Loan Care Mortgage Complaint

Conventional fixed mortgage Loan modification,collection,foreclosure

Loan Care Mortgage department,

Conventional fixed mortgage Loan modification,collection,foreclosure California

There was a preforeclosure on my home -/-/2014. The loan was subsequently sold to another lender and the original lender was paid off and the account was closed. I agree that the loan foreclosure proceedings started but did not complete and that that it should reflect in the history. However in the current status the loan shows as foreclosure. This is incorrect and should be reported as closed or transferred not Foreclosure as indicated on the report. I have submit documentation to both credit reporting agency - and the lender and both seem to believe that Foreclosure is the correct status. While the loan transfer shows correctly with - and -, the mortgage company and - refuse to either correct or delete the tradeline for inaccuracies. - currently shows this as a foreclosure not a transferred loan. The notes are correct the current status of this Loan with LoanCare is transferred not foreclosure LoanCare refuses to update their or resubmit the appropriate code that shows transfer even though they acknowledge no Foreclosure occurred. LoanCare refuses to correct the report to show transfer closed.

Loan Care customer in California
Apr 23, 2016

* Source: CFPB Complaint Database

Loan Care response to complaint:
Closed with explanation

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