LoanCare Reviews 

Let me start out by saying that in 10 yrs I have never missed a Mortgage payment.  My Loan started out as a FSH loan, where they sub vented it out to Lake View, then finally with Loancare.  In Jan of 2024 I had loss my job, so I called Loancare for the mortgage assist program, through the advice of the Loancare rep, I was advised that the Mortgage assist program is not available to customer who are current on their mortgage, so I had to go 60 days behind on my mortgage which I thought it would give me a cushion.  After review from Loancare I was approved for the Mortgage assist program, which took about 3-5 months.  The assist program lowered my payment to $2700 a month, I didn't read the fine print, I get paid every 10th of the month so I call to set the payment up when I had gotten paid. If you miss the 1st payment you are then in default on the whole loan, and then Loancare will charge all the total payments and fee's. If you can not come up with the astronomical amount Loancare then will start the proceedings for foreclosure. After receiving all of this Information I decided to sell the house which I thought I had a lot of equity in the home. I then called Loancare to get the official payoff for the Loan.  I spoke with a rep to see if my HELOC was included in the final payoff which the rep assured me that the payoff included the payoff for the HELOC. I know that the phone calls are all documented. I then put my Home up for sale in Aug. which it sold in one day, so my house was under contract.  Through the advice of my Realtor he stated if I called the Mortgage company and told them that if my house was under contract the would not put me in foreclosure which I found out later that that was not true. Loancare started the foreclosure preceding Aug. 20th I called Loancare Aug. 4 2025 and Aug.14 to inform Loancare of my closing.  The phone conversation with the rep on Aug.14th 2025 for the official payoff which the rep from Loancare told me the payoff included my HELOC now I am thinking I am going into closing receiving a equity check, my payoff was $439,000 and I sold the house at $690,000. My Realtor did not catch it nor did I.  I closed in the 8th of Aug. 2025 which got pushed back to the 10th of Aug.2025 so Loancare then sent the foreclosure to a Attorney who issued me a letter on Aug. 9th 2025 which was one day.  Loancare received their full payment $439.000 now rejected it because of the Attorney fee of $2000.  I then called for a Foreclosure reversal because it had been documented through taped phone conversations which the Loancare escalation team had reviewed and informed me Fri. Aug.12th 2025. with the Rep Bill that my case was under Review through another department "Default Resolution Team.  I followed up Monday Aug 14th. the rep. who said there no recollection of our conversation with Bill. After being on the phone for at least a hour, she then informed me of the conservation with Bill and Mentioned that it was still under review with Default Resolution Team. I am getting all kinds of threating emails from the Foreclosure Attorney for their fee of $2000 threating to send my payoff payment back. --

“I provided LoanCare with valid proof of my HOA Master Hazard Policy, which they accepted and posted to my account. However, the lender-placed insurance policy has not been removed, even though I was told by their agent that it would be. This has caused confusion and unnecessary stress. I encourage LoanCare to improve its communication with customers and ensure lender-placed coverage is promptly cancelled once valid proof is received.”

If there were anything less than one star, this joke of a business would get it. Twice I've had damage to my home. Twice I've literally had to fight them to get the money my insurance company expeditiously paid to have my home repaired. The first time the damaged happened, I had to live in a hotel for 85 days. I went through three contractors because no one is going to work for free. The most recent claim I've had to deal with them on was a roof replacement from hail damage. I did my part. I sent in all required documents. Here it is over two months post damage, and i can't even beg the loss draft department to send me the money. The contractor is literally taking me to small claims court over non payment and I'm surer I'll owe court fees and any attorney costs. Just more money this business has cost me. The employees that I've had to deal with have been nothing short of amazing. I have zero complaints in that aspect, but they can only do so much. Avoid any mortgage company that uses Loancare for their servicing department. Avoid it like your sanity depends on it. Because it does.

For the past three months, my mortgage payment has been messed up. I think I have "the issue" in the system resolve, and something else is not set up correctly for the next payment - some new piece of information is not set up. And each time, another $64.11 Late Fee needs to be be disputed. Enough already! 45 years of mortgages - 6 homes and refinances and never a late payment. This outfit is a nightmare to work with, total garbage of product.

