American Advisors Group

Dear Madam, Please find the attached response from AAG which was mailed to the Consumer todayA refund will be mailed as soon as it is processedPlease allow at least ten business days for recepit of the refundYour patience is appreciated Please feel free to contact me with any questions Sincerely, [redacted] Complaint Resolution Specialist American Advisors Group 866-949-Ext [redacted]

I was very pleased with my experience although I have not yet requested any draws with the exception of the first disbursement of funds Hopefully, when and if I do, it will be as smooth as the first experience

My husband and I were very happy with American Advisors GroupA positive experiance We definately recommend them

To Whom It May Concern,AAG strives to provide both consumers, as well as our borrowers with the highest level of service and we apologize for any inconvenience that this client may have experiencedWe have reviewed all of the details of this loan and have determined that AAG went above and beyond in making every possible attempt to qualify the clients loanUnfortunately, after many months of fighting through the unique variable associated to the clients situation it was determined that it was simply not possible to make it work.We have attached a more detailed response letter, which was forwarded to the client, as well as shipping details.AAG is grateful for the opportunity to address these concerns

I agree with the other review, we have received so much junk mail it isn't even funnyTo make it short and sour our house was appraised at $and at the end we would be receiving $for our retirementWho can retire on that much money realize they have to make money but this is ridiculousaccording to my calculation they are making about $100,Just a guessI am going to go through another company!

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this proposed action would not resolve my complaint For your reference, details of the offer I reviewed appear below.your response is a load of blah blah blah, instead of saying every one applying for your reverse mortgage is qualified, run a credit report first before you promise things you can't keepAAG is a company that makes the borrower pay for all fees at closingI hope you don't treat other applicants like you treated meYour business is a ripoff that takes advantage of the elderly Regards, [redacted] ***

To whom it may concern:We do apologize for the incorrect address on the letterThe correct address is as follows: [redacted] *** The bottom line issue on this file is that one of the appraisers called out what he believed to be an encroachment The borrower could have resolved this in one of ways: Provide a survey that identifies the exact distance of the fence to the property lineMove the fence to no more than foot from the property line Record an easement The borrower (per the conversation log) was not willing to resolve the issueThe loan was approved and pending conditions of which the appraisal was one of themWe hope this helps bring clarity to the facts associated to your listed concerns and we wish you all the best

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] and have determined that this proposed action would not resolve my complaint For your reference, details of the offer I reviewed appear below Regards, [redacted] Never given a deadline for when repairs had to be made; in fact, there is no correspondence addressing a deadline for this concern while at the same time, applicant was allowed to believe the application process was continuing and was being addressed by AAG personnel And, I repeat, applicant never initiated a termination intent regarding the application; this was initiated by AAG without any indication that there was a problem with the application Also, AAG is ignoring the fact that, although prompted by applicant, the birthdate and age of applicant were incorrect, in two places, in AAG data associated with the applicationFinally, applicant does nt agree with AAG stand re reimbursement of certain expenses associated with this application; also while AAG asserts that it will not be pacing liens on my property, it gives no assurances that any and all business, associated with the application in question and brought into play at AAG's request, also will nit be placing liens n my property

Overall the experience was good save for the following issue: On Friday July e-mailed me to see if I had a survey on the house and propertyI believe we talked on the phone about it after which I looked for oneI found something that I thought may be oneI called her and told her I found something but wasn’t sureShe said to just sent it, which I didI didn’t hear back from her so I assumed everything was fine so I didn’t think any more of itThe following week she sent me an e-mail that I needed a surveyNow if she had looked at what I sent her right away and notified me immediately I would have gotten on the phone right away to find and make arrangements with a survey company to have the property surveyed after I got backNow since that didn’t happen I sent following e-mail on WedJuly 27, “Why wasn't this mentioned that I was going to need one before? I could have researched to see if there one already on file somewhere and/or made arrangements to have one done.” After several e-mails back and forth over the next forty minutes concerning the cost and the like, in my frustration I sent the following e-mail “I just want to say something otherwise it's going to stew inside of me making me more upset later for not saying anythingIt is not necessary to respond because I know it's not going to happenI'm just wanting to get it off my chestI understand any of the delays so far because they were on me, but this one is on you peopleI think you should arrange and pay for the surveyAgain I know it's not going to happen and I am not expecting a response.” Now though being given a credit of five hundred dollars the cost of the survey still cost six hundred and fifty dollarsAs I mentioned in this last e-mail I still feel AAG should foot the whole cost of the survey This whole episode cost considerable time which is going to delay me in getting some of the things I wanted to get done to the house until next year

They did a great job keeping me informed in every step of the process, answered all my questions plus some I didn't think to ask..The time line they projected was spot on

