Date Received: 2019-07-29
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Loancare LLC apparently had a policy change this spring that they did not notify me about, where they now only accept one payment a month. I had been making half payments every two weeks for over a year, so when this policy went into effect, it caused one of my half payments to be applied to my loan principal, and subsequently for my account to become delinquent. I noticed this XX/XX/2019 and it took six phone calls over six weeks to get this resolved on XX/XX/2019. Loancares phone system is always overloaded with higher than normal call volume, and wait times always seem to exceed an hour. The times I have opted to give them a phone number to call me back when the next agent is available, I have never received a call back. At this point, I estimate I have wasted around 12 hours on the phone dealing with payment issues, where Loancare has messed up either misapplying payments, or losing payments. I will definitely be monitoring my account each month from this point forward. Since I have not owned my home for very long ( 18 months ), I can not refinance at this point without raising my interest rate and payment, so this is not an option for me at this time to get away from Loancare. As soon as it makes sense financially, I will be refinancing. Here is a history of my issues/calls from spring/summer XXXX. XX/XX/XXXX call - the representative told me my XX/XX/XXXX half payment had been mis-applied directly to principal, and they would get it reversed to be applied to my payment. XX/XX/XXXX call - the representative told me their system changed and only accepts one payment a month now, and this is why my payment went directly to principal, and they would get the XX/XX/XXXX half payment reversed and applied to my payment. XX/XX/XXXX call - I called again because the payment had not been reversed. I was told the representative couldn't tell me why it had not been done yet, but they would get it done. XX/XX/XXXX call - I was told the matter would be escalated to a supervisor because this representative couldn't tell me why no one could get the payment reversed. I was told it would take 1 or 2 days to get the payment reversed with the supervisor, and to call by XX/XX/XXXX if it had not been reversed. XX/XX/XXXX call - the representative said she could not escalate or help me, because it was already escalated to the supervisor level. I asked to have a supervisor call me on Monday XX/XX/XXXX, because every time I call, their phone system says they have high call volume, and wait times are greater than an hour. The representatives response to me was, " You got through pretty quick today, didn't you? '' That was completely unprofessional, and the supervisor never called. The payment was actually reversed on XX/XX/XXXX though. As of XX/XX/2019, my account still showed as past due, and my XX/XX/XXXX full payment had not posted as of XX/XX/XXXX. This electronic payment came out of my bank on XX/XX/2019, and was supposedly to LoanCare on XX/XX/XXXX. I have never had a payment take longer than 5 days to post, so I called them again, twice, on XX/XX/XXXX. Once again, the automated system said they have high call volume, and wait times exceed an hour. I put my number in for a call back each time, with no call. This isn't unexpected, because no one ever returned my calls when I was dealing with my first issue from XXXX to XX/XX/XXXX. I called promptly at XXXX on XX/XX/XXXX, and a representative picked up right away. I asked why my account still shows as past due, and she looked, and said I'm not past due. I asked why the mobile app and website shows me as past due, and she couldn't answer that question. I then asked if they had received my XX/XX/XXXX payment, and she said they have not. She told me to send proof of payment to their payment research department, so I did that and provided her the tracking number the system sent me. She then said the issue will be investigated and resolved by XX/XX/XXXX, and to call back if it has not been resolved. XX/XX/XXXX call I had a voicemail from Loancare, which said they were calling to touch bases with me. I called them back, and the representative said they were calling to let me know the misapplied funds had been credited to my account. I already knew this, but asked why the website and mobile app was still showing me as past due. The representative said it shouldnt be showing that, because I was not late at this point. I then asked if they had found the {$900.00} payment, and she said they had, and it was credited to my account. I checked the website and mobile app daily on XX/XX/XXXX, XXXX, and XXXX, with still no indication they had posted the {$900.00}, so I was set to call Loancare the morning of XX/XX/XXXX. XX/XX/XXXX my account was updated with the {$900.00} payment. However, I was given no explanation as to what had happened, so I made a document inquiry through the website on XX/XX/XXXX asking, I noticed a recent payment dispute was resolved, and I was wondering if I could get information as to what happened. My payment was " lost '' for a couple of weeks, and I would just like to know details about where the payment was, what may have happened, etc. I would also like to know if this could happen again in the future. The reference/ticket number is XXXX XX/XX/XXXX I received the following email, which does not address the lost payment issue referenced by the ticket ; but instead talks about the misapplication of funds yet again. It also addresses me as donotreply, which is very unprofessional and makes me think there is no attention to detail with this company. There are also grammatical errors in the response, further lowering my trust in this company. Reference number : XXXX Please use this ticket number in any correspondence with us. Subject : XXXX payment Dear donotreply, Thank you for contacting us. Attached is a copy of your account history. Please be advise part of your payment was misapplied to principal. We had to reverse the payment to apply it as a monthly payment. Please feel free to contact us if you have any additional questions. Sincerely, Customer Support XXXX XXXX XXXX XXXX XXXX, VA XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: VA
