Terrible company. Took me a month to finally get my payoff request. They kept sending me escrow paperwork, which kept screwing up my closing! To make matters worse, I got nailed with $15k in "fees" for paying off the $192k mortgage! Should be illegal!!!! Whatever, I'm happy to be done with that mess.
Absolutely and I mean ABSOLUTELY terrible company. After speaking to 5 reps and a manager, I am convinced that none of them understand escrow and simple mathematics. They aren t willing to help. They are overwhelmed and poorly staffed with incompetent, no service oriented employees. The 1.5 star average rating is EXTREMELY generous. There time will come. Big time loser of a company. I d be ashamed of myself if I worked there.
As a realtor, I'm working with a client that has their loan with this lender. The property they are selling is under contract and was supposed to go to settlement on Sept 10th, here we are 7 days later and we still have not received the payoff this lender is REQUIRED to provide in a timely manner - timely means 24-48 hrs, not 5-7 days. Never in my 11 year career have I experienced such TERRIBLE customer service with a lender, and the title company has never had trouble in 35 years getting a payoff from a lender until now. We've had to extend this deal twice now with financial casualties for both buyer and seller and it is this lender's fault that it's happening because they do not respond and in fact they lie on top of it as they told both the title company and the loan holder that they faxed the payoff to the title company and emailed it to both loan holder and title company, neither of which they did. They may service your account just fine, by taking your money for payment, but reverse that when you are trying to sell your property or refinance. BUYER BEWARE, DO NOT USE THIS COMPANY
I have no more words to describe how poor is the service provided by this lender. I have done my best to resolved previous issues with this company, resulting on them rendering apologies and promising to do better the next time. Today I finally reached my limit. Hopefully I will find a better mortgage company in the upcoming months, who is capable of handling my affairs in a truthful manner.
7 Sept 2021 (Update) Now they refused to provide assistance via phone, twice by hanging off, or placing customers on hold for extended periods of time. ***** NEVER TRUST THIS COMPANY*****
The quality of service is getting much worse as the dates go by. Soon my mortgage matters will be in better hands.
I haven't had to personally deal with anyone there yet but our payment gets taken out every month. I can see the amount we owe slowly decreasing. As long as we're paying it and the monies are being applied as they should we are happy campers.
Absolutel joke of a company. TRIPLED my mortgage payment because they messed up with escrow. A ten thousand dollar payment I made in March only shows 5k payed. Been on the phone with them multiple times a month for almost six months to resolve the issue to no avail. And somehow my balance on the principal has INCREASED to almost as much as the initial loan. Very close to getting a third party involved to figure out where my money is going and why nobody on the phone can answer a single question without transferring me to the wrong department. This company is very close to a catastrophic collapse at this rate.
I have tried several times for months to get them to resolve an issue with the website and my payments and up to this day I'm still getting the same issue. They call me all the time and when you pick up the phone it's an automated system telling you to call them back and when you do they don't answer the phone. I'm highly considering changing them to a different company with better customer service and faster delivery.
During these trying times of the pandemic you would think customers would understand that companies like LoanCare may be understaffed, over loaded and are trying there best to find people that want to work. Consumers should try to understand and have a little patience, their accounts will be resolved.
I am very pleased with their services.
Horrible service, do not recommend. This company should be ashamed of its self for taking advantage of people. Stay away
Loancare overdrafted my escrow account and increased my mortgage by $476 per month. I spent the better part of 30 hours on the phone listening to customer service reps, "managers", and escalation representatives tell me how they couldn't do anything to help me, but if I didn't pay the extra $476 a month, I would be hit with fees and a credit penalty. This lasted from September 2020 to February 2021.
They finally announced they had figured it out in Feb of 2021. THEY SENT THE CHECK TO THE WRONG ADDRESS. I had to wait another (4) months before they figured it out. In that time, I ate a $6,000.00 refinance closing cost to get away from them. Best money I hated to spend.
I'm on the phone as I write this and I just found out they MAILED THE CHECK TO THE WRONG ADDRESS AGAIN! This is the most ridiculous company I have ever dealt with. I am going to reach out to the Virginia Attorney General's Office. This is the most "legal" criminal thing I've ever seen.
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