New American Funding Mortgage Complaint

New American Funding Mortgage department,

Conventional fixed mortgage Application, originator, mortgage broker Colorado

New American Funding ran a paid advertisement on the radio. The broadcast said that a special refinancing offer was available for people who called during the broadcast. The advertised rate was 3.375 % 30 year loan bought down to 2.375 % for the first year for a refinancing. Also, the ad said that there were - closing costs. They kept emphasizing all of these points. I called during the broadcast and Spoke to - -, one of their lenders who did business in Colorado. We have E-CELLENT credit, and a large escrow in our house. I told him ideally we would like to refinance our first and second loans together and then he asked for all of our confidential information ( where we do banking, our salaries, our social sec numbers, etc ). He said he would get back to me in a few hours. Did n't hear from him. I called the company two days later and they tracked - - down. Yes he had the wrong email for me, but still did n't have the numbers. Then he called back and said he could only get us a 3.875 % loan with us having to bring in $6000.00.


" fine '' forget the cash out. I want the special offer of 3.375 % /2.375 %. He said he would go back and get me another set of numbers. Waited another 2 days. Then he still came back at a much higher rate. Said this was because the special offer was only for loans above $410000.00. Now I 'm really starting to get frustrated. The hidden limitations were not making sense. I told him to refigure the loan again ... the rate he was quoting me was ridiculous and way above market rates. I also asked him for a copy of the loan limitations. Then he said he would get back to me that day. Waited 8 hours .. no reply - next day no reply. He only replies when I cancel the loan refinancing. Either - - is playing games .. or New American Funding .. whom - - - .. is playing games.