LoanCare
Reviews and Complaints

From Oct 20th - Nov...
I have had an unbelievably poor experience with Loan Care. I'm needing a Verification of Mortgage completed for one of their customers and I don't even know where to begin on how poorly they have handled it.

First of all, a written verification of mortgage can easily be completed within a day, it's only 8 SHORT lines of information that we actually already have...we just need it filled out by the company. It's been 2 weeks and I still don't have it. I've called almost every day leading up to this 2 week mark (after waiting to speak with someone for 30+ minutes every time) and no one gives me a straight answer. It was escalated a week ago and it was supposed to be completed and I was supposed to get a call from a supervisor each time I've called- obviously heard nothing. I keep calling and am told it's "processing". Then I call yesterday and I'm told they sent it to me but they didn't put the @ sign in my email - which basically doesn't even make it a real email address? She said I would receive it within 30 min - still no email 24hrs later.

So I've been sitting waiting for a customer service rep this morning for 30 min, finally get one and explain my whole story over again, he puts me on hold then disconnects me. I'm not kidding - I am furious. I waited another 30 min to get a customer service rep and I couldn't believe what she said - she told me that they never received a written verification attachment and that I would have to start over in the process. WHAT?! It's been two weeks and I've talked to 7+ reps who all saw my authorization and my attachments, and I've been told every single time that I will get my documents back by EOB so how could there not be attachments? She even saw in the notes that they tried to email it but sent it to the wrong email address, but didn't have an explanation for it and just told me "that's weird but there's nothing else I can do if I don't see the attachment"

Unbelievable, I'm now back to square one and couldn't be more appalled by their process. She even made me log another ticket. I'll attach a photo of my initial request WITH the attachment that she says wasn't there...

There's absolutely no accountability and this is one of the easiest requests we send out. I'm blown away by how poorly they handle something so small so I can't imagine how they would handle something as important as a mortgage. I hope the rest of you have better luck dealing with these people but from seeing the other reviews it's clear they are truly the worst.

My loan was sold to Loancare Servicing Center Inc. recently and it has been nothing but a disaster. They first got my home owners insurance renewal date incorrect so not only did I have to upload the invoice on their website, I had to fax it to them and then make multiple phone calls in order for them to send the check from my escrow account on time. Second thing, they sent me temporary coupons to make my monthly loan payments. The very first payment I sent them (with their coupon they provided) they put my check directly to the principle and not the towards my monthly payment. It has now been 21 days since I first notified them about their mistake. I was first told it would be corrected by October 9th. It is now October 18th and it is still not corrected. I have been calling on a daily basis, every time someone tells me it will be corrected by the end of the day. I also ask to speak with a supervisor. They obviously tell me that no one is available but ask for my phone number so someone can call me back in the next 24 hrs. Of course no one ever does.

I have had multiple home loans with other companies and have never had the problems that I am having with Loancare Servicing Center Inc. To anybody else that has a home loan, you should hope that it doesn't get sold to this company otherwise you are in for nothing but problems.

Like many of you on here my loan was sold (9/1/2016) to this company. To date they have yet to pay my propery insurance and i'm having zero luck getting in touch with them. I called and left vm's, sent emails and sat on hold many time. Currently on hold for 1:05hrs and counting. What recourse do we have? Is there a gov or state agency that can lean on this company? I jumped on my linkedin this morning and sent connect request to every senior leadership title in the company. I have perfect credit and have never missed a payment... Ever... Help

Write your senators. Write credit bureau associations to stop doing business with Service Link, owner of Loan Care. Above all notify all Better Business Bureaus ...which ironically is " updating " the rating of Loan Care as I type. No institutions in this day and age should ever charge for phone and on line payments. This is worse because payments go to a PO Box...zero accountability. Plus major complaints of Serve Link failing to pay local governments...so also write your county commissioners and state attorneys general.

