Northstar Funding Inc

I contacted Northstar Funding having perused their website and after having read online reviews which all sounded very promising. I needed a broker who specialised in non-resident/foreign investor mortgages and they sounded just what I needed. Famous last words. My experience was shoddy to say the least.

Jess Silva was my contact, and not only was he tardy in getting back to my emails or voice messages, when he finally did return my call to discuss my finance needs he was abrupt and quite dismissive and rude when I voiced my opinion that the rate of 6.75% that he had managed to come up with was not exactly competitive in the current market. He had advised me to fill in their online application form but not to fill in the assets and liabilities section as he would complete that after he had seen my paperwork. However, as soon as I expressed my thoughts on the non-competitive rate, he made a smarmy comment that I would only find a better rate if I "had a million dollars in HSBC". Well, turns out had he applied due diligence he would have found out that I do in fact have twice that amount in assets had he only bothered to retrieve this information from me instead of just making up his own mind based on what, I have no idea. Perhaps he did not like my passport picture... Who knows.

He went on to decry my opinion that there were surely better rates around, was barely able to provide me with coherent information, and did not answer my follow-up email asking whether my assets would in fact make a difference to the rate as he had suggested. I would not use this company if you are serious about your business or really need someone who can work quickly and with transparency. Mine was a simple refinance with no defaults in the five years I have held the mortgage, no cash-out, a 60% LTV, and where I have an excellent credit score, and solid income and provable assets - basically a stellar applicant. At the beginning of the call, he was disorganized, curt, requested incorrect information from me, and basically came across as an amateur at best, and at worst, as a jaded broker who is no longer interested in his work or clients. I'm pleased to say that after such a waste of my time and supplying personal information which no-one likes to do in this day and age if the receiver is not going to be respectful and make it count, I was very quickly and with no pain able to achieve a refinance of 4.37% through the broker GetApprovedinc.com. Professional, polite and very much on it, they made it glide through and I am now benefiting from marked savings on my original loan. Northstar Funding said that rate was undoable - shows how much Jess and his outfit know! Buyer beware!

This is my first time/nervous will be using NorthStar Funding to purchase my home
does anyone ever had bad experience with northstar funding current or in the past
please drop me an email [email protected].

thank you
Lala V.

Review: We contracted with Northstar Funding to procure a refinance of our existing mortgages. Upon giving [redacted] the outline of our finances and agreeing to pay $600 for an appraisal, we were told that our mortgage was approved Then a week later, we were told by Mr [redacted] in an ambiguous e-mil that a significant part of our mortgage request was denied. We have e-mailed and called Mr. [redacted] more than a dozen times to obtain information on what exactly happened and he is not answering our calls or e-mails.

I am concerned that either 1). we were misrepresented to the bank (but because Northstar is the client the bank can't give us any information, or 2). Northstar is not legitimate and our personal financial information is in jeopardy.Desired Settlement: I would like a DETAILED letter explaining exactly what was applied for and at what financial institutions with an EXACT reason for denial from the bank, not from Mr. [redacted]. At least then, I can be assured that our financial information was used in the manner that we had anticipated. And, we will have a valid explanation of what happened.

Should it turn out that Mr. [redacted] misrepresented us (which I believe he may have), I would like a refund for the $600 appraisal fee.

Business

Response:

I have been in contact with the borrower and we resolved the complaint.

Consumer

Response:

Review: [redacted]

I am rejecting this response because:

Northstar has been much more attentive due to this complaint. So

far they have just been sending me e-mails with options of what they can

possibly due to correct our problem. I will be happy to drop the complaint once

they have fulfilled their stated course of action, not before.

Thank you for your professional service and attention to this

matter.

Sincerely,