Wilshire Credit
Reviews and Complaints
www.wcc.ml.com
Anonymous
Vancouver, Washington
Wilshire is not the one you signed the loan with
I can not believe how people tend to blame the bank or mortgage servicer for them losing their homes when it is their own fault. You signed a contract and knew what you were signing and if not that is *** because you did not want to take the time to read before signing. Wilshire is a loan servicer, not the lender you signed the loan note with.Sometimes circumstances change but if you bought a car and had a loan on that and did not make the payments, would not that car be repossessed? Not any different than a home loan, if you do not pay then you could lose the home. It is not Wilshire's fault,and many consumers think that they should not have to pay their mortgage and keep their home also.
5 comments
losttrucking
Miami, Florida
Its impossible to get willshire credit on the phone
i recently lost my home to willshire credit corp. in portland, or. they are impossible to get on the phone they say they want to work with you and then you cant get them on the phone to see what they can do. they also held up a subdivision i did with my land at that home and caused me to lose a contract on the land i subdivided. if they would have cooperated with me then i would not have lost my home and would have been able to keep my credit up in good standings with all that i had when i lost my business. this economy thing goin on and all the help we are suppose to be getting i dont know where all the help is, cause i havent found any yet at all i dont know if this will get the right people or if it gets read at all so im goin to stop right here and see what happens from here sincerely charles merson, jr laurel, de
Loss:
$240
3 comments
Jayleen C Kmf
American Fork, Utah
Victim of Wilshire
I recently discovered Wilshire reported to the credit bureau I owe them in excess of $24k. I have never received a single phone call from them or letter indicating as such! I too had a rep from wilshire call me shortly after moving into my home. She advised me my payments had been insufficient to cover to property tax liability. She went on to state I would need to come up with the $700 for the shortage of property taxes and my house payment would increase more than $200. Being recently divorced I was doing my best to afford my home. But Wilshires tactics cost me my home. I would like to participate in class action law suit, I know all complainants do not need to reside in the same state. I can't believe they have been getting away with this. I have no idea what the alleged monies are for and never did I receive notification from Wilshire. I was required to have mortgage insurance which paid the mortgage off when I had to default. The monies Wilshire claims I owe are "Undefined"!!!!
5 comments
Anonymous
Irvine, California
WILSHIRE CREDIT - MODIFICATION?
I began working with Wilshire last year - July 2008 and went up to October 2008. After calling back every week to be on hold and not receive any type of an answer. The last call basically told me there was nothing they could do, the person I spoke with could not speak clear and I could not tell if it was male or female on the other end. November 2008 I start working with a third party negotiator, I am not sure if I can list them here or not. December taxes were due and paid. This was a way for Wilshire to delay a response after multiple calls going into January and February, Wilshire stated that they need to check with our county to make sure payments were made. Throughout this time, I had been making payments and there has been no type of a response from Wilshire. March 2009 comes along, I decide to not make a payment and I notify my negotiator of this. Negotiator calls many times to find out what is going on and is told that Wilshire is reassigning it to another negotiator. Nearly 3 weeks go by and this is the same answer that my negotiator receives. April 2009 - no intentions of making payment this month and after about a week into the month an answer is given to my negotiator. The answer is an agreement has been sent. What I received is a forbearnce agreement, I am not happy with the agreement and have been on the phone with them the past few days, not the negotiator.
2 comments
wolfrekab
Manassas, Virginia
Unjust fees and credit reporting fraud
Wilshire accepted pay online for a payment last July, they indicated in August to me that the loan was in default, because they never received payment. When I discussed with them they indicated that they had indeed received payment, but the account number was 1 digit off. Realizing this they still insisted on their late fee and document 30 days late to all credit bureaus. Conviently, this happened after I indicated that I was refianancing and taking my business elsewhere. What better way to keep a customer, than monkey up their Perfect credit on their mortgage. I still refinanced, but they still have 1 late pay on my recorde. I reported to credit bureaus and all they did was ask Wilshire, who refused to change their report. They are dishonest and use poor tactics to keep customer. If there is law suit, please include me
Loss:
$2000
1 comment
notdeadyet S
Athens, Georgia
Complaint-- I would like to join the lawsuit but I live in Georgia, can I do this!!!! Please!
I would like to join the class action lawsuit against Wilshire Credit. Can I do this, I live in Georgia? I was foreclosed on by this company and was never late with my payments. They did some really shaded things with my mortgage, tried to raise my interrest rate because I found them after reading my mortgage papers further into the paper work that was not on the closing papers. They would not talk to me about them. They said that they are looking out for their investors and that they could not refinance or change anything that had been done.. this mortgage was originally done by Ameriquest & bought out by Wilshire 2 monthes after signing in May of 2005. I would have to abide by all the terms set by the contract. There are alot of details that are fraudulantin the paper work.
