New Dominion Funding – WARNING: EXTREME FRAUD

WARNING: EXTREME FRAUD

Exposing the Scams of William Dederick & His Network of Companies

If you’ve been contacted by William Dederick or any of his associated businesses—Old Dominion Mortgage, New Dominion Funding, or MCS Mortgage Bankers—proceed with extreme caution.

This website exists to warn consumers, investors, and borrowers about the verified and documented fraudulent activities connected to these entities. Victims have suffered significant financial loss, stress, and legal battles due to deceptive and dishonest practices carried out by Mr. Dederick and his companies.

Who is William Dederick?

William Dederick is the individual behind a growing list of complaints involving mortgage fraud and financial scams through companies operating in New Jersey and New York under the names:

Despite repeated rebrandings and entity name changes, the pattern remains the same—collecting large deposits and fees, failing to deliver on promised loans or services, and then disappearing with the funds.

Victim Testimonies

Testimony #1 - Broken Promise & $15,000+ in Losses

“In November 2024, I began working with William Dederick under New Dominion Funding. He promised to close my loan by Christmas and insisted he had close ties with the president of Unity Bank. I paid him $5,000 upfront and another $1,500 for an appraisal. He delayed for weeks, only sending the appraisal fee to the bank after I threatened legal action.

Then I paid Unity Bank $9,300 in fees. After months of legal and title work, we finally got a closing date of March 26, 2025. My wife and I flew from Utah to New York for the closing. Less than 13 hours before closing, I was told Unity Bank was backing out—no explanation, no returned calls, nothing. Thousands of dollars and months of effort vanished overnight.”

Testimony #2 – Bounced Check After Court Judgment

“Old Dominion Mortgage, operated by William Dederick, took $8,700 in deposits for a refinance. After months of stalling and broken promises about waiting for ‘better interest rates,’ I requested a refund. He delayed, lied about sending the money, and eventually sent a check that bounced. Even after winning a court judgment against him, he has never paid. I later learned he has scammed several others the same way.”

Pattern of Deception

Here’s what victims have in common:

Upfront deposits and fees collected without service delivery
False promises of bank approvals or insider connections
Delayed responses, ghosting, or outright disappearance
Issuing bad checks and ignoring court orders
Operating under multiple company names to avoid detection

Why This Website Exists

This page was created by victims and concerned citizens to protect future consumers. By publishing these warnings and personal testimonies, we hope to prevent more people from falling into the same trap.

If you are searching for William Dederick, Old Dominion Mortgage, or New Dominion Funding, let this be your warning: do not proceed without extreme caution.

Have You Been Scammed by William Dederick?

We want to hear from you. If you’ve been affected or defrauded by any of these entities, please reach out so we can connect and potentially take collective legal action.