New American Funding
Reviews and Complaints

Before signing in August, it's now November, I had to overcome many document issues with the loan agent. First documents had no loan interest rate or years of term, I refuse to sign package without that information. Second documents had wrong year terms but agreed interest rate. The third documents had right terms but increased interest rate. After agreeing to proceed with loan, issues with the ex on the title arose, I provided court document verifying property was awarded to me and ex would be held harmless of any transaction I made with the property. Underwriter said I would have to get a quitclaim deed and satisfaction of judgement and recorded and did so. Then they wanted me to go after my ex for her social security number and this possible would have cause conflict in our civil relationship as she would refuse and wonder why I am asking for such private information; I told American funding no and Steffany Moreno told me it’s out of their hands, not complying means I would be denied the loan. They went as far to say my deed of reconveyance was not valid this cause me great concern about being scammed

At that point I told them public records might obtain the necessary information they’re seeking, and on their own, dealing with the ex. Carl Velasquez manager fired or reassigned the loan agent who was helping me and took over the application. From the start he was rude and continued that behavior refusing to address me as a customer or by name only by sir sometimes. I have never dealt with a Hispanic agency before. There seem to be a lot of incompetence and disorganization on how things are done. I purchased this home and refinance it before without all the drama New American funding has provided.

Be careful.

1. My mortgage company New American Funding had me in forbearance for 18 months. In November 2021 they agreed to add the forbearance money to the end of my forbearance and Fannie Mae had a new thing I didn't need to fill out any paperwork they would just take stated expenses over the phone and do a mortgage modification.

2. 10 days later I called because I had not heard from the mortgage company but I was told that the modification was done and that all I had to do was call my payments into the home retention department every month before or on the 16th of each month or I would have to pay a late fee. I was required to do this for 3 payments or 90 days. I was told under no circumstances to miss a payment or the loan modification would be null and void. My payment went from $1801 to 1399.55

3. December 14, 2021 first payment made $1399.55 January 15, 2021 second payment made of $1399.55 February 14 third and final payment of the loan modification was made and I was given a confirmation number. I was congratulated that by the representative for completing my trail modification payment period and account would be updated and I could start an automatic deduction from my checking account on the 15th of every month like I had done for many years.

4. March 15, 2022 made my forth payment and congratulated again. I asked if everything was find and I was told absolutely they were just running a bit behind in the home retention department.

5. On the evening of Wednesday April 6, 2022 at around 8:50pm I received a phone call from the mortgage company telling me my payment of February was missing I never made it she said. I said wrong I made it on feb 14, 2022 and gave her the confirmation number. Then she todl me she was calling to let me know I was being sent a notice of intent to file forclosure. Then she looked and said there is a problem something is wrong is not reflecting correctly in the computer system. I said yes a big problem I made every payment on time as required by the modification agreement. The representative told me check your bank to see when the money came out. I was a nervous wreck and there was no was I was checking anything and started asking questions. The representative told me the account was being sent to a supervisor for review and that a supervisor would call me on Friday April 8, 2022. After a case review and a pull of the phone call to see what might have gone wrong. I asked have you ever sent me a letter stating I was late I was told no. Then I asked have you ever sent me a letter telling me I was late or the payment wasn't made or taken out of my checking and I was again told no.

6. I contacted my bank on Thurs April 7th to see how many payments had been taken out of my account Dec had been taken, Jan had been taken, Feb was not taken out because they never got a request or if they did the request was recalled by the morgage company. March payment had been taken out. I had my ex-partner call the mortgage company and ask to speak to a supervisor and he was given the same information. He was told no February payment and it was under supervisor review and told that is all they could say. He was told that I would receive a call from the supervisor on Friday April 8, 2022.

7. Friday April 8, 2022 I called around 8pm to be told I would have to wait until the account is reviewed that it most likely would be Monday 4/11/2022 before I would hear from the supervisor. I was told they were sorry for whatever was going on if anything but I would have to wait until a supervisor reviews the case file. Today is Monday 4/11 and no call. I down loaded the payment information and statements just to be safe and in case they decided to change something.

8. By certified mail myself and my ex-partner were served with the packed attached notifying us of Intention to file Forclosure and paperwork that would need to be filled out immediately to see if we could receive a modification. Initially it was state information but because we were being accuse of defaulting now we had to fill out the paperwork and show proof. Als in the mail we received a check for I think 2 payments that I had made a long with an explanation of broken agreement. We never broke the agreement we made all payments on time.

