GMAC Mortgage Ratings |
The following mortgage company reviews are submitted by actual users and do not represent the opinions or experiences of Mortgage-Ratings.com. Mortgage-Ratings.com is in no way affiliated with the brands, advertisers, merchants, or products discussed by its users. Consumer mortgage reviews and mortgage company ratings are informative for those wishing to use them, but they do not guarantee any level of performance by a merchant or other third party in any given transaction. |
 Terrible Customer Service |
| Personally, I feel that they lack in customer service. I have a loan with them and doubt I would ever consider GMAC for another loan. They are pretty slow when it comes to transactional time. I’ve spent hours on the phone with them trying to expedite paperwork and what not and its as if they don’t even care. There are other mortgage brokers out there who have great customer service. However, GMAC isn’t one of them. They’re way too corporate and I don’t think they really care about their customers. |
| Terrible |
In 2006, we were locked out of our online electronic services. We tried to re-set our password and fix it on our end without luck. Several phone calls were made to fix the situation and we repeatedly requested paper statements in the interim. (When you are signed up with their electronic services, you do not receive paper statements - only e-mails to view account online). Months went by, we continued to ask for help, no help was given and no paper statements were mailed. They totally ignored our requests. Then, GMAC had a problem with a payment in August of 2006. We were never notified. No phone calls were made. No letters were sent to our address. We’re still were not receiving statements of any kind and could not log in to view our statements. In the spring of 2007, we checked our credit report - only to find out that, for 10 consecutive months, we were considered 30 days late on all those payments! The August 2006 payment was not made and the missing payment rolled from August to September and kept rolling from one month to the next. We have made our payments every single month for years and continue to do so, but our credit shows otherwise. Countless phone calls were made and letters were sent to rectify the situation to have our credit report corrected. We paid the August payment, but they have refused to help. Hours upon hours were invested in this situation. The customer service reps (people in India reading off of screens) were very rude and told me it was my fault that the August payment was not made. The said that my bank should have notified us that the payment was not made and they are not responsible for notifying us. They literally refused to compromise or help in any way. I was willing to accept responsibility for the one August payment, but not for all 10 months! It is still unresolved and I refuse to give up on this. By the way, my husband worked for GM for years and we were considered "Family First" customers... yeah right. What a joke. I have read tons of horrible reviews on this company and so many people have had to go to lawyers for help. There are class action lawsuits ... it's overwhelming how many people have been railroaded. How can they continue to be in business? |
| An Absolute Nightmare |
We bought a home in July using GMAC as our mortgage company because we thought since we had our existing loan with them that it would make the process easier. WRONG! This was the worst home loan process we have ever gone through and it was our third time. I agree that there customer service is horrible and they are slow on getting things done. We would have not got anything done if we did not keep contacting them to keep things going. We started the loan process 6 weeks before our closing date and we still did not have everything taken care of on closing. They new the closing date from the start and still could not complete the job. We had like five or six different people handling our loan. It was someone different every time. The big thing that really sent us through the roof was when we got to closing and finished signing the papers the title company had not received the money for the loan to be able to pay the sellers. When they called GMAC the girl in closing that was taking care of everything had gone for the day. Needless to say that put us in an awkward position; We were to start moving in that Friday afternoon because we had to be out of our house so the buyers could start moving in. We were to be out that weekend and of course nothing could be done to resolve the situation until Monday morning. Luckily the sellers let us go ahead and move in on the stipulation that GMAC would wire the money Monday morning. Well of course it did not get there until late Monday afternoon. We still had problems with them after that trying to get our escrow account off the loan. we had signed a document that we did not want a escrow account. It took two weeks to get it taken care of. We went around and around with