Date Received: 2020-08-31
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: I requested a forbearance that began on XX/XX/XXXX under the CARES Act due to being impacted by COVID-19. I inquired about how the forbearance would affect my credit and was advised that the status of my loan prior to the forbearance would remain under the duration of the forbearance. Prior to the forbearance, my loan was reported current to the credit bureaus every month so I proceeded with the forbearance option. I paid off my loan on or about XX/XX/XXXX. I reviewed my credit report on XX/XX/XXXX, at which time my credit report showed my mortgage loan as 120 days delinquent with the last on time payment made in XX/XX/XXXX. I called LoanCare to have this information corrected. I was advised to submit a written request via their website under my account. I did so on XX/XX/XXXX ( Ticket # XXXX ). I called LoanCare on XX/XX/XXXX to check the status of my dispute. I was advised by customer service that the process is a 10 business day turnaround. I asked if there was an escalation process where I could request an expedited turnaround as I explained this misinformation on my credit report is preventing my new mortgage loan from going to underwriting for approval and I am scheduled to close on my new home on XX/XX/XXXX. I was advised there was no way to escalate the issue. I then asked to speak to a supervisor. After speaking to the supervisor, I was advised that LoanCare did report my account as current to the credit bureaus and that I would need to contact the credit bureaus themselves. I was also advised that the " credit bureau probably saw that the principal balance did not decrease and automatically flagged my account as past due ''. I then called the credit bureaus who advised me that they only report information that is provided by the lender and that I would need to contact the lender to have then speak to their XXXX rep to have my credit report corrected. I then called LoanCare back the same day ( XX/XX/XXXX ) and spoke with another supervisor who also confirmed my account was reported correctly as current and that I would need to speak with the credit bureaus. He proceeded to send an email to escalate the issue but advised that after they review the file and see that LoanCare reported correctly that I receive a letter that says there were no errors made. I explained that regardless of what their system shows, the credit bureaus show differently and they ( LoanCare ) are the only ones who can communicate the error to the credit bureaus to have this corrected. I called back on XX/XX/XXXX to check the status of my escalated request and was transferred to another supervisor. I was advised of the same information that my account was being reported as current and there was nothing they could do. The supervisor offered to email me a copy of my loan history showing where my account never reached default status in hopes that this would resolve my issue with new mortgage loan application. I spoke with my loan officer and was advised that he can only go by what the credit report shows. I proceeded to call LoanCare back, this time with my loan officer on 3-way, and we were both told the same information as on my other calls. My loan officer explained that my credit is showing as 120 days past due and that LoanCare reported that. This supervisor is the first from all of the other supervisors and customer service reps to acknowledge that LoanCare made an error with my credit reporting. She stated she escalated the issue and I would need to call back to confirm the issue has been corrected. I also submitted a follow up ticket on LoanCare 's website in order to provide them with a copy of my credit report showing my account as delinquent ( ticket # XXXX ). I called back on XX/XX/XXXX to see if there were any new notes on the file and was advised there were not. I asked to submit a complaint and was advised I would need to mail in a written complaint. I asked if there was a way to document my complaint while on the phone and was advised there was not. I asked if there was a complaint intake analyst who could handle my complaint and was advised there was not. I have attached a copy of my credit report as of XX/XX/XXXX. The account information for LoanCare can be found on page 8 of the report.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: VA
Zip: 231XX
Submitted Via: Web
Date Sent: 2020-08-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-31
