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!!!!
Product or Service Mentioned: Wilshire Credit Loan.
Monetary Loss: $60.