| 02/15/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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My circumstance is not something would be similar with the majority of the population, and I have not contacted the company first, because I feel this is somewhat of a predatory action that does spill over to the majority, especially in the presence of such a buying frenzy period like we are seeing today where the companies/people are more concerned about running people through the funnel than actually listening to their situation offering sound information and advice.
I am XXXX XXXX, I already knew my I would never qualify for any mortgage based on my tax return information - different story why that is for XXXX on back, and from XXXX forward they will be more to my advantage. So I was doing research for alternative programs for people like me, and I found information about Non QM lending. I contacted one company from the article I read, who told me straight up they had temporarily suspended their Non QM program due to both Covid and this buying frenzy.
Then I found another article that referred me to the XXXX XXXX where I was able to put my lending offer in front of several supposed Non QM lenders - with an absolute minimal amount of info about my situation I might add on the presentation form.
Of course I received a number of emails, phone calls, and texts from this submission. The call I answered was from XXXX XXXX of American Financing - the company XXXX XXXX advertises for.
***Side Note : Two days later when I was clearing out all the voice and text messages about this from my phone, there were literally about 8 contacts from other Am Fin agents, and I even ended up taking calls from two of them who had no idea I was already working with another agent from the same company as their system was still hosting my open search request for them to see as, not yet contacted - Quite annoying, to the point my thinking about canceling all together with XXXX .
I did not cancel because, After I had very clearly explained to her everything I was wanting to accomplish, the details about my financial picture which outlined very clearly the need for the use of some form of alternative program/product to get this done, and, after denying her initial request to run my credit until she went to her higher ups to find out if this was something they could actually do, given all this information I provided, from which she came back assuring me they could, I had already approved her to go ahead and run my credit report.
Once I gave her that go ahead, I also threw in the incentive of refinancing my current primary residence and very probably getting a twofer out of this connection - Which I was serious about, IF we could get the primary subject property of my initial reach out done.
So here 's what happened.
1 ) She comes back shooting straight out the barrel with what she can do on the Primary Res, not the Primary Subject. I stop her to remind her the purpose of the connection, to which she says they can't do it, because there is no loan " in my name '' to refinance.
***Side Note : This was Very Cleary explained to her from the onset in what I was wanting to accomplish.
2 ) She goes back to her " manger/ or Superior of some sort '' - I forget the term she used - and comes back saying great news they figured out that they can actually do what I was looking to accomplish 3 ) She sends me the start up package, which won't work.
***Side Note : So far all this has already taken darn near weeks just to get here.
4 ) She gets me on the phone to run through this sign up paperwork, and when we get to page like 3 or 4, here is the authorization to review my tax returns! Obviously this is a HUGE Red Flag to which I stop and question as once again, this was all clearly laid out from the very beginning that my tax returns alone will kill any chance of me getting financing.
Side Note : So at this point I'm thinking they are not even trying to put me into a Non QM, or Stated Income program/product, and did they every have any intention of doing so from the beginning!
5 ) Again the process Stops Cold, on a Thursday early afternoon with the now infamous " let me go talk to my, whatever term she was using, manager '' 6 ) The following Tuesday I receive an email from Am Fin with a " Statement of Credit Denial, Termination or Change '' Stating " We regret that we are unable to approve your application '' 7 ) I call XXXX to ask if this is the final word on the whole enchilada or if this is maybe from one of the incorrect attempts to get this through and we are still moving forward,,,, I explained that I wanted to know so I could go elsewhere before my credit pull grace period on multiple reporting expires - because honestly I have not found the truth on that yet and have heard XXXX 15 days and 60 days - - And Crickets!!
No Call back that entire week, and I left maybe 3 messages. Leaving messages again come Monday through Wed and again No call back, Not even a chicken XXXX email to explain whether or not this is the final word - Which by now, obviously it is!
So they leave me hanging for another full week+ dragging this entire process out now to 3+ weeks - So if the grace period is only 15 days, 21 days, or even 30 days they have completely blown me up on that!
So my complaint is this : 1 ) Didn't hear a word I said about my situation from the beginning 2 ) Hornswaggled me into approving them to pull my credit report 3 ) Seemingly never even attempted to put me into the type fo product I knew and informed them that was needed, right from the start.
4 ) The Biggest factor - NO Response whatsoever to my query about the termination email form I received, thereby leaving to flail in the wind and waste precious time from moving on to another possibility 5 ) I have not even Mentioned this yet - I called XXXX to request that Am Fin send me everything they have worked up, and my credit report so I can use that information with the next person I am now working with - And AGAIN Crickets!!
Special Note : As a XXXX XXXX XXXX - that is my business - I am not your averagely uneducated about real estate matters Average American, nor am I Complainer - I do not ever make formal complaints, unless someone really goes over the edge, which is very rare for me.
I am lodging this complaint for the following reasons : 1 ) I want my documentation ASAP from this company so I can move on 2 ) If AM Fin is in general, pushing unqualified people into their funnel just so they can run their credit, you need to know about this.
3 ) Something needs to be done - especially in todays hyper entrepreneurial environment - to give self employed people a better opportunity to get financing on housing for personal use.
***Side Note : There are several ways I can get around this where no one is either going to check or care so long as the payments arrive every month, but I am a person who likes to do things the right way.
4 ) So when the system is so jacked up that a person who's business brings XXXX and takes XXXX personally from that business in both wages and disbursements, and shows evidence if their wages doubling for the upcoming year to equal XXXX, not even counting any disbursements, can't get financed on measly XXXX loan on house valued at XXXX, I feel you guys need do something to alleviate this environment for the future entrepreneurs of this country.
5 ) Maybe the standards for the Mortgage lending industry to do a better job of qualifying non W2/self employed applicants in order to be able to put them into the proper products, without making their overall plight even more difficult by wastefully pulling credit in an attempt to do something else needs some attention *** Special Closing Note : I do not blame XXXX XXXX for anything other than not listening in the first place, and her failure to respond to my query 's in the termination of this application and request for my information.
As for AM Fin I do blame them for anything specific, unless XXXX attempts to gain clarity from her superior are what ultimately lead to their failure in producing what they said they could do, and thereby initiating an unwarranted credit pull - which I would then consider a serious issue!
I do not blame Dodd-Frank regulations for it's attempts to protect the uneducated American consumer, but I do blame this legislation for it's failure to recognize a difference between them and educated self employed people - ***I completely realize there are many uneducated entrepreneurs when it comes to real estate matters too, so all this can be a little tricky, but one simple tell tale sign is simple - Real estate educated people cali themselves as Real Estate Professionals on their taxes.
My Complaint is mostly about the mortgage lending industry as a whole and it's attempts to create cookie cutter protection solutions which end up excluding as many as they help. Cookie cutters are fine, just create more than one!