Dear Sir/Madam, A response was mailed to the Consumer today, a copy of which is uploaded on this portalPlease do not hesitate to call or email me with any questionsSincerely, [redacted] American Advisors Group [redacted] Ext [redacted] Dear Ms [redacted] , American Advisors Group (herein AAG) is in receipt of your complaint filed with the Revdex.com on August 19, We appreciate the opportunity to address its concerns, and apologize for the delay in responding in writingIn your complaint you stated the following: “Called to obtain their advertised brochureThe Agent pressured me to give all my personal information, repeatedly asking me if I was ready to purchase a reverse mortgage, unable to answer my questions which I didn't even want to discuss at this phone call, kept having to put me on hold for what I don't know, returned to conversation, more manipulations and pressure to sign up, would not connect me with a manager, on hold again and again, I finally hung upCalled back to see if I could get connected with someone else and receptionist quizzed me and would not connect me to a managerHung upweeks later I received their brochure in the mailThis institution is merely a phone center for reverse mortgages and very impersonal, rude, manipulativeFor seniors inquiring about a very, very important financial option such as a Reverse Mortgage, I would not give this #rated institution the time of dayThis call was made in AprilI filed this complaint later in time because I wanted to be sure my research with other institutions left me with a valid picture of how horrible this company's tactics really areSubsequently I have gone with another Lending Institution, whereby I can deal directly with the Lender and not a mortgage broker.” AAG would like to apologize for the inconvenienceWhen a prospective borrower calls for information, it is AAG's policy for the loan originator, an experienced and licensed professional, to evaluate each person's motivation for obtaining the loanThe best way to do this is to ask questionsSome homeowners are comfortable with this, while others are notThe more information we are able to obtain from the prospective borrower, the more we can learn about what positive financial changes they would like to achieve as a result of a reverse mortgage; and the better prepared to suggest the right reverse mortgage program suited to that person's unique set of needsAAG is are the largest reverse mortgage Lender in the country, and has reached this position by caring for our customers, and treating them with the dignity and respect they deserve, by being driven to provide superior customer service, and being ethical in how we conduct ourselves and our work, every dayI would also like to remind you that AAG is not a broker, but an FHA approved LenderYour feedback is sincerely appreciated, as it assists us as a company to improve our overall business culture of care, empathy and sensitivity for our valuable borrower base- Seniors over the age of 62- who have worked with us to build this company into a great partnership for sound retirement financial optionsWe are sorry we could not work with you to obtain a reverse mortgageWe wish you all the best for the futureWe hope this written response has provided the needed answersPlease do not hesitate to call or email me with any questions- Sincerely, [redacted] American Advisors Group [redacted] Ext [redacted]

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this proposed action would not resolve my complaint For your reference, details of the offer I reviewed appear below your response is a load of blah blah blah, instead of saying every one applying for your reverse mortgage is qualified, run a credit report first before you promise things you can't keep.AAG is a company that makes the borrower pay for all fees at closingI hope you don't treat other applicants like you treated me.Your business is a ripoff that takes advantage of the elderly Regards, [redacted] ***

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this proposed action would not resolve my complaint For your reference, details of the offer I reviewed appear below As stated above, I most definitely do not feel there has been ANY resolution in regard to my complaint against AAG First AAG accuses me of a number of things that are absolutely false, and yet when I proved them wrong regarding their accusations, AAG just continues in another direction and forms additional smoke screens to excuse their lack of professionalism and extremely poor business ethics The fact of the matter is this: AAG misrepresented the facts from the very beginning regarding private wells and septic/leach field distances, as well as the fact that if the well/septic/leach fields did not meet FHA criteria they may need to be "REPLACED" before they would fund the monies to me Again, if they had, I would NEVER have gone forward with this reverse mortgage application to begin with The simple fact is that they MISREPRESENTED THE FACTS AND PRACTICED EXTREMELY POOR BUSINESS ETHICS Then, to cover up their wrong doings, AAG accused me of not wanting to discuss my mother, [redacted] , whom I have Dual Power of Attorney for The fact is, I and only I hold title to subject property, and my mother has Life Time Estate.....and it is I who brought this up to Mr [redacted] *** (the loan officer) on the very first telephone conversation to AAG It is rather sad that AAG does not want to accept responsibility and do the right thing here They could not even respond to the Revdex.com in a timely manner Again, I demand full reimbursement for the money I have had to lay out and which I have received NOTHING in return except ADDITIONAL HARDSHIP AND STRESS FOR MYSELF AS WELL AS MY FAMILY MEMBERS By the way, I actually paid $for the counseling fee, not $ I have copies of several emails, as well as information from my bank regarding the debits that were made for the purpose of the appraisal as well as the counseling fee to Money Management Revdex.com, if you have any further questions or concerns, please feel free to contact me Once again, I am demanding full reimbursement of the money I spent on the appraisal as well as the counseling fee Please be advised, that I tried to attach my emails and seemed to be unable to do that, so I will be forwarding them to you via email If that will not be acceptable, please call me at 1-518-894-and let me know how else I can handle this Thank you Once again, I very much appreciate the time you have to spend on this complaint, and hope that this matter will be resolved very soon Very Truly, [redacted] M [redacted] [redacted] M [redacted] Regards, [redacted] from th

