New American Funding Reviews

Shawn was not upfront and forthcoming in all areas. Did not explain the process of closing to where I would close 1/11/18, funds be available 1/17/18, but the checks to pay off my creditors would be mailed to me for me to then in turn mail out to each creditor. I insured late fees because, in some cases, my creditors still have not received my check (1/27/18) as of today. Others received them as early as 1/20/18, but that was only because I insisted that the checks be overnighted to my work!

I have financed 25+ homes since 1973. I have an excellent credit rating and minimal debt. I have many assets including Roth Iras, Iras, a 401K , Teamster pension, and over $200,000 in the bank along with Social Security. I have never been asked to provide more documentation, change monthly withdrawals from Roth Iras to 401K withdrawls, told my wife's money wasn't included and asked to pay off credit card debt that I pay off every month. I have more to say but no more space.

Unfortunately, I feel I was deceived. After an absolutely ridiculous appraisal, done in attempt to obtain conventional loan refinancing, I opted to go into a streamline FHA loan program to save money on my mortgage. I was told this would be a zero down loan and was excited to hear that after such disappointing initial dealings on the conventional front. After a week or so, I was told that I would have to come up with $2200 down. I screamed at that but eventually obtained $0 down.

I was asked for the same items several times. It appears your people do not know what each other does and their involvement and hand off. Also, when Susan was out sick things seemed to come to a grinding halt. Very frustrating. Closing was delayed. You need back up.

There were several steps in the process that were confusing and communication via email was not sufficient. It was impossible to get a person on the phone who could answer questions or address concerns. Even emails that were sent sometimes took days to get a response. On several occasions the communication or lack thereof was so bad we shopped around moving the loan to another lender.

Lack of communication overall. The week of closing we were hit with multiple last minute things that had to be completed.

Definitely more communication. Also time to help explain the process we go through instead of just calling u to notify that she send an email that has to be singed...most of the time I couldn't get a straight answer from her and I was redirected to my realtor. 3 months waiting to finally buy a home and 1 week left to het out from my previous home and at the end, the title company had to explain a lot of things that we didn't get from her....so it was really unpleasant

What Ilan and what Paola would tell me were always the opposite. One would say one thing the other would say the complete opposite. Not one person contacted us after the loan funded. We were told by Paola our loan would fund that day and the cash out payments would go out the next day. We have yet to know if cash out payments were in fact mailed because none of our accounts are reflecting that. Very disappointed with the service.