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| 03/27/2020 |
Yes |
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Web |
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I did a refinance with American Financing back in XX/XX/2019 and later found out they did not issue a LE for the refinance. They called and emailed me repeatedly to see if I wanted to refinance AGAIN! I told them several times I was not interested in refinancing again because of a mistake they made. I did let them know I would contact them when I was ready to refinance again. They didn't listen and continued to call and harass me. I've copied and pasted the emails below : From : XXXX XXXX Sent : Wednesday, XX/XX/2019 XXXX XXXX To : XXXX XXXX Subject : Re : American Financing, Recent Refinance, Urgent It's a Loan Estimate. When your rate is locked you are required to receive an updated loan estimate stating that the rate was locked within three business days but that did not go out in time.
On Wed, XX/XX/2019 at XXXX XXXX XXXX XXXX wrote : What is a lock LE?
XXXX From : XXXX XXXX Sent : Wednesday, XX/XX/2019 XXXX XXXX To : XXXX XXXX Subject : Re : American Financing, Recent Refinance, Urgent Good morning Ms. XXXX, congratulations on your new home! It was an internal compliance error, your locked LE was not disclosed so our investors won't purchase your file. Rates have improved dramatically since your last refinance, I would love to run a couple of loan scenarios for you to see how we can not only get your loan refinanced and purchased but save you some money. All I need to get the process started is your permission to pull credit and then I can get back to you with accurate figures. Thank you so much for reaching out to me, I hope that you have a great day!
On Wed, XX/XX/2019 at XXXX XXXX XXXX XXXX wrote : Morning XXXX, I'm pretty much done with my home buying and wanted to follow up with you regarding my refinance. It's been a while and I've forgotten what happen with my current loan and what needs to be correct?
Thank you XXXX XXXX XXXX From : XXXX XXXX Sent : Tuesday, XX/XX/2019 XXXX XXXX To : XXXX XXXX Subject : Re : American Financing, Recent Refinance, Urgent Good morning Ms. XXXX! I hope you are doing well. I just wanted to touch base and see if you were ready to move forward with your refinance yet? Rates have improved a bit since we last spoke, i'd like to see if we can lower you rate and your monthly payment. Please give me a call or email be back at your convenience! Thank you!
On Wed, XX/XX/2019 at XXXX XXXX XXXX XXXX wrote : Hi XXXX, good afternoon ! Just checking in with you to see if you've put any more thought into refinancing yet?
On Wed, XX/XX/2019 at XXXX XXXX XXXX XXXX wrote : We can go conventional with a midscore of XXXX On Wed, XX/XX/2019 at XXXX XXXX XXXX XXXX wrote : No, I'm working on a new build and I believe I need to go convention for my current resident. My credit score is currently XXXX. The lender is currently working on my pre-qual now.
XXXX From : XXXX XXXX Sent : Wednesday, XX/XX/2019 XXXX XXXX To : XXXX XXXX Subject : Re : American Financing, Recent Refinance, Urgent Good morning XXXX, so good to hear from you! You could go conventional depending on what your credit scores look like. Rates have also decreased since we last spoke, are you finished with the purchase of the other property?
On Tue, XX/XX/2019 at XXXX XXXX XXXX XXXX wrote : Hello XXXX , Can we do the refinance as a conventional loan? If so what interest rate would I be looking at? Would I still be eligible for the 4 % interest rate? Would I be able to remove the PMI?
XXXX From : XXXX XXXX Sent : Monday, XX/XX/2019 XXXX XXXX To : XXXX Subject : American Financing, Recent Refinance, Urgent Good morning Ms. XXXX, my name is XXXX XXXX and I am the Business Development Manager for American Financing Corporation. First, I'd like to thank you for choosing AFC for your most recent refinance, we truly appreciate your business! Second, your file came across my desk because it is currently unsaleable to the investor. As your Mortgage Consultant may have told you, American Financing is a correspondent lender, meaning that we do not retain the servicing on your loan but rather we sell it to one of our many investors for servicing. When your loan package was delivered to the investor it was discovered during an audit that there was an issue with the disclosures. Due to this issue we need to get your loan refinanced as soon as possible and of course to your advantage as this was an internal error. Based on rates today we can refinance your loan into a rate and term lowering your rate by -.125 ; covering all closing costs. This will also be a quick close, we will only need a few items from you and we should be able to close within 2 weeks. Please give me a call at your earliest convenience so that we can discuss this further and get your new loan application started. Thank you!
-- XXXX XXXX BUSINESS AND PRODUCT DEVELOPMENT MANAGER I NMLS XXXX O : XXXX | M : XXXX | F : XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX, CO XXXX XXXX | XXXX American Financing Corporate, NMLS XXXX. Visit XXXX XXXX XXXX for licensing information.
Confidentiality notice : This email is from American Financing Corporation. The email and any attachments are confidential and may contain privileged information, and are intended for the named addressee ( s ) only. If you have received this message in error, please notify us and remove it from your system.
-- XXXX XXXX BUSINESS AND PRODUCT DEVELOPMENT MANAGER I NMLS XXXX O : XXXX | M : XXXX | F : XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX, CO XXXX XXXX | XXXX American Financing Corporate, NMLS XXXX. Visit XXXX XXXX XXXX for licensing information.
Confidentiality notice : This email is from American Financing Corporation. The email and any attachments are confidential and may contain privileged information, and are intended for the named addressee ( s ) only. If you have received this message in error, please notify us and remove it from your system.
-- XXXX XXXX BUSINESS AND PRODUCT DEVELOPMENT MANAGER I NMLS XXXX O : XXXX | M : XXXX | F : XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX, CO XXXX XXXX | XXXX American Financing Corporate, NMLS XXXX. Visit hXXXX XXXX XXXX for licensing information.
Confidentiality notice : This email is from American Financing Corporation. The email and any attachments are confidential and may contain privileged information, and are intended for the named addressee ( s ) only. If you have received this message in error, please notify us and remove it from your system.
-- XXXX XXXX BUSINESS DEVELOPMENT MANAGER I NMLS XXXX O : XXXX | M : XXXX | F : XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX, CO XXXX XXXX | XXXX American Financing Corporate, NMLS XXXX. Visit XXXX XXXX XXXX for licensing information.
Confidentiality notice : This email is from American Financing Corporation. The email and any attachments are confidential and may contain privileged information, and are intended for the named addressee ( s ) only. If you have received this message in error, please notify us and remove it from your system.
-- XXXX XXXX BUSINESS DEVELOPMENT MANAGER I NMLS XXXX O : XXXX | M : XXXX | F : XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX, CO XXXX XXXX | XXXX XXXX XXXX XXXX, XXXX XXXX. Visit XXXX XXXX XXXX for licensing information.
