Ace Your New American Funding Interview: The Top Questions You Need to Prepare For

Interviewing at New American Funding? You’ve come to the right place. In this comprehensive guide, I’ll walk you through the most common and critical interview questions you’re likely to encounter for a role at this top mortgage lender.

With insightful tips, sample responses, and insider knowledge, you’ll gain the confidence and skills needed to showcase your qualifications and land the job.

Overview of New American Funding

But first, let’s get to know more about New American Funding and what they look for in candidates:

• Founded in 2003 in Tustin, California
• A leading direct-to-consumer mortgage lender in the U.S.
• Known for excellent customer service, speed, and innovative loan products
• Employs over 5,000 mortgage professionals across 900 branches nationwide
• Ranked a Top Workplace by The Orange County Register
• Certified as a Great Place to Work®

When hiring, New American Funding seeks candidates who:

• Have passion for the mortgage industry
• Demonstrate strong work ethic and personal accountability
• Are natural relationship builders with excellent communication skills
• Are comfortable interacting with diverse clients and teams
• Have high emotional intelligence and problem-solving abilities
• Are motivated to help clients achieve their homeownership dreams

Aligning your responses with these values and showcasing relevant experiences will give you a competitive edge.

Now let’s get into the interview questions

Common New American Funding Interview Questions

Here are the most frequently asked questions across various roles at New American Funding:

1. Why do you want to work at New American Funding?

This is your chance to express genuine interest and passion for the company. Research New American Funding’s mission and values beforehand and explain how they align with your own.

Highlight any experiences, skills or interests that make you an excellent culture fit. Convey your desire to be part of a company making a positive impact through home lending.

Sample Response: “I’m excited to work for a values-driven company like New American Funding that prioritizes employee empowerment while maintaining excellent customer service. Your innovative loan products and streamlined processes are directly improving clients’ lives through homeownership. I’m passionate about connecting customers with the best mortgage solutions for their unique financial situations. With my background in customer service and my commitment to developing trusted relationships, I’m confident I can contribute to New American Funding’s mission of providing an exceptional lending experience.”

2. What do you know about New American Funding and our mortgage products and services?

This question tests your research skills and understanding of the company’s offerings. Thorough preparation is key here.

Provide an overview of New American Funding’s areas of expertise, such as FHA loans, renovation loans, jumbo loans and home equity loans. Highlight any specialized products or services that interest you. Demonstrate you’ve done your homework.

Sample Response: “From my research, I’m impressed by New American Funding’s diverse array of mortgage products catered to unique borrower needs. For instance, your renovation loans allow financing of home improvement projects alongside a mortgage. Your Self-Employed loan program provides flexible qualifying options for self-employed borrowers with non-traditional income sources. And your Down Payment Assistance program helps credit-challenged borrowers in achieving homeownership. I’m particularly interested in your Doctor Loan program for medical residents, as it demonstrates your commitment to serving diverse communities. Overall, New American Funding’s customized lending solutions, focus on speed, and exceptional customer service distinguish you as a leader in mortgage lending.”

3. Why are you interested in this role at New American Funding?

Convey why you are specifically passionate about the responsibilities of the role you are interviewing for. Connect your skills, interests and values to the day-to-day requirements of the position.

If applying for a customer-facing role, focus on your people skills and desire to help clients. For operations roles, highlight your organizational abilities. For technical roles, emphasize your relevant expertise. Align yourself with the role.

Sample Response: “As a Loan Officer, I would leverage my passion for connecting with people and my mortgage expertise to provide clients with an exceptional lending experience. Helping buyers navigate the home financing process to achieve their dreams of homeownership inspires me. I’m energized by building trusted advisor relationships, uncovering customer needs, and guiding them to the optimal lending solutions. With my background in financial analysis and my proven ability to explain complex mortgage information simply, I’m prepared to make a positive impact as a Loan Officer at New American Funding.”

4. How would you handle an unhappy customer?

Loan Officers and other customer-facing roles should expect this question. It assesses your conflict management skills and emotional intelligence.

Demonstrate empathy, active listening, and problem-solving techniques. Highlight that customer satisfaction is your top priority. Provide an example of successfully calming an angry customer and reaching a resolution. Position yourself as an advocate who will take ownership of the issue.

Sample Response: “When handling an unhappy customer, I first listen with empathy and patience, without getting defensive. I’d apologize sincerely for any inconvenience and assure the customer I will get to the bottom of the issue. I would ask probing questions to understand fully their specific concerns and the outcome they are seeking. With this context, I can outline logical next steps for investigating the problem and provide frequent status updates to the customer. My focus is on achieving a win-win solution, even if that means escalating to a manager when necessary. For example, a client was upset over a delayed closing date on their mortgage. By actively communicating with our operations team, I got it expedited and sent the client gift cards for their inconvenience. This turned a negative experience into a positive one and a lifelong loyal customer.”

5. How would you contribute to our company culture?

Culture fitness is critical at New American Funding, so expect this question. Reflect on their stated values and mission. Provide examples of how you already embody their desired culture. Highlight any hobbies, volunteering work or activities outside the office that demonstrate your commitment to continuous learning, serving others, or building relationships. Convey authentic enthusiasm for being part of the team.

Sample Response: “New American Funding’s culture of collaboration, transparency, and commitment to diversity resonates with me deeply. As a team player with strong relationship-building skills, I enjoy working in an environment of trust and open communication. I’m actively involved in mentoring programs that create upward mobility for underserved groups. I also love participating in hackathons which fuel the innovative thinking that leads to new solutions. With my positive mindset and natural curiosity, I’m excited to contribute to a culture centered around creativity, inclusion, and professional growth.”

6. Tell me about a time you went above and beyond for a customer.

Expect this behavioral question for any customer-centric role. Pick an example that showcases initiative, persistence and commitment to delivering an amazing customer experience. Describe the situation briefly, the actions you took, and the end result for the customer.

Sample Response: “When handling a mortgage application for a first-time homebuyer, I noticed their income documentation didn’t account for some side freelancing work they did. The loan risked not getting approved. I decided to have an in-depth conversation with the client to learn more about their freelancing income, including invoices and 1099s to back it up. This allowed me to uncover documentation that I presented to underwriting. As a result, they qualified for the loan, and their home purchase dream became reality. The client was astounded by the extra effort I put in to ensure they were represented accurately. And I was proud to have made such a meaningful impact on their life.”

7. Describe your experience with mortgage lending regulations. How do you stay current?

Mortgage regulations like TILA and RESPA change frequently, so this question tests your knowledge and hunger for continuing education. Demonstrate a solid grasp of key regulations and describe how you stay updated, whether through news alerts, training courses, industry events, manager updates etc. Convey your understanding of the importance of compliance.

Sample Response: “I have experience ensuring compliance with critical mortgage regulations including TILA, RESPA, and the Fair Lending Act. I understand the necessity of following these regulations to protect consumers and maintain trust in the mortgage industry. To stay current, I read the CFPB newsletter and take advantage of New American Funding’s compliance training courses. I also have Google alerts set up for my state’s regulatory updates. Being proactive about continuing education is key in this industry as laws frequently change. And I’m committed to maintaining in-depth knowledge, so clients get transparent explanations of the loan process and their rights. I aim to not only follow the law, but truly act in the consumer’s best interest.”

8. How would you describe your work style?

This open-ended question allows you to highlight your working style, values and strengths. Share qualities that align with New American Funding’s culture like collaboration, relationship building, and accountability. Provide examples of using your work style effectively in the past.

Sample Response: *”I have an optimistic, solution-focused work style. I thrive in