New American Funding Reviews

He mislead all parties to believe that he had them fully preapproved when in fact he didn't. He waited until a week before closing to pull credit, creating a stressful 'fire alarm' situation as we approached closing that could have been handled weeks in advance. He is borderline fraudulent, and it was only after I involved a higher-up member of your company did my client's loan get pushed through underwriting and cleared to close. Worst lending experience I have ever had.

I immediately knew Kiet was new (later confirmed), but I assumed that a big company like you would have excellent people on his team to help him finish. Instead, we got Elaine. My TC and I have never experienced such an incompetent LP. She asked me what an LSU is. Don't do business in AZ if you don't know our docs. She sent an addendum that I originated to ME to show me what the new COE was because I was panicking about Kiet and Elaine missing our COE . The problem with the addendum that she was proving her point with? It was only signed by the Buyer. The seller had not signed. The seller demanded $1500 more in EM to sign. Elaine said "personally I would sign" and in the same email "we can't guarantee that we'll Close on time" . So she didn't care if the Buyer lost $2500 in EM. ...she just wanted to buyer to fork out $1500 more for their error. She also asked me (and you should DEFINITELY read her emails): "what day do the Seller's Agent and Seller think COE is" ...so I referred her to the Contract. The contract has the COE date. It's in the contract, but she did not know that. The COE had come and gone, but she didn't know because she had an Addendum signed by the buyer. She still did not know why I was panicking and she Never accepted blame. FOUR days after COE and I had no answers or promises. Kiet said to add 7 days to COE and that was safe. Thankfully I did NOT take this advice and extended it 10 or 11 days as the Seller would not extend again and now we have $1500 more EM that we will lose. Sure enough, we did not make Kiet and Elaine's SECOND COE date. They missed it by two days with no communication until "it funded." Thankfully Chris Kim answered my question when their Buyer wanted answers to know when she would have a home. She was loyal to your company and you put her through heck. I told Kiet on Day 1 "do you need water tests" as it's on a private water company and this was not answered or addressed until close to COE. Usually the LO is the expert on the Loan, but I felt that I knew more than the LO or the LP and that's terrifying. Again, Chris came in and saved the day. Kiet was nice and responsive and he'll learn, but he needs a food LP . Elaine has no clue what's going on and is rude. Throwing MY addendum in my face to tell me the (wrong) COE was crazy. I have Never , Ever had a transaction like this and I hope that I never do again. Unfortunately another of my buyers is using your company right now and so I told my TC that we have to work to make the loan deadlines as well. He already missed our first LSU due date. As the Listing Agent, I will encourage sellers to now accept contracts from buyers who use you. As the Buyers agent, I will share this experience and may not work with buyers who are using you. The buyer and I were both physically affected by Kiet and Elaine's incompetence. I had to stop everything and spend HOURS just trying to save this deal 4 days post COE. You put your own buyer through torture. A veteran.

Dishonest and incompetent

Clay's dishonesty and incompetence was totally unacceptable. All of my loan and title documents were incorrect. I'm having to go back and correct items that were done incorrectly.

The communication wa non-existant for weeks and we had several contract delays due to lending. There was a lack of professionalism in the messages that came from David. It did not feel solution based. Another lender was brought in at some point to help but we even struggled with the communication there too. Some messages were email, some were text messages, some came to the whole group and some came directly to one so we had a hard time making sure everyone was in the loop and it created a difficult time ensuring we were all on the same page and moving forward. Towards the end, the processing team requested documents mulitple times in duplicate. A few of the items were sent in FOUR times. This was a challenging file and I would not recommend this lender.

This was the worst lending experience ever!!!!!! My clients deserved better The worst!

Noting unpleasant specifically about Sergio as he was just looped in after my client's loan officer quit. But the entire experience witH NAFC was horrible. bare minimim communication - had to beg people to acknowledge us. My client was beyond frustrated and I will never recommend NAFC to anyone for a home lending experience.

Me and my wife are current customers of NAF when we decided to get a New Loan 3 years after the 1st loan we decided to use NAF as well. This turned out to be a Disaster of a decision as we were working with Alex Blanc who took 2+ months to close the New Loan. It was an experience we will never forget and never again will we get another loan with NAF as we had so many problems, too many to list.