RUSHMORE LOAN MANAGEMENT SERVICES LLC
Consumer Complaints
There are over 2172 complaints on file for RUSHMORE LOAN MANAGEMENT SERVICES LLC. Dated between 2019-12-11 and 2012-10-01.
Complaints Page 25
2018-09-20
Bda Flores, PR
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Account status incorrect
Complaint: at XX/XX/XXXX ... I made a request to Rushmore Loan Manage through it's representative XXXX XXXX XXXX to delete an executed second mortgage account from my credit report as charge off, because since XX/XX/XXXX, this property has been executed.
I made a successfully claim to XXXX XXXX Credit report company ... and they update correctly my information.
However, I made the same request to XXXX company, and the didn't want to proceed in accordance with my current situation.So any of this two companies don't report my situation accurate, despite I'd have bring to them all the legal documents that show the foreclosure of my old home.
XXXX confirmation request # is:XXXX I'll appreciate your assistance and intervention in this matter ... .thanks!
Company Response: Closed with explanation
2018-09-19
Hinsdale, IL
Trouble during payment process
Mortgage: Other type of mortgage
Company Response: Closed with explanation
2018-09-19
So Effingham, NH
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-09-18
Charleston, SC
Trouble during payment process
Mortgage: VA mortgage
Company Response: Closed with explanation
2018-09-18
Wilmington, DE
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: I set up a bill pay process with my bank, XXXX, XXXX, DE, in early XXXX to pay a mortgage payment on XX/XX/XXXX as the payment was due on XX/XX/XXXX.
I monitored the transactions on both online accounts, Rushmore Loan Management and XXXX. The withdrawal from the XXXX account appeared as expected. The payment to Rushmore did not appear on the XXXX nor has it appeared in my account to date XX/XX/2018.
As the bank payment didn't appear I decided to make an online payment on XX/XX/XXXX to avoid late fees and an impact on my credit score.
I called Rushmore customer service on the XXXX to ask how long it took for transactions to be posted and was told 3 to 4 business days. I also explained that I made an online payment in addition to the bank payment. The representative offered to cancel my online payment as the bank payment was expected. I accepted her offer and she was to cancel the online payment.
As of the XXXX the bank transaction has not been posted and the cancelation transaction has not been posted.
I no longer have confidence that Rushmore is servicing my loan appropriately. Is it acceptable for a banking institution to wait so long to post transaction or are the transaction not occurring?
Company Response: Closed with explanation
2018-09-18
Brentwood, NC
False statements or representation
Debt collection: I do not know
Attempted to collect wrong amount
Complaint: Based on my discovery, XXXX XXXX, XXXX has accepted and executed an unlawful mortgage assignment from Rushmore Loan Management Services. These deceptive, fraudulent, unlawful assignments are without merit due to my understanding that XXXX XXXX XXXX XXXX ( being represented by XXXX XXXX XXXX, XXXX ) were the CURRENT unauthorized servicer 's for XXXX XXXX XXXX XXXX who in fact conducted an assignment using Rushmore without proper POA that went unrecorded and the notaries were executed fraudulently ( See Attachments ). Ref. Page1 : XXXX XXXX XXXX XXXX & Rushmore Loan Management Services, LLC conducted, organized, and transferred an unrecorded assignment with Rushmore not having POA to do so. Rushmore was not authorized to do so until XX/XX/XXXX. The original lender closed its doors XX/XX/XXXX and never authorized MERS, XXXX XXXX XXXX XXXX nor Rushmore to accept, hold nor transfer an assignment. In fact the assignment that was transferred is the first note and all of these assignments recorded and unrecorded are based off of the second note which is FRAUD. XXXX XXXX misrepresented both XXXX XXXX XXXX XXXX & Rushmore. The original lender NEVER demanded payment for the second note. The second note never was assigned it was in fact the first note that was unlawfully transferred by ALL parties. Ref Page2 : The assignment transfers were unlawfully notarized and the loan number was used for Rushmore & XXXX XXXX XXXX XXXX. XXXX XXXX unlawfully notarized documents on the behalf of Rushmore Loan Services, LLC who is no were to be found. Page3 : Rushmore unlawfully transferred its servicing rights to SLS however, Rushmore without the proper authorization transferred ownership to XXXX. From my understanding XXXX XXXX XXXX XXXX was the current owner of the fraudulent note that was transferred from MERS as grantor on my deed. Page4 : XXXX XXXX XXXX XXXX confirms ownership that was fraudulently transferred by XXXX and authorized XXXX to be its servicer. REF Page6 : XXXX XXXX XXXX XXXX and Rushmore confirms that the relationship of mortgage assignments were fraudulently conducted due to Rushmore was executing mortgage assignments BEFORE they had XXXX to do so ( See attachment Page # 1 ). I never surrendered my property. REF Page7 : Rushmore Loan Management Services, LLC unlawfully executed an unrecorded assignment informing me that XXXX XXXX, XXXX is the current owner. Confusingly, from my discovery XXXX XXXX XXXX XXXX was the owner, XXXX was the servicer and XXXX and XXXX, XXXX represented XXXX. However, due to unfair, unlawful business practices by ALL parties I am left with a " clouded deed '' with no clear understanding of how to stop these unlawful unrecorded transactions that were never authorized by the original lender. Ref Page 8 : Rushmore Loan Services, LLC deliberately mailed this document to a residence where I do not live. Rushmore tried to forward this document so I could not follow the trail of unlawful assignments. Rushmore and all affiliates are well aware of my current address.
