Lakeview Lone Servicing review: Mortgage loan

Loancare failed incorrectly imposed a late fee of 81.22. In addition to the incorrect late fee, LoanCare reported us to the credit bureaus without notifying us that our mortgage had increased to 2444.75 from 2359.79 and that they put this into effect on June 1, 2023, without communication.

On August 5th, We received notification from a different company, my credit card company, who stated via email that our credit scores had fallen. After researching through this Bank, We discovered that Loancare reported that we did not make our monthly mortgage payment which caused my credit score to drop by 136 points and my husband's to drop by 116 points. My husband sent the payments of $2,359.79 on 7/7/23, and $2,359.79 on 6/8/23. Each payment was made timely before the 15th of each month. Our bank account shows that both these payments cleared and that Loancare received the payments.

After learning of the increase in payments, we immediately paid the balance. After calling Loancare, the representative on the phone stated that our mortgage insurance and taxes had increased resulting in a new payment amount of $2,444.75 which had started in June. Our payment had been received timely but because it wasn’t the full new payment, it was placed in a separate account so that LoanCare could unlawfully make an egregious report to the credit bureaus.

Loancare stated to us that we were given a grace period of 30 days from June 1st to start making the new payment. This was also not communicated to us. How can we have a grace period, when we were never told? How can we be punished so severely for what Loancare has deemed as an underpayment of less than $100 for the month of June and July when we were never told? We told the company that we had yet to receive notice of the change. Loancare stated that they only sent a letter. We still have yet to receive a letter to this day about the change in our mortgage. LoanCare also did not send an email to either of the email addresses on file and they did not call, despite using this information as a requirement to ask us about our accounts when we call.

My husband immediately paid the balance but refused to pay the late fee because Loancare did not notify us of the change in our mortgage. Melanie R. the representative on the escalation team stated via phone call on 8/14/23 that it was our fault because we used a 3rd party billing through our bank and that we should have used Lonecare’s company by giving them access to our bank account. This is a strong-arm tactic to force us to give LoanCare direct access to our accounts.

We have a history of making 100% timely payments even when changes have occurred. We have tried to peacefully resolve this with the company, and have contacted LoanCare for resolution on 8/5/23, 8/10/23, 8/15/23 and have yet to hear from a supervisor and are told each time that we have to wait for a supervisor to contact us within 48 hours. No supervisor has called and our phones do not show a record of any call returned, neither voicemail or phone record on either phone number on record. We have sent a letter on 8/15/23 via mail to the following address

ATTN: LoanCare LLC

Credit Disputes and Late Fees

PO Box 8068

Virginia Beach, VA 23450