Consumer complaint received 2021-11-08
Company: LoanCare, LLC
State: CO
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
Please find a detailed description of our issue from my representative below. The short of it is that when we refinanced our house, Loancare did not fill out the paperwork to properly release the second mortgage we had and now we have a lien on the house even though we consolidated our loans. The loan that the lien came about over was consolidated and we have been making payments on it, but Loancare will not release the lien and will not respond with anything meaningful. They are not acting in good faith.

This is a detailed explanation of our communications with Loancare from my representative : Good Morning XXXX, I have tried numerous amounts of times to get Loan Care to send me a lien release for the deed of trust I saved to attach here for you for {$12000.00}. I let them know I believe where the confusion is this was a down payment assistance lien to the 1st mortgage. When the loan was refinanced both of these liens were paid in full and closed. They released the lien for the 1st mortgage and thats the lien release that they keep sending us ( Ive also attached it here for your records ). However they have not released the 2nd lien for the down payment assistance & we need it released before we can proceed with your Heloc.

If you look at both liens you can see the recording numbers are different by one digit. The first mortgage is XXXX and its been released, the second lien reception number is XXXX and it hasnt been released. 

I have told them this many times and they are still sending me the same incorrect recorded copy of the 1st mortgage only.

No supervisors at this company have a direct phone number so every time you call you first have to speak with a call center agent & have them transfer you to a supervisor. I have spoken with at least 5 different supervisors already and they keep telling me your loan request has been escalated but still no resolve. 

On XX/XX/XXXX they emailed me the loan paid in full letter attached above with no attachment, just that letter by itself. 

XXXX XXXXXXXX This is the email that always emails me, no one replies back to this email either so each time its wrong I have to call them and wait at least 20 minutes just to be able to speak with a supervisor. 

Ive emailed them & received emails from them on XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XXXX, XXXX, XXXX, XXXX, XXXX, XX/XX/XXXX, XX/XX/XXXX and Ive also called them at least 15 times as well. I dont know what else to tell you at this point. I called them again today but they will not speak to me without another signed borrowers authorization form from you because the last one expired and they need an updated one. Ive also attached that form here as well. 

Thank you! 

XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX or XXXX -- -- -- Please help us! We are making payments on our consolidated mortgage, but because they will not release this lien, I have incurred over {$5000.00} in additional material costs due to not being able to purchase materials in XXXX for the work on our house. We can not get our HELOC loan until they release this lien. We do not owe them any money. The mistake is on their end and they need to release the lien for the correct loan. Thank you for your help!

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