senior loan officer

loan officer

junior loan officer

customer service/sales representative

outbound sales representative

New American Funding

Worse experience in my 20 yr career, these people are inexperienced, inept and don't care. Trained for weeks and did not cover a single helpful thing relevant to my position. They mess up the easiest files and there is zero accountability. The management is non-existent and place is pretty much ran by the management from division to division. I have never seen a company so unconnected. Once you're actually in the office you see it was all just a show put on for you during interview. The company should had remained as a advertiser "Broker Solutions" DBA NAF, PROVIDING TOOLS FOR OTHER REAL MORTGAGE COMPANIES. The inexperienced processors don't process or contact clients they have the LO’s do everything if you want to close a loan in 60 days, 21 days LOL. They try to underwrite but aren't underwriters and tell you what to do, they don't know the basics and mess up every file. The “regional and manager” are mediocre LO’s car salesmen type that don't manage anything. Place is a joke and feel sorry for people that believe the recruiting bs by the branch managers. Realtors if you see an approval letter from this place do yourself a favor and know if the loan closes it wont be on time and the process will be a nightmare for every client regardless of how qualified they are. Awful service with high rates and fees, run from these bafoons. You will save yourself from a nightmare. Everyone is just out for themselves and corporate office is support less and has know clue whats going on from division to division. It is a cut throat company. The leads they provide are garbage aged trigger leads.

I now see why there was such a rush to get my offer signed before I could find a proper company to work for. If they'e trying to hire you go by when you are not expected and you will find empty office unlike when you come in for an interview.

I worked at New American Funding in the HR department for a number of years. I would not recommend this company to other individuals looking to work in HR. The company has been awarded for great culture but the HR department does not follow that same culture. The work/life balance is poor. There is an expectation to be working a lot of overtime and most weekends. Difficult to get time off even sick time. It's very much a burden to ask for time off. If you're exempt like I was there is an expectation you do not take lunches or leave the site for a lunch break. 

There's A LOT of turnover. Many of the managers within the department have personal relationships with the Director. Its a very cut throat unforgiving environment. All employees are very closely micromanaged. Employees roles do not match any job descriptions and duties are taken away or changed with no notice and frequently. Seats and offices are also changed constantly. There is no stability working in any HR position. 

Unfortunately Its a very toxic and unprofessional environment. There's a lot of yelling. The Director has often brought employees in to that office and berated them to the point of tears. There is a lot of favoritism cliques backstabbing and game playing. Ultimately it is important to warn anyone who is considering applying for a HR position here to understand that it is a very stressful intimidating and unhealthy culture to work in. This should be highly taken in to mind when you consider for any HR offer. 

Other than the culture the benefits are extremely expensive and there's no 401k match. The benefits and perks here are not designed with administrative employees in mind. If you want a job here it would be better to look in other departments where you matter and are a treated like an employee and get to take advantage of the culture that is supposed to happen.

The Novi company is a satellite location. Many HQ is in Cali. Technology is the worst which makes you less productive. Most of the companies production comes from outside loan officers. The companies structure is based off of that. You're not allowed to contact processors or underwriting which is very frustrating. They do have alot of great products but the pay isn't worth the reward if you cant be productive with the products. Due to the structure of the company and technology you wont make the money you think you will or what they tell you. The trainer for on boarding is great however after that you will be on your own. They have occasional trainings for new products or refreshers but they dont present any value being at a satellite location and not being given the support they need from corporate. Because of this your managment team will become frustrated because of you not understanding as a LO. For folks coming from other lenders I ENCOURGE YOU TO LOOK AT OTHER COMPANIES AND SHADOW. Have the knowledge to understand how other companies are structured, how tech works, and what the average pay is. BPS paid is lower than other companies for being a retail lender and being paid on fundings. Leads aren't bad but to be productive enough the company needs to work on the tech and process. Dont make the mistake of being naive and overlooking these important things. In my belief this company needs to focus on there outside LOs STRICTLY or restructure there entire management team to provide more value to there in house LOs so there is more structure. Expect to get anywhere from 50 to 100 emails a day for things that dont matter as a LO.

