New American Funding Launches Their 14 Business Day Close Guarantee
- Oct. 21, 2013
- Nicole Johnson
New American Funding, a national mortgage banker is pleased to announce the launch of their 14 Business Day Close Guarantee* offered on many of their purchase loan transactions.
This new program comes at a very exciting time in the mortgage industry, where the purchase market is becoming ever more competitive and buyers are highly motivated to get into a home while rates are still low.
Offering 24 hour credit approval by Senior Underwriters, 24 hour underwriting turn times on purchase transactions, and the new 14 Business Day Close Guarantee program, the mortgage company has established itself as a leader in speed and has given its Loan Officers a great competitive edge when it comes to attracting new business and forming relationships with real estate agents.
New American Funding’s continued success in the purchase market is resulting in continued growth. This year they have opened new branches in Arizona, Colorado, Nevada, Texas, Washington and the growth is expected to continue this year with expansion into Utah. The mortgage lender is also taking great strides to build relationships and cater to the builder community, recognizing the many opportunities in that sector.
About New American Funding
New American Funding is a Fannie Mae, Freddie Mac and Ginnie Mae Direct Seller/Servicer, FHA Direct Endorsement and VA Automatic mortgage lender with approximately 800 employees and a servicing portfolio of over $3.5 billion. The company is licensed in multiple states across the nation, funds over $400 million a month, and offers a variety of purchase home loan and refinance loan options, including, Conventional, FHA, Cash Out, Fixed Rate and Adjustable Rate Mortgages, VA, HARP 2.0, Jumbo, and Reverse Mortgages.
*14 business day guarantee only applies to purchase transactions. This guarantee does not apply to Reverse Mortgages, FHA 203k, loans that require prior approval from an investor, brokered loans, or loans with a 2nd td. The guarantee does not apply if events occur beyond the control of NAF, including but not limited to; appraised value, escrow or title delays, 2nd lien holder approval, short sale approval, or lender conditions that cannot be met by any party. The 14 day trigger begins when your initial application package is complete and you have authorized credit card payment for your appraisal. If NAF fails to perform otherwise, a credit of $250 will be applied toward closing costs.