Menu
CB Mortgage Companies Wilshire Credit Corp

The good, the bad, and the ugly - discover what customers are saying about Wilshire Credit Corp

Welcome to our customer reviews and complaints page for Wilshire Credit Corp. We understand that making informed decisions about where to invest your time and money can be challenging, which is why we've created this platform for our community to share their honest feedback about their experiences with Wilshire Credit Corp.

On this page, you'll find a comprehensive collection of reviews and complaints from real customers who have used Wilshire Credit Corp's products or services. Our reviews are authentic and unbiased, providing you with a complete picture of the company, its products or services, and their customer service.

Whether you're considering doing business with Wilshire Credit Corp, or you've already had an experience with them, our community's reviews and complaints will give you a valuable perspective on what to expect. Our goal is to help you make informed decisions about where to invest your time and money, and we hope that our platform will be a valuable resource for you.

Please feel free to browse our reviews and complaints and share your own experience with Wilshire Credit Corp. Your feedback is an important part of our community and will help others make informed decisions.

ComplaintsBoard
R
1:51 pm EDT
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Wilshire Credit Corp Slander and Theft

Wilshire Credit Corp, used collection agency tactics, slander and fraud when trying to take my home that caused financial and emotional damages in my life.

I was an unemployed, high risk, first time home owner with an ARM, first and second mortgage, interest only, zero down, no escrow with 5 PPP loans, bordering a flood zone. The perfect high risk target for Wilshire. Wilshire bought my loans 2 months after I got them from Wilmington.

Wilshire wrongfully reported my loan balances to the credit burro in order to negatively bleed my credit. Clearly Slander

On my secondary loan, I was paying into principle / equity but my credit report showed I owed more then I barrowed for both interest only loans. In 2 years when the ARM loans adjusted and I would not have been able to refinance out of the ARMs because of low credit score caused by Wilshire's Slander.

Wilshire forced flood insurance in an area that is not considered a flood zone, but does border one. This was the dispute that prompted me to refinance after only being in the home 9 months. There is more to this but I want this to be a summary of what happened to me and my family.

Wilshire never sent me a MIP Refund, isn't that Theft?

Collection Agency Tactics
The Software used to manage / service Home Loans was Collection Agency Software used to manage people with bad dept already.

Because they (Wilshire) call themselves a service company they don't have to treat us like we (The Homeowners) were still customers of a home lending institution.

My first payment to Wilshire was late due to one of the accounts not being set up correctly. Once it was I made the full payment for both loans at the same time.

Wilshire then charged late fees, I contacted them and they agreed to reverse the late charges. Not over.
They only reversed late fees on one of the loans not both so I had to all again. Then that got fixed and the late fees popped back up on the next months bill and on and on...

Dozens of calls later over several months it was fixed and the late charges were removed for good.
I can say during all the calls to try to get this fixed I got, the 1 hour hold, shifted from one person to another and another and then dropped, received then disconnected and probably a few others I have forgot now.

Wilshire is a predatory lender that is hurting the American people and should be stopped.

Read full review of Wilshire Credit Corp and 1 comment
Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

Hide full review
1 comment
Add a comment
G
G
goodmtgfella
, US
Nov 17, 2009 3:13 pm EST

you are clearly the reason the business is what it is.. in your own words:

I was an unemployed, high risk, first time home owner with an ARM, first and second mortgage, interest only, zero down, no escrow with 5 PPP loans, bordering a flood zone. The perfect high risk target for Wilshire. Wilshire bought my loans 2 months after I got them from Wilmington

the stupidest thing was to give you any money in the first place and you have the nerve to complain>? about a late charge? i am a loan officere and i wouldnt have lent you a dime to buy a stamp much less a house

you were pathetic to apply for a loan and they were more pathetic to give it to you

ComplaintsBoard
M
6:04 pm EDT
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Wilshire Credit Corp Posting payments

I purchase my home in 2005 with anough mortgage company about 6 month after my purchase the mortgage was sold to Wilshire everything was fine until my house was hit by tonardo, I had to move out of the house for 9 months for the repairs. Made my payments on time after that I download a form the computer to have my payment draft out of my account, they refused it them my payment was being recorded later than they started holding my checks than would later send them though my account which cause my account to be overdrawn. I almost lost my car had light turn off late on loans payment that are drafted out of my account it too me three months to get my checking accont straight out. At the same time try to foreclose on my house. I have done the repayment plan. Just before the payment was over they started calling me at work telling me that I have not made any of my payment this not so I told the represent who call that I am looking at my bank statement which show my checks had clear she arguing with me when I told I would be happy to fax the statement to her she said that would not be necessary not only my payment clear but they clear almost three weeks after the due date. Now I have to start the process over. When I sent the information again to them for the repayment plan, I am surpose to call and go over it with them they tell me the system all ways down. Now they refuse to except my checks so I asked if they would draft out my account declined. Wilshire has 179 complaint against them for this very same problem of not posting payments with the BBB and yet it the home owner who are losing their homes. When is Government going to step in a do something about this.

Read full review of Wilshire Credit Corp
Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

Hide full review
ComplaintsBoard
B
4:37 pm EDT
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Wilshire Credit Corp mortgage

wilshire credit corp tacked on 500.00 to my mortgage before i know if i got approved for a " Making home affordable program" for the taxes to be escrowed. How can they do this before an approval and if my mortgage was already to high what made them think i could pay an extra 500.00 a month. They did not even notify me to see if I could afford the payment.