What is the best part of working at the company?
New American Funding has/had a great company culture when I first started working there. A lot of company's say they do, but they don't. NAF DID! It was awesome. But as business slowed when rates increased and whatnot, even a little bit beforehand when they were forecasting, the entire mood changed. You could tell employees were being pushed to work OT but they all just HAD to clock out because we weren't allowed to get OT. It became obvious that they were turning into a "corporate machine" type of company and that was very sad to experience. Managers weren't listening to lower=level employees at all, Managers were triple booking Ops staff for vacations so you'd go days without hearing from your Processor and they didn't have anyone to replace them or help out, even with Underwriters. It was a scattered mess. A few of the Managers would email asking for a task to be done and you'd go to do it but then 45 minutes later the Managers would say, "Oh I took care of it" Like, what? Super poor communication. It just turned out ALLLLL BAD. I really liked this company my first year or so but after that, it just kind of all went downhill. ):

What is the most stressful part about working at the company?
Being micromanaged.
Also, after I left, I heard they changed the pay and the pipeline management/meetings so I'm sure that got really hard to deal with.

What is the work environment and culture like at the company?
Non-existent anymore, they used to have a company culture but now it's all closed-door meetings and rumors and stress. Unfortunately.

As others have stated, recruiters are willing to say anything to get you in the door. It's all smoke. I applied for a remote position made it very specific that was my interest. Then was told hybrid if 31 miles or less from the office.  There is no hybrid. None 0 zip.

The office is like a morgue. You could rent out office space from underneath them and they wouldn't notice. Management is not concerned with anything which is good if you want them out of your business but again really strange. All that culture they talk about is hooplah. They're just trying to be like any of the other big mortgage lenders but its a really bad facade. 

Your day is like this. Walk in, no one greets you, sit at your desk. Take calls. Eat an hour lunch by yourself. Come back, take calls and leave quitely. Everyone keeps to themselves. 

Training is HORRIBLE if you're new to being an LO. This place is only only if you've been in the business a while. It's fine if you've been an LO previously but for someone starting out steer clear you will drown. 

Pay is lower than any other place. 0.35BPS for an inhouse lead 0.5 for an organic lead. There is the salary but any good LO doesn't really need a salary. Recruiters don't know their numbers either. Mentioned 0.5BPS flat + a bonus, not the case. Bonus doesn't really pay out until you're in the 5+ Loans a month. Avg are closing 3 here.  By average I mean 7-9 on top and 1-2 on the bottom. No real in between.

Close 3 a month or more and you're off the naughty list. Less than that and just expect not to be working there in a month or 2.


I couldn't agree more with some of the reviews. The entire 7mos I was there as sr.processor for their outside sales processing,  I asked everyday how they made it on top places to work in all those publications.  Mgmt is horrid. They employ their friends, favor their friends, and have no sense of professionalism and respect.  Like other reviewers said, unless you're in with the cliques, or kiss butts, you will hate life.  And their operation is completely inefficient and frustrating. No one knows what they are doing except act like a boss. Not to mention, UW's and Funders are incredibly rude, hostile and unsupportive. There's no sense of teamwork to close a loan. There's major hostility between ops depts.  Don't let recruiting or processing mgr fool you. There is zero training. You're thrown out there from day one and expected to survive. Every company has their own flow and process so some training is required in my opinion.  You just learn as you go and any mistakes, sales has no mercy. They don't care to be efficient, train and keep good employees but would rather power trip and feed their friends cherry picked loans. Oh and did I mention no parking space so they make you park & shuttle offsite...it's almost comical.  Where I am now, their #1 expectation is respecting each other and being fair. The owner has a reputation for open door policy and respect, vastly different from what I experienced during my short tenure at new american.  I regret wasting my time there. Don't make the same mistake.

