New American Funding

Unfortunately, the worst was yet to come

My experience was so horrible that it almost didn’t seem real. I bought my first home last November.

My relator, who was great, recommended Perry Bakker with New American Funding for my loan since I needed money from CHFA for my down payment.

I should not that Perry Bakker left New American Funding and went to work for another lender 2 weeks after my closing, so perhaps he was not as diligent in his job since he probably already had “checked out”.

Everything seemed to be on track until Friday before closing.

The closing was scheduled a month in advance for 9 AM on a Monday and I had taken the day off from work and had friends also take off to help me move.

I had also made it very clear that I absolutely could not take off from work any other day that week because it was both the month-end and quarter-end closing at my company.

At 4 PM on Friday, Perry called to tell me that he wouldn’t be ready to close at 9 AM on Monday and he had moved the closing to 3 PM.

So that meant I would not be moving on Monday as I had been planning for a month.

On Monday, I waited all day for Perry to call and tell me the final amount of money I needed for closing so I could get a cashier’s check from the bank.

At 2:30 PM, I finally called him since the closing was supposedly in 30 minutes. He said he still didn’t know.

I asked him, “Is this closely going to happen today?” He said, “Yes, absolutely.”

So he told me to get a cashier’s check for an arbitrary amo8unbt that he was sure would cover the closing costs and just come to the closing location.

The Title company would refund me the difference. So I did. And so did my realtor, the listing agent and the seller.

And there we sat for 3 hours, waiting for paperwork that never came through. At 6 PM , the Title company kicked us out and told us they were locking the building.

The seller had to sign her power of attorney over to her listing agent because she was unwilling to come back the next day to sign paperwork.

I can’t blame her. They rescheduled the closing for the next day at Noon.

The following day, I called Perry at 11:30 AM to make sure he had all the paperwork before I left work.

He said yes. But that was a lie. I got to the Title company and they still didn’t have all the paperwork So I sat and waited again. I finally closed at 1:30 PM.

The following week, I got a call from New American Funding telling me I needed to resign some paper’s and get them notarized.

I was at my company’s annual meeting the whole week, so this was very difficult. But I got it done.

A couple weeks later, New American contacted me again to resign more papers.

This time, I put the brakes on and decided to examine what they wanted me to sign again.

I discovered that there was one form that I had already signed with 2 different interest terms and maturation dates and now they wanted me to sign the same form for a third time with yet another different maturation date.

I refused and decided to consult my lawyer. New American Funding then threatened me with legal action because I had signed something agreeing to sign any necessary paperwork after closing.

I finally ended up speaking with a lawyer at New American Funding who apologized profusely for the mistakes they had made on these forms and offered to send a notary to my house to get them signed and notarized again.

A month later, New American Funding sold my loan to another lender and I was hoping that would be the last I would ever hear from them.

Unfortunately, the worst was yet to come. Five months after I closed on my house, my mortgage still was not showing up on my credit report.

I was pursuing this only with my new lender, since New American Funding had only owned my loan for the first two months.

I was therefore shocked when I received a notice that my credit score had dropped from 799 to 520!

Five months after I closed, New American Funding reported my mortgage as five months delinquent!!! I was devastated.

I called New American Funding nearly every day trying to get them to fix it and I sent disputes in to all 3 credit bureaus.

New American Funding was completely useless. They kept telling me they had sent a correction to all 3 credit bureaus, but that was a lie.

Day after day, my credit score remained at 520. The disputes that I filed finally worked and the loan was removed completely from my credit report after six weeks.

What a nightmare. If I had wanted to buy a car or get a job or do anything that required good credit during those six weeks, I would not have been able to do so.

Now my mortgage shows up on my credit report now as having been opened by the new lender and it looks like I bought my house 2 months later than I actually did because the New American Funding loan is not on my credit report at all.

I wish I had been able to get it accurate on my credit report, showing the date of my initial loan and my two payments made to New American Funding, but it is best to just let sleeping dogs lie.

Is New American Funding a scam?
New American Funding is a scam and a bad service provider as per the report filed on dirtyscam.com. They are not aggressive towards their customer satisfaction and complaint grievance.
Is New American Funding legit?
First New American Funding is not a legit business owner or provider. You must take necessary precautions/measures before buying or using their services.
How many reviews are submitted by New American Funding’s consumers?
There is/are 47 review(s) posted about New American Funding and it indicates that the severity of the scam is Extremely High.
Where is New American Funding located?
New American Funding is located at 5299 DTC Blvd #300, Greenwood Village, CO 80111, USA. You can contact New American Funding by dialing (800) 450-2010 or visit their website newamericanfunding.com before filing a lawsuit. We are no way affiliated with better business bureau or yelp reviews platform.
How much monetary loss is incurred by New American Funding’s customers?
According to the report(s), US $1599 was the total loss incurred by New American Funding’s customers.

Write a review or complaint on New American Funding

Your email address will not be published. Required fields are marked *

47 Reviews on New American Funding

  1. Frustration!

    I wanted a cash out refi. As soon as I competed my application my loan officer stopped paying attention to my loan. When the processor would ask for info, I always responded within 24 hours. She always took at least 2 weeks to respond to my questions. Along the way, the underwriter asked,twice, for info on the HOA. I have none. Then there was a request for condo docs. It’s a house. Finally, after 9 weeks I gave up. I felt like I was dealing with some rude people who just set up a mortgage company several weeks earlier.

