• Report: #210543

Complaint Review: National Fidelity Mortgage ,NFM Lending

  • Submitted: Tue, September 12, 2006
  • Updated: Fri, January 25, 2013

  • Reported By:Baltimore Maryland
National Fidelity Mortgage ,NFM Lending
505 Prosperity Drive Linthicum, Maryland U.S.A.

National Fidelity Mortgage Or NFM Lending High Fees and Bad Programs/Bad sales practices Linthicum Maryland

*UPDATE Employee: NFM, Inc. Strives To Provide Excellent Service

*Consumer Comment: STAY AWAY AT ALL COSTS FROM NFM

*UPDATE Employee: NFM, Inc. Response

*UPDATE Employee: NFM, Inc. Response

*UPDATE Employee: NFM, Inc. Response

*UPDATE Employee: NFM, Inc. Response

*Author of original report: THERE IS A LOT MORE!!

*UPDATE EX-employee responds: Add the correction for the record

*UPDATE EX-employee responds: There is more to the high fees try a little bit of deception to go

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National Fidelity Mortgage, also known as NFM Lending should be avoided by all prospective mortgage clients. To begin with the fees they charge are way too high and the loan officers only get paid if they increase the already obnoxious "junk fees". They will tell you they are full salaried employees. They are not, they earn commissions off of fees they charge their borrowers. That is the only way they get paid.

You can find any mortgage they offer at a much lower price at more reputable lenders. Always inform yourself of the perils of the OPTION ARM or MTA product they offer. The loan is a disaster for most people who accept it. You may have lower monthly payments but the rate they are offering is very short term and is not an intereste rate. It is a payment rate. Every payment you make increases the balance on your mortgage instead of decreasing your balance. Eventually, your payments will be much higher than you probably pay right now. Don't take this loan program.

If you are offered a "credit repair program", don't believe it. There is no such thing. Any program will improve your credit if you make your payments on time. Take any paperwork you receive from NFM to your attorny. Let them look it over. You will find you are paying way too much for a program that probably doesn't make sense for you or your family.

Do some research on the company and the principal. You will find some interesting reading on the internet. Realize who you are doing business with. I was fooled by them, don't do the same thing I did and accept their word at face value. There is no value in their words. Avoid NFM - National Fidelity Mortgage. You can get the same programs for much less at other companies.

Apparently, they have branches throughout the mid-atlantic states. They may operate differently in those offices, but the office in Linthicum, MD (corporate headquarters) will rip you off if you do not do your research. Let a local, more honest lender give you a counter offer on anything NFM offers you. You will find the fees are much less and you will be infromed of what you are getting ready to sign. REMEMBER - THE ONLY WAY THE LOAN OFFICER GETS PAID AT NFM IS TO RIP YOU OFF!!!

Laura
Baltimore, Maryland
U.S.A.

This report was posted on Ripoff Report on 09/12/2006 08:09 AM and is a permanent record located here: http://www.ripoffreport.com/r/National-Fidelity-Mortgage-NFM-Lending/Linthicum-Maryland/National-Fidelity-Mortgage-Or-NFM-Lending-High-Fees-and-Bad-ProgramsBad-sales-practices-L-210543. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 9Consumer 0Employee/Owner
Updates & Rebuttals

#1 UPDATE Employee

NFM, Inc. Strives To Provide Excellent Service

AUTHOR: Bernadette - (U.S.A.)

NFM, Inc. has been in business for the past 15 years.  We pride ourselves on being responsive and professional in all aspects of our business. We are dedicated to solving problems and answering questions/concerns quickly and in a respectful manner.  As soon as we become aware of a problem, we immediately research the situation and take the appropriate steps to try to find a resolution. We handle each situation with the same level of importance; we aim to give each client excellent service.

 If you have a problem with or question about NFM, Inc. or one of our employees, please  contact our corporate office directly. This can be done by emailing us at  info@nfmlending.com or calling our toll free number, 888-233-0092.

NFM, Inc. is a mortgage lending company currently licensed in twenty-five states in the U.S. The company was founded in Baltimore in 1998. They attribute their success in the mortgage industry to heir steadfast commitment to their customers and the community. NFM, Inc. has firmly planted itself in the national home loan, marketplace as Americas Common Sense Lender.  In 2012 NFM, Inc. was awarded the honor of being one of the Top Workplaces in 2012 by the Baltimore Sun. To learn more about the company please call us at (888)-233-0092 or go to www.nfmlending.com.

