New American Funding Reviews

Don't be so quick to believe the first story they tell you. The quoted $1000 closing cost, turned in $4300 the next day, as did removal of the 5/0 Buy Down component, and this AFTER I gave them permission to run my credit. I went elsewhere and blew the New American Funding's offer totally out of the water.

Tried to get finacing and heather scruggs was the woman working on my file. Took weeks and still never got an answer yes or no to an approval. Every phone call she would make it impossible to end the call. Going on and on about her doctor appointments and personal life. Emailing and texting her asking if shes got any answers. Rarely letting me know. Went through jg wentworth and got approved in 3 days. Bad credit history and still under %5.2

Joe worked hard to get my business but his unwillingness to verify my current flood insurance cost me 3 months of waiting and 1.5% on my loan interest rate. I also ended up having to pay close to $2000 out of pocket that could have been avoided if they would have done the extra work to verify current paperwork that had already been acquired.

Our business relationship with this company was a disaster from start to finish. We were repeatedly asked to provide endless years of tax returns, financial information, bank statements, and wages/W2's, proof of employment and more for close to three months. Our email requests from March 2, 2016 to May 24, 2016, for a status update, or some communication concerning the submission of our financials were not responded to in any fashion. I have over 17 emails that were sent to this company requesting some sort of status, which were NEVER responded to in any form whatsoever. 100% ignored. It was not until I personally threatened litigation that they responded to my repeated emails requesting that they discontinue any further work on our file and destroy our personal information. TERRIBLE EXPERIENCE. They treat people as if they don't matter and I believe my experience should be known so as to prevent other unsuspecting people from being treated like dirt.

My experience started out well and about 1 month in all communication was lost and i had to start fallowing up on a weekly basis to figure out where i was at in the process. Very dissatisfied with the overall service and communication. To top it all off when i showed up for closing i had to pay a closing cost that i had no idea about and was not informed about. All along i was told that there would be no cash at closing i would not have been so upset with this if i would have been told about it before showing up to my closing.

Raw Message Printable View PLEASE STAY AWAY FROM THIS COMPANY! I LOST 30K ON EARNEST DEPOSIT AND THE HOME I TRIED TO PURCHASE BECAUSE OF THEIR UNETHICAL BEHAVIOR. THEY REFUSED TO REIMBURSED ME FOR THE DAMAGES THEY CAUSED ME. I have to hire an attorney to recover my losses. Here it is my story: I applied for a loan over the phone with New American Funding on October 21st, 2017. I received from the VP officer Chris MacNaughton pre-approved loan letter on October 24th. After delivered all requested docs, on November 14th, I received a written full loan approval letter which also stated go ahead to "remove all contingencies" for my home purchase contract. Upon receipt, I performed my due diligence and obligations pursuant to the purchase contract and removed loan contingency. I would not have done so without the written full loan approval from New American Funding. I had sent all paper work, locked rates, paid for appraisals and inspections and had 30k on earnest deposit held at Chicago Title. Unfortunately days from escrow, I was told that the VP entitled of my loan quit the company without notifying me and my agent. Her assistant also quit a couple weeks later. So my loan passed to different loan officers who promised new closing dates. Steve Torres asked for more time as they need to unlock the files under the license of previous VP Chris MacNaughton. It took me and my agent many phone calls and lot of stress to get escrow dates. Only on December 2nd, the fourth person in charge of the file, VP Chris Garza told us they could not fund the loan. As my duty I canceled the purchase agreement as the seller could no longer wait. While New American Funding VP Chris Garza recognized their employee's mistakes and asked for all receipts of my expenses due to the delinquent behavior of a VP loan officer, I have only received 6% of damages (inspections and appraisals). It is unfortunate that a lender company like this one can cause harm to people, and it is still in business. I am looking for reimbursement of earnest deposit in the amount of $30,000 lost due to the delivery of a Full Approval Letter by New American Funding for the purchase of a residential property. PLEASE STAY AWAY FROM THIS COMPANY AND LOOK FOR AN ETHICAL LENDER.

Dealing with this company was a nightmare. We went through NAF to purchase our home at the end of 2015 through the beginning of 2016--the people who are saying that they over-promise and under-deliver are absolutely, 100% correct. Due to some pre-existing issues with the house, we had worked out a deal with the seller to get a sum back at closing in order to perform needed repairs, and we were promised by NAF that we'd get those funds (to the tune of ~$6500). Lo and behold, come closing time, that money has mysteriously disappeared into NAF's pockets, and we're now only getting a small portion of our deposit back instead. Now, suddenly, they conveniently had all these reasons why we wouldn't be getting this money that was promised. Further, we were promised that we would get our keys once we closed. This was important as my girlfriend was deploying, and she wanted to spend at least a night in our new house before leaving. Another big lie, as it took almost a week after closing (and several days after her leaving) for us to receive the keys to the home we'd already bought. Imagine how upset my girlfriend was knowing that not only would she not be able to even go inside our new house for 6 more months, but we would also be stuck holding the bag for repairs because of NAF's greed. Luckily, our landlord at the time was very, very understanding as NAF told us "any time now" every single day. BLUF: they are a dirty, unethical, bait-and-switch type company. Avoid if you can. The only reason we didn't get up and walk out at the closing was due to the sizable, non-refundable deposit we'd already put down. Now, 3 years later and we're still with NAF for some reason. It just hasn't really been practical to refinance after such a short time. However, we're now preparing for another military deployment and New American Funding is making it extremely difficult for us to utilize the benefits ensured under the California Military Families Financial Relief Act. The majority of the creditors have been reasonable, and some were even happy to assist a military family facing a deployment. NAF, however, has demanded many, many more documents and applications than is called for under section 800(b) of the code, and is making it blatantly clear that they do not want to assist this military family. Considering our initial experience with them, this is not surprising. NAF obviously has no regard for the military. Rest assured, we will be refinancing with another company following this deployment.

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.