Residential Credit Solutions
ConsumerAffairs Unaccredited Brand
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.
I have never had financial problems, never been late on a payment, and RCS tried to screw me over time and time again. If your mortgage has been sold or otherwise transferred to RCS, look at the reviews. You will see people have the same problems, and they never get resolved. There are too many of these complaints (as well as lawsuits against this company - and think of how many people will never find their way to a forum to complain!) to ignore, or believe your own bad experience is a fluke. The only way to find peace of mind is to REFINANCE with a different company. That is what I did, and so happy I did. I found a local credit union to refinance my home loan, and things have been fine ever since.
This company does not try to work with you at all. The only way I got anything done with this company was by going through HUD. The woman I had was so good dealing with them. She even said she couldn't believe how bad this company is. But we were able to keep our house. But now they refuse to send me a monthly statement, and even though I send my payments, at least 10 days early they don't post them in time. I sent my last payment on the 5th, it's now the 20th and they still have not posted it. I called yesterday and talked to a man and said he would check it out and call me back. Haven't heard back from him yet.
Called RCS to speak with someone in their legal department. Was told that there is no direct number to legal department. Left phone number and no one has called.
I never chose to be with RCS, just like many others in this forum. I purchased my home for $156,000. It was appraised at $368,000 when RCS took it. They pretended to be working with me to modify my loan, and in the process got an order of foreclosure behind my back. They had lost my original loan documents and when I pointed out to the judge that RCS had filed an affidavit of lost loan documents, all he said was "They'll find them." Even the attorney for RCS was surprised. She never even opened her mouth.
My city had a foreclosure prevention program that paid the lenders up to $20,000 as a good faith payment to modify the loan and cure the arrearage. RCS refused, then the same rep the city official spoke with (while I was sitting beside him) swore up and down, she never heard from anyone, and no one had offered anything. "But, I'll work with you." Yeah. I learned later there was already a buyer for my house before the foreclosure hearing was even held. Apparently he worked directly with RCS to steal my home from me. He got a house for under market value, and RCS made out like a bandit - sold the house for more than it was owed. I got nothing. That was in 2008. I have not found anyone willing to take this on, but at least I told my story. I lost my home, my son's inheritance, and a lot more. There has to be some way to get them out of business.
This is the worst mortgage company ever! They keep charging me late fee for $125 every month ever since my previous nice mortgage company sold my loan to them. Even I paid before the end of the month, they said the post office took two weeks or so to deliver and then I got the automated deduction from my account they still charged me $125 because it took them 12 days to receive the payment even it was from their website. Also their website does not give an option to pay for the late fee, so I have to call in to change from the principal payment to late fee every month. It has been three months since I have to pay $125/month. I don't know what to do with them...
Sent a billpay to them more than three weeks ago to pay off the loan, yet still not showed up on my account. The billpay company called RCS twice but they won't tell any info. Called RSC to do a three way call, they said they can't do it. They just wanted to collected more interest, and the customers' interest is not their concern. Stay away them ASAP.
We call them on our ins, fax them the amount that was owed and they went and paid more than what was owed making are payments go up more. And if you're late sending payments they like charging you insp fee of 13.50 and a late fee of 11.50 and then I call them to ask what was a nor/breach fee of 8.00 dollar every month and they said that didn't know what that was for. All the fees and no one in the government doing anything about it I guess it's legal what they're doing to everybody. Thanks.
I have read many of the other customers of RCS and I am not surprised by the bad experience they have all received from this company. Just like any other RCS customer, my mortgage was transferred by Citizens Bank (RBS) to RCS back in 2009 during the recession. I have been with this company for almost 6 years, never been late on my payments, never expect one time I decided to use their online payment system. Made my payments and got a confirmation email that my payment was processed.
A few days later I noticed RCS had not credited my account so I called them and asked them why it was taking them so long to credit my account. The "customer service representative" (CSR) told me the payment was not processed. I asked why, he couldn't give me an answer right away, so he promised he was going to research it then he would call me right back. Waited for the phone call for two days when that CRS didn't call back; I decided to call again. Coincidentally the same CSR answered my call and he remembered me. I told him I had waited for his call for 2 days, and he told me he thought he had called me back. Unbelievable!!!! Can you imagine this is a business?
