New American Funding Reviews

there was a large lack of communication, even when sendin specific questions the responses were little to none, never received an email saying my clients were clear to close and then left waiting at closing over an hour due to Nancy giving my clients 3 different incoorrect amount to pay at close causing them to have to go to bank multiple time and the worst part the amount needed to close was their 3.5% of the down payment, she kept quotting them a lower amount when they had a 96.5 FHA loan, I'm not sure why any lender whould not have been able to calculate that correctly, then each time the closing attorney said you still have not sent the correct amount she kept updating us as if she had to get the amount from someone else. At minimum they should have been quoted the 3.5% as the seller can not contribute to their down payment on a $575,000 home. The level of service, acuracy, and commumication was very minimal compaired to other lenders I have worked with inside and outside DBR. Would not recomend to anyone.

More knowledeable staff and better communication. Nobody I spoke to was able to sufficiently explain the loan estimate sheet or why what is essentially grade school arithmetic could not be presented as such. Even after closing on the loan I still don't really kno how much of the closing costs our downpayment comprised. Additionally, processing took longer than expected. Even after getting cleared to close by underwriting, getting the paperwork to the title company was prolonged and had errors that required sending back for correction multiple times. This was the 3rd house purchase we've and this was by far the most confusing and frustrating.

I represented the sellers. There was NO commuication and when there was a last minute delay, there was no explanation until after we passsed the closing date. I know the buyer ad buyer aget were alao very frustrated.

I did not work directly with or have any communication with Shawenti, so I cannot speak to any interactions with her specifically. What I can say is that the process itself seemed to be exceptionally inefficient. I was in communication with the other agent on almost a daily basis. We had very few updates and it seemed like the process dragged out, as evidenced by the four extensions that began before Labor Day. It seemed like there were hurdles that continued to pop up throughout the process. The sellers were quite frustrated with all the delays and uncertainty that were present throughout the process. With all of that being said, the ultimate goal is to close. And while it took over a month from the initial closing date, we were able to close eventually.

I started out with a good experience but unfortunately was told inaccurate information by Marcus. He explained that my loan would have a max of 3% change in APR with the variable interest rate. I asked twice to clarify it was for the life of the loan and not just a calendar year. When I called him at closing due to the discrepancy, he told me I had misunderstood him and he apologized that I was confused. I clarified that I had asked this question twice before and was told the same answer both times (both times incorrect). I am including the written conversation of what i was told September 11th. Amy: Ok. Question on the variable interest rate? I might have misunderstood but didn’t you say there was a cap of around 3% for the life of the loan? Marcus: Yes that is correct. In the initial disclosures, we have to disclose all the interest rates on the rate sheet, it is federal law to do so. In the closing disclosure you will see that you will have a maximum Margin of 3% on your final loan documents ??

Communication. I don't think it is reasonable to expect a lender in Pennsylvania to understand the BHM market & this loan evidenced that clearly. The assistant to the transaction was an impediment to the transaction the entire process. Multiple times documents had to be provided again and again that had already been provided to Sunee. One of the most confused loan processes I have been a part of .

While acknowledging Stephanie's transparency, I must express significant reservations regarding this company. I cannot, under any circumstances, endorse their services. The underwriter, Michelle, demonstrated a concerning disregard for client well-being, prioritizing sales over responsible financial practices. Her communication throughout the refinance process was notably deficient. Specifically, when an issue arose, and we promptly sought clarification, Michelle failed to respond, instead implying the matter was our responsibility. Had we understood the implications, we would have terminated the process. The intended outcome of the refinance was debt consolidation and improved financial liquidity. Regrettably, the outcome has been a worsened financial position. We intend to refinance with a different institution as soon as possible.

The loan process was extremely difficult - we were delayed a month out from our original closing date and had to extend closing multiple times. We had to make changes to the purchase contract for lending purposes after our original closing date. It took over 2 hours at the title company on closing day to finally get the documents sent over for the buyer to sign. A very unpleasant experience all around.