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LoanCare LLC

  1,716 inquiries |
Mortgage Bankers

3637 Sentara Way
Virginia Beach, VA 23452
| Get Directions

(800) 274-9900

http://www.loancareservicing.c...

customersupport@myloancare.com

Company Rating

D

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Customer Reviews

based on 12 reviews.

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Complaint Experience

33%

Complaint Resolution Index (CRI)

6 complaints closed in last 3 years.

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Membership Information

This business is not a member of Business Consumer Alliance. This fact does not disparage the company in any way.

Recent Review

Posted on 8/16/2021

DISHONEST, lie and cheat

The WORST, yet I am forced to deal with them as my mortgage was shuffled and sold to third parties many times over. They claim to help, yet overcharged me THREE times for escrow and lied about mailing me back the overpayment (they took 6mos to get that check to me)! THEN, they advised to make extra payments to principal, yet do NOT APPLY it in a timely manner. I had sent them $2000 on 3 occasions to go towards "principal only" over the last months and they only accepted ONE, while the others are "held in suspense"?!? When asked why it was not then resent to my bank...no answer --- they LIE AND CHEAT. They also do not follow up with requests (like a payout letter). And after reading others here who did indeed pay off but never had the lien remove?...you can be sure that I'll be lawyering up. AVOID if you can. UPDATE DEC 2021: I paid off my mortgage in October (good riddance!) only to find that they have not paid any of my property taxes since MAY! The city hall clerk showed me the printout for proof...WHERE did all those monthly escrow payments go?!? I inquired...dead silence from their end. This company is EVIL.

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Complaints and Resolutions

Total Amount in Dispute:
$1,304.00

Total Amount Settled:
$0.00

Complaint Experience

33%

Complaint Resolution Index (CRI)

BCA's Summary and Analysis:

Our complaint history for this company shows that the company responded to and gave proper consideration to most complaints. However, one or more complaints are unresolved meaning the company failed to properly address the complaint allegations or their response was inadequate.

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Complaint Closing Statistics

6 complaints against LoanCare LLC closed in last 3 years.
Complaints Type of response
0 Making a full refund, as the consumer requested
0 Making a partial refund
2 Agreed to make an adjustment
0 Refusing to make an adjustment
1 Refuse to adjust, relying on terms of agreement
3 Unanswered

View summaries of the complaint descriptions and responses.

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Other Information

Company Info

LoanCare is among the three largest subservicers in the industry. We have developed a number of processes and technologies that enable us to offer the highest quality subservicing program available in the industry today.

Primary Contact: Earl McPherson (Chief Executive Officer)
Business Started: 10/17/1983
Social:

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Licensing

We know of no licensing or registration requirement for companies engaged in this company's stated type of business.

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Government Actions

BCA has no information regarding government actions at this time.

Comments and Analysis

We have no further comment about this company's business practices or analysis of its offer that may assist you in your consideration of this company.

Other Considerations

We know of no other matter or practice relating to this company that may assist you in your consideration of this company.

Industry Resources
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Additional Info

DBAs:

LoanCare Account Servicing
Loan Care Servicing Center
LoanCare Servicing Center

Websites:

Contacts:

Nellie Freeman (Mortgage Resolution Specialist II)
Customer Support

Addresses: