Wilshire Credit Corporation Complaints & Reviews

Wilshire Credit CorporationModification Delays

This Company utilized forced insurance on an 87 years of widow on a fixed income and has nearly doubled her monthly payments. They knew she had no other means of support and income; and also knew she could not acquire insurance...not even with Citizen because her 4 point inspection failed. They knew her roof was in need of complete replacement and for months stalled on processing the modification. Now they have sold her to another mortgage company. The stipulation would have been to get her roof fixed, once they modified the loan and then she would acquire insurance and sustain and maintain a lower monthly payment. As is...she still has a payment higher than her Social Security check and has to worry where she will live the remainder of her years. It is really a sad situation!!!

  • Da
    Dan Novik Mar 22, 2010

    F--K WILSHIRE!!! They have/had been giving the BS runaround on a forebarence agreement/loan modification for 15 months and now they sell my Mortgage to Bank Of America/India and I still can't get a freekin' answer. What a bunch of RAPISTS!!!

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  • Ee
    eea12 Apr 02, 2010

    I AM IN THE SAME SITUATION CAN ANYONE HELP? WILSHIRE SOLD MY LOAN, I RECIEVED THE LETTER THAT IT WAS SOLD TO BAC BUT BAC SAIS THEY DONT HAVE MY LOAN

    ERICA ALVAREZ
    [email protected]

    0 Votes

Wilshire Credit CorporationMortgage lending

Interesting reading all the Wilshire complaints that seem to mirror my own experiences with them.

Complaint #1:Had water damage that was appraised at $12, 000 damage. Our insurance check was issued to us and Wilshire, requiring their sign off. After we sent the check to Wilshire with all the required repair quotes and paperwork it took over 6 months to get the first half and another 18 mon to get the next portion, and would you believe they still have not sent us the last $3000 yet. What makes it worse is every time we talk to someone (after being on hold for over 45 min)they request "one more" quote, then they sit on it until 30 days later then tell us we need a new one becasue it is now 30 days old.

Complaint#2:We got a couple months behind in our payments due to income loss, we called Wilshire and were reassured everything would be fine as long as we filled out their Hardship paperwork. We submitted everything and had been told they would not except any payments until this was resolved. By this time our income loss was resolved and we could resume payments, but they still would not except (we were three months behind). I called weekly, was on hold for 45-90 minutes each time and every week was told there was no news yet. After 90 days they had not addressed our situation and now had to resubmit everything again. This happened a total of 4 times, all the while they still would not accept payments. We finally received a new payment agreement for $4100 per month, our original payment was $1400. We filed an appeal and now just received notice that they sold our mortgage to BAC...the drama continues.

Wilshire Credit CorporationScammed

My husband fell back on his mortgage due to financial setbacks. We notified wilshire to let them know if we can fill out a hardship form. So they sent us one in 1/07. So in the end of 2/07 I asked them did they look over our hardship form and they said they could not find it so. I said would you please send me another one so they did. I did not receive it until late June. I faxed over it and mailed it with all our personal papers to make a long story short they finally told me and my husband that besides us being behind on our mortgage that it also went from 6.75 Percent to 9.75 Percent. We don't want to lose our home but this is not right. Oh by the way we asked them to refinance us and they said they have nothing to do with that part.

My husbands credit is not good and we are late with our payments but no one will help us in this situation.

Wilshire Credit CorporationUnauthorized billing

I sent Wilshire Credit Corp Six money orders totaling 1392.69 and I sent it certified mail and USPS verified they received the letter and westernunion verified when it was cashed and whilshire stated today they only received 645.00. I have totally had it with this company I am going to file with the Attorney General and then seek legal counsel. I have all of my receipts and this is a very bad company. If the FTC gets enough complaints from this company the will conduct and investigation. So the more complaints they get from consumers the closer we get to justice. Please everyone who is having a problem with company like myself call the FTC (Federal Trade Commission) enough complaints will warrant an investigation. Their are 72 complaints well we need 72 complaints filed with the FTC and then some. pass the word along.

  • Da
    Daney Dumdeang Oct 15, 2010

    I totally agreed with you This company stole $9000..i payment was 900..they made number read 9000 i couch them i told my financial institution..to take care of me they send me back 8000..now they report me late for that month..they are BS..I donot know where are they now?Do you know where is it?i like to kick their [censor].
    Daney

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Wilshire Credit Corporationhardship program my ###!!!