Loss:
$289
3 comments
Anonymous
Athens, Georgia
Foreclosed on my house
Wilshire foreclosed on my house. I was at the time payed up to date but they were raising my payments again and the amount was getting out hand where I could not keep up with the payments. I asked for help, but they would not work with me, even though I was never late. After looking at my mortgage papers I found that they put my mothers income from our joint checking account into my income so that the mortgage would go through. My mother was not on the deed nor on any utilities.. The only reason we had a joint account was that she was very sick and needed me to sign papers for her and pay her bills. I told this to them but they said tough luck. My mother died in 2007 and her income was no longer available so my income decreased and I figured to sell. Wilshire would not work with short sell, deed in leiu of foreclosure, lower my payments. The realtor said that I should send this information to the attorney generals office which I did but because Wilshire doesn't have enough mortgages in Georgia they said they couldn't do anything... they sent it to the FBI in washington ... I am waiting to here from them... I would like to join any class action suits that I am legally aloud to. Wilshire needs to be stoppped!!!!!
sharonr R
Cicero, Illinois
Refused to lower our interest rate on our current mortgage.
When my husband and I refinanced our home a couple of years ago, our Mortgage was sold four times to four different companies. Unfortunately, Wilshire is who we wound up with. For thee and a half months I tried to get them to just lower the interest rate on our loan. We have never, ever been late. They told us that even though our account was up to date and we were never late what we provided them on paper said we could not afford to make the payments. Now tell me that makes sense. They even suggested that we well our home and buy something smaller. In this economy are they NUTS!!!! I would never, ever, recommend Wilshire to anyone.
2 comments
HateWilshireCredit
Philadelphia, Pennsylvania
PA. Class Action Lawsuit Against Wilshire Credit Corporate
Does anyone wan to Join in a Pennsylvania class action law suit against "Wilshire Credit Corporation" - Rip off mortgage company? How can our goverment stand by and let this happen? Was told today: The (-) sign in front of a number is not a credit. If Wilshire did not post my payment in a timely manner, according to it clearing the bank, then "I" need to submit the front / back copy of check. WAIT for them to determine if they need to offer credit. WAIT for the credit to clear. SUBMIT A WRITTEN LETTER of REQUEST, that they rectify my credit report. COULD take up to 3 months to complete????? THEY HAVE CHARGED me late every other month!!! ( I saw the - thought credit - NOT) Next: my principle is only reduced every other month! Even though I am paying over the amount of the payment due? Wher is our goverment? If this was a hospital, school, non0profit organization or a church, or a priate consumer, we'd be arrested for tax evasion, money laundering, etc...But our financial institutions are destoryingour credit even if we are responsible in making our payments! Again: Where si our consumver protection? Where is the lending institution regulation agencies? If we make good on our payments, then make the financial institutions make good on our credit.
67 comments
October Tqp
Sacramento, California
Intimidating & Rude, Customer Svc Rep
Last week my daughter (Carol C Low) called needing information. Her first question was to be about "payoff figure". A man answered the phone, but before she could ask him anything, he began screeming at her, telling her that she was late on her house payment. She was not able to ask him anything. He was so rude to her, she was so upset that she was crying when she hung-up. We are trying to help her with her loan, and need more information. We read on the Wilshire web page "understanding your payemnt options" FAQ Financial Hardship, she could request a modification to modificationto her loan.
Loss:
$75000
Anonymous
Masontown, West Virginia
These people flat lied to us
We did fall behind a couple payments and were trying to make the payments up but they kept returning them.Instead they said they would tag the late payments on the end of the mortgage and rework our loan into a lower payment.This went on for months and we would call and they would tell us not to worry everything was fine and they were going to help us.They tried to help us out of our house,Someone told me they seen our house in the paper for sheriff auction(that was embarrassing)so I called them and they said that was standard.A few weeks later I received a forbearance paper and they wanted me to sign in agreement to raise my payment $400.00 a month for 3 months and then they would review it.Also we waive the right to sue them(there's a red flag)I felt I had no other choice but to file chapter 13,Which I did.This stopped all activity , late fees and interest on the mortgage.It also worked out OK because I owed $10.000.00 on a jeep that was worth $6.000,00 and that is all they get Wilshire gets what the bankruptcy court sets up.Its a small victory but it feels good to stick it back a little.At any rate it was better than loosing my home to these bastards.
2 comments
cclparrott
Birmingham, Alabama
Crooks - Charge Bogus Late Charges!
Wilshire charges late fees on checks they sit on. I have two loans with them..one will post and the higher) one will not. I send them the same day..they claim the post office is to blame, but refuse to let me send them together in the same envelop. I've had to revert to Fed-Ex and delivery confirmation expense to stop them...after paying the bogus late fees. These people need to be investigated...seriously!!! The government needs to get involved. i also believe it should be illegal for a mere "loan servicing" company to buy mortgage loans. I had no idea these people were NOT a mortgage company UNTIL I really needed a mortgage company to negotiate a refinance. These people can't make loans...they say they are a "collection agency" only...what a ripoff, but explains their nasty attitudes! This should be illegal. They have no interest in helping you...they are greedy and only make MORE money when they collect late fees!!!! they are blood-suckers and should be stopped!!!!
