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JG Wentworth VA Loans Review


Rating: 9.8 / 10 (Excellent)
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JG Wentworth is a Pennsylvania-based company with more than twenty years of experience in providing financial solutions to customers in the United States. Their Home Lending section engages in retail mortgage lending activity, originating primarily conventional, FHA, and VA mortgage loans. They have an A+ rating with the BBB, and 4-star TrustPilot score.

How is JG Wentworth rated?

Breakdown

10/10
Loan Options
10/10
Application Process
10/10
Reputation

Overall Rating: 9.8 / 10 (Excellent)

JG Wentworth is a very strong lender of VA loans. Its application process and myriad of options makes its loans accessible to borrowers from any demographic. This lender largely remains within the confines of the Department of Veterans’ Affairs regulations, especially as relates to qualification criteria, loan value limits, and fee waivers. Despite some complaints and regulatory actions, its A+ BBB rating makes JG Wentworth a direct lender worthy of consideration.

Loan Options

Lender Type
Lender
VA Loan Types
Purchase
Rate & Term Refinance
Streamline Refinance (IRRRL)
Cash-out Refinance
Cash-in Refinance
Jumbo
Property Types
Single Family Home
Multi-family Unit
Townhome
Condo
Mobile/Manufactured Home
Term Lengths
40 Year Fixed
30 Year Fixed
25 Year Fixed
20 Year Fixed
15 Year Fixed
10 Year Fixed
8 Year Fixed
Adjustable Rate Mortgage Terms
10/1 ARM
7/1 ARM
5/1 ARM
3/1 ARM
1 Year ARM
Maximum Loan Size
$424,100
Loan Size
$36,000

Loan Options - 9.8 / 10

JG Wentworth is a direct lender of VA loans, with both adjustable- and fixed-rate variants, so as long as their values remain within the official parameters. While the former is available for all terms between 10/1 and 1 year, the latter’s terms range between eight and 40 years. Regardless of whether the applicant lives in a multi-family home or a condo, all types of VA loans are obtainable.

Application Process

Fee Information
VA Funding Fee
Waived Fees
Private Mortgage Insurance, Prepayment penalties
Minimum Credit Score
600

Application Process - 9.7 / 10

JG Wentworth’s application process is quite similar to that of its competitors, requiring a standard VA funding fee, as well as a minimum credit score of 620. Moreover, prepayment penalties are waived, as is the need for private mortgage insurance.

Reputation

Memberships & Regulatory Info.

Nationwide Mortgage Licensing System ID
2925
Nationwide Mortgage Regulatory Actions
3
NMLS Collection Date
2017-08-23
CFPB Total VA Mortgage Complaints
21
CFPB Collection Date
2017-08-23
Standard & Poor's Financial Rating
CCC-
Moody's Financial Rating
Caa1

Online Reviews

Trust Pilot Rating
8.0 out of 10
BBB Rating
A+
Number of BBB Neutral Reviews
1
Number of BBB Negative Reviews
7
Date Collected
2017-08-23

Reputation - 9.8 / 10

JG Wentworth maintains its membership as a licensed lender with the Nationwide Mortgage Licensing System, (ID number 2925). That said, between its 3 regulatory actions, as well as its 21 registered complaints with the Consumer Financial Protection Board, its reputation is less than sterling.

VA Loan History

Period Total Loan Size Number of Loans
Q1 2016 $753 214,184,117
Q2 2016 $648 191,980,314
Q3 2016 $892 272,086,090
Q4 2016 $898 275,041,143
Q1 2017 $1,056 314,347,883
Q2 2017 $772 277,828
Q3 2017 $749 210,950,739

Contact & Additional Information

Homepage URL
Company Phone
(866) 930-6480
Headquarters Address
201 King Of Prussia Rd, Suite 501, Radnor, PA, 19087
Mailing Address
201 King of Prussia Rd. Suite 200, Radnor, PA, 19087
Year Founded
1992

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Our Partner
9.8 / 10
  • Low interest rates and award-winning customer service
  • A+ rating with the Better Business Bureau
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  • Top 10 Home Lending Customer Satisfaction on Lending Tree Platform – 1Q 2017