New American Funding Promised low rate in writing, then raised it by .625% AFTER promising to lock in lower rate!!!!! Irvine, California

Based on a radio advertisement for a no-cost 2.75% fixed rate 10 year loan, I called New American Funding and talked with a very polite and helpful person who gave me a big laundry list of documents I would need to apply for my loan, but gave me some bad news:  Due to the small size of my loan (under $100,000), he could only offer me a 3.25% loan.  This rate was not what I was hoping for, but still reasonable and I proceeded to submit in excess of 100 pages of documentation to support my credit worthiness (Last time I checked my credit score, it was over 825!).

My loan rep called and emailed me that everything was good to go and that my loan was being locked in at the agreed upon 3.25% and that there would be approximately $1567 in 'Third Party Fees' plus an additional fee of approximately $400 for an appraisal.  Hmmm... Sounded high, but I agreed.

Then, all of a sudden at 4:00 pm on a Friday night, he calls back in a big panic and said that there was some misunderstanding or confusion with their loan guarantors and that the rate had magically changed to 3.875%!!!!!!  That represented THOUSANDS of additional dollars in payments over the life of the loan!

The company has not responded to my requests for canceling my authorization to pay for the appraisal which hasn't happened yet, or for my request to have them destroy all copies of my personal and financial records or to not sell my personal information to any other companies, ore even for the contact information for their President/CEO to file a formal complaint to hem/her.

This company uses DECEIT and LIES to try to sucker you into ridiculously high loan rates AFTER they have obtained your most sensitive personal financial information and then refuse to properly destroy it.  I am deeply concerned that I will have my identity stolen as a result of them gaining access to my information.  

Please do NOT let this happen to you - Stay as far away from these amoral and deceitful people as you possibly can!