This is the worst experience ever! My mortgage was purchased by loanCare Serving in July. The customer service is HORRIBLE instead of helping you they just put you back in the cue. A normal wait time is 20 to 30 minutes and I'm on my 5th time calling and still do not have my problem resolved.
Every month when I automatic deposit my mortgage payment they send the wire back to the bank by paper check with no explanation. When I call customer service they tell me they didn't receive my monthly payment and they didn't return the wire. when the put me on hold usually 10 to 15 minutes they don't come back it just goes back in the cue and you start over. I have record from the bank it was returned and Im done arguing as my mortgage is now 60 days past due. My previous company tells me I have 3 months get it straightened out until it affects my credit and it looks like it will take every last minute to get this fixed.
WHY DO THEY RETURN MY PAYMENT? 15 years with a mortgage and never had a late payment.
Who has time for this mess, I called yesterday and today to make them take payment by phone, but they didn't answer either time and I waited for 25 minutes both times. They say the have a automatic payment center but they don't you just go into forever hold. Still waiting for supervisor to call me back its been 5 days on that return call.
TAKE MY MONEY and stop mailing be threatening letters when I'm a A+ customer and you are the idiots.

For the last 6 months my husband and I have been disputing a "missing payment" that loan care never posted to our account. After submitting 4-5 bank statements (Because they said they never received them) and also the ach transaction from our bank showing this payment was indeed taken out and cleared our account we receive an email from them saying all is clear, account is current. Calling them once again to find out how we go about removing all the negative reportings they have filed against my husbands credit along with the 1, 200 in late charges, they proceed to tell us the dispute was never for 2015 it is now sept 2014. Only a couple of months after we closed on the house. So. I submitted the 9/2015 bank records and they will not accept them because they want something that shows what the balance was immediately prior to the mortgage payment being taken out and the balance immediately after. They are the worst mortgage company. My husband and I are looking into an attorney.

Do not use all of these private money lender here. They are located in nigeria, ghana, turkey, france and israel my name is margret buchan, I am from united state. Have you been looking for a loan?Do you need an urgent personal or business loan?Contact morris and company trust fund limited he help me with a loan of $800.000 some days ago after been scammed of $12000 from a woman claiming to be a loan lender but I thank god today that I got my loan worth $800.000. Feel free to contact the company for a genuine financial service. Email: [protected]@hotmail.com usa florida +[protected]

We have a mortgage with Freedom Mortgage but the Loancare handles the Insurance processing and loan servicing piece. We had an insurance claim for work on our roof and the current process now has the insurance check being sent to the mortgage servicing company and they disburse it out as the work is being done. Loancare has screw up this process every step of the way. Their negligence is potentially going to result in the contractor putting a lien on my house. First of all they lost the check and all my paperwork. Then when I would fax in documents they would continue to tell me they couldn't read this part or that name...which happened with every document. Then they promise to overnight the check to me because they had delayed the process a week by losing the check. When they did finally "say" they mailed out the check they didn't overnight it, but just dropped it in the mail. By this time it has been over a month since I sent them all of the paperwork and I have yet to see the first check to pay my contractor. They have purposefully delayed every step of the way on this process and I am beginning to wonder if they do not have some business to generate interest or other income off of people's insurance money so they WANTED to keep your money as long as possible.

I had a flood on 5/12. My insurance company was fantastic, came out the next day, assessed the damages and wrote me a check. The check was written out to Myself and Stearns Lending. Doing what I was told, I endorsed the check and sent it in with information they included with the "packet" the sent me. I have been going back and forth with them for one month now about the paperwork I need to submit. Each time it is something that they did not include in the "packet"

Now the bills are rolling in for the mitigation, furnace, hot water tank, and washer & dryer. These all need paid but LoanCare is holding their check as long as they can to make the little bit of interest off it they can. The customer service department has been nice but unhelpful. They are not allowed to email! So faxing slows everything down. I need my check ASAP and they are so unhelpful.

Unfortunately, we are at the mercy of LoanCare since they purchased my mortgage and all i can do is write a complaint on a board to let our my frustration. I will update in 10 years after I have to sacrifice my first born child to get the rest of my insurance check.

Until then,
Totally Disappointed.