Company Response: Closed with explanation
2018-09-17
Miami, FL
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-09-17
Maynard, MA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-09-17
Soquel, CA
Trouble during payment process
Mortgage: Home equity loan or line of credit (HELOC)
Company Response: Closed with explanation
2018-09-17
Saint Helena, CA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-09-13
NY
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: Rushmore Loan Management Services refusal by Rushmore to appraise house for cancellation of PMI I have written 3 letters to Rushmore as per their instructions, requesting an appraisal of my home to cancel the PMI. Each time I send in the request, they arbitrarily deny it, stating my home value is not 20 % value to loan. They are refusing to appraise the house for its new value post improvements. Each month I continue to lose money because my loan " service '' refuses to provide service.
Company Response: Closed with explanation
2018-09-12
Allenwood, NJ
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Complaint: History : I reside in a property that I bought as a single woman in XXXX. I married in XXXX and added my spouse to the deed in order to benefit from a lower interest rate in a refinance. This individual abandoned the family/property in XXXX. I have been solely responsible for the upkeep of the property. I have painstakingly paid the mortgage myself since XXXX, on time by the end of every Single month. I have received the property in a divorce settlement, even though it was not considered communal property because I owned it before the marriage. The issue at hand is that the individual who abandoned the home is on the mortgage note and I need to remove his name ASAP.
Enclosed in the document sections please find a letter from Rushmore mortgage company indicating that my identity and ownership in the property have been confirmed and they made necessary adjustments to their servicing system to reflect me as a confirmed successor in interest. I have reviewed the new rulings of XX/XX/XXXX. Now that I have been approved as successor, I have presented to Rushmore again in an ongoing request since XX/XX/XXXX, to be substituted as obligor on the mortgage and have a document prepared for the individual on the mortgage to be released from liability.
I have yet to receive an answer. I call into the mortgage company on a regular basis. I have sent in my request over and over, by mail and through fax. The last written request i faxed on XX/XX/XXXX. I have called in since and have been told to wait thirty days for a written response which I never received. When i called today, I was told theres no record of those documents.
From my understanding, there was an also an interpretive ruling ( XXXX XXXX ) issued to clarify where a successor in interest who has previously acquired title to a dwelling agrees to be added as an obligor or substituted for the existing obligor on a consumer credit transaction secured by that dwelling, the creditors written acknowledgment of the successor as obligor is not subject to the bureaus ability to repay rule ( ATR RULE ) 1026. 43, because such a transaction does not constitute an assumption as defined by regulation Z. 1026. 20 ( b ) Unfortunately, every time I contact Rushmore by phone, I received different information or different directions. I have asked to speak to supervisor is on this issue and I have consistently been denied. They sometimes referred to re-financing. I explain to them that I simply want to be substituted as obligor, and I am told by some of their staff that they have never even heard of that! I have also been told that the individual on the mortgage needs to make this request. I explain that as a confirmed successor in interest that I have the right to be treated as borrower and that I will have the individual sign a quick claim deed the same day he signs a release of liability that they provide, with a notary. They have yet to send these documents. I have explained to them that I understand that these rulings are new and maybe unfamiliar to them. However in the interest of Home retention, I am reaching out to you to help clarify this for Rushmore. This is my principal residence with XXXX children! I pay the mortgage every month in a timely manner. I understand my consumer rights according to these rulings and I just try to have faith that someone at Rushmore will be trained in these rulings and help me. Time is of the essence for my family. Please help
Company Response: Closed with explanation
2018-09-12
Mansfield, MA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-09-12
Marvin, NC
Applying for a mortgage
Mortgage: Other type of mortgage
Company Response: Closed with explanation
2018-09-11
OK
