Headquartered in Virginia Beach, Virginia, with a second operation in Jacksonville, Florida, LoanCare is among the three largest subservicers in the industry. Over the years, we have invested heavily in servicing expertise, advanced systems and technologies that support not only the servicing of performing loans, but non-performing loans, as well. We have developed a... show more
LoanCare Reviews
The WalletHub rating is comprised of reviews from both WalletHub users and ratings on other reputable websites. The rating was last updated on 04/10/2025.
1.3
1,831 reviews
from WalletHub and across the web
1,831 reviews from WalletHub and across the web
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LoanCare
Laura Gorman @flalaurie218
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1 Star Rating
Worst Company ever! They have had $70,000 of my insurance money since February 5, 2025, and would not release any. I was told that I had to pay out of pocket 25-40% to fix my home after Hurricane Helene. Who has that kind of money after losing their home and everything, then having to pay rent? I complained and complained and got nowhere. I had to borrow money from my family while having to pay rent on top of my mortgages. The home was inspected by LoanCare, and it stated 60% completed. After weeks of complaining that I needed funds to fix my home, so I did not have to pay rent any longer, and that this process was severely affecting my health (I have cancer), I was told on Monday, March 31, 2025, they were finally going to send me $48,784.05. But when I received my check on Friday, April 4, 2025, it was only $7,320.14. I was furious and had already submitted over $23,000 in paid invoices and receipts. I will continue to reach out to the Attorney General, LoanCare, Mission Servicing, Wright Flood, 8 on Your Side, and any other person I hope will help me with this.
P.S. I also lost my home to Hurricane Idalia and had no issues with getting funds to fix my home until my NRL mortgage was sold to Mission Servicing/LoanCare. Losing your home twice in a year and being sick is the worst thing that has ever happened to me. I just want to go home!
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Product: LoanCare Conventional
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LoanCare
Tracy Griffin @tag324
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1 Star Rating
The Absolute Worst Mortgage Company - Ever! Horrific customer service, and this business increased my mortgage payment even though I have enough money in my escrow account! I have spent numerous hours trying to get this fixed. BBB contacted! The next step is a lawsuit!
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Product: LoanCare Conventional
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LoanCare
Penny Summer @michelletrntn
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1 Star Rating
Absolutely horrible. They took over my mortgage on March 3, 2025, and just like all the other reviews, we also experienced rude, ignorant customer service representatives and supervisors. They wouldn't let me speak, left me on hold for 30 minutes and just wanted to argue the whole time. Can't imagine what is to come. Wish we could give a zero.
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Product: LoanCare FHA
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LoanCare
lou Edwards @louielou609
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1 Star Rating
So my mortgage was sold to this company, LoanCare. They sent a letter stating that my mortgage is due on the 1st, but this month (March) it was due on the 13th. I registered online for an account and the website states that my mortgage payment was due on the first. So I go ahead and pay it. A few days later, they take out another payment on top of the one I had already made. I contacted customer service via phone and they said I could send in screenshots of my bank account to prove I paid more than once and I would get a refund. However, they told me I had to send in the picture via email. The company then tells me via email that I need a positive balance before I can claim a refund, which they did not tell me over the phone. And also I cannot send in screenshots it has to be a bank statement via PDF file. My next payment isn't due for another 2 weeks, so an overdraft fee will occur, which they will not be covering. So I have to wait inconveniently to get this said refund. And I have to wait a whole month to get my full statement in a pdf file provided by the bank. Terrible company!
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Product: LoanCare FHA
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LoanCare
rjstrat @rjstrat
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1 Star Rating
The employees must all eat nasty pills before arriving to work at Loancare. It is evident in their attitudes towards "CUSTOMERS". But when we don't have the option to choose our loan servicer, I guess Loancare can provide pitiful customer service and be proud of it. Very, very unfortunate.
