New American Funding Reviews

A meeting in person

Sean was great to work with. He was a good communicator and he worked hard to make a complicated loan close on time. That said, his team was very poor at communicating, and it took multiple follow-ups to receive responses from his LP's, Andrew & Anne, which made the transaction much more complicated and stressful. Sean took over for them and reassured us everything was on track, but their lack of communication was very frustrating for me and the Closer as we were trying to bring the transaction

We truly appreciate that our loan application was accepted. We acknowledge that we don't know how long the process takes. We were working within a very tight timeline. We were given the impression that out payout was going to be distributed electronically. When the responsibility fell on us we were already overdue on some accounts. We were charged late fees and now our credit rating may be affected as a result. That aprt of the experience continues to be a nightmare. Better communication would have been appreciated.

thank you for your help

Some logistics were extremely difficult to arrange. Communication was good. Processing of multiple inquires was exceptional.

Kari was fantastic. It’s the entire process/system when it comes to individuals with poor credit who are in desperate need of housing that is the issue. It’s all designed to deny those are deemed as a risk which is understandable on the banks part, but the underwriter on my case nitpicked at things that weren’t even revenant to proving that I could pay back the loan. It got to a point where not only was it stressful because they kept coming back with something new every day but also invasive to my personal privacy. I also believe this loan was extended well passed 14 business days and I did not receive the as advertised seller credit for that.

I liked the loan products provided by Zack & would not have been able to complete this process (buying our new home) w/o the products (bridge loan, cash offer) his company/team provided. The communication & style of communication was subpar. I expected transparency but didn't receive that.  First I was told that the product BAP program (Bridge loan) was "one in the same '' as NAF & all communication could go through NAF for the BAP program (that was NOT correct). In fact it is a separate (third-party) company where I can communicate with them directly.  If I was told that in the beginning I wouldn't have had an issue in this part of the process. BAP was having some major staffing issues during my loan process that made my experience very challenging!? Secondly, I had a very transparent discussion with Zack about the fees associated with the BAP program (bridge loan) that included my realtor. Zack detailed the fees that I would be invoiced when buying back my new home from the BAP program; Lease fees (Rental daily rate), Prorated taxes, Title transfer fee. There was no mention of the Earnest Money % markup that I needed to come up with in a very short time period. Zack apologized for missing that detail. Thirdly, neither NAF or BAP altered me as to where the Earnest Money needed to go (which title company). Knowing that I had a small window of 3-4 days to get the EM deposited I was stressed, (long story, short) on a busy workday to get a physical check (cashier check) from my bank then rush across town to the title co. only to find out that was NOT the title co. that needed my EM.  BAP & NAF both failed to tell me that the EM needed to be wired to a different institution so back to the bank where we stopped funds on the cashier check & wired the EM to the correct title co. (working w/ BAP) before the deadline. I blame BAP for this because of their lack of communication (staffing shakeup/shortage) but since I was told that BAP & NAF “essentially function as the same entity” you get the point. My realtor helped me resolve this situation. Lastly, I was confused about the way NAF wanted PII & financially sensitive documents throughout the loan process. For the first part of the loan process, I was uploading all the necessary documents to the NAF portal. Then for some odd reason we moved to sharing PII & financial docs via email attachments (not secure, no encryption) I just wanted a consistent way of sharing sensitive information. I didn’t think I would have to tell NAF that I was concerned about the security of my personal/financial information & to not use email to send these documents. I expected consistency using NAF's secure portal for all sensitive doc communication. We switched back to uploading docs to the NAF portal for the last portion of my loan process.? Zack is very knowledgeable in his field and I appreciate his level of experience & advice on the products available to him/me but his communication leaves something to be desired. In almost every conversation with Zack I tried to impart the challenging experience I was having with the loan process & in almost every instance Zack would reply something like this: “No one has ever had an issue like or with that before” and/or  “I’ve never heard of that happening” instead of simply being empathetic to my experience and offering a solution.  Don’t get me wrong he was always available to help but he was very dismissive in regards to my valid frustrations with the process. I just really felt like I was not being heard.  If I would offer advice: When you work with “middle men/people” (as you do in this & many other industries) don’t make assumptions that the communication is always done correctly or on point b/c it's not. You cannot control everything that happens in this very cumbersome process. Take accountability of your own communication & that of others under your watch, be transparent when relaying info. & listen to your customer, being sympathetic to their experience.

Phone calls instead on emails would have made things better. Also the day of closing finding out a payment was not included in my payoffs after sending the statement with balance.