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: On XX/XX/2020, I received my loan modification paper work, however my wife 's name was spelled incorrectly. We realized this once we went to a notary and they were not able to notarize the paper work due to my wife 's name on the paperwork not matching her Driver 's License. Called our Mortgage Company, they said they would send a new package with updated paperwork. During this process I continued to make trial payments of {$1000.00} to the mortgage company for three months. Once they sent me the updated loan modification papers, COVID 19 caused bank branches to close as well as all mobile notary services I called. I called my mortgage company to explain this delay. Finally setup an appointment, got my papers notarize and sent them via XXXX Overnight. Then received a letter of denial due to the delay in mailing papers back to LoanCare. They mentioned they I would need to do this process over again. I've been trying to handle this for a year now. Sending multiple applications, them denying the loss mitigation application one after another. I just received another denied letter. Filling out another application today but I feel like they aren't willing to work with me. I was already approved and showed I can make my mortgage payments moving forward. I really feel helpless and discouraged, I don't know what's going to happen to my family if we are forced to leave. Please help.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 32926
Submitted Via: Web
Date Sent: 2020-08-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-30
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I need to change my escrow settings for new property taxes that I owe. It is 100 % impossible to get my loan servicer ( LoanCare ) to communicate with me. Their phone service has no ability to speak to a person whatsoever, it's entirely automated and very limited. I have sent several emails with no reply. I did not choose to use LoanCare, my mortgage was sold to them without my permission. This complete lack of customer service is unacceptable.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33578
Submitted Via: Web
Date Sent: 2020-08-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-28
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I purchase my house on XX/XX/XXXX. During the process of my mortgage I was told I was in a flood zone. I also had to purchase flood insurance, costing less than {$600.00} for the year. I purchased a Elevation Certificate on XX/XX/XXXX which shows that my elevation is above the flood plain. Which I knew I could take the elevation certification and sent it to Fema and received a Letter of map amendment. Dated XX/XX/XXXX. On XX/XX/XXXX I faxed the documentation to Loan care to XXXX. I sent them a Letter of Map Amendment removing the requirement of Flood Insurance. Then I called Loan Care Insurance department to follow up a few time until I received the Letter from them dated XX/XX/XXXX. Below is the copy of the letter that I received after I sent in the documentation. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, MI XXXX XXXX : Loan # XXXX Property Address : XXXX XXXX XXXX XXXX XXXX XXXX MI XXXX Dear Customer ( s ) : LoanCare , LLC has reviewed its real estate loan portfolio to identify properties that are exposed to the hazards of flooding. Your property was included in this review. The flood hazard status of a property is determined by its location on maps produced by the Federal Emergency Management Agency ( FEMA ). Occasionally FEMA revises the boundaries of the " Special Flood Hazard Areas '' ( SFHA ) on its maps based on the construction or improvement of canals and levees that mitigate the possibility of losses from flooding in certain areas. LoanCare , LLC has recently contracted with an independent provider whose goal was to perform a flood zone determination on your property and to determine the location of your property on the current FEMA maps and identify its flood " Zone '' status. There was no cost to you for this review. The results of the review indicate that your property is not located within a SFHA on the current FEMA maps. LoanCare , LLC does not require flood hazard insurance to be carried on properties that are not located in SFHA. We understand that you may want to continue this coverage. However it is not a requirement and therefore, it is not our policy to have this as part of the monthly escrow payment. As a result we have deleted the monthly escrow for flood from the mortgage payment and performing an analysis of your loan. When this is completed you will receive a notice stating the change and if there is an overage you will receive a check. If you have any questions, please contact our Insurance Center at XXXX between XXXX - XXXX Monday - Friday EST, except for major holidays. Sincerely, Insurance Department XXXX -- -- This letter is what I had to give to FEMA to cancel the flood insurance. If the lender didn't remove it they will not allow for it to be removed. On XX/XX/XXXX, I received a tax saying my flood has disbursed from escrow account on XX/XX/XXXX. Costing est of {$1700.00}. That surprised me since I thought I no longer had to carry flood. So I tried to call Loancare Insurance department. I wasn't able to get ahold of an actual person but I was directed to a website that I could upload flood or hoi documentation. So I uploaded the letter saying that Loancare determined that flood was not needed on property unless I choose to have it. I waited a few days for it process. Then it said it was processed and nothing came out of it. So I tried and tried to contact a person. On XXXX Finally I do talk to a person and the