Confidentiality notice : This email is from American Financing Corporation. The email and any attachments are confidential and may contain privileged information, and are intended for the named addressee ( s ) only. If you have received this message in error, please notify us and remove it from your system.
-- XXXX XXXX BUSINESS DEVELOPMENT MANAGER I NMLS XXXX O : XXXX | M : XXXX | F : XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX, CO XXXX XXXX | XXXX American Financing Corporate, NMLS XXXX. Visit XXXX XXXX XXXX for licensing information.
Confidentiality notice : This email is from American Financing Corporation. The email and any attachments are confidential and may contain privileged information, and are intended for the named addressee ( s ) only. If you have received this message in error, please notify us and remove it from your system.
-- XXXX XXXX BUSINESS DEVELOPMENT MANAGER I NMLS XXXX O : XXXX | M : XXXX | F : XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX, CO XXXX XXXX | XXXX American Financing Corporate, NMLS XXXX. Visit XXXX XXXX XXXX for licensing information.
Confidentiality notice : This email is from American Financing Corporation. The email and any attachments are confidential and may contain privileged information, and are intended for the named addressee ( s ) only. If you have received this message in error, please notify us and remove it from your system.
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| 10/10/2020 |
No |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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Between XX/XX/2020 and XX/XX/2020, I tried to refinance my first mortgage with XXXX XXXX, XXXX XXXX XXXX XXXX # XXXX, XXXX, CO XXXX. My property is located in XXXX California.
I have provided to American Financing all the information requested from me, and was very clear that I was applying for refinancing, not for purchasing a new property. To my surprise, American Financing sent me a Loan Estimate and disclosure documents for my signature, which were incorrect. For example : a/ American Financing insisted on charging me a transfer tax fee, even though I was trying to refinance an existing loan ( and I was clear that nobody would be added to/removed from the title ) ; b/ American Financing disclosure documents did not contain all required California-specific paperwork, e.g. I was not given the so-called California Domestic Partnership Addendum to Uniform Residential Loan Application ( some mortgage lenders refer to the document as a " Statement of Interest '' ) ; etc.
In addition, American Financing refused to lock-in the rate, even though I have provided all the information they wanted from me, e.g. permission to check my credit records and scores with all three Credit Reporting Bureaus, Social Security Number, date of birth, employment information, personal financial information, etc. The explanation I received was that my rate was as good as locked, because American Financing would not change the initial rate in ninety-something per cent of the applications. When I advised American Financing that verbal assurances are not as nearly reliable as documented ones, I was told that American Financing would only locks rates after my application receives underwriters ' approval. Having in mind that it takes time to obtain such an approval, and that the market changes daily, I believe that American Financing practice to lock the rates so late in the process hurts all of it customers.
The worst part, though, was that I was pressured both, by the loan officer I was working with, and later - by his manager, to sign the incorrect documents. I tried to explain several times ( verbally and by e-mails ) to both of them that I wanted to sign correct documents. Unfortunately, my requests were always met with pushes to sign the incorrect paperwork and explanations to the effect that either American Financing 's system was set up that way, or that at the time of closing the loan everything would be fine ( for information only, all of the mistakes were to my disadvantage, and one can not help, but ask him/herself - if American Financing plans to correct the mistakes, why don't they start by fixing the documents ). I even advised the loan officer and his manager that it is a federal crime to provide false information on a loan application, but to no avail. The loan officer eventually referred me to his manager, but all I got from the manager was condescending attitude ( he kept repeating that he had been working with mortgage loans for 20+ years, so he knew what he was doing ) and that American Financing and he were processing all applications by the book.
Since I am a law-abiding citizen, who does not want to commit a federal crime, I advised the American Financing 's manager, XXXX XXXX that I was forced to cease my application with his company due to American Financing 's illegal practice of coercing me into signing false documents. In addition, I asked the manager to retract American Financing 's credit inquiry about my record and scores. He refused, stating I had given American Financing permission to conduct the inquiry. I tried to explain that when I had given my permission I was not aware that American Financing would pressure me to do illegal things. Unfortunately, all I received was a denial and another doze of condescending lecturing how great the manager and his company were.
In view of all of the above, I kindly ask the Consumer Financial Protection Bureau : a/ To investigate the illegal activities of American Financing to coerce customers into signing incorrect paperwork.
b/ To take whatever corrective measures the Bureau may deem necessary, if any, to stop the practice.
c/ To help me convince American Financing to retract its credit inquiry with the three Credit Bureaus , because when I gave my permission about the inquiry I had no indications I would be asked to do illegal things.
d/ To verify whether American Financing staff in XXXX , Colorado , have necessary knowledge and documents to process mortgage loans for properties in California . In addition, please check also American Financing 's mortgage loan processing computer system, because one of the arguments, when pushing me to sign false paperwork, was that American Financing system was set up in a certain way.
Thank you.
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| 03/10/2019 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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In XX/XX/2019 we contacted American Finance looking to refinance two duplex properties. The banker told us there was no problem and that the value would easily allow us to refinance. He encouraged us to move ahead with both duplex 's instead of one which meant two separate appraisals. I ask if we could get a discount on the appraisals because the duplex 's are identical and on the same street but was told that two appraisals were required. When the appraisals came back they were only a few thousand dollars more than when we built the properties ten years ago. We were shocked and told that our only recourse was to submit a reconsideration for the appraisal. One of the big frustrations we had was that the comparable used by the appraiser were over three years old and the duplex 's were over 40 years old and ours is only ten years old. I repeatedly told that banker that these were not comparable and that I would not pay for these appraisals. He told me to submit the reconsideration. We submitted it with new comparable properties of a duplex that was newer that appraised for much more money and also requested that since duplex comparables were obviously difficult to come by that they consider single dwelling properties of the same size and year built considering that our duplex 's were built to townhouse standards and the city of XXXX, ID had allowed us to have zero property lines if we ever chose to sell them separately. The banker told me that the chances of the appraiser reconsidering were very low but we didn't know what else to do. We submitted the form with comparables that were provided by a realtor and the appraiser would not even consider changing the appraisals. I got a call from the banker telling me that the appraiser would not reconsider, he called while I was at the hospital with a grandson that had been life flighted with a XXXX XXXX, I shared this with the banker who continued to try to sell us on paying for the two appraisals and then going with a new company and paying for another appraisal with a new appraisor. I told him it would have to wait. He called a few times and left messages but my grandson was in critical condition and I could not deal with the mortgage application. I did tell him repeatedly that I would not pay for the appraisals as they were useless and unfair considering that the market in our area had increased dramatically over the last few years and there was no way the properties were only worth a few thousand more than we paid for them 10 years ago and the realtors also verified that the appraisal was bunk. He called again and left a message and when I returned the call he pressured me telling me he needed an answer immediately. I told him this was no longer a worry as we needed to focus on family and he said he would close the application. Within minutes I received two invoices for the appraisals. This is the first time we have not dealt with a local finance company for mortgages and it was a huge disappointment. I feel like we were pressured into two seperate applications and two appraisals and that the company did nothing to mitigate the issues with the useless appraisal. I withdrew the application and as far as I am concerned American Finance owns the appraisals and I am not intending to pay for them considering they are completely useless. I will be dealing with my local lendor. As a final note, the banker was very nice to work with but did enforce alot of pressure throughout the process. This is the last time we will ever go outside of a local lendor for a mortgage.
