New American Funding Reviews

We were told that the home loan was "100% approved" but then days before the closing date, changed his mind and said that the proof of employment documents were inadequate. This caused us undue stress days and almost caused us to loose the house.

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.

Steve was great, until we were locked in and had a settlement date, then everything went horrible. He was unresponsive and when he did respond it was always simple single word reply’s with no reassurance to any of my questions I ever asked him. He didn’t give me a final closing cost number until 20 minutes before closing was scheduled and gave me the wrong number first before realizing he was wrong and giving me the correct number later.

Phone calls were almost never returned sometimes up to 7 days till I even got a call back... Stephen never answers his phone... Tells me hes going to call me back and a little bit and sometimes doesn't call back at all... Almost impossible to get ahold of... The whole experience was more stressful because of Stephen... I would not recommend envoy to anyone at this point... Would never want anyone to have to go through the frustration that I had to go through with envoy...

My partner and I were in the process of purchasing our first home and had a disappointing experiencing with Michael Thompson. We received below average customer service and poor communication. We feel as though our time had been wasted as it had been 5-6 months of no progress during the process. Due to this we were highly dissatisfied with the way things went with. Our call with Wally Rutecki notifying him of our change gave us the impression that we just another customer. I would NOT recommend

Did not know how to request documents Kept asking for the same documents time after time, sent same files multiple times Closing cost disclosure were not correct and was not correct on all files sent over to us

Very stressful experience, we went through the biggest nightmare of needing paper/ verification of everything we could have possibly have. It was never enough and Jody was absolutely terrible to deal with.