ResMac |
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Consumer reviews about ResMac |
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Katy56
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May 3, 2012
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They are very unprofessional
I used ResMac for my mortgage needs and I regret it. They kept telling me everything's fine for 6 months and then they let us down. They are very unprofessional. Beware of this business.
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lagayle59
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Jun 30, 2013
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Resmac, Inc. Failed to refund initial deposit of MLO
When I became an MLO, operating a company with Resmac, Inc. as my lender, I was required to deposit $2100.00 into an account in case my loan closing branch percentages were not enough to cover expenses of my company each month. It was very difficult to get a loan closed with Resmac, because they apparently only wanted an MLO to close one loan a pay period, but up until January, 2013, I did manage to close enough to cover expenses of the branch. In February, 2013, a portion of the $2100.00 was used to cover my branch expenses, however a loan closed later in February that I had worked and was ready to close when I resigned with the company Feb. 14, 2013 because the underwriters and processors were so very slow that getting a loan to closing. Since I submitted this loan, and it was ready for closing, I was paid on the loan. The percentage of the loan proceeds that was to be deposited into the branch account would have cleared the $2100.00 so that my initial deposit was intact. The contract I signed with them stated that the branch deposit would be refunded by 120 days after termination of the agreement (which terminated when I quit). For awhile I emailed asking about this amount, and was told that they had 120 days to refund that to me. Well, 6/15/13 was 120 days and now they won't even answer their emails, so I am hiring an attorney to try and get this money from them.
I would not advise anyone to align with Resmac, Inc. as I do not believe they will ever get things straight enough to close loans in a timely manner, or close them timely enough that anyone can make a living working for them. I have been in the mortgage business 15+ years, and have NEVER before seen a company that operates as they do.
MLOs BEWARE of RESMAC, INC. They are not on the up and up, that is for sure.
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