New American Funding Reviews

First of all I dont even know a John LoPresti. Never talked to him nor heard of him. The team that I worked with on this New American funding was the worst I have ever delt with. I have been in Real Estate 20 years and never have I had such a poor comminication with. They never contacted escrow, nor myself until I contacted them. And it took at least 5 to 6 contacts before they even responded and when they did it was never full answers. I will caution my clients to think twice about going to your company!

Communication and competence

Lack of communication, lack of sense of urgency to get the loan proccessed, lack of knowledge to prevent from issues arrising. Michael is reactive to situations rather than being pro-active. We delayed closing 3 times and my clients had a horrible experience with Michael and the entire team. My clients cried due to lack of professionalism with this team and Michael and their team brushed it off like it was not a big deal. Closing delayed 3 weeks longer than it was supposed to take. Ive been in this industry for a while and closed many deals with multiple different lenders. This was by far the worste experience for my clients and me. I cant give any worste review than this!

Not trustworthy at all and completely unprofessional. I spoke with him to confirm that a verified pre-approval was completed on his borrower. He gave me his word, put his 20+ years of experience on the line - only to find out two days later that the pre-approval that he provided, was never verified at all. No documents were verified and the transaction fell through 2 days after he gave his word to me. He told me multiple times that he would NEVER send a pre-approval letter, if he had not verified the information that the borrower provided. I called him afterward - expecting that he would at least own his mistake and all he could tell me was that he did NOT lie. At least acknowledge that he gave me his word and that clearly counts for nothing. I could understand if the financing fell through later on in the deal after various things have occurred but this was totally unprofessional, it was 2 days after the buyers made contact with him so clearly they lied about the information and he did not bother to verify the information like he said he did. I will never do business with this company because of this experience and now the sellers will have a delay in selling the home because all offers and showings were cancelled due to him giving his word. Do not recommend!!

AFTER SPENDING 1,000'S OF DOLLARS FOR MY RELATIVE TO GET A HOUSE!. These people tell her randomly she has to come out with all this money to pay off student loans and taxes in full!! After giving a pre-approval letter. They wasted so much energy and time at this office! The Manager doesn't want to help the Elderly!

This place claims to be the best realtor in the state but they don’t return phone calls and they don’t help get you the best quotes very frustrating. They also like to bash other lenders and offer you the best experience, they’re no better than other lenders.

DO NOT USE THIS COMPANY!!! I purchased a home from a friend, no agent or lawyer involved, and it should have only taken a few weeks to process. Instead, it took 3 months. I ended up having to stay in a hotel for 8 days because my lease was up and I still hadn't closed yet, and I was offered nothing but BS lies and excuses the entire time! I tired to get management involved, and it just got worse from there- I then had 2 people pointing fingers and not taking responsibility for mistakes that continued to be made.

I’ll start off with, you will get A loan. They will tell you everything you want to hear. They will tell you one thing on the phone and it will change once you receive your disclosure. I received the wrong payoff balances and some that were paid off years ago. Told them multiple times to fix these before we closed but they just acknowledged me and never did anything to fix it. Jonathan Marlowe was rude to me and failed to answer his phone 99% of the time during our loan process. Would tell me one thing and the next day it would change and there were days and days that would go by with no information and his excuse was we weren’t his highest priority. But thanks for giving me a loan that I can’t use to payoff anything, real fun experience! Apart from us waiting awhile to get our appraisal done, the rest of the process took months so don’t expect to close as fast as any other mortgage or refi.