Consumer complaint received 2021-04-29
Company: LoanCare, LLC
State: AZ
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
during the entirety of the loan, the statements that the company provided me and had online do not match the audit results of the loan when I requested a payoff. They stated that there was an added XXXX dollars +- that I needed to pay. It took them several weeks to get me my payoff amount and that was only due to numerous attempts to contact them. 

If the numbers that I was given had been accurate this wouldn't be an issue but they were not. 
On XX/XX/XXXX I went online and received the principal balance amount of {$14000.00}. On XX/XX/XXXX I added {$100.00} to that amount to cover any incidentals and made an electronic payment in the full amount of {$15000.00}, which should have been my final payoff, plus or minus a few dollars. For the next few weeks I attempted to get confirmation that my loan was paid off, or what small amount would be due. Nobody could find my account. I finally spoke with XXXX on XX/XX/XXXX who put me through to Miss XXXX at XXXX XXXX. She then told me Id get my payoff within one day. I then went online the next day and found my payoff principal had been increased by {$2700.00}, retroactively to XX/XX/XXXX. ( See attached Payment History Print Preview ) additional {$2700.00} in principal was added to my account on XX/XX/XXXX, when it was not there on XX/XX/XXXX. Also, why was the date posted to my account XX/XX/XXXX, when this additional principal wasnt added to my account until XX/XX/XXXX? 

My total sum of payments in XXXX total {$16000.00}. My account overview shows a total Year-to-date payments of {$13000.00}. ( See the attached Account Overview {$13000.00} and Attached Payment History {$16000.00} ). The difference is $ XXXXalmost the exact difference in what my payoff should be - {$100.00} or so and what you are reporting it to be - {$3200.00}. 


here is the email chain that has lead to this. newest first. I have removed my email address and phone numbers and account numbers from this section. 


Dear Valued Customer Thank you for contacting us. 

We have requested a supervisor callback. You may also contact our office at XXXX XXXX XXXX XXXX. 

Please feel free to contact us if you have any additional questions. 

Sincerely, Account Servicing Support XXXXXXXX XXXX XXXX XXXX XXXX AZ XXXX. 



-- -- -Original Message -- -- - From : XXXX XXXX XXXX : Monday, XX/XX/XXXX XXXX XXXX To : AccountServicing MyLoanCare Subject : my loan care, ( Ticket # XXXX ) IMPORTANT NOTICE - This message sourced from an external mail server outside of the Company. 
I sent an email last Thursday that hasnt been answered yet. I will give you till end of business tomorrow to contact me. 
XXXX XXXX From : AccountServicing MyLoanCare XXXX Sent : Friday, XX/XX/XXXX XXXX XXXX  To : XXXX XXXX > Subject : RE : my loan care, ( Ticket # XXXX ) This message was sent securely using XXXX Dear Valued Customer Thank you for contacting us. 

Your request is forwarded to appropriate department for processing. 

Please feel free to contact us if you have any additional questions. 

Sincerely, Account Servicing Support XXXX XXXX XXXX XXXX XXXX AZ XXXX. 




-- -- -Original Message -- -- - From : XXXX XXXX XXXX : Thursday, XX/XX/XXXX XXXXXXXX XXXX  To : AccountServicing MyLoanCare Subject : my loan care, ( Ticket # XXXX ) IMPORTANT NOTICE - This message sourced from an external mail server outside of the Company. 
Dear account servicing department, Not a single number besides the dates matches from what your audit states to what your payment history is showing online or in any of the statements that you sent through the mail to my house. This means that every periodic statement that you have sent over the course of the loan to me has been issued with incorrect information. 
As per 1026.41 Periodic statements for residential mortgage loans In short this law states. The federal periodic statement rule requires mortgage lenders and servicers to provide homeowners with prompt, regular, and accurate information about their mortgage loans. 
You were required to provide an accurate representation of the amount due, payments made, and an accurate history of what each payment was applied to. As it currently stands I will need to speak with your company in regards to how your company wants to handle this issue. Please have a manager or supervisor call me at XXXX or email me at XXXX with a resolution to this problem. 

XXXX XXXX From : AccountServicing MyLoanCare XXXX Sent : Thursday, XX/XX/XXXX XXXX XXXX  To : XXXX XXXX Subject : RE : my loan care, ( Ticket # XXXX ) This message was sent securely using XXXX  Dear Valued Customer Thank you for contacting us. 

