Loancare LLC
Unclaimed Property

Loancare LLC, a major mortgage servicing company, currently holds $31.5 million in unclaimed property across 60,853 separate records in California. This unclaimed money typically originates from mortgage escrow refunds, loan overpayments, insurance claim proceeds, or final account balances from borrowers who moved without updating their contact information or never received their refund checks.

Loancare LLC is a prominent mortgage loan servicer that manages home loans, collects payments, maintains escrow accounts for property taxes and insurance, and handles loan modifications for millions of borrowers nationwide. Unclaimed property from Loancare typically includes escrow account surpluses when loans are paid off or transferred, overpayments on mortgage accounts, uncashed insurance claim checks, property tax refunds, and final balances from closed accounts where borrowers relocated without providing forwarding addresses.

The majority of California claims are concentrated in Los Angeles, San Diego, and San Francisco, reflecting the state's largest population centers where Loancare services high volumes of mortgage accounts. As a loan servicer that has acquired servicing rights from multiple lenders over the years, some borrowers may not immediately recognize the Loancare LLC name on their unclaimed property, especially if their original mortgage was with a different company that later sold the servicing rights to Loancare.

The average claim from Loancare LLC is $517.