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Do Not Use NASB For Your Mortgage!!!

From the beginning it appeared that going with NASB for my mortgage would be a smooth process.  This was far from the truth when it got down to crunch time. I DO NOT recommending contacting NASB for anything at all regarding a mortgage.

 

NASB had 30 days to secure a loan and 38 days to close on my condo.  The day before I was suppose to have a loan commitment I received an email from my loan officer at 3:42PM stating they would be late.  They had to do an extra “field review”.  Mind you my agent said they had never had this problem with the previous 28 units sold in the condo development.  Wells Fargo, NASB’s underwriter, demanded this field review to sign off on the loan.  The review itself was a bit ridiculous itself considering the developments past, but to realize the review needed to happen less than 24 hours before a loan commitment was due?  That’s inexcusable.  NASB was 10 days late securing a loan commitment while up until 2 days before it was due all I heard was “Don’t worry we will get it done on time”.  This caused me to close 8 business days later than I was expecting to.   Also they charged me an extra $325 for an extra appraisal (which was basically just a second appraiser double checking what the first one did) and would not waive that fee even thought NASB was late every single step of the way.

 

In summary, in a time critical process NASB and their underwriter’s weren’t able to meet any sort of a deadline at all.  What good is a decent rating on the BBB website if you can’t meet any deadlines as a mortgage provider??  That’s like being an eight foot ball basketball player and not being able to catch, dribble, or shoot the basketball.  PLEASE use somebody else to secure a loan for your new house or condo to avoid what I had to go through.  NASB failed to meet any expectations I had for them.  I know every company has little slip ups.  This was a major one.  Stay away from NASB for your mortgage if you want to close on your home on time.  Everything NASB was extremely last minute.  Reply to this review and I can email you actual emails from NASB with dates and time stamps on them.



Health

Data for Q4 2013

Institution Health

B

Texas Ratio

GRADE:
B

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 North American Savings Bank had $34.53 million in non-current loans and owned real-estate with $217.11 million in equity and loan loss allowances on hand to cover it. This gives North American Savings Bank a Texas Ratio of 15.90% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for North American Savings Bank decreased dramatically from 35.99% as of December 31, 2012 to 15.90% as of December 31, 2013, resulting in a positive change of 55.81%.This indicates that the balance sheet and financial strength for North American Savings Bank has improved dramatically in recent periods.

Deposit Growth

GRADE:
F

In the past year, North American Savings Bank has decreased its total deposits by -$133.32 million, resulting in -15.14% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth North American Savings Bank has shown is poor.

Capitalization

GRADE:
A+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. North American Savings Bank has $1.16 billion in assets with $217.11 million in equity, resulting in a capitalization level of 18.69%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #29708
Year Established1923
Employees450
Primary RegulatorOCC
Assets and Liabilities
Assets$1.16 billion
Loans$781.99 million
Deposits$747.35 million
Equity Capital$195.84 million
Loan Loss Allowance$21.27 million
Unbacked Noncurrent Loans$23.94 million
Real Estate Owned$10.60 million
Historic Data - December 2012
Assets$1.23 billion
Equity Capital$183.87 million
Loan Loss Allowance$27.85 million
Unbacked Noncurrent Loans$23.94 million
Real Estate Owned$15.31 million
Profit Margin - Quarterly
Net Interest Margin4%
Return on Assets1.9%
Return on Equity11.38%
Interest Income$50.05 million
Rates

Always verify rates and promotions with the bank or credit union. We are not North American Savings Bank, we are a rate comparison website and can not provide official rates or promotions.

North American Savings Bank Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.50%$75k-Performance Savings
0.45%$75k-Select III Savings
0.34%--Smart Savers Savings
0.14%--Statement Savings
0.14%--Stepping Stones Savings
0.05%$50-Deposit the Difference Savings

North American Savings Bank Money Market Rates

DetailsAPYMINMAXPRODUCT
0.45%$50k-Money Market

North American Savings Bank Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.60%-$25kRewards Checking
0.20%$25k-Rewards Checking
0.15%$2,500-Elite 50 Checking
0.15%$2,500-Preferred Checking

North American Savings Bank CD Rates

DetailsAPYMINMAXPRODUCT
1.05%$10k-48 - 59 Month CD with Checking
1.05%$10k-60 - 120 Month CD with Checking
0.90%$1k-48 - 59 Month CD
0.90%$1k-60 - 120 Month CD
0.85%$10k-36 - 47 Month CD with Checking
0.70%$1k-36 - 47 Month CD
0.70%$10k-14 Month CD with Checking
0.60%$10k-24 - 35 Month CD with Checking
0.50%$1k-14 Month CD
0.45%$1k-24 - 35 Month CD
0.35%$10k-12 - 23 Month CD with Checking
0.30%$10k-6 - 11 Month CD with Checking
0.25%$10k-3 - 5 Month CD with Checking
0.20%$1k-12 - 23 Month CD
0.15%$1k-6 - 11 Month CD
0.10%$1k-3 - 5 Month CD

North American Savings Bank IRA Rates

DetailsAPYMINMAXPRODUCT
1.05%$10k-48 - 59 Month IRA with Checking (Traditional,Roth,CESA)
1.05%$10k-60 - 120 Month IRA with Checking (Traditional,Roth,CESA)
0.90%$1k-60 - 120 Month IRA (Traditional,Roth,CESA)
0.90%$1k-48 - 59 Month IRA (Traditional,Roth,CESA)
0.85%$10k-36 - 47 Month IRA with Checking (Traditional,Roth,CESA)
0.70%$1k-36 - 47 Month IRA (Traditional,Roth,CESA)
0.70%$10k-14 Month IRA with Checking (Traditional,Roth,CESA)
0.60%$10k-24 - 35 Month IRA with Checking (Traditional,Roth,CESA)
0.50%$1k-14 Month IRA (Traditional,Roth,CESA)
0.45%$1k-24 - 35 Month IRA (Traditional,Roth,CESA)
0.35%$10k-12 - 23 Month IRA with Checking (Traditional,Roth,CESA)
0.35%$10k-12 Month Fixed IRA with Checking (Traditional,Roth,CESA)
0.30%$10k-6 - 11 Month IRA with Checking (Traditional,Roth,CESA)
0.25%$10k-3 - 5 Month IRA with Checking (Traditional,Roth,CESA)
0.20%$1k-12 - 23 Month IRA (Traditional,Roth,CESA)
0.20%$100-12 Month Fixed IRA (Traditional,Roth,CESA)
0.15%$1k-6 - 11 Month IRA (Traditional,Roth,CESA)
0.10%$1k-3 - 5 Month IRA (Traditional,Roth,CESA)
Locations


North American Savings Bank Locations
Community Bank - Excelsior Springs Branch1001 N Jesse James RoadExcelsior Springs, MO 64024
11400 East 23rd Branch11400 E 23rd StreetIndependence, MO 64052
North American Savings Bank, F.S.B.125th and South 71 HighwayGrandview, MO 64030
2002 East Mechanic St Branch2002 East Mechanic StreetHarrisonville, MO 64701
Platte City Branch2707 Prairie View RoadPlatte City, MO 64079
291 Highway Branch646 North 291 HighwayLee's Summit, MO 64063
7012 NW Barry Road Branch7012 NW Barry RoadKansas City, MO 64153
North Oak Trafficway Branch8501 North Oak TrafficwayGladstone, MO 64119
920 Belt Highway Branch920 Belt HighwaySt. Joseph, MO 64501