We have completed an audit as stated in the previous email. Attaching the letters and the spread sheet for your convenience. 

Please feel free to contact us if you have any additional questions. 

Sincerely, Account Servicing Support XXXX XXXX XXXX XXXX XXXX AZ XXXX. 




-- -- -Original Message -- -- - From : XXXX XXXX XXXX Sent : Thursday, XX/XX/XXXX XXXX XXXX To : AccountServicing MyLoanCare Subject : my loan care, ( Ticket # XXXX ) IMPORTANT NOTICE - This message sourced from an external mail server outside of the Company. 
Dear Account Servicing Department, I would appreciate an explanation as to how my last statement showed an amount of {$14000.00} as the principle balance, I paid {$15000.00} and now it shows {$2800.00} as the principle balance. I have spoken with the account owner who received a check from you dated XX/XX/XXXX for {$14000.00}, with an attachment that stated the new balance being {$160.00}. Which is what I was showing before the mysterious {$2800.00} showed up. I will require the audit # s that total the {$2800.00} in detail. Lastly I would like to know If I am to pay the remaining {$2800.00} will this payment be going to the Lienholders aka XXXX XXXX? 
Thank you in advance for your assistance. Please dont hesitate to call, text or email me, XXXX at XXXX XXXX XXXX,, if I can provide any additional information or be of additional service. 


XXXX XXXX From : AccountServicing MyLoanCare XXXX Sent : Tuesday, XX/XX/XXXX XXXX XXXX To : XXXX XXXX XXXX XXXX : RE : my loan care ( Ticket # XXXX ) CAUTION : This email originated outside of XXXX. DO NOT CLICK any links or attachments unless you recognize the sender and know the content is safe. 
This message was sent securely using XXXX  Dear Valued Customer Thank you for contacting us.

Loancare completed an audit on this account. An audit had to be completed to adjust payments because payments were applied towards principal before paying the interest current. Attached you will find information pertaining to the audit. If you have any questions, please contact our office at XXXX XXXX XXXX XXXX. 

Please feel free to contact us if you have any additional questions. 

Sincerely, Account Servicing Support XXXX XXXX XXXX XXXX XXXX AZ XXXX. 



-- -- -Original Message -- -- - From : XXXX XXXX [ mailto : XXXX ] Sent : Monday, XX/XX/XXXX XXXX XXXX  To : AccountServicing MyLoanCare Subject : my loan care IMPORTANT NOTICE - This message sourced from an external mail server outside of the Company. 

Dear Payoff Department, On XX/XX/XXXX I went online and received the principal balance amount of {$14000.00}. On XX/XX/XXXX I added {$100.00} to that amount to cover any incidentals and made an electronic payment in the full amount of {$15000.00}, which should have been my final payoff, plus or minus a few dollars. For the next few weeks I attempted to get confirmation that my loan was paid off, or what small amount would be due. Nobody could find my account. I finally spoke with XXXX on XX/XX/XXXX who put me through to Miss XXXX at XXXX XXXX. She then told me Id get my payoff within one day. I then went online the next day and found my payoff principal had been increased by {$2700.00}, retroactively to XX/XX/XXXX. ( See attached Payment History Print Preview ) Numerous attempts at reaching Miss XXXX have been unsuccessful. I am reaching out to you for assistance. 

I would appreciate an explanation as to how an additional {$2700.00} in principal was added to my account on XX/XX/XXXX, when it was not there on XX/XX/XXXX. Also, why was the date posted to my account XX/XX/XXXX, when this additional principal wasnt added to my account until XX/XX/XXXX? 

My second question that needs an explanation is this : My total sum of payments in XXXX total {$16000.00}. My account overview shows a total Year-to-date payments of {$13000.00}. ( See the attached Account Overview {$13000.00} and Attached Payment History {$16000.00} ). The difference is $ XXXXalmost the exact difference in what my payoff should be - {$100.00} or so and what you are reporting it to be - {$3200.00}. 

Id like this inflated payoff of {$3200.00} corrected immediately and the correct amount that I owe provided to me so I can make the final payoff amount now. Thank you in advance for your assistance. Please dont hesitate to call, text or email me, 24/7 at XXXX XXXX XXXX, or, if I can provide any additional information or be of additional service. 

Sincerely, XXXX XXXX XXXX

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