New American Funding Reviews

you can call me 909-489-9021

The penalty for not signing escrow on 09/10/2021 was unfair, you guys chose not to be prepared to have a solution on a sensitive matter like COVID-19, you chose to wait 10 days and then you make me pai for it? Not happy about it.

Was a very stressful first time buying experience.

Significant lack of communication throughout the majority of the process. Ongoing follow-up was required for any type of response for 3/4 of the experience. We were consistently told that documents, or rates would be provided by certain days/time which were regularly not get met. And were very disgruntled by the expectation that we needed to make our rate lock decision in a moments notice because Kara had an anniversary dinner to attend, despite giving us the rate quotes at approximately 5pm that same day. She was very pleasant and friendly to speak with when we'd get her on the phone and very knowledgeable on options. But the experience could have been drastically improved with more regular response.

Tony was great, it was his support team that was nitpicking and sometimes rude. I have not missed a mortgage payment ever and have a A1 credit rating, yet they continued to question my ability to pay by making me restructure my retirement account, my house was nearly paid for and has four times the equity that was being refinanced yet they continued to stretch this out, at one point I requested to cancel the application due to frustration at which time Tony stepped in and pushed it along. Tony is a very hard worker and would recommend him to anyone, the company he works for not so much

I wish Ted would have kept up his level communication and service all the way to closing. Unfortunately, he did not inform me of a change in the amount of cash to close. My wife and I walked into title not knowing we needed to bring a check. Our realtor had to cover the cost and we had to pay her back. Ted didn't seem to care when I came him. Got the feeling we were already old news.

I chose New American Funding because of the A+ experience that I had with a refinancing earlier in 2021, and the amount of process transparency and efficiency that I experienced with Joe Morris. Because I had gone through the underwriting process for a nearly identical loan within the previous 6 months, was borrowing with an excellent (~50%) loan-to-value ratio, and had paid off a $1.8 million mortgage earlier in the year, it was logical to assume that the process would be quick and easy. It was not. It didn't start that way: Karen was friendly and helpful for the first two weeks of the process. But soon, I was deluged with underwriter documentation requests which far exceeded my previous recent experience, and did not get the kinds of explanations of those requests that would have made it easier to respond. When the timeline to close got tight, I repeatedly asked for status reports by email, voice message, and text message, and got no response for days. My attorneys and I were both in the dark as to what was happening and when. Finally, because of delays in the underwriting process, we missed our closing date. This created a domino effect on contractors and movers who were scheduled to come in the day after closing. Both better communication and better advocacy for our situation with processors and underwriters -- both of which we had experienced in our previous financing -- would have made the process dramatically smoother. Of probably a dozen such financings I have done, this was by a long shot the most difficult, and missed expectations by a mile. While I had frequently recommended New American Funding to others over the last couple of months, I regret to say I would no longer make that recommendation based on my most recent experience.

Need better organization and communication at close. Ours was a mess.