We had originally had our loan with a different company and they sold our mortgage without permission to Wilshire Credit Corp. Things went fine for about 2 years and then the high interest rate was put upon us as we bought the house in 2005. They increased our payment by several hundred dollars. My wife had to have 6 surgeries on her leg and is now having to file disability and we applied for a hardship loan modification and they told us to hold off sending payments for 2 months until they finalized the deal and they would refinance our escrow payments in with the remodification. They came up with a payment we could afford and we made that payment and they very next month they increased our escrow payments from 139.20 a month to 190.50 per month and used the excuse that it was the two months escrow we didnt pay, cause they told us not to that they would add it in, and was also a "cushion payment of an extra 304.00" just in case so they can make sure we have enough in our account to pay our insurance and taxes. I called the tax assessor and our insurance company and neither had increased in payment . We called for 3 days talking to Wishire and they said we had to pay it regardless. So instead of lowering our payment in they hardship program, they increased it more than it was. I suggest anyone doing business with people to get refinanced out from under them quick or they will nail you for as much money as they can and there is nothing you can do about it.

  • Ci
    Cindy Mar 18, 2009

    I am so sorry for you. My company negotiates with lenders to modify loans. I have a client now that submitted paperwork to Wilshire in hopes of them adhereing to the new Obama legislation that passed on March 4, 2009 called "Afforadable home modification program". Well, they modified the loan but not under the guideline because they state thy don't have to because they are not servicing a freddie mac or fannie, ae loan- This loan was originally a Fremont Investment loan and Wilshire took over their servicing I think in 2007- so it is a subprime loan BUT I know that Merrill Lynch bought them (Wilshire) in 2004 and then Bank of America took them over January 2009 and according to the treasury, anyone who received TARP funds needs to adhere to the new program- so I wonder if this makes Wilshire liable to play ball just because they are a subsidiary???

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  • Kt
    KTKat Mar 30, 2009

    I was just wondering how you went about even getting approved for a modification from wilshire and what the terms were because we have tried to get one for quite sometime and just getting the runaround. Is there anyone we need to talk to impaticular to get somewhere with these people. I know we were thinking about trying to do the Obama legislation modification. I'm just interested in what they offered your client Cindy. Thank you so much!!

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Wilshire Credit CorporationUnauthorized charges

Wilshire Credit Corporation did a forced placed hazard insurance on our account. We provided documentation to the lender that we have had insurance since the date of purchase thru the home owners association. Their insurance company said they were charging us 799.94 dollars a year however according to the monthly statements they were charging us 230.89 a month. pulling 27.61 from the escrow account putting the escrow account into the negative 1, 800.00.

I was told from their insurance company that once they verified insurance from the home owners association they would credit our account. The funds were never credited back to our escrow account and as a result of the funds never being credited back to our escrow account, they raised the escrow from 605.00 a year to 805.00 that is a 200.00 dollar increase. The property value has not gone up. In fact from 2006 to 2008 the property value dropped from 113, 000 to 105, 000.

I contacted the county tax assessor and they sent me a copy of the real property valuation and it does not justify the reason for the 200.00 increase for the escrow and as orginally stated on the loan we pay our insurance directly to HOA which also includes the payment for the water, trash and lawn. I sent a certified letter to the Loan Servicing agent asking for an explanation on the lack of funds in my escrow account and a reason for 200.00 increase on my escrow account when the value of the property has not gone up and our hazard insurance is paid thru HOA.

My mortgage payments have never been behind just late and we do owe late charges which is 30.00 after the 10 of every month. Every month I am becoming more and more delinquent with this account. They have added a 445.64 suspense account and 306.00 as other when just last month the other was only 135.73 Wilshire Credit Corporation will not provide me a written statement for the continued increase in the suspense account or other account or what happened to the monthly funds that were to be applied to my escrow account.

When I call they charge me with missing payments but i have money orders for some, express mail signatures on others and withdrawals from my checking account. If they were totally on the up an up I would have written reasons coming from someone but no one wants to provide the reasons for these charges in writing.