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| 08/17/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Application, originator, mortgage broker
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Web |
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went on the internet to search for home refi for convention to an FHA loan. Found American Financing Corporation, XXXX CO, and it said it was an FHA place I could find the information and financing I was seeking. Ended up with XXXX XXXX who tried to ramrod us into a XXXX loan. It was not explained they could not offer a XXXX which we needed looking for an FHA product. Head games looking for answers on when told not to pull a hard hit on my husband 's credit. My husband said " not at this time '' and her answer was " to late '' she had the report. Then the head games trying to cover herself with XXXX us on speaker phone saying my husband was lying. She tanked us on being able to find a lender to suit our needs and it was a head game with her saying my husband gave her card blanche when it was never given. We needed to see if we could raise our XXXX scores for better rates as we had just a hard hit about a week prior and unable to obtain financing with another lender. We never would have been able to get our house through a XXXX appraisal and lost another appraisal fee. No written, nor verbal, approval was given to pull any credit report and we received the paper, for legal written approval, 4 days after the " to late '' conversation so she could cover herself. We, me nor my husband, will not sign making this ok and I just will keep my present mortgage. There are many more issues involved in this that can not be brought forward in this description. It is heart breaking trying to refinance and unable to do so when the appraisals, XXXX scores, and any other issues they ( other previous lenders ) can find wrong we can not resolve and the process is tanked from the beginning. We were looking for information and got ramrodded ( for lack of a better term atm ) into either signing up for something we do n't feel is right and not getting what we need, then having someone manipulating us into a product we will never get. We needed a lender, broker, or business we could WORK WITH BEFORE we got pushed and hurried up to sign paperwork that could burry us in a situation that could force us to lose our home if pushed into a closing. This whole situation is insane. I have XXXX character remaining and know we will not find what we are looking for with this business and have to wait out the hard hits and start this over with another lender when the time is available to do so. It was a constant case of being contradicted trying to find answers and a follow up phone call with someone who was trying to side step to cover her as* what is in the paperwork we, mainly all my husband 's information, trying to take me off the mortgage note and saying my husband gave no information about his wife of XXXX years to write the loan. Then she tried to say it was my husband only asking for XXXX on top of the loan and my husband knew we needed much more to resolve things we had lacked maintenance on, and would like to make other changes to the structure & property since we bought the home in 2001 - not to mention other liens on the property my husband can not explain. There is in no way he could or would have authorized moving into a transaction without his wife. His name was given for initial contact because there was only one space to put one name for initial contact and his name is 1st on the current mortgage XXXX XXXX ) for a joint transaction we are seeking. At present time we hold a loan application and all the document necessary to proceed for a loan product but unable atm to attach it to this complaint.
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| 09/10/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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In the beginning of XXXX I applied to refinance my home mortgage through American Financing and was assigned a loan officer. He was very courteous, informative, and responsive to the questions that I had about the loan and submitting any relevant information. As time went on and I submitted any missing pieces to the application, I was assigned an additional helper by American Financing to answer questions. 100 % of the time he forwarded my questions back to the original loan officer because he stated himself he was not qualified to answer them.
This further delayed any responses that I was getting regarding the loan. After numerous voicemails and e-mails to the original loan officer with more questions I had, I was finally able to make contact with him ( weeks later ) because I asked the receptionist to be assigned another loan officer. He then begrudgingly reported to me that my debt to income ration was too high and that he would need another current paystub from me in order to proceed. ( First of all, why not just give me a call instead of keeping me in limbo for weeks, and return my voicemails/emails? It seriously takes 2-5 minutes out of the day to answer someone and explain what is going on ). I also mentioned that I was willing to have a cosigner support me through the application if necessary. Next, instead of waiting for my most current paystub ( which was a much higher amount than the previous ) and considering the possibility of a cosigner, I received a rejection letter by email with no message or rationale attached. Just a flat denial on a pdf sheet.
Although speculative, this cold response felt somehow like a sleight to me for asking to be assigned another loan officer? I seriously just wanted answers and to talk to someone consistently about the application because time was going on for days without a response. He even told me that the acceptance/denial was in his hands, so I don't understand why he was unwilling to have a conversation about my financial situation and the factors involved. I even submitted a message from my current employer regarding the stability of my job in spite of the pandemic.
Not only was this whole process confusing and non communicative, I was also at one point told by the helper that I was pre-approved and that we were going to continue with the application process. The loan officer later told me that he is new, made a mistake, and was looking at the wrong account.
It felt pretty awful to go from communicating with a very normal, professional person to then being treated like a nobody as they apparently started to realize that my credentials might be too tight for them to consider.
And if the guy was just busy.. just tell me that! All I needed was a bit of decency in communication regarding what was going on, instead of blatantly ignoring my emails and phone calls.
It feels snaky to have my credit report pulled ( to its detriment ) and then just bail on the process with no further explanation as to why we were unable to refinance or considering other alternatives.
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| 02/09/2022 |
No |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I applied for a cash-out refinance on a triplex in North Dakota with American Financing in XXXX of XXXX. On XX/XX/XXXX I received an email from American Financing advising that my credit report was showing that my primary residence was in forbearance, which it was, and I confirmed that it was with the mortgage consultant, XXXX XXXX. He confirmed over the phone that the forbearance on my primary home would not be an issue, and on XX/XX/XXXX, I received a Pre-Approval letter from American Financing. On XX/XX/XXXX, I received a conditional approval letter from American Financing. The property appraisal was scheduled and conducted on XX/XX/XXXX. The appraisal came in low, and on XX/XX/XXXX, XXXX provided me with additional loan options that would serve my purposes. Between XX/XX/XXXX and XX/XX/XXXX I followed up with XXXX and XXXXmerican Financing for status updates. On XX/XX/XXXX, XXXX called me to advise me that my primary residence was in forbearance, and therefore they could not write this loan. I advised him that this fact had been known since at least XX/XX/XXXX, and asked him why this is just now becoming an issue. He responded by saying that since American Financing, with full prior knowledge of the forbearance, had issued the pre-approval and conditional approval, he did not think that it was an issue.
