This company is not yet accredited. To learn more, see reviews below or submit your own.
Keep an eye on your inbox, the lastest consumer news is on it's way!
A link has directed you to this review. Its location on this page may change next time you visit.
We are trying to get a loan modification with RCS. They have offered us a high payment and a large down payment and no rate reduction. We are now on the verge of losing our home that we have lived in for thirteen years. There is no communication at all. They assign you a "point of contact" and you never get to talk to them so you have to explain your situation to another representative. These representative are so darn nasty you can't even talk to them. They have no compassion at all. Our question is we can afford our home but not a down payment and RCS will not help us in anyway, shape or form. I have been reading and RCS is supposed to help homeowners with high risk credit. We are middle class hardworking and just want to stay in our home and this mortgage company is so hard to work with. I have wrote to Mr. Rogers and Mr. Stowe and haven't heard from them at all. I will continue to try and save our home. If anyone can help us, please email me at **.
I have conventional mortgage with this company and wanted to have my PMI removed as home price appreciated. They asked me 450 for appraisal. I paid 450 for appraisal on 07/22/2014. Again they sent me bill. Called 3 times, wrote to their support on their website. No action taken. Problem#1: PMI not removed, my appraisal came $465,000, my loan is 384,000. They do not say me what is the reason they are not able to remove my PMI. According to law, if my house value is 20% more than then I qualify for PMI removal. Problem#2: They are trying to charge me twice for appraisal, I already paid on July 22nd, 14. Tried to call multiple times, they say me it will be corrected, but it show outstanding in my account.
Problem#3: Their call center is horrible. Every time I start talking to them they start from same sentence, "You do not qualify." And when I ask why, they do not know. They will say I do not know let me ask supervisor, keep me on hold. Many times I will be on hold for 30 minutes and they never come back. Or they will say "I transfer to other department," and hang up. Problem#4: They say information is sent for PMI by mail, I never get. They cannot say what was the decision. I am tired calling them and sending them mail. Not sure how to handle my case. I do not believe company like this exist.
RCS bought my loan from OCWEN when they went bankrupt. The first two months with RCS were spent providing documentation that showed them they had the wrong interest rate, wrong payment amount, and proving I had made a payment before my loan was transferred that they were not giving me credit for. This was then followed with repeated requests from them for proof of hazard insurance, which I provided three times, and requests for additional personal information that they were not entitled too nor were part of my original loan terms that they were under contract for.
I work in real estate, so I know more than the average person. I keep all of my records and I know what they are entitled to ask me for. When it came time to sell this particular property they held up my close by not providing a payoff statement. I made several calls to them and so did my escrow company. All I kept hearing was, "It takes 3 to 5 days for us to fax the statement." In what world do they live in? The payoff statement takes 30 seconds for them to look up and less than a minute for someone to fax it. All the while they are continuing to earn interest on the loan.
It doesn't matter who you talk to at that company, if you are lucky to get through, they all can't do a damn thing to help when you have an issue. I have faxed, written, and called when they would mess something up. It takes repeated attempts to get things solved. Also, many times I swear I was talking to the same operator with a different name. This is one of the fastest growing lenders out there and it just shows that nothing has changed in lending. They are still a nightmare and all the rules and regulations don't mean a thing.
Lenders like this can continue to provide horrible service and take advantage of customers and there is not a thing we can do about it. The absolute primary reason I sold this particular property that was under them was that I had spent a year dealing with them. My mortgage was going to adjust in November of 2014 and there was no way to refinance out of it without coming in with more cash. So, rather than deal with RCS any longer I cut my losses and sold the property. The day it closed I was so happy. I just received my full reconveyance and it is the best feeling in the world. I am free of them and their nightmare of a business.
My mortgage was sold to these idiots less than a year ago.. Since then I've been continually harassed by them in my cell and work phone for "payment reminder".. I do not need or want constant payment reminders as I pay on time every month.. Also, I've been informed of a shortage in my escrow.. And today I was charged $12 to pay over the phone!.. I cannot deal with these people any longer.
