RUSHMORE LOAN MANAGEMENT SERVICES LLC

2019-08-18

Middletown, NJ

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-08-17

Cordova, TN

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-08-16

Tarzana, CA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: In XXXX of 2019 my loan was sold to XXXX loan servicing by XXXX XXXX. Since being with this new servicer, the handling of my loan has been to say the least a disaster. I am in a HAMP incentive repayment program which was never handled correctly, and my loan payments have been misapplied. I was also advised by a supervisor in the United States that I could make a partial payment as there was money sitting in suspense that could be applied to principal. Other staff members of Rushmore took it upon themselves to reverse all this and to make a further disaster of my loan activity. Rushmore is now reporting me incorrectly 30 days late to the credit bureaus. I have tried more than multiple times to resolve this problem. Each time I call and speak with a supervisor I'm assured that I will have no negative credit reporting and that the problems are being fixed. They are not. The only person that tried to help me that is employed by Rushmore is a woman named XXXX in XXXX customer service. She assured me to send a secured message to Rushmore asking them not to report me as incorrectly delinquent and yet they did it anyways.
Company Response: Closed with explanation

Timely Response

2019-08-16

Cordova, TN

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Attached correspondence is modifications trial documents received from XXXX XXXX XXXX XXXX and Rushmore Loan Management. I made the 3 trial payments to XXXX XXXX XXXX upon 3rd trial payment clearing my bank, my mortgage servicer changed to Rushmore Loan Servicing. Received letter servicer changed, letter from foreclosure attorney stating my home was set for property foreclosure sale. Rushmore didn't honor trial modification with XXXX XXXX XXXX and didn't apply 3 trial payments that cleared my bank. Rushmore Mortgage sent another Trial Agreement, trial payments with Rushmore increased by $XXXX and the interest rate adjust out. My interest rate is at approx. 10.00 percent. XXXX XXXX XXXX final modification agreement was never received. My account was assigned to XXXX XXXX at Rushmore, I feel Rushmore is attempting to take advantage of me and set me up to lose my homes,they have not followed servicing guidelines for Consumer Protection. Please assist me with mortgage assistance.
Company Response: Closed with explanation

Timely Response

2019-08-15

Algonquin, IL

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-08-14

Fremont, CA

Struggling to pay mortgage

Mortgage: Other type of mortgage

Company Response: Closed with explanation

Timely Response

2019-08-13

NJ

Struggling to pay mortgage

Mortgage: FHA mortgage

Complaint: XX/XX/2019 XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX, NJ XXXX XXXX Mortgage Company : Rushmore Loan Services Loan no : XXXX To Whom It May Concern : I am sorry for delaying my mortgage payments. I have not kept my financial responsibility to your company because I had a marital separation and family emergency. All of my assets were almost lost due to my unfortunate event. However, I have slowly recovered from financial depression and I am able to keep my monthly mortgage payment and if you agree to help me workout a repayment plan. I have a stable job with a good income, and I would like to know if I can include my daughters income. I have invested 12 years on my property and I do not want to lose my condo, it is very important to me. I CAN AFFORD MY MORTGAGE PAYMENT ; UNFORTUNATELY, ITS THE ARREARS I NEED TEMPORARY HELP WITH. HELP WITH a repayment plan, a reinstatement, or some other solution to get me back on track. I have sent a detailed report to the Consumer Financial Protection Bureau as well as FHA and HUD. Sincerely, XXXX XXXX
Company Response: Closed with explanation

Timely Response

2019-08-12

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-08-12

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-08-12

Monticello, UT

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-08-12

Algiers, LA

Incorrect information on your report

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-08-12

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-08-09

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-08-09

Clinton, MD

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-08-07

NJ

Struggling to pay mortgage

Mortgage: FHA mortgage

Complaint: they are ignoring my e-mails and letters and phone calls. I can afford my month mortgage payment; I feel behind in XX/XX/2019 due to a martial separation and family emergency; I made a payment of $XXXX in XX/XX/2019. they refuse to help me and they are sabotaging my home.
Company Response: Closed with explanation

