Date Received: 2019-03-20
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Our mortgage is serviced by XXXX XXXX XXXX , XXXX, also known as Loancare. Loancare states they sent notice via mail that our escrow payments were to increase beginning inXX/XX/2019. We did not receive this notice, nor did Loancare contact me ( they may have tried to contact my wife, but I have repeatedly advised Loancare I am the primary point of contact for this account ). We sent our XX/XX/2019 payment in on time. However, this payment did not include the {$63.00} increase in our monthly escrow payment. We received a rather confusing notice form Loancare, where there was a claim our payment was late, but it also appeared it had been credited. Later in XXXX, I received notice from a credit monitoring agency that Loancare was reporting our payment as late. This is incorrect. I reached out to Loancare after receiving this notice, first by phone, then by email after being informed my wait time on hold would be more than an hour. I eventually called again, and spoke to a representative, who informed that, because of the difference of {$63.00}, my payment was being reported as late, and a late fee of {$100.00} was being assessed. A late fee more than 60 percent higher than the amount in dispute is, frankly, absurd on its face. I immediately paid the {$63.00} shortage, and disputed the late fee. I also arranged for a supplemental payment of {$63.00} for my XXXX bill to go out, and arranged for future mortgage payments to include the additional {$63.00} payment. Today, I received a terse email from Loancare stating they would not eliminate the late fee because it had previously waived a fee. Now, not only do I have a late fee, this has been reported to credit bureaus as a late payment, which has caused my credit rating to drop more than 70 points.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AK
Zip: 99801
Submitted Via: Web
Date Sent: 2019-03-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-20
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I submitted a request to LoanCare, my loan servicer, to have my PMI cancelled in XX/XX/XXXX due to an increase in my property 's value. The loan servicer had a broker, XXXX XXXX, contact me to set up a BPO. He asked me to send him photos of my property but said not to discuss that with our loan servicer. He said he would come out to visit the property later that day. He never came. Clearly XXXX has a conflict of interest, as he is employed/contracted by the loan servicer, not the property owner, and so it is in his best interest to create the lowest possible property valuation in order to prevent homeowners from cancelling their PMI and continue receiving business from the loan servicer. Should he produce valuations that are " too high, '' even if accurate - we live in Southern California, one of the hottest real estate markets in the country, and it's clear that home values have skyrocketed over the last few years - perhaps the loan servicer will no longer use his services. So, he comes up with low estimates in order to keep his boss happy. This is a fraud upon the customer and a disgrace to our mortgage system. After a few months I received a denial of the request, citing that our property value had actually declined in value. This is impossible. First, a house down the street from us that is smaller actually sold for the same price our home did two years ago ; thus, even if our home hasn't increased in value enough for PMI cancellation ( which it has ), it's clear that our house HAS increased in value, and so XXXX 's claim that our home value actually decreased since purchasing is simply untrue. Second, we produced a comprehensive list of comparables in the area. It was evident XXXX only used the lowest comparables in a certain geographical area in formulating his fraudulent valuation. on XX/XX/XXXX, my husband submitted a complaint to the loan servicer and he provided them with our list of comparables that we obtained from a real estate agent. On XX/XX/XXXX, we received a form response that the complaint was being investigated. On XX/XX/XXXX, my husband requested an update about the status of our request. On XX/XX/XXXX we received a response requesting a letter with comparables in addition to the comparable properties on the BPO to support our dispute. Note that we had already provided this information on XX/XX/XXXX. In any case, we again provided this information to LoanCare on XX/XX/XXXX. In response, we received a form response indicating that our request was being researched. On XX/XX/XXXX we requested an update and received another form response that our concerns were being investigated. On XX/XX/XXXX, we requested an update and received another form response, but this response indicated that " a detailed written response will be sent to you no later than 30 days ... from the date LoanCare received your complaint. '' However, our complaint was clearly submitted in XX/XX/XXXX and now the servicer is acting as though this is a new complaint. It is not. LoanCare is clearly outside of the 30 day time frame to resolve this matter or offer any reasonable justification as to why it has not yet been resolved. We have not been provided any updates as to the actual status of our complaint, after multiple attempts on our part. Not only was this BPO produced fraudulently, but LoanCare hasn't done their required due diligence to respond within applicable statutory timeframes.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 90806
