New American Funding Reviews

The overall process was pretty confusing, and communication could've been WAY better. This wasn't our first time doing a 30 day closing, so we knew things were going to be hectic up front. Our Loan Officer, Lisa, who helped up with the pre-approval told us right away that Ann Marie was going to be our point person. As soon as we went under contract, she sent us emails asking for documents. The portal was a bit confusing as I got the invitation, but my wife did not. It also did not like a lot of my documents. Ann Marie was quick at sending emails out, but not always quick at answering our questions. Once we had things sent over, it was pretty bizarre how it just all switched from Ann Marie to Bill, and we honestly never really heard anything from her again, rather things coming from Bill and Lisa. It would've been much easier if someone truly was the point person between us and Bill to make things a bit easier. It was also pretty aggravating the issues I had related to my employment even though the paperwork clearly showed my employer. I also did not really like the process of locking in the rate. The person who helped me gave me a rate and I quickly called back to lock it in prior to the 4pm time he gave me. I also sent him a text as I had to leave a message. I did not get any confirmation until the next day whether or not the rate was locked. Granted, he was at a settlement, but leaving a customer up in the air on something like that was not a good look in my opinion. As a whole, New American Funding provided a loan in time and with reasonable service. The communication aspect could've been much better between the team, and because of that, I don't know if I'd be jumping to recommend NAF at the moment

Just overall very inpatient attitudes, especially toward the end. Not able to accept responsibility of errors that they made from their part. Not wanting to listen to customers. Rude to customers.

It’s bad form to pick up an account with a 30 day closing when you’re planning to be on vacation during and leading up to the closing date. Things were very last minute and sloppy to say the least. The added unnecessary stress because of poor planning added to my plate could have been avoided. As a result, I do not intend to do business with NAF or recommend them.

More communication. Every conversation was short and felt that Doug was in a rush to hang up. I would have liked for him to communicate better when documents needed to be signed.

There was a significant lack of communication. There was also delays in our processing that were unjustified. We provided information that was not carried over to underwriters in a timely manner, thus causing delays. I asked numerous questions that I never received answers to. I asked for updates and was not provided with them. We were asked to provide unnecessary information and conformation regarding my husbands employment. Christine was the most difficult to work with, her lack of communication and overall unprofessional manner was disappointing. We were undercontract for over a month with having to file extensions, and for what reasons I have no idea, again because of lack of communication.

We refinanced our home 04/20 with Sebonic and had an incredible experience and thus why we returned when the rates dropped. This refinance was a very unpleasant experience. We previously had a dedicated team but this time we were moved to the Cardinal Client Advocate Team which was very frustrating. We had little communication regarding the status. We called and spoke with someone who was very helpful but based on her comments, it appeared as if the loan was in limbo and only because we called were certain items completed and the loan moved forward. We highly recommended Cardinal/Sebonic many times but would not do so given the new format and lack of a dedicated team.

We refinanced our home 04/20 with Sebonic and had an incredible experience and thus why we returned when the rates dropped. This refinance was a very unpleasant experience. We previously had a dedicated team but this time we were moved to the Cardinal Client Advocate Team which was very frustrating. We had little communication regarding the status. We called and spoke with someone who was very helpful but based on her comments, it appeared as if the loan was in limbo and only because we called were certain items completed and the loan moved forward. We highly recommended Cardinal/Sebonic many times but would not do so given the new format and lack of a dedicated team.

Overall, this experience was frustrating & took almost 90 days to close on our loan. My first call to check rates was 1/11 & we didn't close until 4/8. The initial application experience was quick & easy but from that point on, it eventually became quite the ordeal. I provided all documentation in a timely manner, we own several businesses so I knew our case may be a little complex. However, every person I dealt with changed at least once during that time frame (loan officer, processor, underwriter etc). Olivia Bustos & Deborah Murphy were very easy to deal with & communicated well with me regarding the status along the way. But, there was not clear communication between the different employees who worked on our closing to know where the other left off. At one point we were told we were going to have to pay off an auto loan (which had a 3.75% rate, almost half of the refi rate we were quoted) which totally made no sense. I kept asking questions & realized they weren't including the correct income in our DTI. All the paperwork I had sent in wasn't in our file that was given to underwriting. I finally got Mark to look again at all our documentation & he realized underwriting had the wrong amount so the loan had to go back to underwriting to be re-approved. When it was finally time to close, I had not been given final #'s (total fees, final rate & APR, cash out etc - standard #'s you would expect to see before scheduling a closing). I kept asking for those docs/disclosures to be provided. I got a lot of pushback & was told "it was too difficult to keep changing the disclosures" as I was trying to compare 2 different options. Once I received those docs, I realized the fees were significantly different between the options & from what I was originally told. I asked more questions & found out it was due to the total loan to value. Dropping below 60% LTV saved us several thousand dollars of fees. The info I was given changed depending on who I spoke with and at the end, we were being pushed to "go ahead & close or our rate lock would have to be adjusted". When we finally were able to get everything corrected, docs were sent to a notary in our area in less than an hour so we had to drop everything to go meet someone to sign docs. As with any lender, do your homework, ask questions until you get answers that make sense & read documentation thoroughly before signing anything. Eventually, I was able to get a lower rate than initially quoted & saved on those fees while still completing a cash out refi. SO - my overall goal was met which is why I am giving 2 stars, but I definitely had to jump through alllll the hoops to get there and keep pushing to get questions answered. I would not use this company again or refer them to other borrowers.