Consumer complaint received 2019-10-12
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: LoanCare, LLC (IN)

The lender failed to provide a payoff statement and payoff instructions on multiple occasions, obstructing payment while charging interest. The lender then refused to respond to our complaints regarding this issue. 
OnXX/XX/XXXX I requested a payoff statement from my lender for a payoff on XX/XX/XXXX through their web interface and received an e-mail with confirmation number XXXX regarding my request. Both their website and the confirmation e-mail I received stated it would take three business days to fulfill this request. The lender did not fulfill this request as committed.

OnXX/XX/XXXX I called their customer service line because I had not received the payoff statement. Their customer service representative was unable to explain why I had not received the requested payoff statement and was unable to provide me with a payoff statement. The customer service representative stated they could not provide a payoff statement for XX/XX/XXXX but that they could provide one for XX/XX/XXXX. They committed to providing a statement for XX/XX/XXXX in the next 24 to 48 business hours. The lender did not fulfill this request as committed. 
On XX/XX/XXXX, more than 2 business days after the previous call, I called their customer service line again. The customer service representative was then able to provide me with a payoff statement dated XX/XX/XXXX and payment wiring instructions. The payoff statement was received by e-mail on XX/XX/XXXX at XXXX XXXX EST. The attached wiring instructions included the arbitrary stipulation that funds must be received by XXXX XXXX EST on XX/XX/XXXX a detail they had not previously disclosed. 
The lenders failure to provide the payoff statement and paying instructions as committed left me with inadequate time to prepare the funds for transfer. On Friday XX/XX/XXXX. At XXXX XXXX EST I was able to wire the payoff funds. Although the funds were in their custody, the lender continued to charge interest on the loan until they processed the funds until Monday, XX/XX/XXXX. On Monday, XX/XX/XXXX the lender withdrew money from my escrow account in the amount of {$73.00} without notifying me and without my permission. They took these funds claiming that they were entitled to them as interest accrued on the loan between XX/XX/XXXX through XX/XX/XXXX.

On XX/XX/XXXX I spoke with a customer service representative and explained the following : the lender failed to provide a payoff notice in a timely manner as committed on two occasions ; when the lender finally provided a payoff notice they imposed an arbitrary deadline for receipt of funds that reduced an already tight window for making payment ; although the lender failed to meet their commitments to me by days and by hours, they charged me three days of interest for being 20 minutes past their deadline. In response to these problems, I requested the lender reprocess the payment as received on XX/XX/XXXX and refund the {$73.00} taken from my escrow account. The representative took the time to type my request into their system and told me they would submit the request for review.

On XX/XX/XXXX I called the lenders customer service because they had not responded to my request. When I spoke with a customer service representative I asked if they had record of my request. They did not answer my request but instead connected me with a member of their management team. I again explained the situation to the manager. He took the time to enter my complaint and request into their system. He told me that my request would be escalated to a team who would review all the records of the account and work towards resolution. It is now XX/XX/XXXX and I have not heard any response from them.

Since my original request for a payoff notice made on XX/XX/XXXXe lender has failed to meet two commitments to provide me with the necessary payoff information, and they have failed to respond to my inquiries and requests on at least two other occasions in the time they committed. Their customer service is evasive and unresponsive, repeatedly committing to get back to me with answers and then failing to do so. Their actions suggest that they have intentionally obstructed my efforts to payoff my loan while continuing to charge interest. I am now insisting upon a refund of {$140.00} all interest accrued after XX/XX/XXXX, the date of the original payoff request.