I wish I had realized that Loancare would be servicing my mortgage. They have caused me significant stress as well, and I regret the day I ever took out a mortgage that was going to be serviced by this company. I think their employees must be incentivized somehow to push good customers into foreclosure because they make accidental-on-purpose mistakes and decline to fix them. Also, their standard business practices seem to be to operate in a manner that is not in the best interests of the customer. At this point, I am not sure what is going to be necessary to resolve the situation. Do your due diligence on the mortgage servicer before taking out a loan. I sure wish I had done more due diligence.

This is my seventh mortgage in last 20 years and by far this is the worst lender I had ever work with. Loancare will manipulate your funds all day long. Their list of administrative fees is pages long, they will manipulate your non applied funds, your escrow, your payment due amount month after month to their benefit. They are loosing and/or not paying my insurance premium every single year despite multiple reminders from my agent while sending nice (automatic) emails that my account is up to date and they received all documentation. I had to reinstate my insurance and pay the priemium from my packet instead of escrow and wait 10 months for refund! Read your statement in detail, it is like you are a fine print slave now for the next 30 years. Save yourself, your money and your future and refinance out of them on the first opportunity. I don't write too mamy reviews but my battle and frustration is taking a piece of my otherwise peaceful life and I found myself obligated to write this unfortunate review to save my brothers and sisters from Loancare misery.

This company is absolutely the worst! I hate that my loan was transferred to them. I entered into a repayment agreement for one month while I was facing hardship and set up automatic drafts as agreed. However, my escrow payment increased significantly, which raised my monthly payment. Instead of notifying me about this change, I was hit with missed payment notices because my prearranged auto-drafts which I was explicitly told I couldn’t cancel once scheduled were no longer enough to cover the new amount.

This led to late fees being added every month without any communication from them. When I contacted the company, the automated system said I was only $78.35 delinquent, but online it showed I was a full month behind on my mortgage. Every representative I spoke with gave me a different past due amount, and I couldn’t understand where any of them were getting their numbers from. It’s frustrating beyond belief!

Additionally, the escrow minimum requirement is a joke, and the way they apply the escrow portion of each mortgage payment is inconsistent and confusing.

This company is a complete disaster and honestly shouldn’t be in business. I’ve even started recording every conversation with their reps because the information they provide is so inconsistent and unreliable.

Absolute piece of trash of a company. They owe me an escrow refund and are pretending to have paid and blaming my lack of receipt of the funds on the US Postal Service. Its almost like dealing with someone who doesn't have the money and is making up lies. I don't think they plan on paying - just extending the process and hoping I forget. STAY AWAY. I'm beginning the refi process today!!

The employees at Loancare must eat nasty pills before arriving at work. They have the meanest customer representatives I have ever dealt with. They are unknowledgeable and rude. But perhaps that is to be expected when we as customers do not have the option to change loan servicers. Escrow dept has NO idea what Insurance dept is doing when dealing with the same loan. I asked for notes to be put in file and they do not get there. I asked for escrow to be reviewed and NOT make insurance payment because I paid it myself. 2 weeks later the buffoons pay it. They claim all calls are recorded but when asked to review the call, they decline. Why? Because they know they are rude, incompetent and would be retrained or fired for treating "CUSTOMERS" the way they do. Pitiful excuse of a company.

I borrow 300dls then I pay already 240 now I need to pay 715 dls more im super stress and this appointed I regret why I borrow 300dls

James is great to deal with always so quick to respond and very understanding!

James has been nothing but amazing with me and my loan. He has helped me through some very difficult times with no hassle. I highly recommend loan care

This company is a complete scam. I wish we were in the position to refinance at a higher rate just so we can work with a different mortgage servicer. We began the process of a loan modification and after completing all their requests on time and without error, we were awarded the modification, only to later call and be told that underwriting was missing a page a from our packet, and they are now planning for foreclose on our residence. Not one time were we ever notified of anything being missing from our packet (via telephone or in writing). We've called countless times and spoke to various reps (who by the way always provide conflicting information) and were always quoted the modification amount when calling to make our mortgage payment. If we weren't approved for the modification and underwriting was missing a page, wouldn't they have told us that when we called to make the payment or at least give us our regular mortgage amount as the payment amount??? However, after reading other reviews, we see that this is their scam; they wait for the 6-month mark and make up lies so they can enter your property into foreclosure. Apparently, from what our attorney says, many unlawful businesses do this as a way to double dip (foreclose on your home and take the equity and whatever thy can get for the sale price and then leave you with a large bill). We are taking immediate action to put an end to this. We've contact the CFPB, HUD, and our state consumer protection office to assist in the matter. We have also reached out to our local media outlets to raise awareness of this injustice. We recommend others do the same.

