Consumer complaint received 2023-01-09
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: RUSHMORE LOAN MANAGEMENT SERVICES LLC (IL)

Instead of processing the borrower 's Short Sale Application in " Good Faith '' Rushmore Loan Management, LLC failed to conduct a full and complete Short Sale review as evidenced by XXXX XXXX failure to obtain a Fair Market Value of the home to complete this process. XXXX  also failed to send notice of its purported determination in writing. 

Further, XXXX  only vaguely verbally denied the short sale with no denial letter in writing on XX/XX/XXXX. Yet XXXX  also claimed it was actually denied on XX/XX/XXXX even thought 3 account representative 's Representatives at XXXX  confirmed everything was complete and the Short Sale review was presumed in review 3 times on or after XX/XX/XXXX. 

XXXX XXXX XXXX department is not sure why the Short Sale was denied. XXXX  was willing to read the very short purported denial letter over the phone which is essentially " declined ' being stated. The purported denial letter should have clearly stated the reasons why this file was declined for a short sale review. For example, XXXX  is required to disclose the actual reason ( s ) was denied, so if it was because the application was submitted 32 days before the foreclosure sale, and the investor required 37 days or more to process the short sale, then XXXX  should have clearly been stated on the letter. 

Again, XXXX  representative thought it was in review until XX/XX/XXXX whereby XXXX  then claims it was actually denied on XX/XX/XXXX and XXXX  representatives do not know why it was purportedly denied and XXXX  also failed to send it in writing promptly after it was purportedly denied. 

Borrower believes that XXXX  is either willingly or through neglect needlessly steering the borrower towards a foreclosure sale - frustrating the borrower who is trying to avoid a foreclosure sale on his credit report via Short Sale contract to purchase. 

XXXX  " steers '' distressed homeowners facing a foreclosure sale by failing to employ adequate personnel who process the short sale and then quietly fail to return the borrower 's calls or emails about the Short Sale Process by the name " Single Point of Contact '' ( XXXX ). The borrower is lead to believe everything is in good standing because there are no updates to contradict, account reps are XXXX  state they think it is being reviewed, can see all the documents with no further documents being requested, etc.. 

These XXXX who are assigned to the file, do not respond to the borrower 's inquiries and also fail at internally notating XXXX  's file with the actual status of the Short Sale application so that other loss mitigation personnel within XXXX  can not assist the borrower. 

Then when it is closer to the sale, XXXX  provides the borrower with a verbal denial that contradicts what XXXX  has been saying the last month before a foreclosure sale, with little time to spare before the sale date actually occurs. 

This results the property being driven towards a foreclosure sale instead of completing the Short Sale Review in " Good Faith ''. 

Please see attached Notice of Error letter that was submitted to XXXX  today with the loan 's number, property address and exact names of XXXX  personnel. The attached Notice of Error provides the dates dates and details of the phone calls and emails made to XXXX  to no avail.