New American Funding Reviews

Beware. I chose this company due to their great reviews for customer service and for being a direct lender. I completed a home refi with their Tustin branch about 2 months ago and closed at the end of April. Through that refi, my taxes and insurance were impounded and were to be paid for the year through escrow. Well, I got a phone call 4 days ago from my insurance company saying that my home insurance that escrow was to pay, was NOT paid. The insurance company advised that my home insurance was going to be cancelled if payment was not received in a few days. Soon after I hung up with the insurance company, I called my loan officer, Tae Kim, from the Tustin branch. He said that he was going to straighten it out and speak to escrow. His exact words were, "I will take care of it." Well guess what, I received a phone call from my insurance company yesterday morning, Thursday, saying that my home insurance was cancelled. Obviously it was not taken care of after I trusted he would. I tried calling my loan officer after receiving the news with no answer and no call back from him or anyone from New American Funding, from morning to evening. Text messages, emails, voice messages on 3 different numbers, still nothing from my loan officer, Tae Kim. Today is Friday approaching late afternoon, and still no call...omg.. Now my family of 6 and I are wondering where that money went? And nervous that we are not covered with home insurance as we speak. If I could go back, I would choose a different loan company as their customer service has been nothing but horrendous. I just tried calling their main line and it was a phone answering service. All the lady said was that she was going to relay the message. When I asked why I couldn't speak with anyone, she just kept telling me she was going to relay the message. I am receiving nothing but the run-around with this company...And here I am with no home insurance and just crossing my fingers that nothing happens, and wondering what happened with the $1700 from escrow that was supposed to pay my insurance 2 months ago, and if I should just pay out of my own pocket? Absolutely ridiculous this company! If you hear the ad on the radio ha ha, don't get duped like me. Once you close, they could care less about you and their service.

Horrible experience! New American Funding caused us to lose 10k in opportunity cost on a failed refi, and 4 months of heart-ache. Don’t be fooled by advertised rates or promotions. RUN AWAY and use a local lender! We initiated a cash-out refinance in Dec 2019. We had a deadline of the end of February because of new purchase that would be closing at that time. We communicated our situation to the loan officer (Antwaun Dawson), and they said it would be no problem closing in time. Suffice to say, their incompetence delayed our refi closing. We even signed closing papers and then they never funded the loan! We have a log of over 20 phone calls (hours and hours of wasted time), several mistakes and outright lies. Half way through the process my loan was transferred to a manager (Jeff Keeter) because of all the issues we were having, but things didn’t get better, they actually got worse! What they told me on the phone, never matched what they sent in writing. We nearly were not able to complete our new purchase, and we were never able to complete our cash out refi. New American is refusing to make it right, and now because of COVID, the lending market has changed, and I can’t even find another lender to do the refi anymore! I called and complained to everyone in the company that I could get ahold of, including a customer service manager (Christian Rosales), who said he would look into our case. Of course, he never got back to me. I am going to report them to the state governance board.

I do not recommend this company to anyone who who needs to close on time. This whole experience has been a nightmare and the only saving grace was the realtor they set me up with. My closing was delayed a week because my agent failed to realize the documents would need to be mailed out to me (during covid). Keeping in mind I was in another state than her and seller was in a different state than me. Also she was still requesting bank statements and other paper work the day of the supposed closing so it couldn't have happened anyway. Avoid this company at all costs!

Very unprofessional

Poor experience - the process took two months longer than promised. Communication was lacking, particularly when we got to closing. I would not recommend doing business with New American Funding.

If I could give a 0 I would. I’ve been trying to refinance with them since November and everytime I contact, they tell me they are still waiting for documents. And then even asked me to reach out in my home state for the documents that I don’t even know what they are since I’m not a mortgage broker or anything. Oh, and I’m out the money I spent for my home appraisal, and that was before Christmas. God I would love for this process to end already, but who knows when that’s going to be.

Laura has been the best loan consultant. But the experience with closing the loan is the worst. I have the feeling Chris didn't want to close the loan. My request to change to another Escrow agent was just ignored. Even worst, the disbursement date according to WellsFargo is Feb 04, but Prominent said Feb 02, sent check on Feb 08. Why? I couldn't even call Kadie, Prominent, on the phone to ask questions. I don't understand what stops them from making the process transparent. Just to get a few more hundreds from me?

Ghosted me after I sent 100+ pages of docs