New American Funding Reviews

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This process started 1/2025. It funded 9/2./2025. The loan was supposed to close in April. My first loan officer completely ghosted me after telling me there is now way possible to do a cashout refinance . Irene stepped in and escalated the situation to get me connected to a new loan officer. John stepped in the same day and tried to play catch up on his end. We only spoke about 3 times. I did not get routine updates or explainations. After closing, I still don't even know what was funded or happened. I had to play middle man between my private lender and loan officer. The entire experience was just bad, from lack of communication and not knowing what issues were stopping the loan from being funded to providing pictures of cashed checks. Irene was very polite and helpful in the process. The process was chaotoc chaotic and unorganized. I was charged an additional fee for the time line extending passed the 120 appraisal mark. My lender was informed of closing days twice before I was aware, neither of which was kept .

More empathy, honesty, willingness to clarify confusion, and the practice of listening.

The whole experience took us almost 5 months. Along with having to extend our closing date by 2 months. She also berated me on many phone calls. She also provided false hope. Many of our phone calls were sidelining the topic of our loan and would talk about random topics. She was very unprofessional. She also kept telling me to give her a 10 rating.

I did not fell that the loan officer was proactive regarding my loan. In all fairness I learned if some Leinster which caused delay, but the lian officer did not make efforts to educate or give info in how we could manage.

We told Doris MULTIPLE times on which loans we wanted to get paid off for our equity cash out loan. And even once we had filled out the paperwork and we had thought we'd gone over it several times, where the money was getting distributed was still wrong. Each time we reached out to Doris, she left us out in the dark with little details and, for some reason, never included my wife in the communication when she knew that she was being put on as a co-signer. Mid-way through the process of working with Michael, we kept finding several different hiccups along the way that kept delaying the process that required us to keep submitting documents that should have been taken care of from the very beginning. This entire loan process lasted for a month and a half when it should have been taken care of in 2 weeks or less. I have never been more stressed or confused in taking out a loan that would ultimately end up saving us money. That says something about the entire process and the people involved.

The overall lack of organization and untimeliness was extremely frustrating. We were repeatedly asked for the same documents (even after uploading them to the provided portal). Promised dates were missed despite being told the specialty was quick closings. We were promised our paperwork the day before closing. We didn't receive it until 30 minutes before closing. Only after closing did we discover that the down payment amount we requested, and confirmed numerous times, was not updated on the revised closing paperwork. Instead of applying $30k to closing costs and down payment as requested only $25k was applied. Overall it was an extremely frustrating experience that I would not experiment with again or recommend anyone to pursue.