  • Su
    Susan Sevigny Feb 02, 2015

    I have also been destroyed by Wilshire by given false information. When I was trying to remove my ex from the mortgage, they informed me that I had to do a forebearance. Then they had me modify my loan but my ex was still on my mortgage. I then noticed that my mortgage increased by $10, 000. When I asked about it thru letters, faxes etc they never responded. Instead they transfered my mortgage. My mortgage has now been transfered 5 times to all the companies being sued. Nobody is helping me to get involved in these lawsuits & now I'm losing v my house

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Wilshire Credit CorporationScam

My situation is a mess courtesy of Wilshire Credit Corp. I have two mortgage companies. In late June 2008, the short sell process was started. In late September, an offer was made on the home. The home was close but not yet in foreclosure. No one was notified of the foreclosure date set for mid-October. All the information needed was faxed over to Wilshire, 3 times with confirmations in hand before the foreclosure date.

Last week the second mortgage company calls me requesting to resend information to complete the short sell for close. This week the second mortgage company sends me information about short sells and the monthly bill. Wilshire did not notify the second mortgage company or me, the home owner, or the Realtor who was handling the entire procedure. We found out because the Realtor called to check the status of the short sale approval.

What makes the situation worse is that Wilshire stands to lose only $200 on the short sell and yet would rather let the home foreclose. This is just bad business.

Wilshire Credit CorporationWhere is the customer service?

Here in Missouri we have experience 5 federally declared disasters. I have called Wilshire trying to make payment arrangements and I keep getting reminded that they are a loan service and not the actual loan holder. I keep getting no where. I finally had to hire an attorney and I still not sure if we will save our home. Wilshire is well trained in being the heartless don't give a crap company. I didn't choose them, they chose me because my mortgage was an ARM mortgage. Way to screw the American dream people. I am not asking for a hand out but apparently they just want to keep harassing me until I do things their way.

Wilshire Credit CorporationWilshire still ruining my life

My original mortgage / home loan was financed through Mortgage It Company in August of 2005 and shortly after, in October of 2005 was bought off by Wilshire Mortgage Credit Corporation.
I made numerous of calls to them trying to establish an Escrow account for my taxes to be incorporated into my mortgage payments. I work during a day, went to school on evenings and weekends and trying to get them on the phone was almost impossible - spending my breaks and launch hour(s) on the phone trying to get “alive” person. This tactic is used so they can wear you out. They know that most people don't have the time to stay on the phone during working hours. They conduct business only during regular business hours, when most people are at work and can't bother them. After repeated phones calls thru the most frustrating system I have ever used, the representative requested that I mail/fax them requested paperwork in order to set up that escrow account. I faxed it and I had a conformation that fax went through and was received. Couple weeks later, I called to inquire how long will it take for them to process it, and I was informed that they don’t have my paperwork and I was told that they are humans too, and the paperwork do get lost sometimes - and - they asked me to submit it again. I decided to go ahead and try again. This time I fax the paperwork and with a copy of conformation page I decided to mail those copies of the same paperwork with certified delivery confirmation. Again, I waited couple of weeks and called them to inquire how long it is going to take to process it - as the tax collectors already started calling me and started sending me vicious letters. After so many attempts to get someone on the phone again I was told - again - that they do not have my paperwork (???). They asked me to submit again (?) I decided not to.
The mortgage with them had two loans - 1st mortgage with adjustable rate going from some 6-7% to 10-11% in such a short period of time and 2nd mortgage with fixed rate of 10.99%. I had no late payments, no missed payments even dough that payments were killing me and there was not enough money left for my property taxes that were falling behind and barely any money left for life necessities. Having a comfortable income from my full time employment, and regular child support payments, and a part time job – wasn’t enough - leaving no time for anything else. Not only those payments were killing me, but they were now exterminating my household – my life!
In November of 2007 I called Wilshire and asked them to refinance me into a fixed mortgage rate home loan with escrow account set up. They told me to they do not refinance existing loans with them and asked me to file for forbearance with them due to hardship. I refused. I felt like they want me to loose my house. I felt they want me to fall behind the payments and owe them more money. I felt they are promoting foreclosures rather than helping their customers seek any option available in order to keep the roof over their heads. My son’s 13th birthday was approaching in mid November and I was devastated!! I couldn’t afford any gifts for him and I couldn’t possibly explain to him that all my hard work and major lack of time and neglect of him was for nothing - we were going to loose our home! I was on the edge of a nervous break down. I couldn’t sleep, I couldn’t eat, and I couldn’t concentrate or think straight.

