New American Funding Reviews

Melissa and her team are fantastic- She makes the whole process from start to finish stress free - she does not leave you wondering about the status of the application loan -she keeps in constant communication and explains every step in great detail and allows for questions to be asked She is great and always so sweet! I will definitely keep referring her and going back to her for any future home related issues! Thanks again Mortgages by Melissa Masonssa

Terrible experience, poor communication, major oversights made left and right that made the home buying experience pretty miserable and having to switch lenders.

Started out great. She was very helpful in trying to help me buy my first house. I finally got everything finance wise squared away and when I got her all of the paper work that was needed she disappeared and made no contact with me for two weeks. When she finally contacted me she told me she had went on vacation for a week and turned her phone off. She didn’t let me know she was going on vacation until she was there and didn’t try to get me in contact with someone that could help me while she was out of the office. Hopefully she doesn’t treat the rest of her clients this way.

My friend recommended I contact Larry to help me obtain a mortgage loan for my new home. After providing preliminary info Larry called me and said that I would not be approved for a loan in that amount with any lender due to my debt to income ratio and that I should “either get a huge raise or find a condo”. When I asked him if I should contact other lenders he said I could, but that they would all tell me the same thing, that he knows his numbers being in the business for 20 whatever years. Well LARRY, it’s been 2 months but I’m typing this review from my brand new home that I solely purchased for the exact price that I asked you for a loan for. Thanks for nothing, and I hope other single young female professionals with average student loan debt also don’t allow you to shoot down their dreams and discourage them from trying to buy the home they want.

I am writing to formally submit a complaint against Mr. Steve Menozzi, Sales Manager (#697223) at New American Funding, located at 11 Continental Drive, Suite 211, Newark, DE 19713. Mr. Menozzi was provided with all the necessary information to obtain a pre-approval for a housing loan. After submitting the application, Mr. Menozzi verbally advised us to proceed with a $5,000 deposit with the seller. Following his guidance, we signed a buyer contract with the seller and committed the aforementioned funds. Subsequently, Mr. Menozzi informed us that we could not proceed further with the loan unless my taxes were amended, citing that my reported losses invalidated my income. I promptly worked with my tax preparer to complete the amendments and submitted the revised tax documents to Mr. Menozzi. Despite my compliance, Mr. Menozzi once again stated that I did not qualify to proceed to the underwriting stage. Upon requesting an official letter from Mr. Menozzi confirming my ineligibility on the pre qualification stage he refused to provide one. Instead, he suggested I seek a denial letter from other lenders who had reviewed my case. This refusal has placed me in a difficult position, as the seller is unwilling to return my $5,000 deposit without official documentation of my ineligibility. I believe Mr. Menozzi's actions were negligent and misleading. His advice directly led me to commit a significant financial sum, and his refusal to provide proper documentation has further exacerbated the situation.

Terrible experience, poor communication, major oversights made left and right that made the home buying experience pretty miserable and having to switch lenders.

My husband and I just found out that our deal fell through but there are no real answers. Through out this process my husband has done everything on his end to make this happened so much so that his credit went up during the process. so much so that he was pre approved moving forward with being approved during that time having numbers reran because his credit went up to getting all the way to the end in waiting for the Clear to close to be told that he was not approved my husband throughout this process has gone over and beyond to make sure that everything is in order. He has been in contact with everyone throughout this process and sometimes done the work himself to make sure that we get our dream house. to be pre approved then approved and have numbers reran because credit goes up. Once credit was reran the estimated mortgage amount went down significantly, interest rate was lower and PMI was no longer a factor but for the determining factor be that THE COMPUTER IS NOT ACCEPTING IT IS BULL. there is no reason why we shouldn’t had closed on this house weeks ago. His credentials are all there to be approved and close on this house.. Our jobs, credit and savings and more are more then approval material at this point. Who gets approved then when waiting for clear to close to close is not approved bc the COMPUTER SAYS SO NO OTHER EXPLANATION. What kind of computer solely relies on computers and don’t have a back up plan such as manual underwriters. What type of company confirm themselves that he should have been approved and clear to close and that this makes no sense but does nothing about it. I promise I will never ever recommend anyone to ENVOY EVER. You take two hard working good people and leave them with nothing because your computer says so with no clear explanation.

Rae was good. She handled my customer with a professional and timely diligence. I will use her in the future and have just sent her another customer. Our closing was a triple domino closing. My customers Sale of Home and Purchase of New Home represented the first two portions of the domino. Our closing timing and funding was very important to insure the last piece, to take place. Rae managed the other components and met all deadlines with NO DRAMA... She was available and complete at all times..