Buying your dream home is an exciting experience, but it can also be complex at times. There are many moving parts to the mortgage process and the journey of homeownership may even seem overwhelming at certain points. New American Funding (NAF) simplifies this journey by working with you for the life of your loan.
In fact, NAF services 98% of the loans we originate ourselves.
Instead of having your loan initiated by one organization then passed on to another, you will have the same familiar support that you first experienced with NAF until you pay off your loan.
What does it mean to service a loan?
Mortgage servicing is a large part of the home loan lending process. It is a significant part of homeowning experience for millions of individuals and families. Servicing a loan includes a wide range of activities, including collecting the monthly mortgage payments, disbursing taxes and insurance premiums, handling escrow accounts, and providing essential customer service to borrowers throughout the life of their loans.
In other words, mortgage servicing offers structured support through the various financial aspects that you are responsible for once you have closed on your home.
Why does NAF prefer to service its own loans?
NAF exists to empower homeowners. While originating a loan can sometimes take only 30 days, servicing a loan can take up to 30 years. By servicing our own loans, we are able to build deeper relationships with our customers. Servicing isn’t just about making sure that homeowners’ taxes and insurance are paid on time. It’s also about supporting our customers through the highs and lows of life.
“Long-term relationships are built on trust and communication. From the day someone reaches out to New American Funding for a home loan, our goal is to make sure that the process is efficient and transparent, said our EVP, Chief Servicing Officer Roger Stotts, “We carry that process through to servicing.”
As part of our commitment to creating a truly customer-centered experience for our borrowers, we recently opened a new Servicing Center in Austin, TX.
Servicing our own loans simplifies the communication process and allows us to provide our customers with a more consistent high-quality experience. Since we are the ones to originate the loan, this means that we are already familiar with the borrower, their financial profile, their history, and the terms and conditions of their loan. This allows for a smoother transition between loan origination and servicing.
Aligning with our customers’ goals from the beginning of their home search through the life of their loan means that we can work together to build a relationship with their future in mind. A relationship based on trust and commitment, designed not just to create, but to maintain, the life they have been working for.