I understand now that their investors are so greedy that they would rather see their investments vacant and not selling / refinancing than working with their customers. These games that Wilshire plays with people are simply sickening and should be - if not - illegal!!
So, I did my best and made my payments until December of 2007, while working with local mortgage brokers to help me refinance through other financial institution. I called Wilshire day before Christmas and remind them that I am looking into refinancing my home and the last payments from me will conclude for that current month - December of 2007. I also told them that as of January of 2008 they should be paid off in full (my prognosis for refinancing was looking very good) but if something goes wrong and I do not get refinanced – no payments will be send for January. I already planed to move out by end of January of 2008 and told them they can go ahead do what they need to do after that.

Miracle happened on January the 3rd of 2008. I was refinanced through Countrywide Homeloans FHA program and they paid off Wilshire on January the 8th of 2008!!
One of the best things ever happened to me! I was so happy! One mortgage payment, escrow account set up with taxes and insurance all included – and - almost $279/month less than both mortgages with Wilshire.

I was also very happy that I no longer have to deal with Wilshire unprofessional, misleading, lying, frustrating, rude, brainless, lazy, untrained, ignorant and careless employees.
I closed that chapter in my life – or so I thought - until yesterday! - !
Recently, I was offered by Countrywide Homelaons program Cash-out option for home improvement; new windows, doors, remodel bathrooms, etc. This approval is under the process and in addition to submitting all requested paperwork, I paid $349 processing fee for it.
I had a phone call yesterday evening from one of their underwriters, Mr. Jeff who informed me that Wilshire reported 30 days late payment for December of 2007. I was shocked!! I explained that I am totally unaware of that; this information is news to me as I made sure that all the payments were updated before I went into refinancing with Countrywide. I also told Mr. Jeff that I refinanced my car in March of 2008 through my employee Federal Credit Union and that wasn’t showing on my credit report as I am sure that would present a problem, an obstacle and I would be informed about it by loan officer from Credit Union. Mr. Jeff advised me to call Wilshire and to try to straighten this out. I told him that will be impossible, but I will try.
I started my ‘home-work’ this morning at 7:30 am. I was trying to get in touch with Wilshire once again. I also used Internet; research their web site and some additional web sites indicating anything in connection with Wilshire just to find out about the /link removed/ and http://www.complaintsboard.com/complaints/wilshire-credit-c76781.html - what a site(s)!!! Finally, at 9:50 am I was able to get a representative on the phone, who once again proof to me how unprofessional, misleading, lying, frustrating, rude, brainless, lazy, untrained, ignorant and careless Wilshire employees are. After ‘updating’ my account information with them (???), which no longer exist anyway, I explained to representative that reason for my call was to inquire about inaccurate information on my credit report provided by Wilshire and that I would like to dispute their ‘30 days late’ reporting currently showing on my credit report. He informed me that ‘their notes’ (entered by their employee) show that I called them and informed them on December the 24th that I will not be making a payments for December??? Knowing who I am dealing with - I calmly tried to explain to him that information makes no sense and that must be a mistake - that December of 2007 payments were made, and when I called them day before Christmas I informed them that I will not be making any payments for January of 2008 as my refinancing was coming through and they will be receiving a full pay off amount. I also recalled that I told their representative that if, for any reason refinancing doesn’t come through, I will be moving out by end of January of 2008 and they can go ahead and do what they need to do. The representative continued talking over me, called me immature (?) and that bottom line is - what their notes are saying is immaterial and irrelevant - still insisting that I was late with December of 2007 payment. I still tried to explain to him that payment was made, the check was mailed to them timely and they should check their records for the check date or simply by verifying it by the post date mark on the envelope of the payment. He told me they do not do that. I was stunned! I told him about my prior experience with Wilshire; loosing my (confirmed) faxes and (certified) mailings in the past and that I wouldn’t be surprised if they misplaced or sit on the check for days. I stated that it is not my fault if Wilshire was holding the payment once received or they must simply have an inefficient process for cashing checks. I also reminded him that refinancing came through January the 3rd and that Countrywide paid them off on January the 8th. In addition, I reminded him that received prorated / partial reimbursements from Wilshire for the payments that were made in meantime. I asked him how I can possibly be reimbursed the money if they were not overpaid or better yet, prepaid. He told me that means absolutely nothing, my payment was late and he will not change the information in their system. We went back and forth, back and forth. It was obvious to me that I was running into walls again with Wilshire. On the end, I had to terminate this phone conversation with the promise that I will sue. Deep down, I know that makes no difference to them.
Wilshire is not willing to work with people despite their massive errors and resulting situations. They are defrauding homeowners, running their credit, their hopes, dreams, livelihood, etc. They put thousands of families with children and senior citizens out on the streets without loosing any sleep over it. How does this company get away with doing business the way they do; with lies and wrongdoing and with so many complaints? I wish I can afford a lawyer!! I would take them al the way to the Supreme Court!

