I had a tough time pulling up their website (bad sign), and with a name like New England Regional Mortgage Company Corporation, I would have felt a lot better if you had met with them in person. You need to be really careful in the mortgage business. I would highly recommend at the very least getting a second or third opinion from a trusted referral. Someone you know personally who has recently had a good experience with a mortgage professional. A really good mortgage professional will be happy to walk you through the entire process, explain every step to you in detail and even look over what someone else is telling you to make sure it all looks legitimate. As well as a Realtor, I am also a Certified Residential Real Estate Appraiser who owns a small appraisal company here in MA. I've worked for literally HUNDREDS of mortgage professionals (I use that term loosely sometimes unfortunately) over the years and I wish I could say that they were all honest and reliable. But they're not. Ask your Realtor for a good recommendation. I've also included the website of my #1 go-to-guy at the bottom of this response. He's an honest, hard-working reliable guy who will tell you the straight truth about what he can do. He under-promises and over-delivers consistently for his clients.
I can't recommend enough getting a referral and meeting with someone IN PERSON before moving forward with any company! Good luck.
Mike and Tony have it right. If you can't trace the company immediately on the web, there is a good chance they are bogus. Credibility on the web is important but word of mouth is by far the most powerful. If you don't know anyone that has been a customer and you can't google them (especially your loan officer specifically) with a satisfactory result...RUN!!! There is too many bad stories out there of predatory and incompetent individuals using the mortgage market as their conduit. This industry is moving toward accountability and as a consumer you should be dealing with someone who embraces that.
First question for me is did you send them your paystubs, tax returns, assets, ss#, etc? If no, your letter may be just served in this weeks trash. If yes, you need to request a signature along with terms of the pre-approval. Also check with the Sectary of State office, NAMB.org (national association of mortgage brokers) and ask for referrals. You will find out real quick if they are approved. Check out the my blog site. It will direct you to real estate and mortgage professional in Mass.
Tony Grego - Indiana Mortgage Broker