Loss:
$60
iceymike
Encinitas, California
Wilshire not willing to modify loan
We have been paying on time for 3 years & because of my job (commission sales) & the housing crisis in California, we need to modify our loan. Wilshire actually said that they would rather wait for 90 days of receiving no payments before starting the process in working something out & they even went as far as suggesting foreclosure as an option or selling the house on my own! Sell in this economy!!! are you freaking kidding me!!! I would rather foreclose than allow them the satisfaction of a short-sell. So let me see if I get this straight, this over 700 billion bailout wasn't intended for average Joe Citizen who needs a modification, rather it is intended for lenders who set this all up. I'm so pissed I want to scream!!!!!!
10 comments
treesearcher
Cerritos, California
Threatened to reposess truck when payment was lost in mail
Mailed in a postal money order three days before payment was due. Had proof of money order and mailing. They said they never received the payment and were threatening to reposess my truck after 14 days after the due date. Was current on my loan up to that point. Explained that the post office cannot accept a "money order inquiry" for lost items for 30 days after original purchase. They said it wasn't their fault and gave me 3 hours to come up with the money or they were going to take action. Said they would report me to the police for evading creditors if I "hid" my truck in my garage (its where I always park it) and said I would "have to go out sometime" Very rude and unprofessional on the phone - not willing to work with us or talk to the post office for verification, even though we faxed them all the correspondence from the post office with proof of mailing and payment. Cannot wait to pay them off and get them out of my life. Will never recommend them to anyone again and am filing a formal complaint with the BBB.
Loss:
$8
wamu
Salem, Oregon
How employee are hired
To all the Cutomers that write in, did it ever occure to you that the staff Wilshire hire are temp employee's. At least 99% cause the other 10% are not allowed to tell you the truth on what the company really does, like not report the mods that have been done to the investor's. Yes, the company does want every pennie from the customer the Hold button is gone so you never now if the employee hung up on the cusotmer or not! I can tell alot more want more? Still getting foreplace insurance when have insur and no refund?
1 comment
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they sent a apprassier who said my home was worth $115,000.00 dollars and when they forcosed because of balloon payments that i could not make they sold the home for 74,000 and the apprasier will not talk to me because i didnt hire him but said off records my home was only worth about 82000 but was told to appraise higher to get the loan sent through.
I was a mortage loan officer and I know who the **** I signed my loan with. I know the business.
My loan was sold to these blood sucking leaches, they are a servicer to Bank Of America! Which in case you didn't know your smart tail paid them out of trouble.
Before I leave this earth it will be my goal to sue and win and watch as they enjoy their new accomadations in a 3 by 5 cell and all have a new relationship forced on them the way we got &&&&! Believe it.
Wilshire is a mortgage servicer to many shady loan comapanies such as Fremont Investment & Loan. FDIC put stopped Fremont from working because they provided "doomed to fail" loans.
They recently settled for over $10 million because they know they are engaged in fraudulent transactions. Wilshire shares liability with the shady the originator. Your analogy is a poor example of what has occurred. If someone signs a fraudulent loan, the signee is NOT obligated to pay.
If fact, the signer is entitled to damages. That's is orginators and mortage service companies have done to Americans.
Wilshire is a coldheated, uncaring, no credibility lender. due to illness i had to go on medical disability and requested a loan mod due to an upcoming arm increase.
in april 2009 i received no help from wilshire so i retained the service of a 3rd party to mitigate on my behalf(i know there are scrams out there-but "lincoln national" is a very reputable corportation and "wilshire" is unwilling to work with them or myself-what am i to do????? wilshire informed me that my disabilty was not a guaranteed income so i was ineligibile-also stated my finacial obligations were to high for any help----this is why i am asking for help because my salary was reduced by 50%-were is the logic-this is what the obama plan is in force for--to help those in need. i am going to pursue this thru political avenues even if it takes me to the president himself. any ideas for what other action i can take.
my house mortage amount is $130,000- current bpos appraisal-$89,900.
i am not currently behind in my mortg payments-but my arm is adjusting in nov 09 at which time i will be unable to make payments. i have gotten nothing but the runaround from wilshire.....please HELP
You are absolutely right. I did not sign the loan with Wilshire.
I looked all through my paper work and cannot find any place that I signed with Wilshire. Perhaps the original lender or the investor(s) who bought my loan would act like humans and try to help people. Wilshire is the worst company I have ever dealt with. Just like everyone else says you do not answer the phone even when you leave a message.
I got a call from a loan modification person and they said for me to call them back. I did but when I was sent to the department I was told that he left a message on the computer and I could not talk to him. I also go the forbearance paperwork, without even knowing it was coming.
I told them to stick their forbearance and if they want my house come and get it. I paid $270,000 for my home and now it is worth about $80,000.