Since Residential credit solutions bought my loan, my mortgage payment keeps going up and all I keep getting told is shortage in escrow - I am also having problem with removing my PMI. I was told to submit a request so my property can be appraised which I have done numerous times and keep getting told they did not receive and I should wait until 2019 for it to automatically come off. They can never give you a straight answer. When I ask to speak to a supervisor, I get disconnected. It is difficult to deal with these people as the calls are being routed out of the US.
- 1,844,534 reviews on ConsumerAffairs are verified.
- We require contact information to ensure our reviewers are real.
- We use intelligent software that helps us maintain the integrity of reviews.
- Our moderators read all reviews to verify quality and helpfulness.
For more information about reviews on ConsumerAffairs.com please visit our FAQ.
Every time you need to speak to someone, it's a joke and nothing gets rectified and no supervisor to clear things up on ph line. lol
This is the worst mortgage company. Since purchasing our home in 1997 we have dealt with many banks/mortgage companies because of refinancing, mortgages being bought, etc. I ALWAYS pay my mortgage on time. My contract says I have a grace period until the 16th of the month. So, if I pay my mortgage by the 16th, there is no late fee. I get a phone call everyday telling me they are trying to collect a debt. They are rude and difficult to understand. I tell them I don't need a reminder call because I pay my bills on time. I am at my wits end with this company. Would not recommend to anyone.
RCS took over my mortgage from Bank of America and has arbitrarily changed the terms. They raised monthly payment by changing the way interest is calculated (not the escrow). I don't think the math is right. They put it on a payment schedule that will pay off the loan 14 months early. They charged late fees for payments made on time (proof by the date funds cleared my bank). They sent me a bill that arrived on the 29th and then charged late fee because it was not paid by the first. They changed the total amount due after it was paid in full then charged late fees. They routinely back date letters, for example a letter dated 2nd stating I have 30 days to respond arrives on the 29th. Their fax machine doesn't work so you can't send them documents. Their website doesn't work either. When I call I'm promised a "single point of contact" who is never there so I always end up speaking to someone new. They have claimed to never have received documents sent by US Certified Mail with Return Receipt. They have taken my application for loan modification and nether approved nor denied it; simply not acted on it for over 7 months now. I could go on.
My loan was purchased by them a few months ago. I have lost my homeowners insurance because they have not paid it -- after increasing my escrow to the maximum amount allowed. I have had three RCS employees assure me that my insurance company would be mailed a check that same day (since mid-July and it is now Aug 11) -- and I just got another email from my insurance company, saying they cannot renew the policy -- I will have to get another, higher-priced policy because of RCS' dropping the ball.
In May of 2014 Residential Credit Service purchased our loan from United Wholesale Mortgage. I had always been 1 month ahead on my payment to give me a 40 day grace period since Jan of 2013. In February of 2014 I received a notice from United Wholesale Mortgage that my escrow had a shortage amount and was given the choice to pay the new monthly at $1677 or to pay the overage of $423 and my payments would be $1641. I chose to pay the shortage amount. The next month I still received a statement for the $1677. I was in the process of getting this corrected with United Wholesale Mortgage when Residential Credit Service acquired my loan.
Since June 1st, I have been on the phone every month trying to get them to correct my monthly payment as they did not show my overage payment of $423. I also discovered they were missing my last payment that was made to United Wholesale Mortgage. I have had my bank send copies of the deposited checks along with the statements from United Wholesale Mortgage showing the month ahead. I do not get called back from the supervisors at Residential Credit Services and recently was sent a notice that I was delinquent on my account. I am at my wits end as I can't seem to get this resolved.
