Date Received: 2019-11-04
Issue: Trouble during payment process
Subissue:
Consumer Complaint: On XX/XX/2019, Loan Care cashed my mortgage payment check. This was posted to my bank account on XX/XX/2019. On XX/XX/2019, Loan cashed my mortgage payment check. This was posted to my bank account on XX/XX/2019. Loan Care lied that they had not received any payments for 2 months so they charged me late fees and reported 2 months delinquency no payments to credit bureaus. On XX/XX/2019, I sent Loan Care a letter to let them know that 2 payment checks had been processed by Loan Care. Those 2 payments were still within the grace period ( which was between the XXXX to the XXXX of each month ). I requested that Loan Care credit all the late fees and correct the negative reports that they already reported to those two credit bureaus or else I would like to hear from loan care within 30 days before I file a compliant against Loan Care. However, I have not heard any responses from Loan Care. I truly need your help to investigate this matter because Loan care did not honor their 15 days grace period, lied, and charged late fees to borrower. As a result, this negatively impacted my credit score. Thank you in advance for your time and attention.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 95823
Submitted Via: Web
Date Sent: 2019-11-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-11-04
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: Up until now, I have had a very strong credit score ( above 780 ) with a long history of paying on time on all accounts. Shortly after our mortgage was transferred to LoanCare, there was an issue with LoanCares auto-draft system set up on www.myloancare.com, which caused my XX/XX/2019 mortgage payment to not go through. The result was a hit to my credit score of >100 points, which has significantly affected our family. Details of the error : On XX/XX/19 I registered for a web account through www.myloancare.com. I made a web payment on XX/XX/19. On the same day, I went through all necessary steps online to set up auto payments, which were set to kick in starting in XXXX. This auto payment didn't go through due to a LoanCare system error. I didnt receive a notification of delinquent payment that was sent by uncertified mail on XX/XX/19 to an outdated address and I have no record of a phone call from Loancare made on XX/XX/19. On XX/XX/19, I noticed a significant decline in my credit score due to this account being overdue. The next day, I made a full web payment for XXXX, XXXX, and a late fee. My account is paid in full and there will be no more missed payments in the future. I have opened a disputes with LoanCare, XX/XX/XXXX, and XX/XX/XXXX, which have been denied without explanation. I have had many phone calls with LoanCare and XX/XX/XXXX about this dispute. I am requesting website user logs from LoanCare that prove that there was never an autodraft payment set up in XXXX of 2019.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: WA
Zip: 98109
Submitted Via: Web
Date Sent: 2019-11-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-11-02
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Investigation took more than 30 days
Consumer Complaint: This particular account situation that is lately filing on my own credit document has a seriously unfavorable relation to my personal ability to obtain a present loan application. I highly recommend you generate verification that XXXX XXXX XXXX has been reported completely in accordance with the Fair Credit Reporting Act regulations, it's really a serious problem to mis-report. Moreconfirmation of the aforesaid item too. My proper request mustover, I was never 30 days/60 days/120 days late in any of my payments and I'm not greatly tuned in to the date opened so I prefer to ask you be investigated as soon as possible and confirmed to be correct. Thanks!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 93314
Submitted Via: Web
Date Sent: 2019-11-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-11-02
Issue: Trouble during payment process
Subissue:
Consumer Complaint: XXXX went bankrupt. Loancare LLC took over the loan in XX/XX/2019. I was making automatic Bill Pay payments with XXXX XXXX XXXX and two payments were made using the old XXXX account number before I changed the account number with Bill Pay when I found out the new information and new loan number from Loan Care in XX/XX/2019. The XXXX payment went through fine despite the wrong account number on the check. Loan Care is saying they never received the XXXX payment but the money was withdrawn by LoanCare in XXXX. I have made at least 10 phone calls to try to resolve this and have sent proof of payment numerous time. I was even on a conference call with XXXX XXXX XXXX and LoanCare at which point XXXX XXXX XXXX sent over a Payment Transmittal Form. I have uploaded the form as well and emailed it several times. I have enclosed it to this form. I just received a call today saying I am behind on my payments. Which I am not. XX/XX/2019 payment : {$2300.00} Last call : XX/XX/XXXX Ticket number : XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 48009