On XX/XX/XXXX I received a denial letter from American Financing with the reason for denial being " We do not grant credit to any applicant on the terms and conditions you have requested. '' and " Other : loan program not available ''. It seems clear that American Financing in their denial is attempting to avoid responsibility for their mistake. I was told by American Financing that the sole reason for the denial was the forbearance on my primary home, but they are trying to avoid saying that because they had full knowledge of that fact throughout the entirety of the underwriting process. They also provided me with several loan options and offers, which makes their denial patently false and a blatant lie.
I was also required by American Financing to move the title of the triplex out of my LLC and into my personal name which has caused me to incur unnecessary costs as well as expose myself personally to potential liability. Additionally, their mistake has caused me to waste 5 months working on this loan, when I could have spent that time working on another solution.
Due to all of this, I would like to see whether under FRCA American Financing can be held to their offer to extend credit based on their full and complete knowledge of my credit profile and the forbearance on my primary residence prior to denying my application based on said forbearance. If not, I am seeking recompense for the extraordinary time and effort that I have wasted on them, and the expense incurred having to redo title work that I was required by them to do under the loan. Please advise on any recourse that I may have against American Financing.
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| 03/24/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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Six weeks ago ( beginning of XX/XX/2021 ), we contacted several lenders to get refinance offers. We received four of them with identical interest rate quotes. Three of the four had closing costs and monthly payments that were very close to each other as well. However, we wanted to support the local lender, even though their closing costs were not the lowest, so we went with American Financing.
Both my wifes and my credit scores are over XXXX. My income is more than adequate to cover the loan. Loan to value for the home would be about 65 %. When American Financing requested documents, we always provided them within 24 hours of the request. In short, everything appeared to be going well until a week ago.
A loan processor contacted me two weeks ago and let me know we would be closing on the loan this week ( XX/XX/2021 ). Late last week, I got a call from a loan consultant, letting me know that, since we applied for the loan and they supplied the loan estimate and closing cost worksheet, interest rates had risen, and they could no longer offer us the loan at the rate they quoted us. They wanted to charge me XXXX of a point higher than what they had quoted.
When speaking with most of the lenders the very first time, they specifically asked us if we wanted to lock our rate at what they were quoting us. We always said yes. This has been standard procedure for all of the six mortgages Ive had in my life over the last 30+ years, and the rates were always locked, regardless of what happened to market interest rates. Im now being told by American Financing that, because of COVID, they stopped locking rates until the loan was approved by underwriting.
It was no secret that rates were increasing when we applied for the loan. Thats the whole point in locking the rate. But instead of honoring the rate that they quoted us the quote that convinced us to go with American Financing theyve now decided that their bottom line is more important. Sure, rates went up during the five weeks it took them to approve the loan. But that delay had NOTHING to do with us ; as I said, we always provided what they requested within 24 hours.
Heres the bottom line : American Financing saw that rates were rising, and they didnt want to get stuck with a loan at a lower rate. So they took their time through the underwriting process until the rates were closer to what they wanted to charge. Then they ignored the rate they quoted us so that they could make more money, regardless of the effect it had on me, the borrower. So while Im waiting more time than other lenders had promised ( some as little as 2-4 weeks ) again, thinking, Its okay ; Im supporting local business American Financing is taking their time so they can raise my rate and not honor the document on which I made my decision. So it looks like we may have to start all over again, and we likely wont get the same rate we would have if we had gone with another lender to start with.
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| 09/21/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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AmericanFinancing.net : XXXX XXXX XXXX XXXXXXXX.
I was told I would qualify for a loan based on XXXX income and not total income. this was in XX/XX/2022. After several steps it was changed that I would have to present fourth financial information despite the XXXX XXXX being acceptable for approval. the rate had been secured and locked in. I believe they then began to slow the process greatly in order to have the rate lock expire after having me spend hundreds of hours compiling documents and changing conditions. Over XXXX months later they have not extended the lock despite providing all documentation request very quickly. Their communication was extremely slow I believe on purpose. i escalated this numerous times with the lender. I have text communication from some employees within the company stating their practices are not being properly followed. I can only interpret this as an attempt to delay to raise my rate away from the agreed upon rate. Ultimately, I received a closing statement without any notice and not notifying that my rate had been significantly increased and allocating some of the proceeds to pay down credit cards never before discussed. It appeared they were hoping I would not notice the large increase in order to lock me in. Now after XXXX months interest rates have increased drastically and I have lost my opportunity to secure a lower rate, being damaged by hundreds of thousands of dollars over the course of a XXXX year mortgage. For some background on folks that my be seeing this publicly. This was a refinance of an existing XXXX expired XXXX XXXX. My financial situation has improved since the original finance which was a healthy financial situation at the time. I was contributing cash to purchase discounts to the rate. I would not have started working with this group had I not been assured my financials were more than enough to get the loan processed. when additional financial information was required it showed additional income over XXXX times what was originally needed. I don't believe they ever intended to honor the rate, just bury borrowers in paperwork and exhaust their time to then tell them they are out of time and a higher rate is the best they can do. Additionally at XXXX point they told me information I had supplied was " rejected by the underwriter '', when I pressed for evidence of the rejection and a reason why, they recanted and said that meant they just could not " find '' the information I provided and needed it again. All information was uploaded into a portal they have so their is no reason they could not find it, they again just appeared to have no interest in getting the loan processed. Beware, you will be months into a process and they will change your rate.
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| 02/10/2022 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Servicemember |
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On or about XXXX XX/XX/2022 I had inquired about a new primary home VA loan with American Financing, XXXX XXXX. As our family situation had changed, we were looking into mortgage lender options based on rates and closing costs. Between XXXX XXXX I had spoken with XXXX XXXX XXXX Mortgage Consultant, that I would be going with another company because they could not pre-approve me at a reasonable amount, afterwards a sr. loan processor, XXXX XXXX XXXX XXXX and said they would like to still be considered and if I could send them an approved loan contract they would see what they could do to earn my business. On XXXX XX/XX/2022 I emailed an accepted home offer to the aforementioned American Finance employees as I am a man of my word and wanted to give equal opportunity to compete for my business. On XXXX XX/XX/2022 I received an email indicating an XXXX had been assigned by American Finance, I immediately responding back in the negative that I did not order nor do I accept such action on my behalf. I subsequently called XXXX XXXX who then assured me that no such order had been placed and that it was simply an automated mail system and it meant nothing so not to worry. On XXXX XX/XX/2022, after reviewing their offer for loan terms I had emailed XXXX XXXX and XXXX XXXX, letting them know I would go with another lender as the rates and closing costs we had discussed on the phone were much different then what was presented on paper.
On or about XXXX XXXX I was notified by my lending consultant at my chosen lender that he could not order an appraisal because American Finance had ordered a XXXX Case number and appraisal and they could not go to underwriting until the case number was released. Between XXXX XX/XX/2022 and XXXX XX/XX/2022 several calls and emails have taken place to get the case released to no avail. As of XXXX XX/XX/2022 XXXX, I have been told that " upper management '' was working on it and they had no additional information. When I requested options for recourse or reporting complaints, I was told that they weren't sure who I could file a complaint with.
