LoanCare
Reviews and Complaints

I'd like to find out if there is a class action lawsuit pending against this company. My property taxes were overpaid in 2016 almost $2, 000. I informed them of the overage and sent a corrected property tax bill in february. It is not may and they have still not corrected my bill. They have raised my mortgage payment $250 a month to cover the incorrect property tax amount. Needless to say, I am struggling to continue to pay the additional $250 a month. Each time I call, I am told it will be processed in 24-48 hours. That is since february. I have not had a returned call from a supervisor yet. Each time I call I am told the sos>

Loancare was servicing my mortgage in 2014. They sold it to another company in March 2015, but when I went to refinance my mortgage in 2017, I found out that Loancare failed to take the debt off of my credit report. When I called them to have them take care of it, they put the monkey on my back, telling me I should submit paperwork to the credit agency disputing the debt. When I complained that this was their fault and they should take care of it, they asked me to submit an email to their customer service department to resolve. It is so annoying when companies don't do their job and then try to make you do their work for them.

Spoke with a customer service rep about cancelling PMI and whether a licensed appraisal would work. I was told it would as long as the person was Licensed for the state of the home. The appraisal was sent in and denied. I have been given the run-a-round and can't seem to get any answers other than "I'm sorry". WORST mortgage company I have ever dealt with! I'm repeatedly told someone will get back with me and they will never follow up.

I sent the letter 2 months ago to ask to remove PMI. Every time I called back they said my request is pending because it takes more than 10 business day, 20 business day, 30 business day. I just called earlier they said it's still pending and they don't know when I can have my PMI remove. Then I asked if you guys take a year to make decision then I have to wait for a year? The customer service agent said YES. ? They also said thier supervisor will give me a call back but no one call yet

I got my mortgage transferred to Loan Care 2 months ago and its been horrific. I've been paying my mortgage and they said that I'm behind and ive called them twice and they can't really explain to me why. Even my payment history says I've been paying it. They haven't fixed the problem yet and i refuse to pay that extra payment they think I've missed.

I have been trying to get the correct amount of quarterly property taxes to be paid and have not been successful.
After numerous attempts to resolve this, it has not been resolved.
It has been 4 weeks since i forwarded the tax bill to them from NYC Finance They confirmed they received it, but they did not pay the correct amount and it still has not been resolved. Customer service is horrible. It seems like no one is trained. They tell me that someone will call me back within 24-48 hours and this has been going on for 4 weeks. i have called at least 5 times since i have not heard a response and it still has not been corrected. Stay away from this LoanCare.

Worst company ever!
They charge twice a month that went over my budget and I have to pay the overdraft fee.
When I call their customer service they tell me to send an email and they will give me a ticket number and I have to wait to be call back.
Guess what, they never call back!
I don't how I end up with this loancare service company but i'm so regret for doing choosing them.
If you want to throw your money through a window, better give them a call. They are professional in it.
P. S: if you read this, I want my money back!

LoanCare assumed my mortgage in November 2016. I never received notification from LoanCare, nor my former carrier Stonegate that my mortgage had been moved. LoanCare failed to pay my 2016 fall taxes by the suspense date. Then on 1 Apr 17 I authorized a one time withdraw for $797.95 from my checking account for my Apr payment. They took $800 even. $2.05 extra is no big deal, but how can they take more than I authorized? Then on 3 Apr 17, they attempted to withdraw another $797.95. The transaction was denied and I received an insufficient funds charge because there wasn't enough to cover the withdraw. Luckily my credit union recognized that this was an error on part of LoanCare and they reversed the insufficient funds charge. I called LoanCare and they admitted that they had a glitch in their system and it would be rectified immediately. But low and behold, on 7 Apr 17, without my approval, they withdrew another $797.95 which drained my account. Also on 7 Apr, additional withdrawals that I authorized hit my account taking me into the negative almost $300. And I incurred $90 in insufficient penalties. Unfortunately I did not discover this until after business hours on Sat 8 Apr and there's nothing I can do until Mon the 9th. So now I have no way of purchasing fuel for my vehicle so that I can get to work on Mon, nor can I purchase needed groceries for my family until this is corrected. I am very disappointed that LoanCare is my servicing my mortgage. Do I have any choice? Can I request it be returned to my previous service provider? I think LoanCare should be held responsible for the inconveniences they've caused. I'm just an old retired Army guy and I don't have a lot of money for these big corporations to be messing with. I'm so frustrated. Anyone have any advice?

