NATIONWIDE MORTGAGE CONCEPT VS NATIONAL CITY MORTGAGE

kisor · Joined: 14 Feb 2009 Posts: 1 2.08 Dollars($)

I am planning to do a VA Streamline Refi to lower my interest rate. I trying to decide if I should go with my current mortgage company, National City Mortgage at 4.75% or one that I received an offer in the mail, and susequently contacted, Nationwide Mortgage Concepts, who is offering 4.5%. I have GFEs from both and the bottom line is that there are less fees with National City, but with the slightly higher interest rate it makes my monthly payment about $20 more ($6400 over 30yrs). I have been with National City for over 5 years and have never had an issue.

For some reason I am skeptical about Nationwide. Maybe because of the orginal letter in the mail (get them all the time), combined with the guy seems somewhat desparate (calls several times a day, once fairly late at night 9:00pm). They also have a BBB Rating of "F". The loan officer said that is due to the company not paying dues required to clear complaints. It is true they only had 3 complaints in 36months. I cannot find anyone who is familiar with Nationwide or can give me any info about them.

My thoughts are that I should stick with a company that I know for $20/month, but I would deeply appreciate any insight, information or suggestions. I really want to get the ball rolling on Monday.

Thanks! Dan

gmakerley · Posted: Sat Feb 14, 2009 7:31 am Post subject:

kisor i think you have already made a decision and you simply want validation of that decision. if you are comfortable with national city and the loan officer you are dealing with, then stick with it.

i agree that the incessant phone calls seem to make the other company rather desperate, and i would have to take the loan officer's opinion about the payment of dues causing a poor bbb rating with a grain (or more) of salt.

follow your gut.

Guest

I work here at Nationwide. When you have higher closing costs, it generally is going to mean your rate is being bought down and each point which buys the rate down permanently is 1% of your loan amount. In the long run you are saving much more than you bargained for, and paying off the loan quicker is much more productive and beneficial than paying a little less in closing costs and having the higher rate for teh full loan term. As far as the "incessant calls", or some may look at fewer calls as a lack of customer service is boarderline biased comment. Yes, it is best to get people in the afternoon or evenings, and this industry is mostly commission only and very competitive- so I can understand this particular L.O.'s motives. He is a diligent loan officer with wonderful follow up skills. If it was too much--simply tell him "hey back off a little" I personally work on salary and a per unit bonus. I have the benefit of processing my loans and I know everything every minute about what is going on with them. We do not control the closing costs at all. They are based on what the rate costs us, and the attorny's fees which are third party--I will say our attorneys are the best out there and do not foul up as readlily as many I have used over a period of 15 years. We are also required to make a certian amount of recorded calls each day to the numbers that are already in our databases and we are monitored and recorded for quality service. I think it may have been a mistake to make an uneducated decision about Nationwide from three people as Dan said he read on the BBB's website, (and actually it is only 2 complaints that were both retracted from tha BBB) and that was over thousands of loans done in over 47 states? You can't always make everyone happy. I persoanly love working here and have 15 years of experience managing Loan Officers that are shams, uneducated, and cut throat who have displayed a vast amount of MIA activity as far as customer loyalty and service goes.

Guest

I do not know where Dan got the BBB rating for us, check again as you will see it is an "A" rating.

bensonclive · Joined: 16 Aug 2009 Posts: 91 -0.12 Dollars($)

I checked on BBB website abouty your company. they have rated you 'A' grade.
I hope it will build your credentials.

Guest

is their some guy name dan taylor at this office i lost info. call us 4236087666

Guest

hello we got a singelwide mfh home on too 2 big lots i been taling too dan taylor in georia dan said can help us ok we like too do is refinceing lower payment get cash out about 13000 lower our % rate please call 4236087666 i lost dan info.

Guest

my payment is 493 %rate 12 can you do way better than that we spoke too dan taylor out of georgia ok we got mfh home the year is 2002 singelwide ok we own wait now 38000 i lost dan info. thanks you

adonis · Posted: Fri Oct 09, 2009 8:58 pm Post subject:

Hi eric anna holton,

This is MortgageFit community and not the official website of Nationwide Mortgage. You need to contact Nationwide and get the information related to Dan Taylor. You can get the contact details of Nationwide from the given page:
"http://www.nationwide.com/contact-us.jsp"

thewretched02 · Joined: 23 Jun 2009 Posts: 115 23.90 Dollars($)

Hi eric anna,

I didn't really understand your post, the numbers seem a bit out of wack - any chance you could clarrify them?

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