I had never signed an " intent to proceed '' with American Financing, I had allowed them to compete along with XXXX other lenders and provided them the same documentation I did others for pre-approval. American Financing deceptively initiated a XXXX sided loan agreement that was reported to XXXX, tying up my benefit case number and preventing the lender I did selecting from completing the requested loan arrangement in a timely manner. Their actions jeopardized my families well-being, have caused stress and anguish, and bring discredit upon the industry where transparency and communication is key to financial and economic wellness.
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| 12/04/2015 |
No |
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- Credit decision / Underwriting
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Web |
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My ex-landlord, XXXX is also an ex work peer and she is refusing to respond to a request for a VOR so that I can close on my mortgage. In spite of the fact that I never paid her late, she has threatened to report negatively and is purposely delaying completion of the VOR due to the fact that I refused to allow her to break our 6 month lease. She requested many times to break the lease and tried to intimidate, threaten and bully me over my refusal to break it. She is now jeopardizing the successful close of my transaction and my earnest money, appraisal fees, hoa condo doc fees, inspection fees, I have had to move my things into storage and find temporary housing all due to my refusal to let her break the 6 month lease because her boyfriend was constantly breaking up with her. I have proof that I paid her on time every month any time from the XXXX through the XXXX and she is also accusing me of never having paid on time. I need immediate assistance and am also having to retain an attorney now which is an additional expense. It is my understanding that in all real estate dealings, she should be operating in good faith as I have and can not threaten, harass, intimidate or retaliate against a tenant in any manner. On XXXX XXXX, my move out date, she also sent her fiancee to the rental to try to intimidate me. I have text messages from her that confirm my claims and apparently her previous tenant, XXXX XXXX was subjected to the same behavior. The lease was only from XXXX XXXX through XXXX XXXX and she asked me to move out no less than 4 times and I can prove at least XXXX of those times through texts and that I did actually attempt to accommodate her demand although I was not required to. The XXXX demand was on XXXX XXXX ; just over a month into the lease. She is definitely vindictively retaliating against me for not moving out per her demands. She had no cause to remove me and has never posted an eviction or claimed in writing or otherwise that she did not get her rent or I assure you, as desperate as she was to move back in, she would have filed an eviction notice. I desperately need assistance and I need to to provide an honest, accurate rental verification so that I can close. Thank you for your assistance. Please contact me at XXXX or XXXXXXXXXXXX or XXXXXXXXXXXX. XXXX XXXX is employed at American Financing LLC and her phone number is XXXX, work phone is XXXX.
Please provide a portal access, fax or email address so that I can provide proof. Thank you.
Thank you for your assistance. XXXX XXXX XXXX
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| 12/17/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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I called American Finance to do a refinance on my current loan. Everything is great until they flat out lie to you. I am not an expert so I trusted them. I was promised by XXXX XXXX XXXX XXXX XXXX | XXXX XXXX in writing that I would skip two payments after refinancing. They didn't mention that if THEY process the paperwork after the XXXX of the month that it would only be XXXX month skipped payment. I sent all the paperwork as asked and was positive I would skip two payments This is the exact email : They'll fund the payoff to your current lenders accounts ( CHFA ) one business day after closing - and should be zeroed out. Keep an eye out for the escrow refund check in the mail about XXXX after. Those envelopes are not always labeled from the bank, but will be the amount of your current escrow held.
You'll skip XXXX and XXXX payment - new loan will start in XXXX. If you did make XXXX payment will be refunded with the escrow..
I will be at my desk if any questions during the process. Welcome to call me if you need during -- and of course for any follow up questions on funding and new servicer.
Thank you, XXXX XXXX this email I was also contacted on " a RECORDED LINE '' where this was specified that I would skip XXXX and XXXX Payments. Since I had made my XXXX payment I was expecting it to be refunded in escrow AS PER THEIR OWN WORDS!!!!
After calling previous lender I was informed that I would not get that money back because American finance had filed after the XXXX.
When I called to complain everything seemed cordial, they said you are right, we did say that let us try to make this right. After calling back a few days later they said it was passed on to management to see if the " could take a loss since they had said that to me ''. I was told I would be contacted in a few days. 10 days later I called them back and told me their was no malice and there is nothing they can do to get me my money. They where not even going to have the common courtesy of following up as promised if I had not called back.
These people directly lied went back on their word and then would not even follow up If i had not reached out AGAIN. I feel completely swindled by these people. I Trusted them because I had my original loan through them guess that was my mistake. I would not recommend them to anybody, nothing they say can be believed even though its said on " a recorded line ''.
TotaXXXX XXXX and not even the decency to give a client a call back Shameful
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| 07/10/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I applied to refinance my existing mortgage on XX/XX/2020 with American Financing. Before applying to refinance I had an extremely good credit score above 750 so being approved for the refi was not anticipated to be a problem. After working with one of their loan processors to submit all of the requested info from employment history, tax returns, pay stubs, and more, I did not hear from American Financing for 2 weeks. Then after requesting an update via phone I was told that I am now pre-approved and then moved into " conditionally approved '' status. I was told by the loan processor that everything looks good and they should have what they need. My income level, company I'm working for, and pay structure stayed consistent throughout the process. Then, American Financing " disappeared '' from XX/XX/2020 to finally making contact with me again on XX/XX/2020. I left multiple messages during this time period for XXXX, my original loan processor to call me back and update me as I have not heard anything, and my closing date listed on the American Financing portal had come and went, twice. A nice lady named XXXX finally made contact and said she is " taking over '' my loan on XX/XX/XXXX. She requested a few extra documents which I provided quickly, and then, 2 days before scheduled closing on XX/XX/2020 I received a call from a different American Financing employee named XXXX saying I was no longer approved because " the way I am paid changed ''. Again, nothing had changed throughout this entire process. I am a truck driver that is paid by miles and stops, with XXXX miles guaranteed weekly by my company. That was consistent from application to " conditional approval '' to denial. Yet they alleged that my pay structure changed and used that as a reason for the denial, after " losing '' my file for 1.5 months. This company hit my credit, was irresponsible with my information, led me to believe there were no problems, disappeared for 1.5 months, then told me I was denied my refinance 2 days before scheduled closing. They were unprofessional and seemingly reckless with my information. I made some personal financial decisions based on the conditional approval and after being led to believe there were " no issues '' with my refi. Would never recommend anyone do business with this company.
