Is Nation Point Mortgage Company good to deal with?

Oh don't sign a deal with them. They're just liars. It's been a year that I've been on deal with them. They gave me an APR on my home mortgage but when reviewing the disclosure statements, I found that it was listed as 3% higher. When I asked them about it, they said they have already informed. Liars!! He hadn't told me and I would be the last one to consider such a high apr. And when I told him that I wanted to hear the truth, he said just go away and try for another lender. Oh, just save yourself from them.

It seems that previous poster had a bad experience with them but they have a AAA rating (which is the highest) from BBB which means that BBB does not have any doubts about company's reliability.

http://www.labbb.org/BBBWeb/Forms/Business/CompanyReportPage_Expository.aspx?CompanyID=13038791

This mortgage company is a division of First Franklin Financial Corporation which is an operating subsidiary of Merrill Lynch Bank & Trust Co., FSB. Merrill Lynch Bank & Trust Co. is a Federal Saving Bank.

In general they do not have bad reputation among borrowers but you should still ask your friends and neighbors about them before selecting any loan offer.

Also check on the rates they offer with what other companies quote to know if they are charging more or not.

Hi Brown,

Here, I agree with the first poster as one of my friend also had a similar kind of experience with the Nation Point mortgage company.

Once he had signed a contract with the realtor for a mobile home and he was told by the Nation Point mortgage company that he had been qualified for a loan. Later they denied him the loan prior to 14 days of closing.

He is in a fuss as the house in which he was staying on rent, had given him a 2 week notice as the landlord has found a new renter for it. Now, he is trying to find a mortgage company for a loan in these 14 days.

Larry,

I really feel sad about your friend. This is really cruel on the part of the mortgage company to deny him the loan at the last moment prior to closing. He has been given notice of 2 weeks to move out of the rented house. Now, he should talk and negotiate with the landlord as getting another mortgage is not easy and would surely require some more time. Taking a mortgage is a great financial decision and one cannot decide it within a short time. He needs to think of many considerations before going for it.

I am sure if your friend clearly talks about his condition to the landlord, he will surely listen.

I had mortgage from NationPoint 2 years ago, intially i was told & quoted for 30 yrs fixed. During loan approval they came back saying we cannot do 30 year fixed and only 2 year ARM can be done. I had no time to shop around then, agreed for 2 year ARM. After completion of 2 years in july 2007, APR was increased from 5.5 to 8.5. When i called saying it is too steep and cannot pay so much. Loan officer advised me to contact hardship dept.

Now, no one is returning my calls either.. Avoid them at all cost...

Hi Rocky,

You must have gone through a tough time indeed. But I don't understand why the hardship department is returning your calls. I mean if the company has asked you to contact them, it must have thought of taking some action such as doing a foreclosure or asking you to go for a loan modication or an alternative payment plan.

I shall suggest that you report to the loan officer stating that none of the guys are talking to you over the phone.

Feel free to share what the officer has to say. Perhaps i'll be able to tell you what can be done next.

Take Care and let's hope things will be better asap.

:D They did a great job in our case. I had some problems with a company I owned and had a bankruptcy. They really listened to our situation and came up with a mortgage plan that fit our needs.
I have been very pleased with Nations Point Mortgage.

That's cool Alan.

Well, it all comes down to one thing: getting the satisfaction of involving your money somewhere. So, if you are dealing with a company who's offering good services, then that's good news indeed.

i had 2 year arm also, they called me to remind me of it going into effect in november and checked to see if i would have a problem making payments, and offerred me an extension modification contract for the next 2 years (since i planned to refinance and am having a tough time doing so at this time. i am really a happy customer because my needs were anticipated and taken care of before i ran into problems.

Hi Mimi,

It's really good to hear that your needs has been addressed by the Nation Point Mortgage Company as they generally are known for their wrong activities. It seems that you are lucky enough to be benefited from them.

MiMi, thanks for sharing your experience about this company with us. It will help people looking to get a mortgage from them decide properly if this company's regulations are correct or not.

It will also help people know the problems that can arise later after taking a mortgage from them.

Do not deal with nation point, they will feed you bullcrap until 2 weeks to close and then inform you that your mortgage payment will actually be $500 more a month than they quoted while your house was being built. And anytime you ask they will say oh everything is great and it is all still the same.... NATIONPOINT SUCKS!!!!!!!!!!!!!!!!!!!!!!!

Hi Guest.

Welcome to the forum.

Thanks for sharing the info with the community. But cannot understand how can they increase the mortgage payments? Do you have any real estate agent to help you out?

Best of luck,
Larry

:) YES, THIS IS BEST COMPANY WITH PROFESSIONAL COURTESY TO WORK WITH. I BOUGHT MY HOUSE 30 YEAR FIXED RATE AND VERY HAPPY WHEN I DID THIS BACK IN 2005. MY PAYMENTS ARE EASY AND VERY HAPPY WITH THEM. I WOULD GO BACK.