RMG Fixed Mortgage Consumer Reviews

Mortgage broker for 20 years. Sent a transaction to RMG which took 6 days to provide a response & a further 5 days to rectify an error. Due to the delay, I submitted to another lender & received approval in 24 hours (higher rate). The RMG commitment was sent to the client, signed & returned. 14 days later, RMG advised they made an error & the interest rate was readjusted higher. This mistake was the fault of RMG & I asked whether they would provide some form of compensation for it. A NO response. The client agreed to the new terms. I had told them three weeks earlier I had another approval, even though they received the customer's accepted & signed commitment, RMG arbitrarily cancelled the mortgage transaction. No compensation to the client & no response to the complaint. They ignore complaints & don't deal with them. This is not a company with which you should do business.

If I could give zero stars, I would. Their customer service is terrible and their practices are sneaky. Not only do they give the runaround trying to set up a mortgage and constantly changing what they require, they sneak in practices that benefit them financially. They used our down payment as a bridge loan (fine), but then two days before closing they tell us they need that mortgage registered against the property. This means we have to pay the discharge fee of $380 twice (once on the current mortgage and the second to discharge the bridge loan). Our lawyer was the one who told us this. Now it's closing day and they are still giving our lawyer the runaround on outstanding items they say are due to the broker (confirmed nothing is outstanding with the broker). I would never recommend doing business with this lender.