 
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#2 Consumer Comment

STAY AWAY AT ALL COSTS FROM NFM

AUTHOR: STEVE DANNEMAN - (United States of America)

My elderly mother recieved an unsolicited phone call from someone named David Silverman offering her a loan that she would need to help with new state income and property taxes.  My mother is 84 and on the national DNC list, but somehow this company NFM thought it was ok to call her and attempt to get financial information from her in order to do a mortgage
for her which she did not need. 

After I did some homework I was astounded to see how bad this is and what this company appears to be doing.  After a simple google of NFM and Dave Silverman I found that they are aggressivly marketing to elderly people and the poor and
creating a false sense of need for a mortagge.  See this link:

http://800notes.com/Phone.aspx/1-800-214-5340

Then I decided to call this Dave Silverman back and it appears he is never around and always out of the office.  Well that came as no suprise since I saw other ripoff reports claiming he is always traveling and doing things in casinos.  I also see there are a slue of lawsuits from former employees for not paying them wages, a former FTC lawsuit in 1995, 3 different states banking department fines all from 2010-2012, and a slue of negative press on the company and ceo with gamlbing and hiring felons.   i would strongly advise anyone to report this company to the FTC.  I have posted all the information I could find here so that if you are considering a mortgage with nfm, you should think otherwise.  These are all FACTS not opinions

http://www.nmlsconsumeraccess.org/EntityDetails.aspx/Artifact/Agreement.pdf?q=102336-202124

http://www.nmlsconsumeraccess.org/EntityDetails.aspx/Artifact/Agreement.pdf?q=101754-201483

http://www.dfs.ny.gov/banking/ea110411.pdf

http://www.ftc.gov/opa/1995/11/tel2.shtm
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#3 UPDATE Employee

NFM, Inc. Response

AUTHOR: Katie - (U.S.A.)

NFM, Inc. (NFM Lending or National Fidelity Mortgage, as referred to in previous postings) was founded in 1998 and has proudly provided billions of dollars in mortgages for over 15,000 satisfied consumers. For NFM, Inc. and its dedicated and hardworking employees, providing homeowners and potential homeowners the best quality service is now, and has always been, paramount. This is evidenced by the fact that in all our years of business, we have never had a consumer complaint filed on this or any other website.

NFM Inc.'s mission is to assist our clients in obtaining financial security by providing exemplary service through mortgage solutions. That mission is supported by our values:

Customer Service - This is our primary value. Our customers are paramount in this organization. Above everything else, we want to be there for our clients. We want to move their loan through the process as expeditiously as possible, without sacrificing the quality of the loan.

Ethics and Integrity When providing services to our customers and our employees, we are committed to the highest standards of honesty, integrity, and ethics. We strive to ensure our management team, employees, and business associates share our dedication.

Professionalism We want our team members to be professional, to have the willingness to work hard, uphold high standards, and always strive to identify the critical needs of our clients.

Commitment Our staff is dedicated to ensuring the highest quality loan product, and to deliver it as quickly and efficiently as possible.

Teamwork We strive to fill our work environment with encouragement and teamwork, building a positive workplace that rewards both commitment and performance.

NFM, Inc.'s mission, values, competence, experience and integrity is consistent with the interests of the public and our federal and state regulators. NFM, Inc. and its management regularly are subject to examination by our federal and state regulators and to quality assurance measures by our consumers, who consistently have confirmed that NFM, Inc. is a sound company. Fueled by our commitment, NFM, Inc. continues to invest in improving our customers' experience and industry best practices to ensure that we not only maintain those qualities, but also exceed expectations.

NFM, Inc. values our reputation, and we take consumer complaints very seriously. We are thankful that we have never had to respond to a personal attack such as the one posted to this website.

NFM, Inc. welcomes any inquiries regarding our company. Please contact us directly at info@nfmlending.com.
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#4 UPDATE Employee

NFM, Inc. Response

AUTHOR: Katie - (U.S.A.)

NFM, Inc. (NFM Lending or National Fidelity Mortgage, as referred to in previous postings) was founded in 1998 and has proudly provided billions of dollars in mortgages for over 15,000 satisfied consumers. For NFM, Inc. and its dedicated and hardworking employees, providing homeowners and potential homeowners the best quality service is now, and has always been, paramount. This is evidenced by the fact that in all our years of business, we have never had a consumer complaint filed on this or any other website.