trying to get some sort of compensation for all the mess ups and there reply was that they completed the loan process on time. How can they say that when they did not deliver the money on time!! That was in July and now here it is the end of Oct. and we get this letter that we don't have wind and storm insurance on the house. They saw proof of insurance before closing and saw we did not have it or they should have. We also ask them when going through the process if we had to have it and they said not if the insurance company does not require it. I even have an email documenting this information. I did not go in to detail about everything that happen because this long enough as it is but it was an absolute nightmare. I will never use them again and will make all my friends and relatives do not either. |
| Absolutely the Worst |
Absolutely the worst. Get everything you send them registered. They managed to lower my credit score due to their own ineptitude. A different person every time you call, insulting tone of voice from people who barely speak English. I thought would go crazy. I have a three ring binder full of correspondence to these highway robbers. Even after I paid them off and got a new mortgage, they were still sending " late notices" on a closed account, and trying to take the money out of my now closed checking account. Yes, I actually had to close my checking account to keep their hands out of my pockets. I get a headache just thinking about them. They would make great terrorists. Run, don't walk from this dreadful company. |
| Predatory Lending at its Best |
GMAC mortgage is the worst customer service, Mortgage Company I have EVER had to deal with. Predatory lending at it's best. I have filed complaints with HUD and now have a complaint filed with the State of Michigan, Office of Financial Services who monitors their license. I was told that whatever I was doing to keep it up, seems a red flag goes up every time I call them now. Imagine that! I say put them out of business. |
 Give 'em 5 Stars |
WOW, many of these reveiws do NOT sound like the GMAC we used! I know that most times people who have a bad experience want to "voice" their concerns. When we are happy with our mortgage company we don't usually look for a place to go tell everyone. We recently sold our home, but had GMAC for years. We never once had a bad experience with them. I think the very worst I could come up with , would be that there were a couple of times that I had to wait on hold a little longer than I wanted to. They were always polite when we called with questions or wanted information. Note: it does help that we weren't being called or "harrased" for missed payments or something so that makes a big difference too. I would give GMAC at least 4 1/2 stars (if half isn't good, give 'em 5) |
| Quick and Painless |
I've been a loyal GMAC customer for the past 9 years and was quite dismayed by the number of negative reviews written about them on this site. With the assistance of Virginia Loan Officer, Jon Tsakis, I obtained my 1st mortgage with GMAC in 1998, a refinance in 2003, and a "quick and painless" home equity loan in 2007. Each transaction I've had with GMAC was handled in a professional and timely manner. On the few occasions I've contacted GMAC Customer Service, I found their representatives to be helpful and polite. Kudos to GMAC for having dedicated employees like Jon, who go the extra mile to assist customers even on their weekends off. In this day and age, those qualities are hard to find! Signed, A Happy GMAC Customer Waynesboro, Virginia |
| Avoid them at all costs |
GMAC Mortgage should be avoided at all costs. I would rather live in a box than live in a mansion that has anything to do with GMAC. I don’t anger easily and I'm a reasonable and patient person--- I’m in customer service myself---but the customer service, or should I say "lack of customer service" at GMAC is appalling. My experience on trying to call to CORRECT THEIR MISTAKE and get information on the status of my loan... GMAC--hello
Me---well, hang on... the person I just spoke with blindly transferred me to the wrong dept. as soon as I gave her my address and--
Me---ok, but I want to explain my situation before you transfer me...its 1234 main street any town USA and---
Hello (unintelligible) dept. Me---yes, I am trying to resolve a problem with my mortgage and I was transferred to----
(repeat above)
Believe it or not, after this hour of getting nowhere, I called back again---same process; only this time, I got transferred to someone’s voicemail who was on vacation!!!!! Unbelievable. What eventually happened? Nothing....oh except there lack of assistance on resolving THEIR mistake created a domino effect of financial problems that have perpetuated to the point OF RUINING MY LIFE. GMAC mortgage is terrible and should not be in business...do the world a favor and go into organized crime or something, but don’t call yourself a company...your nothing but a bunch of people who don’t care about anything.