Timely Response

2019-08-07

Columbia, SC

Struggling to pay mortgage

Mortgage: FHA mortgage

Company Response: Closed with explanation

Timely Response

2019-08-07

Columbia, SC

Struggling to pay mortgage

Mortgage: FHA mortgage

Complaint: Modification approved XX/XX/XXXX first payment XX/XX/XXXX made 5 payments still showing behind on credit report which is illegal and unapplied payemnts on mortgage WHY? PAYMENTS HAVE BEEN MADE! Final modification paperwork was finished no need to sign anything else if your ERROR!
Company Response: Closed with explanation

Timely Response

2019-08-06

CA

Trouble during payment process

Mortgage: Other type of mortgage

Complaint: ON XX/XX/XXXX I COMPLETED A LOAN MODIFICATION PACKAGED AND FILED IT IN A TIMELY MANNER WITH XXXX XXXX VIA MAIL AND FAX SHE ACKNOWLEDGED RECEIT OF PACKAGE VIA A RETURNED LETTER AND VIA PHONE FROM HER XXXX XXXX OFFICE ON XXXX OF XXXX SOME SEVEN TO EIGHT DAYS PRIOR TO THE XX/XX/XXXX TRUSTEE SALE DATE PRIOR TO THIS LOAN MODIFICATION ON XX/XX/XXXX THE YEAR THAT THE HOMEOWNER BILL OF RIGHTS ( HBOR ) BECAME LAW IN CALIFORNIA I HAD A PREVIOUS MODIFICATION FILED. MY PRINCIPAL BALANCE WAS XXXX ( SEE ATTACHED ) AFTER MY THREE TRIAL PAYMENTS XXXX XXXX XXXX I WAS ON MY WAY TO PAYING OFF MY FAMILY HOME ON A VERY SOLID PAYMENT PLAN THEN THROUGH SOME FRAUD AND DECEPTION NOT HONORING OUR VERBAL CONTRACT I FOUND OUT ON THE WRITTEN CONTACT XXXX XXXX XXXX BALANCE DID NOT REFLECT THE VERBAL NOR THE THREE TRIAL PAYMENTS BALANCE, A DISPUTE ENSUED AND FOR 26 MONTHS ARE BETTER I TRIED TO RESOLVE THIS ISSUE ONLY TO HAVE TO DEAL WITH MUCH MORE SLIPPERY DECEPTIVE AND BIASED BEHAVIOR FROM NUMEROUS SERVICING CHANGES, RELOCATION OF MY FILE TO XXXX XXXX TO XXXX XXXX THEN NUMEROUS P.O.C 'S ( SEE ATTACHED THEN CAME THE ATTORNEYS AND LAF FIRMS. WHICH BY THE WAY RUSHMORE SEEMED VERY DECEPTIVE IN IT RESPONSE TO MY PREVIOUS CFP CASE # XXXX NO MENTION OF THE XX/XX/XXXX SALE DATE SEE ATTACHED DOCUMENTS ...
Company Response: Closed with explanation

Timely Response

2019-08-06

San Diego, CA

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Home equity loan or line of credit (HELOC)

Company Response: Closed with explanation

Timely Response

2019-08-05

Falls Church, VA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Hello Rushmore, Refer Following CFPB CASES XXXX, XXXX, XXXX You are not XXXX XXXX XXXX. So, you not supposed to reply to me for them because you are not. " CFPB XXXX XXXX XXXX '' Furthermore, you supplied wrong contact information for your principal. Undeliverable Mailing Address and False Phone Number. You asked me the authorization to contact you, so I've provided them for you, now you have them. For the same token, I'm asking your authorization to process our loan from the principal for our loan Provide us the authorization from my note holder. Under what authority, have you try to foreclosure our property? Which Government authority give loan servicer to foreclosure the property but servicing the loan? The documents you've prepared are anybody can get at the County Recorders office by paying $ XXXX page. Until you get me the authorization from your principal, you are simply one out of million fraudulent debt collector. Stop and ceasing your collection activities toward us immediately. Truly, XXXX
Company Response: Closed with explanation

