New American Funding Reviews

In Fall of 2023, I set out to purchase a home through New American Funding. All seemed well at first , however, there were minor repairs needed so Amir told me we could do an escrow holdback fund and go ahead with closing. then on closing day, he said repairs had to be made first, delaying closing so I took care of that. Several times in the process, NAF would say all was on track to close and then on closing day or the day before, would re-request documents I had already sent them. I was LIED TO several times through the process and had lender fees raised several times. New American Funding advertised a '5 year rate pledge' saying if rates come down within 5 years, they will waive all lender fees to refinance. My original rate is 7.99% in 2025 I got a refinance quote of 6.99% they now refuse to waive the $1,629 "lender fee" and appraisal fee. Amir also refuses to quote an interest rate without 'points' which are prepaid interest. This is a VERY DISHONEST BUSINESS AND AND SALESMAN!!! Avoid at all cost. I have been in touch with the Consumer Financial Protection Bureau and soon with the Federal Trade Commission if NAF don't get in line first!

**Excessive Contact and Unprofessional Service - Avoid This Lender** I am extremely disappointed with the unprofessional handling of my loan application by this company, specifically by a Senior Loan Processing Officer. **What Happened:** Over the course of 6 hours, I received 9 phone calls and 6 emails from the same loan officer. This excessive contact was disruptive to my work and personal life, and completely unnecessary for a standard loan application. **Major Issues:** • **Unprofessional Communication**: The emails were poorly written, lacked proper business etiquette, and failed to clearly explain what was needed or why • **No Clear Urgency Explained**: Despite the bombardment of contact, none of the communications properly explained any legitimate time-sensitive requirements • **Their Mistakes Became My Emergency**: The reason for all this frantic contact? They made errors during their initial processing and expected me to rush to fix their mistakes • **Stressful Experience**: What should have been a straightforward loan process became a source of anxiety and pressure **The Real Problem:** This wasn't about legitimate business needs - it was about poor internal processes and unprofessional customer service. When a company makes mistakes, they shouldn't make those mistakes the customer's urgent problem. **Impact:** The excessive calls interrupted my workday multiple times, and the unprofessional emails created unnecessary stress. I felt pressured to respond immediately to correct problems that were entirely of their own making. **Bottom Line:** If you're looking for professional, respectful loan processing, look elsewhere. A company that can't manage its own processes properly and then harasses customers to fix their mistakes is not one you want to do business with. **Would I Recommend?** Absolutely not. **Would I Use Again?** Never. *Update: I have filed complaints with the California Department of Financial Protection and Innovation regarding their communication practices.*

I would not recommend New American Funding. I also would not recommend our loan officer Ruth Danielson. They constantly failed at communicating with us about our loan status. We would go days without hearing back from them. Because of this we had to extend our contract to buy 3 times almost by 2 months.

Rusty does not communicate well with his clients. He led a client to believe she was unable to refinance the house and then wasted who knows how much time as a result. She later found out she was indeed able to refinance and then they had to restart the process over. I think a clients deserve a lender who knows what they are doing and how to communicate. This guy certainly does not.

If I could give them zero stars I would. Existing customer was told I wouldn’t have to jump through a bunch of hoops to get refinanced. They lied. They are expensive and good luck getting customer service to help. Been two weeks into requesting to speak with a manager. Spoke to no less than five representatives who assured me they would be in touch. My closing is today and I am going to skip it and go to a different company. The experience has been that bad.

Lack of communication Did not close on time. Issued pre-qual when client still had missing items . Hung up on me when I tried questioning her on the need for a termite inspection on an FHA loan Wanted to issue a denial letter when all we needed was clarification and more time caused by her inability to meet timelines

I’ve been trying to reach Sarah for a couple weeks about touring one of their rentals. I’ve left multiple messages on Zillow and her voice mail—crickets! Believe the warnings and don’t waste your time.

They make the approval process Extremely complicated, without offering flexibility. Not recommended at all.