NJ Lenders Corp.
75% of our customers would recommend this lender.
About NJ Lenders Corp.
NJ Lenders Corp. is a licensed Mortgage Banker in the State of New Jersey, Licensed Correspondent Lender in the State of Florida, Registered Mortgage Broker in the State of New York, and Licensed Mortgage Broker in the State of Connecticut. With our...Read more
Lender ReviewCDIGS from East Windsor, NJ
Do you like aggrevation? Stress? Incompetence?Are you looking to buy a new house or condo? Looking to refinance your loan? Thinking of using NJ Lenders Corp? Then thank your lucky stars that you are reading this review! Because now you can actually get your loan processed without having to pull all of your hair out, constantly feel like you need to scream at someone, and play games with your loan processor! Oh let me list the ways that NJ Lenders Corp will try their hardest to NOT process your loan and demonstrate that they don't want your business: - Constantly request the same documents from you, even though you JUST SENT it not 2 days ago. This happened with multiple documents and just shows you how disorganized and inefficient they are. It can easily put your deal in jeopardy. This happened with our appraisal document acknowledgement, with our bank statements, with our investment account statements, etc. I've sent some documents 3 TIMES. I just gave up and accepted the incompetence and didn't even bother pointing out that I already sent it. - Request irrelevant documents, even though you know they're irrelevant, they know they're irrelevant. Case in point: they called out a credit account that was CLEARLY listed as terminated 10 YEARS AGO and closed in good standing with zero balance and wanted proof of payment. So we scrambled and called the credit card company who told us that they don't keep records for accounts in good standing after 5 years of termination. Then finally, they tell us "no, we're good on this" after I sent them a credit report I obtained myself showing the account was closed. Uh, hello?! You have THE SAME CREDIT REPORT! How is it that I'm able to read the report and make more sense of it than your underwriters? - Ridiculous requests to provide documentation that doesn't exist. We explained to them that one of our accounts only provided quarterly statements and provided the last two quarterly statements. NOPE, NOT GOOD ENOUGH! They insisted on getting a monthly statement even though only quarterly statements were available to us. We needed to jump through hoops to get a special statement from the financial institution. Why? The two quarterly statements clearly showed roughly the same balance and the same exact holdings. Either their underwriting process is too inflexible or the communication between the processors and the underwriters is poor; we tried to explain multiple times that the official statements were quarterly and provided balance summaries printed from the website for their requested period, but that wasn't good enough?! - Total lack of communication. We only found out that the appraisal had been done 10 DAYS AFTER THE FACT. Meanwhile, a lot of paperwork and forward action was pending this documentation. I had called in that 10 day period to verify when the appraisal would be done and I was told that it would be ordered immediately. IT HAD ALREADY BEEN DONE. - Ridiculous conditional requirements for the loan. My wife and I both have 800+ credit scores, paid 20% down, and have enough income to cover two mortgages. But they still wanted to see 9 months of reserves on the new property and 6 months of reserves on a property that we were selling. Now, we were able to meet these requirements, but I think few people have an extra $52,000 just sitting around. AND OF COURSE, you won't find out about this until you're 4 weeks into this process, when it's too late to find a better lender. Never mind the fact that we were told that we were pre-qualified for an unconditional loan. - You will CONSTANTLY have to be on top of them to make sure that everything is going as expected. You practically have to call or email them every other day to ensure that they aren't waiting on something and that your loan is still being processed as expected. Buying a house or a condo is one of the most important decisions of your life. Seriously, do yourself and your family a favor: avoid NJ Lenders Corp like the plague. You have a choice and it's important that you make the right choice to prevent a disaster in your closing process. They may be good and responsive on the sales side, but you WILL run into problems on the processing side. If you really want to get your deal done, you want to get it done efficiently, you want to get it done with as little aggravation as possible, you want to deal with competent people that work efficiently and professionally, you want to ensure that your deal can close without any unexpected hitches: DO NOT USE NJ LENDERS CORP... Read More
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Lender ReviewRCLTRH from Brooklyn, NY Confirmed LendingTree CustomerRecommended!
Excellent ExperienceWho says you can't close on a house in NYC in 40 days! Harvey at UMS was very good to work with - he filled everything out for us, got us pre-approved, then sat back and waited for us to find the right property. Once we did, he was on the ball - available at all times it seemed as we scanned and emailed all those full doc loan requirements sometimes late at night and he always responded within minutes and made the process rather painless. From start to finish, even with an FHA loan appraisal on a 100 year old townhouse that needed some work, we were able to close in about 40 days. Ask for Harvey. He will treat you right... Read More
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Lender ReviewBrianL from Basking Ridge, NJ Confirmed LendingTree CustomerRecommended!
Goes Above and BeyondWe just closed on a house using United Mortgage Services as a broker agent. Many people will wonder why they should consider a broker rather than applying to a specific bank. For one, our broker was able to shop around to a number of banks that he had relationships with to find the right bank that would be willing to give us a loan given our particular circumstances (self employed for less than 2 years). David Galatt, Senior VP, came through for us getting us a loan with Wells Fargo Bank at 5.0% on a jumbo loan!!! This guy was incredible - he even came into the office on Mother's Day (a Sunday) to rewrite our Pre-Approval Letter so that we could make an offer on our dream house..... thanks UMS, thanks David!! And, when you go through a broker it is no more expensive than going through the bank - the bank ends up paying the broker their fee to do a lot of the upfront legwork in terms of collecting documents, etc. We highly recommend them..... Read More
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