Consumer complaint received 2019-12-26
Company: LoanCare, LLC
State: FL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Issues : These three issues have not been resolved since XX/XX/19. 

1. LoanCare has not refunded me {$230.00} that they erroneously took from my account on XX/XX/19. My correct mortgage amount is {$2100.00} and the incorrect mortgage amount that LoanCare is charging me is {$2300.00}. 

2. LoanCare is not reflecting my correct mortgage payment to be {$2100.00}. 

3. LoanCare has not corrected their erroneous and undocumented property tax estimate of {$10000.00} to the correct and documented estimate amount of {$3200.00} which is causing my monthly mortgage due to appear higher than what it should be. 

History and attempts for resolution On XX/XX/19 I closed on a new home. XXXX XXXX  was my original lender. Shortly after my mortgage was sold to LoanCare. 

On XX/XX/19 LoanCare officially became my mortgage/loan processor On XX/XX/19 LoanCare incorrectly withdrew {$2300.00} from my checking account. 

On XX/XX/19 I called LoanCare to report this error and asked for a refund of {$230.00}. My mortgage payment on my statement and closing documents is {$2100.00} and LoanCare erroneously withdrew {$2300.00} On XX/XX/19 I was told by LoanCare ( XXXX - Customer Rep ) that {$2300.00} was taken out due to an increase in the property tax estimate. LoanCare is estimating my property tax at {$10000.00} and has no proof to validate the logic of their estimate. I referred Loan Care to my closing documents and current tax bill and stated my loan is brand new and the property taxes are {$3200.00}. LoanCare stated the best and fastest way to resolve this is to cancel my escrow account. I agreed and submitted a request to cancel the Escrow account and pay the property tax and home insurance on my own. I was told this request would be completed in a 2-5 business days. 

On XX/XX/19 I called LoanCare and XXXX ( Customer Rep ) told me the request was not complete and I was told the request to cancel the escrow account would be reviewed by XX/XX/19. 

On XX/XX/19 In attempts to resolve the review to cancel my escrow account in the 2-5 day timeframe I was originally told I spoke with Manager ( XXXX ), she was unable to help and assured my the review would be complete by XXXX and there is nothing more she can do. I asked to speak with someone above her and I waited on hold for a supervisor for 1 hour and then LoanCare hung up on me. 

On XX/XX/19 I called LoanCare and spoke with customer rep XXXX. He told me my request to cancel the escrow account had been denied because my loan needed to be seasoned for 6 months before it could be cancelled. I then communicated to LoanCare if they can not cancel my escrow account then the erroneous escrow property tax estimate needs to be fixed. XXXX told me he would submit to a supervisor and have the erroneous property tax estimate adjusted from {$10000.00} to {$3200.00}. XXXX submitted the property tax bill and closing documents to support the {$3200.00} property tax estimate to a supervisor and stated the case should be worked in 2-3 business days. I requested to speak to a supervisor and XXXX said he would stay with me on the phone line and connect me with a supervisor. I waited 25 minutes and he hung up on me. 

On XX/XX/19 I received a letter from LoanCare stating my request to cancel the escrow account is denied because my loan has not been seasoned for 24 months. 

On XX/XX/19 I called LoanCare and spoke with Manager XXXX. She stated the case is not complete. She stated the escrow estimate would be corrected no later than XX/XX/19. She stated I should receive my refund of {$230.00} on XX/XX/19. I asked her if this is the best that they can do and she told me yes. I informed her these issues have been going on since XX/XX/19 and this is my last attempt to resolve this with a manager and I will be proceeding with filing a complaint through the Consumer Financial Protection Bureau.

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