Read full review of Wilshire Credit Corp and 1 comment
Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

Hide full review
1 comment
Add a comment
B
B
Boni
Kalamazoo, US
Dec 29, 2009 6:19 pm EST

They did the same to us! They set up an escrow account so that we could qualify for a modification through Hope Now or one of the help for homeowners programs. They had us send them all our financial documents to qualify for the modification. They now knew what we made, what we had saved, and of course; what we could not afford. The next thing we know is our next statement has $855.34 tacked on each month as an escrow. Our total payment went from $1, 166.75 to $2, 022.09! Of course we could not afford it. The escrow amount added up to $10, 264.08 a year . How can that be when yearly taxes are only $3346.68? They seriously overpadded it. That is highly illegal! Furtermore, they claimed to have paid our homeowners, they have not. Every month we pay it automatically from our checking. We had our Farmer's agent verify it three times. Wilshire never called that company not even once! Thank God we paid that. Now, according to the Real Estate Settlement Procedures Act, better known as RESPA, under section 10 of that act the amounts of an escrow account are limited. The maximum amount can not exceed yearly taxes and insurance-for us our taxes, plus an additional 1/6th of that total. That would mean that my escrow should have been $3346.68 +$522.78=$3869.46. Big difference from the $10, 264.08 they so fraudulently "figured."
So, we called them, many, many times. They told us they were looking into it and that as long as we paid what we could- still more than before the fraudulent escrow, the house would not go into foreclosure. They said they would get back to us in 45 days. They did not!
We called again when our payments were no longer being accepted and they told us we didn't qualify for a modification. Also, they sent back our last payment because it was not in full. On 11/23/09 we were sent foreclosure papers from their lawyers- ORLANS. We called and they said we owed 4 months! Not even true! And they tacked on legal fees to boot. We sent them a cease and desist letter for the illegal escrow and they sent us a letter back saying they would consider it within 60 days! I hate them. We now have our own lawyer and a housing counselor. Neither have good things to say about Wilshire. I hate them and I will bring them down- even if I lose my home in the progress! I am already broke, and potentially homeless by February 23; I have nothing to lose. I wrote letters to everyone, including the FTC and the MI states attorney general Mike Cox. I am awaiting a meeting with my state rep. Fred Uopton. I have sent all my copied paperwork to the local news agencies. Who else can I talk too?
Also- to those of you complaining of Wilshire's harrassment- I have had just the opposite! They never called us. They barely respond in writing!
How can they do this to people who are actually paying their mortgage? How much money did they get to partner with the new government programs?
Does anyone want to start/join a class action lawsuit against them?

ComplaintsBoard
S
11:04 am EDT

Wilshire Credit Corp Loss Mitigation

We sent in our paperwork for possible reworking of our loan to freeze our old interest rate that reset from 6.99% to 8.99% in April of this year. We sent our paperwork to Wilshire in Feb 08 well before our loan was to reset. We explained that we could continue to pay our loan on time with our current interest rate, but that the added 340.00 dollars per month at the reset rate was going to cause us great hardship. They confirmed receipt of all info they needed on March 13, 2008. It is now July 23, 2008 and we are still waiting for any response from Wilshire on this. Per Wilshire the process should have taken a few weeks to perhaps 6 weeks to complete. After repeated phones calls thru the most aggravating system I have ever used, they don't know why it's taking so long and have no explanation or information where the process currently is. I have sent many certified, delivery confirmation letters in regards to this as well as my phone calls with still no answer from Wilshire. We have been told that Wilshire has to respond in writing to us within 30 days of receipt of these letters, but are still waiting. Unbelievable! And there doesn't seem to be any resources to help us other than to attempt to hire an attorney that we frankly cannot afford. We are still struggling with making the higher payment, but these games that Wilshire plays with us are simply HORRID and should if not ARE illegal. Any help or info on this would be greatly appreciated. Any resource info would help us!

Read full review of Wilshire Credit Corp and 8 comments
Hide full review
8 comments
Add a comment
D
D
daniel babcock
Santa Clara, US
Dec 23, 2008 12:29 pm EST

This is a loan that I do not owe on anymore. I have foreclosed on my home. The house was bought out by another bank. It still shows that I still own the house and that i'm late on payment. I would like for this to be updated or taken off my report. It shows that i owe that money so my debt to ratio is out ragous.

M
M
Mary Zaugg
Seattle, US
Sep 11, 2010 8:36 pm EDT

Who do you call for help? I worked out a loan modification with Wilshire Credit Corp. around October/November of 2009. At the beginning of 2010 I was informed to make payments to Bank of America, which I have been doing. They have now informed me that I am not eligible for a loan modification and plan to foreclose. I have been making the payments and now don't know what to do. Wilshire has just about ruined my life. Does anyone know of anyone that I can get in touch with to get some help? I live in Seattle, Washington.

