Loan Care

Report Card
C-
Overall Grade
C+
Mortgages Grade
Loan Care is rated overall in the bottom 23 percentile (out of 100) based on 271 customer complaints.

Statistics

Complaints Currently In-Progress
Complaints per $100K of Deposits
Complaints Resolved in a Timely Manner95.6%
Resolutions Disputed by Customer20.3%
Average Time Until ResolutionUnknown

Financial Report

Owner CorporationNot Listed
EstablishedNot Listed
FDIC InsuredNot Insured
FDIC Certificate #
Number of BranchesUnknown
Total AssetsUnknown
Total DepositsUnknown
Total EquityUnknown
Quartarly Net IncomeUnknown

Contact Information

Corporate Headquarters
Not Listed
Website
Not Listed
Data Summary
Loan Care logo

Grade Summary

Overall, Loan Care received a grade of "C-" based on how quickly the company responded to complaints, how often customers disputed their final resolution, and how many complaints were recieved per customer.

Grades are also broken down by the financial products offered be each institution. Loan Care is rated "C+" in Mortgages. Click on any of the financial products to see how Loan Care compares.

Overview

Loan Care has received 271 consumer complaints since January, 2012 – more than 96% of other banks.

Of those complaints, 95.6% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' Loan Care meets the 60-day response deadline less frequently than 66.9% of other banks.

After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 20.3% of customers dispute Loan Care's response to complaints — worse than 58.4% of other companies.

Most of Loan Care's customers complain about mortgages with the primary issue being "loan servicing, payments, escrow account."

Complaints by Product
Complaints by State
Complaints Against Loan Care
#Financial ProductSub-ProductComplaint IssueComplaint Count
1MortgageConventional fixed mortgageLoan servicing, payments, escrow account96
2MortgageFHA mortgageLoan servicing, payments, escrow account66
3MortgageOther mortgageLoan servicing, payments, escrow account37
4MortgageFHA mortgageLoan modification,collection,foreclosure33
5MortgageOther mortgageLoan modification,collection,foreclosure32
6MortgageVA mortgageLoan servicing, payments, escrow account18
7MortgageConventional fixed mortgageLoan modification,collection,foreclosure11
8MortgageHome equity loan or line of creditLoan servicing, payments, escrow account8
9MortgageVA mortgageLoan modification,collection,foreclosure4
10MortgageConventional adjustable mortgage (ARM)Loan modification,collection,foreclosure4
Responses From Loan Care
#Company ResponseResponse CountTimely Response CountDisputed Count
1Closed with explanation329318 (96.7%)66 (20.1%)
2Closed32 (66.7%)1 (33.3%)
3Closed with monetary relief22 (100%)0 (0%)
Complaints over the Past Year