  • Ma
    Masha Aug 19, 2008
    This comment was posted by
    a verified customer
    Verified customer

    totaly agree. good luck winning that battle.

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  • Zt
    ztect Dec 17, 2009

    The Neighborhood Assistance Corp Of America (NACA) submitted my package asking Wilshire to resturture because I had an adjustable rate mortgage. The information was submitte OCT 10, 2009 I received a letter from Wilshire dated Novermber 18th stating they received the information and will make a decision within 10 days I have yet to receive a response. NACA has not received a response. I wander if they really want to help.
    I have a heart condition and may have to retire because I am unable to work some days.. Somthing need to be done.

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  • Zt
    ztect Dec 17, 2009

    wilshire is not trying to help people stay in there homes they would rather see you on the streets

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  • Da
    Dan Novik Mar 22, 2010

    I couldn't have written it better myself. F--KING RAPISTS!!! I've been going through a Loan Modification with them for 15 months and during this time I have "Inherited" over $5, 000 in late fees, and interest and for some DOUCHEBAG to come out every three months to see if my property in maintained at a cost of $200. Even though I could've paid the 2 months I was behind, I was told by the WONDERFUL ASSF--KS from Wilshire Not to pay it because I was in the Loan Modification Program and it would ruin everything. ALL I have to say is F--K ME for trusting them!!!

    0 Votes

Wilshire Credit CorporationInappropriate Late Fee Charges

Wilshire frequently charges late fees for mortgage payments, though the delivery date of the payment is well before the 'grace period' due date. For the last 3 mos. I have been charged $16 late fee per month for sending payment late. However, this can be disputed by the fact that I send my payment through my online bank (BOA) who guarantees delivery date selected when making the payment. In one example, my bank cut the check on 5/2 and verified delivery on 5/7. Wilshire didn't cash the check until 5/13 - 2 days after the FINAL due date of 5/11.

When I contacted Wilshire they claimed the US Post Office must have taken over 6 days to deliver (from AZ to CA - right) the check. I asked them if they could verify by the post date mark on the envelope of the payment. I was told they do not consider the post mark a valid date - clearly there is a diabolic scheme here. If they are blaming the US Post for taking too long, then why not use the post date as a reference, I mean it is a federal document (the US date stamp anyway).

Meanwhile, I have been advised by Wilshire that it can take 5 to 10 business days for the US Post to send my payment from AZ to CA. This is ridiculous and clearly a loop hole for Wilshire to drain it's consumers in late fees. When I discussed this with my online banking co., they advised Wilshire must be holding the payment once received or they have a inefficient process for cashing checks (clearly it's not the latter, who doesn't want to cash $).

Over the years, I have noticed this seems to happen periodically each year and several months in a row. I'm not sure if they are trying to find ways to tap for add'l money or use it as a tactic to elicit payment before the grace period begins but it's shady and a bad way to do business.

In the end, I will pay the late fees and will have to await the months when Wilshire decides to hold payment and charge me extra. Please note, I have verified thru my banking co, payments have been delivered on the 7th of each month numerous times and somehow Wilshire cashed the checks on the 8th (wow the US Post works sometimes!!!).

  • Ca
    cathleen moffett Mar 13, 2010

    my loan was sold to wilshire in 05. since that time my loan increased over 200.00 per mo. i had a loss of income due to a back surgery in 08 and fell 2 mo. behind. was assured that tpp was the answer and would have a permanent modification if i met the scheduled payment dates. i did this and received a letter of congrats. they didn't follow thru with the permanent payment plan. they offered another tpp.and wanted to pay my homeowners ins. i never sent a signed agreement back but they did send a check to my homeowners ins. co. which i had sent back to wilshire. they (wilshire) cashed that check but never credited the money back to my escrow account. they sold my loan to another "debt collecting" loan co. and now i am fighting both companies. beware!