K
K
ksina1
Easley, US
Mar 12, 2010 11:44 am EST

on my, i have read all of these and it is sooo familiar i too tried to get a modification through them last fall and they sent me a letter telling me my payment had INCREASED by $300 (why would it increase if you are trying to get help) anyway they also paid my insurance and taxes with out me signing anything or notifying me about the intent too and then i had to send a letter asking them to cancel this escrow acct they created due to the fact that i requested assistance. They said they cancelled it and my payment was not back to normal and that i needed to reimburse them the $1200 they paid for our insurance and taxes which we did by wire transfer in feb. Then I also got a letter from BOA but it was in saying my mortgage is being sold, i went in today to pay my first official boa payment and was told that my payment amout was the higher amount! I was LIVID! they refused to take the payment because it was $300 less than wilshire incorrectly told them it would be, even though wilshire has already been paid back the $1200, i tried to call wilshire at [protected] and all i get is a fast busy and when i try to access the website its no longer availible? What can be done about these people doing this!

S
S
Scared in Arizona
Tucson, US
Mar 08, 2010 6:45 pm EST

I have been on a modification with Wilshire since October 2009 and have successfully made all payments on time. My loan was sold to BofA as of March 1, 2010. When I called my new servicer to pay my March payment they had no record of my loan and asked if they could check my credit to see if they could locate any loan history through Wilshire. I allowed them to do so, and to my surprise my credit history shows that I haven't made a payment in 6 months. Where did my money go? I called the "Home affordable" program I was alegedly on and this government agency had no record of me ever being on this plan. I called Wilshire and the phone is disconnected. I am assuming Wilshire has moved out of their offices in the middle of the night and left others like me in this horrible situation. The representative at Wilshire told me to send money orders during the modification trail period. That should have been my first clue something was terribly wrong. I'm devistated. My credit is ruined and I face loosing my home.

S
S
sharon mattis
Saint Petersburg, US
Feb 18, 2010 1:39 pm EST
Verified customer This comment was posted by a verified customer. Learn more

Wilshire is the worst mortgage company around. As a matter of fact I am planning to file a lawsuit against them. Their behavior is unethical and illegal. About 7 months ago I applied for a modification loan to reduce my monthly payments. I had to resubmit my forms 3 times because they claimed they did not receive it. Finally I spoke to someone who "found" the forms, reviewed them and said I was qualified. They sent documents that I needed to sign and return in a given amount of time if I agreed to the stipulations and the payments. Needless to say, the new payments they suggested were ridiculous; $342 more than I was paying before. I called them and decline the offer explaining why. They tried to convince me to take it but I refused. I have not received a mortgaged statement since September 2009. However, I continued to send my payments through my bank.
In December I received a letter stating that they paid my taxes. Now, I have always paid my own taxes and they know this. In January 2010 I received another letter stating that they paid for insurance when I already have insurance. When I call Wilshire they claim that insurance and taxes are a part of the modification program. What program? I never returned the paper work. Each time I call I am forced to speak to one idiot after another and the supervisors are never available. I plan to take legal action.

L
L
Louise M
Columbia, US
Jan 07, 2010 3:57 am EST

Wilshire has done the same to me. The house was foreclosed on 2007 (numerous phones to Wilshire for help were useless) now Wilshire is reporting it as an unpaid collection of 11K. All correspondence to them goes unanswered, I have the certified receipts to prove they have received my letters! What can be done about these people?

Louise M.

A
A
Alex Scott
Vallejo, US
May 28, 2009 3:26 pm EDT

I myself have a loan with this company and has not been successful in completing a difficult task with my mortage..please, someone report them to the better business bureau..along with a representation of a attorney...they are not responding to no one modfication loan workout problems..they are holding back federal monies that were allowed to help struggling homeowners stay in there homes...please...any on out there that can help us...GET THEM REPORTED...

R
R
Realty Mediation Services
,
Jul 23, 2008 7:10 pm EDT

I agree with everyone on this comment board and I am so sorry to hear about all the trouble that you are all having. This is the reason I started my company. I have helped several people that have mortgages with ASC, Countrywide, and other mortgage companies that don't seem to care if they harass people or suck them dry. The comments I have heard are along the lines of trying to get blood from a stone or turnip, or something like that.

Contrary to what some people have said on here, I am not trying to be one of those people I mentioned above. My company is a nationwide company that provides services for people that are at the end of their rope. One of the helpful things that we provide is letting you know, before payment for service, if we can assist you and if we can not. If we can not, we tell you why not and what can be done to allow our company to assist you. Most companies won't do that, but we will also give you the reasons why exactly so that, if you should choose a different service, they will not be able to scam you. Now that's a way of saving money too.

I have a service that actually will take you out of the loop of contact with ASC, or Countrywide or whomever you have servicing your loan. All you have to do is tell me how we can help you. By that I mean, tell us what you are looking for us to do for you and we will pursue the help that you want, no matter what. We have all aspects of the mortgage business covered from being a mortgage mediation company, a title company, a real estate company, all the way to having access to attorneys for litigation or help to avoid foreclosure. No aspect of help is turned away.

Let me tell you, most of the customers that I deal with have told me about the fear and the frustration of working with mortgage companies that don't seem to care or give them the runaround. To be totally fair, mortgage companies have their ways of dealing with people. Some are good, some are horrible. But one thing all mortgage companies love is being vague. When they are vague, they don't have to give you information until you ASK for it. How does that help you? How can you try to save your home if you don't know how to ask the right questions?

That’s another reason why I created this company. I take your number out of their "system". When they mail you something, it goes to me. I take the burden away from you so you can live your life without the phone calls and the letters. And the rudeness! Oh, man, if I told you some of the stories I have heard...let's just say, it’s not pretty.

