New American Funding never provided me a GFE. Instead of using a proper and legal "Good Faith Estimate" (GFE), they used a Closing Cost Worksheet. This way, they are avoiding the legal constraints and protections a GFE provides. I have absolutely no evidence of a GFE from New American Funding.
The Closing Cost Worksheet (CCW) they provided showed New American Funding would give me a "$3500 dollar Lender Credit" on March 27, 2014. On April 3, 2014, upon closing we saw New American Funding renegged on the $3500 dollar lender credit and instead, slid in over $2600 dollars worth of broker fees. Not only did they NOT give me a $3500 credit, but they added $2600 broker fees which was a $5100 turnaround, which calculates to a classic bait and switch RIP-OFF.
My real estate agent pointed out the obvious rip off to a manager at New American Funding and the manager is stonewalling us. She of course is taking the company line putting it on me that I agreed to the extra charges and lack of Lender Credit. Hogwash.
I double checked with the escrow company and confirmed that there was no signed GFE from New American Funding. I also checked every single e-mail I received from New American Funding. No GFE.
I am a police officer and have many ties with the media. I am going to reach as many people as I can, including my partners which number about 20,000 sworn officers. After I tell every person I know about New American Funding fraudulent ways I am going to talk to an investigative reporter. Last stop, will be a real estate lawyer, who I am sure can find more than 3 clients who have been victimized by New American Funding in Irvine California. I think the only way to stop corrupt companies like New American Funding is to nail them with a class action lawsuit.
If anyone else has been ripped off similarly as me, please let me know.
I called American Funding on a Sunday after listening to Ken Michaels on the radio. I reach a loan processor by the name of Hector Casales, he took some information over the phone and said that everthing look ok, told me waht my score was and said my rate would be 3.37 and house note after re-fi would be $ 1,065.00 but he just need to get my financial information in order to process my loan with the underwriter. I fax and scan over everthing he asked for within a 24 hr period and he said he would call me back.
The next day I waited until 4:30 pm no call from Hector, all calls went to voice mail. I call the operator and she kept stating he was busy and leave a message on his voice mail, I explain to her that if anything is wrong I need to know today. I called a series of 7 times and she kept hanging up the phone, the last called I made a woman got on the phone on the loud speaker and said this is some crazy s*** b****!!!, I said hello and she hung up the phone again.
Ten minutes later Hector call me very abrupt and said you do not qualify for a loan with us, I asked him what was the reason and he said it is not your credit, not your score, but your business profit loss. I asked him why are the employees cursing over the loud speaker on the phone and he said he did not know.
For one thing this is totally unprofessional for a company to repond to customers after receiving very sensitive information from them. I do not trust this company and want all documentation sent back to me, due to the reason I feel I might be a victim of Identity theft if this is going on in the company.
I will contact the FCC about this as well. And the consumer Protection Bureau.
New American Funding Reviews
New American Funding never provided me a GFE. Instead of using a proper and legal "Good Faith Estimate" (GFE), they used a Closing Cost Worksheet. This way, they are avoiding the legal constraints and protections a GFE provides. I have absolutely no evidence of a GFE from New American Funding.
The Closing Cost Worksheet (CCW) they provided showed New American Funding would give me a "$3500 dollar Lender Credit" on March 27, 2014. On April 3, 2014, upon closing we saw New American Funding renegged on the $3500 dollar lender credit and instead, slid in over $2600 dollars worth of broker fees. Not only did they NOT give me a $3500 credit, but they added $2600 broker fees which was a $5100 turnaround, which calculates to a classic bait and switch RIP-OFF.
My real estate agent pointed out the obvious rip off to a manager at New American Funding and the manager is stonewalling us. She of course is taking the company line putting it on me that I agreed to the extra charges and lack of Lender Credit. Hogwash.
I double checked with the escrow company and confirmed that there was no signed GFE from New American Funding. I also checked every single e-mail I received from New American Funding. No GFE.
I am a police officer and have many ties with the media. I am going to reach as many people as I can, including my partners which number about 20,000 sworn officers. After I tell every person I know about New American Funding fraudulent ways I am going to talk to an investigative reporter. Last stop, will be a real estate lawyer, who I am sure can find more than 3 clients who have been victimized by New American Funding in Irvine California. I think the only way to stop corrupt companies like New American Funding is to nail them with a class action lawsuit.
If anyone else has been ripped off similarly as me, please let me know.
I called American Funding on a Sunday after listening to Ken Michaels on the radio. I reach a loan processor by the name of Hector Casales, he took some information over the phone and said that everthing look ok, told me waht my score was and said my rate would be 3.37 and house note after re-fi would be $ 1,065.00 but he just need to get my financial information in order to process my loan with the underwriter. I fax and scan over everthing he asked for within a 24 hr period and he said he would call me back.
The next day I waited until 4:30 pm no call from Hector, all calls went to voice mail. I call the operator and she kept stating he was busy and leave a message on his voice mail, I explain to her that if anything is wrong I need to know today. I called a series of 7 times and she kept hanging up the phone, the last called I made a woman got on the phone on the loud speaker and said this is some crazy s*** b****!!!, I said hello and she hung up the phone again.
Ten minutes later Hector call me very abrupt and said you do not qualify for a loan with us, I asked him what was the reason and he said it is not your credit, not your score, but your business profit loss. I asked him why are the employees cursing over the loud speaker on the phone and he said he did not know.
For one thing this is totally unprofessional for a company to repond to customers after receiving very sensitive information from them. I do not trust this company and want all documentation sent back to me, due to the reason I feel I might be a victim of Identity theft if this is going on in the company.
I will contact the FCC about this as well. And the consumer Protection Bureau.