New American Funding Bank Account Or Service Complaint

New American Funding Bank account or service department,

Other bank product/service Deposits and withdrawals California

New American Funding, our mortgage lender has been holding a reimbursement check for water damages sustained to our - home. After 32 days of holding our check, ( and collecting interest ) New American Funding continues to change the requirements and the process of releasing our check every time I speak to them. On -/-/- we received a reimbursement check from - - - to cover the costs of water damage to our home in -, CA. The check was issued to my husband and I, AND New American Funding, the mortgage lending bank on our property. I called New American Funding on the same day at -. to ask what was required to process this check. I spoke to - and she informed me : 1. They requested we send the " endorsed '' check to them.


3. They need a " Summary of Loss Statement '' 4. Copies of " Paid In Full '' invoices 5. Include our Loan number and send all documents to their Property Loss Department I compiled this information and sent it out the same day, -/-/- by US Postal Service - Certified Mail. They received the documents and the endorsed check on -/-/-. After returning from - vacation and several phone calls later, I finally reached them on -/-/-. I spoke to -. He said they NOW required an " Updated Adjuster 's Report ''. I became very angry about not explaining this earlier and that they had not responded to me to explain this new requirement. I asked to speak to a supervisor. He said that is not possible. They will request a supervisor to call me. They would not give me a supervisor 's name or phone number. I asked them to call - - to get the required " Updated Adjuster 's Report '' since I was too upset to deal with them any further. In addition to this conversation, on the same day, -/-/-, I sent an email to New American Funding on their website to make sure this information was on record. On -/-/- at - I received a recorded message from - , a supervisor. She explained that NOW they needed the contractor 's information and additional required documents. They would be sending us a " Claim Dockage '' to be completed. We waited for the appropriate documents and never received them. After receiving no documents and no phone call, I called on -/-/-. I spoke to -. She said they still need the " Updated Adjusters Report ''. They NOW need a hold harmless letter from us stating we will not hold New American Funding responsible for liens on our property from contractors. We sent the letter out by certified mail on the same day. I waited to hear from the lender ... still no word. On -/-/- I called New American and spoke to - at -. I asked for the status of releasing the check. He said they still needed the " Updated Adjuster 's Report ''. He would not connect me to a supervisor. He said they have not received the " Letter of Responsibility ''. He said after they have received all the documents, they will do a final inspection. This is the first time this was mentioned. I asked to be placed on the schedule for an inspection as soon as possible so that this issue could be resolved quickly. On -/-/-, after my phone call with -, I called - - -, - -, at -. to explain that New American Funding needs an " Updated Adjuster 's Report ''. She was not available so I left a message to call me. On -/-/-, same day, I got a call from - -, a supervisor at New American Funding at -. She explained to me that New American could release $620.00 of the $20000.00 check. I was informed the scheduler would call me within 24 - 48 hours to set up an inspection. I want New American to act in good faith and release the funds a.s.a.p.