Financing in Massachusetts>Question Details

Krisshir, Home Buyer in Massachusetts

hi i just want to ask if you have heard of new england regional mortgage company corporation. are they?

Asked by Krisshir, Massachusetts Wed Feb 20, 2008

reliable? we just got our pre approval letter in mail but there's no signature. we haven't met them in person yet. we just talked via phone then they processed it. need an advice

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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.
0 votes Thank Flag Link Thu Feb 21, 2008
I would suggest going with a company that is well established. If you are serious about searching for a home with a prequalified mortgage I would be very happy to work with you at Carlson Real Estate GMAC. We offer both real estate and mortgage services. Feel free to contact me at 508-934-3106
0 votes Thank Flag Link Tue Feb 26, 2008
From what I'm hearing from you Krisshir, that's enough for me to run the other way. There just shouldn't be that many questions and confusion at this point in the process (at any point, really!). Call Seth at Heritage Home Funding (508-480-8822). He will at the very least give you a solid back-up plan. Please tell him I sent you.
0 votes Thank Flag Link Thu Feb 21, 2008

Don't go to their office. My opinion is you will find it a waste of time. This is a serious venture you are taking and you need to be dealing with a seasoned, responsible professional!
Web Reference:
0 votes Thank Flag Link Thu Feb 21, 2008
Yah I actually called today since the loan officer according to their website who sent us the letter was supposed to be named Carolle but each time i'm calling there i can't talk to her, either she's always out or she's with a client. I'm puzzled because i always talk to her husband but the husband's name is not in the lists of loan officer in the website. And their letter that they sent us, it is not in the letterhead of the company plus no signature so I was just thinking if they are legitimate, i check the BBB they are listed there but it's just weird. Right now i'm trying to contact a different mortgage company so atleast we can have somebody just incase the New england screwed us. Should we still go to their office on Monday or just forget it? To all who replied thanks so much.
0 votes Thank Flag Link Thu Feb 21, 2008

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.
0 votes Thank Flag Link Thu Feb 21, 2008
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, (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.
Good Luck
Tony Grego - Indiana Mortgage Broker
0 votes Thank Flag Link Thu Feb 21, 2008
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