Thrifts and Mortgage Finance
Company Overview of Residential Credit Solutions, Inc.
Residential Credit Solutions, Inc. is engaged in investing, issuing, and servicing mortgages. The company focuses on servicing and managing performing and nonperforming residential mortgage loans for homeowners. It provides subservicing of residential mortgage loans in the United States and Puerto Rico. The company also provides component services, such as borrower outreach, modification assistance, and loss mitigation services for loan servicers; and investor and co-investor of mortgage credit, such as residential loans, mortgage servicing rights, and mezzanine debt. In addition, it offers payment counseling services in the areas of repayment plan, loan modification, short refinance, short ...
4708 Mercantile Drive
Fort Worth, TX 76137
Founded in 2006
Key Executives for Residential Credit Solutions, Inc.
Chief Executive Officer and President
Chief Administrative Officer
Compensation as of Fiscal Year 2015.
Residential Credit Solutions, Inc. Key Developments
Residential Credit Solutions Inc. Agrees to Pay Borrowers $1.5 Million in Restitution
Jul 31 15
Residential Credit Solutions Inc. has agreed to pay borrowers $1.5 million in restitution for allegedly thwarting their attempts to save their homes from foreclosure. The Consumer Financial Protection Bureau says Residential Credit Solutions Inc. broke the law since 2009 by not honoring loan modifications agreed to by previous servicers and demanding that borrowers waive their rights in future foreclosures and bankruptcies if they wanted to qualify for repayment plans. The company also gave false information to some borrowers, misleading them about everything from unpaid balances and interest rates to payment due dates and how much money they owed each month, the bureau said in court documents. The company also will pay a $100,000 civil penalty and must help borrowers save their homes as part of the agreement announced by the consumer bureau on July 30, 2015. The company agreed to the payment without admitting or denying any of the charges.
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