Consumer complaint received 2021-07-23
Company: LoanCare, LLC
State: NJ
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
1. Secured a loan for the refinance/purchase of XXXX XXXX XXXX, XXXX XXXX, Utah in XX/XX/XXXX from XXXX XXXX/Loancare. 
2. Requested a forbearance plan from XXXX XXXX/Loancare due to COVID in XXXX of XXXX. 
3. Granted forbearance from XXXX XXXX/ Loancare ( see XX/XX/XXXX letter ). ( Due to that my employment was impacted by COVID, I was not working for several months ). 
4. Mortgage sold/transferred to XXXX XXXX as of XX/XX/XXXX ( see service transfer dated XX/XX/XXXX ). 
5. Mortgage still in forbearance as of XX/XX/XXXX ( see XX/XX/XXXX letter ) 6. Received a Loan Modification letter from XXXX, dated XX/XX/XXXX. ( please see XX/XX/XXXX letter ). Needed to respond by XX/XX/XXXX. 
7. Mortgage sold/transferred to XXXX  XXXX/Loancare as of XX/XX/XXXX ( see service transfer dated XX/XX/XXXX ). 
8. Received statement dated XX/XX/XXXX from XXXX XXXX, causing confusion, as XXXX stated Loan would be transferred. 
9. Called XXXXXXXX XXXX/Loancare on XX/XX/XXXX to get a mortgage statement, ( my purpose was two-fold : 1 ) to make sure I started paying the loan again to not default, and 2 ) I was in the middle of a refinance for another property, and the last piece of information needed was ONE mortgage statement for XX/XX/XXXX from XXXX/Loancare ). I was told XXXX/Loancare did not even have an account set up for me yet. I asked then about payments, and I was told I have a 30-day grace period for payments. I asked to receive e-statements. I was told statements would not be generated until the XXXX of the month. ( Please ask for the recordings of my calls ) 10. Called on the following dates following up : ( please see screenshots of calls ) a. XX/XX/XXXX b. XX/XX/XXXX c. XX/XX/XXXX d. XX/XX/XXXX. As of XX/XX/XXXX, there were still not any mortgage statements in my online account, even though I was told they were processed on the XXXX of each month. 
12. On XX/XX/XXXX, the representative told me I was in a loan modification program and failed to make a payment. I asked what modification program? She said we called you. Please note, to date have never received any documentation regarding a loan modification, thru mail, e-mail, or otherwise, nor have I ever received a message from XXXX/Loancare regarding same. The only loan modification documentation I have ever received was from XXXX, not XXXX/Loancare ( see # 6 above ). Again, I requested statements, inquiring why they were not in my account. She told me XXXX/Loancare would be emailing me my XXXX and XXXX statements, that it would take 5 to 7 business days. Again, I have never received such statements ( and yes, I have checked my SPAM folder ). 
13. On XX/XX/XXXX, I had a credit alert that my credit plummeted from XXXX to XXXX when XXXX/Loancare said I defaulted on a loan. It is hard to default on a loan when they have never mailed you a statement for what you owe on a monthly basis, nor a statement on your account on their website, and their website is inoperable to accept payments. ( Please note : I have had 3 other mortgages in my lifetime, and numerous car loans, and never have I defaulted on a loan ). 
14. Called on the following dates to try to rectify my credit situation : aXXXX XX/XX/XXXX b. XX/XX/XXXX. To boot, the loan was paid off on XX/XX/XXXX, just 2 days after they said I defaulted. Please see closing documents from XX/XX/XXXX. And they must have KNOWN this, since the Title Company had to ascertain what the payoff amount was from XXXX/Loancare. 
16. Call on XX/XX/XXXX lasted 2 hours. Waited 30 minutes for a representative to answer, at which time I explained my situation, then she transferred me on hold to a supervisor for another 1.5 hours, at which point, I had to get ready for a hearing, and pressed the number for a call back, which was supposed to be in one hour. I never received such call to date. I understand that we are in a labor shortage, but XXXX/Loancare is impossible to get ahold of on the phone. If I lived closer, I would go to their offices. 
17. On XX/XX/XXXX, I received a letter dated XX/XX/XXXX regarding Please contact us about your recently missed mortgage payment ( see letter dated XX/XX/XXXX ). As you can see, I included the copy of the forwarding address from the USPS attached to the envelope ( I moved XX/XX/XXXX ), somehow this letter never got to me at my NY address, and then showed up 6 weeks after it was dated. This letter was not sent to me via email, nor is it under e-statements in my account on the website. ( It is also not my fault the USPS took 6 weeks to get this document to me when I changed my address ). Furthermore, they said I missed 13 mortgage payments. I did not miss 13 mortgage statements, I was in forbearance, and ready to begin payment XX/XX/XXXX ( evidenced by above efforts ). 
18. Please see screenshots of their website. The ONLY statements on the website, are two of the same : a debt validation letter dated XX/XX/XXXX. No statements, no default letters. I repeatedly tried to pay a payment via their website from XX/XX/XXXX onwards, just to pay something, but the site would just keep generating for a long time and go to a message that said I didnt have access to my account. ( PLEASE ask for the recordings of my phone calls. ) No one offered to help on the occasions I actually got to speak to a representative and explained the website was not working for me to make payments. 
By the above statements, XXXX/LoanCare I believe is conducting predatory lending practices. They never sent me an actual mortgage statement, nor is there one on my account on their website. Did I owe the total from forbearance? Did I owe the regular monthly payment? I believe they saw the huge increase in housing prices in the housing market and wanted to default my loan so they could make a huge profit on the resale. That and the fact that the transition was so confusing from XXXX to XXXX/Loancare. I tried to be diligent about figuring out the transition, just to find out on XX/XX/XXXX I didnt even have an account set up yet with the new lender. It is completely irresponsible of a lender to not have my account set up yet on the date of my transfer. And the fact that their representative LIED to me, stating I would be receiving both XXXX and XX/XX/XXXX mortgage statements, which apparently do not exist as I have never received them via mail, email, nor are they in my account online. This company is extremely dishonest and fraudulent and should be investigated. I implore you to request the recordings of my phone calls, to see what I was requesting and how they tried to appease me but never actually help me sort all of this out.

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