Timely Response

2019-08-05

Brooksville, FL

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-08-05

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-08-05

Palmerton, PA

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-08-04

Rehoboth Bch, DE

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: My loan was transferred to a different mortgage company in XXXX. I had just successfully completed a load modification with the last mortgage company before is was transferred. Both companies said the new modification would be honored. The new company told me to fax or mail them a signed company of the terms in which I faxed and they acknowledged receiving. They then said they could not honor it cause it wasnt the original. They are now making me go through the process all over and I sent them EVERYTHING they requested and now theyre saying they received the package but its missing pretty much everything I sent. They are giving me the run around to take my property
Company Response: Closed with explanation

Timely Response

2019-08-02

Rockwell, NC

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: Please refer to my XX/XX/XXXX complaint against XXXX XXXX XXXX ( XXXX ) and the successor complaint against Rushmore Loan Management ( XXXX ) filed in XX/XX/XXXX. A brief recap follows : I applied for and was approved for XXXX XXXX special mortgage loan product called the XXXX XXXX XXXX. The amount of the mortgage was $ XXXX. This product was and is not a conforming mortgage ; it was directed at higher-credit customers. Terms were bi-weekly payments and a 5-year maturity. The rate was 2.55 % ; there was no index or margin disclosed. Beginning 6-months after the note date, XXXX committed to renewing the loan for additional 5-year terms as long as we met credit criteria. The Rate Renewal states : I may request and receive a Rate Renewal beginning six months after the date of the Note, as long as I meet all the credit and eligibility requirements in effect at that time. The credit and eligibility requirements may change at any time without notice. I understand that I may not receive the Rate Renewal if I dont meet these requirements. A Rate Renewal would modify the Note so that : ( 1 ) The annual interest stated in Section 2 of the Note would change to the annual interest rate in effect for XXXX XXXX loans being offered to the general public at the time of the request ; and ( 2 ) The Maturity Date stated in Section 3 ( A ) of the Note would change to a date that is approximately 5 years after the effective date of the Rate Renewal. The charge for a renewal is 2 bi-weekly payments ( much lower than a refinance ). We indeed executed a rate renewal and paid the 2 bi-weekly payments in XX/XX/XXXX to execute the Rate Renewal at 3 %. ( Even though the rate was higher, a HELOC lender stipulated that we first renew the XXXX XXXX XXXX. ) XXXX XXXX executed the mortgage business in XXXX and our loan was purchased by Rushmore. I had serious concerns about Rushmores ability to properly service this nonconforming loan and I was correct. I filed a complaint requesting how Rushmore was going to abide by XXXX XXXX original loan and rate renew commitments. Rushmore provided a response to the CFPB stating that Rushmore will be treating rate renewals as loan modifications, just as XXXX XXXX, XXXX. treated the last rate renewal in XX/XX/XXXX. The enclosed letter and Loan Modification Agreement state that if you want another rate change, you must request another Rate Renew. A fee is required if you renew your interest rate more than six ( 6 ) months from your New Maturity Date. Interest rates, eligibility requirements, and costs can change at any time. Enclosed is a Borrower Assistance Application, should you wish to apply for a loan modification. However, one would never know how Rushmore would actually execute on their end until we actually requested a rate renewal. A large part of my prior complaint was that XXXX XXXX had a proprietary pricing engine that provided rates much lower than market based on strong credit characteristics and the shorter duration of the mortgage. So given the precipitous drops in rate today, I determined that today would be a good day to pursue my rate renew option as promised in the response to me and the CFPB. My fears were realized. Their earlier letter stated they would be treating as a modification. They are treating this as a modification to a troubled borrower, not as the high credit product it is. Today they said the renew rate would be between 4 % - 4.5 %! This is preposterous and violates the letter and spirit of the original product. The 4.5 % rate quoted is 1.5 % HIGHER than the current 15-year rate of 3 %. As a frame of reference my February 2016 renewal was at 3 % and the 15-year rate at the time was 2.96 % ( I have provided web proof of these rates ). I knew this was going to happen. Rushmore has no way of replicating XXXX XXXX proprietary pricing engine. Shame on everybody for not giving my first complaint due consideration. The proper remedy should be to permit my wife and I to rate renew for the contractual cost of two payments at a rate of about 3 % for another 5 years as permitted by my loan contract.
Company Response: Closed with explanation

Timely Response