New American Funding Reviews

Good communication and worked to fix problems efficiently

just overall was solid

My experience with Sharon was excellent. Sharon was an invaluable resource to me before, during and after my mortgage process. She made me feel very comfortable from my initial conversation and she provided me with so much knowledge about the loan process, mortgage types and interest rates. She educated me on escrow accounts and was always available to answer my texts or late night calls and it was overall a pleasure working with her. Unfortunately the same cannot be said about the underwriter that was assigned to my file. This person initially pre-qualified me for a conventional loan which I was happy with. Since February they knew that I had a trust account that I was going to utilize for the purchase of the home. They sat on this information until May when they then decided to review the terms of my trust and request tons of additional information regarding not only my trust, but my parent's trust as well. After weeks of reviewing the trust documents and causing me to miss my initial closing date of May 30th, they then decided that I no longer qualified for a conventional loan and I was forced to utilize an FHA loan. This was very disappointing as I now have to pay mortgage insurance and the rate was not that great. We then had to have a rush appraisal done and more documents had to be requested for the FHA loan. Unfortunately, I then missed the rescheduled closing date of June 4th, as the underwriter continued to ask for more and more documentation including IRS wage transcripts (since the W2's I provided her were deemed insufficient). I felt very inconvenienced and frustrated that I had to provide redundant information multiple times and felt that underwriting dragged out the process unnecessarily. We came to find out the underwriter was newly hired and likely had no clue what she was doing. Had the underwriter properly reviewed my file the first time, back in February, we would not have missed 2 closing dates and I would not have been given incorrect information about qualifying for a conventional loan when I truly did not. Thanks to Sharon's consistent followup and pressing management to review my file, we were finally about to close on June 6th. I believe the overall process would have been much smoother for all involved if the underwriter knew how to do her job properly and had received more guidance from her management. A file involving a trust should probably not have been assigned to a new underwriter as this seems to have been way too complicated for her to resolve. This process cost me additional funds and tons of stress and I hope no one else ever has to go through such an unpleasant underwriting process as I did.

The communication between us and the NAF team

The process was well organized and Pam did a "great" job helping us to understand what what going on.

Mike was helpful, responsive and very detailed. He was great to work with.

When I got frustrated with the process Bob would step in to calm me down. He helped guide me to becoming a homeowner.

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