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Mortgage Lending reviews in Wilmington

Real People ~ Real Reviews ~ Real Results

  • We were buying a new home and I sought mortgage bids from 3 companies for a 15 year mortgage, and 3 companies for a 30 year mortgage. Mark Anselmo from Trident responded quickly and efficiently, even calling me one time while he was finishing a family vacation. He said he knew customers had choices for their mortgages and he promised good service. His mortgage rate was very competitive, and since he knew I was getting other bids, he made concessions on the mortgage processing fee. He also did something that no one else did....he gave us the right, before settlement, to lock in on a lower rate that what we committed to, should the market shift downwards, while waiting for settlement. It could only shift down 25 basis points, or 1/4 of 1% but he made that offer. As fate would have it, the mortgage rates went up while waiting for settlement, so we never got the 25 basis points down, but we did lock at a very competitive rate.
    Mark has two people that work with him. Michelle Hoback...in the early stages....and Alina Rodriguez in the final stages. They were polite and efficient. But all 3 of them hid behind unseen "underwriters" who claimed they need more and more information....unending requests....more than 50 documents before it was done. And the requests bordered on the absurd that had nothing to do with the credit worthiness of the loan. They blamed it all on the bank scandals and problems in the financial world that required much more intense underwriting. It was very unpleasant.  
     In the end, one of the most important things a mortgage company can do is meet deadlines, first the deadline to have a mortgage approval by a certain date, consistent with the sales agreement, and doing everything needed for settlement date. In my opinion, Trident did poorly on both. Mark started telling the real estate agent about a week before the mortgage approval commitment date, that he might not have the approval in time. The approval date was a Friday and at 5 p.m. on that date, we had no mortgage approval. The real estate agent called me and told me we had to modify the sales agreement. After 6 p.m. that date, after the real estate agent was appropriately assertive, Trident came through with the approval, after causing a lot of unnecessary anxiety. They claimed to have sent the approval around 3 p.m. via email,  but everyone who was on that email did not receive it. For settlement, we were one business day before settlement, when the settlement lawyer's office contacted me at 2 p.m. to share that he had absolutely nothing from the Trident for settlement the next business day. Another round of grief.  It is obvious that Trident works on deadlines....and leaves the customers hanging to the very last minute. Trident did make the settlement deadline, but only in the final hours. Trident preaches good customer service, but what we got was a lot of ugly and poking the customer around with a lot of odd ball and last minute requests. There was nothing smooth about it at all.
    But the biggest surprise came at settlement when the settlement lawyer and I were talking about when the first mortgage payment was due, and where to send it. I said I would just set it up with the bank for automatic withdrawals each month....and the lawyer said ....don't do that....Trident is going to sell the mortgage quickly....and you better wait and see who to send the check to. Sure enough, after I made one mortgage payment, Trident sold the mortgage to someone else.....and then it hit me....that they had no incentive to want to have a long term business relationship with the customer, because in 30 days, they are going to sell the mortgage. 
    What is the bottom line here....the whole process was rather unpleasant....a lot more than it had to be. Could all mortgage companies be subject to the same crazy and ridiculous underwriting....maybe....maybe not. Someone compared it to preparing for a colonoscopy. But does a mortgage company have the right to be so cold to leave the customer hanging on important deadline dates. Absolutely not. 
    If I had to do it all over again, would I do it differently? I would certainly consider it. I would ask if the mortgage is going to be sold. I would see if a local bank would take the mortgage. One of the other bidders  for the loan was a local bank that has a very good reputation. I think it is possible that a local bank would want a long term business relationship with you, and would likely treat you better in this challenging process. The mortgage process is not a customer friendly process; buckle your seatbelt if you are getting ready to apply for a mortgage. 
    - Paul K.
  • I am currently going through the process of new construction for a home.  We were offered incentives if we agreed to go through their mortgage company first named NVR ( Not Very Reliable).  The loan officer called us on May 22nd and set up an appointment to meet us at our current home to start the process on May 23rd at 7pm.  He arrived 30 minutes late with paperwork to sign and we already had copies ready for him regarding bank statements, pay stubs, tax returns, etc.  After signing several pieces of paper, I asked him when we would get a decision about our mortgage and he said no more than 15 days.  Now, I understand banks have to be extra cautious approving new loans but we did not get a decision until July 3rd.  I asked him just to keep in touch with us and the only time he called me was on June 21st to state that they needed more paperwork of information we already gave him on May 23rd.  Somehow, paperwork vanishes at this company.  He said he would call back the next day and we would have an answer.  Now, I called the very next morning to confirm what he needed faxed over and cell phone went right to voice mail stating he was going on vacation from June 22nd to July 2nd.  He didn't mention the night before he was going on vacation so I had to call his manager and attempted to find out exactly what paperwork was needed for the underwriter to either approve or decline this loan.  On July 6th, I received an approval letter with conditions but I knew my wife and I couldn't meet them so I called my loan officer again that day and he told me not to worry about it and it would be taken care on July 9th.  That day, I called his manager again and she said that these conditions can't be changed so it was declined.  I am not upset I was declined but I can't believe the lack of communication this company had regarding one of the most important transactions in a person's life.  I am happy to say we have been approved from another company and everything is going forward as planned.
