Complaint Review: Wilshire Credit Corporation

Wow,
This company is bad news. Horrible customer service is just the beginning. Wait times of 40 - 60 minutes are expected and no action is the name of the game.
I recently sold my condo and when we went to close, Wilshire hit us with a prepayment penalty. When we asked why, they said that we had been in violation of an arms length agreement. I know that an arms length agreement means that the buyer and seller cannot be related or have previous business arraingments. They said that it meant that the buyer, seller, agents, and mortgage brokers can not be the same people. It just happened that the buyer was also an agent.

After a number of phone calls, I have gotten nowhere. I've spoken with two seperate real estate attorneys and they have been helpful. They both agreed that Wilshire is absolutely fleecing me.

I will be fighting them and getting back my money. If you don't have their REAL address yet, here it is:
14523 SW Millikan Way Suite #200, Beaverton, Oregon 97005

Good luck

David
Miramar, Florida
U.S.A.