Anyway he told me that it looked liked there was a problem during the transition, therefore the transition never actually went through. I asked him how that would be possible since I received a confirmation email that my transition was processed. He couldn't answer that question, so he decided to take my payment over the phone. I asked him if this was regarded as a late payment. He told me technically it was because he had just processed my payment past the due date of the 16th. I asked him why RCS never sent me an email letting me know that there was a problem or an error with my payment therefore the payment was not received, but rather they sent me a confirmation email that my payment was received. He couldn't answer that. He however apologized for any inconvenience and promised that he put a notation on my account and I wont incur any late fees.
However when I received my next month statement, I noticed I had late fees of about $46. Called back, got this CSR who was very rude. He told me it was my responsibility to make sure my payment was credited from my bank. If I had checked my account information everyday, I would be on the phone with him at that time. I asked to speak to his supervisor because he was being so rude to me and he asked me what did I need the supervisor for. The was no reason for me to talk to the supervisor. I asked him if he spoke to all the other customers disrespectfully like he was speaking to me, and he said he did not think was speaking to me in a disrespectful way at all. I insisted on speaking to his supervisor. He put me on hold for over 30 minutes, then this man actually hung up on. I was so disappointed in the lack of respect and dignity this company treats its customers.
From that minute I knew I no longer wanted to do business with RCS. I have tried to refinance my loan but unfortunately, I was not able to because a condo owner in my association owes 25% of her HOA. But am not going to stop trying to get away from RCS until I will refinance. I really do not like RCS.
I have to figure out what & how to approach it but this Company is bad, truly bad. They have no integrity. Very Very Shady Operation. I have to talk to a lawyer. While I understand order Number and Add Receipt part adds more legitimacy. It's my mortgage. What I had with them is a loan and there was a record which is public. These people played a very shady game with me and they sold the loan to someone else and now the same thing is happening. It's hard to believe that dishonest businesses like this exist out there.
Our mortgage was taken over by RCS from BofA. Shortly after, we received notification that our loan had been unilaterally modified to reduce the rate and the term from what we had, which increased our payment. I had a reduction in income of 50% and requested a modification. We received a decrease of .40 per month. That's right, a whopping forty cents per month!
We called and were reminded that we had a prior modification (unilateral and beneficial only to RCS) and told that based on their calculations, we could afford the payments even though we had a significant decrease in household income. The amount that they want us to pay to cure the default is approximately 3000.00. Over half of that amount are attorney's fees and RCS has never explained in any detail what those fees are for since there had been no litigation in this matter. This company is on par with Ocwen Bank, neither are companies that you would want to business with.
Since our loan has been transferred to RCS, they have slammed an insurance escrow impound on the loan of which I now pay an additional $ 600.00 - 700.00 per month. After researching RCS, it seems I am not the only one who has had this happen to, and there is no way to have the impound removed. SCAM?
RCS took over a mortgage loan that was part of a personal bankruptcy filing. A loan reaffirmation was NEVER signed or submitted. The house ended up in foreclosure and RCS sent us a 1099 which shows we are personally responsible for the debt. We had previously provided all documentation their lawyers requested with bankruptcy case number. This is a RIPOFF and a hassle and false filing with the IRS. This will become a lawsuit if it is not rectified immediately!
Bank of America transferred the servicing of my loan to Residential Credit Solutions in September of 2014 and notified me of the transfer on September 15th, 2014. I promptly searched RCS on the web to find out how to pay my September mortgage payment online, as they failed to sent me any documentation welcoming me to their family or assigning me an account number, and the payment would come due on the 28th of September. I was assured that no negative reporting of late payments would occur for two months, because of the migration of the loan. Accrual of late fees was a concern however. I had no account number and no mailing address and no way to register or set up online payments, even using my social security number. They did not know who I was and Bank of America no longer recognized me as a customer. So I sent two payments in October, since it took that long to send me my packet. They "lost" the check, so I paid three months of payments online.
Magically, the "lost" check was found and submitted for deposit the day after I brought my account current. I had stopped payment on it. RCS is presently collecting twice the amount I need for my bi-annual tax bill and has no intention of analyzing my account, since it has only been with them for four months. I plan to contact the Attorney General of Michigan, and since many of these troubled loans were originated from Countrywide and assumed by Bank of America. I know that thousands of homeowners are struggling with just affording their homes and don't really need to be feed to death by an overly aggressive collection agency, with rude employees, broken fax machines, an incompetent mail room, and a website that had to have been designed by a ninth grader.