I know that some people are going to look at this comment and go, this guy is trying to drum up business. Well, you're right. But here's the kicker. I used to work in mortgage collections. I used to make the phone calls and send the letters. I used to work around the people that make your lives hell. And I kept asking myself, why? Why are these people not being told about the help that’s readily available? Why are these people not being helped to make payment arrangements that are realistic? Why does this company care more about the money than about customer service when that is supposed to be their primary objective?

That's why I got out. I can not stand collections. Just because they are hiding behind a company name they think that they can say anything or act anyway they like with the customers, being friendly with one and the next 40-50 they can treat like crap. Where is the customer service?

I take all that frustration away from you and create solutions that work. I know that it may be hard to swallow, but I do. I have done it for several people. And I can do it for you too. If you want more specifics or just want to talk to me, call my office at [protected] and check out the website, which is being updated with a few new options available. And this isn't just for people facing foreclosure, people that are current and want to pay off their home early, call me. I can and will help as many people as I am able to. What have you got to lose? Website address is http://www.onlybusiness.com/members/RealtyMediationService...and if not for you, best of luck. In all your endeavors.

ComplaintsBoard
V
5:25 am EDT
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Wilshire Credit Corp Terrible way of doing business

Wilshire acquired my mortgage about 4 years ago. Before that it was with the Bank where I got the loan. Up until Wilshire acquired the loan i never had any problems with this loan. I was never late, never missed a payment. I still make my payment through the bank, they actually send the payment. The first problem i had with wilshire was payment posting. for some reason it would take anywhere from 10 to 14 days for them to receive or post my payment, then when it took 21 days to post my payment, i got upset and called to find out why, of course they tried to say that i didn't send the payment soon enough, but since it was sent out by the bank, with the date on it, it was hard to deny it was sent out on time, then they suggested the mail was slow, of course it only had to go a 100 miles. they finally removed the late fee, and i haven't had that particular problem since, and i still have the bank send out the payment at the same time, funny huh?

I have had several other minor problems with them since, but yesterday I got a letter saying they found out that my insurance had lapsed, so they secured insurance and are going to bill me for it. I have had the same insurance company for about 12 years, and it has never lapsed.

Two months ago they said my deductible was to high and needed to be adjusted, even though i have twice as much coverage on the house compared to what i owe on it. how can they decide what deductible i can afford? For informational purposes; I have pretty good credit and I am not, nor have I ever been behind on my payment. I do not know if it is true or not, but I feel like they are attempting to harass me to see what they can get away with.

I do think they should be investigated for questionable business practices.

Read full review of Wilshire Credit Corp and 1 comment
Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

Hide full review
1 comment
Add a comment
R
R
Realty Mediation Services
,
Jul 23, 2008 6:48 pm EDT

I agree with everyone on this comment board and I am so sorry to hear about all the trouble that you are all having. This is the reason I started my company. I have helped several people that have mortgages with ASC, Countrywide, and other mortgage companies that don't seem to care if they harass people or suck them dry. The comments I have heard are along the lines of trying to get blood from a stone or turnip, or something like that.

Contrary to what some people have said on here, I am not trying to be one of those people I mentioned above. My company is a nationwide company that provides services for people that are at the end of their rope. One of the helpful things that we provide is letting you know, before payment for service, if we can assist you and if we can not. If we can not, we tell you why not and what can be done to allow our company to assist you. Most companies won't do that, but we will also give you the reasons why exactly so that, if you should choose a different service, they will not be able to scam you. Now that's a way of saving money too.

I have a service that actually will take you out of the loop of contact with ASC, or Countrywide or whomever you have servicing your loan. All you have to do is tell me how we can help you. By that I mean, tell us what you are looking for us to do for you and we will pursue the help that you want, no matter what. We have all aspects of the mortgage business covered from being a mortgage mediation company, a title company, a real estate company, all the way to having access to attorneys for litigation or help to avoid foreclosure. No aspect of help is turned away.

Let me tell you, most of the customers that I deal with have told me about the fear and the frustration of working with mortgage companies that don't seem to care or give them the runaround. To be totally fair, mortgage companies have their ways of dealing with people. Some are good, some are horrible. But one thing all mortgage companies love is being vague. When they are vague, they don't have to give you information until you ASK for it. How does that help you? How can you try to save your home if you don't know how to ask the right questions?

That’s another reason why I created this company. I take your number out of their "system". When they mail you something, it goes to me. I take the burden away from you so you can live your life without the phone calls and the letters. And the rudeness! Oh, man, if I told you some of the stories I have heard...let's just say, it’s not pretty.

I know that some people are going to look at this comment and go, this guy is trying to drum up business. Well, you're right. But here's the kicker. I used to work in mortgage collections. I used to make the phone calls and send the letters. I used to work around the people that make your lives hell. And I kept asking myself, why? Why are these people not being told about the help that’s readily available? Why are these people not being helped to make payment arrangements that are realistic? Why does this company care more about the money than about customer service when that is supposed to be their primary objective?

That's why I got out. I can not stand collections. Just because they are hiding behind a company name they think that they can say anything or act anyway they like with the customers, being friendly with one and the next 40-50 they can treat like crap. Where is the customer service?

I take all that frustration away from you and create solutions that work. I know that it may be hard to swallow, but I do. I have done it for several people. And I can do it for you too. If you want more specifics or just want to talk to me, call my office at [protected] and check out the website, which is being updated with a few new options available. And this isn't just for people facing foreclosure, people that are current and want to pay off their home early, call me. I can and will help as many people as I am able to. What have you got to lose? Website address is http://www.onlybusiness.com/members/RealtyMediationService...and if not for you, best of luck. In all your endeavors.

