Trident Mortgage Company

DO NOT waste your time. I was pre-​approved again and again by this company over a 6 month period. Then, I proceeded to be passed off from one person to another as 2 employees left without notice. 3 days before closing, I was told via email that I was denied for a mortgage that was 50% less than what I was originally approved for. I could not go to closing and ultimately lost the property. No one called to apologize. No one followed up. No one cared.

We persevered. This might even be an excellent firm for «home» acquisition (some well-​developed systems — they’ve been around the block), but the consultant seemed more than slightly undereducated about investment properties. I won’t go into details, but it was awkward. More than three times, new information came in after the Agreement of Sale was made and accepted. Of course, all the fallout landed on me – thousands of additional $‘s owed at signing. (More than 20% above the original Cash Requirement estimate.)
I would have made a completely different offer if I had had more information about the requirements on investments and where they differ from home purchases.
I don’t feel I could have done more research on my end. These were all highly technical issues, and that’s what I was looking to guard against by hiring a reputable broker.
More than just poor communication on the back-​end, but that’s technical people for you, I suppose.
To their credit, they persevered. They took the errors in stride and attacked issues creatively and from lots of different angles. Lots of oversights all the way through however, but that’s why you need to read and understand your documents.

I thought I was going to save ¹⁄₈ of one per cent on my mortgage interest rate by going with a web-​based outfit that advertised in the Sunday Inquirer. They kept demanding more and more documentation, until my wife was smart enough to realize that they might not make our settlement deadline. We opened a second application with Kenton Davidson at Trident. At the settlement deadline, Trident was ready to go (in literally half the time), while the original lender was not. Not only did Trident likely save our home purchase, but they were unfailingly gracious despite knowing that I was committed throughout to closing the deal with the original lender if they had come through with the funds. As a kicker, rates came down a bit while I was thrashing around with this, and Trident met the market at a lower rate than their original quote.