Very good and fast services easy to get loan with loan care I recommend to everyone the need help thanks loan care.

I paid my mortgage online August 3. The funds were not withdrawn from my account. Whenever I looked online to see payment status, the website was down for maintainance. I mailed a check for the same payment mid August. Despite being in receipt of the front and back of a check, endorsed and cashed by LoanCare, as well as an unadultered pdf from my bank showing a positive running balance before and after the transaction as requested, and a promise from LoanCare that there would be a "decision" Sept 6, my account is marked delinquent, and as such I am unable to make payments online or by phone. I spent $60.00 to western union a third August payment to them on August 30 just to avoid a credit impact. There have been countless telephone calls and emails with no resolution.

As of Sept 11, my account has not been credited and there is no indication of how to proceed or when their investigation might be completed. Im struggling to understand why I would mail another payment to a place that still hasnt found the last one. I am also wondering how common is the practice of a debt collector to refuse funds that are being offerred.

I sure wish I had read the reviews here, but since I had no input into who bought or serviced my loan, it would not have made a great deal of difference. I am just absolutely fascinated by this process of no control over who handles my largest financial matter or requirement for them to be competent or communicate. Loancare has given no indication of regret or urgency on their part and does not seem to care to resolve this. It is just crazy to me that I made a payment, have the receipt, it is not acknowledged in a timely fashion, but LoanCare gets to unilaterally charge fees, affect credit scores and keep their job.
My whole life, I thought a check was a receipt of a transaction. I had no idea that you could cash a check, deny receiving it, and refuse to acknowledge proof of recipt. I feel like if I was the one that was trying to extort an extra payment or requiring payment in a certain way that occurrs large fees, it would be some sort of fraud. I also thought LoanCare had a fiduciary duty to act in my best interest, a responsibility to minimize costs of servicing my mortage and an obligation to provide assistance when requested. Good luck, everyone.

Don't do business with these people. The worst I've ever dealt with. Choose anyone else and you'll be thankfull.

the absolute worst mortgage insurance company out there, too many problems to recount. They will not give us our money to rebuild our house. The insurance company issued the check months ago, but they obviously have stuck that $300k in Loancares account making 5% interest. Now when we call they just put us through the ringer, “the supervisor is unavailable” , nobody can help us.

For the life of me I don’t understand why Loancare is so incompetent. I have a great deal of patience as I have been in the mortgage industry for over a decade and I have seen a lot. This is why I stay on top of my mortgage. I got laid off in March so I had to contact them regarding my different options. I already know how they operate so I made sure I stayed on top of them throughout my moss mitigation proceeds. Customer Service NEVER knows anything and continues to give incorrect information. I asked probing questions and asked for clarification because I knew they were wrong. I asked to speak to Loss Mitigation they advised me that they could never transfer me which was also incorrect because 1 day I finally was transferred and even they probably incorrect info. So now my loan is a month behind and I have paces BBB and CFPB complaints and nothing. Even still calling Customer Service and them still giving incorrect information. I am submitting a complaint with the Attirney General today and will have to spend money I don’t have on a lawyer now for one little payment that they will not correct that they can. With all the FCRA and CFPB violations this company has recently had I don’t understand why they are still in busy and companies are allow them to subservice their loans. It’s ridiculous.

lack of payment options - I was told I could walk in and make a payment at my bank I opened the loan with. False. I was told I can make a payment over the phone. False - I would have to give them my personal backing account information they already have on file all over again. The only other option is to log in online. I don't have internet. I live 40 minets from town where I go to a library if I need internet.
First Federal Bank did not warn me before the closing that they use such a customer poor company. Had I known #FirstFederalBank used LoanCare I would not have used them for my home loan.

Loan care was very quick and efficient with getting my loan approved and sending me my funds. If you need money quick, I would go to loan care. They also are very good with working with their customers.