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Product: LoanCare Conventional
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LoanCare
Paul Ramos @elboriquany
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1 Star Rating
This company is horrible. They took over my loan from a previous lender. I was entering into a loss mitigation plan with the former vendor as I had lost my job due to an injury. I have completed the plan and am waiting for a package to sign and notarize. I received a letter on February 15 stating the package would be sent to me within 15 days. This letter was dated January 29. I have now received a letter dated February 17 for a different option, along with a notice of default dated February 19, on my mortgage for the overdue payments. Did I mention I called this past Monday Mar 24 inquiring about the package and was told it was being processed? Needless to say I have not received any package. Once again, this company is horrible! I’ve read several reviews where this is a recurring issue with this company in order to take advantage of borrowers. This has been a nightmare on top of my health issues which landed me in this situation to begin with. Stay away from this company if you can. Obviously, if our loans are sold to them, there’s not much we can do, but these guys are not to be trusted.
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Product: LoanCare FHA
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LoanCare
Mary Kelly @nsmak7
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1 Star Rating
I had a mortgage through Loancare from 2015. During the pandemic, I took forbearance from June 2020 to July 2021. My understanding from the original paperwork and speaking to customer service was that I could resume my original payments without penalty. I also understood that I would have to pay the missed interest, loan, and escrow. I restarted my payments and then spoke with a representative from Loancare in Virginia regarding possibly refinancing for a better interest rate. I had also asked about the cancellation of PMI as I had reached the 20% mark per FHA requirement. I was told that I had an outstanding escrow owed of $9,600 which would have to be paid to bring everything current. I paid the amount in cash. The total loan at this point was $268,000. I then received a letter from Loancare threatening foreclosure if I did not pay all the missed payments which they stated was $42,000. I called to question this and was told I had no other option or I would lose my house. I questioned the amount as I had paid the escrow in cash. I was told I had no options but to pay. I was sent paperwork which I signed. It turns out they took a $42,000 home equity loan out. My loan appeared on the credit bureau showing I owed $300,000+. I received a quarterly statement showing they had applied approximately $26,000 to escrow, paid escrow, then sent me an $8,000 check for the overage. They did not make any payment to the mortgage or interest. I eventually sold the house in August 2022. At closing, I had to pay for a second mortgage to a lienholder for $42,000. Again, the only payment to the mortgage loan were the ones I made. The paperwork they sent for tax and the quarterly statements do not add up. I am asking for a complete copy of all paperwork from Loancare. They are involved in a class-action lawsuit in New York for threatening foreclosure during forbearance. I am gathering my information to take to lawyers in Houston. Does anyone have similar issues?
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Product: LoanCare FHA
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LoanCare
Leyda carrillo @leydic15
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1 Star Rating
The worst mortgage company ever. This company does not respect consumer rights. Trying to contact them is an odyssey if you can manage it. The customer service representatives never know anything. They wrote my name incorrectly. They do not check the documents. They are not professionals.
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Product: LoanCare Conventional
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LoanCare
James @whuser16155810
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1 Star Rating
The absolute worst people to have a mortgage through on planet Earth, the most underhanded, adding insult to injury, backstabbing, unhelpful schemers in the business. Run, do not get anything through these people, just run as fast as you can. If you'll consider these people, why not go through a bank instead?
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Product: LoanCare Conventional
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LoanCare
riles41 @riles41
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1 Star Rating
"Terrible Experience – Incompetence and Lack of Knowledge of Louisiana Laws
I have had an extremely frustrating and stressful experience with LoanCare. As a homeowner in Louisiana since 2015, I expected my mortgage servicer to be knowledgeable about state laws, but that has not been the case.
When interest rates dropped, I attempted to refinance my home, only to be told that my former spouse had to be added to the loan—something that is not required by Louisiana law. Unfortunately, this mistake has created significant complications for me now that I am divorced and unable to provide paperwork regarding a person whose whereabouts are unknown. LoanCare's lack of understanding of Louisiana’s legal requirements has put my home at risk.
