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LoanCare Unveils Borrower Complaint Site

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LoanCare Servicing borrowers can now lodge complaints through a new consumer-facing customer advocate website. Complaint information is automatically routed to regulators.

An announcement Thursday indicated that the online portal is intended to minimize frustration and delays in the complaint filing process and enhance borrowers’ overall experience.

After a complaint is submitted, a confirmation is issued by e-mail, and the inquiry is assigned to an “advocate expert” at the sub-servicer.

The contact is responsible for providing a timely response, handling the complaint and offering a recommended resolution.

Information about the complaint is automatically sent to regulators, a spokeswoman said in a written statement.

While the service is being offered “in the spirit of the current regulatory environment,” the statement indicated that the “service is not required by any specific rules, regulations or laws, but it is provided to our customers who need assistance directly from an advocate and to enhance their customer service experience.”

Among available resources on the website are frequently asked questions. FAQ topics include fee assessments, loan and deed information, loan transfer information and payment management. Tax and insurance billing and loan modifications are also addressed.

The news release said that one of the website’s key elements is a customer engagement platform that uses ticket tracking technology to help improve the customer service experience.

“The live chat feature offers customers the opportunity to quickly reach a customer advocate without having to leave the website,” the announcement stated. “LoanCare’s customer research, escalation and seller finance teams currently use the platform in their day to day operations and expect it to provide similar benefits for customer advocate site users.”

Lenders don’t typically interact in the complaint process unless borrowers contact them directly, the statement said. Lenders are not notified about the complaint, though reports are issued when requested by lenders.

LoanCare reports that it sub-services around 400,000 home loans for more than $70 billion.

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