New American Funding Reviews

Sonyia initiated contact via text. I compared lenders and we ended up signing paperwork to secure the loan through NAF. There were two separate occasions between paperwork signing and actually receiving clear to close that I reached out to Sonyia via text for questions and updates only to receive a "Who is this?" in return. Extremely frustrating given she initiated conversing via text and we had already signed paperwork to pursue a loan via NAF. In previous experiences with securing a loan through a different company the loan consultant had my number saved in their phone and would greet me by name. So this was a stark contrast from our preferred lender. Then, between initial paperwork signing and receiving clear to close I reached out to Sonyia and Tommie on multiple occasions asking if additional information was required from my spouse and myself. Radio silence on multiple occasions. I had to get my real estate agent involved before they started engaging in consistent communication. I understand I was being proactive and there may have not been action needed on my part, but I was very clear that my spouse would be traveling out of the country for work, so I was trying to complete tasks around his scheduled time away. Therefore a simple response stating nothing is needed and letting me know when we would be contacted next would have put my mind at ease during a very stressful period of time. Again, a stark contract from our previous experience with our preferred lender, as they were excellent at timely and clear communication within 24 hours each time I reached out. A week out from closing we were notified that NAF was having trouble confirming my spouse's previous employer. They asked that he reach out to the previous employer directly to have previous employment confirmed for NAF, else we did not meet criteria required to close. Once my spouse made contact with his previous employer they said "We can give you this information, but typically the company providing the loan contacts us directly." Needless to say, once my spouse relayed this information to NAF he was abruptly told that NAF had already sorted it out and he no longer needed to do anything to confirm previous employment. Likely a miscommunication somewhere along the line, but I highlight the experience as it caused us significant unease a week prior to closing. Finally, I was thoroughly irritated with closing process. We had stated we wanted to put Y amount towards closing. The week of closing we were told we were required to put X amount towards closing. I was frustrated as we wanted to put the larger Y amount towards closing to secure lower monthly payments. I was then told that although the X amount was a smaller closing number than the Y requested, we had actually put an even larger Z amount down (exceeding the requested Y amount) considering the earnest money we paid. This justification was frustrating, as regardless of how you looked at it we either did not hit or we exceeded the Y amount we wanted to put towards closing. When I was adamant about still wanting to cut a check for the Y amount planned I was informed if we wanted to put more towards the loan, then we could apply it to the principal after we closed, but our monthly payments would remain at the higher rate. This justification did nothing to ease my frustration, as I still had higher monthly payments and I was told that I didn't put the Y towards closing that I wanted. Again, a stark contrast from our previous experience with our preferred lender, who reviewed and locked in numbers with us one final time - just in case we wanted to tap into a little more cash for closing - the ~1.5 weeks before closing. The cherry on top of our already poor experience with NAF was sitting at the closing table and waiting, waiting, waiting for the funds to be sent to the seller. Even the seller made unsolicited comments that they usually didn't have issues with it taking that long to transfer funds with NAF. Funds were ultimately transferred, but after our previous challenges with communication with NAF we were not surprised by the delay. All in all, the communication with NAF was dismal throughout the process. We went with NAF because it was the seller's preferred lender and they would provide additional money towards closing costs if we used one of their preferred lenders. This would have been a prime opportunity for NAF to win over a Customer for repeat business with any future purchases or refinancing opportunities. NAF did not win us over.

Clear communications and avoiding multiple mistakes

Better communication. Better explanation of the process and numbers regarding the house. More streamline process, preferably less emails for documents. Actually pre-approve us, not pre-qualify us and call it pre-approved. Loan processor (Jordyn Flores) was extremely difficult and rude. Honestly a nightmare to work with.

After requesting that he not email the Buyer (my client) and the Listing Agent in the same email (not BCC), he continued to do so giving the listing agent direct access to the buyer if they wanted to use it instead of going thru the buyers agent (me). The numbers were sent over to title late and the buyer had to wire funds minutes before closing so was unable to get their keys til the following day when those wired funds arrived.

Michelle, the loan processor, saved the deal and the day. Jacob, my loan originator was missing in action when I needed him the most. He ignored emails and requests for calls for clarification on disclosures and status. My experience could have been improved if my loan originator communicated. Michelle is really a gem and helped this entire process not fall apart. I will be refinancing with another lender in the new future due to this experience.

Lack of communication. Would rather of used a lender that was more personable

Branch Manager Chris Drexler was rude, talked on top of me, didn’t listen when I tried to explain my previous home buying experience/record and financial situation with multiple businesses. He asked for additional documentation and said it needed to be rushed, which led to me incurring additional personal expenses. Turns out those documents weren’t needed in the time frame he said. Unnecessary scare tactics that led to a huge breakdown in trust. Because he didn’t listen as I outlined that I previously sold a home in Fall 2021, this led to him switching my loan from 3% to 5% down just a week or so before my closing. This was not due to any new information, just him not listening to understand that I would not be eligible for a new homeowner credit. So he sprung that up on me with short notice and didn’t really apologize for the mistake. Just moved along. Additionally, he used scare tactics and encouraged me to file my taxes on my own over a holiday weekend even though I told him I had a CPA and needed to talk to them. I only continued in the process with the encouragement of my realtor. He left such a bad taste that I was willing to just look for a different property and began working with another lender as a backup. The only thing that salvaged this process for me was the handoff to a competent and understanding processor, Angel Huff. Because it was handed off to Angel, I didn’t have to communicate with Chris anymore and thank goodness for that. My experience would’ve been better if Chris had some customer service training, listened to clients without cutting them off and saying how busy he was, and didn’t make rude and inappropriate comments based on the financial documents that were supposed to be used for loan qualification.

Making sure all of my papers was completed b4 telling me the day b4 closing that I could not close on this day. I had everything setup to move and had scheduled the day off and moved my weekend to work because I was told I would close that day. Very disappointed and now my schedule is so freaking off because I am scramble to get everything done. But thank you for the experience...