New American Funding Reviews

My experience with Jessica Kelly was great. Thank you for your help.

Everything

Not a jab at Amy Chick, but your company almost made me lose the house because of a clerical error that wasn't caught until the day of closing, even after the closing had be delayed by a month to begin with. The clerical error ended up costing me another 100$ a month. Then you guys forgot to send the paperwork on the day of closing which jeopardized the deal again.

I have a bad experience for 3 reasons: lack of management, ethical issues, lack of compliance, and delay of information. First, the team lacks project management skills. They send requests without informing a due date. Then, they just call in one random day saying they need the information on the same day. I had to skip my job many days to finish requests that were not previously agreed with a date. Second, the team send me an estimate that made me choose your bank to work with. After some time, when we were in contract buying a house and couldn't change the loan company anymore you just changed the rates. You increased by 0.5% and almost $200 more in each monthly payment. The rate lock should have been done when we applied and not after. Wells Fargo for example made the rate lock as soon as I applied online. Moreover, you increased our down payment in the week of the closing because of a mistake trying to approve us as a low income, even after checking our documents and seeing since the beginning that we received more than the double of the requested for home instead. It makes me think that you are anti-ethical and provided me an estimate just to close a deal, even knowing it would change in the future. Third, you didn't follow a federal rule that states you should send the closing details 48 business hours before the closing date. I just received the information less than 4 hours before the closing. I had to run to the bank and delay the closing trying to solve all the tasks needed. Finally, you didn't send upfront a copy of all documents we had to sign in the closing. These documents should be reviewed by our attorneys before we sign, and not after. In summary, your process needs a lot of management improvement to be more transparent and reduce the stress you apply to your customers.

There was so much back and forth and screw ups regarding the contract. Told one thing at first then it changed

If Danielle knew how to perform her job properly and could manage to actually listen to her client. You all are not doing me a favor by taking my business, I'm doing you one but bring my business to you.

Better responsiveness to calls and emails.

Numerous attempts at contacting representative with no response on several occasions. This included telephone and email attempts at communication. I had to contact New American Funding on three separate occasions related to a lack of return communication. They also would promise communication regarding loan updates which I would not receive. I had to instigate communication during every step of the process. The loan amount was incorrect up to the day before the signing that was subsequently delayed (I had to pay for the delay in order to keep my rate). I also had an additional charge of $50.00 for more appraisal details. This was not communicated with me at all. I only received an email from the contracted appraisal company. I was also told I was going to have to pay an additional $100 in order to redo the loan documents that they messed up because nobody returned phone calls or emails and followed up as we had discussed would happen. They included my ex-husband in all loan documents which was communicated initially should not happen (main reason for refinance), and they also got the loan amount incorrect after appraisal was complete. Unfortunately I only continued with this company after my experience because of how far into the process I was. I will not be using this company for my investment properties in the future and will not recommend to others for primary residence or investments.