Wilshire Credit Corp, used collection agency tactics, slander and fraud when trying to take my home that caused financial and emotional damages in my life.
I was an unemployed, high risk, first time home owner with an ARM, first and second mortgage, interest only, zero down, no tax escrow with 5 PPP loans, bordering a flood zone. The perfect high risk target for Wilshire. Wilshire bought my loans 2 months after I got them from Wilmington.
Wilshire wrongfully reported my loan balances to the credit burro in order to negatively bleed my credit. Clearly Slander
On my secondary loan, I was paying into principle / equity but my credit report showed I owed more then I barrowed for both interest only loans. In 2 years when the ARM loans adjusted and I would not have been able to refinance out of the ARMs because of low credit score caused by Wilshire's Slander.
Wilshire forced flood insurance in an area that is not considered a flood zone, but does border one. This was the dispute that prompted me to refinance after only beining in the home for 9 months. There is more to this but I want this to be a summary of what happened to me and my family.
Wilshire never sent me a MIP Refund, isn't that Theft?
Collection Agency Tactics
The Software used to manage / service Home Loans was Collection Agency Software used to manage people with bad dept already.
Because they (Wilshire) call themselves a service company they don't have to treat us like we (The Homeowners) were still customers of a home lending institution.
My first payment to Wilshire was late due to one of the accounts not being set up correctly. Once it was I made the full payment for both loans at the same time.
Wilshire then charged late fees, I contacted them and they agreed to reverse the late charges. Not over.
They only reversed late fees on one of the loans not both so I had to call again. Then that got fixed and the late fees popped back up on the next months bill and on and on......
Dozens of calls later over several months it was fixed and the late charges were removed for good.
I can say during all the calls to try to get this fixed I got, the 1 hour hold, shifted from one person to another and another and then dropped, received then disconnected and probably a few others I have forgot now.
Wilshire is a predatory lender that is hurting the American people and should be stopped.