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Wilshire Credit CorporationTRYING TO PUT ME IN FORECLOSURE

I BOUGHT MY HOME IN FEB.2017 WITHIN 4 MONTHS OF OWNING THE HOME MY MORG WAS BOUGHT OUT BY WILSHIRE CREDIT CORP. IN JUNE OF 2017 I WAS DIAGONOSED WITH CANCER.I CALLED WILSHIRE TO MAKE PAYMENT ARRANGEMENTS I WAS TOLD I WAS NOT BEHIND AS OF YET SO THERE WAS NOTHING THEY COULD AT THAT TIME.I CONTACTED THEM AGAIN IN JULY 2017 WITH MY PAYMENTS NOW 2 MONTHS BEHIND AND OFFERD THEM $1000.00 BIWEEKLY UNTIL I WAS CAUGHT UP I WAS TOLD NO .THEY NEEDED THE PAYMENT IN FULL.DEC 2017 I HAD MAJOR SURGERY WITH COMPLICATIONS AND DID NOT RETURN TO WORK UNTIL FEB 2017.I AGAIN CONTACTED THEM AND ASKED TO MAKE THE SAME PAYMENT ARRANGEMENT AND TOLD NO.SO IN JULY 2017 I CONTACTED FRESH START MORTGAGE ASSISTANCE AND THEY TRIED FOR 6 MONTHS TO NEGOTIATE WITHWILSHIRE ON MY BEHALF .BUT WILSHIRE KEPT LOSING FAXES, NOT RETURNING CALLS.BY THEN I WAS $18, 000.OO IN THE HOLE WHEN I STARTED ORIGINALLY FOR HELP I WAS $4, 000.00.SO THEN I A CASH BUYER TO DO A SHORT SALE EVERYTHING ON MY PART THROUGH ME, MY REALTOR AND MY INVESTOR WAS DONE AND COMPLETED IN 2 WEEKS.EVERY TIME MY REALATOR OR I WOULD CALL THE LOAN OFFICER SHE NEVER RETURNED PHONE CALLS.4 MONTHS LATER I GET A LETTER IN THE MAIL STAING SHORT SALE DENIED WITHOUT EXPLANTATION.I JUST WENT TO COURT MAY 27 2017 AND THE JUDGE IS GIVING ME UNTIL JULY 15 2017 TO WORK SOMETHING OUT WITH WILSHIRE. I AM AFRAID I WILL LOSE MY HOME.BECAUSE WILSHIRE HAS SHOWN NO INTREST IN HELPING OVER THE LAST YEAR WHY WOULD THEY START NOW.PLEASE HELP! THIS COMPANY AND THE PEOPLE ARE ONLY IN IT FOR THEMSELVES.THE PHONE # SHOULD NOT BE CALLED CUSTOMER SERVICE IT SHOULD CALLED WILSHIRE WE F--- YOU SERVICE.I'VE HAD SO MANY OTHER PROBLEMS WITH THIS COMPANY ALSO WITH MY PROPERTY TAXES AND MY HOME OWNERS INSURANCE NOT BEING PAID AND LOSING THE THE PAPER WORK AND FAXES.PLEASE HELP AGAIN.ALL CONSUMERS WITH WILSHIRE NEED HELP FROM THIS COMPANY AND ANY OTHERS LIKE IT. LETS FIRST START WITH THE MAIN ONE " WILSHIRE CREDIT CORP.!!!"
THANKS, LINDA & JOHNNY

  • Valerie May 02, 2008

    I have the same problem with Wilshire credit mortgage I fell behind on my payments and for 6 months I called them told them what was going on no help went to had no help so they foreclosed on me in Jan hired lawyer in Jan still no help so Wilshire caused me to lose my home because all I wanted them to do iis lower my payments and they wouldn’t so now in July I might be homeless because I have no one to help me no one now I got a better paying job but now I’m trying to play catch up, and the lawyer that I gave 1775.00 to wont answer my calls her in much I’m doomed The best to any one who deals with Wilshire

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  • Valerie Jun 09, 2008

    Everyone reading these reviews against Wilshire Credit Please also go to /link removed/ and also see many, many other people who have had it with this company. You can also see good additional information and see this company for what they really are.

    Between this excellent site and the other mentioned above maybe we can get something done. This company is defrauding homeowners and it has to stop!!!

    United we stand and there are enough of us that we should be able to do something. Someone please do a web posting for signatures to help all of us.

    Wilshire employees - You know what is going on. You cannot work there and not what this company is doing. You can stay there and continue to be a partner in crime or else help all of us.