As a Disabled Veteran, my VA home was removed by the VA from BoA and sent to RCS for servicing? Surprised, I asked why. Was told that they, RCS and Dennis Stowe, the CEO, have been chosen since he (CEO) has friends in the VA? And RCS is the "Lowest Bidder." Ever since RCS has had my VA loan on my home, RCS has misplaced my AUTOMATICALLY deducted payments? Failed to apply them on the correct account, then outsourced their call center to Manila, Philippines. When I called them, they did NOT speak English, and so I called RCS of Texas. Again was sent to Philippines. Again failure to speak English and they had my personal and confidential financial data. RCS as it turns out is under a Criminal Investigation for fraud.
If I could give this NO stars I would! HORRIBLE! HORRIBLE! HORRIBLE! RCS took over my mortgage from Shore mortgage in March 2014. I have owned my property for just over 8 years and have NEVER been late on a payment and even pay a little extra every month towards my principal. Since RCS took over, they claim they have never received my payments, which by the way is deducted straight from my bank account. This went on for 2 months. The 3rd month I made a payment on June 24 for July, thinking if it did not go through that there was plenty of time to fix so I would not get charged late fees and the extra charges they charge you to pay directly through them. Boy was I wrong!
They received my payment on July 2 and held on to the check for 2 weeks! Then they contact me after the deadline to tell me that they have to send the money back 'cause the bank didn't have their name properly on the payment. WTF! NO calls! NO emails till after the deadline! This company is nothing but a scam!! When I addressed that this was their fault and they need to waive my late fees the employee quickly said, "No, we cannot do that... Your payment is now late!" This is not right and I will be seeking further action. I will not be taken advantage of!
I sent my mortgage payment first class mail on June 25 inside the post office and it is July 10 and it has not been acknowledged as received by RCS. I have mailed bills for decades and never had it take this long. I spoke to an RCS rep after two lengthy times waiting (30+ and 15+ minutes) on the phone to get a rep. I was told that's what I get for mailing the payment and that if I make a payment now to avoid being late they will still cash the check when it arrives so I will pay twice. My concern is that my check is in their hands and they are playing games by not processing it. They are difficult to reach via phone and give no helpful solutions to avoid my payment being late. I understand there is a slim possibility it could be due to the postal service but I am posting the complaint because there may be a pattern of such behavior at RCS that will collectively affect many mortgage holders to their financial detriment.
I am not sure when, but at some point Residential Credit Solutions took over my loan from Bank of America. They said they had attempted to contact me in regards to my loan. I only recall having received mail from them maybe in the last 10 months. One of the items they claimed to have sent was a notice for a conciliation hearing for June 2013, which I never received and was not aware of. I kept requesting a loan modification package. When called to see where it was, they then said that was no time to submit a package in regards to when the sheriff's sale was, even though there had been postponements of the sale. They claimed that I had been served some documents but I don't know which ones.
I have been in my home for 23 years and yes, I fell behind in my mortgage but there are extenuating circumstances. My home was sold and is now in the grips of a vendor. I still don't understand the concept of that but have been told that I have approximately 90 days to file a motion to set aside the sale based on a few different occurrences.
Please make a complaint with the Bureau of Consumer Financial Protection if you have had similar issues. Residential Credit Solutions bought my mortgage from United Wholesale Mortgage (Shore Mortgage) approximately 4 months ago (Feb. 2014) and I have NEVER authorized auto-deductions from my bank account and instead have made my mortgage payments by mail. Apparently United Wholesale gave them my bank account information and Residential Credit Solutions has used it to withdraw funds, even though I have called and expressly told them in no uncertain terms that they do NOT have my authorization.
At the outset, I received a couple of letters indicating that I needed to mail in my payment and I did that, sending in a check for my total April payment. Thereafter, I received a telephone call on my cell phone from an RCS representative. She indicated that my April mortgage payment would come out of my checking account automatically and I told her that per the letter I had received, I had mailed in the payment already and that it was cashed by RCS. She then asked, whether it would be okay for RCS to take out the automatic payment anyways and apply it to my May payment due. I told her that would NOT be acceptable and she seemed a little confused and we had a protracted conversation about how she would need to make sure that a payment did NOT come out automatically and that such was expressly NOT authorized.