    - Douglas B.
  • In the meantime, I paid taxes on money that I didn’t make. I think the IRS and the banking commission needs to see why they give taxpayers the 10-99 showing interest amounts that are false. The actual interest was $1008, not $1717. I think consumers should watch what they are doing with Wells Fargo.
    - Alice G.
  • Chase Home Finance was assigned my mortgage a few months after I bought my home in March of 2006. In late 2007, I lost my job (And income) and started to dip into retirement accounts, took on roommates, cut back on expenses, etc. just to stay afloat with my mortgage. I ended up having to lose the roommates in December 2008 in preparation for my marriage, for obvious reasons. By that time, I was now employed, but making only about 50% of my previous salary. I started getting behind on my mortgage and luckily, President Obama's Making Home Affordable program came at the right time, as Chase had started mentioning foreclosure. Let me tell you, the whole process of dealing with Chase during the application process and transition into a loan modification was the most awful experience, customer service-wise I have ever witnessed. Firstly, I understand that the home market situation and sheer numbers of people applying for this program were unprecedented. I understand that the mechanics of how the program worked and such were not even fully understood by the mortgage companies, so the information they could provide to customers on the status of the modifications was dicey at best. I understand all of those things and I sympathize with the employees and the corporate entity. That being said, here is my experience. Its all 100% true, no puffery and no slander included. Dealing with customer service at Chase is akin to having teeth pulled with no anesthesia by a brute man who hasn't bathed, nor has he disinfected his instruments. He has you chained to the chair, all the while reminding you that he is doing you a favor by even gracing you with his presence, and if it weren't for him,you'd be thrown out to the street with nary a thought or care. A typical call to Chase Home Finance invariably means a minimum of 30 minutes of your time. That's if you are lucky, and arent't "accidentally disconnected" or "routed to the wrong department" by the phone system. Be sure to take notes of when you called, how long you spent on hold, who you spoke with, which department they work in, and the details of each call, for if you do not, there will often exist no record of any of your dealings, or the eventual outcome of such. Be sure that you DO NOT try and make a phone payment during your loan modification trial payment, even an operator-assisted phone payment. When I did that, the operator was unaware that the computer system did not see that I was on a trial program. The $1000 payment I authorized Chase to debit from my checking account turned into a $1550 payment (Which was my normal, payment due). Much to my surprise at a baseball game, when I went to use the ATM to withrdaw some case to buy a 2 drinks and hotdogs, my account was overdrawn!!! Why? Chase took more than they were authorized. I spent hours and hours on the phone with unsympathetic operator after unsympathetic operator. Asking to be transferred to their supervisors is like asking to see the "Man behind the curtain" in "The Wizard of Oz". I did manage to FINALLy speak to one dear lady, who gave me the contact information for the head of the FastPay research department. After having to prvide bank-issued documents from my bank indicating the unauthorized debit, and paying to fax the information to Chase, the money and bank overdraft fees were finally returned. The process took nearly two weeks. Just after that, my three-month trial period was set to expire. A previos call to Chase had reulted in an analyst telling me that because of variious delays, If I hadn't heard any communications by the end of August 2009, to just "go ahead and make a 4th trial payment", which I did. When the money was still in my bank account three weeks after making the payment, I started getting nervous. I received communications from Chase that asked for the same financial information I had previously supplied them with, but each time they made these requests, I sent the information as soon as possible. The alternative was foreclosure. I was bound with no choice but to comply. Back to the money still sitting in my account- I made several calls to Chase. Again, each call being at least 30 minutes, most of them on hour or more. I was actually spoken to very rudely, denied the right to speak with a manager, received conflicting (totally opposite information) over 2 separate days. And finally, hung up on by an operator. I was appalled and aghast. My loan mod did eventually work out, but not without sleepless nights and headaches that could have been prevented. All the while, Chase would never let me forget they were doing me a favor, and that I needed to jump through EVERY hoop they put in front of me. I can honestly tell you, my fellow Angie's Listers, that I WILL NEVER deal with Chase again, if the choice is up to me. I ask that you consider my dealings before you decide to use them. Thanks for reading.
    - Richard B.
  • Inexperienced,a lot,a lot a lot of hidden cost. Good faith estimate did not match the final mortgage percentage. This company does not disclose cost. Spent over an hour before settle to correct flaws on mortgage agreement. Final percentage was 1 percent higher than good faith estimate.
    - AJ J.
  • It went very well. They were helpful and personal.
    - Laverne S.
  • I WENT TO SETTLEMENT WITHIN 2 WEEKS, RECEIVED THE BEST SERVICE, & HAVE ALREADY REFERRED SEVERAL PEOPLE TO THEM. I WILL USE THEM AGAIN MYSELF IN THE FUTURE.
    - AMY D.
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Mortgage Brokers in Wilmington

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