New American Funding Reviews

My loan was handled in the most unprofessional and biased manner by both Haley Conley and Sean Alexander! 1. Lack of transparency 2. Dishonesty 3. Poor business practice I will be filing a complaint with the NJ Department Banking and Insurance located in Trenton, NJ. I will be sure to include the trails of email to prove to them how my loan was intentionally delay.

Poor communication between different departments unacknowledged Requests and opinions Overpriced lender fees Loan officer Nguyen, R asking for critical documents last minute. And ignoring my request to not apply my closing cost to my new loan

Customer service is lacking to the extreme. They lost all of our personal paperwork in an uploaded secure portal...we had to resubmit multiple times. Time after time after time, my calls were never returned. In fact, even the closing had to be done twice.....the only reason I completed the loan was because I had money invested at that point and the rate was good! HORRIBLE SERVICE!

Joe is dishonest and impossible to get ahold of. I called Joe numerous times and left several messages and he NEVER returned by calls. He called initially when we applied for pre-approval for our a home loan through Beezer homes in Indian Springs. He spent time answering questions and appeared to have great customer service. He said we were welcome to apply with other Beezer lenders but no need to do so because New American Funding provided the best incentive. Once he had our business we could no longer get ahold of him unless he needed to talk to us. This level of communication continued throughout the remainder of the loan process. Then when it came time to close Joe told me that that the current interest rate was at 3.25%. We were 42 days out from scheduled closing. I asked him if we should wait til 30 day or 15 day rates in the hopes that they would be better. He said he checked and the 30 day rate is the same as the 45 day rate now, which is 3.25% and that was the best he is has seen in 2 weeks. I asked about lower interest rates that my wife had seen advertised. He said we would have to pay for those lower rates by buying down points and he didn't recommend that because it takes a long time to make that option worth the money it takes to buy down point. So we went ahead and locked in at 3.25% at 42 days out from scheduled closing. He also told me that paying the appraisal fee (which we did), would now cover any further money we would owe at closing and shouldn't need to bring any cash to the table at closing. When it came a few days out from closing when we got our final documents, it showed that we paid $1,600+ to buy down points to get our 3.25%! I absolutely did not misunderstand or miss Joe mentioning this during our phone call at the time of locking in the rate! I am not in the finance or mortgage business, so I paid special attention to everything he said, asked a lot of questions, and wrote everything down! There was never any mention of buying down points! Especially since he advised against it! I tried calling Joe again to ask about the mix up. And of course he never called back. I left multiple messages, but still not phone call. Despite the fact that $1,200 dollars of the 'buy down' came from New American Funding incentive, we still had to pay $400+, and that incentive money could have been applied to the additional fees of closing early and HOA fees. So we surprised to find out that we had to bring $1,300+ to closing! So then we either had to pay the money to close, or delay the process further waiting to get ahold of Joe! I should have read online reviews about Joe before I agreed to giving our business to New American Funding as it appears from the reviews that others have had similar experience with him. Joe is dishonest, horrible at communication and representing the client! We are already talking to other lenders about refinancing in the next few months!

There was little to no communication. She seems completely unable to respond to inquiries both via phone and email. Our notary was scheduled to come on a day when neither my wife or I was home. We also had no idea the notary was coming due to no communication. It seemed as if we were an afterthought in the whole process. Our escrow is not set up correctly. We have overpaid by at least $1500 due to how long the process took, and Chrissy is apparently unable to communicate with us about it. Our previous experience with this company was so positive that we were highly disappointed this time and would likely not use the company again or recommend anyone else to use it either. Worst loan experience of my life.

Even though the majority of the communication for the loan was through my husband the one interaction with Matt over the phone was unpleasant. He was condescending and actually interrupted me in mid sentence. Didn’t listen to my concerns until I had to repeat them multiple times and force him to listen. I’m unaware of the level of influence he has about the process but asking for my employer contact and additional documents the day before closing is unacceptable. My loan should be treated with importance. Instead of just another transaction. I will not recommend Matt, the team that work on my loan or New American Funding. Extremely dissatisfied.

I highly advise New American Funding to properly vet any third party programs such as “RE HOME CONNECT” to ensure every buyer is afforded consistent and beneficial services in a reasonable time frame before offering lender credit to the buyer for using the service. I only chose to go with New American funding because of the lender credit offered to me for signing up for RE Home Connect, and the third party provider cost me the home of my dreams due to their lack of communication and time sensitivity, not to mention the lender credit because I was forced to proceed with a professional real estate agent. NAF underwriting made several mistakes when analyzing my credit and financial information as well as including a dependent and an additional member of my household which caused them to suspend my file because they thought I didn’t meet the residual income requirement when in reality, I was well with in the limits. I asked if refinancing my vehicle for a lower payment would help and was told it was worth a shot, when in reality that only made things more difficult and was never even necessary. My loan officer notified the sellers agent that it didn’t look like I was getting this loan, which of course caused the seller to lose confidence the sale was even worth waiting on. Closing was postponed nearly 2 months past the initial closing date because of all the mistakes that underwriting and my loan officer made. I almost lost my deposit and the home, and still had to pay a fee to lock my rate and extend it because of your mistakes. Overall, completely unprofessional and the worst experience I’ve ever had with any lender or any business period.

Communication. The process took an unreasonable amount of time which didn't even bother me too much. I understand being busy, labor shortages,etc. My biggest problem is the lack of communication. My emails and phone calls were rarely returned and mostly ignored. My second problem is that because of the delay in the process my credit was pulled multiple times and the terms of the deal changed with no communication. I received multiple Docusign requests to pay thousands of dollars more than the original terms with no call or email explanation. I am glad the deal closed and I am thankful for the terms of the new loan. Brandon is a nice guy. I would have appreciated more communication along the way.