Consumer complaint received 2021-03-17
Company: LoanCare, LLC
State: CA
Product: Mortgage
Sub-product: VA mortgage
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
I feel like LoanCare and XXXX XXXX XXXX are preying on those that needed and asked for help during COVID by destroying our credit reports. The only response the call center gives is " well that's how we're allowed to report it ''. This reminds me of the predatory policies that XXXX XXXX  XXXX and XXXX XXXX were caught doing. My hope is thatI can get some help and this complaint sheds light on a malicious policy that is intended to cause long term harm to consumers. I have submitted a ticket ( # XXXX XXXX but received no response yet. 

XXXX has inaccurately and purposefully reported my account late for 6 months of 2020 while in forbearance and has refused to correct the error. My VA Home Loan was approved for a 180-day CARES Act forbearance on XX/XX/2020. I understood that my payments from XXXX to XXXX would still accumulate but would not be reported as past due. A forbearance was meant to protect us after my wife was unable to work due to XXXX restrictions. I understood that only those approved payments XXXX XXXX to XXXX XXXX would be protected from derogatory credit reporting. When my CARES Act forbearance was approved, we were past due for our XXXX payment which I knew would remain past due until paid. To me this meant that XXXX would become XXXX, XXXX, XXXX, etc days late until paid because the other months were protected by the forbearance. That is not what happened, LoanCare marked XXXX, XXXX, XXXX, XXXX, XXXX, XXXX, and XXXX as 30 days past due. They marked nearly every month of the forbearance as past due plus XXXX and XXXX. I made payments throughout my forbearance and did not request a modification, choosing to pay the remaining balance in XXXX despite receiving an extension to XXXX. I paid the balance in XXXX then made on time payments moving forward but XXXX and XXXX were still listed as late in error. I was legitimately trying to get caught up and end my forbearance as quickly as possible. Below and attached is my payment history before and after the forbearance : XX/XX/2020 : Approved for 180-day CARES Act forbearance XXXX XXXX balance is past due ). 
XX/XX/2020 : Payment for XXXX balance. 
XX/XX/2020 : Payment for XXXX balance. 
XX/XX/2020 : Payment for XXXX balance. 
XX/XX/2020 : Payment for XXXX balance. 
XX/XX/2020 : Payment for XXXX, XXXX, and XXXX balances. 
XX/XX/2020 : I requested and they approved to end my XXXX XXXX forbearance early. 
XX/XX/2020 : Payment for XXXX balance XX/XX/2020 : Payment for XXXX balance I do not see the reason to have a specific policy of marking months during an approved forbearance as past due. It is even worse for LoanCare to defend such a damaging policy by saying that they do it because they're allowed to. This is in no way the right thing to do to anyone, especially those that are seeking aid during a incredibly difficult time.

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