    When you unknowingly do wrong your are innocent.

    When you knowingly do wrong and keep on doing it you are as guilty as who you are doing it for!!

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  • Re
    Realty Mediation Services Jun 17, 2008
    This comment was posted by
    a verified customer
    Verified customer

    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 888-453-1518 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.

    0 Votes
  • Valerie Jun 19, 2008

    First, Wilshire Credit Corp refinanced my 82-year-old grandmother's home for a price she clearly could not afford on her fixed social security income. Then they started to foreclose her property because she couldn't afford it.

    They let us (the family) work with them to resolve this, but right when we collected the big chunk of money they asked for to stop the foreclosure (well before the deadline by the way), the loan officer stopped contacting us and wouldn't reply to our calls, faxes or e-mails. Everybody at the company would direct us to the loan guy.

    After a couple of weeks of this, Grandma received a foreclosure letter and eviction notice with a lawyer's name on it. We contact Mr Lawyer. Turns out the loan officer didn't work there anymore, dropped the ball and screwed my grandmother out of her home. Neither the loan officer nor any other rep at Wilshire bothered to tell us that the loan officer was leaving. Furthermore, Wilshire was not willing to work with us anymore despite their Massive error and resulting situation.

    They wont' take our calls anymore - giving us the run-around. They didn't care that they messed up and are proceeding with the eviction. That is beyond wrong. Too bad we can't afford a lawyer.

    0 Votes
  • Ge
    GERALD CROSIER Jul 01, 2008
    This comment was posted by
    a verified customer
    Verified customer

    THEY RIPPED ME OFF TO I LIVE LOUISVILLE KY THEY TOLD ME THEY WERE DUEING A LOAN MOD AND FOR ME AND PUT ME IN FORCLOSURE AFTER BILL MITCHELL ASURED ME EVERY THING WAS FINE 3 WEEKDS BEFORE ILL SIGHN WHAT EVER AGAINST THESE FOOLS I HAVE 5 KIDS AND NO HOME SOON

    0 Votes
  • Re
    Realty Mediation Services Jul 08, 2008
    This comment was posted by
    a verified customer
    Verified customer

    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 888-453-1518 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.

    0 Votes
  • Valerie Jul 18, 2008

    I am so unhappy and very pissed I tried to purchase a property which they owned and I did everything I was supposed to do all inspections paid for my appraisal and I lost all that money because I had to cancel the transaction I waited more than 3 moths for them to finally sign that they would fix some problems with the location and then they signed but would not fix the problems and then they sat on it again I am low income and cannot afford these losses they are a scam plan and simply. I feel defrauded.

    0 Votes
  • Co
    connie Apr 21, 2009

    Hey, you might want to check your facts. It makes you look less creditable. Firstly, Wilshire doesn't refinance loans as they are just a servicer, not a bank or lender. What they can do, however, is a temporary modification of the loan for up to 5 years. The thing with that is they LOWER interest rates, not increase it, so its impossible the modification caused the loan to be unaffordable. Secondly, since wilshire is a servicer and not a lender or bank as previously stated, they DONT want your mom's house or anyone elses. Right now houses are severely underwater, how would they benefit by taking on the expenses of keeping up the house AND listing/selling it, especially since houses now are selling for less than they're worth? Wilshire doesn't forclose on properties unless they are at LEAST 90 days past due. and then they usually STILL wait a while. Loan officers aren't assigned to a loan unless its undergoing modification, so it sounds to me like she thought she was safe (even though she's told collection attempts can and will continue during modification approval) and didn't make any payments. Unfortunately it sounds like your grandmother didn't understand the loan she signed up for with the lender (who is NOT wilshire) and since wilshire just takes care of the loan, they're getting the brunt of your anger.

    0 Votes

Wilshire Credit CorporationBeware

Anyone who has Wilshire as your mortgage servicer. BEWARE if they want you to sign a forbearance agreement as they are now starting to do to people. If you sign, they own you. Have your attorney read these papers. Papers are full of wording where you are still "screwed" and if you sign these papers they state that you withdraw any and all claims, lawsuits, either past, ongoing, or future Wilshire Credit, predecessors, successors, affiliates, officers, directors, employees, subsidiaries and parent companies and agree not to sue. This is done in order for your temporary modification to go through that will allow you top stay in your home for a few months only. This is only a short term modification. After a couple of months another agreement is to be worked out. These papers also will not allow you to protest any and/or all of the legal fees associated with Wilshire and these fees were initiated by Wilshire!! These papers are full of BS. This contains information that was stated was agreed upon by both parties BUT since I did not agree to this.

