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Old 10-20-2011, 02:11 AM
 
Location: Victoria Woods, CA
464 posts, read 833,021 times
Reputation: 256

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Looking for a good mortgage lender. Has anyone heard of New American?
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Old 10-20-2011, 05:28 AM
 
Location: MID ATLANTIC
8,678 posts, read 22,936,434 times
Reputation: 10517
Never heard of them, but that doesn't necessary mean anything. It appears they are relying on some big names to get them in the door and that's not unusual.......the key is, do they have the personnel to get your loan thru........

Here is where experience matters........ask the loan officer,

How long have you been in the business?
Where do you get most of your business?
What's your policy if rates decline once I've locked in?
What is your lock policy? How many days? Fees to lock?
What are your fees (not the title fees, not the taxes, not points)?
How long is it taking for loan approval?
Does my loan need to go outside of the company for underwriting?
Is my loan closed by you or the investor?

And, I recommend you ask in email so that you get your answers in writing.
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Old 10-20-2011, 01:00 PM
 
Location: Victoria Woods, CA
464 posts, read 833,021 times
Reputation: 256
Thumbs up Thanks for the tips...

...SmartMoney. Have you heard of AmericanInterbank, Nationwide Direct, or New American Funding and if so, your thoughts please...

We are a little familiar with AimLoan.com but any bads/goods you know about that company too that come to mind?
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Old 10-21-2011, 09:45 PM
 
Location: MID ATLANTIC
8,678 posts, read 22,936,434 times
Reputation: 10517
I have not heard of any of them. I really recommend you get a persson reference for anyone you use - ask your friends and neighbors, ask your agent.
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