Business Profile
Mortgage Banker
The Money SourceHeadquarters
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Reviews
31 Customer Reviews
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Review from Dixie L
1 star03/29/2023
They have had my partial lien release held hostage since September 2022. They have no reason to not release my property, we have jumped through hoops(provided all documents asked for by email and fax) for the money source and still they refuse to release my property!! What do I have to do to get my **** acres released?
The Money Source Response
03/30/2023
Good Morning, My apologies for the experience you've had thus far. My name is *********************************. I am the ** of Customer Experience here at TMS. Would you be able to email me directly your loan number and contact information? My email address is ************************************************ I look forward to working with youReview from Ashley G
1 star03/20/2023
DONT USE TMS MAJOR WARNING March 2020 TMS had forbearance and covid information on their website I filled out a form for someone to call me back. It said they would call within 3 days. I never received a callback and TMS never contacted me when my April payment was late. TMS said there was collections memorandum in ****** and they couldnt contact me. Even though I filled out the form for forbearance when I was not late and have proof I went to the form. The collection memorandum wasnt even put in place until April 16. I didnt even know there was an issue until my credit score dropped. I have never been late on my mortgage or credit cards. Im very proactive about my credit and need it for my business. So far I have wasted over 40 hours calling TMS about this issue and hearing a different story all the time. Sometimes they say they will give me an error letter to give to credit agencies. Bank of America had an issue with customers thinking they were on forbearance incorrectly they helped their customers. I wish I would have used any company but TMSThe Money Source Response
03/21/2023
Good Morning, My apologies for the experience you've had thus far. My name is *********************************. I am the ** of Customer Experience here at TMS. Would you be able to email me directly your loan number and contact information? My email address is ************************************************ I look forward to working with you.Review from Melanie H
1 star03/17/2023
Collect money for insurance payments and then don't pay the insurance. So if you want your money stolen and your property uninsured, The Money Source may be the right lender for you.Review from Len P.
1 star02/14/2023
BEWARE of this company!!!! I started with them 5 years ago and my mortgage payment has increased by $1000. My principal and interest has remained the same but my escrow is being manipulated in ways that NOBODY at The Money Source can explain. I compared my tax bills and homeowners insurance from today and 5 years ago and my property taxes have only increased by $1500. Major SCAM alert for this company. Im in the process of hiring an attorney to go over everything they have been doing with my account. Something extremely unethical is going on and the answers are not coming from the 30 different reps I spoke to that can never explain how my mortgage has gone up $1000. All they say is the same phrase escrow analysis. Yet the math doesnt make any sense whatsoever. I requested to pay my own property taxes and homeowners insurance and they denied that request. Huge SCAM!!!! Its important that the public knows that this company is taking advantage of people and is poorly run. Im going to do my best to post this message and more on as many platforms as possible including my social media. I suggest you do the same if youre experiencing the same increases that cannot be explained.********The Money Source Response
02/15/2023
Good Morning **** ** apologies for the experience you've had thus far. ** name is *********************************. I am the ** of Customer Experience here at TMS. Would you be able to email me directly your loan number and contact information? ** email address is ************************************************ I look forward to working with you.Review from Jennifer J
1 star02/13/2023
Horrible experience. I am a real estate agent working with my clients to sell their home. They have an assumable loan (which is a huge selling point with todays interest rates.). We got some buyers who submitted their paperwork to assume the loan back in September. Beginning of October they asked for more information. Which then lead to resubmitting pay stubs because the ones previously sent in were too dated. Little communication. Id email the assumption team, rarely would I get a response with any information as to where they were in the process, as they told us it would like ***** days from start to finish. December came & we were told they had *************** was to their underwriter & was being sent to the VA. A few weeks later in January the buyers received a letter that TMS was no longer doing assumption loans. I called to confirm everything was sent to the VA, they told me they no longer do assumptions. I said I understand this but in the last email it stated it was being sent to the VA. They spoke with a supervisor who stated it was not ************ was nothing they could do, they no longer do assumptions. The VA was contacted & they have never received the package from TMS. How can this be? All paperwork was completed & to you months prior. Not to mention the sellers have an assumable loan, its on their paperwork! The one holding this mortgage doesnt have to abide by the contract? How can this be done after obtaining all personal information. This has left the sellers & the buyers in a situation. They offered me nothing but assurance that the buyers paperwork was secure. Fine & great but why can you hold onto it but not send it to the VA as told ? I would not recommend this company to anyone. **************** is terrible, communication is awful. They offer no help. I have filed complaints within the departments. But this company needs to be stopped from doing this to others.Review from Joanne G