I was contacted by loancare back in october of 2016 and they presented themselves as working for flagstar. Both logos are on the introduction letter. The were offering me a payment about 300 dollars lower than my present. I bought it. I just wrapped up the closing on feb 28. At closing my payment was only 150 less than current and i called my rep who was working with me as i felt it was in error. I have emails attesting to this. He agreed and said it would be handled. I have emails. I am still fighting back and forth. My whole reason for refinancing was to get my payment less by 200. I stated this from the start. To push back my loan for 9 more years for 150 made no sense to me. They have researched their poor little fingers to the bone and i am very sure that it was all bait and switch. I wish i would have read the reviews prior i would have never. Ever. It seems simple to be, modify your loan. If there is a class action out there please call me> this company needs to be shut down. I have contacted everyone in my state government and hopefully they will be banned here shortly. Do not do business with these people it seems that this is their business plan. Servicelink is the owner i believe and they have bayview loans, and a few others. All "the same. Call fannie mae and your state senators. Do not stop

I do not like loan care, they change automatic, I sent many times by mail my insurance policy and the lady to ask the brittany phillips and she does not know about home insurance. She told me that I sent life insurance (Impossible) when I said what page show life insurance she does not respond and say that is eligible, I sent the originals of the insurance policy, is impossible that is eligible. I already paid my insurance and I sent you 4 times the originals by mail. Policy number [protected] state farm please more seriosly!
This is the worst company for handles loans!

Along with our mortgage, all of our taxes are through our loan with Loan Care. Loan Care is to be distributing school taxes, county taxes, etc. However, I received a "delinquent" notice from a law firm accusing my husband and I of not paying our school taxes the prior year. I've called Loan Care twice, I've emailed them two times and the money still has not been disbursed.

I should not have to follow up with our mortgage company to do something they are responsible for, per our contract. There needs to be more accountability and timeliness with Loan Care, overall.

Since my loan was transfer to this company it's been a nightmare they starting by trying to refinance my house 6 moths ago. Which i never heard from them again. When is time For them to pay my home insurance they dont want to do it. They said the scrow account is in hold because of the refinancing process i end it up paying my home insurance AGAIN out ofmy packet. One week later I got a leter saying they don't have the updated insurance information and they want me to pay their insurance which is $1300 more I keep calling them I spoke to customer service they said they updated it. I also send the new insurance policy through email I downloaded it in their website and they're still saying they haven't get it just to forced me to get their insurance... please help me

Since November 2016, I have been dealing with nothing but individuals for Loancare that do not do what they say their going to do. Loancare decided that they were going to charge me almost $6900.00 for flood insurance. First of all one would like to think they have access to the grid maps and information on properties to show if or if someone is not in a flood zone, it is public record. So that began the company not doing the job and trying to force insurances on people. They said I never responded to their request of documentation that I don't live in a flood zone even though I have confirmation that on the 4th of Nov. I faxed the document to who they told me to and the confirmation stated it went through successfully. So once again someone with loan care did not do there job.
Now thinking this is all taken care of I go about my life. I received no communication from them stating they have not received anything or heard from me on the flood insurance document...No contact at all - Great Customer Service.
I get my bill in Jan. 2017 and it stated that I owed over $2900.00 in my mortgage payment. They charged the $6900 flood insurance to me without telling me, checking with me, nothing, again Great Customer Service - and a nice way to attempt to screw their customers. I began my phone calls on the 3rd of Jan. to clear this up. I had to resend the FEMA document again and was told I would receive a call in 7- 10 days, did I get that call, of course not even though I was told I would, Great Custome4r Services. I had to call back and things were still not settled. by this time I had spoken with 4 different incompetent people. The I got to a supervisor, maybe, one will never know and I was told I would receive a call at 1:15 pm and then again in the evening to discuss payments and resolutions. Did I get either call, why of course not, Great Customer Service. I had to initiate all calls. I finally talked to several people on 1-18-17 (Howard to be exact at 11:14 mountain time and he told me that the flood insurance has been removed and they would be figuring out my payment. He said it would be FEB. 2nd, I said unacceptable and he talked to someone and said I would get a call in 72 hours with my new monthly payment. 72 hours for the 18th of JAN. would be like the 21st or business days the 23rd. Guess what another employee full of it. I never got a call, Great Customer Service. I had to call today 1-25-17 to find out my new monthly payment and then make the payment over the phone.

