Consumer complaint received 2021-03-16
Company: LoanCare, LLC
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
I closed on my 30 year fixed rate mortgage on XX/XX/XXXX, with a 3 % interest rate, and principal of {>= $1,000,000}. My mortgage lender was called XXXX XXXX. My closing statement shows that I paid interest for the days from XX/XX/XXXX to XX/XX/XXXX as part of escrow. 

In XXXX I got my first bill, due XX/XX/XXXX, from XXXX XXXX. I wrote the check that's attached for the full amount and mailed it to XXXX XXXX. The XXXX bank statement shows Check XXXX clearing for the amount of the monthly balance. 

After that payment, I received notice in XXXX that XXXX would be the new servicer, and then I received a bill due XX/XX/XXXX. I paid that via electronic debit, and the attached bank statement for XXXX shows that payment to them clearing on XX/XX/XXXX. When I spoke with XXXX 's customer care employee she told me they didn't have any record of that payment, in other words they had lost it. 

Then, I received a XXXX bill in XXXX due XX/XX/XXXX. I paid that one by electronic debit as well, and please see the XXXX statement, attached, showing that the transfer cleared on XX/XX/XXXX. I also learned that the mortgage would be transferred a second time, to XXXX Bank. I asked XXXX to retain the mortgage until the dispute over the missing payment was resolved, but they did not do that and instead transferred to XXXX and told XXXX that I was behind by a payment. 

The mortgage transferred to XXXX before XXXX found my lost payment internally, and I began my relationship with XXXX with them telling me I was delinquent on the account, because that's what XXXX told them. I made my first payment to XXXX for the XX/XX/XXXX due date, but they credited it to what they considered the missing back payment, and told me I was still delinquent the current month 's payment. Then, by some miracle, XXXX forwarded the missing payment to XXXX, and they credited my account. 

Unfortunately, XXXX also lost the payment that I mailed for the XX/XX/XXXX due date, which cancelled check I am also attaching. This happened before the old XXXX payment was applied, so XXXX told me that I was still delinquent even after XXXX found and sent them my missing payment. XXXX then transferred the loan for a third time, to a company called LoanCare. Again I asked them not to do this until the payment dispute was resolved, but they did it anyway. LoanCare has adopted XXXX 's position that I am behind by one payment. I mailed them a check for the XX/XX/XXXX due date, which they have cashed, but they applied it to the XX/XX/XXXX balance and say I am still behind by a payment. 

Basically, if any one of these companies had held the mortgage long enough, this situation would probably have resolved itself. I've owned the house for six months and I've made six payments. I have explained this to each company along the way, but none of them deal with it or hold onto the loan long enough to just fix it. The current balance according to LoanCare 's payment history is {>= $1,000,000}, which ( according to an amortization schedule calculator I used online ) is what the balance should be after 5 payments. I have made six. I'm very concerned that my credit will be impacted even though I have made all payments on time, and I very carefully considered what I could afford before buying my home.

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