Zip: 24019
Submitted Via: Web
Date Sent: 2019-07-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-07-29
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Last month I received a statement stating I was late, behind in payments. I called and they had applied a payment to principle. It took a couple days but it had gotten fixed. well I thought it did. They took my next payment and applied it to that month. I have called 4 times now trying to get this fixed. I have even had a supervisor call me back it was supposed to be fixed by XX/XX/XXXX. It has not been fixed. When I call I'm on hold for over an hour. Which is not expectable especially when I have a job and cant afford to be off the clock for an hour. I have sent them support messages and have not received contact back in regards to this. They need to take my payment from the principle and apply it to XX/XX/XXXX's payment. I'm really worried they wont fix this and it's going to report to my credit I'm late. WE ARE NO LATE. Every time we call they say will fix it. Give us a couple days. I want it fixed now it has been over 20 days now that I have called 3 times this month. Currently I'm still on hold it's been one hour and 21 minutes.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: WA
Zip: 990XX
Submitted Via: Web
Date Sent: 2019-07-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-07-29
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Unbeknownst to me my original mortgage company, XXXX, turned servicing of my loan over to " Myloancare.com During the transition the last half property taxes were not paid. The new loan company apparently paid them and assumed that the tax rate had doubled and added more than 200 dollars per month to my payment. The taxes have not changed. I sent them copies of the XXXX County Ohio tax records that show the correct payment but I've had no response other than from their collection department. I have paid the actual amount of the payment due and told them, via email, that I would reimburse them for the taxes they paid or assume the escrow account on my own but no response. On my initial call I asked if I would be reimbursed the overpayment once they figured out their error and they said no. Now the only contact I have from them is threatening to foreclose on my property.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: OH
Zip: 45044
Submitted Via: Web
Date Sent: 2019-07-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-07-29
Issue: Trouble during payment process
Subissue:
Consumer Complaint: XXXX loan company went under and my loan was picked up by XXXX and assigned a loan number. I pay thru my bank monthly and on the XXXX of the month or the first bank day of the month.. I then received a letter from Loancare about my loan with out any other information and I gather assigned a new loan number. I paid my XX/XX/2019 bill to the first number and the same for my XX/XX/2019 bill only to receive notice that I hadn't paid at all. a call was made to XXXX and I found out that my loan was being handle by their other company Loancare. with this call I was told that all was straightened out and that they would report an error to the credit reporting companies. on Saturday I received a package from Loancare saying that my loan was in foreclosure and for me to fill out a certain form they sent me. I made a call to them asking to talk to a supervisor about this and was told they couldn't get one right away but I would be called back within an hour and I haven't been.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: OH
Zip: 43068
Submitted Via: Web
Date Sent: 2019-08-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-07-28
Issue: Trouble during payment process
Subissue:
Consumer Complaint: RE : LoanCare Acct # XXXX or XXXX Acct # XXXX A few months ago, LoanCare took over servicing my XXXX XXXX. Since this transfer, I have been receiving constant mail communications regarding my account being in default. In 1st week of XX/XX/2019, I spoke to a phone representative and confirmed with this representative and that they would take care of these issues. The representative stated that these were their transition issues and that they would take care of it and post my XXXX and XX/XX/2019 payment to my account. In early XX/XX/2019, I spoke again to another LoanCare representative only to have to repeat myself and share with them that the XXXX and XXXX payments were made and that the XXXX mortgage payment had already been paid as well. Again, they stated they would take care of this situation. My XXXX Checking is showing that payments have been sent and checks cashed in XXXX, XXXX, XX/XX/2019. I have contacted XXXX to investigate payments made and to contact LoanCare. I have requested in email and in mail writing to LoanCare on XX/XX/2019 to resolve these issues. The email address I used was customersupport@myloancare.com and I sent letters to 4 LoanCare addresses in XXXX XXXX and XXXX. I understand that these loan transitions from 1 company to another ( and not by my request ) can be complicated but this shows a lack of organization and customer care for customers. In the end, the consumer/customer suffers by having to resolve these issues with potential financial and credit bureau harm. Best regards, XXXX XXXX XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 92057
Submitted Via: Web
Date Sent: 2019-07-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-07-28
Issue: Trouble during payment process
