- Report: #1201400
Complaint Review: New American Funding - Irvine California
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New American Funding
Irvine, California, USA
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New American Funding DID ME WRONG WITH A BAIT AND SWITCH Irvine California
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.
Thanks
1 Updates & Rebuttals
Dennis C.
Walnut Creek,California,
USA
Similar Experience
#2Consumer Comment
Mon, August 17, 2015
I had a similar experience with New American Funding. I would very much like to speak with you about yours, because I'd like to prevent this from happening to others in the future. 415/8577400. thanks.
