Nationwide Bi-Weekly Administration

This is an expensive scam. I paid to have my money withdrawn from my bank account biweekly only to have them pay my mortgage company on a monthly basis. Now they lost their bank affiliation and stopped the biweekly withholdings without notifying me, until three months later. By then my mortgage company had contacted me to inform me that I had not made my monthly payments. It was not until I spoken with my mortgage company that I found out what was happening. Stay away from NBA they make false promises.

I was charged $ 511 for a «lifetime» service that they then «discontinued» because their «banking partners» were disrupted. GO DIRECTLY TO YOUR MORTGAGE COMPANY they offer the same exact service without any fees.
This company should be sued for luring clients into false representations of what they actually offer.
Shame on me for not looking them up prior.

Can I give 0 stars??? They recently sent a letter stating that they lost affiliations with their bank and are unable to pay our biweekly payment to our mortgage company. WE HAVE QUESTIONS! And whenever we try to call, it’s an automatic hang up! We called at 5:15pm, and the voice said «Our hours are until 6:00pm, you have called after hours.» WHAT??! Literally the WORST company I have ever dealt with. As soon as I finally get a hold of them on the phone, I’m cancelling my services with them. HORRIBLE.

Lawsuit against them for lying about promised savings. They just lost their bank affiliation and it’s now put on the customers to deal with. When I call, automatic hang up.

i have been using them for 6 years now i don’t pay a monthly fee. i have trimmed 3 years off my mortgage but i was paying an extra $ 100 every 2 weeks because i never adjusted payment after the value of my house dropped.

Signed up with fast talking rep who made it sound fantastic but its really not all that great and you can accomplish the same thing with your lender or just make extra payments. So I faxed, and emailed the cancellation letter and they never respond. So i called them, transferred me like 3 times, and 30 plus minutes later they emailed me the confirmation of cancellation and said they got nothing from me. Still leery as they have my account info. may change it just in case.

I received very deceiving solicitation from these guys after purchasing my new home. A quick glance over it made me think that it might be worth pursuing, so I set it aside for further investigation. Today I dug into the details and found that this is nothing more than a high-​fee «service» that does nothing more than hold onto your money for you, as other posters have stated. You save interest, but you could do the same thing without paying a dime in fees.
Most mortgage lenders will let you do effectively the same thing easily and for free. I set up my mortgage auto-​payments today, and I took advantage of this feature from my lender. My example works like this: my total payment is approximately $ 1200, and $ 400 of that is escrow for tax, so roughly $ 800 per month is for principle and interest. $ ⁸⁰⁰⁄₁₂ is $ 66.67, so I am making a total monthly payment of $ 1267. This will shorten my payment period from 30 to roughly 26 years and will save me a good bit of interest. If you set up an extra payment, be sure to specify that it is to be «applied to principle.»
This is easy to do and doesn’t require paying anyone a dime. Companies that engage in practices that make the end recipient believe that they are getting something of value when the are not getting anything of value are scummy. Stay away from National Biweekly Administration and do this on your own!

If I could give negative stars I would.
Paying someone to administer a bi-​weekly mortgage payment is a complete rip-​off. I can just as easily create an account, put the money in weekly or bi-​weekly and pay my mortgage payment out of that account plus one extra payment per year completely towards principal all by myself.
If you read the letter, you pay them every two weeks. Then once a month (or is it every 4 weeks?) they send a payment to your mortgage company. In the meantime, they have your money that they can use for investing, paying their bills, etc in addition to any fee you may pay them for this «service».

Scam Artists!
If you want to save money by not paying exorbitant amounts of interest… just pay extra each month which will apply towards your principal, which will also reduce your interest.
Example. You are paying $ 3000.00/month for 12 months.
Want to save money, just pay $ 3,200/month. This will save you money.
If absolutely must pay bi-​weekly or weekly, call your lender directly AND DO NOT call Nationwide Biweekly Administration or Loa Payment Administration.
Be safe New HomeOwners!
GodSpeed!

