New American Funding Reviews

Our loan must have been our agent's first close. We were over 30 days late to close because the lender never communicated with the title company then charged us a fee for the delay. They were terrible. I've closed on several homes in my life. Two in peak markets in the late 1980's and the early 2000's. And I have never had such an inept lender.

Incompetent, we had to sign closing paperworks twice and there were still errors. When it was brought to their attention, matter was not resolved. Now the title company has to reissue a check to pay off creditors when it could have been fixed when New American Funding was first alerted.

Unorganized, bad communication, phone calls went unanswered and email responses delayed at critical moments during the loan process. Very stressful at times during the loan process. Incorrect wiring instructions where giving so the wire down payment went into the wrong account. I have two stars rather than zero because the loan agent was pleasant and we did eventually get the loan finished. However, I wouldn’t use this company again.

If you have never gotten a mortgage, I wouldn't recommend this company. I have bought and sold many properties, so I knew what to expect. They will not know what is going on, there isn't enough internal communication, and you'll be inundated by solicitations once you put your name in.

This rating is getting two stars because of the inconsistency of the service during my refinance experience. As a human engagement professional in the healthcare world I know how important consistent communication, competence and compassion are in any experience. The experience started off incredibly with Pouyan as the lead; he’s professional, prompt, courteous and very competent. He did a great job of informing me about and through the process. Highly recommended. The issues started when my loan was transferred to the loan processor. I went from being well informed to little to no information. Stated timelines passed without notification or engagement. After reaching out and trying to figure out what was happening, I finally received some sparse communication and questions about whether or not I would paying my mortgage payment for the supposed closing month. Being advised that it would be included in my refinance, I redid my zero based budget and took advantage of the well timed relief in the midst of the pandemic. I was called towards the later part of my closing month to be told that mistakes were made and my closing would be pushed back to the following month and that I needed to make my May’s mortgage payment. Here’s where the competence piece comes into play; there are obvious process issues that would allow something like this to happen or training was not comprehensive enough to ensure these types of mistakes would not happen and negatively impact the customer. When elevating my concerns, I was passed to a manager who called lacking in empathy or even an apology (until her approach changed and an apology has been offered at the end of the call: unfortunately the damage was done at this point) for the obvious mistake made. I was asked, “what do you want me to do about it? People make mistakes you know! She’s super busy because of how much we have going on right now.” (First of all, this is an internal company problem; if your teams are so overworked that they are negatively impacting the customer and costing them money due to costly mistakes, that is a problem that needs to be addressed. Staffing is not the customers problem until it is.) So here’s where the breakdown occurred at an egregious level. A mistake was made due to broken processes that speak of overwork, lack of quality checks, lack of supervision, etc. And yet, when these broken processes are identified, that’s when a responsible professional would call with an apology not apathy, blame and defensiveness. If you fail the first time, you certainly cannot fail the second time. This unfortunately was the case. At this point, recovery efforts were useless. The apathy was well touted. Recommend that internal processes be reviewed and quality measures be put into place. It’s a shame that your broken processes overwhelmed the professionalism and positive aspects of the initial experience.

I was refinancing and show them on credit karma. They starts off telling great things to get you to work with them. 1st closing documents looks good but we're it ended. My cash out just go down and down They that it gave to different closing date and no showed up or even called to no one was coming. I believe it was so the give less cash out but it work. When I finally realized it but it was doing it was too late I was just too far ahead With the process. I gave it to stars because the loan officer was actually OK but that it

My complaint is that this company waited nearly three weeks after the successful bid to even start processing the file. In the last week, I was asked for an insane amount of information, and everytime I submitted something, the processor would tell me "we have everything we need" "we'll be done very soon" this went on for a week or so. Like... They argued for nearly a week about a bank statement I provided because it apparently needed to be a full page photo... And then waited until the day before closing to tell me that I needed to contact my lawyer for documentation to provide proof that the account was even mine?! AND this was *after* I was told "don't worry about it. It won't be an issue" going into the weekend before when I specifically asked so I had time to get the documents I might need? I also had to schedule and run to the IRS office in breakneck speed. While the processor was kind to say "I've never seen anyone get through the IRS that fast"... It should be a clear indication that you should be asking people to schedule appts with those offices way before when I was asked to. I frequently would submit documents, and not get a message or even a recognition of receipt. There was a three day gap in communication at one point. The processor apologized after I emailed her again... But I shouldn't be having to ask my company for information... They're supposed to be working on the file and guiding me. Requests made weren't particularly clear. It would have helped being asked for specific documents... Most often I would just get something like "do you have anything that says..." Or "we need something showing that...", I would turn what I had in, be told "yep, this is what we need" and then find out a couple days later that it's not sufficient, they need *this thing*... Which I could have provided days before had I been asked for it specifically. Most of the time I would turn stuff in in 20 mins from being asked for it, and then not hear anything at all until the afternoon of the next day... It was very frustrating. My realtor started stepping in the day before closing and pushed to close on time because the loan side of things kept asking to push closing back... so the "resolution" to get us to close on time was to make the file a "priority"... The day before closing. I felt that considering what was going on, it should have already been a priority, and the only reason it got to be was because my realtor pushed the envelope when I was getting the run around. Suffice it to say, I felt extremely confused, concerned, frustrated and had to jump through so many hoops to close on time. It was a particularly difficult experience and while I'm glad to have the loan finally, I don't know that I would recommend NAF to a friend.

**Don't be fooled by the ratings** I saw the ratings and decided to give them a try. The guy that took my file was extremely confusing among many other things. To make a long story short, he started out sounding confident and spoke highly of the company...as time went on, he was extremely slow in responding and getting back with us. Before we could make it to closing there were lies, contradictions, and a lot of confusion. The quoted amount continued to change far above an estimation range. By the time we got to the end he sounded like the worst used car sales man, just trying to make a buck. The entire deal fell through. However I have to add a star for the co-worker who was very nice and tried to fix the mess. I only wish I had her from the beginning.