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| 06/08/2021 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Servicemember |
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I rarely write negative reviews. Truth be told I rarely write any reviews. The horrible experience I have had with this company must be documented. Late in XXXX of 2021 we contacted American Financing to refinance my home and take out a modest amount to complete a couple of projects on the house. We chose this company due to a positive experience with them in the past. Both my wife and I have excellent credit. My income is more than adequate to cover the loan, and the loan to value for the home would be about 60 %. We completed the pre application questionnaire by phone, explaining that we wanted a VA cash out refinance loan. The first loan papers we saw a couple of weeks later were for a conventional loan. When we pointed this out, the loan officer tried to talk us out of taking a VA loan. This began a long period of continual disregard from our loan officer, and delays from American Financing. The rates increased and we were not able to get the lower VA rate we originally tried for. We finally locked in at a rate .3 % higher than when we began the process. When American Financing requested documents, we always provided them within 24 hours of the request, however they do not acknowledge them. We have had to resend several documents, usually by pulling them from their dashboard and forwarding them back to the loan officer. About three months into the process a new set of papers were sent over for us to sign. These papers had the wrong person listed as the veteran. We were told to sign them as presented and they would be fixed on the back end. For the last 6 weeks we have been getting a weekly " progress '' call from someone in the office, saying things like, the loan is on track, they are lighting a fire under the managers to get it going, any day now, and other platitudes, but no actual progress. In the mean time all work quotes I have for the projects I need done have expired, the cost of materials is skyrocketing, and my loan has been in limbo for close to six months. I need American Financing Corporation to do the job I am paying them for and close this loan. In reviewing XXXX and other consumer forums, this is a pattern of behavior they have been engaging in that is detrimental to their customers. They do not move forward on these loans unless a complaint is filed.
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| 12/14/2017 |
Yes |
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Web |
Servicemember |
|
I was turned down for a refi by XXXX XXXX a XXXX XXXX XXXX at XXXX XXXX XXXX in the beginning of XXXX. XXXX told me to keep my credit score up and in XXXX of XXXX I should call her and she would get the refi starting again because that is when I would have 12 months of on time payments. I called XXXX on XX/XX/XXXX and reminded her she said I would be good in XXXX to get the refi with cash out. I send in all the paperwork she requested and had a home inspection on XXXX XXXX. I spent money and time fixing all the items and issue the inspector brought up. I called XXXX onXX/XX/XXXXecause I hadnt heard from her and to find out when the inspector will do the final inspection since I did all the work. She called and left a message while I was at work on XXXX XXXX, I called her back within 15 minutes, but didnt hear from her again until XXXX XXXX when she told me I was denied.
I always had to call and email multiple times to get a response from XXXX. I was very upset that the refi wasnt going through since XXXX had told me not to pay my XXXX mortgage. She said she told me to hold it, but she didnt ever tell me that nor act like the loan wouldnt get approved. I called her boss, XXXX XXXX on XXXX XXXX and asked him to pull the call to verify that XXXX told me not to make the payment and never mentioned to hold it in case. He said they didnt record their calls, but I told him every time I called, the message said the calls were recorded, and he said we dont record all of them. I asked him to be compensated {$1100.00} so I could make my mortgage payment on time. He said he would put the request in, but the most that has ever been paid was {$100.00}.
On XXXX XXXX, XXXX boss XXXX called me and apologized and offered my {$100.00} for the problems with my refi and said he would be taking XXXX bonus for her error on this refi. I asked for him to give it to me then since she cost me to be late on my current mortgage. He said I cant do that.
On XXXX XXXX I received an email from XXXX XXXX saying she would have the check cut for me on Friday XXXX XXXX. She later called and said no one was there to cut the check and I didnt end up getting it until XXXX XXXX. I think that paying me {$100.00} and taking XXXX future bonus shows wrong doing on their part and should be compensated.
|
| 01/23/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Improper use of your report
- Reporting company used your report improperly
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Web |
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I called American Financing on XX/XX/XXXX to inquire about their bank statement loan program as I am XXXX XXXX. I spoke with a customer service rep named XXXX XXXX who answered a few of my questions, but was told that I needed to speak with the loan officer for some additional questions to be answered. Towards the end of the phone call XXXX told me that I would be receiving a call from a loan officer the following day to fill out an application so that we could review my credit and standing. He then asked for mine and my wife 's SSN 's which I gave even though had doubts about needing that before filling an application. I spoke with another loan officer with a different company and he was able to tell me market rates on bank statement loans without me filling an application. I decided rates would be too high for an investment property so I gave American Financing a call back and spoke with XXXX XXXX. He started telling me about information on my credit report and when I asked how he knew this information he told me that they pulled my credit. Never once did XXXX ask for my authorization to pull credit and he specifically told me I would be filling out an app over the phone which I never did. I contacted XXXX and they told me that American Financing needs to show documentation that this was an error in order to be resolved.
On the same day I filed a complaint with the XXXX XXXX XXXX I received a message from American Financing. They posted a fake written transcript of the call stating that I allowed them to pull credit. When I asked for an actual recording of the call to verify what they had written was true, I never received another message.
I called them again on XX/XX/XXXX and asked to speak with XXXX the manager I first spoke with and still have yet to receive a response from him or the company.
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| 09/07/2021 |
Yes |
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|
|
Web |
Older American, Servicemember |
|
American Financing NMLS # XXXX XXXX XXXX XXXX XXXX. XXXX XXXX XXXX, CO XXXX XXXX XXXX Loan Officer I started out with a credit score of XXXX when I was preapproved by American Finance. XXXX my loan officer told me to take out a new line of credit in order to help me to get a VA Loan. She told me that the VA does not accept loans that the credit is too low. Which I later found out if not true. The VA Loan has no low end limit. It is set by the lender. I am a first time buyer so I thought the lender was giving me good advice. Turns out when I took out the new credit line it tanked my credit. I went from XXXX to XXXX over night. Then XXXX told me that she could not finance my loan because my credit score was too low. SHE was the one who TOLD me to take out the new line of credit. She told me that she had been a loan officer for over 20 years. It appears that I have fallen victim to Predatory Lending. I am a XXXX XXXX and a Veteran I should be treated better than that. Now I can't use my VA Loan to get a home. American Finance acted as a Predatory Lender when XXXX knowingly told me to take out a new line of credit knowing full well I am a first time buyer and that the new line of credit would tank my credit score and then she turned around and denied my a loan that she had already processed for me. I was in escrow then she did all of this. Please help.
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| 05/13/2016 |
Yes |
|
- Application, originator, mortgage broker
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|
Web |
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My husband and I looked at American financial for a fha home loan. During the initial process the numbers they quoted us was not what they presented to get us to sign but they had greatly padded the loan and all number were much higher. We went with another lender and informed American financial. The second problem came when they drug their feet on transfer of the fha case number to our new lender and after all this they emailed us a bill for {$500.00} for the appraisal when we paid for our appraisal with our current lender. We never signed a letter of intent with American financial and yet they billed us anyway. We did not sign anybody the documents they tried to get us to sign. when we complained to them and told them we were not paying them any money they told both my husband and I different stories of what happened saying it was an automatic process that the appraisal fee was generated because it is attached to the the case number but we took our business to another lender and they had no right to bill is for work our lender is doing. We contacted them repeatedly telling them that we never signed a letter of intent and they knew we had chosen another lender. Why are they monitoring our loan with another lender and trying to bill for work our lender is doing and that we have already paid for.?
