New American Funding Mortgage Complaint

New American Funding Mortgage department,

FHA mortgage Application, originator, mortgage broker Colorado

This is a summary of a complaint I originally submitted with the - in - Tx. New American made several errors during the Streamline refinancing of my mortgage. My wife and I were told that we would receive a refund on our escrow account in the amount of $1600.00. The problem started when we ( my wife and I ) decided to do a Streamline refinance of our mortgage with New American Funding. The New American Fund account rep - -, who originated the original mortgage on our home, was contacted about the new Streamline refinance program in early - 2015. We had learned about this opportunity because we had received numerous mailings from other mortgage companies about the Streamline refinance options. In the mean time ( - 2015 ), New American Funding had moved to a new office in - T- and they wanted all mortgage payments sent to their new address in Texas. Unfortunately, I was unable to stop an auto-pay service at my bank from sending out a mortgage payment to the old New American payment address in - - CA. I contacted New American Customer Service on - -, 2015 and told them about my problem


to the - - payment center. Again, I contacted New American Fund Customer Service and informed them that I had put a stop payment on the check sent to the - - office. I told the customer service rep to make a note in his computer records that the stop payment had been placed on the check. As of - -, 2015 the funds from the original mortgage payment were back in my bank account. I proceeded to issue another check and I had it mailed to the - T- payment center. The funds from this check were out of my checking account by - -, 2015. ( We have until the - of the month before we are assessed a late fee. ) Leading up to the closing of the Streamline Refinance was a very disorganized process. About 3 days before the closing we were finally given the amount of the new mortgage payment, the final closing expenses and the refund amount for the escrow account $1600.00. The email with this information from - 's assistant, -, asked us if we wanted to proceed with this refinance process. We decided to proceed based on the information we received in the email. The closing was scheduled for - -, 2015. So - - I go to my bank and I get a cashier 's check in the amount that - specified in the email. At the closing the Closer tells me that I need a cashier 's check for a greater amount than the amount we agreed upon in the email. This is impossible because it is after - and the bank is closed. After numerous phone calls to - and his office he decides to absorb the difference. At the closing we are told that we should receive our escrow refund $1600.00 in 60 days. We wait the 60 days and we do n't hear any thing from New American Funding and we do n't receive a refund check. Since we were anxiously expecting the refund check, I contact New American Funding and I get several different stories about why they did not send us the refund check we were anxiously expecting. The standard line I got from customer service was they had to do more research and they would contact me at a later time. Nobody from New American Funding would call me back. Finally after many attempts, I did talk to a supervisor, - -. She tells me that some mistakes had occurred in the processing of our Streamline Refinance loan. This has been a very disappointing and trying experience for my family. We based our decision to proceed with the Streamline Refinancing based on the amounts that were indicated in the email.