New American Funding Reviews

Communication and some sense of urgency and follow up.

Beware of the bait and switch tactics. Greg was the loan officer that committed to a rate and term so that he could get my credit information. Then he sent a much different proposal even after confirming my credit score was above 800. These are stereotypical used car salesmen.

If Colleen had communicated more effectively and stayed on top of her responsibilities, this transaction would have closed much faster. The delays we experienced were largely due to a lack of timely updates and follow-through on key tasks.

I don't know this guy, never has any interaction with Devin at all

Better communication and frequent updates

Terry communicated that the NAF team were experts at VA remodel loans. This could not be further from the truth. Clear communication, meeting the expectations that were communicated from the NAF team, and professional interactions would have made this process better. NAF failed in some capacity at every step of this process. Terry failed to manage a team that he said were the best at these loans. We constantly had to call Terry to make sure he was communicating with other departments who were failing at meeting timelines that they set. Terry's lack of knowledge on the process was evident from beginning. NAF needs to train its Loan Officer's on how to manage a loan when it goes to other "team members" to ensure that it stays on track and is being correclty managed. NAF also needs to do a better job of training their loan officers on customer care and taking responsibility when NAF fails to do what they said they could do. Had Terry owned the mistakes during the process, and made efforts to correct it and consessions to the customer for the mistakes would have made the experience more tolerable.

He hardly ever reached out to me. I had to ask Claudia VanHerwaaden what was going on with things. TERRIBLE COMMUNICATION FROM DON. Claudia was great and she made this loan happen . I understand it was a difficult loan so I appreciate her hard work.

NAF received our purchase agreement May 12th and we were doing a 2nd home loan, our closing date was June 20th. The first week of June our loan officer said in order to get approved for the loan I would have to pay off a couple of loans or sell our current home. I wasn’t sure I could get the money to pay off my loans so we restructured the mortgage loan contingent on us selling our current home. 5 days later I let my loan officer know that I can pay off my loans so we don’t need to wait until we sell our house, the loan officer said she will have to restructure the loan aging and the closing date got pushed out to June 27th. June 25th we paid for our U Haul ($2,000) and started packing it, we were moving from MN to GA so it was going to be a long trip and my husband was going back to MN July 2nd because he has some work comp stuff going on and he needs to get our house there ready to be sold, he was still working to so his job was expecting him back at work July 3rd, we planed on leaving on June 26th in the evening to get to the law firm by 4pm on June 27th to sign closing paperwork. Around 4pm on June 25th our loan officer called and said she needs to restructure the loan to a 2nd mortgage and wasn’t sure we would be able to close on the 27th. I was furious! We had to have the U Haul returned on June 30th in GA and we had all our heavy furniture loaded into it already. Thursday the 26th our loan officer was still getting the loan restructured and probably would have to push the closing date out to July 2nd or 3rd which would make our cash to close go up again. Luckily the home we were purchasing was a new build and the seller agreed to let us still move in June 27th so we wouldn’t have to unpack our U Haul and have to purchase another one when we could finally close. July 1st our Loan officer told us due to Fanni Mae rules we would have to wait 3 days before we could close which would put us past July 3rd so she pushed the closing date out again to July 7th and said cash to close would change again. July 2nd she requested more documents from us and July 3rd everything was cleared by underwriting except they needed an updated gift letter from my trust but my trust was out of the office for the holiday day weekend, I don’t know why they waited until July 3rd in the evening to ask them for that when they could have asked them for it on July 2nd when they asked us for more documents on July 2nd. July 7th came and they said something about there processing department and we will have to push the closing date out to July 8th and the cash to close would go up again. At that point my realtor was not happy and said something along the lines of the seller will not allow another delay in closing and it needs to be done today and the cash to close shouldn’t change since all these delays are on your end not the borrowers. Finally by 6pm on July 7th we were able to sign and close on our house. My realtor and the sellers realtor and the seller all said they will never recommend NAF to anyone based on the experience we all had with them during this process. This experience was so awful and I wanted to just walk away so many time. Use Rocket Mortgage if you can!