Submitted Via: Web
Date Sent: 2019-11-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-11-01
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: XXXX XXXX is attempting to complete a short sale with Loancare since XX/XX/2019. XXXX XXXX XXXX called Loancare and they said nothing is needed and we will have a decision next week. XXXX XXXX called Loancare XXXX and the said to call back next week and they will email me a copy of the short sale approval letter. XXXX XXXX XXXX called Loancare and the manager said the short sale was denied because there is a 2nd. mortgage lien on title. The manager called XXXX XXXX and said that was a mistake as the loan is a 2nd. mortgage with Loancare. The file we re-opened and loancare said they will have a decision in 2-3 business days. XXXX XXXX XXXX called Loancare and they said the file is closed because it is in an active Bankruptcy. I spoke with a manager and they said that is a mistake as we have Chapter XXXX Bankruptcy attorney approval to short sale. After being on hold for about an hour he said the file will be escalated for a decision, and to call back in 2-3 business days. XXXX Loancare said that the file can not be reviewed for a short sale until Loancare receives the 1st. mortgage payoff letter. After speaking with the manage again they were able to find the 1st. mortgage loan payoff letter that was emailed to them back in XXXX. He said he will send the file to the investor for a decision. The occurance of events mentioned about are just 4 weeks of 8 months of continuing mis informed updates, and many occasions of them not receiving documents but then after further review they eventually find the documents they said they don't have. Can someone please help Loancare follow short sale guidelines.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: OH
Zip: 44094
Submitted Via: Web
Date Sent: 2019-11-06
Company Response to Consumer: Closed with explanation
Timely Response: No
Consumer Disputed: N/A
Date Received: 2019-11-01
Issue: Attempts to collect debt not owed
Subissue: Debt was paid
Consumer Complaint: I am writing to request your help. I have a mortgage with Loancare ; account number XXXX, opened date XX/XX/XXXX. This company is reporting a late payment on my account and I want to explain why they are committing multiple violations to the FCRA by doing this. I have mortgages dating back to XXXX and I HAVE NEVER BEEN LATE. Back in XXXX, I processed the Loancare payment online and for any reason, their website indicated that the transaction was successful. I realized that the payment was not submitted until XXXX, when they called me. I have been told that they have a terrible website and I confirmed that on XXXX. They are being unreasonable because THEY NEVER HAD CALLED OR MAILED A NOTIFICATION until XXXX and nothing in XXXX when the payment was late. The FCRA requires any debt collector company to notify the consumer when a payment is due. Loancare is also committing violations to the section ( 609 ) of the Fair Credit Reporting Act by reporting false and erroneous information. The first time a live person called was XX/XX/XXXX after the payment was due, WE IMMEDIATELY PAID. This is a joint account, therefore, two people are being affected by this companys NEGLIGENCE and UNFAIR BUSINESS PRACTICES. We have a Pending mortgage for {$300000.00} because of this wrong information being reported. I am demanding a Deletion letter from Loancare. This inaccurate mark must be removed or corrected ; otherwise, I will not have another option but FILE A LAW SUIT for all the violations committed. Attached : Bank account as proof of that I had enough funds to pay.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MD
Zip: 21136
Submitted Via: Web
Date Sent: 2019-11-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-31
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I have a first and a second with my home at XXXX XXXX XXXX in XXXX XXXX Co -- my first has gone from XXXX to XXXX to XXXX and now Loan Care ea company before Loan Care declaring bankruptcy and stealing the escrow in each case -- a federal just in the case of XXXX, a XXXX owned company, actually entertained a class action law suit for lender placed insurance and it cost me 6 months of extended insurance above and beoynd of about {$300.00} per month for 6 months -- the bankruptcy court ruled in the corporations favor and sent us a measely check of {$63.00} -- I did not even cash mine as did not many others and this causes the loans to be sold resold. When my insurance agent popped my insurance 61 % Loancare increased my monthly payment 71 % and sent me a new escrow statement even after I replaced the original amount that they were asking for with a new payment of {$510.00} from {$450.00} and the replacement check of {$870.00} as Loancare asked -- Original amount was {$1700.00} -- Loancare consequently never credited my original escrow account and sent me another escrow statement asking for original {$1700.00} and a house payment of {$770.00} -- these escrow accounts are only scams by loan servicing companies and they prey on older folk like myself at XXXX years old to comply. I say U.S. Govt fix this XXXX -- people are being treated very poorly and hard earned retirement savings are being stolen by major corporations. I contacted Senator XXXX office and XXXX put me in contact with you -- I have contacted XXXX XXXX and also sent them the information.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CO
