New American Funding Reviews

Worst. Lender. Ever! No communication. Late responses. Last minute increase in closing costs for the client. Closing docs were late despite them having an additional week to prep. Awful!

I’m the seller of a home in Lawrenceville GA and had the terrible misfortune of having a buyer that chose Caliber Home Loans. • Our buyer made the offer on like May 1st with a closing date of June 6th • Lender does nothing for several weeks, orders an appraisal, and pushes to the week of 6.13 • After 6 weeks, the lender determines that re-dating of documents are required and on 6.16, tell us we can close on 6.30 • On 6.28, we’re told that we can’t close on 6.30, but instead on 7.7 or even 7.8. • On 7.7, one day before we’re to close, we’re told the closing is now moved to 7.15. • The morning of 7.15, we’re told we can’t close until 7.19! • After waiting 7 hours for funds to be wired, we closed on 7.19. That’s over 12 weeks to get funding from this lending and the buyer did nothing wrong, but was forced to move twice (had nowhere to live) after being promised many times that the closing would occur.

Horrible experience with Martin Ortiz. Very pressured sales on a first time RIFI, and last minute canceled the loan!

Does not care about clients. Couple he did last year couldn't afford the house, he got special 2nd trust financing......less than 1 year forced to sell home because they are getting divorced over, wait for it, MONEY PROBLEMS. I was a mortgage underwriter for over 2 decades and couldn't believe they were approved. No real verification done, submitted or asked for. Worked the system for his pocket. Complaints are being filed.

My fiance and I have had a very poor experience working with this lender. We met the loan officer at a bridal fair and he initially seemed knowledgeable, attentive, and motivated about assisting us through the first-time home buying process. Unfortunately this was not the case, and we received little to no communication, empty assurances, and ultimately wasted our time and delayed our home search significantly. When issues arose with our initially discussed pre-approval, our loan officer did not communicate any of these concerns with us for over 1 month despite us making numerous attempts to follow up via phone call, text, and email. When we were finally able to get a consultation scheduled, we discussed a plan to pursue another loan type. It has again been over 1 month since I have received any correspondence regarding this approval. The loan officer had assured he would also send us different price/monthly mortgage breakdowns for various loan types, which were never received. I have attempted to follow up numerous times, and have even sent additional notice we will be working with a new lender, and have not received ANY acknowledgement what so ever. It is unsettling to have provided additional personal/financial information to this provider and for them to have seemingly vanished. We have since pursued services with another lender, and have had wonderful communication and received the answers we needed in less than a week. If you are looking for a lender that will support your home buying needs, I would not recommend Louis/New American Funding.

Awful. I am sure there are checklists for loan processing. They did not communicate the requirements effectively. There was very poor coordination with the appraiser and no follow up to ensure the appraisal was done in a timely manner. I found out about the required repairs three days after the appraisal recommended them. Those were three valuable days where the repairs could’ve been completed and the new reinspection schedule. The final disclosure agreement was missing my earnest money which is ironic, because they had been busy asking me for copies of the cleared check and statements from my bank. I am a veteran and was treated like a second-class citizen the entire time. There were excuses for every issue I had. I was very explicit when I told them I needed a 30 day close. I gave them to the chance to be honest and say they couldn’t make time line. I don’t know how many times I was told that some thing was an oversight. The staff at various levels acted like they were moving mountains to meet my needs. What they were doing, was the bare minimum. The delays were never from my end. Any documents they requested were sent to them within 20 minutes to 4 hours maximum. I am currently 36 hours away from closing. I have threatened multiple times to take my offer away even though my moving truck is full and my lease is up. I will be refinancing almost immediately.

Worst. Lender. Ever! No communication. Late responses. Last minute increase in closing costs for the client. Closing docs were late despite them having an additional week to prep. Awful!

Brad Taylor, Nichole Cox and their colleagues were atrocious on our deal. The co-op agent works with these guys and today, they delivered a nightmare to the closing table. I’ve never met a lender that slacked in ALL areas until today! No communication, last minute docs needing signed despite being told the clients had submitted everything, they changed closing figures several times, refused to exercise any urgency. It was terrible!