Submitted Via: Web
Date Sent: 2019-03-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-20
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: LoanCare has gone out of it's way to perpetuate an increased delinquency in my account for no reason. In early XX/XX/2018 I lost my job for a short period of time. I called LoanCare, they claimed to want to work with me. Because I had fallen behind they locked my online access to my account, I called repeatedly requesting my monthly statements be mailed to me. I never received them! When I returned back to work in XX/XX/XXXX I began making weekly payments. All of the sudden in XX/XX/XXXX I get a statement telling me I'm in danger of going into foreclosure for non payment. All the weekly payments I had been making were placed in my escrow account. I was never notified that this was happening. I called on several more occasions requesting how to have my payments re-allocated. I was told by 3 individuals to email the customer service department and they would be able to help me. I received nothing more than the standard email acknowledging the receipt of my email request. No matter how many times I called for an update, I got told I submitted my email request incorrectly. Finally after the third attempt I was told that it is IMPOSSIBLE for my payments to be reapplied and furthermore there was no money left in the account after all the charged fees had been removed. I have had over {$4000.00} in fees removed from my escrow for lawyers, appraisals and court fees without my approval or knowledge!! My last 2 payments for the year were accepted as full payments but put into a suspense account due to them placing my account on a hold causing my account to show no payments for 6 months. I had {$14000.00} in payments withdrawn from my account on {$16000.00} in mortgage payments due for the whole year. Yet, my account has been put into foreclosure, my credit is ruined and the only conversation they are willing to have with me is to do a loan modification. They will not provide for me a detailed payment application file. I filed the modification paperwork because I really didn't have a choice. While I was waiting on the approval/denial I received a letter stating that I had over $ 4K in overage in my escrow account but they were refusing to send it back to me due to my account being delinquent. It was deemed that I qualified for a loan modification, however they want to jump my interest rate from 4 % to 4.875 % which causes my payment to increase {$130.00} a month and add over $ 9K to the back of my loan. I can't afford that! I have yet to receive the requested payment receipt report from them to match against my records. No one is willing to give me a straight answer as to why my payments were allocated the way they were and why my account was placed into foreclosure.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 145XX
Submitted Via: Web
Date Sent: 2019-03-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-20
Issue: Trouble during payment process
Subissue:
Consumer Complaint: We called loan care the evening of Tuesday, XX/XX/XXXX spoke with one supervisor and two people in the escrow department and one in the insurance department. What happened with our escrow analysis was that it was ran in XXXX as a normal however our insurance company had only sent the XXXX page electronically to them. Loan care treated this as a bill in the same month of XXXX when the hazard insurance was not due until XX/XX/XXXX. Obviously this created a large short fall of our escrow as well as the projected difference for next year as well as the increase in taxes. The total short fall for XXXX should be less than {$200.00}. XXXX hazard insurance amount was {$1000.00} and in XXXX it was {$1000.00}. That is a short fall of {$32.00} for hazard insurance. Taxes in XXXX were {$2800.00} and in XXXX they were XXXX for a shortage of {$150.00}. Total shortage should be {$180.00}. We tried talking with a gentleman in escrow department named XXXX who told us that we can not have a new escrow analysis ran nor could we pay the difference on the new insurance alone. We have asked for a breakdown multiple times of the shortage and nobody is able to provide us that break down. We would just like a new escrow analysis based upon the due date in XXXX for the renewed insurance policy that was paid early on loan cares part or give us a solid number what he shortage of the Insurnace alone for the renewal in order to correct our monthly escrow. Its important to note that every individual we spoke with including the supervisors were unhelpful and unwilling to help claiming that it was not their department or they couldnt run numbers without us sending additional money to deposit in the escrow account and said they did not have access to any of the documents that pertained to our loan for our request. Also the my seem bound and determined to make the customer feel wrong and that there is no solution
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: KY
Zip: 405XX
Submitted Via: Web
Date Sent: 2019-03-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-18
Issue: Trouble during payment process
Subissue:
