New American Funding Reviews

Nick Palermo is TERRIBLE at getting back to people , he just leaves you hanging. Very unprofessional, if you say you’re going to get back to somebody you do it, unless you are unprofessional like he is. You don’t leave people hanging for weeks who are trying to buy a house and then just never get back to them ever again. He wasted 2 months of my time with his bs when he knew I was in a hurry to get into a house. Absolutely ridiculous.

DO NOT USE THIS COMPANY!!! I purchased a home from a friend, no agent or lawyer involved, and it should have only taken a few weeks to process. Instead, it took 3 months. I ended up having to stay in a hotel for 8 days because my lease was up and I still hadn't closed yet, and I was offered nothing but BS lies and excuses the entire time! I tired to get management involved, and it just got worse from there- I then had 2 people pointing fingers and not taking responsibility for mistakes that continued to be made.

Worst experience ever. Bait and switch. Liars, incompetent, idiots, they work from home so your information is unsecured over their home wifi

Don't trust this company. They will bend u over and give it dry.

I had a very disappointing experience working with Robert Maiale. Robert Maiale NMLS # 175566 LMB # 100054145 He pulled my credit without first verifying the numbers or confirming that the loan had a solid chance of being approved. This should have been reviewed and calculated before taking such a serious step. As a result, my credit score dropped by many points, and the loan was denied. I had asked multiple times to make sure nothing would negatively affect my credit, and yet this is exactly what happened. This experience felt careless, unprofessional, and misleading. I would not recommend working with Robert Maiale based on how this situation was handled.

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. New Edit 12/18/25: The public response below appears to be a performative PR reply to show "responsiveness". Trust me - I made multiple good-faith attempts to resolve these issues before posting this review, without success. No new information or resolution has been offered since. I’m leaving this update so future customers understand that the issues described above remain unresolved.

I have worked with new american funding for almost a year to close on a mortgage for a house that I already live in, my name just isn't on the paperwork. Unfortunately, I have not been able to close and the price they quoted me to close went up almost to 1/3 the value property and has been an extremely frustrating, expensive, and ultimately pointless process, and I would not recommend them for anything or anyone and I'm going to be looking for a different lender.

(Translated by Google) The worst real estate financing experience of my life. I bought a property as an investment and constantly informed the agents that I don't have a residence in the United States and that I was only an investor. They made such a mess of the contracts that even the notary criticized their work. I had to travel from Brazil to close the deal, even though I was initially informed that I could do it online. In less than a month, they sold my financing to another company, and this other company has no customer service outside the United States, no phone number, no email address for contact. Even though New American gave me an investor rate, making it clear in the contract that it was an investment property, they transferred me to a company that I can't even track my financing from; I can't access the website, and the phone number only works if you call from the US. It's absurd; they wash their hands of it and treat me as if they weren't the ones who created this whole problem. Irresponsible company, without commitment. They were quick to take the 40% down payment and investor fees, but when it came to making sure I could communicate with the company to which the financing was sold, they didn't care. Trash company. (Original) A pior experiência em financiamento imobiliário da minha vida. Comprei um imovel para investimento e a todo momento informei aos agentes que não tenho residência nos Estados Unidos e que era apenas investidora. Fizeram uma bagunça nos contratos que até mesmo o cartório criticou o trabalho deles. Tive que viajar do Brasil para fazer o closing, mesmo sendo informada no início que poderia fazer online. Em menos de 1 mes venderam meu financiamento para outra empresa, essa outra não tem nenhum tipo de atendimento fora dos Estados Unidos, nem um telefone, nem email para contato. Mesmo a New american me dando taxa de investido, deixando claro no contrato que era imovel de investimento, me passapara uma companhia que nem tem como eu acompanhar o meu financiamento, nao consigo acessar o site, o telefone só funciona se for dos EUA. Um absurdo, lavram as mãos e me tratam como se não fosse eles que criaram todo esse problema. Empresa irresponsável, sem comprometimento, na hora de meter 40% de entrada e as taxas de investidor fizeram, mas na hora de cuidar para que fosse possível eu me comunicar com a empresa para qual o financiamento foi vendido não importou. Trash company.