We have had problems with this company ever since we bought our home in May 2009. They routinely refuse payments over the phone and don't return phone calls even if you ask them, when are you going to call back, they say, "tomorrow, " and they don't call. The only calls is collection type calls like when we were late on our payments due to the government shutdown. But they never told us they took out a huge hurricane insurance policy for $14, 000 and charged it to escrow. We have always had insurance from USAA, a very reputable company and we don't need more insurance for 5 times the normal cost. Plus, we found out they backdated it to spring 2012, and we only found out after January 1, 2014. Yep, almost two years later. No paperwork came to us demanding any change in our insurance until last Fall and when we got the notice, we called USAA and got the added insurance. One call, done.
Now about LoanCare, they decide when they will post payments, they decide what they will credit to your balance. We have paid for over four years and still no credit on our mortgage balance for our payments. Is this even legal? Well, we are seeking an attorney and will likely sue for damages, etc. They have affected us in every way, in every part of our life, because this is our home!

Stay away from this company. I asked about adding principal to remove my PMI and I go ahead and pay them for the appraisal and then request for the PMI removal.

I get a response back "We are unable to approve request. Your loan has not met the loan age requirement; which is the first requirement for your loan to be considered for PMI cancellation. Our records indicate that you have had the loan 10 months and investor guidelines require you to have 12 months of payment history. Once a 12 month payment history has been established your request for PMI removal can be resubmitted." .

So I wait and after my 12 consecutive on time payment, I resubmit my request. Denied again and then I am told that I need the following:

1. Your loan must be at least 2 years old and 24 consecutive payments with none being more than 30 days late, and...
2. I need to get a new appraisal($390) with a LTV of 75% or below

Needless to say, I'm not waiting and refinancing with another bank that does not flip flop when the need arises.

This is the worst and most incompetent organization I have ever death with over the last 2 years. The billing is never consistent... The customer service is worthless, the managers are worthless.. They do not return calls, they do not return emails.

I have had to contact the bank who uses them to get help, I am now dealing with it again, I do not get monthly bills... Then they charge me late fees... They need to be shut down!

I am mad as hell!

For over five years LoanCare has mailed us our bill so close to the payment due date that we knew to mail out the payment the morning we got the bill from the mailbox so our payment would not be late. We requested it to be mailed out sooner but were ignored.

March 2013, no bill came in the mail at all. We made dozens of phone calls to LoanCare and no supervisor or manager was ever available to speak to. We were repeatedly lied to by customer service people as to why we received no bill in March 2013.

In April 2013, no bill had come as the payment duedate for April came and went. Again, we called LoanCare and were told no supervisor or manager was ever available to speak to us. We left messages on "manager" voice mails and never got a return phone call.

In May 2013, we received a bill for both March and April 2013. Today is 5/31/13 and No bill for May has shown up in the mail - our due date was on the 20th?

So far we have not been charged any late fees. I guess we will have to keep calling LoanCare to beg them to send our bill so we can pay them on-time.

We refuse to due any on-line banking with this company as if there were ever a problem there would be ZERO LoanCare Customer Service to help us.

Not sure what is going on with this company but stay away! shenanigans!

My mortgage was originally with my local first bank (For 13 years!) , and without any notice my loan was sold to a company called loan care. First bank explained that it was common for banks to sell "older" loans. Anyway, I was told that I still could make my payments to my local first bank and they would forward it to loan care. Cash payments were made and not credited to loan care. I have the receipts. First bank forward it to loancare and they are claiming to have never received it. I have called them multiple times and all the cust reps all tell me that they will find out what is going on, but after hours on the phone, they assure me that they will contact me back within 24hrs and they never do! I emailed them once more to find out why my 3k has not been credited to my account for the past 3mo along with demanding a 48hr response time limit. If I do not hear from them and get this issue resolved, i'm ready to talk to my lawyer and the news. Local hometown banks should not be able to sell loans to a company like loan care. I think loan care takes these loans knowing that the customer is not local and unable not to deal with them directly face to face. Please do not deal with loan care. If your loan is sold to them refinance with another company!

