnt make our payment, and submitted the application. We still paid each month, but made sure it always was 30 days past due per their guidelines. What was supposed to be 45 day process turned into 7 months. Then they called us in XXXX telling us they " accidentally '' denied our application, but because it's different laws than a refi.. we would need to reapply and start the process over. We declined and immediately brought the loan current. I then for 4 months in a row disputed the required late payments, asking them to remove them from our credit, since it was what THEY required for the application process. They continually declined our requests to remove. On XX/XX/XXXX, I received a letter from them stating they had again received our dispute request to remove the late payments showing on our mortgage, from XX/XX/XXXX - XX/XX/XXXX. After not receiving any response I called in on XX/XX/XXXX, and was notified it was again denied. They then forwarded me a copy of the denial letter ( since we never received the denial letter by email or by mail ), which wasn't generated by them until XX/XX/XXXX. Outside of the 30 day FCRA guidelines. I then called them more than 15 times, letting them know they were over the 30 day limit, and now they were required by law to remove these late payments they were reporting. They STILL refuse to remove them. After dealing with this for over half the year now ... it was suggested I come to you for a resolution to get these removed, for not only their error in not responding within the required amount of time by the FCRA of 30 days, but for just not doing the right thing for their borrowers based on THEIR mistake and lies during our modification application process.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AZ
Zip: 857XX
Submitted Via: Web
Date Sent: 2020-10-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-10-15
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Loancare LLC gave false information and stated that a loan modification was granted via phone, a letter was recieved stating that no modification was granted. XXXX? Loancare LLC knowingly claimed that my primary residence is NOT my primary residence, as paperwork was supplied as requested by Loancare verifying home occupation. Loancare LLC willingly engaged in dual tracking in violation of federal law.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NV
Zip: 89044
Submitted Via: Web
Date Sent: 2020-10-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-10-16
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Hello, we have a mortgage that was purchased by " XXXX XXXX ''. since they purchased our mortgage we have had no luck in talking with a customer support person. There automated service is terrible, goes round in circles and when we try to make a payment we get all the way through the process and it says they are experiencing difficulties please call back. This has happened on about six occasions. we have literally spent over an hour on phones trying at various time to get through. The kicker happened this week. last week we asked for a payoff amount ... ... ( we actually got a real person for the first time, apparently that's the only way to reach a real person is ask for pay off amounts!! ) ) and gave all our info that was asked for. I received an email with someone else 's pay off info ... ... their address names etc. I will copy it to this letter. I can only wonder who got all out personal info and how this happens. We just want to pay off this mortgage and get on with life. These people clearly don't care about their customers by their handling of us when we talked to the representative to the way they protect our personal info. At our wits end here 's what we received ... ... Page XXXX LOANCARE , LLC XXXX XXXX XXXX XXXX XXXX VA XXXX PAYOFF STATEMENT Request Date : XXXX XXXX XXXX XXXX XXXX XXXX XXXX Issue Date : XXXX XXXX XXXX XXXX XXXX XXXXt XXXX MO XXXX Loan Number : XXXX Loan Type : CONV W/O PMI Payoff Good Through Date : XXXX Property Address : XXXX XXXX XXXX XXXX XXXXXXXX XXXX MO XXXX XXXX XXXX PAYOFF AMOUNT INFORMATION XXXX CONTACT US _ This loan is due for the Customer Service XX/XX/2020 payment. XXXX XXXX XXXX XXXX The current total unpaid principal *Calls are monitored and recorded balance is : {$190000.00} to ensure quality service. Interest at 5.25000 % : {$690.00} Less Current Escrow Balance : {$.00} Hours Suspense Balance : {$.00} Monday-Friday : XXXX XXXX. to XXXX XXXX EST Total Fees and Charges : {$24.00} Saturday : XXXX XXXX to XXXX XXXX EST Website : TOTAL AMOUNT TO PAY IN FULL : {$190000.00} XXXX XXXX CONTRACTUAL AND OTHER FEES AND CHARGES DUE _ PRO RATA PMI : {$.00} Prepayment penalty : {$.00} Processing/Recording : {$24.00} Revision Fee : {$.00} Escrow/Impound Statement Fee : {$.00} Overdraft : {$.00} Recoverable Corporate Advance Buydown Subsidy/Replacement Balance : {$.00} Reserve Balance : {$.00} Other Fees Due : {$.00} Unpaid Late Charges : {$.00} XXXX XXXX Map Fee : {$.00} Unpaid NSF Charges : {$.00} ____________________________________________________________________________ ESCROW INFORMATION Escrow Balance : {$.00} Restricted Escrow : {$.00} Please note that tax and insurance disbursements will continue to be made during this payoff statement period. A refund of any remaining money will be sent to your address of record within 15 business days. If you are relocating, please remember to update your address on our website which can be found on your most recent statement. The payoff statement amount is accurate up to the date the statement is issued. The total amount is good through XXXX. Please be advised that funds received after this date will be subject to an additional {$27.00} per day. If this obligation is not paid-in-full by the payoff good through date, then an updated payoff amount must be obtained. Depending on the state law, a charge may be incurred for such a request. Issuance of this statement does not suspend the contractual requirements to make payments when due in in compliance with the terms of your note and security instrument. If payments are not made on or before the expiration of the grace period, a late charge of {$59.00} will be assessed. PAYOFF REMITTANCE INSTRUCTIONS HAVE BEEN INCLUDED FOR YOUR REFERENCE.