Subissue:
Consumer Complaint: XXXX XXXX XXXX. Attempted to call as well as go online to their website to request a payoff amount for my mortgage. It is impossible to reach someone via phone ... I waited for over 45 minutes ... they have wait call times that are excessive, you get cut off and have to start all over again. I attempted to handle it via their website and have had no response from them other than they received my request and if I resubmit, it will only delay the process. I requested a payoff letter via email on XX/XX/2019. XXXX XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30728
Submitted Via: Web
Date Sent: 2019-08-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-07-27
Issue: Trouble during payment process
Subissue:
Consumer Complaint: This is insane. I already wrote this up and it went into the ether. I assume the XXXX Administration and XXXX XXXX in particular are trying to dissuade and hamper regular consumers from filing complaints against dishonest lenders. My lender, a company called XXXX XXXX a loan under a company called LoanCare. Misnomers all around. XXXX sold my loan to XXXX effective XX/XX/XXXX. I have paid on or before the due date since XX/XX/XXXX. I have phoned NUMEROUS times since my loan payment has not been credited, they say its in the system. I spoke to a loan representative on XX/XX/XXXX who told me that one of my payments had not be added to my account. And she assured me it was in the system and would be credited with in 5 days. So yesterday, I spoke to ANOTHER representative who said that XXXX had STILL NOT BEEN added to my balance. I told her that the rep I talked to on XX/XX/XXXX said it would be taken care of. ITS NOW 6 WEEKS LATER. I know the XXXX administration has tried to wreck you. But normal consumers need you! Vote DEMOCRAT if you want to keep your frigging jobs! In the meantime, can you help with this company that has no rules, no regulation, and is trying to ruin my credit? I have PAID them, they have my money. I have NEVER been late on payment anytime, anywhere, or for any thing. EVER. I have spoke with the reps st XXXX ( aka LoanCare ) and they keep jerking me around. I have PAID them, I have it documented from my bank account. They are crooks. And i am TIRED of trying to call them. PLEASE HELP ME. Thanks, XXXX XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MD
Zip: XXXXX
Submitted Via: Web
Date Sent: 2019-08-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-07-26
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: LoanCare LN XXXX XXXX XXXX XXXX # XXXX, XXXX XXXX CA XXXX XXXX XXXX Short Sale was started with XXXX on XX/XX/XXXX. It was service released to LoanCare XX/XX/XXXX. XXXX forwarded the ENTIRE package to LoanCare upon the service release. We emailed our authorization to LoanCare, per their request on XX/XX/XXXX. Today, they are still refusing to acknowledge our authorization. Additionally, they have done NOTHING on the file since receiving it from XXXX. -- -- -THEY HAVE HAD THE PACKAGE FOR ALMOST 30 DAYS AND HAVE DONE NOTHING!! -- -- There is no SPOC assigned. They are refusing to escalate this, management is refusing to speak to us, and we can not get a return phone call with a status on this. Aside from gross violation of their servicing guidelines, this is a VA BORROWER. Apparently LoanCare doesnt care about our military personnel. LoanCare doesnt care it is in violation of Federal and State Laws. LoanCare doesnt care it is in violation of their Servicing Guidelines. LoanCare doesnt care about CFPB guidelines. ******we are having issues on EVERY SINGLE ONE OF OUR LOANCARE FILES. LOANCARE has neither the knowledge, nor capacity, nor the personnel to service the files for which they are being paid servicing fees. This needs to STOP IMMEDIATELY. I want this file opened immediately as a short sale. I want a SPOC and negotiator assigned. I want the documents submitted to be worked on. CC : 1. OAG 2. XXXX XXXX 3. OCC
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: 2019-07-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-07-26
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: I have a mortgage on a home in NY. I am selling the home and have requested the original mortgage abstract / title search from the mortgage holder. I contact Loan Care at XXXX on Tuesday the XXXX of XXXX and was told I would receive the requested documents via email within 5 to 7 days. I called back on XX/XX/XXXX and was told that they meant 5 to 7 working days. I have called back today, XX/XX/XXXX and am now being told I must send in request in writing. Seems like a scam these companies play to force sellers / buyers to continuously have title searches done back the beginning of time.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33073
Submitted Via: Web
Date Sent: 2019-08-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-07-26
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: I am in process of refinancing and while I was doing the process my XX/XX/2019 payment is showing 30 days late. The issue I am having is that I had send a payment over the electronic pay however it never had gone through. The company is stating they never recieved. I called since the XX/XX/XXXX and once found out that they never got the payment I made a double payment immediately. I tried to talk to them and figure this out, but they would not understand and told me that the only way is to go through a claim. They dont see any record however I have no way of proving anything. I been in contact with them multiple times hours at a time. They always tell me different stories and they even drop my calls and I would have to recall them.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 48331
Submitted Via: Web
Date Sent: 2019-07-26
Company Response to Consumer: Closed with explanation
Timely Response: No
Consumer Disputed: N/A