Consumer complaint received 2017-09-21
Company: LoanCare, LLC
State: TX
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
This complaint is against Loancare, a mortgage servicing company. My loan was previously serviced by XXXX XXXX XXXX. I took all of the correct measures with XXXX XXXX XXXX to have my PMI removed from my account. I paid {$4100.00} on XXXX/XXXX/XXXX to them so that my LTV ratio would be under 78 %. They approved PMI removal, but before they removed it, they sold my loan to Loancare. I have reached out to Loancare once per month for almost a year to have this resolved. I paid PMI for a total of 12 months after I had requested it be removed and after my LTV ratio was under 78 %. I sent a written request to have the PMI refunded in the full amount of {$720.00} and still do not have resolution. 

XXXX/XXXX/XXXX - I spoke with XXXX ( Agent # XXXX ) about needing PMI refund since my LTV ratio was currently under 78 %. I was still paying PMI at this time. He had me send an email to the insurance department. I never got a response. 

XXXX/XXXX/XXXX - I called back to check the status. I spoke with XXXX ( agent # XXXX ). He had me email the same information again. 

XXXX/XXXX/XXXX - I called back to check the status. I was still paying PMI at this time. I asked for a supervisor and was told that none were available and I needed to leave a message. I left my name and phone number for XXXX XXXX to call me back. I never received a phone call from her or any other supervisor. I spoke with XXXX ( agent # XXXX ). 

XXXX/XXXX/XXXX - Loancare finally cancelled the PMI on my account but still no refund on the over payment. I have sent countless emails with information for them. I keep getting told they are working on it and I have to continue to call back to check the status. 

XXXX/XXXX/XXXX - I called back to check again to check the status. I spoke with XXXX ( Agent # XXXX ) and was told that it takes 45 days to process the refund and they are waiting on XXXX XXXX to return my money but they are in the process. I need to call back. 

XXXX/XXXX/XXXX - I spoke with XXXX ( agent # XXXX ) and was now told that I need to send a handwritten request for the refund. I sent this via email and received ticket # XXXX. She told me that I needed to call back 5-8 business days later to check the status. 

XXXX/XXXX/XXXX - I called back to check the status and the refund was being " reviewed '' with the insurance department. I had been told a month before this that it had already been processed. Either way, I was told it takes another 20 business days to approve this time. 

XXXX/XXXX/XXXX - I called back to check the status. I was told that my refund had been completely approved and they were expecting a check to be issued by XXXX/XXXX/XXXX at the latest. 

XXXX/XXXX/XXXX - I called again to check the status of the refund. I was told a check in the amount of {$58.00} was in the process of being issued. {$50.00} of this would go back into my Escrow account and I would get a check for {$8.00}. I asked her to look up the handwritten letter that I had sent with the full {$720.00} and she found it. She did not know why they only requested a check for {$58.00}. She put me on hold and spoke with a supervisor. When she came back she had no answers and did n't say that they would work to resolve it. She tried to transfer me to the insurance department but instead I was transferred to " XXXX XXXX '' and then told it was the wrong department and I was hung up on.

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