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: 2020-10-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-10-16
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Problem with personal statement of dispute
Consumer Complaint: What happened was that we were refinancing our current home mortgage with loancare with this other mortgage loan company called XXXX, and they advised me that they would be taking care of my XX/XX/XXXX payment when the closing took place on XX/XX/XXXX. I received a call from the loan officer that day stating that they put on hold until the XXXX due to recent state restrictions because of covid. On this day I received another call from them to say that they were putting a hold to the loan until the restrictions in NJ were lifted due to the pandemic because my husband job was closed due to the state shutdown, I then proceeded to contact Loancare about my XXXX payment. The XXXX payment was not made until XX/XX/XXXX due to me trying to contact a supervisor from XX/XX/XXXX to the XXXX since staff was limited due to covid. I spoke with several reps who instructed me to speak with a supervisor so that no late fees occurred or bad reporting due to the other lender putting the loan on hold due to Covid19. I do not feel like this is an accurate reflection of my credit history or my relationship with Loancare. I have called their credit reporting department and send emails with no luck or resolution. If you were to review my credit history, you would see this is the only late payment I have ever had. I have put in disputes with the XXXX credit reporting agencies with no luck as well. Transunion suggested that I reach out to consumer finance for further help. This situation was beyond my control please, I need help covid affected us so much and I can't refinance my home because this " one '' payment is hurting me so much. Other lenders can help me refinance because they state i have to wait 6-8 months and make payments on time. That was the only payment that was ever late since I purchased my home in XXXX of XXXX all of my payments even during the shut down were on time and two weeks early. Please help me with this situation that was beyond my control.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NJ
Zip: 08520
Submitted Via: Web
Date Sent: 2020-10-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-10-15
Issue: Trouble during payment process
Subissue:
Consumer Complaint: To Whom it may concern, My husband and I own a home in XXXX, OR. The mortgage holder is a company named XXXX which is based at XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX PA XXXX. We have always payed our mortgage via scheduled auto-payment initially to XXXX XXXX ( with whom our mortgage originated ) and then to XXXX ( to whom our mortgage was sold. ) XXXX failed to process our mortgage auto-payment scheduled on XX/XX/2020 for no explainable reason. This is particularly curious we have two mortgage accounts on separate properties with this company ( one for our residence and one for a home my mother lives in ) and the second loan ( my mother 's house ) took payment on the due date without any issues. I want to emphasize that we have never missed a mortgage payment in our lives until this error which was made by XXXX, not by us. At the time our auto-payment was due, there were more than sufficient funds in our bank account ( {$7300.00} dollars in that specific account at the time for which the scheduled payment of {$2100.00} was to be drawn. ) XXXX evidently suspended further auto-payments without notifying us and as a result our XX/XX/XXXX payment for the properly at XXXX XXXX XXXX XXXX was also not drawn. The first information we received as a customer was a physical letter that arrived in our mailbox on XX/XX/XXXX -- the letter had been written on XX/XX/2020. Upon receiving this notification we instantly called the XXXX customer service number and set up payment for the missing two months ( XX/XX/XXXX and XX/XX/XXXX ). When we contacted XXXX they were unable to explain what happened. They had no explanation at all. The customer service associate rescinded the late fees due to the clear mismanagement of the situation by XXXX. On inquiring how this could have happened and how this could be prevented in future, their only answer was that there was no explanation for the missing payment and there was no way they could guarantee that it would not happen again for any payment at any point in the future. This is not satisfactory and frankly, looks a bit suspicious. When we asked why there was no way that there could be automatic confirmation or communication upon successful payments, or even just for late or missing payments to which the only response was that they " don`t have that capability ''. I find this very disturbing -- a company providing financial services of this nature, who is set up to draw automatic payments and is quite able to send me frequent emails regarding their other financial products and information on refinancing, surely is capable of sending an electronic notice confirming receipt of payment. My husband then asked if this meant we now have to manually log into our personal bank accounts and check that this company has deducted the correct payment every month for the rest of the loan. The reply was that yes -this is the best solution. This would require that we check our bank statement online everyday from the XXXX of the month through the XXXX of the month and then contact XXXX if the payment wasn't taken and make arrangements for manual payments. Under those circumstances, one would have to ask what purpose having auto-pay would even serve?! We were asked by XXXX to write a formal letter and email it to them through their web site " myloancare.com '' via the Contact Us button which we did. All of this has resulted in a precipitous drop in our credit score which has us very, very angry. Our credit score dropped XXXX points! I have notified XXXX of this issue and that I expect this to be corrected only to be put on hold multiple times and told by the service person I am speaking with they can only note my concerns, but not do anything about them. Shortly after writing our complaint letter to them earlier this week, my husband got a message from XXXX asking that I phone them at XXXX. I did that today, navigated their confusing phone menu, finally got a customer service person who had no idea why I was calling ( even though XXXX had asked ME to call THEM ), put me on hold several times in the middle of the conversation, had the audacity to advise me we still owed them money for our XXXX Mortgage Payment ( my husband manually paid both the XXXX Mortgage Fee and the XXXX Mortgage Fee and our bank statement reflects that fact ), and then advised me she didn't have the authority to do anything constructive to solve this problem which was entirely the fault of XXXX not me or my spouse. We have been clear in our expectations to XXXX in what we feel should happen going forward : 1 ) We want XXXX to be clear that our account is not in arrears. 