New American Funding Reviews

Need better communication

It would have been better if he answered his phone, returned calls, or be easy to communicate with.

The entire process of buying this house was awful. Through the entire process we worked with 5 different people whether through phone call or email and every single one of them passed along different information and in the end all of it was incorrect and caused a stressful 800 mile move for work to be even more stressful with uncertainty over this house. For a highly rated mortgage company, all the people there seem to care more about landing the mortgage than they do about how they accomplish that. I would never recommend anyone work with this company and am anxiously waiting for the day I can refinance out of this half assed company.

Overall, a TERRIBLE experience. We started off with one Loan Officer who told us how the process was going to work and what was needed from us. He was very upfront about things and was communicating with us quite regularly. Shortly after, he quit. A different loan officer took over the file and immediately went on vacation, handing the file over to a third loan officer. The loan processor asked for the same documents SEVERAL TIMES, again and again. Then she was let go and a different loan processor took over. The second loan officer came back from vacation and started creating different contingencies and was not honest about the actual requirements or just did not know what he was saying or asking for, postponing the closing date - that of course, happened when he decided to reply to the dozen emails we had sent... I had to get TWO extensions of close of escrow. Loan officer completely disregarded this and we almost needed a third extension until we included escrow and both realtors who began to realize how incompetent this lender was. The underwriter took about 4 weeks to review the file (either that or the loan officer/loan processor did not hand the docs over to the UW in time, either way we had to deal with a very upset seller). When we had a candid conversation with the loan officer, he replied by saying "we can stay here all night saying this person promised you this or this one promised you that". VERY CONDESCENDING. Every day their requirements would change and they would blame either on the underwriter or on the fact that it was an FHA loan ---- however it was an FHA loan since the beginning and the different requirements did not come in until the very end? Lack of communication, changing requirements all the time. I had to get TWO extensions of close of escrow and almost lost my deal and earnest money. Loan officer lied about the deadline for the rate lock. THEY DO NOT COMMUNICATE amongst themselves and keep asking for the same thing. Amateurs

Vincent disappeared in the middle of the transaction. The processor was a nightmare.

I only received one or two updates from Brent and his team which included a request to delay the file. Our mutual client also mentioned they had requested repeated docs and did not seem to even get the process started until just about a few days before the close date. They were very nervous and I was and with no communication from Brent and his team, I felt blind sided and truthfully felt as is our file had been abandoned and was going to bust. I actually asked title to please help me get updates. I understand sometimes things happen, but communication would have been the key to keeping the client and myself and all other parties involved at ease. We just didn’t feel that sense unfortunately.

As the buyers agent for this file, I believe Jarrod was removed from this transaction after his failure to update myself and my buyer as the loan was being processed. Overall my entire experience with New American was chaotic and unpleasant. The entire team involved in this file failed to communicate with myself and my buyer, and amongst themselves. The loan processor Tori refused to answer my calls, and would respond intermittently to emails. I hope to never have the displeasure of working with this mortgage company in the future, and would absolutely never recommend them to a future client.

I only dealt with Matthew- who initially told me the process would take 2.5 weeks- in the very beginning then I dealt with Michael Fridline. The communication was severely lacking. There were items I could have gotten for him in a far more timely manner than him attempting to do it on his own. I had to contact Alberto many times to get communication initiated again with Michael. Michael is a super nice guy, very soft spoken- but I wouldn't recommend him. The process end up taking over a month and a half and I feel this happened because he forgot many things that were needed which continuously pushed things back further and further. What could have made it better: Constant communication. I had no idea where we were in the process most of the time. I feel like with better communication I could have been more prepared to submit what was needed, I could have retrieved the paperwork that was needed from the county and state in a more swift timeframe. Everyone gets a ton of emails a day, I wouldn't have minded emailed updates throughout the process. I just feel it was very messy all around.