Consumer complaint received 2019-11-21
Company: LoanCare, LLC
State: AR
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
I am enclosing a copy of my complaint I am filing with Arkansas Securities Department concerning LoanCare as the same issues apply here, and this is really a continuation of my previous complaint with you against LoanCare. They only partially resolved that problem as you can tell from this letter. 

XX/XX/XXXX XXXX XXXX XXXX XXXX 
XXXX XXXX, AR XXXX loan # XXXX Arkansas Securities Department XXXX XXXX XXXX, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, AR XXXX Dear Arkansas Securities Department, My loan servicing company screwed up my mortgage payment calculation starting in XX/XX/XXXX and did not correct it until XX/XX/XXXX. But they are still using an incorrect payment demand and refusing to give me credit for properly complying payments made in XXXX, XXXX, and XXXX. 

As a result they are showing me past due in payments when I am not. In addition they have erroneously reported this misinformation to a credit agency and my credit rating has been harmed. 

They have continuously harassed my wife and I with collection calls and demands for payment when a simple reading of the payment history shows I am not past due. 

They are using an incorrect mortgage payment calculation of {$2900.00} and refusing to properly record my complying payments of XXXX XXXX and XXXX. Any shortage of my payments to the {$2200.00} amount has been tendered to the company. Also and escrow shortage of {$2100.00} has been paid by me. 

The {$2900.00} payment is based on an amount of insurance they erroneously paid {$12000.00} and received a refund for on XX/XX/XXXX. The correct mortgage payment is {$2200.00} and should have been this amount starting XXXX XXXX which is when we notified them of the new homeowners insurance amount which is {$7900.00}. 


A big part of the problem is that the loan servicing arm of the company is in XXXX  XXXX, VA and the payment collection arm of the company is in Pennsylvania. Also the insurance people for this company are in South Carolina. It appears they do not communicate with each other and rely heavily on information in their website. 

This company relies heavily on a computer programs to track payment information and send collection correspondence and the company programs are inflexible and simplistic. The company, when they corrected the payment calculation to {$2200.00} told their people this was the payment going forward from XX/XX/XXXX. One needs to correct the error back to its origin in XXXX. This may require a manual fix and an override of the wrong information the computer program is relying on. This has compounded the original error and continued the dispute. 

And so their clerical people and their collection people and their computer program generated reports are all in error for the period XXXX, XXXX and XXXX. 
Looking at the payment history, and the several erroneously computed escrow computations all of this becomes clear and is easily understood. And yet what seems to be a colossal management deficiency has allowed this dispute, easily understood, easily fixable to go on for XXXX months. 

Regards, XXXX XXXX enclosures escrow computation XX/XX/XXXX Escrow computation XX/XX/XXXX Payment history of mortgage 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