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| Who’s on first at GMAC? |
I have never been late on a payment yet I am now receiving automated phone calls starting on the 2nd of the month asking me to call their collection department. When I call and they see that I am not late, they just dismiss it as a “courtesy call”. My payment is due on the 1st but not late until the 16th. I typically pay it between the 5th and the 10th. Everyday past the 1st I get an automated call. This makes me furious. My only recourse is to write a letter asking them to not contact me about my account at all. Some solution! I also have a problem with them paying my property taxes and insurance on time. I was actually canceled by my insurance company because of non-payment thanks to them. When I asked why they didn’t pay it, their response was “we show that this is not an impound account” which I guess means they don’t pay the taxes and insurance. Only problem is, it’s right there in my account history the many times they have paid my insurance and property taxes. Last year I assumed they were not going to pay my taxes so I mailed the county auditor a check and they mailed it back to me stating that my mortgage company had already paid it. Ahhhhhhhhhhhhhhhhhhhhhhhh!! Who’s on first at GMAC? |
| GMAC is a PREDATOR |
They bought out my loan 3 yrs ago, made lots of sweet promises that turned out to be nothing but lies. They have been incorrectly reporting to the various credit bureaus, and now I'm having even more trouble to get refinanced and also for them to clean up their messes and refund tens of thousands of dollars unjustly taken from my on time payments. You get nothing but a run around, or hold forever and then disconnected. They are the absolute worst company I have ever dealt with for anything, and they should do the world a favor and pay restitution and get out of the business of screwing customers. I don't understand how they can get away with their illegal practices of stealing from people. Isn't the government supposed to regulate lying crooks from staying in business |
| Get Ready to Hold |
| Trying to reach a customer service representative at GMAC is virtually impossible. On average, it takes about 45 minutes to be able to actually speak to someone. Typically what happens is once you finally reach a rep, they won’t have an answer for you and will again put you on hold. I wouldn’t mind waiting on hold if the person on the end of the line knew what they were doing, but with GMAC I don’t think they have a clue. Their website even contained a wrong phone number for a very long time and it took them months to fix that. GMAC has terrible customer service. I’d look elsewhere. |
| GMAC Sucks |
GMAC is probably one of the worst companies I have ever had to deal with. It took them over 4 months to close our mortgage. This started as they sent out 4 sets of loan documents that were not correct. Every time we would make a change, and send paperwork back they would send it back to us again with the wrong information. After finally closing with GMAC, I’m so irritated that I’m going to refinance through another lender. I’ve been trying to get a payoff amount but they can’t even figure out how much I owe them. I’m surprised they don’t have more complaints with the BBB. Their service is ridiculous. |
 They're okay |
I have had GMAC for a while now and honestly I don't think they're that bad. They have a ton of negative GMAC user ratings here, but they don't seem to bother me. I don't really deal with GMAC customer service that often so maybe that is why. They send me a bill, I pay the bill on time and they process it in a timely manner. I will admit that I wasn't too impressed when my home loan initially closed with GMAC, but after the closing I haven't had any major problems with them. |
| A Complete Nightmare |
GMAC mortgage has the worst customer service that I have EVER dealt with in my life. It takes a good hour on hold to speak to a loan agent. If you do reach someone in less than an hour, you can expect to be transferred 10 times before you reach someone who has a remote clue about you or your loan. It has been a complete nightmare to work GMAC |
| Worst Broker Ever |
| I’m a real estate investor and have dealt with various mortgage companies. I can tell you that GMAC Mortgage is the worst mortgage broker that I have ever dealt with in my entire life. I send them a payment, they lose it or misapply it, I spend hours on the phone working it out and then a month later the cycle repeats. What irritates me the most is that it isn’t even a live person who calls you. Instead this automated machine calls and leaves a message to call back, but they never tell you who to call or what department to call, or even what the call is about! From my experience, my only recommendation is to avoid GMAC mortgage. You’ll have much better luck with pretty much any other lender. |
| Grrrr. |
GMAC bought out my mortgage from my previous lender. My wife and I had purchased our home a few years ago and had a great experience...Until we got notice that GMAC was buying out our loan. They messed up the entire transition, charged us late fees for their own mistakes, and anytime you'd try to get a hold of them, it would take forever on hold just to reach a live human being. I wish I had never heard the name GMAC Mortgage.
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