I would lover to talk to the President of this company and let him know how pathetic his customer service department is. I have never dealt with people that blatantly lie to you over the phone, tell you one thing and then do nothing, cause tons of issues that could easily be resolved.
This is the worst customer service that I have ever, ever had to deal with. I think this company needs to look at some significant training on how to work with people and not lie to them. They could really use some good customer service training. All the people I talked to in 3 months (11) not one really was any good and this includes supervisors I supposedly talked to.
Horrible company
-Andrew

My loan was sold to LoanCare LLC and in the mean time I refinanced the loan back to the original company. LoanCare has been holding the money from my escrow account for over 2 months, with no answers, and no results for getting me my money back. Everyone tells me something different. The manager wasn't even able to get things taken care of. For the longest time they couldn't even track where my money was in the escrow process.

We had our original loan with Loancare and had no problems. When we refinanced we (with Loancare) were told not to make a mortgage payment for the next 2 months. Made an additional mortgage payment in error. Called and spoke to 4 different representatives and was told that it would be returned to me. It was not. When first payment was due on new loan, I called and was told that the extra payment made on the old loan would be transferred to the new loan and we would not need to make the very first payment. A month later and about a dozen phone calls later, we finally are told that the Escrow refund check we received 3 months ago supposedly included the extra mortgage payment we made in error. Now our mortgage payment is late and we now owe 2 mortgage payments. Bottom line: #1. They like to "Pass the Buck". #2. They are unconcerned that they have representatives working for them who have no problem with providing false information on a recorded line. #3. They are unwilling to rectify a bad situation that they caused.

We refinanced our house 75 days ago. By law you get a refund on overpaid escrow within 90 days but rule of thumb is 30 days. 15 more days until I get to sue the pants off of this joke of a company. They've cut me 3 checks so far 2 of them "next day" to me and not a single one has made it to me. The people on the phone are ghetto and rude. It's like talking to an uneducated 13 year old middle school bully, they have a rebuttal and excuse for everything! No clue how they've stayed in business. If your mortgage company sells your mortgage to them insist on it being someone else before they bend you over the way they have so many others!

I have noticed multiple people are having issues with loan care. I have had a major one myself and I am in the middle of a legal battle for my home they stole six months worth of my money on and cost me a years worth of money because they did not follow procedure. They have caused major issues on two of my homes. I am interested in anyone that is in the process of a class action lawsuit or interested in one. Please contact me because I am interested.

I refinanced with another company and paid off my loan to Loancare in full. They still took a mortgage payment out after this with the "autodraft" feature, and now I get to wait 3, 15, or 20 business days for a refund, depending on which customer service representative I speak with. Apparently it takes a week just for them to even look into the issue. Glad I waited on hold for thirty minutes to find out that I can write a letter to request the payment quicker, but "by then it won't really make a difference time-wise".What a joke. Avoid this company like the plague, and be terrified if your mortgage gets sold to them.

They purchased my mortgage and because I could tell early on they were so horrible, I refinanced away from them within 4 months.

1st payment due in Aug - sent. 3rd week of Aug I get a call saying they didn't receive, I send emailed proof of payment, they say they'll research & get back to me in 48 hrs, they don't.

~1 week later - I call, they are researching
~1.5 weeks later (late Sept) - I call again, we go back and forth since they misapplied Sept pmt to Aug now and stopped researching. I sent more proof of Sept pmt via email. They say they'll get back to me in 48 hrs, but again don't.

1st week of Oct - they credit my bank acct electronically for the Aug lost pmt, so I send off right away. They now received 2 payments in Oct (my Oct pmt & my resubmitted Aug pmt).

They report me as delinquent on my credit in Oct. Throughout the whole process I called and emailed, but never get a response. When I call, the agents assure me it won't be on my credit. Now that it is and I call, I get put on hold and the line disconnects. Not once, not twice but 5 times in 1 day. That doesn't seem like a coincident. Agents tell me they'll call me back if the line disconnects - they don't. I can't speak to anyone in the Credit department so I'm at their mercy. In the mean time, I'm losing my rate, my earnest money and the home that I made an offer on. The emotional turmoil of being on the phone for hours, being hung up and getting no answers is beyond words.

They need to be investigated. They don't communicate with customers about their accounts, they don't have answers about things happening on accounts, and they leave mortgage holders feeling like victims. They have the upper hand and so there is nothing I can do but wait, even though I've done everything in my power at this point to communicate and prevent this issue.

I sent in a $2000 extra escrow payment weeks ago. The check was clearly marked that it was to be applied to escrow. I also included a note stating that the money was to be applied to escrow. What did they do? They applied to principal. I sent them an e-mail asking them to correct it. I attached a copy of the cleared check with the escrow notation on it. So far, nothing has been done. There is absolutely no excuse for this error - none whatsoever. There is no excuse why this wasn't corrected as soon as they received my e-mail. This is beyond sloppiness. It's pure incompetence.