Consumer complaint received 2022-02-07
Company: LoanCare, LLC
State: PA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
My loan was sold to XXXX XXXX, now known as LoanCare , LLC, in XX/XX/XXXX. I have experienced difficultly on several occasions trying to process one-time principal payments via the website. In XX/XX/XXXX ( near the end of the month ) I tried to make a principal payment of {$10000.00} online and received an error. I spoke to a CSR who informed me I had to wait until my monthly payment was drafted, which would occur on XX/XX/XXXX. I attempted to make the principal payment again after XX/XX/XXXX, and received another error message. A different CSR informed me the monthly payment would take a few days to post and I needed to call back. Finally on XX/XX/XXXX, I spoke to a CSR and would not take 'no ' as an answer. The CSR then told me they could only take a payment of {$9900.00}. I refused this reply and asked to speak to a supervisor as I did not want it to appear as though I was structuring payment amounts. A supervisor ( XXXX XXXX successfully processed this payment on XX/XX/XXXX at XXXX. In XX/XX/XXXX, I again sought to make a one-time principal payment via the website for {$10000.00} and once again received an error message. I spoke to a CSR ( XXXX XXXX on XX/XX/XXXX who processed the payment. In XX/XX/XXXX, I tried again to process a principal payment of a few hundred dollars online and received an error. I did NOT call a CSR. On XX/XX/XXXX, I tried to use the website to get a copy of my amortization schedule and again, received an error. At this time, I submitted a complaint via the company 's website explaining the issues I encountered and my increasing frustration. I also suggested that the hoops I had to go through to make principal payments felt as though LoanCare was trying to make it harder for customer to pre-pay and thereby collect more interest income. For example, there was a 2 week delay from XXXX until XX/XX/XXXX where LoanCare was able to collect interest on an additional {$10000.00} of principal because I wasn't able to make a one-time payment despite repeated attempts. In my complaint on XX/XX/XXXX, I asked to be contacted on my cell phone. LoanCare did call me on both XX/XX/XXXX and XXXX, but I was unable to take the calls. On XX/XX/XXXX, I received a letter in the mail regarding my inquiry for a copy of my amortization schedule ; a copy was enclosed in the letter. Also enclosed was a letter to another customer regarding a complaint they submitted to the XXXX XXXX XXXX regarding their escrow account. In addition to the letter, LoanCare included a copy of the other customer 's escrow statement which includes various PII ( name, address, loan number, etc. ). I reached out to LoanCare on XX/XX/XXXX to share that I received this letter. I also asked who their primary regulator is, and they confirmed it is the CFPB. They provided an internal email address where I can submit my complaint and asked that I send a copy of the other customer 's information that was shared. I have not yet submitted anything to this email.

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