ComplaintsBoard
V
12:15 pm EDT
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Wilshire Credit Corp They broke into my home

Wilshire foreclosed on a property in Arizona. I later bought it from a company that bought it at auction from the trustee that Wilshire hired to sell it. Two weeks after the auction, after I closed on my purchase of the property, they (Wilshire) ordered the home broken into by a national bullying company named Safeguard Properties [protected]). They (Safeguard employees) destroyed new locks we had just put in and in the process destroyed the entry door. During the first several hours of this issue both Safeguard and Wilshire hid behind a cloak of secrecy, a maze of never-ending phone trees, and no options to speak to a human being without an account number.

I'm going to charge them for the damages, the time I spent chasing this to ground, and I might as well add legal fees, duress, etc. Wish me luck.

Read full review of Wilshire Credit Corp and 2 comments
Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

Hide full review
2 comments
Add a comment
C
C
Christopher Fry
, US
Dec 13, 2015 9:07 am EST

I'm an attorney in California and would be happy to discuss this situation if it's happened to you. [protected].

R
R
rnjetc
Bannister, US
Nov 22, 2011 5:51 pm EST
Verified customer This comment was posted by a verified customer. Learn more

This is how it will play out: You go to court, bank says I don't know we hired it out, Safegaurd says we don't know that's one of our vendors. Even though SG contacts the vendor to ask them about the property they never contact the vendor to tell them the court date so they can defend themselves. SG or the bank doesn't submit anything the vendor even told them. So, you win and it gets past down to the lowest man on the pole with the most to loose. Safeguard won't pay they'll just charge us the contractors back for "doing what the work order said", which is so confusing at times it's ridiculous . It's one of their favorite lines to use. It's not their butt that pays, it's us. Don't get me wrong, I've heard of some bad contractors and if at fault they need to pay.

ComplaintsBoard
R
9:53 am EDT

Wilshire Credit Corp Not doing their jobs, no call backs

I was recently relocated from Washington State to Florida, My relocation company will buy the Washington property at fair market value which just so happens to be more then what the original loan was. The relocation company did get an offer from a private party however at closing Wilshire had added an absorbent amount of fees and late payments etc making the closing impossible to happen. The buyers walked. The relocation company is still offering the offered price through short sale but Wilshire will not return calls or take calls in regards to the offer. I have submitted all the papers required for the short sale however Wilshire has tagged my phone number to go to a loan officer's voice mail which never calls me back. I have received several certified letters of foreclosure but Wilshire will not get off their butts to make this short sale happen. Several Wilshire representative have said that the short sale offer was a good one comparatively. So, I wonder am I being scammed in some way so that my house will go into foreclosure and Wilshire will come out on top through Govt help? or what can I do about this? I have been calling Wilshire daily for 5 months and am no further at this point then I was when I started (Interest still growing). My wife wants me to hire a real estate Attorney, but I don't know if or what my case would be. Anybody else have this same experience? Need help soon!

Read full review of Wilshire Credit Corp and 4 comments
Hide full review
4 comments
Add a comment
W
W
wilshireSucks
NV, US
Nov 24, 2009 7:10 pm EST

haha, i wanted to develop a website stating how wilshire was scamming me! i like Ms Cooke am also suffering from the economy right now. Never been late on a payment, and i contacted them because I just simply ran out of money and filed for a government modification. Upon contacting them to get a status update, I have been told 4 differnt time frames by as many ppl...first it was 45 days, then it was 45-60+days, then it was 30-45 days, one person even told me 90-120 days! they are a bunch of scammers. Never a return call from my loan officer, had to deal with customer service. Oh well if my house gets foreclosed on guess who looses out...they do because there are 6 homes that are much nicer than mine on a street of about 25 homes. Mine if in foreclosure wont sell for much...but I guess the 30K interest that I have paid over the 6 yrs will cover their losses. I would like to see anyone come and take my home! As Heston said and Im changing it around "You can take my house ... when you pry it from my cold dead hands!"

R
R
R Quig
Glendale , US
Feb 23, 2009 4:20 am EST

My Name is Richard Quigley Glendale Arizona and everything I have heard so far about Wilshire credit corp is the truth. I have been with them servicing my loan now for past 8 yrs, when the countrys mortgage fell apart and work became slow also I had an adjustable rate mortgage that increased over 800 monthover my original payment was I asked them for help they sent me a finacial statement to fill out send back and I did they did a faberance they call it not lowering my payment to me being able to catch up and stay currant no they put me at a payment over 700 a month higher then what my finacial statment said I even made! wilshire set my loan up to fail from the word go on their forberance plan and offered no help to me what so ever well wait they did finally call me one day before scheduled forclouser of my home and asked me if I could find a room mate or something. I was shocked! didnt know what to say! so My response was I laughed at them! I said thanks for the compasion, understanding of me being placed in a predator adjustable rate loan all the letters of proof of fraud I sent them and they said well if you win your case then you can put some money on your mortgage right? wilshire is the worst company that I have ever delt with in my life they threw myself and my kids out of our home of 9yrs even after I sent them documented proof that I was part of a investagation with the state attorney genrals office against a loan broker who commited loan fraud and bank fraud! they didnt care and said well thats not our problem real nice people they are every chance I get I will bad mouth wilshire credit corp not for the forclouser of my home that I didnt deserve so much as the way they conduct business when and if you can get a hold of them they run u around and really dont care they prooved it to me! thats for sure thanks wilshire your organization are true ###s I must say! sincearly R. Quigley Glendale Arizona

