New American Funding Reviews

Better and more accurate communication. Lots of discrepancies

Having anything explained to us and having the process broken down for us would have been nice. We were also not aware we were the ones who got to decide when our rate gets locked in and we were not told that at all from you guys. Overall there was a huge lack of communication and we would have gone with a different lender if we figured out all of this sooner than a week before close.

David Lee is incompetent and a horrible communicator.

Transparency Transparency Oh let me see, transparency. In the beginning, everything seemed pleasant and I was made to feel comfortable in the process. I was told no appraisal necessary then I was told I had to have one just as I was leaving for Cabo. Super inconvenient and then I was told that the bill would be invoiced to New American. Then there was a great deal of back and forth that spanned over several days where I was told that my “Common-Law husband needed to be on the mortgage with me since we have filed our taxes together for 20 years. Only, this wasn’t accurate either. Then there was the judgement that I was completely unaware of but, I said that I would just pay it. It was only $1326 and I was fine with paying it because I had spent some time paying off debt and getting my credit in a good position. I was instructed to get a bill in writing and not to pay them as that would be done at closing. Getting the bill or payoff information was not an easy task. It took a week and several phone calls to get the payoff information faxed to Brennan Fellows (the broker). There was no mention from New American that I would need to settle the judgement on my own although I am happy to do EXCEPT I NEVER RECEIVED THE BILL which is needed to accompany the check (that was FedEx’d to me by the title company). I reached out to both Misty and Brennan who were so eager to finalize the deal but NOW offer no assistance in getting me information that only they have. Also, I think I’d I should point out that Brennan did a horrible job communicating. I would send him information that he requested but he did not forward it to Misty. Also, it was their decision to close on the 1st even though I met every deadline for the paperwork and this resulted in April’s payment to be drafted. When I asked Brennan about this he said that it was not his responsibility to know that I was set up on “automatic draft.” He said that I should just call Carrington Mortgage to request a refund. Seriously, he could have pretended to care or maybe he could have done his due diligence and asked! He is after all, the broker and the supposed expert. When we began this process, I told him that I wasn’t desperate to refi and that I wasn’t really sure that it was in my best interest financially. I should have stopped the process after I clearly was mislead about the appraisal but, I had a lot on my plate and he was convincing enough. One more thing that I forgot to mention is that our original number was $40k but somehow even with my appraisal being higher than anticipated, I was told that the remaining money would come from my escrow account. I’m now doubting that will be the case either. So, no I won’t be recommending this company to ANYONE.

Better communication

More in-depth explanation of process knowing we were in a move cross country. Multiple gaps in communication. When my wife tried to point out some of her questions was met with resistance and an unpleasant attitude from representative. Will never refer anyone to her in the future, overall poor experience extremely stressful.

Not being lied to and then ghosted.

To have worked with a honest, consistent, efficient, transparent person. Someone who actually valued their clients time (4 months to close) and had a mutual respect for the business at hand. To feel heard when issues were brought to light and not dismissed. Especially when another clients information was sent to me by mistake and I attempted to bring it to light. I hope this was made right by the client who’s privacy you breached.