I am amazed that LoanCare is able to remain in business. They are incompetent at simple accounting tasks likes crediting my timely payments. Then they sent me a delinquency notice because they failed to do their job. Why would Castle and Cook—any financial institution—choose to employ them as a loan servicer? LoanCare's service agents say "we're sorry, " but that simply does not help.

I requested mortgage tax information from the servicer of my mortgage so I could file my 2011 taxes. They sent me the information in a windowed envelope with my name, address, and complete social security number printed in the window. When I called then stated that I would have to put it in writing as they had no one to handle the complaint. I put it in writing and waited. I was very upset with my mortgage company for not being held accountable for this violation. They sent me a letter back 6 weeks later saying they needed more time to investigate it. Four weeks after that they told me that there wasn't enough information to resolve it but rest assured the problem would be taken care of. So they can plaster my ss number on the front of an envelope and not suffer any consequenses! That is crap.

Our mortgage was sold from AG First to Loan Care, during this time, my payment came out of our account automatically. and was paid to the mortgage co. I received a notice that they sold and to send payment to new address, 1 mo after the fact! then it was down hill from there, after 3 mo. I received a letter stating we were in foreclosure. we had over 40 people that we documented talking to. Not one person ever straightened out the mess. Then one Sat. two men showed up at our door, they were there to take pictures, I call police, thinking it was a scam. they handed me a little sliver of paper, I called the 1 -800 number only to find out it was Loan Care! I proceeded to tell this lady we were not in forclosure! next week we called AGAIN! we asked for a letter stating we were never late with our payments, and I wanted something in writing that our credit was not affected. we have a score of 820. NOTHING! again another phone call then one week later we receive a bill for the men coming out to our home! are you kidding me! Then another call, this time we are told our mortgage in finally up to date! (never was late) and they owe us 1, 000. WHAT? no you don't all the money that was sent was for the payments. so the lady said we have to send this. I say fine send it! We never receive it, I tell my husband Im sure now they messed up our escrow. then we received another call that we are still owning money. Now my husband finally talks to a supervisor. He askes her what are they going to do for us! They offer to lower the interest rate from 4.625 to 4.125 which saves us 60 mo. then two days later we sign papers and send back. the following week we receive a letter that we are now 380 short in our escrow and we still show a 600 balance in our escrow! so we call again! now they say its a buffer! A buffer? for what? you have 600 of our money sitting there, all the taxes and ins. has been paid for the year. then they say oh SORRY our mistake? What is with this company, this has been the worst experience of my LIFE! If I could change companies I would in a heart beat.if you can get a mortgage somewhere else DO IT! the people that work here are incompetent idiots! and to top it off, not one of the sheets of paper that they send to you, have a signature! it always says customer service call... a generic number where you get who ever answers a phone and you can't ever leave a message! I am going to an attorney this week to see if we have any recoarse with this company, It has been a very stressful 6 mo. Oh did I also mention they screwed up our credit so now we have to still deal with that! it showed we were late! after they said it wasn't reported. and we never to this day have received an apology or a letter stating they messed up. I guess don't hold your breath! I just hope we can resolve this mess.before next month comes and then there is something else to deal with!

My 2nd mortgage (equity line of credit) was sold to Loan Care by GMAC in Nov. 2010. I put my home on the market in October as a short sale and had a buyer the first day. My 1st mortgage company Citimortgage immediately approved my short sale and offered to pay LoanCare $3, 000 to release the loan so the sale could go through. After 2 months of silly requests from Loan Care for documents already sumbitted mulitple times, they denied the short sale. I was in direct contact with the negotiator for Loan Care and offered on top of the $3, 000 from CitiMortgage, to pay $3, 000 more to bring my account balance current and make all back payments so they would release the lien. They flat out refused my reason for hardship and are forcing me to foreclose. I am now in talks with a bankcruptcy attorney and will most likely file Chapter 13. Loan Care will now receive no money from CitiMortgage or myself and the house will sit vacant FOR NO REASON. What is so frustrating is that a sweet newly married local school teacher wanted to buy our house and now it will sit vacant for God knows how long. DO NOT USE LOAN CARE!