NFM Inc.'s mission is to assist our clients in obtaining financial security by providing exemplary service through mortgage solutions. That mission is supported by our values:

Customer Service - This is our primary value. Our customers are paramount in this organization. Above everything else, we want to be there for our clients. We want to move their loan through the process as expeditiously as possible, without sacrificing the quality of the loan.

Ethics and Integrity When providing services to our customers and our employees, we are committed to the highest standards of honesty, integrity, and ethics. We strive to ensure our management team, employees, and business associates share our dedication.

Professionalism We want our team members to be professional, to have the willingness to work hard, uphold high standards, and always strive to identify the critical needs of our clients.

Commitment Our staff is dedicated to ensuring the highest quality loan product, and to deliver it as quickly and efficiently as possible.

Teamwork We strive to fill our work environment with encouragement and teamwork, building a positive workplace that rewards both commitment and performance.

NFM, Inc.'s mission, values, competence, experience and integrity is consistent with the interests of the public and our federal and state regulators. NFM, Inc. and its management regularly are subject to examination by our federal and state regulators and to quality assurance measures by our consumers, who consistently have confirmed that NFM, Inc. is a sound company. Fueled by our commitment, NFM, Inc. continues to invest in improving our customers' experience and industry best practices to ensure that we not only maintain those qualities, but also exceed expectations.

NFM, Inc. values our reputation, and we take consumer complaints very seriously. We are thankful that we have never had to respond to a personal attack such as the one posted to this website.

NFM, Inc. welcomes any inquiries regarding our company. Please contact us directly at info@nfmlending.com.
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#5 UPDATE Employee

NFM, Inc. Response

AUTHOR: Katie - (U.S.A.)

NFM, Inc. (NFM Lending or National Fidelity Mortgage, as referred to in previous postings) was founded in 1998 and has proudly provided billions of dollars in mortgages for over 15,000 satisfied consumers. For NFM, Inc. and its dedicated and hardworking employees, providing homeowners and potential homeowners the best quality service is now, and has always been, paramount. This is evidenced by the fact that in all our years of business, we have never had a consumer complaint filed on this or any other website.

NFM Inc.'s mission is to assist our clients in obtaining financial security by providing exemplary service through mortgage solutions. That mission is supported by our values:

Customer Service - This is our primary value. Our customers are paramount in this organization. Above everything else, we want to be there for our clients. We want to move their loan through the process as expeditiously as possible, without sacrificing the quality of the loan.

Ethics and Integrity When providing services to our customers and our employees, we are committed to the highest standards of honesty, integrity, and ethics. We strive to ensure our management team, employees, and business associates share our dedication.

Professionalism We want our team members to be professional, to have the willingness to work hard, uphold high standards, and always strive to identify the critical needs of our clients.

Commitment Our staff is dedicated to ensuring the highest quality loan product, and to deliver it as quickly and efficiently as possible.

Teamwork We strive to fill our work environment with encouragement and teamwork, building a positive workplace that rewards both commitment and performance.

NFM, Inc.'s mission, values, competence, experience and integrity is consistent with the interests of the public and our federal and state regulators. NFM, Inc. and its management regularly are subject to examination by our federal and state regulators and to quality assurance measures by our consumers, who consistently have confirmed that NFM, Inc. is a sound company. Fueled by our commitment, NFM, Inc. continues to invest in improving our customers' experience and industry best practices to ensure that we not only maintain those qualities, but also exceed expectations.

NFM, Inc. values our reputation, and we take consumer complaints very seriously. We are thankful that we have never had to respond to a personal attack such as the one posted to this website.

NFM, Inc. welcomes any inquiries regarding our company. Please contact us directly at info@nfmlending.com.
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#6 UPDATE Employee

NFM, Inc. Response

AUTHOR: Katie - (U.S.A.)

NFM, Inc. (NFM Lending or National Fidelity Mortgage, as referred to in previous postings) was founded in 1998 and has proudly provided billions of dollars in mortgages for over 15,000 satisfied consumers. For NFM, Inc. and its dedicated and hardworking employees, providing homeowners and potential homeowners the best quality service is now, and has always been, paramount. This is evidenced by the fact that in all our years of business, we have never had a consumer complaint filed on this or any other website.

NFM Inc.'s mission is to assist our clients in obtaining financial security by providing exemplary service through mortgage solutions. That mission is supported by our values:

Customer Service - This is our primary value. Our customers are paramount in this organization. Above everything else, we want to be there for our clients. We want to move their loan through the process as expeditiously as possible, without sacrificing the quality of the loan.

Ethics and Integrity When providing services to our customers and our employees, we are committed to the highest standards of honesty, integrity, and ethics. We strive to ensure our management team, employees, and business associates share our dedication.

Professionalism We want our team members to be professional, to have the willingness to work hard, uphold high standards, and always strive to identify the critical needs of our clients.

Commitment Our staff is dedicated to ensuring the highest quality loan product, and to deliver it as quickly and efficiently as possible.

Teamwork We strive to fill our work environment with encouragement and teamwork, building a positive workplace that rewards both commitment and performance.

NFM, Inc.'s mission, values, competence, experience and integrity is consistent with the interests of the public and our federal and state regulators. NFM, Inc. and its management regularly are subject to examination by our federal and state regulators and to quality assurance measures by our consumers, who consistently have confirmed that NFM, Inc. is a sound company. Fueled by our commitment, NFM, Inc. continues to invest in improving our customers' experience and industry best practices to ensure that we not only maintain those qualities, but also exceed expectations.

NFM, Inc. values our reputation, and we take consumer complaints very seriously. We are thankful that we have never had to respond to a personal attack such as the one posted to this website.

NFM, Inc. welcomes any inquiries regarding our company. Please contact us directly at info@nfmlending.com.
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#7 Author of original report

THERE IS A LOT MORE!!

AUTHOR: M - (U.S.A.)

The things mentioned above are just the tip of the iceberg as it relates to unethical business practices at NFM or National Fidelity Mortgage. If you have been ripped off in the past by them do what you can to retrieve your money. If you are ever solicited by them, don't do a mortgage with them. There are employees at this company with little or no ethics - it is what they know - it is what they are taught. The President of the company has already had issues with credibility in the past, and can be easliy accessed via a google search with his name and the words Federal Trade Commission. You can find his name on the company web-site. This company should be investigated from top to bottom and they should start at the top. The bottom just does what they are told.
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#8 UPDATE EX-employee responds

Add the correction for the record

AUTHOR: Nikki - (U.S.A.)

I read the rebuttal from Nikki in Baltimore and it is more than half correct . However, there were actually 17 complaints filed in the state of Colorado and the Attorney General Office was going to issue a cease and desist against the company in that state. However, Maryland records are unknown at this time and the media and other groups are apparently trying to invoke MPIA to have the records released on the amount of the complaints this company has received in regards to the broker agreement. My thing is DLLR has the situation let them handle it accordingly and if the law suit is necessary to make them pay back the money then so be it. And I am the real Nicole that someone else was imitating above in that first rebuttal and I had to set the record straight and release the corrected information and yes, I was issued an errenous breech of confidentiality agreement that has been rectified with a confession by one of the mentioned parties in my battle as a consumer.
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#9 UPDATE EX-employee responds

There is more to the high fees try a little bit of deception to go

AUTHOR: Nikki - (U.S.A.)

100% agree with Ms. Laura and I wish that she would call me as there is a class action lawsuit in the works against thi lender as they have been violating their own Mortgage Origiantion Ageement or the broker agreement. It clearly states on their own mortage broker agreement that their administrative fees are to be $275.00. However, they have been charging fees of $395 to $995.00 . Clients sign an inflated GFE and this disclosure at the same time at the initial application.

Moreover they hate to provide copies and if you have some send them to DLLR with the disclosure called the Mortgage Origination Agreement this is to be the binding contract especially in Maryland not the GFE. The issue has been put before DLLR but they are really only concerned with primary residences tha is why a lawsuit is necessary. NFM, INC has been made aware that they are under scrutiny for violating the agreement however instead of returning consumers money they issued breech of confidentiality agreements agaisnt former employees for whistleblowing.

However, they can only stop them from talking about what happend in the locations ,as some have had their loans done with NFM and that makes them consumers with far more rights than a contract to NFM . It is about the welfare of the public at large and this lender in 2002 received 17 cease and desist otices ? This doesnt sound to good.

CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.

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