New American Funding Reviews

mack davidson was the only reason i made this deal

Had everyone involved in the loan process get back and/or ask for things in a timely manner, mostly in the morning, not just before the close of day which delayed things further. This happened in the underwriters hands multiple times 3 days in a row. In addition, this loan was pre-approved several months prior and should have closed in less than 3 weeks. When I was asked for documentation, it was furnished within an hour at the longest. This has been my worst experience ever. : (

Noah did the best he could under what is 5-10x as much paperwork expected here, even compared to my most recent mortgage from 2013. Given that workload, it's a wonder if you EVER close on time, and it puts an unrealistic burden on the staff there. It's a chaotic, unpredictable, and stressful process, and no one has the energy to care about the 2 missed closings and impact on us, ESPECIALLY Sr VP Ray Miller. He said it was our fault for closing during the holidays. A nightmare.

Better communication from the loan officer we felt fhat we were not important we dont know how the loan changed from a H ELOC to a second mortgage the company selected to perform the verificatuon services were the worst they had bo knowlege used in rhe verification that resulted un four frustration days whey get a Zero frim me

They have the best assistant in Spanish who is Keyla Rosario but the closing math was never exact and always changed to hurt my income.

miscommunication, not telling me about limitation of seller concession, closing cost keeps changing, sometimes unresponsive from loan officer and loan processor

Duribg this process I was called I multitude of different names. Got emails with the wrong figures and was told to sign. Often had to reach out to get the process moving. I was talked down to multiple times throughout this process. The only good prt of this process is that despite these issues we still closed.

I was prequalified for $350,000 and found a home for $330,000. The week before closing I find out that underwriting was not happy with the debt to income ratio, even though my debts decreased since the last credit pull. My loan officer low ball estimated my home owners insurance (all quotes were significantly above the 1800 he estimated). I was told underwriting may make me pay off a credit card or two. So I kept asking for a closing amount, but kept being told they didn't have one. A week before closing, while I'm being pressured to quickly sign documents that were sent to me via email 2 days prior with no vommunication that they were emailed, I discover my closing costs went up by $3000! So I'm sitting in my vehicle at work being told I had to sign the docs or we wouldn't be able to close in time. The $3000 was a payoff of 5 credit cards. 3 of the cards belonged to my husband who isn't even on the loan. The amounts owed were incorrect. One of my husbands credit cards was at a zero balance and he sent the statement to show it had been paid. The balance they were saying he owed was $247 from the credit report. They verified the information and charged us $250 to verify a $247 charge. So essentially it cost us even more money to verify what the statement already said. Had the lender explained there would be a charge exceeding the amount owed on the credit card we would have had a $247 credit coming to us versus paying $250 for a verification card. I felt like it was done intentionally. Coming up with an additional $3000 at the last minute was stressful. Then the lack of communication between funding and titling almost caused us not to close in time. This is my 3rd home purchase and this has by far been the worst experience Ive ever had with a lender.