I got a loan last September from a loan company called 'Residential Finance Inc' (RFC loan # 1307463787) on the house I bought from bank owned which had some damages. I got $8000 credit from the seller bank to cover the cost of repair, but the load company hold $6000 of it as holdback escrow fund until we fix it. Now we have all the damages fixed and want to get the escrow fund back, but found out that Residential Finance is bankrupt now and my loan been transfer to Dovenmuehle (loan # 1433913900) after Residential Finance bankrupt and from Dovenmuehle to currently Seneca Mortgage Service (loan #5098105) now, but the $6000 escrow holdback fund is missing from the loan.
I contacted Seneca Mortgate Service for it and they spent 2 months did the research and told me that Dovenmuehle didn't transfer the $6000 to them and even Dovenmuehle didn't get it when they received my loan.
I contacted PMAC lending which is now occupied the Residential Finance office and they said they didn't acquire all the loan from Residential Finance and they didn't acquire my loan.
I contacted my title company -- ServiceLink asking about the escrow fund and Eric Fisher my service officer said that RFC requested a check of $6000 and cashed it around 9/30/2013 right after I closed my loan and they didn't put it into my loan account even on the check it clearly marked
'TO THE ORDER OF -- RESIDENTIAL FINANCE CORPORATION / LOAN # 1307463787
So I've read complaints here from consumers who've done business with Residential Finance. Now, let me tell you an employee's story on working here. Their rates and fees are exorbitant, when you try and get an answer to a question from upstairs, it takes a week or more, and just when the underwriter tells you your loan is about to be cleared, BOOM! They fire the underwriter and now you have to turn your file in for a brand new underwrite by another underwriter.
That's just when you're employed with them. When they decide to shut your branch down, you get five minutes' notice while they cancel all of your passwords, call all of your clients and tell them you're not working their loan anymore, and then NOT PAY you for the previous three weeks you've worked - and your paycheck was due to come the very next day. Then try and contact someone who can tell you when or even IF your paycheck was mailed, so that you can pay your bills, only to find out that they're closing up the company to avoid paying anyone a dime of what they worked for.
Residential Finance Corporation Reviews
I got a loan last September from a loan company called 'Residential Finance Inc' (RFC loan # 1307463787) on the house I bought from bank owned which had some damages. I got $8000 credit from the seller bank to cover the cost of repair, but the load company hold $6000 of it as holdback escrow fund until we fix it. Now we have all the damages fixed and want to get the escrow fund back, but found out that Residential Finance is bankrupt now and my loan been transfer to Dovenmuehle (loan # 1433913900) after Residential Finance bankrupt and from Dovenmuehle to currently Seneca Mortgage Service (loan #5098105) now, but the $6000 escrow holdback fund is missing from the loan.
I contacted Seneca Mortgate Service for it and they spent 2 months did the research and told me that Dovenmuehle didn't transfer the $6000 to them and even Dovenmuehle didn't get it when they received my loan.
I contacted PMAC lending which is now occupied the Residential Finance office and they said they didn't acquire all the loan from Residential Finance and they didn't acquire my loan.
I contacted my title company -- ServiceLink asking about the escrow fund and Eric Fisher my service officer said that RFC requested a check of $6000 and cashed it around 9/30/2013 right after I closed my loan and they didn't put it into my loan account even on the check it clearly marked
'TO THE ORDER OF -- RESIDENTIAL FINANCE CORPORATION / LOAN # 1307463787
So I've read complaints here from consumers who've done business with Residential Finance. Now, let me tell you an employee's story on working here. Their rates and fees are exorbitant, when you try and get an answer to a question from upstairs, it takes a week or more, and just when the underwriter tells you your loan is about to be cleared, BOOM! They fire the underwriter and now you have to turn your file in for a brand new underwrite by another underwriter.
That's just when you're employed with them. When they decide to shut your branch down, you get five minutes' notice while they cancel all of your passwords, call all of your clients and tell them you're not working their loan anymore, and then NOT PAY you for the previous three weeks you've worked - and your paycheck was due to come the very next day. Then try and contact someone who can tell you when or even IF your paycheck was mailed, so that you can pay your bills, only to find out that they're closing up the company to avoid paying anyone a dime of what they worked for.