She assured me that she would make sure it was in the system so that it would not be taken out. I watched my bank account and sure enough, my check was cashed and then, an automatic debit to my checking account was made by RCS. So, RCS used my bank account information, obtained by the prior lender, to make an unauthorized deduction from my bank account. I called RCS to tell them what had occurred and they said they could put in for a refund of the amount, but that it would take several weeks. By then my next payment would be coming due. I told them to apply the payment already taken out to the next months (May 2014) payment. I sent in my June 2014 mortgage payment to RCS by check on May 17th, 2014 and it cleared my bank on May 21, 2014.
On May 27, 2014, I got an email thanking me for enrolling in Automatic Bank Draft payments. I HAD DONE NO SUCH THING! I called RCS and spoke with a gentleman, who had me go on the website to unenroll in auto payments even though I had never enrolled to begin with! Then I got a letter thanking me for enrolling! I immediately went to my bank and had to pay to put a stop payment on any auto-deduction from RCS. I see that numerous other individuals are having this same kind of issue. My payment is not small and for them to have unauthorized use of my money (and apparently many others') for a month, looks like a scam.
With regard to the above-referenced RCS, I requested a copy of my HARP modification documents, which continue to allude me after 5 years. I have had escrow problems, rate changes, no documentation, weird charges I have had to argue, etc.. I am on the verge of losing my house and have no idea if this mortgage has been handled properly or if my legal interests have been served because the HOPE program needs these documents, as does Civil Justice and the ProBono Resource of Maryland. Now I was sent a letter from an attorney for which I am taking to my State and Federal Legislators to show them that even though Fannie Mae called me at the end of April granting me time to find a job, the letter was prepared before that time was up.
However, I am not going to do this, nor will a judge in Maryland, without my HARP paperwork which it is my right to have, to properly access what is happening and why loan is so accelerated, since I made payments per my agreement with Residential Credit Solutions on their forbearance plan through March 2014. I would like to understand how I am 6464.00 past due. It was explained instead of putting this on the back of the loan, they applied all payments to the first three payments and if I can't pay, they foreclose. There are programs to help me in this state, but I need my paperwork either from Fannie Mae or Residential Credit Solutions. When I request from one, they send me to the other, back and forth, since the loan was initiated. I must have those modification papers.
In reviewing the problems I have had with Residential Credit Solutions previously, regarding escrow issues to which I have had to have the account audited three times, twice in my favor since they have taken the loan in 2009. Now they are threatening me with an attorney, which is fine, but I have a right to have my documents with them inspected, which I requested verbally from them I don't even know how many times and in my complaint to CFPB, Fannie Mae both on the phone and in my complaint to CFPB. Can one of you send me those modification documents so I can be advised of my legal rights, which you are currently denying? Thank you for your time.
Can never get to talk to someone or get a response. Urge everyone to file a complaint with the Federal Trade Commission. You can do it online and someone will get back to you.
My loan was transferred to RCS 2 months ago; since then I have had issues galore. I tried to set up online payment but mobile site wouldn't work. Then I faxed Automatic payment form, called to verify it would be set up and a month later it is still not set up! They are now telling me that they couldn't set it up because now I am a month late to pay them when they originally told me that they would be auto drafting a roll-over. They want to charge fees for every form of payment. No one ever speaks good English - conflicting stories all of the time about someone calling me back, etc. Worst company ever!!!!!!
My mortgage was taken over from Shore Mortgage 2 months ago. I received a letter last month from Residential Credit Solutions saying that I have not paid my mortgage. I knew that it have been drawn from my bank account because it have been setup that way with Shore Mortgage. Today is the 9th of May and still the money have not been taken out of my account. I will be calling them today, but why is this company allowed to operate in the USA when they can't get their act together?
