Consumer complaint received 2020-10-27 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: LoanCare, LLC
State: FL

Complaint narrative:
In XX/XX/2020 I changed insurance carriers for the property associated with this loan. In that process, I paid the annual premium to the carrier. XXXX XXXX, who then sent the information to LoanCare indicating that they were insuring the property. Although the premium had already been paid, LoanCare incorrectly paid the premium again.

Prior to this transaction, and unknown to me, they had already paid the annual premium to the former insurance carrier. Ultimately, that premium was returned to me.

However, as a result of incorrectly paying the premium on the new policy, the low escrow balance triggered a new analysis of the escrow account resulting in an increase in the escrow and thus the payment of {$51.00}. 

XXXX. As soon as I received my XXXX statement and found the increase, I called LoanCare to get an explanation and get the problem resolved. The customer-no-service personnel were less than helpful. The first person I talked to, XXXX, would not listen and could not comprehend the situation so I requested a supervisor. I was put on hold for over 40 minutes at which time the call was disconnected. 

I called back and spoke to XXXX in the insurance area. She indicated that check number XXXX had been sent to XXXX and had been cashed so they could not stop payment. She indicated that as soon as XXXX realized that the payment had already been made, they would refund the payment. However, I found out later that XXXX never received the check. 

XXXX. I called to get an update on the status of the refund. After being on hold for over 50 minutes, I spoke to XXXX. She was no help. She could not provide any pertinent information or status. 

XXXX. I called to get an update since it had been a month since my original call. I got a recording and requested a call back. 

XXXX. I received a call from XXXX, a resolution specialist. He was not able to help, so I requested a supervisor. 53 minutes later XXXX XXXX came on the line. She could not provide a solution, but said she would research the issue and call the next day. She did not call back. 

XXXX. I called and spoke with XXXX and asked to speak to XXXX XXXX ( manager ). I was told he was busy, but would call within the hour. He never called. 

XXXX. I received a call from XXXX XXXX ( XXXX ). He indicated that he would be my point of contact going forward and would keep me posted on the status. He said that he had the cancelled check showing that XXXX had cashed it. I stated that I expected the account to be corrected retroactively as if this error had never occurred. 

XXXX. Having not heard anything in weeks, I called Mr. XXXX. I left a voicemail but did not receive a call back. 

XXXX. Having still not heard anything, I called Mr. XXXX again. I left another voicemail but did not receive a call back again. 

XXXX. I received a call from Mr. XXXX telling me that the funds had been deposited into my escrow account. 

XXXX. I left a voicemail for Mr. XXXX reminding him that I expected the account to be corrected retroactive to their error in making the payment to XXXX, as I had requested above during our initial conversation. He never responded. 

XXXX. I left another voicemail for Mr. XXXX, but he has to this day not responded. 

As recently as the XXXX statement, the account has not been corrected. The additional {$51.00} per month should have been going to pay additional principal which would reduce the interest expense for the remaining term of the loan. The increase is escrow was an inappropriate adjustment based on the error LoanCare made in paying a premium that had already been paid, and then taking almost 3 months to finally replenish my account. However, they have not readjusted the payment nor have they retroactively corrected the account. 

I request your assistance since LoanCare has refused to fix the problem to my satisfaction and are ignoring my calls.

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