| 12/01/2020 |
Yes |
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- Trouble during payment process
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Web |
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On XX/XX/XXXX we purchased a home in XXXX. We sold two homes around the same time. One sold in NH on XX/XX/XXXX and one sold on XX/XX/XXXX. I could have paid for our new home in cash but I didn't want to be cash poor so I wanted to put over 50 percent down on our new home. Purchase price was XXXX. I wanted to put down. XXXX. The mortgage broker would not let me do a conventional loan even though I had had one for about 20 years ( one with my first husband since XXXX and one on my own since XXXX ). I have a high credit score and I was putting down XXXX cash. The mortgage broker told me because I was divorced and my ex husband had lost his job during cover and we changed child support and didn't have supporting documents he could not give me a conventional loan but and FHA with PMI. RMS in XXXX Ma made me get my divorce lawyer involved and had my ex husband go and get a piece of paper notarized stating we changed child support to XXXX a month versus XXXX as he had lost his job during covid. RMS Residential Mortgage Services out of XXXX also had me call my XXXX XXXX XXXX and go back 3 years to get past child support and spousal support payments. This took me about 6 hours on the phone to do. I did all of the above and it was still not enough for RMS. So they put me on an FHA loan with PMI even though my credit score was high and I had 50 percent down. I had also remarried in XX/XX/XXXX but they refused to put my new husband on the loan because he only had an IT number and not a SS number. So his income was not included on anything.He has paid taxes in the US for over 16 years. This was THE most stressful mortgage process I have ever been through. I will never understand why I am getting penalized for putting down 50 percent and having good credit. They also kept making me jump through hoops to await the close of my NH property. Make me change the closing date up there to match the one in Ma and then not letting me close on XX/XX/XXXX for the mass home. My husband lost 4 days of work and I had to pay XXXX extra to the moving company ( for storage ) because RMS could not give me a closing date ( they kept changing it ) after jumping through every hoop they asked me to jump through including : getting the NH property to close on XX/XX/XXXX, getting a divorce attorney involved, having my ex husband sign notarized paperwork stating he lost his job and we voluntarily changed child support, get 3 years of documentation from XXXX to show what child support and spousal support had been in the past. So we lost XXXX dollars to moving company and another XXXX for my husbands unpaid work as he took time off for us to move and then the closing date changed. I was also told that I should take a loan out against my 401k in order to get our new home even though I was selling two homes at the same time and putting down over 50 percent on new home. It was just absolutely absurd and ridiculous. The sellers realtor for the home we purchased even said this is not right and I should make a complaint as I had so much money to put down and a good credit score. She had never seen anything like this happen before. I am really annoyed I am paying PMI. I had no choice as the people buying my home were threatening to sue if the closing did not go through. I was forced into the FHA loan and the PMI.
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| 01/02/2017 |
Yes |
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- Application, originator, mortgage broker
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Web |
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Residential Mortgage Services ( RMS ) provided predatory lending : the unfair, deceptive, or fraudulent practices of some lenders during the loan origination process. I had a credit score of over 750, income of over {$65000.00}, no current debt, good work history, and over 20 % down payment in cash. The branch manager failed to educate and purposely provided selective information about FHA and Conventional loan. He explained the Conventional loan as " no good '' and referred to it as the " XXXX '' loan who only benefits " white people ''. The FHA loan was explained as the " Obama '' loan and the only loan that I would be able to qualify for. He intentionally and purposely informed me of information to force me to obtain a FHA loan. False information was provided to me. For example, I was informed by him that the only way to eliminate a PMI was to provide a 20 % down payment which is incorrect. After gathering further information, I created a chart flow that presented the amount of money I would be required to pay over the life of the loan for both the FHA and Conventional loan. It clearly demonstrated that thousands of dollars would be saved with a Conventional loan. This goes to show that obtaining the FHA loan is beneficial to RMS than it is to the borrower. All information gathered as well as the chart flow was brought to the branch manager 's attention where he admitted that it is accurate and that he failed to provide us with this information which resulted in us choosing the FHA instead of Conventional loan. He stated he was " sorry '' but being that it is the day before closing we had to proceed with the FHA loan. Prior to this meeting the day before closing, I tried numerous times to contact the office by email and phone but was ignored. The office purposely ignored us to by time and to prevent us from switching to the Conventional loan. The branch manager also forced us to use a particular lawyer and even credited us money towards closing to use her. The day of closing the lawyer forced us to sign all paperwork all while only one owner was listed on the title. The branch manager knew to include both names to the title and ensured us it would be done yet only one name listed at time of closing. The lawyer stated that lenders do not recomend quick claim deeds but that is how she will add the second name to title. The branch manager was contacted numerous times by all parties at the time of closing and failed to respond. He responded 4 days after closing.