I have three rental properties with mortgages on them. The servicing was transferred in March 2014 from United Wholesale to RCS. It has been a nightmare from day 1. Every time I speak with someone, I get conflicting information. First I was told my auto draft would not roll over from UWM. Then I was told it would but only for the first month, then I would have to re-enroll. Then I was told I wouldn't have to re-enroll. Next, the first payment (April 2014) was auto drafted twice. I agreed to let the accounts be paid ahead, so that May would be covered and the next payment would be due in June. I checked my bank in May just to be sure and one of the loan payments had been auto drafted. I called and was told the funds would be overnighted back to me and we confirmed the address (my office) as I don't want it going to the property since I don't live there.
When I didn't receive the funds back after a few days, I called and was told it would take 7-10 business days to process. When I asked why the previous rep told me it would be overnighted, I was transferred to a supervisor who told me the payment WAS overnighted and I should be receiving it that day. When I STILL didn't receive it, I called back. At first, the rep wouldn't give me the overnight tracking number, but when he finally did, I looked it up and found it had been delivered to the property! It's a rental property in a semi-sketchy neighborhood, so I can pretty much kiss that check goodbye. I am now waiting for a call back from "Sunshine" the supervisor. I just want to pay the mortgage off at this point.
My loan was sold to RCS almost 2 years ago. I have an escrow account and they are suppose to pay my property tax out of that. They have not paid my property tax for 1 year. I have called, called, emailed, faxed and given them the tax bills many, many times. Every time I talk to someone in the tax department, they tell me another story. The latest is that they don't know if they own the property so they are having to get the original paperwork from when I bought the property. They are ruining my credit as it shows that I have not paid my property tax. I don't know what to do anymore except to file a complaint with the Attorney General's office.
I have talked to my County Assessors people and they say they have never had a problem like this before. I have had problems with my payments as well. There is now almost $500 owing in penalties and taxes are due again in 5 days. This company is a fraud. Please start a class action suit against this company. They are harming so many people and their credit.
This company received our loan after we refinanced. Our first payment was due December 1, 2013 and it took us until December 15 to get the account set up so we could pay them. Then February, our payment went up. They said it was an escrow shortage but we don't have an escrow account. Our payment is still increased as one person says it was a shortage of pmi for a month prior to when the loan started. Today's call they stated it was a shortage on homeowners insurance and now they paid our property taxes as they still think we have an escrow and will not accept the fact that they are wrong.
We have spent hours upon hours on the phone with these people with no resolution. They are still not reporting that we have a loan to the credit agencies and say it will show up 60 days after we have the loan with them. We have had the loan for five months. Quicken Loans who did the refi has tried to intervene with no luck. We are at our wit's end and ready to contact a lawyer as they are in violation of our mortgage agreement.
This has to be the worst mortgage company. My mortgage company was acquired by this lousy mortgage company over a year ago. I pay my mortgage each month by bill pay through Bank of America. Although I make sure that the date that my mortgage payment should be posted and sent to this company in advance of the due due date, this company takes an additional 6 days to receive and process my mortgage payment and then charges me a late fee. I had a Bank of America representative talking to a customer rep from RCS informing her of when payment was distributed and she said that it did not matter because payment was received after grace period even though Bank of America sent it before the end of the grace period. I hate this company so much!
You can write a letter asking them to cease and desist all phone calls. They are required by law to stop calling. I faxed mine in and had a confirmation letter back within a week. No more phone calls.
After reading your report that extra money is being added to your payment, first, check your insurance policy and tax information to make sure they have not increased. If they have not and you have a fixed interest rate, contact a lawyer. My mortgage was just sold to this company and I can already see an issue. They do not take electronic payments (from your bill pay site). You either have to mail it (and cust. serv. made it very clear that the mail is veeeerry slow - hmmm, trying to add on late fees?) or have it drafted from your account. Otherwise, you have to pay them fees to pay it on their site or by phone. Unbelievable! I am going to watch them very closely and if I have any issues that I believe are illegal, I will be contacting my attorney.
