The Money Source Reviews 682

All the reps are extremely helpful and knowledgeable!

My contact person is very informative kept me and my family aware of our status also was very compassionate when answering my question

The Money Source stole our property tax overpayment! We were contacted by Maricopa County that they’d sent a check for 1300$ plus to our then mortgage company (The Money Source) only to have The Money Source keep the payment and now not respond to our attempts to collect.

From the very moment that The Money Source (the previous company name for Servbank) took over my mortgage loan in September 2022, I've never received good customer service. I can't imagine that real "customers" are writing the positive reviews, based on the approximately 20 phone conversations I've had with this company, as well as the written correspondence I've both sent and received from them.

For example, every time I've called about a problem, they've promised me a return call - not once have I actually received a return call. Repeatedly, they've told me deadlines by which time they would resolve my problem, but not once have they met that deadline. Currently, since August I've been phoning and writing them to close my escrow account and refund me the money in my escrow, since I have no property taxes and can pay my homeowners insurance directly to the insurance company. That still hasn't been accomplished - in fact , they're still charging me for ADDITIONAL escrow each month. Today, another representative told me that I'll receive a call back this coming Monday, October 30th, at 1:00 p.m. Obviously, based on the history, I'd be a fool to expect that to happen. However, other than contacting my state Commissioner of Insurance (which I keep hoping won't be necessary), what recourse do I have?

Servbank took over TMS and is neglecting to service VA loans! This is a disservice to vets and their families. WHY would you purchase a loan that you won't even honor the terms and conditions? How is this even legal? They gave me a email to someone names Chad Munsey@ Themoneysource.com but he doesen't answer his phone(480 562 6057, which I challenge anyone reading this to call) or return emails regarding my assumption request. TMS was legit but Servbank is horrible. I wish there was a way to take my loan elsewhere without having to refinance!

Still nothing has changed. I’m working with Kristi, who says they are working on it and will get back to me with more information. I do not understand when I have provided all the documentation and proof of payments. Also you can see my money went there and they allocated it wrong.

This is not normal for a company to take months to get your mortgage account processed correctly.

You call and write emails and they are pleasant. You get please be patient with us we are looking over the matter and I will reach back out to you. I think I’ve been patient enough, it should not take months to fix a mistake.

Update to my previous review. NOTHING has changed! As soon as you think you have jumped through all their hoops they change them! They set an amount they wanted, we found a buyer and provided them the HUD showing they will get what they want out of the house and POOF! They increased it. TWENTY THOUSAND DOLLARS! And the house continues to deteriorate and is worth less every single day. And I am working with a VP, Kristi....

Kristi Schleicher defines what it means to be the VP in charge of customer experience...she is amazing!

Kristi explained everything in detail with all my questions.

I got stuck with them after my refi, so far they have lost or misplaced $3600 I put towards paying forward getting ahead in payments, they just randomly decide where to put the extra money I put in my payments despite the memo telling them where to put it. Their customer service reps were trained by 3 year olds, they don't listen, they don't have any empathy, they lose money, payments don't get posted, and I am on the phone with them monthly because of how badly they mismanage my account. TO be fair, I write out the instructions and they signed officially, they just ignore them, do what they what and then rely on investigations to correct their accounting errors.

I do not recommend at all, for anyone to work with them.

Since we started with the money source, we’ve had a pretty good experience. They offered Covid relief in the form of deferred principal that helped us out a great deal. When it came time to sell, we need to pay off letter pretty quick. Unbeknownst to us it takes several business days when there’s deferred principal like we had. Given our short timeline, Kristi Schleicher was very accommodating and expedited a letter for us, keeping us within the closing timeline. Huge help.

I just got my mortgage statement today, and saw that my "escrow assessment" was $5000+ in the hole. After looking at all the transactions, my escrow account went from just over $1600 in escrow to being zeroed out. Not a single person can give me any kind of explanation as to why. Mean while my TOTAL tax and home owners insurance bill is approximately $10000. It was also stated that if I was not able to pay the $5000 by May, my monthly payment was going to jump by over $500 a month. The worst part about all this is this is NOT the first time this company has tried to bend me over a table... I have been in contact with my lawyer, and will be starting the refinancing process with a LOCAL bank! I would rather have a higher interest rate than to keep getting screwed every other year. Not a good pattern to be in TMS!!!

After having an unbelievably terrible experience, identifying numerous irregularities with my account, and poor customer support I was finally connected with Kristi Schleicher, VP of Customer Support. She worked through my account, provided direct and continuous communication and was clear about what the issues were and how they solved them. She was a bright light in an extremely frustrating month.

