New American Funding Reviews

Communication. I don't think it is reasonable to expect a lender in Pennsylvania to understand the BHM market & this loan evidenced that clearly. The assistant to the transaction was an impediment to the transaction the entire process. Multiple times documents had to be provided again and again that had already been provided to Sunee. One of the most confused loan processes I have been a part of .

I started out with a good experience but unfortunately was told inaccurate information by Marcus. He explained that my loan would have a max of 3% change in APR with the variable interest rate. I asked twice to clarify it was for the life of the loan and not just a calendar year. When I called him at closing due to the discrepancy, he told me I had misunderstood him and he apologized that I was confused. I clarified that I had asked this question twice before and was told the same answer both times (both times incorrect). I am including the written conversation of what i was told September 11th. Amy: Ok. Question on the variable interest rate? I might have misunderstood but didn’t you say there was a cap of around 3% for the life of the loan? Marcus: Yes that is correct. In the initial disclosures, we have to disclose all the interest rates on the rate sheet, it is federal law to do so. In the closing disclosure you will see that you will have a maximum Margin of 3% on your final loan documents ??

The loan process was extremely difficult - we were delayed a month out from our original closing date and had to extend closing multiple times. We had to make changes to the purchase contract for lending purposes after our original closing date. It took over 2 hours at the title company on closing day to finally get the documents sent over for the buyer to sign. A very unpleasant experience all around.

While acknowledging Stephanie's transparency, I must express significant reservations regarding this company. I cannot, under any circumstances, endorse their services. The underwriter, Michelle, demonstrated a concerning disregard for client well-being, prioritizing sales over responsible financial practices. Her communication throughout the refinance process was notably deficient. Specifically, when an issue arose, and we promptly sought clarification, Michelle failed to respond, instead implying the matter was our responsibility. Had we understood the implications, we would have terminated the process. The intended outcome of the refinance was debt consolidation and improved financial liquidity. Regrettably, the outcome has been a worsened financial position. We intend to refinance with a different institution as soon as possible.

I never recieved any proactive communication from Brandon about where the loan was at int he process unless I reached out first and there were a few times he didn't even call me back. Not a fan and I would not refer any of my clients to someone as unresponsive.

Alan really put in the minimum and thr transaction was unpleasant for Brenda I don’t judge based off my experienc, but our mutual client and a phone call to her to explain the delay would've helped ME and BRENDA I felt alone in this Kayla also was MIA a lot and I was left explaining day after day to Brenda and I would've appreciated help

More communication at the beginning and during the process. Explaining what to expect during the refinance process. Better communication between the loan Officer and processor. Explain why documents figures were different than what was verbally discussed. Proactive communication from NAF would have been helpful. For example, if there is a delay in the process tell us before we have to reach out every single time for an explanation. We closed over a week ago and we are still getting requests to sign documents to which the figures are still incorrect. This refinance was a nightmare. We started on June 13th and closed August 14th. We were established customers and were told we would close in a few weeks. We were constantly asked to supply the same documents, as if they were misplaced. Really left a bad taste in our mouths.

Kaitlyn was hard to reach and did not show a sense of urgency throughout the process.