Nationwide Mortgage Bankers is a company in Melville, New York that helps people get mortgages. They are based at 68 S Service Rd Suite #400, Melville, NY 11747, US, and their phone number is 833-700-8884.
It is a very shady and evil business that tries to take advantage of people who are easily fooled. They write fake reviews, take advantage of their workers, waste their client’s time, and do a lot more.
Before you do business with this company, read the Nationwide Mortgage Bankers reviews it is trying to suppress. The next review shows that this company’s marketing is shady and that it is trying to hide customer complaints:
Who Owns Nationwide Mortgage Bankers?
The Nationwide Mortgage Bankers CEO is Richard Steinberg. In August 2011, he started the business and has been running it ever since. Before joining this company, he was in charge of InterContinental Capital Group Inc. from 2005 to 2011.
On paper, Richard looks like a professional you can trust. But he lies all the time.
For example, he says that his employees think his company is a “Best Place to Work” even though his company has been accused of mistreating its employees a lot. Also, he doesn’t mind using shady marketing methods to sell his business.
In the next part of this review, I’ll talk about some of the shady marketing methods Nationwide Mortgage Bankers uses to trick people:
The unethical ways that Nationwide Mortgage Bankers market their services.
Can you trust a company that has to lie to get customers? You can’t. Because of this, Nationwide Mortgage Bankers is not a company you can trust. It uses many tricks to trick people into buying things.
Here are a few of the many shady ways it markets itself to trick customers:
Trying to trick customers with fake reviews
When a company gets a lot of customer feedback, it can do one of two things:
- Either deal with the problems and fix them, or try to hide them.
- Even though any honest business would use the first option, the second way is easier for scammers to use. The second choice is also used by Nationwide Mortgage lenders.
They post fake reviews on multiple sites to make it look like they are more trustworthy than they are. Most sites don’t have any protections for customers against fake positive reviews.
But Yelp has created sophisticated algorithms that make it easy to spot fake reviews. So, it can tell which reviews look fishy and which ones don’t.
This shows up the companies that post fake reviews to make themselves look better than they are.
Multiple reviews of Nationwide Mortgage Bankers have been “flagged” on their Yelp page. All of these reports are made up to trick people who are easy to fool.
Yelp has marked 12 reviews about Nationwide Mortgage Bankers as “not currently recommended” so far.
If they tried to post fake reviews on Yelp, it shouldn’t be a surprise if they do it again on other sites like Google and Glassdoor.
Having a BBB Accredited Profile to Enhance Credibility
This mortgage provider doesn’t just use fake reviews to sell itself; it also has a BBB profile. Most people think that a business gets BBB approval because it has good service and products, but that’s not true. Businesses can get BBB accreditation by giving BBB a big fee every year. In return, BBB gives the business a good page on its profile.
CNN Money had looked into this unethical way of selling for a long time. It found that BBB was giving A+ grades to scammers and companies that had paid millions of dollars in fines because they had “BBB accreditation.”
When a company has BBB approval, it has a lot of power over its BBB page. It can get rid of bad reviews, keep an A or A+ grade, and trick people.
BBB charges companies up to $10,000 a year to keep their approval. They would almost certainly get some good out of it.
This is a trick that isn’t just used by Nationwide Mortgage Bankers. Sprott Money is another name that comes to mind. The Canadian company that sells valuable metals has ripped off a lot of people.
Now that you know how bad this company is at tricking people, here are some reviews of Nationwide Mortgage Bankers.
High Turnover, Inexperienced Management, and Exploitation of Staff: Reviews by Employees
There are a lot of issues with Nationwide Mortgage Bankers online, where employees share their problems. Favoritism and bad treatment of staff are the things that people complain about the most. Also, it looks like the people in charge of NMB don’t know how to plan.
Many people on the staff have doubts about how the CEO and other top leaders of the company make decisions. Before you think about getting a job with Nationwide Mortgage Bankers, you should read these reviews:
“Company Doesn’t Live Up to Its Values”
The person who wrote the review says that NMB doesn’t have its act together. They say that they are the most organized group of managers you can find, but that is a complete lie.
The reviewer has seen managers at Nationwide Mortgage Bankers use students and recent graduates as low-paying workers for important IT jobs. The critic said that his job was set up so that the company wouldn’t have to pay a third party.
Also, most of his coworkers and bosses didn’t know much or anything at all about mortgages. He also saw that there was a lot of change at this company.
The writer says that you should be very wary of this company. People don’t stay at this company for long, which is a very big warning sign.
He says that management talks to people in a good way and not just ask about “feelings.”
No one else is important to Nationwide Mortgage Bankers except loan officers.
The reviewer above said that the bosses above him were great and that the company had a lot of different kinds of people working there.
But the pros don’t matter because the company fires more people than it promotes. The reviewer said that since he started this company, everything has been a mess.
Managers always said it wouldn’t always be like this, but they were lying. After a few months, managers fire people just because they are tired of them. Also, they fire people without giving them any notice. When they fire you, they don’t even let you finish your work day.
The reviewer says that it happened to him and 6 other people before him, both above and below him on the business ladder. The company also changed its boss four times in three months.
Nationwide Mortgage Bankers’ bosses expect their paid employees to work on weekends and holidays. You are also caught in the middle of office politics. When you work here, you never know if you’ll have a job tomorrow.
All of this suggests that NMB has a toxic work environment where the top management uses fear and uncertainty to take advantage of the staff every day.
No leads come from the company.