To make matters worse, their customer service is a nightmare. Every time I call, I am transferred to a different agent who has no knowledge of my case. I am forced to repeat my entire story over and over, only to be given conflicting instructions each time. Despite being told that notes are being added to my account, it’s clear that they are not, because no one ever seems to have any background on my situation.
As a single parent and a homeowner seeking assistance during a difficult time, I expected at least some level of support and consistency. Instead, I have been met with incompetence, lack of accountability, and endless frustration. I feel like I am running in circles with no real answers, and the fear of losing my home due to their mishandling of my case is overwhelming.
LoanCare needs to train their staff properly, ensure compliance with state laws, and implement a better system for handling customer cases. No homeowner should have to go through this kind of stress due to a mortgage servicer's lack of knowledge and poor customer service.
If you are considering working with LoanCare, be warned—their inability to provide clear, consistent guidance and their disregard for Louisiana homeowners may leave you stuck in a bureaucratic nightmare, just like I am.
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Product: LoanCare FHA
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Ollie Landry @ollie_chills
I am at my Wit's end. Also I live here in baton Rouge and I have been trying to get my ex-wife off of my mortgage. They told me it was going to be super easy, then they asked for a quit claim deed, which was an act of God to get and I literally had to record them telling me that so my own lawyer would believe it let alone hers. After I finally got that done, then they respond and say the quit claim deed needs to be recorded. That literally gives up my ex-wife's right to the property without taking her name off of the mortgage. I feel like they're just messing with me because they don't want me to keep my same interest rate or something I don't. I don't really know but I have spent hours and hours and hours on the phone and I don't know what to do anymore.
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Ollie Landry @ollie_chills
If you could, Contact me @ [email protected] I'm curious what they have told you and if we could maybe help each other. I'm about to lose everything, bc these awful people.
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LoanCare
Silvestre Smith @chelasmith
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1 Star Rating
My home was flooded in May 2024. I broke my leg, hurt my hip, and sustained some other minor injuries trying to save my home from the flood. I am an elderly, 100% disabled widow whose husband was also a 100% disabled veteran; this house is all I have. The insurance issued a check on May 20th for the cleanup of $7,500. Since I was incapacitated, I was relocated to another town under the care of my mother while my brothers repaired the home. Neither lives nearby, but they did what they had to do. By the 1st of June, the cabinets for the bathroom and the kitchen were ordered, and everything else had been repaired. All that was left was the kitchen. With nowhere else to borrow from, we waited for the insurance to come through. We were unaware we could apply for FEMA. We thought that was for people who were uninsured. Insurance checks arrived on June 12. Lakeview/LoanCare is my loan servicer. I called LoanCare and was informed that I would have to endorse the check to them if it was over $40. I asked USAA to reissue checks in smaller amounts. As per LoanCare's instructions, I sent in one check ($35,000) expedited, which cost me $69. They endorsed and mailed it back. I sent the other two checks ($35,000) ($14,369.73), and they were returned unendorsed. I was told not to send them back. They would return them each time unless I endorsed them. They said I would receive a packet that would explain the process; just endorse the checks. The packet never arrived. They would call to harass me, demanding I endorse the checks and send them back. I was told I was holding the process up. I was to upload an app and follow the steps in order to get my money. I finally endorsed the checks when they said they were processing an exception to policy for me since we did not have a contractor. Three weeks later, I called, and all they said over the phone was, "exception denied". They stated they would not deal with me; they would deal with a contractor only. They had to ensure taxes were paid on the money. Then they said I could ask for an inspection. So, I did. It was conducted on 7/10/24 and concluded 80%.