  2. Poor communication

    I spoke with Mark Ray over the phone. I asked what rates they were offering for a refinance loan. He seemed pleasant and gave me a great rate verbally. He checked my credit which is very good. He told me he would call me back in 2 hours and let me know different Scenarios.

    Mark never called me back despite me texting, emailing, and calling him. 4 days later Mark send me an email stating loan terms that were very high and not In line with what we verbally discussed. The email wanted me to electronically sign to start the refinance with crazy high interest rates on a 15 year conventional loan at 4.25% and that was with points. Closing costs were also expensive. . Mark had verbally quoted me 3.75%.

    Please be cautious!!!

  3. After reading this review I just deleted the message from New American Funding inquiring to ref-finance my house.

    Your review looks like it will save me hours of heartache refinancing my house. I just deleted the call from their company New American Funding responding to my inquiry.

  4. I appreciate this review. I’m in the process of a refinance with New American Funding - and now just prior to closing? Nothing seems legitimate.

    All seemed normal for my refinance with New American Funding. I esigned the closing disclosure documents and was notified that it would be a minimum of three days following prior to scheduling a closing. The very next day, I started receiving a barrage of calls and emails from the loan officer and senior loan processor telling me I had to close the following day or day after – (the 22nd of January) as this was the final closing day of the month. (?). No documentation or conference to review the finalized refinance financials, no discussions. Just sign your investment away. I then forced them to relinquish all documentation they had to prove outstanding debt on my current mortgage, payoff balance, and my escrow excess. I agreed to close Sunday which then somehow became okay to close in January (hmmm). But following, they mentioned I could not provide a bank cashiers check or money order for closing cost payment – I had to wire my payment to their account for funding! There is no written documentation when that takes place as to what that is for!! That is 99% why I am cancelling today. The final 1% is that the title agent they have opted to call at 9pm – and the 2 people at New American Funding know I work very long hours of which I told them I use do not disturb at 6pm. I told them my specific schedule and not to call after 6pm. This title agent called back to back to get through the do not disturb function intentionally as one does in an emergency to tell me about our Sunday appointment. All combined along with over (30) phone calls in the last 3 days and at least (30) emails – in duplicate to both my personal and business accounts? Definitely appears to be a scam.

  5. Person answering phone unintelligible and rude

    I called to inquire about a refinance. The person answering the phone was not only unprofessional, but was unintelligible and rude. I could not understand her and when i asked her to please repeat what she said she seemed to get angry. When I asked if there was a loan officer I could speak with she yelled WHAT STATE. If this is who they have representing their company, I can’t imagine what loan officers are like. No way would I trust them with my mortgage.

  6. DO NOT DO BUSINESS WITH THIS COMPANY

    On September 25th I contacted New American Funding for a refi cash out loan after having a nightmare experience with Carrington Mortgage. I spoke with Antwaun Dawson and told him that one of the reasons I didn’t go with Carrington is because of the poor communication, he assured me this would be different with NAF and after providing him with my financial information, I was told I was approved. I uploaded all the documents they requested, signed the paperwork they sent me and waited. On October 9th, after inquiring the status of my application via email, Antwan told me that they were “still pluggin away” and that it would take a couple of weeks and we should be at closing. On October 23rd I received a Loan status updated that explained that I was on step 1 and they would be in touch. On October 24th I received another update that I was on step 3 (there are 5 steps to completion), and again on October 26th I received a notice to sign documents in my portal which appeared to be the exact same documents that I signed originally in September.
    November 2nd, I sent an email to Antwaun asking on the status of my loan, he did not reply so I called that following Monday, left a message on his voice mail with no reply. I called back later that afternoon asking to speak with someone, they told me Antwaun was not in the office, would I like to speak with his manager Jeffrey Keter who just happened to be on the phone as well, so they left him a message. I waited a few hours and called back when they told me that Jeffrey was on the phone and they would leave another message. Finally, about an hour later Jeffery called me and went through my application with me like he had never seen it before. Jeffrey told me that I was not approved for this application and apologized for the mix-up, he told me that Antwaun should not have proceeded with this application and said he would talk to him about it, he also gave me a few options like adding a signer and I told him I would have to think about it. He told me that he would email me more information as well as his contact information. I never received that email; I never received a call from either Antwaun or Jeffery the following days.
    I had contractors on hold to repair my home and waiting on approval from this loan, I put off repairing a leak from my HVAC system thinking I could save some repair money by purchasing a new one with the money I received from my refinance. I had no idea that it was going to take as long as it did and mold started growing inside my walls waiting to hear on this loan in which I passed on this information to Antwaun asking him to check on the status of my loan several times only to not hear anything from him. NAF put me off for nearly 6 weeks. I am very angry and disgusted on the way I was treated by this company. I HIGHLY suggest not doing business with them.

  7. Disappointed by professionalism

    I had a pretty lousy experience with a loan officer at New American Funding named Patrick Rowles. I inquired about a refinance and he was handling my file. It was in the early exploratory stages and I specifically instructed I did not yet want him to run my credit (hard inquiry) but he did so anyways. His response to his mistake was “sorry, I was on autopilot.” I had a hard time accepting that as an apology so I took my business elsewhere. To add insult to injury there is nothing he can do to rectify the situation. I’ll take my business elsewhere. Do not recommend!

Reviews:47
Reported Loss :1599 $
Severity of Scam :Extremely High
Reported by : Anonymous
Views :