Consumer complaint received 2026-03-09 00:00:00
Product: Mortgage — Manufactured home loan
Issue: Applying for a mortgage or refinancing an existing mortgage — Delays in the application process
Company: BROKER SOLUTIONS, INC.
State: CA

Complaint narrative:
I applied for a refinance with New American Funding on XX/XX/XXXX. From the beginning of the process, I had difficulty getting any meaningful response regarding my refinance application. Before the appraisal was even completed, I repeatedly had to chase the lender for updates and answers. The email record shows that I initiated at least ten separate follow-ups between XX/XX/XXXX and XX/XX/XXXX just to obtain responses or status updates regarding my refinance application. These included follow-up emails on XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX. On XX/XX/XXXX, I specifically documented that I called at a scheduled time, no one answered, and I left another voicemail. On XX/XX/XXXX, I documented that I had asked about refinancing about a week earlier and still had not heard back. On XX/XX/XXXX, I documented that I had not received an update in about three weeks. I even had to request a different loan officer, and they were also inadequate in responding. After the appraisal was delivered on or about XX/XX/XXXX, I encountered a second round of delay and nonresponsiveness. I then began trying to obtain a second opinion, reconsideration of value, or escalation to someone who could address the appraisal issues. The email record shows at least seven more borrower-initiated follow-ups after the appraisal, including XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX. During that period, I repeatedly asked New American Funding to address the defective appraisal, allow a second appraisal or reappraisal, respond to the reconsideration materials, or escalate the issue to management. I was forced to keep chasing the company for months for basic responses. This pattern matters because the delay was not limited to the appraisal dispute. The communication problems existed from the start of the refinance process and then continued after the appraisal, causing the loan to stall for nearly six months. As a result, I lost my locked interest rate, paid approximately {$650.00} for an appraisal that I believe was materially flawed and which the company has not responded to my requests to escalate to a manager for second appraisal, and now have to begin the process again with another lender. Why the Appraisal Was Inadequate The appraisal was inadequate because it appears to contain inconsistent condition ratings, unsupported adjustments, and an unreliable comparable sales analysis. The subject property is a XXXX manufactured home, yet the appraisal used the same Excellent condition rating for the subject and for an approximately XXXX comparable, suggesting the condition analysis was not applied consistently. The appraisal also failed to account for the subjects wooded view, used unsupported location adjustments, and applied questionable adjustments for items such as outbuildings and a wood stove. These concerns were specifically raised in the reconsideration request. In addition, the appraisal listed the propertys replacement cost at approximately {$200000.00}, when the actual replacement cost is approximately {$330000.00} ( per the contractor that installed the home ), a very substantial discrepancy. While replacement cost is not the same as market value, that gap further supports concern that the appraisal did not accurately reflect the property. The value of the property the home sits on was {$170000.00}, so that coupled with the replacement cost far exceeds the {$400000.00} appraisal. I later obtained information from another appraiser identifying comparable sales in the {$480000.00} to {$500000.00} range, far above the {$400000.00} appraised value, which further supports that the original appraisal did not reflect market conditions accurately. The large gap between the appraisal and later comparable data raises serious concerns about the credibility of the value conclusion.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation