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Loanpal Reviews (2038)

On February 27, 2018 someone opened a joint solar account (shows on my credit report as a secured home improvement loan) with the company LoanPal using my personal information without my knowledge. The solar loan amount was for $80,000. There were late payments on the account, however I never received a 30, 60, or 90 day late notice. I immediately contacted LoanPal to request a letter of deletion, but was put on hold and finally was hung up on without speaking to a company representative. I respectfully request the assistance of *** to have this loan dropped off my credit report as it is impacting my credit worthiness. Thank you.

Loanpal Response • Oct 09, 2019

Mr.

Loanpal is aware of your issue and one of our representatives have reached out, with no luck. We will be calling again today to take care of this issue for you. Please be on the lookout for our call.

Thank you.

Customer Response • Nov 01, 2019

I made contact with LoanPal numerous times. LoanPal investigated and found the loan to be fraudulent. This was contrary to what the credit bureaus reported to me. Last week they sent a letter of deletion through E-*** to all three credit bureaus. LoanPal, the loan for $80,000 has been dropped from my credit report.

On February 27, 2018 someone opened a joint solar account (shows on my credit report as a secured home improvement loan) with the company LoanPal using my personal information without my knowledge. The solar loan amount was for $80,000. There were late payments on the account, however I never received a 30, 60, or 90 day late notice. I immediately contacted LoanPal to request a letter of deletion, but was put on hold and finally was hung up on without speaking to a company representative. I respectfully request the assistance of *** to have this loan dropped off my credit report as it is impacting my credit worthiness. Thank you.

Loanpal Response • Oct 09, 2019

Mr.

Loanpal is aware of your issue and one of our representatives have reached out, with no luck. We will be calling again today to take care of this issue for you. Please be on the lookout for our call.

Thank you.

Customer Response • Nov 01, 2019

I made contact with LoanPal numerous times. LoanPal investigated and found the loan to be fraudulent. This was contrary to what the credit bureaus reported to me. Last week they sent a letter of deletion through E-*** to all three credit bureaus. LoanPal, the loan for $80,000 has been dropped from my credit report.

We purchased Solar Panels through *** in Texas. We were not given an option for a lender. Our loan was given to LoanPal. We are trying to move and were told we cannot take our solar panels with us unless we pay them off, per our contract. No where in the contract does it state they must be paid off in order to have them moved. Furthermore, *** never informed us of any issues with moving them as we were very upfront that we would be moving in the next several years. The contract states we need their consent. LoanPal is not providing consent and we discovered today they placed a UCC on our home July 1, 2019. We had no knowledge of this. We have never missed a payment and always pay more than what is due. Not to mention this loan is a fraud as it took months before anything was coming off principle and we were told if we paid $10,000 into principle by a certain date the payment would stay the same. It's near impossible to pay $10,000 into principle as there is no way to notate anything additional as a payment for principle. It all goes to interest with a laughable amount to principle.

Loanpal Response • Oct 11, 2019

Mr., Congratulations on your decision to purchase a new home. I am sorry that you are having issues as its relates to the solar system and I wanted to address your concerns. First, let me address the portability of your solar system. Loanpal’s company policy is to not allow a customer to move their system to a new home. While we have the right to approve such a move, it is not something we have done. We encourage our customers to either pay the loan off (which allows you to do whatever you like with the system) or have the buyer of the home assume the loan payments. Then, have a new system installed in your new home as it will be more efficiently designed for your new space. A Loanpal employee can help you with either of those options by calling our customer service department. Next, you have some questions on the terms of your loan. Per those terms, Loanpal is applying your monthly payments accordingly. As you agreed, your loan came with a special feature that kept the monthly payments low for the first 18 months. During this initial period, most, if not all, of the monthly payment is applied to interest. Then, at month 18 your loan is re-amortized and your monthly payments will be applied according to the amortization schedule. This feature was put in place to give our customers time to apply for the federal solar investment tax credit, then apply those monies to the loan should the customer choose. These items are all detailed in the loan documents you signed and were given copies of. Please let us know if you have any further questions.

Loanpal Response • Nov 11, 2019

Hello,

Yes, we sent a communication to the customers on what needed to happen to move the panels. There is some procedure that must be followed but if the customer is good with that, they will be allowed to move the panels.

Let me know if you have any other questions.

Thanks

Customer Response • Nov 11, 2019

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.

We purchased Solar Panels through *** in Texas. We were not given an option for a lender. Our loan was given to LoanPal. We are trying to move and were told we cannot take our solar panels with us unless we pay them off, per our contract. No where in the contract does it state they must be paid off in order to have them moved. Furthermore, *** never informed us of any issues with moving them as we were very upfront that we would be moving in the next several years. The contract states we need their consent. LoanPal is not providing consent and we discovered today they placed a UCC on our home July 1, 2019. We had no knowledge of this. We have never missed a payment and always pay more than what is due. Not to mention this loan is a fraud as it took months before anything was coming off principle and we were told if we paid $10,000 into principle by a certain date the payment would stay the same. It's near impossible to pay $10,000 into principle as there is no way to notate anything additional as a payment for principle. It all goes to interest with a laughable amount to principle.

Loanpal Response • Oct 11, 2019

Mr., Congratulations on your decision to purchase a new home. I am sorry that you are having issues as its relates to the solar system and I wanted to address your concerns. First, let me address the portability of your solar system. Loanpal’s company policy is to not allow a customer to move their system to a new home. While we have the right to approve such a move, it is not something we have done. We encourage our customers to either pay the loan off (which allows you to do whatever you like with the system) or have the buyer of the home assume the loan payments. Then, have a new system installed in your new home as it will be more efficiently designed for your new space. A Loanpal employee can help you with either of those options by calling our customer service department. Next, you have some questions on the terms of your loan. Per those terms, Loanpal is applying your monthly payments accordingly. As you agreed, your loan came with a special feature that kept the monthly payments low for the first 18 months. During this initial period, most, if not all, of the monthly payment is applied to interest. Then, at month 18 your loan is re-amortized and your monthly payments will be applied according to the amortization schedule. This feature was put in place to give our customers time to apply for the federal solar investment tax credit, then apply those monies to the loan should the customer choose. These items are all detailed in the loan documents you signed and were given copies of. Please let us know if you have any further questions.

Loanpal Response • Nov 11, 2019

Hello,

Yes, we sent a communication to the customers on what needed to happen to move the panels. There is some procedure that must be followed but if the customer is good with that, they will be allowed to move the panels.

Let me know if you have any other questions.

Thanks

Customer Response • Nov 11, 2019

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.

We purchased Solar Panels through *** in Texas. We were not given an option for a lender. Our loan was given to LoanPal. We are trying to move and were told we cannot take our solar panels with us unless we pay them off, per our contract. No where in the contract does it state they must be paid off in order to have them moved. Furthermore, *** never informed us of any issues with moving them as we were very upfront that we would be moving in the next several years. The contract states we need their consent. LoanPal is not providing consent and we discovered today they placed a UCC on our home July 1, 2019. We had no knowledge of this. We have never missed a payment and always pay more than what is due. Not to mention this loan is a fraud as it took months before anything was coming off principle and we were told if we paid $10,000 into principle by a certain date the payment would stay the same. It's near impossible to pay $10,000 into principle as there is no way to notate anything additional as a payment for principle. It all goes to interest with a laughable amount to principle.

Loanpal Response • Oct 11, 2019

Mr., Congratulations on your decision to purchase a new home. I am sorry that you are having issues as its relates to the solar system and I wanted to address your concerns. First, let me address the portability of your solar system. Loanpal’s company policy is to not allow a customer to move their system to a new home. While we have the right to approve such a move, it is not something we have done. We encourage our customers to either pay the loan off (which allows you to do whatever you like with the system) or have the buyer of the home assume the loan payments. Then, have a new system installed in your new home as it will be more efficiently designed for your new space. A Loanpal employee can help you with either of those options by calling our customer service department. Next, you have some questions on the terms of your loan. Per those terms, Loanpal is applying your monthly payments accordingly. As you agreed, your loan came with a special feature that kept the monthly payments low for the first 18 months. During this initial period, most, if not all, of the monthly payment is applied to interest. Then, at month 18 your loan is re-amortized and your monthly payments will be applied according to the amortization schedule. This feature was put in place to give our customers time to apply for the federal solar investment tax credit, then apply those monies to the loan should the customer choose. These items are all detailed in the loan documents you signed and were given copies of. Please let us know if you have any further questions.

Loanpal Response • Nov 11, 2019

Hello,

Yes, we sent a communication to the customers on what needed to happen to move the panels. There is some procedure that must be followed but if the customer is good with that, they will be allowed to move the panels.

Let me know if you have any other questions.

Thanks

Customer Response • Nov 11, 2019

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.

We purchased Solar Panels through *** in Texas. We were not given an option for a lender. Our loan was given to LoanPal. We are trying to move and were told we cannot take our solar panels with us unless we pay them off, per our contract. No where in the contract does it state they must be paid off in order to have them moved. Furthermore, *** never informed us of any issues with moving them as we were very upfront that we would be moving in the next several years. The contract states we need their consent. LoanPal is not providing consent and we discovered today they placed a UCC on our home July 1, 2019. We had no knowledge of this. We have never missed a payment and always pay more than what is due. Not to mention this loan is a fraud as it took months before anything was coming off principle and we were told if we paid $10,000 into principle by a certain date the payment would stay the same. It's near impossible to pay $10,000 into principle as there is no way to notate anything additional as a payment for principle. It all goes to interest with a laughable amount to principle.

