New American Funding Reviews

If you get a mortgage through New American Funding note they have a marketing team that will call you every week for the rest of your life. It started about a week after I closed on my house when someone called and asked if I wanted to take the equity out of my home and refinance. Even worse as interest rates were rising they kept calling asking if I wanted to take advantage of the 'new lower rates' and refinance. The rate was 100bp's above my rate but they don't care. The sales people have a script they read it and then call back in a few days and do it again.

Horrible service from this company. Really disappointing. I was trying to refinance my home with them since February. Every week they wanted something new, which is sometimes how this business goes and not why I am giving one star. The problem is that I continuously asked for them to be honest with me and they weren't. It was always"we should be good this week". Then they stopped returning emails and and phone calls. I called and left my loan consultant Drew Haberl 17 messages that were not answered or returned. I also left messages with his manager and the supervisor of his manager and even though all of their voice mail messages said they would return the call within 24 hours none of them called me back. I ultimately went with a local company who got me a better rate without any of the hassle. If you are thinking of using these guys, i would strongly recommend using another local company.

My loan officer Naomi was amazing. She went above and beyond her job to help me with everything, even by helping the processor and verification do their jobs!! The processor and underwriting on the other hand were terrible. Very unorganized, and petty beyond belief. Literally dragged the closing out for 2 months asking for each document one by one and taking two days to respond about each document, not to mention they asked for some things that literally made no sense. I had to change closing date twice due to this. Then wants to rush at the end, trying to force me to close on a date that is inconvenient to all parties, because my locked rate was expiring and they didn't want to pay for the extension, after extending the process for as long as they did suspending my file every other day for these documents. They literally sucked the whole joyous experience of buying a home from me.

The whole experience was painful and unpleasant, as Cheryl was uncommunicative, could not delivered the rate as originally quoted, and her words changed multiple times. Had to call many times to follow up during closing and funding process, and almost missed the close deadline. Very unorganized, unresponsive, or good customer service. Will definitely not recommend anyone if they want a smooth loan process.

I definitely encourage others who are looking to use New American Funding to consider another company. My spouse and I ended up waiting 5 months to close and get our money. We were guaranteed a lower interest rate initially, and receiving updates from NAF was very challenging. Some of our questions were never answered and, unfortunately, we invested too much money by the time we realized this company operated so poorly and are now stuck with them. Please don’t make the same mistake as us.

I had a very disappointing experience with New American Funding. My loan officer, Cynthia Achermann, was great to work with, but once the rate was locked everything went downhill. My processor, Cindy Lamm, was extremely unresponsive—usually only sending one email per day, often at midnight. The underwriter, Tim, also didn’t seem to have a clear handle on the process. I constantly felt like I was the one doing all the work figuring out the issues, which should never be the case when you’re paying almost 3 points for their service. At one point, I was even told that I had to reach out to the city myself to resolve an easement issue in order to close my loan. They locked my rate in mid-June, but by August 11 I ended up walking away because they wanted me to pay to extend my rate. I switched to Lendplicity and was able to close my refinance in just two weeks—something New American Funding couldn’t manage in nearly two months.

Absolutely horrible Company and ridiculous policies.They double deposited my mortgage payment, leaving me to have to pull funds out of my 401k to pay my other bills at a cost of 20% interest in taxes, as they required 7 days to process a refund along with submission of a bank statement proving the funds had been processed by my bank, even though they already showed they had received the funds. And why in today's work of technology and instant process would they require 7 days to process a refund. Funds were due to refunded today and I am still waiting past the 7 days and now they way it will take another 2-3 days. Are they paying all my late fees due to this? I highly doubt it. STEER CLEAR OF FUNDING A MORTGAGE THROUGH THIS COMPANY IF YOU DON'T WANT TO SOMEDAY HAVE TO GO THROUGH THIS YOURSELF!!!! Once rates go down (or if I can find a good rate), I'll definitely be refinishing to another Company. Looking for a new loan now. I've been an excellent customer for over 20 years with an excellent FICO over 800 so I certainly deserve better treatment than this. Buyer beware!!!!! I had to give 1 star to post but they certainly don't deserve even that. I have to scratch my head at the 4.9 ratting as I cannot fathom who would think they are a good company to do business with.

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.