Since my loan was transferred to Residential Credit Solutions, they have been adding extra money to my loan but they cannot explain why the money was added. First they told me it was Escrow shortage, then they tried to tell me that the extra money which was being charged was a fee from 2009 loan modification. These people are very unprofessional and very difficult to get a hold of. The operator I was speaking with was unable to explain the charges so she took the easy way out and hung up on me. I am stuck with this company and I have to pay whichever amount they are asking for. If anyone knows a way so I can transfer my loan please let me know. THIS IS THE WORST COMPANY EVER!!!!!
Company sold our mortgage to Residential Credit Solutions. No late payments. They asked if we would like to apply to reduce our mortgage. Who would say no to that!? They then forced escrow on us doubling our mortgage, which by the way would have been more than what we paid in taxes. Long story short.... we found a buyer (cash buyer) for more than what was owed on the mortgage. First they said yes, then at the 11th hour (the day before settlement) they said they wanted even more money. We had a Realtor and an Attorney involved. Foreclosed on house the next day. SEEKING CLASS ACTION LAWSUIT. Contact me at **.
Our loan servicing was sold to RCS last year from BofA. As soon as I got the notice, I googled RCS to find out about them. As soon as I read all the complaints I knew we were probably doomed. We had been trying to get a modification with BofA but it apparently vanished into thin air..we decided to short sale. The process with RCS wasn't that harrowing because we had an expert realtor experienced in short sales and dealing with companies like this. As others have noted, it is impossible to call in to RCS. You can only fax or wait until they call you (which was every week for us). During the 5-6 months it took to finally short sale our house (three buyers...one finally worked) they settled for less than owed after agreeing to pay on the 2nd with funds from the borrower and their own. It really wasn't as bad as I had expected but that was ONLY because we waived all the modification offers and went directly to short sale on an offer that didn't hurt the investor too badly. Interestingly, the rep at RCS was named "Promise" and yes, she did keep her promise each week and call, plus let me in on where we were with the short sale process and what documents were outstanding. I guess we got lucky and did find a nice rental to start our lives over again after a major income loss. So, I can't slight RCS. They did their job in the situation we were in, but again, we agreed to sell the home and had a tiger for realtor.
Our mortgage was sold to RCS by Bank of America over a year ago. Everything seemed fine until we fell behind in our payments. They put us on a repayment plan and when we could not keep it up, threatened foreclosure. I spoke with a representative back on May 2013 to explain our hardship. She said we could apply to modify our loan. I sent in all the paperwork via fax, or at least I tried to send the papers. The fax line is always busy, or they will call and say they are missing particular documents and I resend them yet again. We have been going through this for months in the meantime falling further and further behind. They tell me not to send money that it will either not get applied or get sent back to me.
Last week I called and asked if we could just do another repayment plan and today I am sitting here for the past hour attempting to fax these documents once again. She stated that the last pay stubs I sent in January were now expired and I have to update my information. I am afraid we are going to wake up one day with the Sheriff at the door with an eviction notice. The foreclosure laws in our state are very lax and a person can be foreclosed on in less than 30 days. I was also told last week that our payments are $200.00 less than we were originally paying them. It makes no sense. If there is a class action against them, I would love to be in on it.
RCS bought my mortgage from BA. I used to pay BA on the 14th of every month. My grace period is until the 15th of every month as stated in my mortgage contract. I am not behind on any payments. Every day after the 1st, RCS calls my place of employment (supervisors line) with intent 'to collect a debt'. Let me re-iterate, my payments are not late. I have a grace period until 15th. They call the office every day for 14 days, then my cell phone. If I answer their calls & advise either of the grace period, they are RUDE, belligerent & unethical. Are there any lawsuits pending on this type of boiler room operation? Can something not be done about this type of unprecedented harassment?
Residential Credit Solutions Company Information
- Company Name:
- Residential Credit Solutions