Consumer complaint received 2018-04-25
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: LoanCare, LLC (CA)

In XX/XX/XXXX per our conversations both phone and email, I was instructed by XXXX XXXX Special Loans Administrator, LoanCare , LLC to send Cashiers Checks 1 : {$270000.00} for curtailment of principal and the other {$300.00} for quoted recast fee both dated XX/XX/XXXXon XX/XX/XXXX to XXXX XXXX XXXX XXXX XXXX. Certified Mail receipt has signature date and time received as well as tracking record showing that Loan Care received these checks.

I contacted XXXX XXXX by phone several times after several days when I did not receive mail package as expected for signing of new recast. I have since called Loan Care and XXXX XXXX, and her supervisors many times and been told to wait due to back up of work loads but checks still were not found. I have checked several times with XXXX XXXX and verified that these checks have not been cashed to date. Then it was disclosed that XXXX XXXX is in Florida and Loan Care office that received checks is in Virginia. I have been on the phone with XXXX XXXX, XXXX XXXX, XXXX XXXX, XXXX XXXX and several other employees. I was informed that all costs related to reissuance and cancellation of lost checks would be paid by Loan Care. I can compile an exhaustive list of phone calls and employee names if needed.

As a result of LoanCare determining that checks were lost in their possession I met with XXXX XXXX   Banker XXXX XXXX XX/XX/XXXX re : reissuance of these lost checks, and discussed with Loan Care on phone per UCC section 3-312 that LoanCare should proceed with declaration that they lost checks and must pay 1.5 % surety bond or indemnity agreement and {$33.00} per check for cancellation if within a 90 day period of checks issuance. That totals @ {$4100.00}.

Loancare rarely returns my calls and has not agreed to do this, but has asked that I cancel cashiers check and pay those fees for which I have no funds a and presents double risk of 2 outstanding check according to XXXX XXXX. Double jeopardy problem with the initial checks being payable since a cashiers check can not have a stop payment put on it. Also I have no confidence now in this loan servicing company as I have been told less than the truth and not had my emails or calls returned as promised. I can not seem to break through to a higher level of management although I have requested several times. In the meantime my payments are current but my income has decreased substantially in anticipation of this recast having been completed as agreed in the first quarter of this year. All is coming out of savings. I am paying mortgage interest each month. It feels very unfair that I have to pay for this incompetency, I have no confidence that the same thing would not happen again or that any costs I have incurred will be reimbursed especially after reading XXXX complaints. I hope that retaliation is not an issue.

Documentation including scans of original checks, envelope, letter of intent and certified mail tracking and signature have been sent to Loan Care several times. It is part of my loan file.

As of this morning XX/XX/XXXX no action or resolution per 40 minute phone call with XXXX and XXXX at Loan Care XXXX XXXX both refused to put me in touch with higher management. XXXX requested Uniform Commercial Code 3-312 documents from me. She called me back and states that the research department are reviewing. I have contacted XXXX after reading XXXX reviews. No response.