New American Funding Reviews

It was a memorable experience. Nicole was friendly and was very responsive via text. What made it "just ok" was that the loan disclosures were not provided in a timely fashion and ultimately caused a delay of the closing of the property by 5 days. We felt the closing could have proceeded as planned and the process could have been smoother, had the documents been provided on time. Again, Nicole was accessible after hours and kind in her interactions and we appreciated that.

In the end we got a good rate and everything came through. There was a lot of technical frustrating difficulties that were out of Sam's control from what he said - ie the system not him. There was paper work request at the very end that was not him, but should have been conversed up front. We constantly had to call to follow up on status which he kindly took all our calls. I know most of this did not reflect directly on Sam, however the overall experience with the company I would not recommend.

Make sure all the details of the load are specified. We were told that we would be getting a conventional loan and ended up with a home equity loan. We were also told that three accounts would be paid off but only two were paid off.

Communication could have been better. I wasn't sure who was emailing me, there were 3 or 4 people sending me things to sign and requesting info. Docs were sent to print and sign but also sent to electronically sign which was also confusing. It took about a week to hear back from anyone via email if I heard back. Communication started off amazing at first with Rebecca but once others were involved it got messy and confusing. Rebecca is sweet and so nice and knowledgeable.

We encountered a roadblock to our financing. While Jody new about it on 4-5 she did not share the information with us until 4-15. And she only did that because we called to get a time for our closing which we had been led to believe would be 4-16. Once she shared the roadblock with us she also admitted that she didn't know how to remove the roadblock. We made several suggestions and finally made a call to the previous financers relator who knew what needed to happen. Finally closed 5-17.

My concerns lie with underwriting. We had a few issues arise in the 11th hour, contributing to delays, Then after we signed our closing documents, there a significant issue that forced us into a position we did not want to take. Dayna was great to work with in the beginning and she continued to communicate through the issues, however, the severity of the issues would prevent me from recommending anyone to work with New American.

It seemed to make no difference to Kelvin that I was an existing customer or that I had excellent credit and a great report with the company. There were no exceptions to the rules that he could employ on my behalf. His tone was cold and impersonal making no suggestions for my better understanding of the process. He insisted that what was happening was the only way or the best way for me to benefit in the long run. I suspect that there is "play" in the number of points charged for lower rates.

Alec was nice to deal with, but when it came down to closing, your company was not ready, this came up the night before closing.