M
M
Ms Cooke
,
Aug 27, 2008 11:20 am EDT

I too have been contacting Wilshire since March for assistance. I have had some financial burdens and am behind on my payments. I have answered every request for assistance several times. Faxes, phone calls, etc... I have yet to hear from a representative. I do not want to loose my home becasue they could not be bothered to pick up the phone. I do however continue to get letters and statements. They have even reaised my payments $500.00 a month after I requested help! This is insane, Do I get an attorney?

R
R
Realty Mediation Services
,
Jun 10, 2008 5:10 pm EDT

I agree with everyone on this comment board and I am so sorry to hear about all the trouble that you are all having. This is the reason I started my company. I have helped several people that have mortgages with ASC, Countrywide, and other mortgage companies that don't seem to care if they harass people or suck them dry. The comments I have heard are along the lines of trying to get blood from a stone or turnip, or something like that.

I have a service that actually will take you out of the loop of contact with ASC, or Countrywide or whomever you have servicing your loan. All you have to do is tell me how we can help you. By that I mean, tell us what you are looking for us to do for you and we will pursue the help that you want, no matter what. We have all aspects of the mortgage business covered from being a mortgage mediation company, a title company, a real estate company, all the way to having access to attorneys for litigation or help to avoid foreclosure. No aspect of help is turned away.

Let me tell you, most of the customers that I deal with have told me about the fear and the frustration of working with mortgage companies that don't seem to care or give them the runaround. To be totally fair, mortgage companies have their ways of dealing with people. Some are good, some are horrible. But one thing all mortgage companies love is being vague. When they are vague, they don't have to give you information until you ASK for it. How does that help you? How can you try to save your home if you don't know how to ask the right questions?

That’s another reason why I created this company. I take your number out of their "system". When they mail you something, it goes to me. I take the burden away from you so you can live your life without the phone calls and the letters. And the rudeness! Oh, man, if I told you some of the stories I have heard...let's just say, it’s not pretty.

I know that some people are going to look at this comment and go, this guy is trying to drum up business. Well, you're right. But here's the kicker. I used to work in mortgage collections. I used to make the phone calls and send the letters. I used to work around the people that make your lives hell. And I kept asking myself, why? Why are these people not being told about the help that’s readily available? Why are these people not being helped to make payment arrangements that are realistic? Why does this company care more about the money than about customer service when that is supposed to be their primary objective?

That's why I got out. I can not stand collections. Just because they are hiding behind a company name they think that they can say anything or act anyway they like with the customers, being friendly with one and the next 40-50 they can treat like crap. Where is the customer service?

I take all that frustration away from you and create solutions that work. I know that it may be hard to swallow, but I do. I have done it for several people. And I can do it for you too. If you want more specifics or just want to talk to me, call my office at [protected] and check out the website, which is being updated with a few new options available. And this isn't just for people facing foreclosure, people that are current and want to pay off their home early, call me. I can and will help as many people as I am able to. What have you got to lose? Website address is http://www.onlybusiness.com/members/RealtyMediationService...and if not for you, best of luck. In all your endeavors.

ComplaintsBoard
K
7:27 pm EDT

Wilshire Credit Corp taxes

well I had one of those adjustable rate mortages, I was late a few times because wilsire mortage company rolled my taxes in my payment. I sent them a letter to tell them I pay my taxes on my own I was only 5 months from being late on paying the county. I just went though a divorce and money was tight. They charged me 1000.00 extra a month, but could work out a payment plan that took 2 months to approve. so I fell behind and intrest and extra late fees happened . so to this date I am current with them on my mortage but the repayment plan over 36 months would be 125.oo extra per month on top of the 300.o per month new escrow which should be 425.00 each month on my payment. to date I pay 681.00 per month to my taxes. I have sent letters, faxes and e mails to this company and I get no where! I would never want any one to use this company again!

Read full review of Wilshire Credit Corp and 1 comment
Hide full review
1 comment
Add a comment
N
N
Nicole Underhill
,
May 20, 2008 10:06 pm EDT

You had better make sure they are paying your taxes
they put us in a restructure and our taxes are forfeited which is 100% illegal.
They are taking our house for taxes Feb 09 and I gotta tell ya, if the lawyer can't help us I am not going to pay the taxes because our house burnt down while we and Wilshire (forced) both had insurance on it and it looks like they are trying to collect twice.
If your mortgage is sold to this company better put it on the market because you are as good as screwed.
its sad to say but they live to take your house and sell it when the market turns which makes Meryl Lynch stockholders buku bucks in the long term.
Doing away with the middle class folks.

ComplaintsBoard
P
12:00 am EDT

Wilshire Credit Corp Bogus fees!

We have been charged a bpo fee, which is a brokers opinion fee, that was $100. We were not informed of this charge it was added to our sept 2007 payment without notice. After three disturbing phone calls to wilshire, nothing resolved. Furthermore, they requested copy of paid property taxes. We have faxed this to them five different times. Then we were told we used the wrong fax number to their company. This has been going on for six months. Listen to this people! On their letter head of the letter requesting tax payment, is the wrong fax number. This is how they added the bpo fee. Maybe they intend to foreclose on our home? Remember people, our payments are not behind, and all taxes and insurance has been paid in full.

