Complaints

This profile includes complaints for Nationwide Mortgage Bankers, Inc.'s headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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Nationwide Mortgage Bankers, Inc. has 3 locations, listed below.

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  Nationwide Mortgage Bankers, Inc.

  3 Huntington Quadrangle Ste 403N Melville, NY 11747

  
• 

  Nationwide Mortgage Bankers, Inc.

  68 S Service Rd Ste 400 Melville, NY 11747-2350

  
• 

  Nationwide Mortgage Bankers, Inc.

  460 Freedom Plains Rd Stop 1 Suite 1 Poughkeepsie, NY 12603-2694

  

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:05/15/2023

  Type:Billing Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I had bought a house, ************************************************************ in October 2021 and had got loan from Nationwide Mortgage Bankers. All my payments are excellent with auto pay.On March 1st this year, 2023, Nationwide Mortgage Bankers transferred my Loan to Service Mac LLC. With effect from April, my auto pay goes to Service Mac LLC. But on my credit report, it still shows a loan from NATIONWIDE MORTGAGE BA amounting to $474,063, and an amount of $472,283 from SERVICEMAC, LLC. Thus showing a double loan, total amounting to $945,346. This has caused my credit score to go down by 22 points!I have called Experian, Nationwide Mortgage and Service Mac LLC many times and also sent them emails about this double loan showing on my credit and they keep saying it will be taken off but even as of today, May 12th 2023, the loan from Nationwide Mortgage Bankers has not been removed.Please get involved and help me.Thank you *****************************

  

  Business Response

  Date: 05/23/2023

  Nationwide Mortgage servicing department has reached out to the borrower and we are working to make sure that all trade lines are properly reported and to achieve full customer satisfaction. 

  Customer Answer

  Date: 05/24/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.
  
  Sincerely,
  
  ***********************
  
  
  
   
  
  

• Initial Complaint

  Date:04/17/2023

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  We took out a mortgage 3/2022 to purchase a house. We were using the funds from the sale of our house to use for the down payment towards our new house ($100k). The bank knew this from the get go. We were gifted $20k to use as the initial down payment when contracts were signed. The bank would not allow this to be used towards the loan since it was a gift. They only calculated $80k down payment in stead of $100k. This caused ** to not have 20% equity and need PMI. I found out when we did our taxes this year that the $20k should have been calculated in. This caused ** to have a loan $20k higher, pay more in interest and pay the unnecessary pmi. I fully believe the are practicing unethical business and lying so they can make more money.

  

  Business Response

  Date: 05/01/2023

  We reached out to the consumer and explained the mechanics and workings of the loan product.  We all funds, including the gift funds referenced were appropriately applied.  We believe the reason for the complaint was due to a need for ** to educate the consumer on the loan product, and we did so in a direct communication to them.  We remain available should there be a need for further follow up and believe the issue is hereby resolved.

  Customer Answer

  Date: 05/02/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  They emailed me a break down of our closing disclosure and said we did not qualify for a conventional mortgage, only an fha.   I already reviewed this item and emailed the business back explaining what their loan officer explained to me. Our purchase price was $449 and we had a  $100k down payment and closing costs were being paid out of pocket so our loan was to be $349k. When we received our preliminary closing disclosure the loan amount was $378k our loan officer said the $20k was being applied to the back end of the closing. I asked if the loan amount would decrease to $349k at closing and was told no. It was then explained that since we did not have enough equity that we would have to pay *** for 2 years. The final disclose has ** paying *** for 11 years. On paper it only adds up to ** paying about a  $80k down payment and closing closts at closing (which we did-we never paid the full $100k) Our loan officer never explained to ** that we only qualified for fha since everything initially went through as conventional. She also lied about the length of time of time we would be paying the **** I stand by this complaint and still ask that the mortgage payment be revised to remove the *** since they have lied throughout the process.

   

   

   

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

  
  Sincerely,
  
  ***************************************
  
  
  
  
   
  

  

  Business Response

  Date: 05/12/2023

  The consumer had a misunderstanding as to how the loan product works.  We reeducated the consumer on the product.  We are unable to share any further details as it involves non public consumer information.  We also extended an invitation for the consumer to reach ** directly with further concerns.

• Initial Complaint

  Date:11/10/2022

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  The bank is constantly disregarding my financial and credit wellbeing. They are in the practice of mis application of funds. I am not sure at this point if its intentional to make more money on their end or honest mistake, but honest mistakes don't happen over and over. This issue has to do with escrow shortage. In the past I've paid of an escrow shortage in July of ***************************************************************************************************************** the loan. this has also caused my monthly payment to be incorrect, usually higher cause the included escrow shortage. this would roll over month after month. The original issue took months to clear up. The problem now is that the escrow is short again and not surprisingly i've paid prior to the date clearing up the shortage and they applied it how they saw fit. they disregarded my allocation and not surprisingly gave me another monthly mortgage statement higher than it should be. i pay it because i am in fear of my credit being screwed up. I work hard for this not to happen, but this company doesn't care enough about its customers to solve this issue. I spoke with a **** ****** who told me the company policy with check payments is anything extra goes to principal. This is absurd, i clearly put on the paper statement tear off where the money is allocated too. This is going to end up s******* up my loan or credit history. this company should not be in the business of mortgage loans. I pay in full and on time but to no avail. please look into the company practices as I believe it to an issue not just with me but widespread. Corruption?

  

  Business Response

  Date: 12/09/2022

  We investigated the issue and educated the consumer better on the product and assisted them in obtaining their intended goals.  The consumer was contacted directly with this information, much of which is private in nature as it involves personal financial information.  Accordingly, we believe the matter is resolved at this time.