New American Funding Reviews

I recently did an application online with a representative named Paul. I explained to him that I recently left the education field of 16 years and was working part-time and self employed. Paul proceeded that we run our credit application to see if we qualify. I knew we had the credit from the jump it was the employment i was concerned about. Now today when i called he said oh you need 2 years of FT employment. I said why you never said that initially before running my credit. Paul response was we ASSUME you have 2 years. I don't know what kind of business practice this is but I am not happy with these practices. I want this inquiry removed from my credit history because of his lack of transparency up front. BEWARE OF ASSUMPTIONS WITH THIS COMPANY,

Jon seemed like a great loan officer to me at first until his real colors showed. I asked Jon if he'd be able to match another loan I was looking at. He told me that if I got all my documents in on that night, he'd match that loan by getting exceptions. I got my documents in and be did not get me any additional discounts. When I asked about this, he kept lying to me about it and was condescending and talked over me. Even after talking to Jon's manager, Ryan King, I was told that there was nothing he could do to make things right even though I had proof that Jon promised this to me. I feel taken advantage of and did not feel like either respected me as a customer or a person.

Worst company ever!!!! I felt like it was a scam. 4 months to close a file. They have no clue about title and escrow. Be aware it took an additional month to fund. No communication!!! Did the old car salesman trick. Sent me to another loan officer to deal with delays. Delayed for months with no reasons.

Do not walk run away from this company! I have done over 25 real estate loans. This company is literally the worst experience I have ever had. I had dealt with James McKibban the Branch Manager when he was at another firm, but things dramatically changed. I am refinancing 3 investment proprieties with them. They are impossible to reach, do not return phone calls, have zero follow up. They promise items they never deliver, try to change terms etc. I paid for 3 appraisals. 2 of them they did not accept and had someone who never saw the home write up lower appraisals. They are completely unethical in how they conduct business.

I do not recommend this company to anyone who who needs to close on time. This whole experience has been a nightmare and the only saving grace was the realtor they set me up with. My closing was delayed a week because my agent failed to realize the documents would need to be mailed out to me (during covid). Keeping in mind I was in another state than her and seller was in a different state than me. Also she was still requesting bank statements and other paper work the day of the supposed closing so it couldn't have happened anyway. Avoid this company at all costs!

Shannon Vaughn is the WORST person I have ever done business with. I am self employed and from the beginning of the refi I told him that. I shared P&L's along with tax docs to prove income. He said "Yeah shouldnt be any problem to get this done lets move forward" Well they ran my credit and made me pay for the $500 appraisal. Not a big deal there but then he went ghost, good luck getting a response or communication from them. Now we are going on 8 weeks or more since we were supposed to close on a refi. Shannon and his company took my money, dropped my credit score so now I cant get the same rates and are no longer answering the phones. What a joke of a company. There will be legal actions pursued for affecting my credit score negatively as they did.

I dealt with a loan officer named Chris Cooke and all he did was lie and acted like everything was set in stone. He even had me pay $525.00 for an appraisal. He told me to fix a few things on my credit report, that I am currently working on and told me to contact my creditors in which I did and also asked for my mortgage pay off. He then said he could not close on the loan so I demanded a refund for the appraisal and they did refund me by check. Then they had the guts to send me a denial letter saying I did not have the funds to close. They never asked me for any funds! Beware of this shady business.

I had a very bad experience with my 3rd loan refinance. The loan was sold and I wasn’t notified. I found out when I received an insurance cancellation. I then had to call my company and the new mortgage company to straighten it out. The person who handled my refinance has yet to follow up. Two days ago I find out both my policies weren’t transferred over which once added will increase my note to more than it was before my refinance was done with New American Funding. It also created an escrow shortage which I have to pay out of pocket or have my note increase even more for 12 months. I’m furious with the inefficiency of my loan officer. The worse thing is that this company had all my information and still did a poor job! I will never recommend them to anyone. They called and called me to refinance my loan!