Consumer Complaint: See previous complaint ( XXXX ) for background details. After 2 1/2 months of back-and-forth with LoanCare after they first accused us of having insufficient flood insurance, then reviewing our policy and realizing our coverage was more than sufficient, only to continue threatening force-placed coverage on us that we didn't need, we received a letter from the Office of the Customer at LoanCare on XX/XX/2019 assuring us that our flood insurance policy is sufficient and that all threats to force-place coverage on our behalf have been cancelled. However, one week later, on XX/XX/2019, we logged into our account to find that it had once again been flagged as having insufficient flood insurance coverage and threatening us once again. We have received countless letters in the mail harassing us about this issue and each time we call LoanCare, speak to resolution specialists and managers in the flood/hazard department, only to be told, " Oh yeah, your coverage is more than sufficient, we'll cancel this right away. '' Then why does this keep happening? Our coverage and policy have not changed at all during this entire ordeal, so we have no idea what the problem is. We are also aware that LoanCare settled a class-action lawsuit two years ago for this very issue, so it is appalling to see them as a company trying the same tactics when they've been called out on this issue before.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 95835
Submitted Via: Web
Date Sent: 2019-03-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-18
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Hi, I sent payment to LoanCare Mortgage via my XXXX XXXX on XX/XX/XXXX incorrectly. My mortgage with LoanCare was closed in XXXX. I was supposed to make the payment to XXXX XXXX. I called LoanCare Mortgage on XX/XX/XXXX to inquire about the payment and spoke with XXXX. She indicated the payment would have been " rejected '' and to call my bank. I spoke with XXXX on XX/XX/XXXX who indicated it was an electronic transfer of funds and the electronic transmission was successful indicating LoanCare received the payment on XX/XX/XXXX. I attempted to contact LoanCare Mortage again and was on hold for 12 minutes before speaking with XXXX. She is indicating the payment was not received.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: OR
Zip: 97304
Submitted Via: Web
Date Sent: 2019-03-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-15
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Loancare LLC purchased my loan from XXXX XXXX under the same terms, our monthly mortgage payment was {$770.00}. This month it has gone to {$940.00} when I called to find out what was going on I was told taxes in my county had gone up, our payments for two months would be {$940.00} then {$870.00} every month. Raising our payments $ 1300 yearly. I contacted our county regarding this ; our taxes in this county have not gone up for over a year and it certainly wouldn't make it XXXX more a year. I called Loancare and asked to speak with a supervisor XXXX told me the same story until I told him I had contacted the auditor and this was untrue ; then it became and " estimation '' of what taxes we could pay in the future but we would have to pay now. When I declined we are not paying for an estimation we are not using it became we owe " back taxes '' they weren't pulling out our taxes and now we needed to pay that. When I asked what happened to the money we were paying the taxes with they " needed more ' even thought they were never raised. I tried to make a payment in the amount of {$770.00} until this was sorted out is not able to online or automated payment phone system requires the full amount. I tried to pay over the phone with an agent was told they don't accept partial payments and there is a {$15.00} dollar over the phone fee plus now a {$10.00} late fee making our payment {$980.00} due now. They have no basis for this increase and every story they have given me is untrue now my mortgage is going to be late.
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: 2019-03-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-14
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I am trying to get PMI removed from my mortgage. My mortgage company is XXXX XXXX XXXX XXXX XXXX. My home purchase price was approx 200,000.00, Property value at time of purchase was XXXX. Now my property value is approx XXXX with a principle loan balance of approx XXXX, which makes my LTV approx XXXX. I have followed the instructions from my mortgage company and submitted my requests in writing, but I have not gotten any responses.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NV
Zip: 89129
Submitted Via: Web
Date Sent: 2019-03-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-14
