President of Residential Finance Corporation , Texas

This company is not in business and in no way affiliated with Residential Finance Corporation, a Texas Corporation. Residential Finance Corporation, a Texas Corporation was incorporated 7 years prior to this company in Ohio with the same name. Please remove this company, Residential Finance Corporation - Ohio from this page as they do not even exist. They went out of business several years ago and no longer are licensed to do business in any state. Residential Finance Corporation in Texas was incorporated September 12, 1990 and is still licensed to originate home loans all over Texas and is licensed to do business. This company has had no compliants since being incorporated in the State of Texas. Residential Finance Corporation, a Texas Corporation is and has always been in good standing with the State of Texas.
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ID
#1244063 Review #1244063 is a subjective opinion of poster.

Be Afraid, Be Very, Very Afraid...of this Company

Save yourself time and money, go to a different mortgage company, one that, oh I don't know...CAN PAY IT'S EMPLOYEES! Residential Finance or RFC as it's known it going down in flames. Fast. Recently they had to buy back a bunch of mortgages apparently due to some kind of fraud, instead of paying with cash on hand (because they have none) or taking out a loan (their credit must be appalling) they did what any drowning company does, they used PAYROLL to to make the payment and forced employees to wait another week for their paychecks. Sadly, no one who works there was surprised because they constantly screwed up paychecks, it became a running "joke". Meanwhile, they have been dumping Branch Offices faster than the Titanic took on water. The HR Department is MIA. Instead of telling people what to expect as far as insurance and last paychecks, etc. goes they refuse to return phone calls and never answer their phones. They just cut everyone's insurance off without any warning, still waiting to hear from them about COBRA. Is that even legal? Hello? Hello? Too busy hiding from ex employees I guess. They deliberately screwed loan officers out of their commissions, letting them do all the work, then take the food out of their kids mouths at the lat minute. Seriously? Who does that? Oh yeah, financially unstable companies do. Whatever you do, do NOT give them any money, do NOT give them your credit card number for an appraisal. Do yourself a favor do get involved with them at all because one way or another they will not be in business for much longer. The question is will it be because they are totally bankrupt or because the Banking Commissioner shut the doors.
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1 comment
#1233221

This is the truth because I use to work for them also! They can't even pay their creditors; the check is in the mail.

I quit because I got tired of lying to people about getting paid. The mortgage writers make additional commission on the back end of the loan and the consumer doesn't even know it. Unless you divide certain numbers by a figure on the settlement you won't even know it.

If you know the formula, the interest rates will be different than what they quote you and this is why folk payments are higher when they go to closing! The high risk loans were sold on the market the Bears & Stearns...you see they went bankrupt and RFC knew everything that was going on!

ID
#452081 Review #452081 is a subjective opinion of poster.
Location
Raleigh, North Carolina

About

Summary

Residential Finance Corporation specializes in providing online mortgage tools. The company is based in Columbus, OH. It is intended to make loan experience of their clients quick and easy. The company promises some ways to lower monthly payment, to create a cushion of security by Getting Cash, to shorten ones Loan Term, etc. It promises fast and convenient loan closing. The company has been on the market since 1997. The loan options of the company include 15-year fixed-rate mortgage, 30-year fixed-rate mortgage, Veterans Administration VA loan options and FHA. Residential Finance Corporation is certified by the U.S. Department of Housing as well as Urban Development.

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