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.
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."
|#||Financial Product||Sub-Product||Complaint Issue||Complaint Count|
|1||Mortgage||Conventional fixed mortgage||Loan servicing, payments, escrow account||96|
|2||Mortgage||FHA mortgage||Loan servicing, payments, escrow account||66|
|3||Mortgage||Other mortgage||Loan servicing, payments, escrow account||37|
|4||Mortgage||FHA mortgage||Loan modification,collection,foreclosure||33|
|5||Mortgage||Other mortgage||Loan modification,collection,foreclosure||32|
|6||Mortgage||VA mortgage||Loan servicing, payments, escrow account||18|
|7||Mortgage||Conventional fixed mortgage||Loan modification,collection,foreclosure||11|
|8||Mortgage||Home equity loan or line of credit||Loan servicing, payments, escrow account||8|
|9||Mortgage||VA mortgage||Loan modification,collection,foreclosure||4|
|10||Mortgage||Conventional adjustable mortgage (ARM)||Loan modification,collection,foreclosure||4|
|#||Company Response||Response Count||Timely Response Count||Disputed Count|
|1||Closed with explanation||329||318 (96.7%)||66 (20.1%)|
|2||Closed||3||2 (66.7%)||1 (33.3%)|
|3||Closed with monetary relief||2||2 (100%)||0 (0%)|