New American Funding Reviews

Lenders were impossible to get ahold of. Took over a month to close after they said their were ready. Requested info that was incredibly hard to get in this area and was not necessary.

Miscommunication between keara and other loan officers caused issues. Keara would not always fully reply to emails and questions so sometimes we had to ask multiple times or go to the person above her for answers.

Well we had to resend check stubs multiple times, the process took so long we were charged to keep our rate locked even though it was not our fault. And the monthly payments went up at least 5 times. Closing date was not met and had to be rescheduled.

There was a Huge lack of communication. I was constantly being tossed over to other agents. I started day one with you and had called you numerous times to have Jackie&Heather to answer questions. Also I did not receive the extra money that I spoke with you about and also Danny never received his full amount according to him. I am grateful that you got me into a loan, but really disappointed in the absence of your initial intentions from day one.

Unfortunately, we did not have a very positive experience with New American Funding. As first-time homebuyers, we were completely new to the process and entrusted New American to assist us. We wish we could have received more communication/explanation and accountability from the New American team. For example, we often received various application materials or documents through Docu-sign without an explanation as to what the document was, or we would receive multiple documents that appeared similar without any indications of the changes or corrections made. At various times when we asked for clarifications or to point out incorrect information to be revised, we were told to just sign, and they could fix it later. These minor exchanges really lowered our confidence in this process as first-time home buyers. We also had various occasions where we were told one piece of information and later found out it had changed or was incorrect. Additionally, there was a significant mistake made at our closing that, in our opinion, should have been caught and fixed prior to the closing day. There was no response for this mistake from the New American team until the closing was finalized. Even after closing with the title company, New American was calling us to ask what happened and that we would have to sign more documents because of their mistake. When we did hear from New American, there was no explanation other than to blame other members or that it should have been caught. This caused us a longer and more stressful closing day, where we had to pay additional money out-of-pocket that was not accounted for but should have been. While we understand mistakes happen, we also heard from our New American Team that this specific mistake has never happened before. We did not feel confident going into closing that the documents would all be correct based on our entire experience, and unfortunately, they were not. While this mistake may be small in the loan/mortgage field, this mistake caused significant stress and was not addressed sufficiently during or after closing. While the team we worked with was nice, we felt there were various mistakes and miscommunications throughout the whole process. We had an unfavorable experience and do not plan to use New American Funding in the future.

Everything

Don't lie to your clients

Unpleasant isn't a strong enough word, it was the worst mortgage experience I ever had. Very unprofessional. My credit score was over 800. I have gotten a mortgage with a credit score of 625 and supplied less info. I had researched your company before choosing them, not sure where the reviews came from. 1) I had to keep calling to get someone to talk to me. I was told someone would call and they did not, so i called back twice. 2) I asked if my mortgage would be sold, I was told no, it was sold before my first payment. 3) Some back office person, sent me a document directly to my gmail account that included an attachment with my SSN. Was sort of told, o well. So much for security. Since I had worked for the Federal Reserve Bank I know the importance of personal info security. The document wanted my signature to get the past 3 years tax docs, since my income was new due to retiring, i said it had no value, Marc concurred, yet at my closing I was forced to sign the doc or not close. 4) Another back office person sent me a doc to wet sign and return. I printed only to find it wasn't my document it was for someone in New Jersey. I responded with a wet sign of my original that I had e-signed. I asked where my doc had been sent and did not get a response or any reference to their error. 5) Did not appreciate the surprise docs in my closing. 6) in the past, with other mortgage companies, any accounts to be paid off, the checks were sent by the mortgage company. I was never told that I would receive checks via fed ex, that I would need to send out. A signature was not requested. I was calling my car note company asking why the payoff wasn't showing. I ended up calling Marc, who told me an envelope with the checks had been delivered the previous Thursday on Jan 27th. I found out about the envelope laying on my porch on Feb 1st, only because there was a package there i could see. Had I been told this was how things are done, I would have watched for the delivery, that lack of knowledge cost me money. 7) Was not told I would need to copy 2 forms of ID for the notary. I had to give her a copy of my license and my SS card. I do not recall ever having to do this is the past. Luckily I have complete ID, so I have locked my credit file so nobody can open any new accounts. I am more likely to tell others to NOT use New American Funding.