I would hope that anyone who receives a letter from this company would think to look them up BEFORE they agree to anything. Or better yet, check with your LENDER!
My lender said trash the letter AND told me how to make payments that match what these creeps are trying do without the extra fees they’re trying to charge.
As simple as it seems, buying a house & all the legal paperwork that follows can be overwhelming. It’s PATHETIC companies like these take advantage of that & use public records to scam new homeowners out of their money.

I recently enrolled through their bi-​weekly program. The customer care was very patient so had no issues in setting it up. I just checked with my lender (wells fargo) and found that I can set up bi-​weekly payments directly through wells-​fargo without any extra fee. So I cancelled my enrollment with nationwide and got it done directly with wells fargo.
So check with your lender if they can directly setup your account into bi-​weekly without any extra fee.
Nationwide was good to cancel my enrollment easily, without any issues. I still give them 3 stars because they should have told me that I could (or should check) get it done directly from my lender without any fee.

The only way this company is worth pursuing is if you are lazy/​undisciplined. They will charge you a hefty fee in order to set up your bi-​weekly payments. Instead, you can do this yourself. Check out this site:

Basically, if you divide your monthly payment by 12, then take the result and apply it towards your principle each month, you’re doing the same thing as a bi-​weekly payment-​which means you pay the equivalent of 13 months in 1 year. Most loans do not have prepayment fees, so you should be fine.
Don’t fall for this company’s shady mailings…

I’ve been working with NBA for 9 years and have saved thousands of dollars in interest and cut 4 years off my mortgage. I don’t know what any of these other reviewers are talking about. Clearly they have never used the service or they wouldn’t be complaining. I recommend NBA to everyone I know.

Misleading mortgage companies like Nationwide are taking advantage of a federal law that allows them to use a copy of your credit report when you applied for your mortgage. Why the FTC allows this is mind boggling.
What makes Nationwide worthy of a 1 star review is that they will ignore the FTC’s opt out registry and will repeatedly mail you notices until you opt out with them directly. Their letterhead and logo is also misleading with their title «Loan Payment Administration». For a minute I thought it was a letter from my lender.
I decided to make this post a reference guide on opting out and reporting Nationwide to the FTC:
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Here is how to opt out from Nationwide:
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* Call their number: 1−800−317−1756
* Press 2 for customer service
* Press 5 for all other requests
* Give them your Account ID and Reference ID and ask to be removed.
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Make sure you are signed up with the FTC to opt out of prescreened offers of credit and insurance:
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If you are already opted out with the FTC then report Nationwide to the FTC
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* On the right side category click «Credit and Debt»
* Select «Credit and Loans»
* Select «Mortgage»
* Select «Other/​Not Applicable»
* Select «A company other than my existing mortgage lender offered to save my home from foreclosure or to get me a loan modification.»
Fill out just the date you were mailed and ignore the rest. Move onto the next screen and fill out the following:
Nationwide Bi-​Weekly Administration, Inc
855 Lower Bellbrook Rd
Xenia, OH 45 385
Fill out your own information to validate your report with the FTC.
In the comments section include the following (feel free to copy and paste this):
Despite being actively registered with the FTC opt out of receiving prescreened offers of credit and insurance, I have been repeatedly mailed by Nationwide Bi-​Weekly Administration, Inc. Their letterhead is designed to look official with a misleading heading title of «Loan Payment Administration». Their phone menu system is designed to not provide any option to clearly opt out of their mailings. Their web site provides no means to directly opt out.

They send mailings out that reference your lender to mislead you. They put a false sender name of «Loan Payment Administration» so you don’t realize it’s a scam company. They put «2^nd attempt» at the top to make you think the matter is urgent. Stop mailing me your garbage.

You will have to pay a hidden «setup fee» for joining this program… beware! I had no idea that I would have to pay this and it was $ 637.00!
Do NOT enroll for this program without really doing your research. You will make more than 2 payments some months and it will cost you this fee!