New American Funding Reviews

This company might be great with getting you the loan you need but once the dust has settled and you need them to help with a homeowner's insurance claim, they send you in circles. We recently had over 30k in water damage and had our insurance issue a check almost immediately. Nationwide is great! Aside from that NAF is now required to endorse the check and wont. They dont have a department with a working phone number for this matter. They have lied about steps to take. They are holding our check hostage and not giving instructions on how to move forward. Unless you plan on never having an occurence in which you will need to use your home owners insurance, I would recommend you do not pick the company to borrow from.

I am extremely disappointed at their customer service. I called them to set up auto payment, first they won’t accept no credit cards - they refer you to pay via western union - and then they give you options to pay either with checking account or savings. In my case I chose my saving account to pay from because I had more money into that account, I didn’t know that my saving account is a “non transactional” account, and the customer service didn’t clarify that either, this caused the payment to not go through and the next day I called again and this time I was able to pay from the checking account. I was charged fees because the first payment didn’t go through, when I dispute the charges I was asked to provide proof that my saving account is non transactional, to which I did provide a statement from my bank confirming that my saving account is indeed non transactional. Yet they have failed to delete the charges that was caused from their customer service inadequate information.

Loan officer admitted he was in the wrong and lost all of my earnest money (3k). Manager refuses to return phone calls.

I have held my mortgage with NAF for 3 years. They were wonderful at getting the mortgage set up and helping with buying homeowners insurance. In the 3 years I’ve had my mortgage it has gone downhill—fast. My loan officer- Rochelle Crowder, refers to customer service anytime I contact her, so much so that I don’t even bother with her anymore and go straight to the 800 number myself. The 800 number- laughable. They either flat out are useless or read from a script and are still useless. The only reason I am keeping my mortgage with them is because mortgage rates are 3-4x higher than what I currently pay. If that number changes, please believe I will be shopping for a new mortgage with a different company.

**PLEASE BE CAREFUL AFTER A YEAR WITH NAF.** Initially, everything was great. However, after a year, we started receiving unexpected charges. 1. Every year, they calculate an escrow account balance. We were informed that the escrow account was for paying PMI and hazard insurance. However, they also require a minimum balance that is about $400 higher than just the costs for PMI and hazard insurance. After a year, the required minimum balance increased for no apparent reason, resulting in a charge of almost $300. It felt like a penalty because that amount was not contributing to the escrow balance; it seems like a savings account for them. 2. This year, we opted for cheaper hazard insurance, which saved us almost $700. However, after recalculating the escrow balance, they informed us that our monthly payment would actually be higher because they claimed our taxes would increase by $30. I applied for a homestead exemption, expecting my taxes to remain the same or even decrease by May. Nevertheless, out of the blue, they stated that our taxes would be higher. It seems that the $700 we saved on insurance will not benefit us; they will keep it for themselves. Please be cautious about all the charges you may encounter.

The Loan Officer Brad Taylor cussed out my wife when we decided to go with a different company due to his lack of communication. At first he was good, but as soon as we chose him he disappeared. We tried to contact him multiple times from email, phone and text. He acted like a closer, close the deal then disappear. When we told him we decided to go with someone else due to this his response was a pity party of "i'm 100% commission pay, I've put a lot of work into this" Well we are both business owners of multiple businesses, we know all about that type of pay and if we disappeared from our customers like that we would be out of business. He finally contacted us back when he wanted an appraisal payment, we fired him during that call and he cussed out my wife.

Terrible experience with Marco Sanchez. He was not responsive and had deceptive practices that ended with a failed loan (after almost 3 months of processing!)

Never ever refinance with this company. We refinanced and there was a closing error ( on their part) on our property taxes and now a year later we are getting hammered with fees. This company has admitted it was their fault for this closing error but we have yet to hear back on what their going to do for us. We are looking to take our homeowners loan somewhere else. Ridiculous.