New Timing Chain Set Loose?
Lots of possibilities...
Quality Control ain't what it use to be so a bad chain is a very real possibility...
If the engine had been rebuilt I'd be looking at the possibility the distance between the crank centerline & the cam centerline was below spec & I'd be looking at an undersize chain...
The fact you say the original chain is tighter than the new chain points strongly to a problem with the new chain...
One other thing you might be shocked at how much slop in the chain is allowable and considered within spec....
The service manual suggests using a ruler and measure how much travel a single pin of the chain moves at the top center of the cam sprocket when using a wrench to rock the cam back & forth without moving the crank.... The allowable spec is 3/16".... This photo I found from Autozone shows 1/8" but the OE manual shows 3/16"... N
ot saying I want that much on an engine I'm building... Just that that is the spec...