New American Funding Reviews

I will not mention the agents name but I was really disappointed with the misinformation of how much my Apr would be for my mortgage assistance loan and my actual loan and secondly how much cash I would need to close. I had been following Credit Karma’s advice on repairing my credit and using company’s suggestions on who to use for loans and financial guidance My first red flag was I am in Arkansas and he was in California. They don’t think we are that smart He had all my bank statements, check stubs and W-2 I was quoted 0% interest on my $6000 assistance loan and 7.5% on my main loan in which I though was an excellent deal only to receive a phone the next day hey it’s 9.99 % His only response to that mistake was that it was on me. No I am sorry. He then proceed to send a good faith estimate of $11,000 cash to close when I I had was $9000 in the bank At that point my left brain told my right brain that I wanted to look the loan office in the face so I could read facial expressions read his body language and make eye contact so I decided to cut ties with New American Fundind

I informed Hoang Blias at the beginning of the process that we were on a strict timeline because our landlord was selling our home. Due to slow communication within your company, my closing date was pushed back 10 days passed the original 45 days. Because of this, instead of having 12 days to prep and move, I had to move in 36 hours. In addition I was still being asked for information the day before closing. I had to hound my employer HR to expedite their processes to be able to close before my family became homeless.

Loan finally funded, but was charged for prepaid interest for days when funds were not available..... add that to the longer then needed process and the lack of communication and lies from originator and you have someone who will never use or recommend them......

Let me say I'm still waiting for my money. Signed/notarized papers on Saturday July 26th, 2025 was told funds would be in my account on August 1st, nothing. August 2nd at the latest, nothing. Right now no money maybe August 4th. We'll don't believe them. They're promises are ....Shop for another company.

**Excessive Contact and Unprofessional Service - Avoid This Lender** I am extremely disappointed with the unprofessional handling of my loan application by this company, specifically by a Senior Loan Processing Officer. **What Happened:** Over the course of 6 hours, I received 9 phone calls and 6 emails from the same loan officer. This excessive contact was disruptive to my work and personal life, and completely unnecessary for a standard loan application. **Major Issues:** • **Unprofessional Communication**: The emails were poorly written, lacked proper business etiquette, and failed to clearly explain what was needed or why • **No Clear Urgency Explained**: Despite the bombardment of contact, none of the communications properly explained any legitimate time-sensitive requirements • **Their Mistakes Became My Emergency**: The reason for all this frantic contact? They made errors during their initial processing and expected me to rush to fix their mistakes • **Stressful Experience**: What should have been a straightforward loan process became a source of anxiety and pressure **The Real Problem:** This wasn't about legitimate business needs - it was about poor internal processes and unprofessional customer service. When a company makes mistakes, they shouldn't make those mistakes the customer's urgent problem. **Impact:** The excessive calls interrupted my workday multiple times, and the unprofessional emails created unnecessary stress. I felt pressured to respond immediately to correct problems that were entirely of their own making. **Bottom Line:** If you're looking for professional, respectful loan processing, look elsewhere. A company that can't manage its own processes properly and then harasses customers to fix their mistakes is not one you want to do business with. **Would I Recommend?** Absolutely not. **Would I Use Again?** Never. *Update: I have filed complaints with the California Department of Financial Protection and Innovation regarding their communication practices.*

I am disgusted by the way New American Funding operates. I honestly can not believe they are in business. I was pre approved back in November. Gave them all the paperwork and information needed while continuing to look for a house. I was able to find out at the end of Jan with a closing date set for Feb 24. I was told everything went through and all I needed was to wire the down payment. The closing date had to be extended to March 24th due to repair issues and getting the money transferred. I originally had Joseph Longo as my loan officer, who monitored my whole progress. He called me 2 weeks before close and said he got promoted so he no longer has my loan and it is being transferred. I get a call Feb 19th (1 week later) saying I am sitting with no approval. 3 DAYS BEFORE CLOSING. I am having a meltdown because how unprofessional to let me know I can not even close that close to closing. I spoke to his boss, Jason Miller, who is just as incompetent and was unable to close it. The sellers upped the price on me since I had to request an extension. I had to quick find another lender to push my loan through in days due to the incompetence of New American Funding. NAF cost me THOUSANDS OF DOLLARS. Never even got an apology, no sympathy at all. They are unprofessional and caused me so much stress on top of it. Do yourself a favor and go elsewhere. Thankfully I was able to still close on my house and move. I am currently trying to take legal action for what they did to me.

BORROWER BEWARE – I have nearly perfect credit, very strong assets, and was applying for a modest loan amount. I was told over and over it would be an easy loan. New American Funding revoked my first approval because the appraisal labeled my property “rural” — even though it’s inside city limits and the value came in well above what was required. This came after they told me I was “good to go” and wanted to schedule closing. They quickly switched me to another loan product that would supposedly solve the “rural” issue. That second attempt made it all the way to “Preparing Notary Documents for Closing” before being denied because my home is in a trust. No warning. No chance to fix it. Just repeated hard credit pulls damaging my score. If they can pull the rug out twice on a borrower like me, they can do it to anyone. Proceed with extreme caution.

My Loan Consultant at NAF told me they would never sell/transfer my loan. He lied. Just got a letter today they they transferring my loan to a very poorly rated loan servicer (8 days notice.) They are clearly not honest and do not sell your loan to reputable companies. I can't recommend New American Funding.