Zip: 801XX
Submitted Via: Web
Date Sent: 2019-11-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-30
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I have a new flood insurance and was given to the company weeks ago this is a new loan with new flood insurance, on XX/XX/2019 Loan Care received the information and has not updated my monthly payment which is to be lowered. My mortgage is due in 2 days and still no new monthly payment. I have reached out to Loan Care many many times and still no conclusion. I also sent a request through Loan Care website as instructed to by a representative of Loan Care. Have been told it will be updated by XX/XX/2019 and as of today XX/XX/2019 payment has not been updated.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 923XX
Submitted Via: Web
Date Sent: 2019-11-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-30
Issue: Trouble during payment process
Subissue:
Consumer Complaint: XXXX, my previous mortgage loan servicer, made in error when determining my escrow account payments. They effectively doubled the amount on one of my two tax payments that are required per year. This was done in error in which they aid they were doing an escrow reconciliation. I tried to resolve with XXXX. However, they never resolved the issue after I sent them multiple RESPA requests. They subsequently sold my mortgage to LoanCare. My mortgage was then sold to LoanCare/XXXX XXXX. I requested the escrow error to then be corrected by LoanCare. I have requested this 4 times. Each time with a denial that did not fix the escrow error nor made any sense based on the status of my account. It seemed that picking any reason to deny the requests was the only action taken. No investigation into the documents or information provided. Each denial made no sense in respect to the information I provided or the current status of my account. Since, I made no progress on fixing the escrow error. I then requested that I be able to pay my taxes and insurance myself. Which would also eliminate the overcharges on the escrow. The last denial from LoanCare stated that my loan to value ration did not yet exceed 80 %. This is also in error. My loan balance is {$190000.00}. The original loan amount was XXXX. My house currently appraises for minimally {$330000.00}. XXXX and XXXX at $ XXXX. Either way, I meet the criteria to pay my own escrow. Its very frustrating that I can not get this fixed. My escrow account will be ~ {$8400.00} when the next payment of taxes due XX/XX/2020 is {$3900.00}. I am being forced to pay a monthly over payment on escrow of {$310.00}. This is my last step in trying to resolve this situation before filing a claim in the Michigan courts. I have tried to resolve this over 7 times between XXXX and LoanCare current mortgage loan servicer. Please see attached spreadsheet and screen shots from my account. As well as the last denial letter for me to pay my own escrow. First, you can clearly see the escrow error. As it states what LoanCare has to pay for my taxes and the amount they are actually receiving. Regardless, I want to eliminate the escrow altogether. I want to pay the insurance and taxes myself. I have every right to. No payment has ever been late and my LTV is minimally at 61 % if not better. Included documents include spreadsheet showing escrow over payment backed up by screenshots from my Loancare account. Also included is documentation regarding how I never missed any payment.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 481XX
Submitted Via: Web
Date Sent: 2019-11-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-30
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: Loancare # XXXX is reporting lates in XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX that I should not have. I had paid this online and it showed that it went through when I did so, I did not know that the payments were not going through until I had my credit pulled and saw all the lates on my credit report. These lates are not my fault and they need to be removed off of my credit.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: UT
Zip: 84106
Submitted Via: Web
Date Sent: 2019-10-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A