This job was a blessing to me and my family I was brought in to work a new department where we were guaranteed to grow within this growing company. I know the mortgage industry isn’t always consistent especially given the last few years however the promise then the let down is what leave me upset. We were told to keep employees safe they were doing a company wide hour reduction to adjust to profits which was great everyone got to keep a job, then only a few days later I received a call starting they were doing a company downsize and I no longer had a job effective immediately. The call abruptly ended  without not much of any explanation or room for me to ask any questions and my access was taken away immediately so I couldn’t even speak with anyone or say goodbye to coworkers. This is such a shock from a company that says they value their employees. I don’t know if I’ll be paid my vacation time I earned or when my check will be received. This was very sickening and unprofessional the way it was handled. I am disgusted how things changed in an instant without any warning. My family lost much needed insurance and I will not struggle to support my family. I understand the economy but making false promises and giving false hopes to employees is very sad. I do not trust in this company. When they say they are growing it is not true otherwise employees wouldn’t be let go after being told they were safe. This company is not promising in job security. 

I really liked this company and the tech team during my first couple of months here, until some poor senior leadership hires changed the environment. Currently, the tech team suffers from weak leadership at the senior level. In my experience, there is a significant disconnect between the company’s stated values and the actions of its senior leaders. Communication often lacks transparency, and decisions are inconsistent or appear to be driven by internal politics.

Many senior leaders are friends from previous workplaces, and this dynamic heavily influences hiring decisions. It’s common to see unqualified or underperforming individuals brought into key roles based on personal relationships rather than skills or experience. This practice contributes to a lack of accountability and weakens overall team effectiveness.

There is a culture of micromanagement and fear, rather than one of collaboration and trust. I personally witnessed unprofessional behavior from senior leaders, including public criticism of team members during meetings, which had a noticeable negative impact on morale.

Career growth and promotions often do not reflect merit or performance. Favoritism and internal politics appear to play a major role in advancement. Team members who raise concerns or suggest improvements may find themselves marginalized or placed under increased pressure.

Rate pricing is terrible even for 750+ score loans. They will unfairly bad mouth you if leave, are laid off or let go so you can't smoothly move on to another company. Direct manager was completely clueless. Tons of protected builder accounts that you don't get credit for or fully paid on. Extremely non supportive. Direct manager believed anybody without proof instead of their own loan officer without even hearing both sides. Extremely non supportive to get loans closed. Underwriters with silly "I don't like this loan" theories to not close loans. Tons of overlays that made no sense. BPS payouts change as soon as you're up and running in the system. No leads provided. Many referral brokered products offered that loan officers don't get paid on. Was constantly told not to originate loans under $150k or down payment assistance programs. Company made technology was always a work in progress. Shared credit report provider account so everyone can see your applicants credit reports and information. Always trying to steal your 700+ score applicants or take over their loans. Owners have no idea how bad things are on the branch level. All guaranteed pay is logged on a ledger that has to be paid back with future commissions-not explained or in writing in the beginning. Complete lack of diversity in regional and upper management positions.

NAF 4 years ago was an amazing workplace with great people, the company cared and celebrated their employees with parties and gifts, along with great benefits and amenities. Over the years it became less and less. The trust of upper management faded, felt less employee support and the fun left. I no longer was excited to come to work, the stress level became a constant high of increasing workload and exceptions to the point were the pay wasn't enough to compensate. PTO was never an issue only that it became expected to work late and extra hours to cover your tasks before taking your PTO. Burn out will happen and will happen fast. I witnessed lots of favoritism and nepotism within the company across different departments that were never addressed, just expected to accept. If you had favor from upper management especially from knowing personally or young pretty privilege, you don't have to be good at your job to succeed. Some management are workaholics and expect the same from you. other members of management has to be have HR  in the meetings at one point due to the unexpected and no so professional things they would say. Overall, its a job that pays well, no experience needed, learned a lot about mortgage and default, and be ready to work hard with little recognition, or positive feed back. 

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