Evan Julian

Review of MyLoanCare

We refinanced our ARM that was with Elements into ...

We refinanced our ARM that was with Elements into a standard Mortgage. They sold the mortgage right away. Fairly normal, but the notice came on plain paper in a hand-written envelope. It took 4 calls and multiple e-mails to get it straightened out over 2 weeks. There were several e-mails afterwards due to the fact that Loancare did not send me my info to be able to pay the loan. I ended up getting this via a phone call, with the account letter arriving 3 weeks after my bill was due.

We are now going on month three, where Loancare notified me that the loan had been sold again. After verification by phone, I was called by Elements the next day about the sale not being accurate, despite the validation the night before. I was then called by Loancare and told that they were "80% sure" my payment should go to them, but he would verify.
There was no call back. I just got the letter stating that this was not the case on Nov 29th. I have paid this month's bill to Loancare .

As of 8:45pm today, I received a notice from Mr Cooper that they supposedly sold the loan to, stating that my loan has in fact been moved to Mr Cooper.

When your home is on the line, this is not a place I recommend you find yourself in.

You actually still service the loan, your company is just a cluster.