It's was difficult getting upfront estimate of cost Our home required a couple of fairly minor repairs which the held funds from our loan to ensure correction was completedWe have been harassed by phone calls and letters regarding completion of our repairs ever since 2/Our loan closed 1/26/Repairs aren't required to be completed until 10/26/Repairs required much more repair than what was requested by the lender so it is taking time to complete, we have been upfront with their repair department every time they callThe letters have been threatening and the phone calls have been persistentAt this time were considering refinancing again to get out of our contract with American Advisors

Good Morning, Please find a detailed response to the Consumer's rebuttal of our initial response letter AAG is satisfied that it followed all origination and processing guidelines on this loan which was cancelled at the borrower's requestAAG considers this matter closedPlease feel free to call or email me with any questionsSincerely, [redacted] American Advisors Group Complaints Resolution Manager [redacted] Ext [redacted] Dear Ms***, American Advisors Group (herein AAG) is in receipt of your rebuttal to our responseWe appreciate the opportunity to address your concernsIn your communication to the Revdex.com, you stated that you were assured that any amounts you paid for services associated with the loan would come out of your loan proceedsOnce again, AAG would like to apologize for the breakdown in communication regarding your responsibilities as a borrowerThe loan originator explained that any third party services incurred during the processing of your loan would be paid from your loan proceeds if the loan fundedWe also explained that the borrower is solely responsible for any services, inspections or repairs provided by third party contractors, whether or not the loan funds Please refer to the the enclosed copy of the Release, Indemnification and Hold Harmless Agreement you signed on March 24, which explains the borrower's responsibilities regarding third party services and expenses incurred during the loan processDuring the loan process, a critical issue in your foundation was identifiedEvidence of movement within the foundation was identified in the cellar areaThe concrete wall is leaning and, mortar is falling our of the block work, and the pillars are leaningthe interior floor is sloping in some areas and the interior crawlspace piers are dry-stacked and resting on gravel, with no footings presentThere appears to be a significant amount of subsurface water coming in from the hill in front of your home, which is getting trapped near the foundation.this water appears to have caused subsidence in the soil, which, combined with improper footings on piers, has caused many piers to lean and provide inadequate bearing for the flooring system (Page 1-of enclosed Engineering Report)Because all of AAG's loans are FHA insured, we must originate all loans in strict compliance with HUD/FHS guidelinesAs it stands, your property does not minimum HUD eligibility guidelines and would need the repairs recommended in the enclosed engineering report to satisfy those minimum standards At the time your loan was cancelled, it was in an Approved subject to condition statusYou chose to withdraw your application instead, and regrettably, the loan could not fundWe are sorry we could not work with you to fund your loanPlease feel free to reach out to your loan originator if you feel you would like to re-apply for a reverse mortgage after the recommended engineering repairs are completed, or if you would those costs to be paid to the contractor at closingThere is no guarantee that the appraisal amounts will be as high as your previous one due to possible changes in the real estate market and other factorsPlease do not hesitate to call or email me if you have any questionsSincerely, [redacted] American Advisors Group Complaints Resolution Manager [redacted] Ext [redacted]

I would like to amend my complaint with a Desired Resolution as follows: I request that the Agent who manipulated me into giving my personal information and would not agree to send me a brochure without that be disciplined or fired and my personal information at AAG be purged from their system

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this proposed action would not resolve my complaint For your reference, details of the offer I reviewed appear below I agree with AAG reference my credit problems, as I stated in my complaint I told [redacted] ***, loan officer, that the first time I spoke with himAt that point he should have referred me to someone who would check my credit before I ever started the process.But no he had told me that everything would be all right as long as I explained why I had credit problemsNot once but twice he sent me and my realtor a conformation letter that I was qualified and was approved for the reverse mortgage purchaseMy realtor sent copies of the approval to the sellers realtorSo not only me but the sellers believed that all was a go.I had all ready put $down for deposit [redacted] then has me pay for a certificate, $125, that I was required to purchaseSo we are now at $Next I had to have the property inspected, $= $ and last I was required to get an appraisal, that was $which equals $that I lost.Four days before the closing I get a call that AAG needs me to show more incomeWhy is this just now coming upAnd why do I need more income for a loan that does not have any payments.The sellers moved the week before the closing thinking everything was going smoothlyThey also suffered greatly having to put the house back up for sale and continue to make their loan payments.I AM COMPLAINING THAT AAG DOES NOT KNOW WHAT THEY ARE DOING AND HAVE COST ME $2925, WHEN THEY SHOULD HAVE CHECKED MY CREDIT REPORT FIRST THINGIF I HAVE TO GET AN ATTORNEY AND FILE IN SMALL CLAIMS COURT I WILLTHIS IS A TOTAL RIP OFF AND BEING A SENIOR CITIZEN I FEEL I HAVE BEEN TAKEN ADVANTAGE OF Regards, [redacted] ***