Loanpal Response • Oct 11, 2019

Mr., Congratulations on your decision to purchase a new home. I am sorry that you are having issues as its relates to the solar system and I wanted to address your concerns. First, let me address the portability of your solar system. Loanpal’s company policy is to not allow a customer to move their system to a new home. While we have the right to approve such a move, it is not something we have done. We encourage our customers to either pay the loan off (which allows you to do whatever you like with the system) or have the buyer of the home assume the loan payments. Then, have a new system installed in your new home as it will be more efficiently designed for your new space. A Loanpal employee can help you with either of those options by calling our customer service department. Next, you have some questions on the terms of your loan. Per those terms, Loanpal is applying your monthly payments accordingly. As you agreed, your loan came with a special feature that kept the monthly payments low for the first 18 months. During this initial period, most, if not all, of the monthly payment is applied to interest. Then, at month 18 your loan is re-amortized and your monthly payments will be applied according to the amortization schedule. This feature was put in place to give our customers time to apply for the federal solar investment tax credit, then apply those monies to the loan should the customer choose. These items are all detailed in the loan documents you signed and were given copies of. Please let us know if you have any further questions.

Loanpal Response • Nov 11, 2019

Hello,

Yes, we sent a communication to the customers on what needed to happen to move the panels. There is some procedure that must be followed but if the customer is good with that, they will be allowed to move the panels.

Let me know if you have any other questions.

Thanks

Customer Response • Nov 11, 2019

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.

On June 6, 7 and 8 2019 loanpal checked my credit, they were supposedly having computer issues on June 6 which is the ONLY day I gave them permission to check my credit,which made their computers check 3 times!! now they will not remove the other 2 hard inquiries on my credit report and its hurting my credit report and I want the 2 hard inquiries on June 7 and 8th removed

Loanpal Response • Oct 28, 2019

Hello,

Loanpal is currently working with the customer to remove the inquires on their credit report. We are in communication with the customer and the process should be done in the coming weeks.

Thank you.

Customer Response • Nov 07, 2019

Consumer states: everything has been taken care of.

On June 6, 7 and 8 2019 loanpal checked my credit, they were supposedly having computer issues on June 6 which is the ONLY day I gave them permission to check my credit,which made their computers check 3 times!! now they will not remove the other 2 hard inquiries on my credit report and its hurting my credit report and I want the 2 hard inquiries on June 7 and 8th removed

Loanpal Response • Oct 28, 2019

Hello,

Loanpal is currently working with the customer to remove the inquires on their credit report. We are in communication with the customer and the process should be done in the coming weeks.

Thank you.

Customer Response • Nov 07, 2019

Consumer states: everything has been taken care of.

On June 6, 7 and 8 2019 loanpal checked my credit, they were supposedly having computer issues on June 6 which is the ONLY day I gave them permission to check my credit,which made their computers check 3 times!! now they will not remove the other 2 hard inquiries on my credit report and its hurting my credit report and I want the 2 hard inquiries on June 7 and 8th removed

Loanpal Response • Oct 28, 2019

Hello,

Loanpal is currently working with the customer to remove the inquires on their credit report. We are in communication with the customer and the process should be done in the coming weeks.

Thank you.

Customer Response • Nov 07, 2019

Consumer states: everything has been taken care of.

On June 6, 7 and 8 2019 loanpal checked my credit, they were supposedly having computer issues on June 6 which is the ONLY day I gave them permission to check my credit,which made their computers check 3 times!! now they will not remove the other 2 hard inquiries on my credit report and its hurting my credit report and I want the 2 hard inquiries on June 7 and 8th removed

Loanpal Response • Oct 28, 2019

Hello,

Loanpal is currently working with the customer to remove the inquires on their credit report. We are in communication with the customer and the process should be done in the coming weeks.

Thank you.

Customer Response • Nov 07, 2019

Consumer states: everything has been taken care of.

this company Holds a lien on my property without my knowledge and refuse to provide subordination agreement to my new mortgage company, they just ignore me every time I call'

Loanpal Response • Sep 14, 2019

To whom it may concern,

Thank you for bringing this issue to our attention. There are two issues Mr. brought up in his complaint that I would like to address.

(1) He states that Loanpal has a lien on his property that he did not agree to. This statement is false as Mr. took out a loan with Loanpal for his residential solar system. Contained in his loan documents is a section that gives Loanpal the right to add a UCC-1 filing on his property.

