The Money Source Reviews 682

I had the best customer service experience with TMS. I was helped quickly and the agent was so friendly and knowledgeable. I know when I have a question I can call and be helped fast. Highly recommend TMS.

I had such a great customer service experience with TMS. I was helped quickly and the agent was so friendly and knowledgeable. I know when I have a question I can call and be helped fast. Highly recommend TMS.

Like others have said...if zero was an option, it would be what I would give them. Despite paying escrow for the past year since we refinanced, TMS failed to set up our account correctly and have not paid our taxes out of the account. We have tried to resolve this issue 6 TIMES and filed a BBB and CFPB complaint. This is 100% an error on their end and now they're threatening a lien on the house if they don't pay and a 5% fee. Customer service and the tax dept are completely inept and NOT customer service focused. We will be taking legal action.

All I can say is FILE your COMPLAINT(s) with the CFPS government entity. Hopefully at some point this company will be out of business. They are required to give a response on CFPS and hopefully a competent person will help you at this point. I got a response even though I am still not sure that my payment was applied to the new loan servicing company yet (Mr Cooper, which as a company seems to be a ton more customer service friendly and competent). I can never recover the 100+ hours of working with completely faulty systems and incompetent service reps with Better Mortgage and The Money Source however which no amount of money could ever recover.

Can I give them a negative 3 stars? My home loan was sold to them. There is nothing professional about this company. It doesn’t look, feel, or act like a real bank. Their app is horrible. Their branding is unprofessional. It looks like a hippy opened a bank. Nothing against hippies, but they don’t exude money security. I wish I could force them to sell my loan.

I called due to an error in my home owners insurance, and let me say that the help I received was beyond my expectations. Everything was handled quickly. The people that helped me were friendly, kind, and most important caring. I didn't feel rushed, they made me feel important. GREAT JOB!!!!!

I was going to have a bill due for cars in Feb 21. Dee helped me setup a kind of deferment plan help me sort skip a payment or two until I can catch up. She is very professional and knowledgeable.

The Money Source was the initial servicer of my refinanced loan, however, they quickly transferred it to another company. But in transferring my loan, one of the payments I had made to TMS went missing, so the new servicer showed my loan as past due with an incorrect balance. I spent hours on the phone with both companies trying to straighten this out. Fortunately, my complaints eventually made their way to Kristi Schleicher at TMS. She researched the issue and stayed in constant contact with me until it was resolved. While I still don't fully understand how a payment could be lost in the transfer, and the process of getting the error resolved was extremely frustrating, I am grateful for Kristi's care and attention to this matter. If I had any issues with a TMS loan, rather than go through the customer service telephone operators, I would contact Kristi directly.

My Automatic payment held in Suspense! I recently closed on my refinance and promptly setup automatic payments. I had to call as the website would not let me setup automatic payments online. My first payment for Jan 2021 was processed on 1/4/2021 due to the holiday / weekend. The full payment amount was deducted from my bank account on 1/4/2021. However the payment didn’t apply to the Jan 2021 payment and instead is held under suspense!! I have called 4 times and each time I am told it will be resolved in a few hours. It’s been 2 days and I’m still waiting for the payment to apply! This is really frustrating! The other reviews on here are spot on! Really poor IT systems, business processes and compliance controls. To add to that ineffective customer service!! I regret refinancing with them and would avoid Better

I am deeply concerned about the internal accounting, controls and customer service provided by these two companies. I would advise anyone who will listen to stay away from these companies.

The Money Source (TMS)
Better.com

I refinanced my mortgage of roughly $285,000 with Better.com on Aug 28 2020. Servicing of the loan was transferred to The Money Source (TMS) which is Better.com's internal loan servicer.

I made two monthly payments (with extra principal) in addition to a few thousand dollars extra in principal payments to TMS. The loan was then transferred to Northpointe Bank loan servicing in November.

Due to what appears to be failed internal controls and accounting, TMS never transferred all of my loan payments to the new loan servicer. They failed to send over roughly $8,000 in payments.

I have called them 5 times regularly since this time (11/5, 11/23, 11/24, 12/23, 12/29) to correct the issue and each time they have told me that either the issue will correct itself eventually or that an open task is pending with an internal department to address the issue.

Once they recognized that the issue would not "correct itself" they finally opened an internal task which was due to complete by 12/22 (roughly a month out from when I called.) This date has come and gone without resolution or even a call back. I have been told on 4 of these calls that someone would call me back within 24-48 hours to provide an update. I have never received a call back.

1. If I had not tracked in detail the loan balance and payments made, it seems that TMS would have never discovered this issue, these funds would still be lost, and I would not have been aware of $8000 simply vanishing.

