New American Funding Reviews

Unexpected delays and misinformation caused this process to be longer and more expensive than anticipated. More expensive in three ways: 1. Out of pocket (from $30 to $300) 2. Higher interest rate (from 5.75 to 6.5) 3. More closing costs rolled into the loan

Mrs cindy kolmeier.

Improve customer service.

MR. BARAC WAS QUITE HELPFUL! HOWEVER, THE UNDERWRITERS WERE MUCH TOO MUCH MISLEADING IN ITS REQUESTS FOR CREDIT INFORMATION!

I found several mistakes during loan process. Closing was delayed because subordination of existing HELOC hadn't been considered. We got our closing papers too late to review and I found our payoff amount was incorrect, based on a month-old loan balance, and so I overpaid at closing. To be fair, some of these issues may have been cause by the title co., and I realize volumes are high with current rates. TJ was responsive to my concerns. But overall not a great experience.

Internal communication needs to improve; there were too many peopel invovled at different points with no clear understanding who was doing what and why I was providing documentation to who; I provided documentation to one person only to have several others ask for it again when it had already been provided. The online portal system is not user friendly - there was inconsistency with uploading documentation there vs. emailing it directly - using the portal consistently would elimiante issues. No one went over documentations with us at any point throughout the process, I consistenly was the one reaching out about information - asking for updates on interest rates, next steps, where everything was. With the amount of people invovled it should have been a white glove process and instead it was hardly that. There was no clear understanding of the VA Renovation process - there was days delay of approvals becuase documents sat on the lender side of things and they asked for documents they already had which put us 3 days behind. Resulting in our closing being pushed back. Then the appraiser messing up the appraisal and there being nothing that can be done yet we still had to pay for that - which was absolutely wrong. We should NOT have had to pay for an appraisal that was done incomplete to what was ordered and asked and did not fulfill our financial request. I chose this lender for a specific purpose and that purpose was for a VA Renovation loan which was not fulfilled. It ended up being a conventional VA loan and I would have chosen a differnt lender that I have worked with previously for that had I known the Renovation loan was not going to be fulfiled.

We are frustrated. We don't understand how rates are under 7% yet we ended up with something well over. We feel the desire to lock us into a New American rate took priority over doing best by the customer. The float down option feels like a marketing gimic that only confuses people into agreeing to something that doesn't benefit them. We should have shopped around more and will do so when we can refinance. There was also confusion over someone changing our electricity without our knowledge.

(1) The final signing was done with a notary who's main concern was to tell me OVER AND OVER AND OVER that she could not give me legal advice (I never asked for legal advice). She also kept telling me that she had another appointment at 5:00. I'm paying "through the nose" for this refi, The notary kept making me feel as if I was an IMPOSITION to her schedule. (2) There were MANY errors on the package (did anyone ""BOTHER"" to check it before handing it over to me - - YOUR CUSTOMER? (3) Whomever copied the package "CUT OFF HALF INCH on the left side of EACH page. Whomever is making copies at that escrow: are they even checking to see what they are passing on to the customer? (4) On every R.E. package I've had in the past, I've always had the loan officer present during the signing of the final package. Not only I did not have a loan officer standing by on the phone, or present, but I was made to feel as if I was an IMPOSITION to your whole organization..... this while you people pay yourselves THOUSANDS from my loan. (5) Last, but not least: The appraiser sent to my place said I had to show a permit for the wood stove. I'll keep it short - - if the airhead had looked on the label stuck to one side of my home, he would have seen that there was a PERMIT NUMBER shown on it. However, he was quick at collecting $625. Never mind that his laziness cost me $210 to purchase a permit at L&I since I'm not an appraiser and I didn't know that the "magic" number could have been found on the house TAG. I explained this to Ashley saying that the appraiser owes me $210... The subject was changed very quickly. CONCLUSION You, John, couldn't have bothered to JUST GIVE ME A "CLOSING" CALL? - - CLOSE THE LOAN, - - GET PAID, - - MOVE ON TO THE NEXT SHNOOK?