Review and analysis of over 20 complaints against New American Funding
New American Funding consumers have reported over 20 official complaints related to Loan servicing, payments, escrow account. Out of the 20 consumer complaints against New American Funding, 10% were disputed by the consumer (i.e. the consumer was not happy with how New American Funding responded to their complaint) and 95% were processed in a timely manner. 5% of consumer complaints against New American Funding resulted in the consumer receiving monetary compensation (e.g. money, cash reimbursement, etc.) and 0% resulted in non-monetary compensation.
Submit a complaint with the Consumer Financial Protection Bureau today
File ComplaintStop harassing phone calls, know your rights and what you can do to stop them
Stop Calls
New American Funding Mortgage loan servicing, payments, escrow account August 29, 2016 - New American Funding has not processed my lien release paperwork. I paid off my home on -/-/16 and was told it would be -60 days for the paperwork to get through - -. I recently was told they actually had n't filed that paperwork until -/-/16. And was told today ( -/-/16 ) that it was still being processed in their system. I want the lien released and am tired of being lied to.... |
New American Funding Mortgage loan servicing, payments, escrow account March 24, 2016 - I refinanced my primary mortgage in 2013 with a company called New American Funding. They did lower my rate but told me that I would have to pay MPI because I refinance was over 80 % LTV. During the refinance process, my loan officer - - - ( employee of New American Funding ), told me my MPI would be for 92 months or until my LTV got to 80 %. I have requested my mortgage company to order an appraisal because I believe my house value is high enough to cover the loan at 80 %. When I did this, they told my I had to have the PMI for 11 years ( 132 months ) and that there was no way around... |
New American Funding Mortgage loan servicing, payments, escrow account December 3, 2015 - I live in a condominium. My mortgage provider ( New American Mortgage ) requires proof of HOA insurance. The mortgage provider sent a letter ( via post ) that stated that since they did not have this proof, they were going to purchase the insurance and charge me for it. My complaints are:1. The notice was sent by post, not email ( even though I have signed up for all contacts via email ). 2. There was nothing in the letter that indicated there was any grace period ( it was dated the day after the prior policy expired ). When I complained to the mortgage company, they told me that they had to m... |
New American Funding Mortgage loan servicing, payments, escrow account September 17, 2015 - We refinanced through the HARP program into a 30-year fixed rate mortgage. After a history of paying our mortgage in a timely manner, the company decided to accept payment itself rather than have another company collect payments. When claims of late payment came starting in -, I called and supplied proof that all payments due were made in a timely manner, and received. Nevertheless, they continued to harass us with late payment notices and fees. We allowed them to do automatic deduction from our account to make future payments trouble free while we clarify the history. Though we made the -... |
New American Funding Mortgage loan servicing, payments, escrow account August 10, 2015 - This is now the - complain I am having to file in an attempt to collect escrow monies from this Company. Our house burned down -/-/14 an insurance settlement was issued to myself and my husband and as we had a loan on the property the funds were forwarded to our mortgage company to be held in escrow for repairs. The house was completed the end of -. We refinanced the house to another mortgage company on - and the loan at new american funding was paid off -. We still hand funds in the escrow account and I spent over an hour trying to get them to send me a check. I was told tha... |
New American Funding Mortgage loan servicing, payments, escrow account August 2, 2015 - This sadly is the second time I am having to file a complaint to try to get insurance settlement money that is in escrow with this New American Funding sent to me. Our house burned down -/-/2014 and New American Funding has been managing the insurance settlement funds as I had a loan against the house that burned down. We had problems getting them to disperse these funds before and I was given a direct contact who was supposed to assist us with all future disbursements named - but when I called to speak to him he was no longer with the company and I was told anyone could help me. I asked ... |
New American Funding Mortgage loan servicing, payments, escrow account June 26, 2015 - After I enrolled in automatic debit for monthly payment, New American Funding debited - payments for the - payment from my checking account, once on - - and the - on - -. The loan payments were not overdue and there is other legal basis for taking the - payment. They applied the - payment to - even though I repeatedly asked for the money back. I did not authorize the taking of any extra money, just the payment due for - month at a time. They refused to explain why the extra payment was taken and refused to put it back into my account the same way they withdrew ... |
New American Funding Mortgage loan servicing, payments, escrow account May 18, 2015 - On - - our house -, in - the insurance company settled with us an sent a check for the settlement with both my name and the mortgage company. I endorsed the check and send it to the New American Funding and they deposited the funds into an escrow account. My outstanding mortgage was - and the settlement was for more than that amount so they sent me the difference to use as I pleased. I then asked for a dispersment for the demolition of the house, had an inspection and received -. The balance in escrow was now about -. The loans then sold to New American Funding ( confusing... |
New American Funding Mortgage loan servicing, payments, escrow account April 22, 2015 - I posted dated a check and mailed it for -/-/-/-/2015 for my mortgage payment as my mortgage company will only take online payments if all the late charges are paid at once ( also illegal ), and the check was cashed on -/-/-/-/2015 which cost me over $70.00 in over draft fees with my bank. - - - needs to be investigated. ... |
New American Funding Mortgage loan servicing, payments, escrow account April 7, 2015 - On or about -/-/- I closed on a refinance of my home with New American Funding Inc. My - payment was due -/-/- and I have made all my payments on time. Today -/-/- I was contacted by a Mortgage Company concerning lowering my VA Loan through a VA Interest Rate Reduction Refinance Loan ( IRRRL. During the initial process I was informed that the current servicing mortgage company was not reporting my loan with the credit bureau 's and this was hindering me from getting the lowest interest rate available. He state I am only a couple of points shy and not reporting the loan was pr... |
New American Funding Mortgage loan servicing, payments, escrow account March 30, 2015 - I have a loan with New American Funding with a first payment due on - - 2015 and payable by no later than - -, 2015 to avoid a late fee charge. I checked with the company to be sure that I could submit advance checks for the mortgage amount to be credited each month and NOT TO BE CHARGED AS A LUMP SUM PAYMENT REDUCING THE PRINCIPAL. I was told I could do this and was given instructions on how to ensure the transactions occurred as I wanted. On - -, I mailed - individual checks for each month : -, -, -, -, -, - with a memo on each check for the appropriate... |