Please anyone who enters into an agreement with Wilshire do not sign these papers unless your attorney looks at these papers. You will end up losing your home regardless. Also, in my opinion the amount that will have been paid to Wilshire (for the few months and the down payment) comes to about what the 2008 taxes are on our home. I think they are now working for modifications due to the upcoming tax time so they will have enough money to pay taxes on your home without Merrill Lynch having to take from their own investors pockets.

I hope Merrill Lynch, and Wilshire Credit employees can sleep at night knowing how many people they have put out into the streets and how many homeless senior citizens there are now due to their

lies and wrongdoings. None of us homeowners wanted this nor did we ask for it nor did we sign for this. What happened what greedy companies like Merrill Lynch and Wilshire Credit and Capital Investments and Deutsche Bank saw a way to fill their pockets until their "cup runneth over" of which they have. They have taken people's dreams, hopes, livelihood (not only adults but also children) and have made it into "horror stories" just big corporation get rich quick schemes. Someday a good investigative journalist and will come along and expose these corporations/companies for what they really are and what they have really done and how rich these companies and corporations have gotten off the hard working average guy and the senior citizens. Just follow the paper trail and it leads you to people and places that I would have never thought or dreamed possible.

PLEASE DO NOT SIGN ANY PAPERS INITIATED BY WILSHIRE CREDIT OR THEIR ATTORNEY'S OR MERRILL LYNCH OR THEIR ATTORNEYS OR DEUTSCHE BANK OR THEIR ATTORNEYS.

Please take them to your attorney.

  • Valerie May 03, 2008

    I made the mistake of financing with Wilshire mortgage, and I REGRET IT! Whenever I contact them, it takes too long to get an answer. It’s as though they are trying to wear you out. Also they know that most people don't have the time to stay on the phone during working hours, so they stall and drag their feet to get an answer. They also only conduct business during regular business hours, when most people are at work and can't bother them. Then if you are able to prove that the mistake is theirs, it will come back again in a month or two. They have instilled their insurance every year, for the past few years, without checking with my insurance company. If you use their website to make payments, they still charge you a transaction fee. Even though every company on earth uses the internet and other electronic methods of communicating, they are stuck in the 1980's. FRIENDS DON'T LET FRIENDS USE WILSHIRE MORTGAGE.

    0 Votes
  • Valerie May 23, 2008

    http://wilshirecreditcorporationmerrilllynch.blogspot.com/

    You will find a useful link on there that will point you in the right direction-the truthful one that explains on a short PowerPoint, without too much detail-so that they do not give their squeezing blood from a rock business operational model and trade secrets away (but you get the hint). You get a taste of who they are and what their priorities are. You, the mortgage owner, are not the client. The investors of these mortgage backed securities are. It is true that Wilshire can modify and short sale loans. They can and that information is a couple of clicks away from the public listed website above. Happy reading and I hope that you learn something useful for us all. Who will be the winners and losers of these loans-us, the taxpayers, FHA or the investment companies?

    0 Votes
  • Cl
    cliff a. cruz Jun 06, 2008
    This comment was posted by
    a verified customer
    Verified customer

    wilshire bought my loan for .50 on the dollar and has refused to work with me, even after i was going to give them .75 on the dollar to drop my loan down so i could re fi out, im caught in that ajustable mess, and they have a program for people in this mess, they treat you like a game show host, they would like to help you but they can"t they are the biggest rip off, looking for a class action or an attorney that would take this case, all inall there the ones that caused this mess that everbodys in, if you in this to please contact me.

    0 Votes
  • Ri
    Rita Jun 19, 2008
    This comment was posted by
    a verified customer
    Verified customer

    We had a house fire in june of last year. we owed Wilshire 55ooo.oo on our home. our insurense paid us alittle over 50, 000 to fix our house. so we decided to put the money toward the payoff sense we were almost in forcloser when we had the fire. They took the money and told us we still owed them 7500. we were to make payments of 775 a month for 10 month which make the payoff this month. now they say we owe them over 4000. more and we dont get a mothly statement. so we dont what kind of charges they are putting on our morgage

    0 Votes

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