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My husband and I refinanced our home loan through United Wholesale Mortgage (UWM) in 2012. Well, we divorced in 2015. I signed a quit claim on our home and the divorce awarded it to my ex-husband. But my ex-hubby didn't refinance or assume the mortgage. So I'm still listed on the loan documents. This makes me financially responsible for a loan on a property that I have no ownership over.
Regardless, I called UWM and asked them for copies of my loan documents - after all, they're after me for late payments (by my ex), but THEY REFUSE TO SPEAK TO ME or provide any documentation. Since I'm still on the loan, it's illegal. PLUS, they modified the loan for my ex, after I signed the quit claim. They did this without my knowledge or consent. This is ILLEGAL. I'm contacting attorneys now. So stay away from this caustic company. They won't remove notes from your credit reports, or provide any documentation for you if you aren't the "primary." God forbid you get a divorce - you'll be screwed!
19 years ago we did a short sale on a home in Long Beach. And we are now receiving notices from RCS that we still owe $24,000 in this loan. They told me that they bought the loan in 2014 and they are just now asking for this. But wait what does not make sense is that they want $1800 dollars and they would disregard the $24,000 supposedly still owed? We sent them papers showing we have had a short sale but for some reason they cannot find them. This company just sounds very shady.
This company has fraudulent practices. They bought my mortgage and there have been nothing but problems. Right away they said I didn't have insurance. I sent them paperwork that proved ins and escrow ants. Then they started charging inch miscellaneous fees. Late fees and association fees were charged when my payments were never late and my HMO payments were sent directly to the condo association. My escrow has continued to increase because they said that I started off 1,600 behind which is not true. This company has caused me a lot of stress and anxiety from day one and now I understand that they are selling my mortgage. I honestly think that they steal money out of escrow to run their business. Someone needs to shut them down.
My loan was transferred to this company, since then worst experiences started. I found out lately that I overpaid my PMI to them. Every time you try to call them to address the issue they keep telling "send the written request we will review." When I called for reimbursing the overpaid money, two of their representative said I will get it in few days and all of sudden today I received a letter saying that my request was denied. I called and spoke to them, they asked to explain everything from beginning. How many times you will address the same issue? It's so upsetting.
I explained everything and they said "your request cannot be granted for no reason." It's my money and it's almost $1300. Why they have to steal my money. I said I won't be paying any further mortgage payment if the issue is not solved and then one lady told me "it's ok ma'am, that's your choice but we will be giving your loan to a different company by March 1st." What does that means? Every time you complain something they get rid of you. Please keep all these reviews in mind. Such a disturbing company. I decided to fight legally with all the rights I have. I will win this case .
No stars!! I didn't pick these people - BofA sold our loan to them. I mailed my payment on Nov 7th. Today is the 16th in the evening and they still haven't presented to our bank! Late fee, late fee, late fee!!! They have a horrible reputation. We are doomed!!!
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Where to start? All of the companies that have managed our mortgage for the past 15 years have been wonderful, smooth, efficient and competent. Until our mortgage was sold to RCS. Nightmare! Honestly, I have not had such a terrible experience with any company in all my life. RCS purchased my mortgage earlier this year and the transition has just been horrible. We funded our account early for their "pull" date, but they never accessed our account, then blamed us.
They had technical banking problems accessing our account for three months, off and on. They blamed us, but the money was always there with all the proper paperwork filed and submitted. They have deep systemic business problems that make working with them truly a nightmare. These systemic business issues are not being addressed within their executive team, so they continue to have deep rooted problems. The consumer, sadly, is stuck with their ineptitude, because other than refinancing, we cannot just take our business elsewhere. But I wish we could!
Their website claims to make the process as easy as possible for the homeowner but that is a joke. I had several different repairs being done to my home for a claim and they only issued third payments for 1 of the contractors. They would not release any other funds for the other contractors so I had to pay all of it upfront and wait weeks for reimbursement. They are very slow to release funds and won't even expedite shipping unless you pay for it. They also don't seem to fully understand how the process works themselves.
RCS is a predatory lender and has caused myself and family great stress. I have owned my home for 13 years and according to RCS we are always late. They continue to charge late fees for payments that I sent more than 2 weeks before they are due.
Mortgage bills started getting random fees added with no advance notice. One month a "Property Inspection fee" $115. Next month a "Document fee" $250. Then "Legal fee" $500. I finally got enough cash together to refinance. I sent them a cashier's check for over $134,000. One month later they returned it uncashed saying it was $11.50 short. I asked for the full payoff amount and it was now $159,173.55 because they added over $20,000 in fees in one month. I wired them those funds and finally got them paid off and out of my life. Then 5 months later they send me a refund check, "Oh sorry we were over withholding your escrow account. Here's the balance" - $9613. This company was moving full speed trying every trick in the book to make me fail so they could foreclose on my house. Like a lot of people I'm angry and have lost a lot of money but not enough to hire a lawyer. I hope a state attorney general is reading this.
RCS purchased my mortgage earlier this year and have been charging my 1% more interest than what my loan is for! I figured these mortgages get sold and passed on so much that a mistake like this could happen, but that it would be fixed ASAP. Well, that's not the case. Since alerting RCS to the error, they have not changed the rate back to its correct number. They have acknowledged it is an error and confirmed by reviewing the loan documents, but still have not changed. It apparently has to go through several departments, people, or something to have the error fixed. I wonder if it was the other way around, how many seconds it would take for them to "raise" my interest rate to the correct number if they were charging a lower rate by mistake?!?!
I've been told that it would take a few days, then told 24-48 hours, to now being told they can give no ETA. I think I may have screwed myself when I told them that I am listing the house and selling it hopefully by the end of the month. From reading other horror stories on here, I am curious if they are going screw around, delaying fixing this and jacking with the selling/closing of my house.
I've also brought to their attention that I have not received my borrowers incentive of $83.33 per month since my loan was modified. That's around $3600 dollars that has not been applied to my principal balance that is clearly stated in the loan documents. They have not addressed this at all since I have brought it to their attention, but I am more worried about my interest rate issue first. One fire at a time. My last mortgage servicer also threw on $5900 in "fees" on my monthly statement and could never explain where the charges came from when they bought the mortgage and of course neither can RCS. I have a feeling I have the potential to lose several thousand dollars when I sell the house due to the incompetence of RCS and other mortgage servicers.
Residential Credit Solutions Company Information
- Company Name:
- Residential Credit Solutions