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: I attempted to make my XXXX mortgage payment on XX/XX/XXXX only to discover my mortgage payment was increased without any notification. I contacted XXXX XXXX XXXX XXXX and was informed that I failed to pay my taxes for XXXX. I explained I had a receipt for the XXXX taxes that I paid in XX/XX/XXXX. I was told on teo different phone calls on XX/XX/XXXX and XX/XX/XXXX that the correction would be made. As of today they are still escrowing for taxes. I have a not escrow account as I approval from previous lender to pay my taxes and insurance. I feel Rushmore has violated my rights as a consumer as they did not contact me by phone, e-mail or mail advising or asking about the taxes. I believe i was to be given notice of the payment change at least 15 days or more before the effective change as if this date that still has not happened. I have made the payment at the higher amount because I can't afford to ruin my credit just because Rushmore will not fix the payment to principal and interest only. Rushmore has been very uncooperative and has given me the run around.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2018-09-10
Arlington, CA
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-09-07
Houston, TX
Trouble during payment process
Mortgage: Home equity loan or line of credit (HELOC)
Complaint: Loan transferred from XXXX to Rushmore Loan Mgmnt Svc. My initial loan payment has been misapplied with 83 % of my payment being applied to interest ( last payment w/CapOne was approximately46 % ). I noticed this immediately and contacted RLMS by phone. First, I was told I was not calculating it properly ( I am a banker, so I do understand the correct methodology ). Second, I was told to write their Department of Consumer Affairs - mail or fax. Third, I called again and was now told my case had been escalated and it was not an isolated case. They asked me ( again ) when was my last payment ( note, payments have been auto-debited, on-time for 4 years - and Ive made additional principal payments ). They said they are reviewing it and would provide no timetable for resolution. No estimate, no guidance as to how to obtain an update other than checking onsite daily, calling daily, etc.
If your business is processing loan payments, it should be fairly simple to do so. And, if an error occurs, they should be able to correct it. Instead, this company is trying to charge me a larger amount of interest than when my loan balance was $ XXXX higher! I question if it is an error or intention and would like this resolved. Also - in researching this company, I have seen countless reports from individuals who can not even payoff their loan and leave RMLS ( they keep denying the payments for a number of reasons, delaying payoff, gaining interest ). I am worried I may not even be able to pay them off and get away!
The {$2600.00} payment was applied {$2100.00} to interest and {$450.00} to principal. The current loan balance is approximately {$370000.00} and the interest rate is 3.625 %. Original balance was {$560000.00}. Even on the original amount, the interest portion of the monthly payment would not be anywhere near {$2100.00}. Very cautious this is a scam to derive more interest payments from clients as many individuals would not check the details.
This is only the first payment due/made. I am questioning how long it will take to correctly apply the payment as future payments will further complicate the situation. I do not want this company to damage a strong credit history Ive established over many years. I also set up auto-debit before I realized there was a problem and am now worried what this company may do with this capability. Reports indicate they change amounts and debit at their own discretion.
Company Response: Closed with explanation
2018-09-07
Houston, TX
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-09-07
N Grafton, MA
Trouble during payment process
Mortgage: Other type of mortgage
Company Response: Closed with explanation
2018-09-07
Montevallo, AL
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-09-07
Dracut, MA
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-09-06
Warrenton, VA
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: I have been writing and complaining about my loan with Rushmore management. All of a sudden my monthly payment went up from XXXX to XXXX dollars. They said it was due to taxes and escrow. I objected and said I would rather pay my own taxes for which I made a XXXX dollar payment to VA department of taxation.
Calling Rushmore is useless. The people who answer are either in the XXXX or elsewhere. Each says something differently. In the month of XXXX I was in XXXX, CA and even though I had asked whether Rushmore had an office there, on the phone they told me it is just a PO Box . Well, I went to a building and No it was not a PO Box but a few story company there. I asked to meet someone. Finally a lady by the name of XXXX XXXX came and I talked to her at length and told her of my grievances. I also paid an amount of XXXX which had remained from the XXXX dollar payments i had made. I also told her that I think it is absolutely ridiculous and highway robbery that after making nearly 2000+ a month since XXXX on a loan of XXXX, I still owe Rushmore which is now the new lender or service loan XXXX plus some XXXX in late fees!!!!! I have paid over the years more than XXXX on this loan and still owe apparently XXXX!!!! How much do these people want? 200 percent on their investments? or XXXX?!!!
