New American Funding Reviews

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Will not be doing future business

Communication...Communication...Communication!! It felt like Gil was very reactive. When the process was coming to a close it felt like that was when He was interested in talking to us. It felt like during the process we had to fill out multiple forms for the same info and maybe this wasn't true but there was no communication to let us know otherwise. Gil is a nice guy and He can be very charming but the process was unnerving, frustrating and overwhelming and we felt alone.

Aaron needs to learn communication skills, when issues are of an urgent matter he needs to call the client vs. leaving an email. Especially when something is holding up a closing. And then when he is finally reached over the phone he should not scream at clients. Further, he then should not blame the client for a document that was requested 10 days prior that the client obviously missed, for delaying the closing. This is my 4th and last mortgage with DK

Communication was poor at best. I have a lot of questions that went unanswered and are still unanswered. The team was delayed with the closing sheet--needed for me to wire the correct funds. The escrow amount changed 3 times. How can my taxes and insurance change 3 times in 3 weeks?? Still unsure when my previous mortgage is being payed off. I closed on Feb 22nd and still have my mortgage with Wells Fargo on March 3!

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When I started this loan process, the origination fee was around $2,000. However, we canceled the loan after discovering that some key HOA information had not been disclosed. Jeff was aware that I canceled the loan due to $3,410 in HOA fees due after closing. When the seller agreed to pay that fee, and Jeff called me after finding out, and we restarted the process. Before stating that I needed to quickly sign some documents related to the same loan, it was his first opportunity to mention that the origination fee had increased. He could have asked me if I wanted to continue with the loan. The second opportunity arose after my rate lock was extended without my knowledge. I found out on the day of closing because I had not been given any information prior. The third and most important opportunity was on January 5, 2024, during a call I had with Jeff. I reached out to discuss the estimated funds needed to close, which amounted to $34,000.00. During that call, I specifically asked Jeff to explain this figure because it seemed excessively high. He said that the underwriter was working on it and that he would reach out later with information, but he never emailed or called back to explain. I have the email from January 5 to support my claim. How can the processor, Tracey, have an estimated closing cost when you initiated the loan and can’t even answer a simple question about the funds needed to close? I am unhappy with this loan process because I feel like I was duped. To make matters worse, I could never reach Jeff or Tracey before closing to get an explanation about the origination fee. Even though they extended the loan, it still came down to the final hour for them to provide the final numbers. It feels like they were hiding the origination fees for the loan, knowing that I would never agree to the terms, in order to corner me on the day of closing. I ended up paying approximately $8,000 in origination fees, meaning there was an estimated difference of $6,000 from my initial mortgage agreement, and it was never mentioned or discussed with me, not even once. This process was embarrassingly subpar.

Too many hands in the pot. Poor personal communication. Constantly asking for stuff instead of telling us upfront exactly what was needed. The constant need to check credit and bringing down our credit score.