New American Funding Reviews

Communication was not there at all. You had all the documents the day the home went under contract yet Sara waited unril right before the closing date to ask for things that were not necessary. The closing was delayed 6 days and was unnecessary. When the package fianlly came, it was full f mistatkes. I will not recommend Sara or NewAmerican ever.

Why you won’t fix it

Ultimately you put us in a position where we could have lost our new house, and the $500k in earnest money we had put down. There was ample time for your team to flag that we were running tight and find ways to make sure we closed on time. And then once it was clear that we weren't going to close on time, we needed a clear flag from your team that that was happening with a proposed new date of close. That never happened. Here are the notes I took on all the ways this was a complete trainwreck: Project Management/Timeline - We reached mutual agreement on 3/28, and alerted you on 3/29 – one full month out from close - We delivered everything you asked for in 3 hours or less, unless it was something that was not yet available (like a transaction confirmation) - I’m certain that if I had checked in with you every day and been a bigger thorn in your side, we would have closed on-time, but I should not have to project manage a team who does this professionally Appraisals - Didn’t alert anyone that the first one had been ordered; they showed up unannounced at the seller’s home on a Sunday afternoon - The first appraisal wasn’t “acceptable” for the investor (we still don’t have a clear answer on what that means), so we had to order a second one - The second one was delayed in getting to the investor, which ended up being the last thing we were waiting on to close Documentation - I was asked for several things multiple times, even though you already had it in our file - Several things I was asked for were not what the underwriter actually needed, but Becky/Melissa were not clear on the specifics of the ask, which resulted in further delays - Held up the process on closing day to try to get us to sign a form that was not required and that essentially allowed NAF to further market services to us Loan amount - Changed three different times; did not give adequate notice that there might be issues with the original amount - Didn’t know until almost the day of closing what the final loan amount was; did not have adequate explanation of what we were waiting on and why it was being delayed so late Professionalism - Did not ever give a clear roadmap of what would be needed (E.g. We were scrambling to get proof of insurance last-minute because nobody told me you were going to need that; We also had to scramble to get proof of employment for me (which, btw wasn’t flagged proactively for me; I had to check in to see what the hold-up was and THEN was informed that’s what we were waiting on)) - PTO: Two of our key contacts from this process went on vacation the week of closing; presumably these were on the calendar far in advance. We found out about Dusty being OOO when I got his OOO bounce-back note three days before close. We found out about Becky when she was literally signing off the night before her PTO. Those dates should have been on my calendar the minute we engaged you guys and there should have been a clear handoff before they both went out.

Lack of information Poor response time Will not use your company again

Focus on credibility, commitment and providing integrity.

Better and more accurate communication. Lots of discrepancies

Having anything explained to us and having the process broken down for us would have been nice. We were also not aware we were the ones who got to decide when our rate gets locked in and we were not told that at all from you guys. Overall there was a huge lack of communication and we would have gone with a different lender if we figured out all of this sooner than a week before close.

David Lee is incompetent and a horrible communicator.