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I have my 1st & 2nd mortgage with Wilshire. I always make my 2nd pymt on time but have had trouble making the 1st on time because they increased me from 6.75% to 10.75% in the last 6 mos.

I started getting harrassing ph calls frm them if my 1st pymt wasn't there by the 1st! I've never been "late," yet they informed me they could call me at least twice because I have 2 loans with them. At the 1st of Feb., I spoke to their customer service regarding this issue and a cust svc. rep.

told me I could submit a request to their modification dept. to put my 1st mtg interest rate back to my original rate. They told me to go to their website to download the form to do this. When I go there to do this, there are no such forms or any way of contacting them via e-mail or online form!!

Now lets see if they honor this "modification" option when I get in touch with their cust svc via phone tomorrow.

Monetary Loss: $186.

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Just be happy that loan mods are done at all, 3-4 years ago they were almost unheard of and had to be approved by the CEO. As much as I hate Wilshire, they have devised an effective stategy to work with the new government mandates. And yes, it's strickly by mandate they do this, as a whole they were slow in implementation and had their hand forced for fear of lawsuits and for fear of retribution from S+P and other ratings that determine the types of loans they can service.

Edmonds, Washington, United States #10925

The hardship letter is just another stall technique by Wilshire. Get a Real Estate!


The only thing you can download is the financial statement. You fill it out, submit a Hardship letter with 2 bank statements, 2 recent pay stubs and wait.

I did this 1 month ago and haven't heard yet. I sure hope they mean it when they say you can get a loan modification, if not there are going to be alot of homeless people and wilshire is going to own alot of real estate. Our mortgage has jumped twice to over 800.00 a month more.

No can do. If they help people everyone wins.

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