BBB Business Review

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This business is not BBB accredited.

Majestic Mortgage Corporation

Phone: (401) 739-5363 Fax: (401) 739-5390 615 Jefferson Blvd Ste B205, Warwick, RI 02886 http://www.majesticmtg.com

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Description

Majestic Mortgage Corporation specializes in mortgage lending and provides customers with low rates and low closing costs. The company maintains that approvals must pass very strict personal, financial, and experience criteria; that is subject to strict audit guidelines by the state banking departments as well as the Department of Housing and Urban Development.  We offer purchase money mortgages as well as refinancing options.  0% down payment, FHA, USDA, HARP & VA are just a sampling of the programs we offer.


BBB Accreditation

This business is not BBB accredited.

Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.

To be accredited by BBB, a business must apply for accreditation and BBB must determine that the business meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses must pay a fee for accreditation review/monitoring and for support of BBB services to the public.


Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Based on BBB files, this business has a BBB Rating of No Rating. The reason is as follows:

  • This business has no rating because it is out of business.

Industry Ratings Comparison | Chart


Customer Complaints Summary

0 complaints closed with BBB in last 3 years | 0 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 0
Billing/Collection Issues 0
Delivery Issues 0
Guarantee/Warranty Issues 0
Problems with Product/Service 0
Total Closed Complaints 0

Customer Reviews Summary Read customer reviews

1 Customer Review on Majestic Mortgage Corporation
Customer Experience Total Customer Reviews
Positive Experience 1
Neutral Experience 0
Negative Experience 0
Total Customer Reviews 1

Additional Information

BBB file opened: October 19, 1990 Business started: 04/07/1989 in RI Business started locally: 04/07/1989 Business incorporated 04/07/1989 in RI
Licensing, Bonding or Registration

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

These agencies may include:

Rhode Island Department of Business Regulation
1511 Pontiac Avenue , Cranston RI 02920
http://www.dbr.state.ri.us/divisions/banking/
Phone Number: 401-462-9617 or (401) 462-9500
Fax Number: 401-462-9602 or (401) 462-9532
DBR.BankInquiry@dbr.ri.gov
The number is 90000425LB.

Massachusetts Division of Banks
1000 Washington St, 10th Floor, Boston MA 02118
http://www.mass.gov/ocabr/government/oca-agencies/dob-lp/contact-the-division-of-banks.html
Phone Number: (800) 495-2265
Fax Number: 617) 956-1599
dobconsumer.assistan@state.ma.us
The number is MB2223.

Type of Entity

Corporation

Business Management
Mrs. Jayne E Furlong, President
Contact Information
Principal: Mrs. Jayne E Furlong, President
Number of Employees

9

Business Category

MORTGAGES-BROKER MORTGAGES-COMMERCIAL MORTGAGES-LENDER MORTGAGES-SERVICING & INVESTORS MORTGAGES-REVERSE MORTGAGES-ADVISORY SERVICES Mortgage and Nonmortgage Loan Brokers (NAICS: 522310)

Products & Services

Majestic Mortgage Corporation sells the following brand(s): Fannie Mae, FHA, Freddie Mac, USDA, VA

Majestic Mortgage Corporation offers the following product(s): Mortgage lending programs

Method(s) of Payment
Check
MasterCard
Visa
Industry Tips
Adjustable Rate Mortgages Advance Fee Mortgage and Loan Brokers Home Equity Loans Mortgages - Broker Read Before You Sign
Industry Ratings Comparison Chart X
Same Relative Size   All Businesses
The information in the chart below represents an industry ratings comparison of businesses which are of the same relative size or for all businesses (see toggle). This is based on BBB's database of businesses located in Eastern Massachusetts, Maine, Rhode Island and Vermont. Businesses may engage in more than one type of business.
X

BBB Customer Review Rating plus BBB Rating Overview


BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.
Details

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.