Loan Care Mortgage Complaint

Loan Care Mortgage department,

Conventional adjustable mortgage (ARM) Loan servicing, payments, escrow account Texas

LoanCare is reporting I was 30 days late on my mortgage in - - and was sent to the bureaus on or about -. I pay every month, and pay extra nearly every month as safe measure so that my credit is preserved. A senior representative named - ( - ) had told me over the phone on - - that no lates would be reported. On - -, I had received word that -30 day lates were being reported on this account. On -, I spoke with - - and she was unwilling to begin the process of removing all derogatories from being reported, and felt the reporting was accurate and valid. She claims that the note requires I pay each month in full. Since - was short of the full payment, they held this money 'in suspense ' and reported I did n't pay. So they held onto my money and did n't apply any of it to my mortgage upon receipt. Here are the terms stated in paragraph - of my note ( Payments ) : 1 )


I will make my monthly payments on the first day of each month beginning on -/-/- '' & lt ; payment is always received between the - and the -, and never 30 days late & gt ;. 3 ) I will make these payments every month until I have paid all of the principal and interest and any other charges described below that I may owe under this Note. Each monthly payment will be applied as of its scheduled due date and will be applied to interest before Principal. If, on - -, -, I still owe amounts under this Note, I will pay those amounts in full on that date, which is called the Maturity Date. '' '' & lt ; in compliance to-date & gt ;. 4 ) Each of my initial monthly payments will be in the amount of U.S. $960.00 '' & lt ; I always pay over that amount & gt ;. So, the note terms have been met, but they are unwilling to change how my monthly overages are applied, as well as apply money that 's been sitting in 'suspense '. This is a violation of my Fair Lending rights and the rights of others whom they have extended credit. There was one incident which may have provoked this. I changed banking institutions that month for my personal checking account. Through online bill pay, I requested - of - payments to go out in the amount of $1000.00. - - - - sent the check out from their warehouse to LoanCare. LoanCare made ONE ATTEMPT ( verified by the credit union ) to deposit this check and it was denied by the credit union. The credit union admitted they made a mistake, but did n't know why a - or - attempt was not made. Attached, is a letter from them stating their error. Even so, I 'm still in compliance to this note. If extra monies made each month were made in whole or part to escrow, I should also still have more than the minimum required in there, too.