9. Friday April 8, 2022 I called around 8pm to be told I would have to wait that it most likely would be Monday 4/11/2022 before I would hear from the supervisor. Today is Monday 4/11 and no call. I down loaded the payment information and statements just to be safe and in case they decided to change something.

10.Today Monday April 11, 2022 I have not received any phone call from the supervisor or anyone else at the mortgage company doing any investigating. We received by certified mail another notificatIon this time it says Intent to Foreclose. Since this is really looking serious now I downloaded the payments, the monthly statements along with The package received via Certified mail. When I looked them over a child could have figured out what had happened. December's payment credited $1399.55 to my mortgage company before the 16th all good. January's payment was made on January 15th but not credited until Jan 18th which made the payment late basically canceling the modification even though the payment was not late. February's payment made on 2/14 was given a confirmation number and is not showing on the payments or statements. It is showing in their computer system when we call the mortgage company however they can't say where the money was credited. The mortgage company is supposedly pulling that recorded call on Feb 14th to see what happened. The representative said they wanted to see if I gave the representative taking the payment the wrong information. I told them impossible because they used the information on file. I believe from my reviewing the paperwork today that the computer had posted January's payment on the 18th and kicked my account out of the system so the system canceled the payment I made in February even though there is a record of my making the payment with the mortgage company. This would explain why the payment was canceled on the mortgage companys end and never got to my bank. Their computer system still allows a representative to take a payment. Now on March 15th I made a fourth payment and was told either by the end of March or early April once they reconciled everything my account I would be back on line and I could do automated payment from my checking acount again. The payment was again taken out of my account on Mar 15th I have been notified by the mortgage company that they intend to file forclosure and has electronically notified the Office of the Controller of the Currency of that as well. My ex-partner and I have called to be told sorry you have to wait. We have Aprils payment that needs to be taken over the phone by April 16th which I am terrified to attempt since they sent things back to us.

On 2/11/22 I received a letter that was an escrow letter indicating that I had a shorts of $3,227.36. This shortage was due to increase in my taxes. When I called my township. After numerous calls with my township they confirmed that an error had occurred on their part. The township stated that they would communicate with the escrow department of Newamerican funding to let them know that an error had occurred on their part, and what ever adjustment that it would be corrected. For the month of march of 2022 I was told by both the township and new American funding that the escrow would be corrected and my payment would be adjusted and that never happened. My payment for the month of February 2022 was $1,897.66 and the new payment went to $2,400.01 for the month of March 2022. We are in the month of April and still no changes have been made. New American funding has never once called me with type’s of updates. I have spent countless hours making all the calls to both the township and new American funding. When I call new American funding I never get one specific person that has some concrete knowledge of the situation. This has been very stressful for me and my wife . We are both seniors with a fix income and this has been a heart ship for us. I am requesting that someone call me as soon as possible.

I would not recommend this company. They lack providing customers with correct information and misleading. Worst experience in my life and all I wanted was a cash out refinance on a paid off house so that me and my family could fix the house up to continue to live safely and secured. But I have a unique house and off my 30q foot on guidelines they measured with a iPad. Their one mistake has completely destroyed my life.

My wife and I we considering the purchase of a vacation home in another state, as we travel there for Porsche Club events a couple of times each year.

After hearing the radio advertisements, we decided to contact New American Funding to get pre qualified for a mortgage. Filled out the information that was requested, and I was informed that I qualified, without filing a joint credit application on my income alone, and Fico Scores.

After a discussion with my wife, we decided not to pursue buying a second home or taking on another mortgage, we could stay in quite a few hotels for 200K. We'd put the money we had saved for the down payment to other uses.

After declining the offer, then the hounding began, emails, phone calls, etc. I recieved a letter stating the loan application had been denied, and our credit scores at the time were included in the denial letter from the three credit reporting agencys. We had excellent scores!

I decided to purchase another collector car, athough this time I decided to finance the purchase instead of paying cash for the entire ammount. I was denied because New American Funding has put detramental comments on my credit report.

First off I never signed a contract for a mortgage, only to run a credit check to see if we were pre qualified for a mortgage.

People Beware!

We had excellent scores, after dealing with New American Funding, our scores have dropped 50 to 80 points! If you decide not to purchase a mortgage with New American Funding, they'll trash you're credit.

We don't have any credit card debt, car payments, charge offs or late payments. we pay our bills on time. For the most part we don't finance anything, we pay cash or we don't buy it. The only loan we have is the mortgage on our Las Vegas home, and we've been here 24 years.

One phone call to New American Funding, and our FICO Scores are trashed! I wouldn't do business with these clowns if they were giving away free money!