New American Funding Reviews

Bryan hull lied to us for a month and left us 30 days to try to find a lender and move and everything i would find another lending company they ask for paperwork that u dont need and hook u up with a agent that doesnt help at all !!!!! GO SOMEWHERE ELSE TO TRY TO GET A LOAN FIRST !!!!! IF U HAVE TO MOVE OUT DONT TRUST THEM U WONT GET A PLACE IN TIME !!!!!

I recently refinanced my home and got a good rate but I was lied to by Pouyan Narani. I was told New American would allow bi weekly payments and apply them as soon as payments were recieved in order to save on interest and pay the loan off faster. I just recieved a email that the bi weekly payment option only helps with “budgeting” and they don’t apply the 1st payment until they receive the other half of the payment at the end of the month. This will not help cut the interest paid over the life of the loan. So beware of deseptive salesmen like Pouyan Narani and get everything in writing!!

The closing statement changed multiple times with very little communication from the lender. $3000 PMI was added to the loan at the last minute, which put the loan over the 80% LTV threshold. I was told that the 79% loan to value would increase the interest rate due to the lender viewing this as higher risk! What?! I was later told by a realtor this was bait and switch. Poor company to do business with.

Avoid like the plague. Almost lost the house I was closing on because of a clerical error that was caught at 4pm the day before closing which required me to provide 6 more months of reserve funding and essentially forced me to go up on the rate to avoid paying higher closing costs. To top it off, they failed to send the paperwork to the closing attorney on the day of closing, almost forcing me to delay closing again !

Chad Church has called me 56 times, from one number, and an additional 9 times from restricted numbers since January 2nd, 2020. I stupidly gave my info on credit karma for home refinancing info. He likes to leave (self described as longwinded) voicemails about how he can't imagine why no one would want to take time out of their day to chat with him about whatever amazing new rate there is. Over 60 calls later and you'd think dude could have taken a hint that it's clearly not me.

If I could give -zero stars I would! I found this unethical company on credit karma. we were pre-approved for a 3.25% interest rate for a cash out refinance. It was then that I was contacted by Alejandro Siqueiros, while talking to Alejandro he offered me the same loan at 4.5% That should have been my first red flag. I explained to Alejandro that I was already pre-approved for a 3.2% cash out refinance. He then stated that he had to talk to his manager to see if they could honor the rate I was given online. I was called back by Alejandro and told that they would honor that rate, I was very happy about that. I began giving Alejandro and his assistant all the necessary documents to move forward. It was then that in a conversation after checking back with Alejandro time and time again that I asked Alejandro was everything going well? He then told me yes, and that as long as my appraisal came back with the correct figures that we would be fine! (2nd Red Flag) he kept referring me to his assistant which was not a problem. During our next conversation Alejandro explained that the loan disclosure were read to sign and not to worry about the numbers as they would be ELEVATED (3rd Red Flag) when we reviewed the disclosures the numbers elevated and we confronted Alejandro. He told us not to worry that those were not the final numbers. we explained to Alejandro that if those aren't the final numbers then why are we signing it? why would we agree to pay more for something? He assured us that the final numbers would NOT be that high, so reluctantly we signed it. I later found out that we were being overcharged for certain services. Which brings me to my Appraisal. I was called by Property Rate LLC. Orange, Ca and asked to pay for my Appraisal upfront and was a little upset because mind you this was supposed to be a NO-FEES deal, once again Alejandro explained that we would get that money back. so we paid for it and set up our appointment with Derrick Washington our Appraiser. Derrick came to our home, was very standoffish and didn't ask us anything about our home! nothing about improvements. Derrick was in and out very fast! too fast if you ask me! about a week and a half later I was contacted by Alejandro and told that my Appraisal came up $20,000 less than I thought! (4th Red Flag). It was then that I requested a revision from Property Rate LLC Orange, Ca. I sent them comps in my area! I was told very fast that they would not revise my appraisal. We have been in our home for 23 years and I know what my home is worth. After going back and forth with Alejandro my time ran out for my rate lock because of the delay of the Appraisal report! I couldn't accept the a deal because I KNEW my appraisal was inaccurate. I then sat down and went through my appraisal slowly and discovered that my appraisal was missing key amenities IE MY POOL! my pool, outdoor kitchen, fire pit and other amenities were missing! Derrick took photos of side of my home which captured the EDGE of my pool, but failed to take a photo a few feet over to capture the pool and then turn around and get the bbq island and fire pit. I feel that this HAD to be intentional. I contacted Alejandro and Property Rate LLC and pointed out that they totally botched my appraisal and ask if I could get my rate lock? After going back and forth over and over with the lender and the appraiser they saw that I was correct all along. I then got a call from Derrick Washington and he left a message asking me to take photos of my pool! I paid 475.00 for a bad appraisal. Derrick came back to my home, unauthorized and took a photo of my pool. The photos in the original appraisal and the revised one are different. I have requested a refund from both New American Funding and Property Rate LLC. as of today 6/25/20 I am getting the runaround from Alejandro because we would like our original rate lock and we would like to move forward with our cash out refinance. I'm notifying the state attorney general and the fair credit reporting agency today! Beware! This is all because of a 3.25% rate!

I found this lender thought Zillow. They offered me the lowest rate quote. When I contacted them they told me it was accidental and that they would honor the rate but charge me higher fees. Our credit score was excellent, our house appraised above what it needed to, ltv < 75%, our debt to income was within range, income verification was fine but they were still unable to close. We purchased a pv solar system for our home and although the appraiser said that it had no negative affect to the home value and gave it no additional value due to being able to find comps with solar they said they were able to close. We wasted over 40 days working with them and they lack the experience and knowledge to make this loan work. When confronted with an issue it will stop them in their tracks. You should be looking for someone who is a problem solver that looks make thing work. They are purely volume based business and don't care if they lose you business, Adam rose made that very clear when i spoke to him on the phone. My recommendation is find a truly reputable broke that has the experience and that will be your advocate. New American funding is not a good choice.

Very poor experience dealing with Fischer Lambert and Derrick Thorpe. It took almost a week to "lock" in the rate at which time it went up almost a full point. Underwriting approval took well over a month with repeated requests for documents that I could have provided in the very beginning. We almost lost the home to cash buyer. After the loan closed and was funded any requests for cusotmer service were deferred to either the website, app, or the general customer service line. When they're done with you they are done with you... I'll probably end up having Network Capital get me another rate as even now with rates much higher they have a better one at no cost.