(2) Mr. states that he and his mortgage lender has contacted us to subordinate the UCC-1 filing. This is true and the request was sent to ***. With that request we need a borrower's authorization to release the filing. This was not include din the request. However, we did receive the borrowers authorization on 9/12/19 and the temporary UCC-1 termination has been sent.

I believe the issues Mr. has in his complaint have been satisfied. If not, let me know what other questions/concerns I can address.

this company Holds a lien on my property without my knowledge and refuse to provide subordination agreement to my new mortgage company, they just ignore me every time I call'

Loanpal Response • Sep 14, 2019

To whom it may concern,

Thank you for bringing this issue to our attention. There are two issues Mr. brought up in his complaint that I would like to address.

(1) He states that Loanpal has a lien on his property that he did not agree to. This statement is false as Mr. took out a loan with Loanpal for his residential solar system. Contained in his loan documents is a section that gives Loanpal the right to add a UCC-1 filing on his property.

(2) Mr. states that he and his mortgage lender has contacted us to subordinate the UCC-1 filing. This is true and the request was sent to ***. With that request we need a borrower's authorization to release the filing. This was not include din the request. However, we did receive the borrowers authorization on 9/12/19 and the temporary UCC-1 termination has been sent.

I believe the issues Mr. has in his complaint have been satisfied. If not, let me know what other questions/concerns I can address.

this company Holds a lien on my property without my knowledge and refuse to provide subordination agreement to my new mortgage company, they just ignore me every time I call'

Loanpal Response • Sep 14, 2019

To whom it may concern,

Thank you for bringing this issue to our attention. There are two issues Mr. brought up in his complaint that I would like to address.

(1) He states that Loanpal has a lien on his property that he did not agree to. This statement is false as Mr. took out a loan with Loanpal for his residential solar system. Contained in his loan documents is a section that gives Loanpal the right to add a UCC-1 filing on his property.

(2) Mr. states that he and his mortgage lender has contacted us to subordinate the UCC-1 filing. This is true and the request was sent to ***. With that request we need a borrower's authorization to release the filing. This was not include din the request. However, we did receive the borrowers authorization on 9/12/19 and the temporary UCC-1 termination has been sent.

I believe the issues Mr. has in his complaint have been satisfied. If not, let me know what other questions/concerns I can address.

this company Holds a lien on my property without my knowledge and refuse to provide subordination agreement to my new mortgage company, they just ignore me every time I call'

Loanpal Response • Sep 14, 2019

To whom it may concern,

Thank you for bringing this issue to our attention. There are two issues Mr. brought up in his complaint that I would like to address.

(1) He states that Loanpal has a lien on his property that he did not agree to. This statement is false as Mr. took out a loan with Loanpal for his residential solar system. Contained in his loan documents is a section that gives Loanpal the right to add a UCC-1 filing on his property.

(2) Mr. states that he and his mortgage lender has contacted us to subordinate the UCC-1 filing. This is true and the request was sent to ***. With that request we need a borrower's authorization to release the filing. This was not include din the request. However, we did receive the borrowers authorization on 9/12/19 and the temporary UCC-1 termination has been sent.

I believe the issues Mr. has in his complaint have been satisfied. If not, let me know what other questions/concerns I can address.

I had a great experience and it was fast . I got a good rate and closed on time . Nathan was great and informative .

I had a great experience and it was fast . I got a good rate and closed on time . Nathan was great and informative .

I had a great experience and it was fast . I got a good rate and closed on time . Nathan was great and informative .

I had a great experience and it was fast . I got a good rate and closed on time . Nathan was great and informative .

T
Paramount sold my servicing to PHH. After PHH began servicing my loan has been nothing but time consuming.
Last month (July 17th) they held my LATE payment until 20 Aug b4 processing. In the meantime they contacted the credit bureaus and had my credit score lowered 100 pts (told by PHH that they can reduce it by 60 to a 100 pts!)
How dare this company! It's the worst mortgage company I have ever dealt with. In my opinion, they shouldn't be allowed to do business, let alone military VA loans. STAY AWAY FROM THIS COMPANY!!!
They are LIARS, CHEATERS, & SM!

T
Paramount sold my servicing to PHH. After PHH began servicing my loan has been nothing but time consuming.
Last month (July 17th) they held my LATE payment until 20 Aug b4 processing. In the meantime they contacted the credit bureaus and had my credit score lowered 100 pts (told by PHH that they can reduce it by 60 to a 100 pts!)
How dare this company! It's the worst mortgage company I have ever dealt with. In my opinion, they shouldn't be allowed to do business, let alone military VA loans. STAY AWAY FROM THIS COMPANY!!!
They are LIARS, CHEATERS, & SM!

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Address: 8781 Sierra College Blvd, Roseville, California, United States, 95661-5920

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+1 (916) 290-9992

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