Still no money. The excuse was, they never authorized me to do the repairs in the first place. Harassing phone calls, verbal abuse, letters threatening legal action if I didn't prove I was using the insurance money to fix the house, and demanding another inspection followed. I tried filing a complaint with the Department of Savings and Mortgage Lending in August, but it was closed for insufficient evidence since the company would not respond, and I have no evidence since they do everything only via telephone. I lived in my home for six months without a kitchen. The house settled; damages kept snowballing. Neither insurance nor FEMA would cover it. The delays caused additional costs, and I was struggling to take each little bit of money I could spare and do the repairs myself bit by bit. Storms kept coming. We were hit with downed trees and damages from tornadoes, all the while making sure the drainage system we implemented held up until we got the money to close it up. The final inspection was requested in October, but due to all the storms and downed trees, it was done by LoanCare representatives on November 1. It passed at 100%. Still, LoanCare refused to release the money. A supplemental check was mailed to them in the amount of $2,873.53. They returned it, demanding I endorse it to them and return it. Finally, in December, they said they approved the exception to policy; all I had to do was sign a letter stating I would not sue them, etc., fill out a W-9, and send a letter asking for the money. Two weeks later, on December 18th at 3:57 pm, they called and said they FedExed a letter and all I had to do was sign with a notary and send the letter back stating I shall indemnify and hold harmless, and they would send all my money. I asked if I could get it in writing, via email or something. They said they don't do that and if I didn't trust them, it was a personal problem. I have no guarantee that doing this form will get me my money since it states I cannot sue them regarding anything to do with the house repairs, and I'm responsible for any liens. After a lot of research, LoanCare is known for getting out bogus liens on homeowners. I have found hundreds of cases just like mine. I find that all these agencies that we complain to are well aware of a crime and are complicit. Taking
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Product: LoanCare VA
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LoanCare
jnsreimers @jnsreimers
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1 Star Rating
Chose one star because zero is not an option. My loan adjusts according to prime. They did not adjust it correctly. I would like to start a class-action lawsuit against them and am researching how to identify other class members
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Product: LoanCare Conventional
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ebony mcmath @ebony_mcmath
hen you find out please let me know. This company are crooks.
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Leyda carrillo @leydic15
please keep us informed this company it’s the worst .
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LoanCare
Loretta Johnson @lgjohnson73
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1 Star Rating
Verified Customer
Didn't pay our insurance on time, causing cancellation. Would not help to correct it. Extremely difficult to get answers and help. Call backs were delayed. Very disappointing.
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Product: LoanCare Mortgages
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LoanCare
dc dc @dwainecarlino80
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1 Star Rating
This company continues to gouge me for my money by sending me loan modifications after I completed a repayment plan they constructed when I fell behind a few months due to medical issues, automotive repairs, and house damage from a storm. This is their second attempt to modify my loan from 2.25% to 8%, and every time I deny it, somehow I owe them $10,000 more due to some mysterious arrears. I recently paid them $8,000 to bring my account current, and they refunded $3,000 but still haven't deducted the other $5,000 I paid from what I owe, bringing me to $14,000 behind, which now puts me at risk for foreclosure, despite it being totally inaccurate. This company is predatory and looking to modify all our loans to benefit their interests, not the consumer's anymore since we have recovered from the COVID shutdown. Absolute nonsense, and I am now obtaining a lawyer as I'm done with this company. Be careful and record all of your calls.
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Product: LoanCare VA
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Francisco Sanchez Garnica @pakogarnica9
I have the worst experince in my life wiht this company and I loss my house and I want lawsuit the company for descrination
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Leyda carrillo @leydic15
please keep us informed How it’s goes! They are the worse
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LoanCare
Jack Sayers @blackhillsrock
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1 Star Rating
If I could give a negative star review, I would! This company is literally corrupt. At any given time, there are multiple class action lawsuits against them. Record your calls and keep copies of all communications because they will deny they said certain things, especially if it's something that will benefit you. Also, there seems to be discrimination against Caucasians. I have talked to my best friend who is Black about Loancare; he also has his mortgage through them. They treat him much better when I listened to his call one day. Was it by chance? I don't think so. Look at their employee ratings and you'll see what I mean.
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Product: LoanCare Conventional
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