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New American Funding Seem Like Scam to Me?

Who have tried to get a loan from New American Funding and experience bad service? The people in the Tustin office are ignorant, and incompetent. Ken Michael refer these idiots over the radio, and they are not reliable. Do not answer calls, operator was cursing over the telephone, not professional at all. Before you go to this place try shopping around first.
  • August 05 2014 - Tustin
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Answers (10)

Profile picture for VickyTM
I am almost going 30 days past my original closing date. Over 60 days all together.  NAF is a joke. I am praying seller backs out so I dont lose my 2k earnest...since I'll also lose around 1k wasted on appraisal, inspection etc.  

They couldnt even get my tax transcript.  I had to call the IRS myself.  Amazing, I just wonder if they operate off a basement.

Sat on my file for 2 weeks thinking the property was a flip instead of addressing the issue with the title company.  My broker, oh boy, I am not even going there.  This transaction has left me with a bad taste in my mouth of how the mortgage system operates these days.  If I ever buy again it'll be seller financed even if the interest is higher.
  • June 23
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Profile picture for jazzterra
ABSOLUTELY, they are UNPROFESSIONAL!  I was going to re-fi through them, got all the way to the end...two and a half months later...BAIT & SWITCH.  They do NOT keep you informed.  DO NOT do business with this company.
  • February 11
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Profile picture for sunnyview
"We apologize for the unforeseen delay in reaching her and that we were unable to assist her with her financial needs at this time. "

Isn't it better to avoid problems first than apologize for them later? Hopefully, New American Funding has taken time to address the original poster's complaints at the office level to prevent similar complaints. 

You can't make every client happy, but how you address those issues makes a world of difference.
  • August 13 2014
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Profile picture for customerservice30
New American Funding's Customer Service Management reached out to this prospective borrower on 8/6/14 to discuss her complaint against New American Funding. We thanked her for her time and feedback as New American Funding takes any and all complaints seriously and have looked into this matter further and have handled it accordingly. We apologize for the unforeseen delay in reaching her and that we were unable to assist her with her financial needs at this time. She was appreciative of our call and advised she would update her posts to reflect our discussion.
Respectfully,
Customer Service Management
New American Funding
  • August 13 2014
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I know people that work at New American funding and I do not believe they're a "scam shop". With that being said, my cousin was going to refi with them a few months back and I pulled him out just in time. I sent him to a good friend of ours and he hasnt stopped thanking us since! But you nailed it, ALWAYS shop around to find the best rates and search reviews before you decide who to go with. I worked for lenders in underwriting for 9 years and i can tell you that if your not familiar with the paperwork take the time to educate yourself before you sign anything. If you need a referral or have any general questions, feel free to send me a message and i would be happen to go over the details with you. DISCLAIMER- I'm not trying to sell you a mortgage or on a specific lender, I simply like to help educate people on the inner workings of lenders and the process/ forms that go along with it. 
  • August 13 2014
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I stand corrected. I heard Ken Michaels one day and wondered at the way he pushed people in all situations toward New American Funding. It sounded like an infomercial.  When I saw your post, I Googled him and saw his name repeatedly associated with that company, but did not open the sites and assumed he was a loan officer  He is not. I apologize for any inconvenience or misconceptions this may have caused.
  • August 08 2014
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I'm sorry you had a bad experience.  I work out of New American Funding's office in San Diego and was at Tustin for a year and a half.  I'd be happy to try and work things out for you and would gladly put you in touch with our Customer Service manager.

We were the #1 Private Lender in Southern California last month and #3 overall behind Wells Fargo and BofA so we are definitely not a scam and we would love an opportunity to rectify this.
 
  • August 08 2014
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Hi,

Look for another lender/bank that will give you the service that you want. 
  • August 07 2014
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Ken Michaels is a lender at New American Funding. He repeatedly refers people to his business. That is why he is on the radio in the first place.
  • August 06 2014
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I would suggest looking on zillow for a Lender and give them a try. I'm not sure about that company but I have heard about them on the Ken Michael show. Good Luck!
  • August 05 2014
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