New American Funding Reviews

I SHOCKED TO SAY THE VERY LEAST THAT NEW AMERICAN FUNDING WILL NOT DEFER ANY MORTGAGE PAYMENTS DURING THIS PERIOD OF LOSS OF INCOME AT ALL. INSTEAD THEY WANT TO OFFER A FORBEARANCE, WHICH MEANS THEY WILL GIVE YOU 90 DAYS NO PAYMENT, BUT AT 90 DAYS YOU HAVE TO PAY THE THREE MONTHS DUE AT ONCE!!! AS IF WE WON A LOTTERY OR REGAINED ALL LOST INCOME OVER 90 DAYS. BULLSNOT. THEY SHOULD OFFER DEFERRALS JUST LIKE AUTO LOANS TO THE END OF LOANS. HORRIBLE PEOPLE NOT HELPING US AT ALL. NOT EVEN ONE START RATED AT THIS POINT.

BEWARE OF BAIT AND SWITCH TACTICS I cancelled the contract due to unauthorized charges being added at the last minute. This is the last email I sent to this company... Dear Shanna, Gaby and Supervisors; Imagine if you will, that it is your wedding day and you have been planning and preparing for it for 6 months and you believe that you and your groom are completely on the same page and then, as you are standing in front of the priest to say your vows, you receive a text from someone, letting you know that your intended has deceived you. He has done something that you had no idea of and would not have approved of if you did know. Now, here you are with an audience watching, under pressure to say yes and just follow through with the vow exchange, but you are confused and disturbed by this last minute information. But because all eyes are on you, you go ahead and say your vows, hoping that you can talk to your new groom after the ceremony and resolve this concern in a way that inspires your trust. It was a mistake, a misunderstanding...you hope... and in good faith believe that you will be able to work through it to a mutual resolution. However, after the ceremony, you try to discuss it with your groom, but to your surprise and sadness, he tells you that he already informed you of this information, when you know he did not, he stalls answering you while the clock runs out and then completely ignores your ultimatum that you will annul the marriage if he does not resolve the discrepancy. You know you are being gaslighted. Now, you are even more concerned and now you are angry. So, you inform him that you have annulled the marriage and then a few days later, he sends you the ticket for the honeymoon. Would you want to continue being married to this person at this point? How could I better explain how I feel? We had an agreement. The agreement was changed without my knowledge on the closing day. I protested and explained that I would cancel the agreement if my concerns were not resolved in a very crystal clear way. When no one had called me to tell me that the unauthorized percentage point and lender fee were to be removed by the 5:00 pm deadline, I mailed the written right to cancel forms to New American Funding at 4:48 pm on December 10th. It was sent priority express mail with signature for receipt required. It was scheduled to arrive yesterday by 3:00 pm and I will check to see that it did. My loan is not funded. I have exercised my right to cancel the contract as I no longer have any faith in the integrity of your company. Sincerely, Julie Hill

STAY AWAY!!!! Made me bend over backwards applying for a loan submitting documents, answering phone calls, etc. over 2 week period. Initial loan officer told me I was approved pending final review, then disappeared. His "manager" then stepped in after multiple inquiries to tell me I was not approved. SCAM!!!!!!!!

I have used this company for almost 10 years on multiple different properties. They were very professional and priced fairly. A couple of months ago I was assigned to a new representative by the name of Sergio. Upon receiving a proposal, I realized that he was charging me points and over a quarter of a percent higher then two other lenders I received a proposal from. Every time I presented a proposal to him he would drop the rate and fees. Towards the end he began to give me ultimatums in an unprofessional way. It was very disrespectfulI and I will not be using them again. He did the same thing with my cousin that I referred around the same time frame. You would think that they would price us fairly after such a long relationship and very solid credentials. It takes a very special skillset to lose a lifelong client and a referral that were both done deals.

Take my advice and stay away from this company i closed with them recently.. two weeks after closing they call me jus to tell me they made a mistake on my property taxes so my month payment would change from 2,124 to 2,424 told them i cannot afford that cause that wasn’t what i sign for at closing .. they said oh well u sign a paper at closing that can allow them to change the price. So now am stuck in a high payment that i never expect, and it’s not my fault…so please be careful of these company and what they do to get customers then change your payment after

Take my advice and stay away from this company i closed with them recently.. two weeks after closing they call me jus to tell me they made a mistake on my property taxes so my month payment would change from 2,124 to 2,424 told them i cannot afford that cause that wasn’t what i sign for at closing .. they said oh well u sign a paper at closing that can allow them to change the price. So now am stuck in a high payment that i never expect, and it’s not my fault…so please be careful of these company and what they do to get customers then change your payment after

Take my advice and stay away from this company i closed with them recently.. two weeks after closing they call me jus to tell me they made a mistake on my property taxes so my month payment would change from 2,124 to 2,424 told them i cannot afford that cause that wasn’t what i sign for at closing .. they said oh well u sign a paper at closing that can allow them to change the price. So now am stuck in a high payment that i never expect, and it’s not my fault…so please be careful of these company and what they do to get customers then change your payment after

The only responses we have received from them have then later been found to be lies. Tell you one promise and find out a complete lie. We had pre approval. Made an offer and then they tell that they can't find funding for it and the offer was 25k under pre approval rate. Only positive part is that State of Wisconsin enforces verbal contracts as well. So the empty promises will be paid for.