New American Funding Mortgage Complaint

Other mortgage Settlement process and costs

New American Funding Mortgage department,

Other mortgage Settlement process and costs Texas

We were the seller of a house located in - - T-. The loan company, New American Funding Inc., for the buyer of the home delayed the closing 3 times, -/-/16, -/-/16 and -/-/16 finally closing on -/-/16 without a valid contract and not providing an addendum to close the sale on -/-/16. The Lender received the appraisal 5 days before closing and failed to notify the broker or seller that the appraiser had noted a safety issue that needed to be addressed before he would sign off on the appraisal until - - - the day before closing. This left no time to correct the issue and delayed the closing until -/-/16. We were not provided any addendum with a new closing date and left to hang in the balance from - until -/-/16. This also resulted into the payoff being higher and late fees since they failed to meet there obligations. We understand the mortgage company has a responsibility to the buyer, but proper notification and addendum is still required to be presented to the Seller. The mortgage company assured us they would close before - day and then relayed via a text that they would be closed for - day and it would not close until after the holiday. Total disregard for the seller, unethical and unprofessional behavior given to the seller!

New American Funding customer in Texas
Sep 13, 2016

* Source: CFPB Complaint Database

New American Funding response to complaint:
Closed with explanation

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