New American Funding Reviews

Im not upset about it taking so much longer than it needed to, mostly upset due to employees at NAF agreeing to closing dates and shifting them multiple times.

As a real estate agent, this is the worst experience I have had with a lender to date. Everything was going great until the week before closing. We were supposed to close 2 business days before the date listed as the "close on or before" date on the contract. Bryce said they would be able to accommodate this date without any issues. The day before we tells me this isn't going to happen, but we should be able to close the next day. Then, all communication from Bryce ends and Cynthia Savala becomes the contact person. They could never get us clear to close and could not give me, my buyer, or the closing attorney any information as to why there was a delay. They did not answer any phone calls , avoided my questions in emails, and kepts saying they couldn't give me answers. They pushed our closing back until the contract technically expired. We ended up closing 3 days after the date on the contract. Because of their negligence, this lender almost cost my client her house. I would never reccommend Bryce or New American to anyone.

We had initially $3000 in seller credits but no one thought it was necessary to tell us that only 2% of the purchase price was allowed of seller credit on an investment loan which was half of $3000. We had to ask the day we were going to sign and close to clarify. If we didn’t ask no one would have told us anything.

I don't believe Donald has enough experience to work through these type of loans. Minor Mistakes which turned into huge issues caused a huge impact on the clients contract, Not returning phone calls in a timely manner, or even understanding the process. Me having to coach him on how to do his job or guide him to the solution still didn't click with him. Calling his VP - Chris to get this client to the closing table and telling the VP what needed to be done to rectify the mistake should not be the job of the realtor. Looking back this was not just 1 mistake on a crucial part of the contract, Knowing what I know now and looking back through other contracts that this client wrote - Each offer/ accepted contract was a failure due to the Loan Officer not understanding the products, or the process, The loan portion was incorrect, Promised rates to the client, unfulfilled. My clients loan and the mistakes should be looked over by management and she should be reimbursed for the amount of errors to make things right. NAF is a preferred lender of mine and this transaction was shocking to say the least. I will not be recommending any NAF loan officers outside of my local contacts.

Valerie conducted herself in a very unprofessional manner, she put her ego in front of what was best for the clients. Valerie misinformed the clients and would not take responsibility for her error. She also told the clients not to keep us as her agents appraised of the status of her loan.

I've spoken to one other associate from this company and by far I can say she was not helpful. However after speaking with April Alford for the first time I finally felt a sense of relief, I felt she was really going to be helpful with the process. After we spoke I was looking forward to hearing from her again. Well, I heard from her and she coldly emailed "Due to COVID, we have suspended offering down payment assistance programs. Blank is aware of this and has another lender that she can refer you to. Please reach back out to her for next steps." I was totally surprised that she was so dismissive especially after having what I thought was a great conversation the night prior. I'm sure there were other options available or something more she could have said or done. Highly disappointed and her email was very discouraging.

Communication was completely unprofessional, several delays, unknowledgeable of the type of loan being lended, poor management.

Better communication...more precise understanding between paying the mortgage and where the payment needs to be wired...honoring the 5 year protection plan... Below are all the Great Benefits Minimum 0.5% Rate Reduction No Appraisal - Yes No Out-of-Pocket Expense - Yes No Income Documentation - Had to provide this No Bank Statements - Had to provide multiple statements for the error on the part of NAF No Closing Costs from New American Funding - Fast & Quick Closing - Not sure what was considered fast and quick...this process took close to 2 months.