Licensing and disclosures
Tom Jarboe, NMLS #210600, is a Regional Sales Manager with New American Funding, LLC, Company NMLS ID #6606. Diamond Bar branch NMLS #2856926. 20955 Pathfinder Road, Suite 200, Diamond Bar, CA 91765. Licensed as a mortgage loan originator in California (DFPI).
New American Funding, LLC (formerly known as Broker Solutions Inc. dba New American Funding), NMLS #6606, Corporate Office is located at 1 MacArthur Place, Suite 800, Santa Ana, CA 92707.
Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act. Loans made or arranged pursuant to a California Financing Law license. For licensing information, visit NMLS Consumer Access and New American Funding's state licensing page.
About reverse mortgages
A reverse mortgage is a loan. Interest and fees are added to the balance over time, and the loan must be repaid when the last borrower dies, sells the home, moves out for good (or is away more than 12 months in a row for illness), or doesn't meet the loan terms.
Reverse Mortgage - Borrower must pay required taxes and insurance. HECM borrowers must be 62 or older. HomeSafe and HomeSafe Second are proprietary (private) products, are not FHA-insured and are not part of the HECM program; in California, HomeSafe is available from age 55.
Most reverse mortgages, including every HECM, are non-recourse: you or your heirs won't owe more than the home's value when the loan is repaid.
Borrowers must live in the home as their main home and keep paying property taxes, homeowners insurance, HOA dues and upkeep, or the loan can come due and the home can go to foreclosure.
A HECM is insured by the Federal Housing Administration (FHA). That insurance protects the lender, not the borrower. This site is not from HUD or FHA and was not approved by HUD, FHA or any government agency. New American Funding is not acting for HUD, FHA or any government agency.
Before any HECM, borrowers (and any non-borrowing spouse or co-owner) meet with an independent HUD-approved counselor. Find one on HUD's site or call (800) 569-4287. In California, a lender can't take a final application or charge a fee until 7 days after counseling.
Not a commitment to lend. All loans are subject to credit approval, verification and underwriting. Program terms and guidelines can change without notice. Nothing on this site is tax, legal or benefits advice; talk with a tax professional, attorney or benefits advisor about your situation.
Customer service
New American Funding makes customer service our number one priority. We encourage you to call our corporate customer service department at 800-450-2010 ext. 7100 between 8 am and 5 pm PST or email us anytime at [email protected] for any complaint resolution you may have regarding the origination of your loan.
If you are using a screen reader or other auxiliary aid and are having problems using this website, please call 800-450-2010 Ext. 7100 for assistance.
Equal Housing Lender.