Please see attached of a previous customers experience at RMS : http : XXXX
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| 03/05/2018 |
Yes |
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Web |
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I was pre approved for a mortgage loan on XX/XX/XXXX. I kept getting educational emails from them while I was in the process of looking for my home. When ever I had a question I could not reach the lender right away. I would not hear from the lender not until a week later. I let my lender know.this was my first home. There was a lot about the process that I did'nt know. I asked my lender about 2 months in advance if he could find me a down payment assistance program.He told me that he was looking into and he will get back with me. It was about a week before closing and finally after me leaving several messages his secretary calls. She told me that XXXX XXXX will be giving me a call. XXXX XXXX called me and told me that he was not able to get me the XXXX for the down payment. I lost the contract on the home. My family is still in the process of looking for a home. Also my credit was pulled back in XXXX by this company to get pre approved. I received a pre approval letter stating my credit score and all documents that I turned in, proof of income etc..was good for 120 days. My credit was pulled again by this company on XXXX to qualify me. This I did'nt understand do to what the pre approval letter stated. There was some changes in my score from XXXX XXXX XXXX. My score dropped since the first inquiry. I feel like I should have been notified immediately that I could not qualify for the down payment assistance so that I could have went another route. Also, the 120 days that was stated on the pre approval letter was not over before they checked my scorces and documents again.The company name is Residental Mortgage Services ( RMS ). They are located in XXXX, Md. My lenders name is XXXX XXXX.
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| 11/26/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Problem with a credit reporting company's investigation into an existing problem
- Investigation took more than 30 days
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Web |
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Despite me having made all mortgage payments on time and as agreed, Residential Mortgage Services has reported inaccurate, false and misleading information on my account and now has refused to fix my credit reports. I have twice disputed the inaccuracies and in fact RMS 's own customer service did agree with me that they had my payments and sent them back and that they should have applied them correctly and she wasn't sure why they were sent back to me. She stated that she would also file a dispute on her end on my behalf at least thats what I was told by cutomer service. I am not sure if they ever did file a dispute. I have provided substantial proof of payments to the company. RMS failed to properly allocate these timely made payments that I sent to them and in fact RMS sat on these payments for well over a month before they decided to send me back my payments. They sent my payments back to my bank and then went ahead and reported these payments as being late or never recieved. RMS failed to ever call me, email me or send correspondence as to why these payments were not being applied correctly to my accounts. They did go on and report false inaccurate and misleading information to the credit reporting agencies as a result of their own errors and refuse to acknowledge their mistake and correct my records.I have attached further explanation and proof of documents and will be reporting to other consumer agencies but will try this avenue before seeking legal help for damages. Please help me get this corrected.
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| 08/20/2015 |
Yes |
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- Settlement process and costs
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Web |
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I have been trying to go to settlement for over a month. It was scheduled again today, and now the mortgage company says they are not ready AGAIN!!! The people at Residential Mortgage Services ( NMLS # XXXX ) in XXXX, PA seem to be completely inept. I 'm beginning to wonder if they are even a licensed mortgage company. This has moved well beyond ridiculous now, and I have inconvenienced and cost many people through this whole process. I am the seller in the transaction and need to get this done.
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| 08/30/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Other personal consumer report
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- Identity theft protection or other monitoring services
- Received unwanted marketing or advertising
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Web |
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| 02/26/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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| 07/12/2018 |
Yes |
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Web |
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| 03/23/2018 |
Yes |
- Mortgage
- Other type of mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Referral |
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| 09/22/2017 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Phone |
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| 12/11/2015 |
Yes |
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- Application, originator, mortgage broker
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Web |
Servicemember |
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| 10/29/2015 |
Yes |
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- Application, originator, mortgage broker
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Web |
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| 10/29/2015 |
Yes |
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- Credit decision / Underwriting
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Web |
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| 03/11/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Credit decision / Underwriting
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Web |
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| 02/20/2015 |
Yes |
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- Loan servicing, payments, escrow account
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Referral |
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| 02/28/2012 |
No |
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- Loan servicing, payments, escrow account
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Web |
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