1 star02/10/2023
Stay away from this company! I was on a forbearance during Covid and legally protected from reporting to credit rating companies. They illegally reported my account as 30 days late. After the forbearance I paid all of the balance that was due and my account is up to date. Im buying another house and this misfiling is going to cost me $20,000 in ******* money and the house I want to buy. Ive already had to delay the closing date by 7 days! Its been almost a month and they keep giving me excuses and lying to me saying theyre working on it. For some reason not given to me, they are always waiting on a letter to the credit reporting agencies. They have gatekeepers that keep you away from talking to anyone with authority. Im getting nowhere every 3 days when they tell me the credit reporting agency will get their letter. THEY ADMIT THEIR MISTAKE and refuse the write my lender a letter saying it was their mistake and theyre working on it and the late payment will be corrected! They say they have protocols to follow. The supervisor refuses to give me his supervisors name or even e-mail them about the urgency.Avoid this mortgage company at all costs! This company bought my mortgage from Veterans United Mortgage. They have been a nightmare!The Money Source Response
02/13/2023
Good Morning ******, My apologies for the experience you've had thus far. My name is *********************************. I am the ** of Customer Experience here at TMS. Would you be able to email me directly your loan number and contact information? My email address is ************************************************ I look forward to working with you.Review from Jeff E
5 stars02/03/2023
Very helpful and professional have always had a great experienceReview from Jamie V.
1 star02/02/2023
TERRIBLE! VA Assumable mortgages should be honored! TMS told my client and I , who is a Veteran, that they did assumable mortgages. My clients started the process in Oct 2022. We have a buyer that meets all the qualifications! The buyer and my seller kept getting the run around and was told TMS was still waiting for documents from my seller which was submitted to them several times. By late, TMS stars to me, the buyer AND the seller they had everything they needed. We waited and they stalled. The buyer was surprised to receive a letter from TMS the first week of January stating they no longer to assumptions!!!!! They directed ** to VA. The VA sends ** back to TMS bc THEY are the lien holder. My seller, the veteran, filed a complaint here. TMS did reach out to them bc of the bbb complaint. TMS was NOT helpful. It was apparent she was not qualified and did not know what she was doing. TMS tried to make the excuse again that my seller didnt submit the paperwork they needed and wanted to refer us back to VA (who says they arent the ********************* and cant do the assumption.) Even though we kept asking if they needed anything else and the answer was NO. Remember by the end of December they told everyparty they didnt need anything else!! We know they were dragging feet to try to get out of doing the assumption. Seeing ******** review and that she had the same issue confirms TMS plan in stalling. Some how my clients review on here was removed as if it was resolved and it HAS NOT been resolved. What a mess! Ill never refer a client here. Their employees are not properly vetted for their positions and it creates chaos and confusion.Review from Jasmine S.
1 star01/26/2023
When my brother passed away I was appointed the Personal Representative of his estate by the probate court. The Money Source would not share any information, including the loan payoff information(!!) when I put my brother's home on the market unless I agreed to become a successor in interest in the property. I was pressured by multiple agents to do this, despite explaining multiple times that I was not taking over my brother's mortgage and I was appointed by the probate court to safeguard the estate's assets and pay off its debts. One day I received a letter from TMS stating that they'd received my request to become a successor in interest in the property, which I'd never done. They are an unethical, dishonest, cruel, predatory company that acts in bad faith.The Money Source Response
01/27/2023
Good Morning *******, My apologies for the experience you've had thus far. My name is *********************************. I am the ** of Customer Experience here at TMS. Would you be able to email me directly your loan number and contact information? My email address is ************************************************ I look forward to working with you.Customer Response
01/27/2023
******, I know who you are and you're one of the people who would not respond to me when I requested the payoff amount. My lawyer explained the probate process to you and nothing changed in your company's terrible approach. I stand by my rating and comment.Customer Response
01/30/2023
********************************* is pretending she doesn't know me or the issue I described in my review. She is one of the people and my probate attorney and I contacted and she would not help me. Her response is typical of The Money Source. I do not take back my comment.Review from Lynn W
4 stars01/25/2023
Great company , I had to call in to get a better explanation of my escrow account and how it works . Not all customer service members explanation was transparent, so if you need to call a few times until you understand everything you need to know to feel comfortable do so. I'm a Military veteran and sometimes because of our disabilities we need that extra attention to detail from customer service experience
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