Avoid this company people!

Read full review of Wilshire Credit Corp and 30 comments
Hide full review
30 comments
Add a comment
T
T
terrymander
Lake City, US
Jun 27, 2009 1:43 pm EDT

sounds like you may need a loan audit. I had my done by American Loan Modificationn Group, AKA National Mortgage Solutions. They audited my mortgage found errors and used those errors as leverage over my wilshire to get me a good modified mortgage [protected]

W
W
WILSHIRE IS RAPING YOU!!!!
Portland, US
Jun 27, 2009 9:37 am EDT

YOU MAY BE ABLE TO GO AFTER WILSHIRE WITH A (TILA) TRUTH IN LENDING LAWSUIT. THEY HAVE TRIED TO CONVINCE ME THAT MY HOME IS AN INVESTMENT PROPERTY SO THEY COULD FORECLOSE ON IT EASILY.MY HOME IS IN FACT MY PRIMARY RESIDENCE, ONLY PROPERTY I OWN AND THIS WAS DISCLOSED TO THEM AT THE TIME I APPLIED AND CLOSED THE LOAN WITH THEM.BASED ON (TILA) LAW THEY WERE SUPPOSED TO PROVIDE ME WITH A 3 DAY RIGHT TO RECISSION(RIGHT TO CANCEL) IN WRITING AT THE TIME OF CLOSING ON MY REFINANCE.THEY DID NOT, IF THEY DON'T PROVIDE YOU WITH A RIGHT TO CANCEL, YOUR RESCISSION PERIOD IS EXTENDED TO THREE YEARS FROM THE DATE OF THE CLOSING.THEY ARE PREDATORY, DISHONEST, VULTURES IN THE BUSINESS OF FORECLOSING ON PEOPLES HOMES. THEY OFTEN DON'T ANSWER OR RETURN PHONE CALLLS, THEY HARRASS YOU EACH TIME YOU CALL THEM AND TRY TO DISCOURAGE YOU FROM CONTACTING THEM TO TRY AND GET A LOAN MODIFICATION OR ANY TYPE OF CORRESPONDANCE WITH THEM.THEY WILL HANG UP ON YOU, HAVE RUDE SERVICE PEOPLE, WILL TELL YOU THAT IT TAKES 3 MONTHS TO REVIEW YOUR REQUEST FOR A LOAN MODIFICATION, AND ARE OVERALL FRAUDULENT. THIS COMPANY SHOULD BE CLOSED AND NOT ALLOWED TO DO BUSINESS.THEY ARE ONE OF THE REASONS THE ECONOMY IS THE WAY IT IS.THEY DO NOT OFFER HOMEOWNERS DECENT TERMS OF FINANCING AND THEN LOOK TO TAKE ADVANTAGE OF YOU WILL ALL TYPES OF TRICK CLAUSES TO STRIP YOU OF YOUR HARD EARNED MONEY WITH OUTRAGEOUS FEES AND ATTORNEY FEES AND MORE FEES THAT WILL BE DUE NOW, AND AGAIN IN 3 MONTHS AND AGAIN IN 3 MONTHS FROM THAT, ADDING UP TO TENS OF THOUSANDS OF DOLLARS. THIS COMPANY IS THE REASON HOMEOWNERS WILL CONTINUE TO BE FORECLOSED ON AND PROPERTY VALUES WILL CONTINUE TO DECREASE.IT DOES NOT MAKE SENSE THAT THEY WOULD WANT TO ATTEMPT TO RECOVER A LARGE AMOUNT OF MONEY OVER THE ACTUAL VALUE OF YOUR HOME DUE TO DECLINING MARKETS INSTEAD OF WORKING OUT A FAIR DEAL WITH A HOMEOWNER AT A REASONABLE INTEREST RATE.MORTGAGE RATES ARE IN THE 4 & 5's% RANGE AND WILSHIRE LOVES TO TAKE PEOPLE AT DOUBLE THAT USUALLY 8, 9, 10, or 11's%.THEY ARE PREDATORY AND NEED TO BE STOPPED.WHEN THE US MORTGAGE AND FINANCE MARKETS TURN BACK INTO A MARKET WHERE LENDERS ARE COMPENSATED FAIRLY FOR THEIR DEALINGS WITH BORROWERS AND NOT REWARDED FOR RAPING THEIR HOME EQUITY, LIVE SAVINGS, EFFORT OF HARD WORK AND MORALE BY STRIPPING PEOPLE OF THEIR AMERICAN DREAM OF HOMEOWNERSHIP THEN THE ECONOMY WILL RETURN TO NORMALCY.

C
C
carol
Dracut, US
Apr 17, 2009 8:41 pm EDT

we lost our home thanks to wilshire.they wouldnt help lower our payments they wouldnt even talk to us.one day we were in work they sold our home.never even notified us.count us in on a lawsuit.

