Consumer complaint received 2019-09-17
Company: LoanCare, LLC
State: GA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Misapplied funds for escrow and as an extra payment. Charged late fee because my payment afterward was considered a shortage and that they will not remove. Continue to hold up my PMI being dropped after reaching 76 % of LTV ratio, because of the misapplied funds and late fee. Always say they will put in a request to resolve it, and turns out even more screwed up. I am never able to speak to someone that knows what they are doing. They received my account in XXXX and still have not been able to get it right. I had 7 Misapplication Reversals and Reapplied payments in XXXX. This caused XXXX to be considered late because they put these funds in a holding account. XXXX just got reported as being late on my credit reports, because they never removed the funds from the HOLD account to apply as my mortgage payment. And I called them 3 times within this time frame to make sure they would remove the late fee and apply XXXX. I submitted a complaint to the XXXX. After reporting to the XXXX I still received a stock response : Please accept this as written confirmation that LoanCare , LLC received the complaint on behalf of the consumer. Please be assured that we take such matters very seriously and LoanCare 's Office of the Customer is investigating the claims made. We will provide a written response to the consumer upon completion of our research. 

I never received that written response and again received a standard reply to my complaint. I rejected the response from the XXXX. I had to write again because the issue still isn't resolved. with this request, they asked me to send them copies of my bank statements to show them I made the payments on time and that the payments weren't returned. This was very insulting as I'm grateful I can pay my bills each month. However, I sent them my bank statements to see if we could finally get this issue resolved. I am requesting the removal of PMI from my mortgage due to reaching 75.6 % LTV.

I need to have " payment has been paid past your grace period one time in the last 12 months '' removed so it doesn't trigger another denial of PMI removal. I made payments on time. I paid my Escrow payment on XX/XX/2019 for the full amount of {$650.00}, which was applied to the principal balance. I paid XXXX on XX/XX/2019 in the amount of {$1800.00}, which was the amount stated after escrow payment was applied. However, since escrow was not used, this payment was considered a short payment and put into a holding fund. I never received any notice that this occurred. I paid XXXX payment on XX/XX/2019 in the amount of {$1800.00} because I assumed my payments would return to the amount before escrow was readjusted. Again this payment was considered short and move to a HOLD account. I called on XX/XX/2019 to inform of the error, and the representative told me I had to pay {$32.00} to resolve the short, which was before the end of the 15 day grace period. I was charged a late fee because the Short payment of {$1800.00} was never removed from the HOLD status and added to the {$32.00} I paid. I called again around the end of XXXX to have this late fee removed, and the representative said she would resolve. The late charge was fixed ; however, I received another one in XXXX ; because again they failed to remove {$1800.00} from hold status. It was not until I called on XX/XX/2019 that a rep noticed that there was {$1800.00} on-hold status and finally resolved the XXXX payment. We also got the late fees removed. 
However, the late payment passed 30 days was reported to the credit unions. I need to have those resolved ; because every payment has been made on time. Also, under my PMI information statement, it is reporting that I made one payment past the grace period ; which again needs to be removed. I should currently have no missed payments and be eligible to have PMI dropped after reaching 75.6 % of my LTV. I would like to have a refund for the amount that I've paid past the 80 % LTV required to remove PMI, and my monthly payment should be adjusted.

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