Vault Mortgage Group

Loan Service

Two months ago I received notice that my landlords were selling our home. We made an offer that they accepted and we began the mortgage process.

My realtor suggested I work with Richmond Kuduo who is a Broker with Vault Mortgage Group.

From the start I was weary of his overt enthusiasm and his promising that he’d get me a loan without having looked at anything.

My husband and I had a short sale that was a few months of being two years.

Richmond knew all about our short sale and promised that it would not affect the loan.

Each time we spoke, he’d promise that things were great and there were no issues.

We planned for a 21 day escrow, and Richmond said he would alert me within 15 days of escrow if there were any issues.

At the end of 21 days Richmond stated he need an extension to get some more paperwork processed but that again, he promised things were going to go through.

At the end of the second extension, we get a call that in fact the loan was not going to go through because….of the short sale that we told him about the first day we spoke!

Richmond blamed the underwriter, my realtor, his co-workers and even me.

He absolved himself of all blame and claimed that he never promised me anything.

Things were so bad that his office manager had to get involved and even he realized that they had ZERO loan products that we could qualify for.

Not only were they leaving us out in the cold, the Sellers were nervous because Vault promised them that everything was fine also.

Vault never mentioned during the entire 31 days that they were working our loan that there were any issues.

Because of them I had to scramble to find a new lender within the 15 additional days that the Seller was giving me, and release my $10,000 deposit to the Seller to get those days.

Luckily I found a miracle worker rock star lender who MADE IT HAPPEN!

I am happy to say I now own the home and my new lender got me an FHA loan at a great rate. This is something that VAULT said COULD NOT HAPPEN!

I say this all to say that you need to be very weary of working with Vault, especially Richmond.

Is Vault Mortgage Group legit?
Vault Mortgage Group is not a legit business owner or provider. They are not aggressive towards their customer satisfaction and complaint grievance, and hence 3 consumer(s) was/were given a Vault Mortgage Group as a negative rating, and only a few left positive feedbacks.
Where is Vault Mortgage Group located?
Vault Mortgage Group is headquarted at 11845 W Olympic Blvd Ste 830 Los Angeles, CA 90064. We do not have any affiliation with the better business bureau or yelp reviews platform. You can contact Vault Mortgage Group by dialing (310) 481-8990 or visit their website
How much monetary loss is incurred by Vault Mortgage Group’s customers?
According to the reviews posted by Vault Mortgage Group’s customers, US $3221 was the total loss incurred, and hence the severity of the scam is high.

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3 Reviews on Vault Mortgage Group

  1. Awful experience!!

    Awful experience!! One problem after another, with this group. Suppose to close escrow 4 days later still waiting. Lots of excuses, and blaming others, but no answers and no action. Very unfortunate situation that could of been easily taken care of with accurate information and this group being better organized.

    As of now, this loan will not close today, as well David and this group won’t even respond and let anyone know what is going on. Seller, buyer, real estate agents, title, are all on hold by these people waiting for funds to close the loan and let the sellers and buyers move on. It’s very unfortunate that people are treated in this manner and put in these situations.

  2. Never Again

    David Garcia, Mortgage Banker, Vault Mortgage Group deserves 10 stars!!! He’s the absolute best! Look no further!!!! if you need a home loan and are looking for the very best of the best, stop right now and call David Garcia! With His expert knowledge of all the options, including those that no one else thinks of,

    combined with his willingness to work hard, and his amazing ability to communicate and walk us through each step of the way, David pulled off the “impossible” that no other loan specialist would even touch! Most lenders told us they couldn’t do it and that we would have to give it another year for the documentation to be what they needed to do our loan! Not David!!!

  3. BEWARE, don't work with Richmond, please!

    Don’t do business with Richmond Kodua. He tried to scam me in getting me a very high interest rate. He lied to me time and time again. I knew it from the start I couldn’t trust this guy. If you are reading this, watch out for Richmond. He doesn’t work in your best interest and only looks out for himself. BEWARE, don’t work with Richmond, please!

Reported Loss :3221 $
Severity of Scam :High
Reported by : Anonymous
Views :