D
D
diott1
Indianapolis, US
Mar 02, 2009 8:19 pm EST

I to bought a home in October of 2006. I had my loan bought out by Wilshire about two months after I signed the papers. And like everyone esle I lost my job. However, I did manage to keep my mortgage payments current for about eight months of the 16 months I was unemployed. I have called repeatedly, to work something out with these people and like everyone else I was given the run around. I submitted there paperwork several different times for a modification on my loan. But, I never got any return phone calls, I always had to make them and if I missed the eight o'clock open time I never could get anyone on the phone. I was told there would not be a problem with the modification and GUESS WHAT, they put me into foreclosure. I have since retained a attorney to file bankruptcy to force these people to speak with me but, to no avail. They have forced Flood insurance premiums on me two seperate times and then filed penalty and late fees that once I proved I was not in a flood zone they would not retract. So I ended up being over 9, 000 behind when in fact I was only about 3000.00 behind. I was continually, and I mean every week, sending them a check of at least 400 per paycheck. That apparently was not good enough. CLASS ACTION LAWSUIT, OH yeah they need one! Count me in on this one. They are trying to take a family home that my spouses grandfather built! They also keep pointing out the amount of equity that is in the home. What is the point of that? I do not want a second mortgage to satisfy these greedy buggers nor do I intend to get one!

D
D
Dennis M. Halcomb
,
Aug 05, 2008 2:53 pm EDT

Please contact me about one of your clients.

thank you,

I
I
Indiana
,
Jul 28, 2008 12:14 pm EDT

We have owned our home for 9yrs before we refinaced in Oct 2006 within 2 weeks we were picked up by Wilshire Credit and within a month they said we did not have insurace on our home we had State Farm send over papers showing our coverage that is when they said that we had to have flood insurace on our home. We had never had flood insurace we have 11 acres and do have a creek at the back of our property but not close to the house so we sent mapping showing the flood level out here and they would not respond instead they added FORCED PLACED FLOOD INSURANCE on us at $445 per month. This is when we contacted our attorney and got him involved but they would not respond to him at all. So we continued to make our mortgage payment just not the extra $445 per month for several months until we got one of our payments back which was March 2007 when they sent out a Forclosure notice. Since then we have also had a FLOOD CERT. done on our propery showing that our house is not in the flood way and they still are not wanting to settle with us. We went to court on Friday and the Judge threw out our Flood Cert. and said we have 30days to pay back all payments including all attorney fees and court cost. We are waiting to hear what # Wilshire comes back with that we owe but this fight is not going to stop here. If there is anyone that has helpful information for us we would love to hear it. Please email it to me at shilkett@comcast.net

J
J
Joyce
,
Jul 14, 2008 10:00 am EDT

I am interested in participating in a lawsuit against Wilshire. I have documentation to back up my stories. Anyone with ANY info, please let me know.
Thanks
joycedur@yahoo.com

A
A
Alex
,
Jul 05, 2008 11:11 pm EDT

How do we start a class action suit against this company for unscrupulous dealings?

S
S
Serge Jean
,
May 25, 2008 2:37 am EDT

Our mortgage has jumped from $1478 a month to $2600. So far we have talked to many of their agents, and no one seemed to know why such a drastic jump. We have contacted Bill O'Reilly, Obama and Hilary. Only these folks can force Wilshire out of business.

F
F
FreeDove
, US
Apr 17, 2008 7:43 am EDT

We bought our home from a guy as a for sell by owner deal. The seller worked with a company that had something to do with mortgages and lending and the whole thing was done in two weeks from the first day we saw the house. That should have alerted us but we were so happy to be getting out of the bad neighborhood we were in. We didn't know there would be a second lein in the deal of $25, 000.00 until the day of closing of which originally was through the same home lender Accredited Home Lenders. A short time later the second lein was transfered to Wilshire Credit Corp. My husband and I aren't very in the know on home buying and didn't think very much about it at the time. But we have been making payment of $246.61 for the past six years and the total principal paid is barely $1000.00! They only credit us with $15.94 to $16.09 towards the principal per payment and nothing goes into Escrow and we still owe $24, 827.04 after 6 years!
I am 57 years old and disabled since buying the home and my husband is 62. I want to refinance the home and combine the 2 loans at a lower interest rate but after watching a special on TV about the shady home lenders I have no idea who to go through. I wish there was some legal action lawsiut that I could become a part of. They have really shafted the people and it is horrible what they are doing to us. Where do we turn for help? Isn't there anyway to get justice?
Please anyone email me if you have any advice that can help.
Thanks
Janis

Elevating the Voice of the Consumer

Empowering Real Complaints

At ComplaintsBoard, we understand the impact of genuine consumer grievances. Our platform is a dedicated space for authentic voices, where complaints, both positive and negative, are shared with honesty and transparency.

Dedicated to Validating Complaints

We are committed to ensuring the authenticity of every complaint. Our team uses rigorous verification methods to confirm that each complaint stems from a real customer experience, maintaining the integrity of our platform.

Encouraging Detailed Complaint Narratives

We value complaints accompanied by concrete evidence. Be it a photo, a detailed narrative, or additional documentation, such substantiation lends credibility to your complaint, aiding others in making informed decisions.

Balanced and Constructive Dialogue

ComplaintsBoard is more than a platform for airing grievances; it's a community where balanced dialogue is encouraged. We welcome complaints that not only point out issues but also recognize any positive interactions, promoting a fair and comprehensive perspective.

A Free and Impartial Platform for Complaints

Our unwavering commitment is to provide a free and unbiased platform for all complaints. Every complaint is given equal importance, ensuring your concerns are heard and respected, irrespective of their nature.