Requested a payoff in writing for customer. Received confirmation of fax sent to LoanCare. I was informed it would take up to 2 days to receive. After the two days, I contacted Loancare to get the status of request. They stated they did not receive and if I e-mailed it this time, they could expidite. I e-mailed, received a confirmation, called back to Loancare and they could not expidite. So in this technical time it takes Loancare 4 days to do a SIMPLE payoff! No wonder their customer refi so often!!!

LoanCare is by far the worst mortgage company I've ever dealt with. They bought out my HELOC from GMAC and they have been utterly useless. Their statements were 3 pages long for the longest time, and unreadable! Then they would hold onto my payments and put it in other category when I clearly marked principal. Then to make matters worse, they have so far taken 5 months to do the subordination of the loan...where other vendors do it in 2-4 weeks. They have cost me thousands trying to extend my rate lock on the refinance, because they simple do not reply to phone calls and lie as to why things are so delayed. They will even have the guts to say, ohhhh we signed it in the wrong place so we have to start again! This is a horrible company - if you can avoid them - avoid them. I've filed complaints agains them with the BBB and SCC.

Loancare took over a local company that did well for me for about a year and immediately upon "merger" they became a big problem. Time to process payments doubled and a subsequent payment on another related loan became regularly late. My credit rating is in jeapordy, and a lender could forclose even though payments to Loancare were made early. Their mishandling and delays are shocking. Look elsewhere.Photos from this review (click to view)Videos from this review (click to view)