New American Funding Reviews

Primary contact went on vacation. Handoff was sloppy and nee contact wasn’t advancing the process. I had to ask for a manager to get involved in order to make progress while Adam was out. Once handed off to underwriting it felt like I took 5 steps backward and was starting the application and qualification process all over again.

Communication of explanation of what to expect and to be able to feel like this person was working in my best interest. I did not feel that way and ended up paying $1,000 more at closing that what was disclosed only 48 hours prior. Was not told that we had to pay points because that was our only option until about 5-7 days before closing. Never given the option to try to explore a different avenue.

Sonyia initiated contact via text. I compared lenders and we ended up signing paperwork to secure the loan through NAF. There were two separate occasions between paperwork signing and actually receiving clear to close that I reached out to Sonyia via text for questions and updates only to receive a "Who is this?" in return. Extremely frustrating given she initiated conversing via text and we had already signed paperwork to pursue a loan via NAF. In previous experiences with securing a loan through a different company the loan consultant had my number saved in their phone and would greet me by name. So this was a stark contrast from our preferred lender. Then, between initial paperwork signing and receiving clear to close I reached out to Sonyia and Tommie on multiple occasions asking if additional information was required from my spouse and myself. Radio silence on multiple occasions. I had to get my real estate agent involved before they started engaging in consistent communication. I understand I was being proactive and there may have not been action needed on my part, but I was very clear that my spouse would be traveling out of the country for work, so I was trying to complete tasks around his scheduled time away. Therefore a simple response stating nothing is needed and letting me know when we would be contacted next would have put my mind at ease during a very stressful period of time. Again, a stark contract from our previous experience with our preferred lender, as they were excellent at timely and clear communication within 24 hours each time I reached out. A week out from closing we were notified that NAF was having trouble confirming my spouse's previous employer. They asked that he reach out to the previous employer directly to have previous employment confirmed for NAF, else we did not meet criteria required to close. Once my spouse made contact with his previous employer they said "We can give you this information, but typically the company providing the loan contacts us directly." Needless to say, once my spouse relayed this information to NAF he was abruptly told that NAF had already sorted it out and he no longer needed to do anything to confirm previous employment. Likely a miscommunication somewhere along the line, but I highlight the experience as it caused us significant unease a week prior to closing. Finally, I was thoroughly irritated with closing process. We had stated we wanted to put Y amount towards closing. The week of closing we were told we were required to put X amount towards closing. I was frustrated as we wanted to put the larger Y amount towards closing to secure lower monthly payments. I was then told that although the X amount was a smaller closing number than the Y requested, we had actually put an even larger Z amount down (exceeding the requested Y amount) considering the earnest money we paid. This justification was frustrating, as regardless of how you looked at it we either did not hit or we exceeded the Y amount we wanted to put towards closing. When I was adamant about still wanting to cut a check for the Y amount planned I was informed if we wanted to put more towards the loan, then we could apply it to the principal after we closed, but our monthly payments would remain at the higher rate. This justification did nothing to ease my frustration, as I still had higher monthly payments and I was told that I didn't put the Y towards closing that I wanted. Again, a stark contrast from our previous experience with our preferred lender, who reviewed and locked in numbers with us one final time - just in case we wanted to tap into a little more cash for closing - the ~1.5 weeks before closing. The cherry on top of our already poor experience with NAF was sitting at the closing table and waiting, waiting, waiting for the funds to be sent to the seller. Even the seller made unsolicited comments that they usually didn't have issues with it taking that long to transfer funds with NAF. Funds were ultimately transferred, but after our previous challenges with communication with NAF we were not surprised by the delay. All in all, the communication with NAF was dismal throughout the process. We went with NAF because it was the seller's preferred lender and they would provide additional money towards closing costs if we used one of their preferred lenders. This would have been a prime opportunity for NAF to win over a Customer for repeat business with any future purchases or refinancing opportunities. NAF did not win us over.

Clear communications and avoiding multiple mistakes

Better communication would of helped. I had to find out information from my realitor because my lender would email her and not me. For instance, I had to find out thru my realitor that my mortgage agent couldn't move forward to send my paperwork into the USDA due to not bring able to get ahold of my HR officer who filled out my income verification. I was notified of this 4 days before my initial closing date. If I was told sooner i could have sped up the process. It ended up delaying my closing.

Better communication. Better explanation of the process and numbers regarding the house. More streamline process, preferably less emails for documents. Actually pre-approve us, not pre-qualify us and call it pre-approved. Loan processor (Jordyn Flores) was extremely difficult and rude. Honestly a nightmare to work with.

After requesting that he not email the Buyer (my client) and the Listing Agent in the same email (not BCC), he continued to do so giving the listing agent direct access to the buyer if they wanted to use it instead of going thru the buyers agent (me). The numbers were sent over to title late and the buyer had to wire funds minutes before closing so was unable to get their keys til the following day when those wired funds arrived.

Better communication and a better attitude would be a start. There were times she was very unpleasant and downright rude. We had issues all the way up to the signing. Our first experience with her when we bought our previous home was completely different. This time, I was very uncomfortable about the entire process. Things were just not smooth with paperwork or communication. Others involved with the purchase of our home also said things weren’t pleasant. Buying a house is already a stressful experience. It shouldn't be even more stressful due to the staff involved.