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My issue is in regards to my escrow account and an increase of my monthly payment. My monthly payment is increasing from {$1000.00} per month to {$1100.00} effective XX/XX/XXXX. I do not understand why this is the case because the numbers simply are not adding up. First off, my property insurance decreased from {$2700.00} on XX/XX/XXXX to {$1500.00} on XX/XX/XXXX. To account for that difference, I received a refund from my insurance company which I then put into my escrow account in the amount of {$1600.00} on XX/XX/XXXX ( total mortgage payment that month was {$2600.00} ). Also, my annual property taxes only increased {$16.00} from XXXX to XXXX. Considering the significant decrease in insurance and only a minimal increase of the property taxes, it does not make sense that I now have a $ XXXX/month increase. Also, there are several other escrow advance payments and repayments that are showing as taken out each month that I never authorized and should not have been taken out of my escrow. The only items that my mortgage payment should consist of are the principal & interest, property insurance, property tax, and the PMI. In addition, there are several different amounts listed for the escrow shortage. In one place, it says the shortage is {$270.00}. In another spot, it says the shortage is $ XXXX/month. The actual escrow balance shows as {$0.00}. So once again, the numbers are not consistent or adding up. And even if the shortage amounts are correct, it does not amount to an increase of $ XXXX/month of my monthly mortgage payment amount. Furthermore, the PMI is another issue. The year to date shows that {$390.00} has already been taken out for the PMI. However, the monthly breakdown shows only {$17.00} should be taken out each month. So once again, the numbers are not adding up. I normally receive notification in the mail explaining any increase in my mortgage payment, but I did not receive any notification or correspondence regarding this as I have in previous years. I contacted LoanCare and they stated the escrow analysis was later than usual, but I should receive notification by the first week of XXXX. I never received anything. I contacted the company ( LoanCare ) again on XX/XX/XXXX to clarify why the payment was increasing so significantly and why I hadn't received any notification. There was no clear explanation given as to why I didn't receive notification. In regards to the payment increase, I was told the first time by XXXX on XX/XX/XXXX that the account was being marked for a 2nd look/reanalysis and to call back the next week. I called back to follow up on XX/XX/XXXX and spoke with XXXX who stated once again that the account had been marked for another look and to allow more time for the account review/reanalysis to be completed. I contacted the company yet again on XX/XX/XXXX to follow up and was supposed to receive an email explaining the rationale behind the $ XXXX/month payment increase. The document I received was already accessible online and did not provide any explanation in regards to the payment increase. The bottom line is, I need a clear answer as to why the numbers are not adding up and why my payment is increasing $ XXXX/month. Several unsuccessful contacts to the company have been made regarding this and each person I have spoken with has told me something different regarding the numbers. One person I spoke with on XX/XX/XXXX ( XXXX ) even said there had been no escrow analysis done since XXXX?? Attached are some documents I was able to obtain from the company website as I did not receive an annual statement for XXXX. The documents will further illustrate the discrepancies previously mentioned. This has been a big hassle and extremely frustrating process. Any help in receiving further explanation/clarification regarding this issue would be greatly appreciated.Thank you in advance for your help!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: OK
Zip: 73132
Submitted Via: Web
Date Sent: 2019-03-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-13
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: LoanCare LN XXXX XXXX XXXX XXXX, XXXX HI XXXX XXXX XXXX XXXX XXXX and XXXX XXXX XXXX On XX/XX/19 I spoke with rep XXXX XXXX. She was obviously either drunk, is mentally unsuited for her position at LoanCare, or is mentally handicapped. She lacks the cognitive ability to listen and respond to simple questions. Additionally, I had to repeat my last name with spellings to her over 7 times. In the end she claims she still could not understand my last name, even though it is one of the most common last names in the United States. She therefore refused to send a message to the processor asking them to call us back. XXXX XXXX has neither the knowledge, training, nor mental capacity to do her job. Most of my conversations with LoanCare employees have been similar. It is clear that LoanCare does not have the capacity to appropriately service their loans, they do not train their staff appropriately, and they do not provide a work environment suitable to fulfill their servicing obligations - their staff regularly complain they can not hear who they are talking to because their environment is loud and echoes. I want LoanCare fined the maximum of $ XXXX for gross incompetence and purposeful neglect of their servicing obligations. Then, when I got a call back from the assigned processor she sent me a copy of what was sent to the borrower. See attached Mail from LoanCare. Is this REALLY the kind of mail they send out???? Not only is it completely unprofessional, but they are asking for documents that we have not only already sent to them multiple times, and also documents that are ABSOLUTELY NOT RELEVANT TO A SETTLEMENT AGREEMENT. It was made very clear multiple times in every conversation I had with LoanCare that the homeowner wants to do a SETTLEMENT not a short sale, not a sale, and not a loan modification. I want LoanCare fined the maximum of $ XXXX due to gross incompetence. I want a response to the settlement offer submitted by the borrower. I want the stupidity and excuses to stop.
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: 2019-03-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A