2 ) We want our Credit Rating CORRECTED. 3 ) We want assurances that XXXX is managed with sufficient competence to run an auto-pay program that works correctly -- if they can not do this properly they have no business doing it at all and if they can not manage that, one has to wonder if they should even be in the financial services business.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: OR
Zip: XXXXX
Submitted Via: Web
Date Sent: 2020-10-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-10-15
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I reached out to my mortgage company on XX/XX/XXXX in regards to a missed payment that happened in XXXX of XXXX. I purchased the home in XXXX of XXXX, several months before my wife became terribly XXXX My wife was diagnosed with severe XXXX XXXXXXXX and was XXXX for several months during late XXXX to early XXXX. The doctors had to perform XXXX XXXX just to keep her in a stable condition, this was a serious life or death matter for her. Later when I experienced the XXXX of my wife, I became her sole care provider and became disorganized with respect to making timely payments on Loan No : XXXX. Before my wife 's XXXX, my record was spotless in on-time payments, and since I missed a payment, I have worked diligently to rehabilitate my relationship with the mortgage company and have not missed a payment since then. I have advised the mortgage company of this and have even sent goodwill letters in hopes of forgiveness for this missed payment due to my wife 's XXXX. I have even asked if I could supply documentation that would assist in reaching a positive outcome, I asked if I could furnish my wifes XXXX records, diagnosis paperwork, and aftercare procedures if it was needed.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 480XX
Submitted Via: Web
Date Sent: 2020-10-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-10-15
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Your company did not properly credit the payment that I made on or about XX/XX/XXXX for {$9900.00}. This payment should have been credited to all the missed payments from when I was on forbearance plan during the period of XXXX XXXX. To this date, I am still not sure how this amount was credited in the account. Currently it shows also that my payments starting XX/XX/XXXX through XX/XX/XXXX have also been deferred and I have not requested this deferral. I have called customer service at loancare multiple times and spoken to so many people and this issue has yet to be resolved. I have been in contact with loancare since XX/XX/XXXX to resolve these errors and nothing has been done. The last call that I attempted to make was on Friday XX/XX/XXXX and I spoke with team lead XXXX ( Agent ID XXXX ) who advised me she will be working on the issue and try to resolve it for me. To this date, I have not heard anything back from her. I have spoken to XXXX XXXX team lead at LoanCare, XXXX, XXXX ( agent ID XXXX ), and specifically my large payment that was supposed to be applied to my forbearance period was made with ( XXXX agent ID XXXX ) on XX/XX/XXXX. All these names of agents that I have spoken to all failed to keep up their word and to help me out with the issues in my account. This is taking so much time and effort out of my day at work. Some of the names of the agents I did not even write down because I did not think anything was going to happen anyway. LoanCare failed to provide an accurate mortgage payoff balance that I requested on XX/XX/XXXX. I received my payoff statement reflecting a second principal mortgage on the account in the exact balance that I paid which was {$9900.00}. To this date, I am not sure why LoanCare added a second mortgage on my account without my consent and even after me paying my FULL balance due for my forbearance period.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 92020
Submitted Via: Web
Date Sent: 2020-10-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-10-14
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: LoanCare LN XXXX XXXX XXXX XXXX, XXXX XXXX CA XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX XXXX Short sale was started with LoanCare XX/XX/20. LoanCare has been fighting us every step of the way regarding the homeowners EDD Award Letter and EDD statement printouts being in XXXX instead of English. ***** THIS IS A CLEAR CASE OF XXXX ****** LoanCare is refusing to acknowledge the XXXX Award Letter and their XXXX Statement because they are in XXXX. They are demanding the borrower get a copy in English, which is not possible given the laws that protect non-English-speaking borrowers. XXXX said they have XXXX speaking customer service representatives, but no XXXX speaking underwriters and therefore can not use the letter we sent. THEY ARE DEMANDING THE DOCUMENTS/LETTERS BE PRODUCED IN ENGLISH, EVEN AFTER WE INFORMED LOANCARE THAT IT IS A VIOLATION OF BOTH STATE AND FEDERAL LAW, AS WELL AS THEIR SERVICING GUIDELINES. The State will not and can not produce these letters/documents in a language that the borrower DOES NOT SPEAK, as the borrower has indicated to the State that XXXX is their main language those letters/documents will ONLY be produced in XXXX. ****LOANCARE DOES NOT HAVE THE ABILITY TO SERVICE THEIR CLIENTS****** THIS IS A CLEAR CASE OF XXXX ***********
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: 2020-10-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A