lady ( XXXX ) that answered wanted to know how I got to her extension, then asked for my information and phone number incase we are disconnected, then she told me to hold then we were disconnected and I have never received a call back from her. I called the same day and talked to another lady she said she took care of it and it will take 7 business days before they refund the flood insurance back to my escrow. I asked if there was a reference # that I could have and she said no, only her name. ( which I can't locate at this time ) At the same time I contacted the XXXX XXXX XXXX and filed a complaint. On XX/XX/XXXX they sent the rebuttal saying they mailed me two letters out one on XX/XX/XXXX. Which they may have sent out but I didn't receive it. That 2 days after they sent me a letter after their investigation someone pulled a flood certification on XX/XX/XXXX and flood certification said property is in a flood. Now they want an amended Letter of Map Amendment dated after XXXX XXXX. My escrows are now in a shortage and they said that my mortgage payment will now increase. Which this is causing so much stress for me. This is a horrible time to do this in the Covid-19 crisis.. that they will now increase my mortgage payment. I feel that Loancare dropped the ball an instead of correcting it they are going to require me to run around trying to get more documentation, lose time at work to get this some done ... when it was already done. The customer service is absolutely horrible. I feel that this will be never ending. I'm not able to talk to a person get an id or a reference number. Nobody is accountable.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 48045
Submitted Via: Web
Date Sent: 2020-08-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-27
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: Due to a COVID 19 hardship, I requested a 90 Forbearance on my mortgage loan with LoanCare LLC beginning XX/XX/XXXX and ending XX/XX/XXXX. My account was current as of XX/XX/XXXX and I have made my XX/XX/XXXX payment. I have been approved by LaonCare LLC for payment deferral of the three missed payments. LoanCare is reporting my loan as DELINQUENT to XXXX and XXXX which has severely impacted my credit score! My account was current before the Forebearance and is now CURRENT and the CARES ACT prohibits mortgage companies from negatively reporting accounts that have requested forbearance because of a COVID 19 hardship. LoanCare says they will " look into it '' but it may take as long as 30 days to review. This is UNACCEPTABLE!!! My credit report and credit score are being held hostage by this company and they refuse to address it! I have spoken to no less than 12 people over the course of the last 10 days with no assistance.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: RI
Zip: 029XX
Submitted Via: Web
Date Sent: 2020-09-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-27
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I instructed XXXX. XXXX to pay LoanCare {$920.00} on XXXX XX/XX/2020 to be received on XXXX XX/XX/2020. My payment cleared my XXXX. XXXX checking account on XXXX XX/XX/2020. LoanCare failed to credit my account. I requested that XXXX. XXXX fax proof of payment to LoanCare via LoanCare Collections at XXXX. This was accomplished on XXXX XX/XX/2020.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MN
Zip: 554XX
Submitted Via: Web
Date Sent: 2020-08-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-26
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: 1. the loan was paid off on XX/XX/XXXX 2. after not having the mortgage discharged with the Registry of Deeds ( the payoff amount included the " recording fee '' ) and not having mailed it to me either, I called LoanCare customer support on XX/XX/XXXX. They told me the discharged will be processed and the turnaround time is until XX/XX/XXXX. 3. On XX/XX/XXXX, after not seeing the mortgage either discharged with the Registry of Deeds or mailed to me, I e-mailed the customer support. The automated response assigned the inquiry as follows : " Release Loan Satisfaction Inquiry ( Ticket # XXXX ) '' 4. as of today, XX/XX/XXXX, I haven't heard back from them. 5. In Massachusetts, XXXX. Chapter XXXX, Section 55 requires the lender to discharge the mortgage within 45 days of receipt of full payment of the loan. Failure to comply within the 45-day time-frame subjects the lender to penalties in an amount equal to the greater of {$2500.00} or the actual damages sustained by the mortgagor as the result of the failure, together with reasonable attorneys fees and costs 6. as of today, XX/XX/XXXX, LoanCare is already in violation of M.G.L. Chapter 183, Section 55
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MA
Zip: 02446
Submitted Via: Web
Date Sent: 2020-08-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-26
