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Loancare Servicing Center Inc / mortgage servicing

Virginia Beach, VA, United States Review updated:
Contact information:

Like many of you on here my loan was sold (9/1/2016) to this company. To date they have yet to pay my propery insurance and i'm having zero luck getting in touch with them. I called and left vm's, sent emails and sat on hold many time. Currently on hold for 1:05hrs and counting. What recourse do we have? Is there a gov or state agency that can lean on this company? I jumped on my linkedin this morning and sent connect request to every senior leadership title in the company. I have perfect credit and have never missed a payment... Ever... Help

  • Updated by JackH13, Jan 04, 2017

    Update 01/01/2017

    Wanted to give an update on my posting in hopes that it may lend value to another reader. I received word on 10/9 from my insurance that my policy had been canceled for non-payment. I expected as much given that I spent considerable time trying to get in contact Loan Care in the previous weeks, but was not successful. However, my low exceptions of service from this company didn't deaden the horrified feeling of realizing that my biggest investment was now without coverage. I promptly called eSurance and had the policy reinstated. The full cost of the policy was paid out of my personal funds and as of this writing Loan Care has yet to send me or eSurance a check to reimburse me. This has whole situation got me thinking of what would happen if I could not cover the funds in have escrowed. I've been very blessed and I'm able to cut a check to cover the insurance without the risk of missing payments on my other obligations. Something I'm very grateful for. But, what if someone does not have the same ability to pay their insurance out of their pocket? What if something happens to their property that causes significant damage or, god forbid a total loss situation. I've decided to take the steps to file a complaint with the State Of Kentucky and the Federal government. I would strongly encourage anyone that feels they have been wronged with looking into your options State vary on the process, you'll need to Google to find out or visit your states site. The process to file a complaint with the Feds is very straight forward; though the agency will very depending on the type of complaint. I'm not sure if Complaintsboard strips website url's so i've pasted below text from the usa"dot"gov site.

    If you feel that you have been the victim of a discriminatory lending transaction, you can contact the Federal Trade Commission (FTC) or file a complaint using their Online Complaint Assistant. The FTC has enforcement authority in the case of mortgage companies for the following laws:

    Equal Credit Opportunity Act (ECOA)
    Truth in Lending Act
    Fair Credit Reporting Act
    You may also file consumer complaints using the following resources:

    Consumer Financial Protection Bureau (CFPB)
    State/local consumer protection agencies

    I've yet to get anywhere with Loan Care, but I'm hopeful that this information might help someone out. There used to be a time when you had to service your customers to keep your doors open. What happened?

Ja
Oct 10, 2016
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Comments

  • Mo
      Oct 12, 2016

    Thank you for contacting LoanCare about your experience. At LoanCare, customer satisfaction is something that we take very seriously and would never compromise under any circumstances. We welcome the opportunity to correct this situation in a timely and efficient manner. Please contact us privately at Customer.[protected]@myloancare.com with more information so that one of our dedicated Mortgage Resolution Specialists can work to resolve your concerns. We look forward to hearing from you and appreciate your feedback. Please reference complaintsboard in the subject line.

    0 Votes
  • St
      Oct 28, 2016

    I am also in the middle of a nightmare dealing with this company who purchased my loan effective 8/1/2016, did not communicate with me, misapplied my 3 payments to other accounts, reported me to credit bureaus as 60 days late, has failed to account for $14, 000 missing from my escrow account. I filed a complaint with CFPB and also with the State of Texas because that is the property address. They then reported the issue as resolved when it is not, and removed my online account access as of today.

    0 Votes
  • Cl
      Dec 02, 2016

    This company took over servicing my loan back mid 2016. It is the 4th one that I have dealt with. I had been paying into escrow every month and then noticed that it had a 3, 300 dollar negative balance last month. They claim they never received the Homeowners Insurance info so they had to put me on forced place insurance which is outrageously priced. Meanwhile, my personal policy had lapsed due to nonpayment. All the previous banks had no problems paying my personal homeowners out of my escrow. Now my monthly payment has increased by 40% to compensate for the forced place insurance. There customer service keeps running me in circles and trying to confuse me. Absolute nightmare!

    0 Votes

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