I have asked in various letters and complaints that I want this balance down and the monthly payment to be reduced to an amount that I can afford. I emailed Ms. XXXX two times since I met her and have left her 3 messages on the phone. She has not even bothered to return my calls. Ms. XXXX also told me that Rushmore is changing the amount to a lower amount as I paid the taxes. But what I get is the same amount and in fact the last statement was for 5000+. I want a total change on this loan and I want Rushmore to provide answers and return my calls. Otherwise, they are considered UNPROFESSIONAL.
Company Response: Closed with explanation
2018-09-06
NJ
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Complaint: I have a mortgage serviced by Rushmore Loan Management Services.
I am trying to refinance thru a mortgage broker, who asked for a written explanation of a line on my mortgage statement, titled, " Deferred Balance '' in the amount of {$22000.00}.
I've communicated with Rushmore via phone several times over a month, with conflicting answers given me by staff and management.
I'm now at risk of losing a lower mortgage rate and feel Rushmore is being evasive and not acting in good faith.
We ask that Rushmore send an explanation in writing via the FAX number they have listed in my account notes.
Thank you
Company Response: Closed with explanation
2018-09-06
Irving, TX
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2018-09-05
Shulerville, SC
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: To whom it may concern : XXXX XXXX XXXX ( hereinafter referred to as the Debtor ) filed a petition for Chapter XXXX Bankruptcy on XX/XX/2018. XXXX XXXX ( herein after referred to as the Trustee ) was duly appointed as the Chapter XXXX Trustee. The Debtor requested the Trustee short sell the Debtors property located at XXXX XXXX XXXX XXXX, XXXX XXXX SC ( hereinafter referred to as the Property ) as it is in the best interest of the Debtor for the following reasons : 1. A short sale is generally less detrimental on a Debtors credit score than a foreclosure. Further, a lingering foreclosure could have a lasting negative impact on the Debtors ability to restore her credit. Usually, it takes several months for the bank to start foreclosure proceedings once the Debtor stops making payments. If a Debtor files for Bankruptcy sometime before the foreclosure sale, the foreclosure process is extended even longer as a result of the bank having to get relief from the Bankruptcy Stay. In that situation, the Debtor will be discharged from her debts and starts re-building her credit again, but then several months later, when foreclosure it complete, and her credit is damaged once again.
2. It saves the property from deterioration and becoming a blight to the neighborhood and lowering the values of the surrounding properties ; 3. Non-dischargeable post-petition HOA fees are paid ; and 4. A short sale pays the mortgage companies more than they would receive in a foreclosure sale, especially a second mortgage company which would generally not receive anything through a foreclosure sale. The mortgage company will also save fees and costs by avoiding the foreclosure sale, including the cost of the auction, having to hire a realtor, or find a buyer who is ready, willing and able to buy the property.
The Trustee is legally the owner of the property pursuant to the Bankruptcy Code. The Chapter 7 Trustee is authorized pursuant to 11 U.S.C. 363 ( f ) to sell property of the bankruptcy estate. According to 11 U.S.C. 541 ( a ) ( 1 ), property of the estate includes all legal or equitable interests of the debtor in property as of the commencement of the case. The Trustee currently has a short sale contract on the property. XXXX & XXXX, XXXX ( hereinafter referred to as the XXXX ) is negotiating the short sale with the bank. We believe that short-selling property within the framework of a Bankruptcy case is beneficial for all parties involved.
My understanding is that banks are required to help homeowners avoid foreclosure if possible and, if a bank is not giving reasonable allowances to avoid a foreclosure, a complaint to the Consumer Financial Protection Bureau may be necessary. I believe the following facts in this case warrant an investigation by the CFPB : 1. Weeks submitted the short sale contract to the lender on or about XX/XX/2018. 2. The lender declined the short sale on or about XX/XX/2018with no explanation. 3. Weeks contacted the bank on or about XX/XX/2018 and a representative named XXXX XXXX informed XXXX that the banks valuation was over $ XXXX and the short sale offer was too low. At this point, the bank had not contacted anyone from the Trustees team to schedule an inspection of the property, but the banks representative informed Weeks that the bank had a valuation of {$1.00} XXXX. After further questioning, Weeks was able to determine that the bank had only performed a drive-by/ external valuation.
