Mortgage -- Trouble during payment process -- Complaint #4731303
Complaint Overview
Complaint ID: 4731303
Company: Loancare, LLC
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: California
ZIP Code: 90638
Date Received: 2021-09-17T12:00:00-05:00
Date Sent to Company: 2021-09-17T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XX/XX/21, I received a call from Loancare, who is tied to XXXX XXXX XXXX who made the loan and did not sell it to anyone else, about my account payment being late. I was told by the robocall to call the number they were calling from. Odd, but I called back and got a person. The lady informed me my payments were late. I was paying biweekly and was well within the timeframe of both payments before the XXXX of the month. She was able to fix it and put a note in the file that this would be happening regularly from me for my account. The " extra '' funds were originally applied to the principal, but were recalculated to be part of the loan 's regular payment. I found out later that the funds were only applied as the later payment, and no benefit from " paying early '' would be seen. So, I felt the issue was resolved. Jump ahead to today, XX/XX/21. Same deal, robo call to call back. Called back and got the person to fix it. Then I asked how this can be fixed permanently as I will be continuing to pay biweekly. She informed me that they do not allow that and the system can not support that. As a web infrastructure engineer, I let her know that this was a choice by her company not to support this method of payment. She asked me to ask my bank to group them into 1 payment which XXXX stated they were unable to do. I asked her to escalate this request to her software " Tier 2 Support '', a common support request in web application support. She refused and said they will not be supporting biweekly payment options. I said I would continue to lobby for this and we ended the call amicably. The details have not been fixed on the site. Why do I care about biweekly? A : Pay less interest and B : make sure the necessary funds are removed at the point that they are available in case I need the later paycheck for other needs. Basically, for my convenience. Why would Loancare not do this? They do not want less interest paid to them and/or to do the work of reamortization of the loan payments in what would be an otherwise amicable transaction. Loancare does not care about their financially informed customers and chooses to do this. If they need a qualified web engineer to show them how to do it, please call me. Pro bono consultation! I just want this fixed and they refuse to do so.
Frequently Asked Questions
What is Complaint #4731303 about?
Complaint #4731303 was filed against Loancare, LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2021-09-17T12:00:00-05:00.
How did Loancare, LLC respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Loancare, LLC?
Yes, visit the Loancare, LLC company profile at readthecomplaint.com/company/loancare-llc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.