I have bought and sold many homes in my years and used many mortgage companies along the way but NOTHING can compare to the terrible experience I had with New American.
The administrative staff chided me for being “too engaged” in the process.
The account representative seemed to lack interested and, at one point, even sent to another lender all my financial information believing I was applying for a second line of credit.
Had to nip that one in the bud quickly as that was not my intent and I had to insure the additional lender destroyed the confidential information which New American passed on.
The loan went through and settlement (although there seems to be only 1 person who can release funds and he was traveling so it took longer then normal as they had to be found and approve the transfer of funds) did occur New American acted like they didn’t care; like earning my business was not the least bit interesting to them.
I received a survey from New American and responded with my disappointment asking that they call to discuss.
Think I got that call? If you said “No” you’d be right. I understand the rules of lending have changed and it is now more difficult to secure funding and that’s why having an experienced lender who is engaged with their client is more important than ever.
That said I’d definitely look elsewhere if you are searching for a home mortgage lender.