2. I seem to not have any recourse to address this issue with TMS. I have given the company ample time to address the issue and nothing has been done. They continue to kick the can down the road.

3. I have no control over the loan servicer chosen for my mortgage. I am deeply concerned about the internal accounting and controls in-place at Better.com and The Money Source (TMS). How many other individuals have lost thousands of dollars in payments without even knowing it?

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Update: Jan 8th

The money was finally recovered and sent to the new servicer. Unfortunately, while I made those payments in October for example, the funds were applied in January, so I've had to pay the interest on that money for 3 months, which seems unfair to me. What a mess. Stay away from Better.com and The Money Source.

Kristi is great; if the entire organization consisted of her, TMS would be first class.

Unfortunately, there is only one Kristi, and the customer support team at large has been woefully unhelpful. For some reason, every payment I have made on my mortgage has disappeared, as per the TMS mortgage balance shown on the website.

Bank records and TMS statements evidence that the payments have all been delivered to TMS. However, the current website balance shows that no payment has been made. Ever.

I emailed TMS for help . . . their response? A generic, form email response asking me to call customer service.

Come on, TMS. Do better.

TMS escrow failed to pay hazard insurance, nearly resulting in cancellation. They then failed to pay my property taxes. When they finally did pay (after a deliquency interest charge was assessed), they paid only the original amount, leaving the interest charge unpaid for their error.

Avoid TMS like you would avoid the plague. By far the worst customer service I've ever experienced by any company. My mortgage was transferred to another provider and TMS was legally obligated to transfer my paid funds within 60 days. Now after over 10 calls and over 80 days from mortgage transfer, my money still hasn't been transferred and no answer has been given as to why. I spoke with a supervisor who said my money eventually was transferred the morning she called me and then a week after that call, her claim was a lie. No money was transferred. So I called again and was told the money was transferred the week before that call with the supervisor. Someone obviously is lying to me and I still have no resolution as to what happened to my money and when this will actually be resolved.

TMS is the worst mortgage company I have ever dealt with. It takes multiple calls to resolve issues or answer questions and wait times each time are extremely long, usually close to an hour. On top of that, they FAILED to pay my property taxes. What's the point of an escrow account?

Recently refinanced my house to get a lower rate. The refi process through Better.com went smoothly and was well done.

However, I just sent my first mortgage payment. We always send extra to try to pay down the balance more quickly. But, they put the extra money into what they show as "Suspense". I called to find out why they hadn't applied it to principal and was told by the rep I spoke with that they hold it for a month before applying it to principal. I've never had a mortgage company do that before and I can't see any good reason for it. Meanwhile, I'm paying interest on a larger principal balance while they sit on my money. Not a huge difference (only about $500 so a month's interest isn't a lot) but it still shouldn't happen that way.

I don't know why this company has servicing rights. They did not do an escrow analysis when they acquired my mortgage and so they didn't pay out my insurance or my taxes like it was supposed to go down. they said sorry but the rep didn't really help me the first couple times and I ended up having to get more expensive homeowner's insurance and I had to pay my property taxes out of pocket just for TMS to pay them and then I had to communicate that to the county for a refund. What a joke....

I had an issue with The Money Source in which they reported me on my first payment after I refinanced my home with better.com due to a failure in processing the AUTO PAYMENT setup.

It did hit my credit score badly and I was not notified of it by any means.

After working a while with their support through tickets which seemed to be inconsistent in their communication and not getting anything done. I finally reached out to Kristi.Schleicher based on the others reviews I saw here in Trustpilot.

She was very responsive. And incredible professional, kind and efficient in solving my issue. After engaging her into my case, what was taking weeks of headache took her only 2 days to get it fixed and done.

Her support was superb.

If you got yourself stuck with their support I 100% advice you to contact her.

My advice to The Money Source is to replicate Kristi's professionalism via training to all the others working with customer support/experience.

Thanks Kristi!

Never had a bad experience and the online/mobile services are great as well as user friendly. Shout out to Charles L. That helped me understand and get the information I needed. He was incredibly kind, understanding, and professional. I hope to stay with TMS because of Reps like him! Thank you Charles for representing TMS in a positive, professional, and helpful way!

I was only with TMS a month but I can tell you their app and their level of customer service made me wish they didn't sell the loan. They are awesome to work with especially Kristi Schleicher.

Couldn't be happier. I was dragging 1 payment for almost 2 years. The only ding on my credit report but it was showing up every month. Spoke to a customer rep and was able to work out a modification. Payments current, no more late fees.
Having dealt with other carriers in the past never expected a carrier to be so understanding and helpful.
Highly recommend TMS.