4. On or about XX/XX/2018, XXXX submitted a value dispute. The value dispute from the Trustees team included realtor price opinion based on interior inspections, comparables ( including distressed and non-distressed properties ), repair estimates, showing feedback reports, offer summary for property ( we received multiple offers on the property all within 10 % of the list price ) and other supporting documents/ information that supported the contract price.
5. On or about XX/XX/2018, the value dispute was declined and a representative from the bank said that the {$1.00} mill valuation was confirmed with an interior inspection.
6. On or about XX/XX/2018, XXXX challenged the valuation because the bank had not contacted anyone from the Trustees team to schedule an interior inspection of the property. The bank again certified the valuation was based on an interior valuation.
7. On or about XX/XX/2018, XXXX requested a copy of the interior valuation.
8. Following Weeks request for a copy of the interior valuation, the bank contacted the Trustees team for the first tie for an internal BPO ( herein referred to as BPO agent 1 ). Again, this was the banks first request for an interior valuation although they had been indicating to the Trustees team that the valuations they were using were interior valuations.
9. Shortly after BPO agent 1 was ordered, without explanation or disclosure, the Trustees team received a request from the bank for a second BPO ( herein referred to as BPO agent 2 ).
10. Around this time, the Trustees agent spoke with BPO agent 1. BPO agent 1 said that he submitted the BPO report on or about XX/XX/18. He said, when he submitted the first BPO, the bank challenged his comps and the bank gave him other comps that they wanted him to use in the valuation. BPO agent 1 did make a few updates per the banks direction, but the value did not change more than a few thousand dollars with their suggested comps. He said they asked him to increase the value, but he told them he could not justify their requested adjustment.
11. The bank only provided to the Trustee the results of the second BPO from BPO agent 2, which was higher than the BPO from BPO Agent Number 1. As an aside, BPO Agent Number 1, XXXX XXXX, has had 20 Homes Sales in last 3 years. He is also the Broker-in-Charge ; as opposed to BPO Agent Number 2, XXXX XXXX has only had 3 Homes Sales in last 3 years.
12. On or about XX/XX/18, XXXX submitted a complaint to the bank and asked to speak to a manager. Weeks spoke to XXXX XXXX who mentioned that the investor may have plans to take the property back as an REO and have their own contractors perform the repairs needed. The investors thoughts on taking back the property and doing minor repairs will likely not work in the Town of XXXX. XXXX is the toughest municipality to deal with in the area and they are not going grant an occupancy for the property without repairs. The town has already flagged the property in their system for unrepaired storm damage from the last hurricane. As soon as a contractor shows up to do work, the Town of XXXX is going to request access for a full property inspection. They will likely require an engineering report and full permitting on the repairs.
13. During this time, the bank filed a Motion for Relief from the Bankruptcy stay. While most banks will willingly allow the Trustee more time to close on a property before they proceed with stay relief, this bank would not allow the Trustee more time and directed its attorney to proceed with stay relief so it could proceed with foreclosure.
14. On or about XX/XX/18, the buyer paid for an appraisal of the property. The appraiser valued the property as-is at {$560000.00} which was less than the contract purchase price. The property was {$910000.00} for after-repaired value.
15. Weeks submitted the appraisal to the lender who replied : Investor disagrees with the assessment and has denied the offer.
It appears the investor is pushing for a foreclosure in this case. The property is basically in tear down condition. Our team has provided sufficient information to support the contract value ; we received multiple offers on the property and presented the investor with the highest and best offer ; and we have a cash buyer who is ready, willing and able to close as soon as we are able. Not only do we believe the bank will get a higher sales price through a short sale due to the issues with the condition, but there are judgment ( s ), an unsatisfied lien and substantial taxes/ liens owed to the DOR and IRS , so it would be faster, less expensive and less complicated for the bank to allow the Trustee to sell. Despite all of this, the investor has still refused the short sale and wishes to proceed with foreclosure.
It appears the bank is not affording the consumer reasonable allowances to try to short sale the property and mitigate his losses. It also appears that the bank is trying to intentionally over-value this property in particular, which could lead to over-inflation of the surrounding market in general and lead to damaging, lasting effects on the market/ economy as a whole.
We appreciate your further investigation into this matter, and look forward to hearing from you as soon as possible. If you should have any further questions, please do not hesitate to contact me.
With kindest personal regards, I am Very truly, /s/ XXXX XXXX Chapter XXXX Trustee
Company Response: Closed with explanation