Consumer complaint received 2018-06-28
Company: LoanCare, LLC
State: FL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
I have an issue with a company called XXXX XXXX XXXX, address XXXX XXXX XXXX XXXX XXXX. XXXX XXXX, VA XXXX. The loan number was XXXX. The issue is with them reporting two 30 day late payments on my credit report in XX/XX/XXXX and XX/XX/XXXX. I believe this reporting to be unfair, as the original loan company sold my loan without my knowledge and the automatic payment that was established was removed. I had no knowledge that the loan was sold as i moved to a different state for work and they only allegedly mailed me communication that this would occur, although they had my same email and phone number on file for 7 years and they could of easily called or emailed me to ensure the loan properly transitioned over to the new loan servicing company. When the automatic payment was removed, I had to manually go on their website to pay and I was consistently 30 days behind each month based on when I found out this had occurred, which was after the first payment didnt go through, this was after they took over ownership of this loan. It was an extremely busy time for me as I moved to a different state for work and I was working very crazy hours and not tracking what had transpired, as it was not necessary before due to automatic payments being made. I actually thought I was on time, but the automatic payment being removed messed up my payments and I was consistently about 30 days behind for the remaining time until the loan was paid in full on XX/XX/XXXXThe late payments were a few days over the 30 day reporting timeframe and thats when they reported it to the credit bureau. This was in addition to them charging me late payments the entire time, which I also paid them. This issue would of never happened if they did not sell my loan and remove my auto payment. I called and tried many times to fix this but their customer service is very poor and they offered little assistance. Additionally, my credit score shows no other late payments from any other companies, this is specific to this company as a result of the issue I previously stated. The company could of called or emailed me after the loan was sold to ensure the auto payment was still working to help create a smooth transition. I believe they dropped the ball, yet Im the one punished through negative credit reporting and late fees. After the loan was paid off in XXXX of this year, I realized that they actually reported these 2 late payments and I contacted them about 20 times to see if they could correct and report this to the credit bureau or simply send me a letter as documentation based on their role in the late payments and they refused. They have been extremely uncooperative in trying to resolve this. Im in the process of trying to buy another home in the state i relocated too and no mortgage company will lend to me based on these alleged late payments. When I asked them to simply write a letter explaining what occurred, they wrote me a letter last week denying my request. As an example of what occurred, XX/XX/XXXX was paid in XX/XX/XXXX and XX/XX/XXXX was paid in XX/XX/XXXX, the XX/XX/XXXX was the final payment and at that time paid in full. The entire loan balance was paid in full on XX/XX/XXXX and it was processed by them on XX/XX/XXXX. This was how the payment history went after the loan was sold, consistently about 30 days behind as a result of the payment timing being off, due to auto payment being removed. Having a working website is the responsibility of the lender, I called in to the company many times after the loan was sold to try and have the automatic payment set back up but their website would never accept or allow it to be re-established. It is also very convenient that this company benefits from the late payments because they charged me an extra fee each time! 

This company received every single payment from this loan with additional alleged late fees. It is my hope that this will be corrected in a fast manner, as this has been a major inconvenience and I have no protection as a consumer from false and alleged claims being made about me. I did not have any issues with payments being made on time until my loan was sold and the automatic payment was canceled. I previously had another loan with the company who sold the loan, called XXXX XXXX and I had no issues whatsoever with that mortgage and that loan was also paid off in full in the year XXXX. 

A company should strive to let its clients know when they sell their loan, especially if it will effect the servicing aspect like automatic payment removal! I had no idea this took place, the notification was solely mailed to my previous address. It could of easily been emailed or someone could of called me! This company takes no responsibility on this issue and unfairly puts the full blame on me, the consumer.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation