Mortgage Partners, Inc.

Find out more about Mortgage Partners, Inc.:

BBB Accreditation BBB Rating Business Contact and Profile Products and Services Business Management Additional Locations and Phone Numbers Licensing Customer Complaint History

Government Actions Advertising Review Industry Tips BBB Copyright and Reporting Policy

BBB Accreditation

Mortgage Partners, Inc. has been a BBB Accredited business since November 2003. This means it supports BBB's services to the public and meets our BBB Accreditation standards.

BBB Rating for Mortgage Partners, Inc.

Based on BBB files, Mortgage Partners, Inc. has a BBB Rating of A+ on a scale from A+ to F.

Click here for an explanation of BBB Ratings

Products and Services of Mortgage Partners, Inc.

This is a mortgage company dealing with customers with all types of credit issues. They offer jumbo loans, sub prime, 100% financing, refinancing, new purchase loans as well as conventional loans.

Business Management

Additional company management personnel include:

Mr. Shawn Foley - VP

Additional Locations and Phone Numbers

Licensing for Mortgage Partners, Inc.

This company is in an industry that may require licensing, bonding or registration in order to lawfully do business. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

These agencies may include:

North Carolina Banking Commission
316 W Edenton St
Raleigh, NC 27603-1761
(919) 733-3016
www.nccob.org

BBB records show a license number of B-102490 for this company, issued by North Carolina Banking Commission. Their web address is www.nccob.org.

Customer Complaint History for Mortgage Partners, Inc.

BBB processed a total of 0 complaints about Mortgage Partners, Inc. in the last 36 months, our standard reporting period.

Government Actions

BBB has no information regarding government actions at this time.

Advertising Review

BBB has no information regarding advertising review at this time.

Industry Tips

Refinancing Loans

If you are considering refinancing, BBB suggests you shop around, compare prices and negotiate. But also move with caution when dealing with some lenders. To help you decide if refinancing is for you and to help you prepare to approach a financial institution, BBB offers these tips.

When you refinance your home, you simply apply for a new mortgage at the lower rate in order to pay off the old loan. This means that, for many lenders, you will again be required to pay most of the costs you originally incurred to get your first mortgage - loan application fees, title search, appraisal, credit check, lawyer's services, discount points (in many cases) and other finance charges.

Before you go through the expense of refinancing, check the interest rates to make sure they have dropped to a level that makes refinancing worthwhile. Conventional wisdom states that a two or three percent difference between the rate on your current mortgage and the new rate over a period of time - generally several years - usually offsets the costs you must pay at closing. The ultimate amount you may save depends on many factors, including your total refinancing, whether you sell your home in the near future and the effects of refinancing on your tax situation.

If you decide to refinance, obtain information from several lenders. Knowing just the amount of the monthly payment or interest rate is not enough. Ask for information about the same loan amount, loan term and type of loan so that you can compare the information.

Also, be cautious of smooth-talking lenders that contact you offering easy credit, guaranteed low-interest loans or loan terms that sounds too good to be true. Fraudulent lenders often prey on people who are desperate for cash to pay bills, make home repairs or who do not understand the mortgage loan process. Their loan terms can include excessive fees, high interest rates and provisions that can make it expensive for you to get out of the loan. If a lender asks for an up-front fee before you can obtain the loan, look elsewhere. Be sure to check with the BBB and your state attorney general for a reliability report on the lending institution (s) you are considering.

Once you know what each lender has to offer, negotiate for the best deal that you can. Have the lender or broker write down all costs associated with the loan. Be sure to read the loan documents carefully and be certain that all spaces are filled in before you sign them. Always assume that any document you sign is a contract. If you do not fully understand it, do not sign it!

BBB Copyright and Reporting Policy

As a matter of policy, BBB does not endorse any product, service or business.

BBB Reliability Reports are provided solely to assist you in exercising your own best judgment. Information in this BBB Reliability Report is believed reliable, but not guaranteed as to accuracy.

BBB Reliability Reports generally cover a three-year reporting period. BBB Reliability Reports are subject to change at any time.

If you choose to do business with Mortgage Partners, Inc., please let them know that you contacted BBB for a BBB Reliability Report.

ID: 9002503
Report as of November 7, 2009 02:26
Copyright^© 2009 Better Business Bureau