Consumer complaint received 2020-10-15
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: LoanCare, LLC (OR)

To Whom it may concern, My husband and I own a home in XXXX, OR. The mortgage holder is a company named XXXX which is based at XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX  PA XXXX. 

We have always payed our mortgage via scheduled auto-payment initially to XXXX XXXX  ( with whom our mortgage originated ) and then to XXXX ( to whom our mortgage was sold. ) XXXX failed to process our mortgage auto-payment scheduled on XX/XX/2020 for no explainable reason. This is particularly curious we have two mortgage accounts on separate properties with this company ( one for our residence and one for a home my mother lives in ) and the second loan ( my mother 's house ) took payment on the due date without any issues. 

I want to emphasize that we have never missed a mortgage payment in our lives until this error which was made by XXXX, not by us. 

At the time our auto-payment was due, there were more than sufficient funds in our bank account ( {$7300.00} dollars in that specific account at the time for which the scheduled payment of {$2100.00} was to be drawn. ) XXXX evidently suspended further auto-payments without notifying us and as a result our XX/XX/XXXX payment for the properly at XXXX XXXX XXXX XXXX was also not drawn. 

The first information we received as a customer was a physical letter that arrived in our mailbox on XX/XX/XXXX -- the letter had been written on XX/XX/2020. 

Upon receiving this notification we instantly called the XXXX customer service number and set up payment for the missing two months ( XX/XX/XXXX and XX/XX/XXXX ). When we contacted XXXX they were unable to explain what happened. They had no explanation at all. The customer service associate rescinded the late fees due to the clear mismanagement of the situation by XXXX. 

On inquiring how this could have happened and how this could be prevented in future, their only answer was that there was no explanation for the missing payment and there was no way they could guarantee that it would not happen again for any payment at any point in the future. This is not satisfactory and frankly, looks a bit suspicious. 

When we asked why there was no way that there could be automatic confirmation or communication upon successful payments, or even just for late or missing payments to which the only response was that they " don`t have that capability ''. I find this very disturbing -- a company providing financial services of this nature, who is set up to draw automatic payments and is quite able to send me frequent emails regarding their other financial products and information on refinancing, surely is capable of sending an electronic notice confirming receipt of payment. 

My husband then asked if this meant we now have to manually log into our personal bank accounts and check that this company has deducted the correct payment every month for the rest of the loan. The reply was that yes -this is the best solution. This would require that we check our bank statement online everyday from the XXXX of the month through the XXXX of the month and then contact XXXX if the payment wasn't taken and make arrangements for manual payments. Under those circumstances, one would have to ask what purpose having auto-pay would even serve?! 

We were asked by XXXX to write a formal letter and email it to them through their web site " myloancare.com '' via the Contact Us button which we did.

All of this has resulted in a precipitous drop in our credit score which has us very, very angry. Our credit score dropped XXXX  points! I have notified XXXX  of this issue and that I expect this to be corrected only to be put on hold multiple times and told by the service person I am speaking with they can only note my concerns, but not do anything about them. 

Shortly after writing our complaint letter to them earlier this week, my husband got a message from XXXX asking that I phone them at XXXX. I did that today, navigated their confusing phone menu, finally got a customer service person who had no idea why I was calling ( even though XXXX had asked ME to call THEM ), put me on hold several times in the middle of the conversation, had the audacity to advise me we still owed them money for our XXXX Mortgage Payment ( my husband manually paid both the XXXX Mortgage Fee and the XXXX Mortgage Fee and our bank statement reflects that fact ), and then advised me she didn't have the authority to do anything constructive to solve this problem which was entirely the fault of XXXX  not me or my spouse. 

We have been clear in our expectations to XXXX in what we feel should happen going forward : 1 ) We want XXXX to be clear that our account is not in arrears. 
2 ) We want our Credit Rating CORRECTED.

3 ) We want assurances that XXXX is managed with sufficient competence to run an auto-pay program that works correctly -- if they can not do this properly they have no business doing it at all and if they can not manage that, one has to wonder if they should even be in the financial services business.