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: I have an FHA mortgage on a residence that I currently reside in. On XXXX-2020, my mortgage servicer, Loancare, approved me for a 180-day forbearance. Prior to the start of the forbearance, my account was in a delinquent status because the mortgage payment for XX/XX/2020 had not been made. On XX/XX/2020 I was able to pay in full, the delinquent payment for XX/XX/2020. At this point, my account was caught up on payments and the only unpaid months were the months covered under the forbearance ( XX/XX/2020 and beyond ). On XXXX-2020, I looked at my credit reports for XXXX, XXXX, and XXXX. All three credit reports showed that Loancare is still reporting my account as delinquent even though the only payments that are outstanding are the payments covered under the forbearance. I read section 4021 of the CARES act which says : " If the consumer brings the credit obligation or account current during the period described in item ( aa ), report the credit obligation or account as current. '' I conducted further research on the CFPB website and found the following excerpt from an article entitled, " Protecting your credit during the coronavirus pandemic '' : " If your account is already delinquent and you make an agreement, and you bring your account current, the creditor must report that you are current on your loan or account. '' I made contact with a Loancare representative via telephone and explained to him that I believed Loancare was reporting my account incorrectly to the credit bureaus because, under the CARES act, my account had been brought current when I made the delinquent XX/XX/2020 payment. I advised him what I had learned from reading section 4021 of the CARES act and the article on the CFPB website. The representative advised me that my account was being reported correctly because if it was delinquent prior to the beginning of the forbearance, they were able to continue reporting the account as delinquent even after I had made the past due payment. He also advised me that even though the past due payment had been made, the account could still be reported as delinquent because the payment months covered under the forbearance are technically late. I advised him that I believed that the CARES was not being interpreted correctly and he ensured me that it was. My research leads me to the conclusion that payments that are not made while actively in forbearance should not be reported to the credit bureau as late under Section 4021 of the CARES act.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30228
Submitted Via: Web
Date Sent: 2020-08-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-26
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Paid off mortgage with Loancare. Letter from mortgage company dated XX/XX/XXXX acknowledging payoff. Called XX/XX/XXXX because we had not seen any change at county recorder 's office. XXXX started request fro inquiry, to be completed XX/XX/XXXX. Again saw no record at county recorder 's office and called back XX/XX/XXXX. XXXX found Release and Reconveyance of Deed of Trust had been received back from county recorder 's office and emailed to me. Found our last name had been misspelled and called back on XX/XX/XXXX. XXXX opened request for inquiry and said to call after XX/XX/XXXX. Called back XX/XX/XXXX. XXXX told me it had gone to county recorder 's office on XX/XX/XXXX and to check back in 1 week. called back on XX/XX/XXXX. XXXX found nothing back, suggested I email XXXX. I have now emailed twice. First on XX/XX/XXXX, second on XX/XX/XXXX. NEED EMAIL ADDRESS TO FORWARD EMAILS TO YOU.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AZ
Zip: 86406
Submitted Via: Web
Date Sent: 2020-09-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-25
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My home is currently in foreclosure with LoanCare LLC. I called to request a reinstatement amount. I was given a reinstatement amount of {$16000.00}. In my calculation, this amount is incorrect and I previously requested a payment history in writing TWICE but my request was never processed. I was told on the XX/XX/2020 to send the payment via wire transfer. I went to my bank at XXXX CST to send the wire. I called XX/XX/2020 and was informed my wire was not received. I was transferred to Supervisor XXXX Agent # XXXX. He sounded sleepy or possibly inebriated. He spoke in a very unprofessional tone. He was able to locate my payment but said he did not know when it would be applied. I explained to him a loan servicer can not delay applying a payment. He said he would research. I explained the amount they gave me to reinstate my loan was good through XX/XX/2020. LoanCare has hindered me every step of the way in my attempts to save my home from foreclosure. They have given me misinformation and lied about what options I had to keep my home. This is just another in a long list of tactics employed by this company to try to remove me from my home. I received a letter yesterday stating I agreed to sell my home. I never agreed to that either. Now today you are unable to apply my payment? It is not only fraud but discrimination.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 75104
Submitted Via: Web
Date Sent: 2020-08-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A