RCS bought my mortgage. I have no financial issues with paying my mortgage as many of the RCS reviewers have had. I'm writing this to let everyone know that even if you always pay on time or early, you will STILL have problems with RCS. I set up my mortgage 8 years ago with my escrow account paying my county taxes and my insurance. On December 1st, I receive a letter from my home insurance informing me that my insurance was cancelled due to nonpayment. I called RCS the next morning to discover that they have only issued me a tax escrow account. I had to write to the company personally and request an insurance escrow account with them. They would not pay my current insurance bill even though there was money in my escrow to do so.
When I asked to speak to a supervisor they asked, "Why?" Because I want to speak to a supervisor, that's why! You should never have to explain yourself like that to customer service after being transferred back and forth within the company five times over a 45 minute period. Their customer service is deplorable. I have taken my insurance into my own hands as I would never allow such an incompetent company to handle it for me.
I have been in my home 17 years. In July 2014 Residential Credit Solutions acquired my loan. In September RCS raised my monthly payment by 118 dollars due to an ESCROW shortage. The fixed amount has never been raised before. I sent in documentation that I made a payment to prior company but was sent in letter stating no additional payment could be located and to see printout from prior company, BUT nothing documenting this was attached to letter. Now being told that I am ONE payment behind and will go in foreclosure if not paid this month and receiving a W9 stating IRS cannot identify me (has never happened in 17 years). I think this company just wants to take my home since I have equity. I am so afraid of what they will say next. CAN ANYONE HELP SHUT THIS COMPANY DOWN?
My mortgage with Citi-Financial was up to date when it was sold to Kondaur Capital. Kondaur Capital was paid for 6 months by the NC State Foreclosure Prevention Fund. Kondaur sold the mortgage to RCS. Suddenly I had 2,666.00 worth of mystery fees added.
RCS purchased our loan about 2 years ago.. We have always paid on time but my husband was laid off and we got behind one payment.. When calling to ask if we could do as catch but by sending two smaller payments over a two week period we were told 'we don't do that ...' They say they will help you but don't - there is no payment plan. They were very rude indeed. They are more like a loan company not a mortgage company. We think our loan was purchased online by this useless company but our loan is a va guaranty loan. So we have backing behind us. So we are contacting the va and also the attorney general's office. All I heard if you don't pay you will be in foreclosure. Watch out RSC here we come!!!!!!!!
My husband and I pay our mortgage on time EVERY month without fail. We have never been late. We only put down 5% so we had to pay PMI. After having our loan for close to a year, we started the process to refinance our loan. The new company got our payoff statement from RCS. I requested to see the statement. After attempting to get to their per diem amount, I've been unable to get to their number. We have been put on hold several times and every time the customer service person comes back, I ask the same question but the customer service person is still unable to give me the information I'm asking for. They have no explanation for what the difference is, they have no idea on how to get to the escrow shortfall amount and at this point it just seems to be a waiting game to get the manager to come back to the phone. They are ATROCIOUS and should not be a servicer!!
I am doctor who recently has gone through some tough times, especially dealing with RCS. In summary, let me start out with the opinion that RCS is a disaster as a servicer with respect to the Borrower, which translates into it making money in violation of state and federal statutory and now private obligations bestowing upon it a duty of care relationship. I currently filed a lawsuit in California superior court, representing myself, they removed to federal court, and I got it pushed back to state court, where the rules generally favor the borrower more. I came within 3 hours of my home being auctioned off. I reinstated the loan, there are late fees galore, unnecessary insurance premiums, loss of attorney's fees which have to do with me suing them after my loan was reinstated. They cannot claim those fees were warranted in order to enforce their interest.
I filed a CFPB complaint and the agency just informed by that they were in violation and did not respond within 30 days. I will let everyone know how that lawsuit in San Diego Superior Court turns out and help anyone with any information in order to aid any homeowner who has a legitimate complaint with RCS. Any homeowner fighting RCS can reach me at **.
This is a worst company. Make sure to double check the monthly mortgage statement every month. As part of their escrow analysis, they incorrectly doubled my PMI amount.
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