The person who wrote the review above works at Nationwide Mortgage Bankers as a Mortgage Loan Office. He says that the company looks good on the outside, but it lies to the people who give it money. They say they will give tips, but they don’t.
The reviewer says that the company’s leaders stop telling lies to get people to join.
Managers don’t support the team, and the environment is very unprofessional.
The person who wrote the review above says that this company doesn’t train its employees. So, you have to teach yourself everything.
The management doesn’t help the people who work for them. They say that you should stay away from this company because it was the least efficient business they had ever seen.
The critic says at the end of their review that NMB is a joke and that it’s only a matter of time before it dies.
Customer Reviews of Nationwide Mortgage Bankers You Must Know:
“The loan process was ruined by many delays.”
The person who wrote the review above started working with Nationwide Mortgage Bankers at the beginning of September. He was quickly pre-approved, so he chose to work with this company.
Then, the company put him in touch with a great loan broker. But the business didn’t care at all about the loan provider.
The reviewer and the loan broker worked together to find a home and start the deal. They told the reviewer that because of his loan, the whole process would take 30 to 45 days.
So, October 23 was set as his last day of work. Due to a mistake in the information, the close date was pushed back 10 days. But the whole thing took about 2 weeks and a few more days.
The company fired everyone who was working on the case of the reviewer. So he was left alone and couldn’t close the door. When the reviewer told the company about his concerns, the COO said, “We’ll look into this and let you know what we find.” But he never did.
At the end of his review, the person says that he would never suggest this company.
The staff at Nationwide Mortgage Bankers are not skilled and are rude.
Jennifer says that the person in charge of the processing at this business is rude and condescending. She asked the person who gave Jennifer’s gift if giving them the money would leave them with nothing. It’s a very impolite question.
Also, when Jennifer told her she was wrong, she said that she had to do it. But she wasn’t able to give the FHA rule for it.
Jennifer says that she had already given NMB the gift letter from the givers, a copy of the check, and copies of the withdrawal and deposit slips for the gift.
She also says that the whole process was hard and that the loan didn’t help, guide, explain, or answer quickly. They asked her more than once to send in the same papers.
The lender gave her access to a link, but her processor couldn’t get to it. So, she had to send her personal banking and financial papers by email.
Also, her paperwork was sent to more than one employee, but it wasn’t clear who they were or if she should be working with them.
Jennifer points out that NMB doesn’t know how to work with contractors or experts. People asked her for things that she didn’t have. Also, whenever she sent her files to underwriting, it took them between 5 and 7 days to get back to her.
Her closing date was Friday, but she didn’t get the final go-ahead until 9 pm on Wednesday. Also, her realtor had to call the broker and the processor at different phone numbers because they stopped taking calls. There’s no good reason for being so rude.
Company Wastes People’s Time Through Sheer Incompetence
Jana says that her family has been trying to refinance their home loan with this company for over 7 months. But for months, they have been given the runaround.
Since the beginning, Nationwide Mortgage Bankers have been lying to them. Also, the company has loan managers who are very bad at their jobs. So, they don’t suggest using this company for any kind of loan or lending process.
The staff at Nationwide Mortgage Bankers doesn’t know how to talk to a disabled veteran.
Jesse is a soldier with a disability, and he had a terrible time with NMB. After he closed on his VA Home Loan, the company charged him for an assessment. Also, he told his loan officer several times before closing that they needed to charge him before closing.
But they charged him 3–4 days after he closed on his house. Jesse says that his closing statement says that he already paid for his appraisal.
Also, the mortgage company tried to charge him an extra $300 at closing for some kind of fee. But they never said how much the fee was.
Jesse is glad that his lawyer saved him from having to pay that extra cost. But he says that you should never work with Nationwide Mortgage Bankers.
Nationwide Mortgage Bankers is unfair and dishonest
The person who wrote the above review had been using NMB for years, but when he tried to switch to another provider, he found that they were not at all helpful. They no longer take commissions, which is what they did when they first applied. So, they won’t give him the money anymore.
Also, they say he needs to pay £10k in early repayment fees because he isn’t taking the debt with him to the new house. The critic points out that he knew about the fees but had no plans to leave.
The company says that they won’t take bonuses now, even though they did 3 years ago. Also, the company won’t let him renew, but if he goes, they’ll charge him. The reviewer says that the customer service is very bad and that the prices are not fair.
The company makes banking the worst it has ever been.
Bill says that this mortgage company is a joke and that you should stay away from them at all costs. When they tried to get in touch with him, they couldn’t even spell his name right.
When Bill complained about Nationwide Mortgage Bankers online, the COO got in touch with him. He asked Bill for his contact information so they could talk about what had happened and figure out how to make things right.
On Friday night, Bill sent his information. The COO called Bill the next day and left a message. He made a point of saying that he would talk to Bill again on Monday.
At first, Bill thought that the company cared about its customers and valued them. But he was wrong.
It’s been 18 days since that Saturday call, and the company still hasn’t called him to talk about his problem. Bill says it was the worst time he had ever had with a bank.
Conclusion
Nationwide Mortgage Bankers doesn’t do a good job as a mortgage company or a place to work. The company has problems with bad management, a vague goal, and a lot of people leaving.
All of these problems lead to bad customer service and long wait times, which makes people angry. Worse still, the problems aren’t fixed by the people in charge of Nationwide Mortgage Bankers. Instead, it tries to trick people by buying memberships and writing fake reviews.
It wouldn’t be surprising if they added fake good reviews to this post as well.
Because of these things, you should avoid Nationwide Mortgage Bankers and look for another mortgage company.
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