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| 04/02/2020 |
Yes |
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Web |
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I applied for a loan from American Financing. Everything was going smoothly, and I was confident I was getting the loan. Although it was a FHA loan, and I had to repair certain problems on the house. For example, I repaired a railing on my front porch, and I also had to fill in a large hole in back yard because of pipe repair.. I also had to replace electrical outlets that were near water sources. The loan was signed and dated XX/XX/2019, so I was told that the loan was approved. The only reason I didn't get it sooner was because of work that had to be done on the house.
Finally, everything was complete, and the only thing left was the closing. On XX/XX/2019, I was called by XXXX XXXX, and told that I was not getting the loan. He said the stimulus bill the government passed had changed the investors minds. The reason I didn't qualify was my credit score was too low. The FHA guidelines state that my scores are good enough to satisfy the loan. American financial said my scores had to be at least XXXX. I believe that this company committed fraud. Also, these new guidelines should not apply to me because I already had the loan, and started this process last year. WELL Before the start of the pandemic. I thank you for your time in reading this.
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| 12/18/2018 |
No |
- Mortgage
- Conventional home mortgage
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- Unable to get your credit report or credit score
- Other problem getting your report or credit score
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|
Web |
Servicemember |
|
We financed our thru American Financing in XX/XX/XXXX it has now been 8 months and we still DO NOT SHOW on our CREDIT report that we own a home? AF has lied even though they have been paid on a monthly basis and we are ahead on our mortgage. But they have failed to report our credit status, have lied to us for over 6 months. We have emaled, called trying to remedy their issue with not reporting to credit bureaus. Been told internal error, they selling our loan outside parties, other companies handling, but what it comes down to is that we show NO home loan, no credit history on our loan. Our last communication was XX/XX/XXXX AF is now saying it will not be until XX/XX/XXXX when they can make this issue go away. Last but not lease they indicated to me that I could call the credit bureaus myself to accounts added? What kind of low life says that?
We attempted to purchase & take out loan for new business were denied for we can not show that we own a home, have no stability as home owners. This company has done nothing but damage our credit status.
Amercian Financing is a fraud, after several attempt to resolve this issue we had no choice other than to start filing complaints. We want action immediatley please help.
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| 08/06/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
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Web |
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In early XX/XX/XXXX I applied for a cash out refinance loan through American Financing. On XX/XX/2020 I signed documents on the loan ( the documents had errors, like not having my name correct ). To properly close, the title company XXXX XXXX XXXX needed some additional deeds recorded. The loan was not funded and my existing mortgage remained. The loan processor at American Financing was aware of this and we had almost daily emails about the situation. In a letter dated XX/XX/2020, I received notification that my unfunded loan had been sold to XXXX mortgage company and my first payment was due on XX/XX/2020. Eventually I got deeds prepared at my own expense as the ones I received from XXXX XXXX had errors in them they could not seem to correct them. The loan finally closed on XX/XX/2020 and my existing loan was paid off. However on the new loan, I have been charged interest on the balance of {$180000.00} since XX/XX/2020 despite my not having the money. I never received updated closing documents from the title company either
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| 12/19/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I reached out to American Financing to assist me in getting a loan for a refinance. I gave them all the information that they requested. However, through the entire process, it has been a struggle to get any communication. I have to call multiple times per day and email to get any communication. It is always " I will call you back. '' Calls are not returned. On XX/XX/2019, we set to close. We signed the papers and we were told that the money would be electronically transferred the next day. It has yet to happen and yet again I can't get anyone to answer calls. I talked to someone named XXXX about it and he said he would try to get things sorted out. However, I have not heard anything. I do not know if the money is coming or when. They make false promises.
|
| 12/07/2021 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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Since late XXXX early XXXX I have been attempting to refinance my mortgage. In the beginning of this process I was getting communication from American Financing and then it started getting increasingly hard to get a hold of the loan processor or the underwriter to find out the status of my loan. I have been told XXXX different timelines of when I can close my loan, the last was supposed to be XX/XX/2021. I was also told not to pay my mortgage for XXXX and XXXX however I am getting late notices which is not only showing me that the process isn't started still but this going to affect my credit based on what my loan processor XXXX XXXX told me.
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| 02/16/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
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|
Web |
Older American, Servicemember |
|
We applied for a loan because they were supposed to specialize in loans to Vets. They changed loan products 4 times each time taking us through the process until the end when they said something did not pan out. We had over 150 email. Submitted 100 pieces of documents and many phone calls and texts. I asked that the last time they just submit my loan with the information they had because I am a banker I felt and still do that we qualified. At this time there are too many communications to list. We are requesting that you help facilitate,
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| 09/27/2023 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Problem with a company's investigation into an existing problem
- Was not notified of investigation status or results
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Web |
|
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|
| 08/12/2021 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
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|
Web |
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| 08/11/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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|
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Phone |
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| 06/22/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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|
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Web |
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| 05/08/2021 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
|
| 01/14/2021 |
Yes |
|
- Struggling to pay mortgage
|
|
Web |
Older American |
|
|
| 01/11/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Credit inquiries on your report that you don't recognize
|
|
Web |
|
|
|
| 08/03/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Credit inquiries on your report that you don't recognize
|
|
Web |
|
|
|
| 05/27/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
|
|
|
| 04/08/2020 |
Yes |
- Mortgage
- Other type of mortgage
|
|
|
Web |
|
|
|
| 01/17/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Referral |
|
|
|
| 03/01/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Phone |
|
|
|
| 12/14/2018 |
No |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account information incorrect
|
|
Phone |
Servicemember |
|
|
| 11/07/2018 |
No |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Postal mail |
|
|
|
| 01/23/2015 |
Yes |
|
- Loan modification,collection,foreclosure
|
|
Postal mail |
Older American |
|
|
| 01/22/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Application, originator, mortgage broker
|
|
Referral |
|
|
|
| 11/08/2014 |
No |
|
- Application, originator, mortgage broker
|
|
Web |
Servicemember |
|
|
| 02/04/2014 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Application, originator, mortgage broker
|
|
Web |
|
|
|
| 01/31/2014 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Application, originator, mortgage broker
|
|
Phone |
|
|
|
| 07/12/2012 |
Yes |
- Mortgage
- Reverse mortgage
|
- Application, originator, mortgage broker
|
|
Referral |
|
|
|