Consumer complaint received 2019-06-07
Company: LoanCare, LLC
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
We tried to refinance the house to get rid of the PMI insurance. There was an error in loan cares communication to us regarding our status of the PMI cancellation. When we first inquired about the PMI cancellation late XX/XX/2018. We received a letter shortly after, XX/XX/2018, that stated we DO meet the status of PMI cancellation and to just send {$100.00} for an appraisal. At that point we contacted customer service to CONFIRM the amount and the status of PMI cancellation and was informed to send in a check which we promptly did and it was cashed right away. At that point with the information that was given to us by loan care We decided that I would be able to stay home with our XXXX since we would be saving on the PMI insurance every month, of course with other bills we minimized and other cutbacks. It wasnt solely a decision based on Loancare but I did provide a notice to my work at that point. It wasnt until weeks later that we  received a letter stating that there was a mistake on the previously letter sent and that now we have to pay more money for another appraisal since we DID NOT meet the PMI cancellation. This was after we had already called in and spoke to someone regarding our PMI and it should have been caught then. Umm okay now I am XXXX with a XXXX and needed to act fast. I called numerous times, would wait on hold for hours at a time, all while taking care of my son, just to get hung up on or put back in the queue and never get an answer. I finally had XXXX to work with and a member of the management team to help me. I was promised several calls back by management and never received one call. XXXX never answered her phone and when she did call us back she provided no information and basically to just wait. No one ever notes my accounts so I would have to tell the story each time I called. This started back in XXXX I believe and finally in XXXX or XXXX was when they officially told us there was nothing they could do. So after multiple incorrect letters, getting wrong information from all representatives, and basically putting my livihood in their hands we refinanced, got our PMI removed and are where we thought we would be months ago. I am getting in contact with a lawyer, will file complaints with the CFPB, TPCA, and XX/XX/. 

It took 20+ phone calls, spoke to probably about 10 different people majority supervisors or above and absolutely got no where. I literally would be on hold for hours.

Dont ever chose the option of getting a call back and not loosing your place in line.. I am still waiting for about 5 of those call backs. No one called back, no one cared, it was all a joke to them. I was literally going through XXXX XXXX while they held my future in their hands. They are disgusting. I hope someone finally takes a stand against this company. Its fine we didnt meet the PMI but this needed to be communicated not pushed around for months and pushing a new mom to their breaking point. We would have paid the difference for PMI, took out a loan, but we couldnt even get any answers from them.

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