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. I’m 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 doesn’t make any sense whatsoever. I requested to pay my own property taxes and homeowners insurance and they denied that request. Huge SCAM!!!! It’s important that the public knows that this company is taking advantage of people and is poorly run. I’m 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 you’re experiencing the same increases that cannot be explained.

Len P

In regard to my initial post, Kristi is the person you want to work with at The Money Source if you have questions and concerns regarding your mortgage. She is extremely patient, knowledgeable and professional. Thanks again for helping me out and going over the changes in my mortgage in full detail. I feel better going forward having you as a contact for my mortgage needs!

This company is terrible……. I would not recommend anyone use them. My family and I have been screwed since our mortgage was bought by TMS. It’s unreal how companies like this are protected and we as consumers have little to no recourse.

The Money Source, Inc. is lucky to have Kristi Schleicher, VP of customer care on their team. My payment wasn't posted to my account a day before the end of the grace period. I emailed Kristi and received a phone call from her shortly thereafter to explain my situation.

She assured me as to what she would do to resolve my situation and she did. I'm very appreciative for her support and kind spirit!

Thank You

Belinda T

This company bought my loan. The transition was pathetic and I have spend hours on the phone trying to resolve a payment I mailed almost a month ago (cleared my bank account but magically isn't credited on my account). THEN, when I call customer service, I have an EXTRA amount due that was NOT on the statement I received and mailed the check. The agents are very nice but the company is not up to speed on their process. I have another avenue for a loan with a low interest rate that I will be pursuing ASAP.

Each time I call TMS its a different story from a different person, 9 times out 10 I am treated like garbage and usually the call disconnects. Total professionals.
On October 2020, October 2022 and again in January 2021 (i think), the same thing happened. My account was overdrawn because multiple payments were sent to the bank. One rep says one thing and another rep says another and none of them get back to you or do what they say they will do. When I reached out to and eventually spoke to Kristi Schleicher, I was informed that I scheduled multiple payments. Spoiler alert, I didn't schedule multiple payments. I think it's interesting that in October 2020 (my first month with TMS) and then again October 2022 multiple payments were submitted and my account access is logged that I did these payments. Each time I log in to TMS, I have to change my password, when I have my passwords in a pw ledger, and its always changed. Funny thing here - I am adding my loan number and I have to change my password AGAIN, within 5 minutes of just changing it.
"TMS can clearly see what was done on their side and that I "made" those changes and payments." 1 - they wont allow me to see the records and 2 - the same thing happened the exact month 2 years apart. I believe there is a glitch of some sort and instead of TMS fixing it, they say that they can clearly see via their logs/ledgers that I did this....they waive the fees on their side but do nothing to fix the NSF fees on the bank side. Hundreds of dollars of NSF fees because TMS is terrible and wont fix their broken system. On October 3rd, 2022, I three way the call with my bank (USAA) and TMS and the customer service rep from TMS was a complete d*ckhead to my bank rep. The bank rep was stating facts and treated poorly by the TMS rep, the TMS rep kept implying that he and I were liars. In October of 2020, my mortgage changed servicers and I lucked out by getting TMS. The exact same thing happened and I got nothing but the run around. I sent all of this to Kristi Schleicher and from my account nothing was actually done, Kristi waived fees from TMS but didnt fix any of the base problems, like reps treating people like crap or the actual issues that keep these problems happening.
On top of that, TMS ALWAYS adds more money on my escrow because my insurance increased, I call my insurance company (USAA) and they say they shouldn't have increased my insurance amount because my insurance hasn't increased, but TMS does nothing but take my money! They are terrible. I don't pay property taxes and TMS wants to hold onto hundreds of extra dollars in my escrow account, for what? They steal money! and now their system is down...AVOID AT ALL COSTS! Mark Rober needs to take care of this establishment.

I really appreciate the quick call back after i emailed my question. Also Kristi explained the reason with details.

Friendly, but very incompetent! I was told not once, not twice, but THREE times that my daughter's loan was assumable. We wasted countless hours sending in documentation and on the phone with TMS in an effort to assume her loan, only to be given the run-around and ultimately told that her loan did not qualify. We were told the email stating it was not assumable was an error, and to resubmit our documents. Of course, we were told this verbally, and have no recourse. Do not waste your time with this lender. The staff is not trained to answer the phone! One star for friendly - but incompetency earns this company a bad review! Train your staff!