New American Funding Reviews

The loan processor and NAF as a whole was horrible from a follow-up, communication, answering questions, and pushing the transaction through to completion. I heard basically nothing for two months, then it took over a month to cross the finish line. The communication between NAF and the underwriters (Spring EQ) was horrible and slow. We were supposed to close two days earlier, it was called off by the underwriter, and I heard nothing until two hours after the closing was supposed to happen. I received the docs two hours before the closing and found out my wife had to sign the documents, and she was out of town. I didn't know any of the terms until after the closing, and my requests for specificity about certain items were never answered by NAF. I would not recommend NAF, especially if Spring EQ is the underwriter, and the two together were awful. If I knew the process and communication and coordination were going to be that bad, I would have borrowed the money from a competitor, even if it meant I would have had a worse loan. Ben was honest and I thought he was straight with me. Once I completed the application, he really was out of the picture as my loan moved to the loan processor. So, I am not rating him poorly, but the rest of the team and the process were not customer focused, thorough, and didn't try to meet my needs and expectations. The only reason there was a push to close, was the lender wanted the deal closed and funded before the end of October. If it slipped one more day, I bet it would have taken another few weeks. Now I have to make a payment in December, where a one further day delay would have pushed my first payment to January, and Spring EQ jumped through hoops to make sure the funding occurred in October. I even had to call the lender and their agent to make sure I received the funds on the 31st. It was simply unbelievable.

No say, at this time .

better communication

Lender messed up the credit pull and locked down the access to move forward with a conventional loan. Appraisal had already been done. Had to switch to FHA because lender messed up the file and was going to charge buyer again for a new appraisal. Thankfully the original appraiser switched it to an FHA appraisal for no charge - due to the efforts of the Realtor

There were multiple miscommunications, repeat requests for the same documents, delays in preparing closing documents and poor customer service from the entire New American team.

Improvement on communication. We had a very difficult time getting ahold of Tania, multiple voicemails and text messages went unanswered. We received Docusign forms regarding our loan without previous communication on lenders end. If important loan information is being sent out for signature, lender should attempt to make contact to provide explanation on changes.

There just seemed to be a lot of issues with this transaction. Contacting me about things that did not affect me. Should have contacted people directly. Suggesting that a realtor involve themselves in something between the lender and buyer didn't seem right. The lender made mistakes that angered clients. This company will NOT be recommended. Sorry.

Started off good. Very nice & pleasant person. Questions unanswered or explained when asked. Had to ask again. Not sure why. We just did not communicate well for some reason. Quite a few documents and information asked for at last minute, causing scrambling on computer at final hour to get them in, not to mention stressful, as closing was imminent. I always have enjoyed buying and selling homes over the years, have done many. This one was different and disappointing & Very frustrating and stressful. Some of it could have been and probably was caused by underwriting, I understand, but it was very burdensome, somewhat disorganized it seemed. I understand process is stricter now, but I should have been presented with list of all needed at the beginning or at least shortly thereafter. When it comes down to a document(s), that they want, and already have the information, etc., just too much, especially since I was only borrowing one-quarter of the home's value and have a perfect record and credit. Again, I realized underwriting was part of the issue...had to be! Still, not good.