Mortgage -- Trouble during payment process -- Complaint #5212338
Complaint Overview
Complaint ID: 5212338
Company: Loancare, LLC
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: Florida
ZIP Code: 336XX
Date Received: 2022-02-11T12:00:00-05:00
Date Sent to Company: 2022-02-11T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
In XXXX I was notified the my loan was being transferred from LoanCare to XXXX effective XX/XX/XXXX. I then received a letter stating the transfer was cancelled. I then received a notice that the transfer would occur effective XX/XX/XXXX. I was out of town in XXXX but when I returned I discovered that my automatic withdrawal for XXXX was not taken, evidently because the process of transferring the loan to XXXX in XXXX that didnt occur stopped the automatic payment. I then send in the payment which arrived arrived XX/XX/XXXX, was cashed by LoanCare and miss-applied by LoanCare to some other account. Multiple calls later that money was eventually located and supposedly refunded to me although the first check never arrived and the second check is in the mail 4 months later. I also received a bill from XXXX in XXXX for XXXX and XXXX which I payed so the loan wouldnt be delinquent. This week I was notified that I had a delinquent account in my credit report. Evidently LoanCare reported the loan as closed XX/XX/XXXX but 120 days delinquent. LoanCare was contacted and said it was XXXX problem. I contacted XXXX and they said they considered the loan up to date and had reported the same. Talking to the LoanCare service center again they stated this request needed to be made on line and that it was reported that way because I didnt make a XXXX payment even though LoanCare has had the money since XX/XX/XXXX. And the lack of payment was transferred to XXXX and payed there too! In contacting the LoanCare service center about both the refund issue and the Credit report issue they have been totally unhelpful. Ive been escalated multiple times and on multiple occasions been offered call backs from another level which didnt happened on 5 different occasions. Clearly a pattern of deception. They have used ridiculous excuses why they couldnt investigate my refund request. ( Copy of the check was a JPEG file, as was supplied by my bank, and not a PDF file so they couldnt open it. ) This excuse was used multiple times even after I sent it as a PDF. I advised them that they should hire new tech people. Im contacting the CFPB because I have little confidence that LoanCare will fix these problems unless pushed. Also, although Im fortunate to be able to float a mortgage payment for four months, I believe that is not the case for the vast majority of Americans and the company needs to be accountable and be forced to streamline their return process so some people are not forced into financial hardship through no fault on their own.
Frequently Asked Questions
What is Complaint #5212338 about?
Complaint #5212338 was filed against Loancare, LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2022-02-11T12:00:00-05:00.
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.