David D Cxs

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Newfi refuses to forward my appraisal

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Newfi seems to get good ratings from most people. But I am one of them.

When the company and I could not agree on terms for a refi loan (it would not give me enough money to cover all expenses), Newfi refused to send the results of my appraisal to another lender I contracted with who will cover all costs. Under the terms of the appraisal contract with Newfi, it must give me the results of the appraisal, because I paid for it and legally own the records. But will it respond quickly enough so that I don't have to pay another $650 for a new appraisal?

If it fails to give me the appraisal documents, it will be in breach of contract. I will update this post.

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Loss:
$650
Pros:
  • Dont know
Cons:
  • Do not act in the best interest of customers

Preferred solution: Forward my appraisal to another lender, which will give me the loan

User's recommendation: Use a lender that has the best interests of its customers in mind

Anonymous
map-marker Vancouver, Washington

Bad Business Practices

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I started a refinance cash out for my home in June of 2021 with a gentleman named Jeff. He assured me everything was on the up-and-up and was a go because I needed to put down $670 to do an appraisal on our home. Jeff told me in the very beginning that Before I paid the $670 for the appraisal, everything would be good to go. I would never go back to Newfi Lending. Stay with reputable mortgage lenders. SStay
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User's recommendation: Stay away from these con artists

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