Dear Sir/Madam, Please find AAG's response to this complaint as an attachmentAfter conducting thorough research, there is no evidence of unfair treatment or rudeness by the loan originator named in the complaintDespite that, AAG would like to apologize to the Consumer for any inconvenience arising from any negative emotions she may have gone through while her loan was in processSometimes, borrowers can become exasperated when reverse mortgage companies request proof of certain actions-such as the filing of a bankruptcy that potentially wipes out certain debprocessing can move to the next levelWe have reached out to the Consumer and she is working with AAG on critical requirements to move her loan application forward Please do not hesitate to contact me if you have any questions July 25, Mrs [redacted] - [redacted] Court [redacted] , GA [redacted] Dear Ms [redacted] -***, Re: Revdex.com Complaint ID [redacted] Filed on July 21, American Advisors Group (herein AAG) is in receipt of your Revdex.com complaint ID dated July 21, and received in our offices on July 25, 2014.We appreciate the opportunity to address your concerns and apologize for not providing a written response earlier On July 24, 2014, AAG SrComplaint Resolution Specialist [redacted] reached out to youMr [redacted] assured you that he would conduct a fair review of your complaintMr [redacted] reached out to loan Origination Manager [redacted] to provide a statement regarding the allegations Below is his statement: I started working with Mrs [redacted] it looks to be on 6/This loan was transferred to my team and had been originated by a [redacted] ***, that, I guess, was no longer with companyI realized that the file was a case transfer with One Reverse mortgageAt that point I let the client know that in order for us to proceed with her file that she would have to make payment for the appraisal with One ReverseShe was not happy, but never indicated that to be a problem for her to do I explained that if there is an open invoice it needs to be satisfied before they would transfer and although they told her it would be paid in the closing she did not close with them so it was still doableIt took about a month for her to do soDuring that time the setup department let me know that the name on title did not match our borrowerI called the client and asked her about thisShe told me that she had done a name change and I asked for her to fax it to me which she did and furnished the setup department withOn 7/the appraisal got transferred from One Reverse to usNot having originated this loan from the start I did not realize that there were liens against her titleOn 7/I addressed the liens with the client she did share with me that these liens were included in her Bankruptcy at that time I asked her to please fax me all of the bankruptcy paperwork so I can try to sort this out for herI em ailed the setup department on 7/stating that the client was sending me the bankruptcy paperworkI was waiting to receive it from the client when I got this from youI never hung up on the client nor have I ever hung up on a client in my career in the mortgage businessI pride myself on working with clients to help solve their problems and to provide great serviceThere are liens against her title which I was trying to help her clear by getting the bankruptcy paperworkI was never rude in any wayI work to close every loan big or small with the same care and concernI am hoping the call was recorded so you can see that I did not hang up on the clientPlease let me know if you need anything else and if you want me to reach out to the client on this(end of statement) Mr [redacted] reached out to Mrs [redacted] - [redacted] on July 25, 2014, and asked her about the bankruptcy documentsShe stated that when the AAG representative allegedly hung up on her and no one called her back, she did not know what to do nextIt was agreed in this latest conversation that the Consumer would mail the documents to AAG so her loan application could continue to be processed AAG is sorry that the Consumer felt she was treated rudely, and apologizes for any inconvenience that she feels was causedThe Consumer was advised that, moving forward, AAG will work diligently to process her reverse mortgage application, as was the case prior to this complaint being filed We hope this written response has addressed your concernsPlease feel free to contact me anytime if you have any questions Sincerely, [redacted] Senior Loan Resolution Specilaist American Advisors Group 866-948-Ext [redacted] a [redacted] @aag.com

RevDex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below. Regards, [redacted] Dear Sir/Madame: False statements have been made by AAG regarding POA for my mother....as well as the status of the Reverse Mortgage, and this so called appointment with the vendor. Mr. [redacted] , Mgr. to my loan officer Mr. [redacted] ***, informed me in mid December that my loan had been "Approved" by Underwriting , but that I needed to sign a paper giving them a contact name and number,, which I did do and sent that back to AAG immediately. The second request was that I needed to supply AAG with a survey map showing where the well and septic/leach field was. I informed Mr. [redacted] , that I did not have a survey map showing that, and as a result, [redacted] contacted a vendor who then called me and left a message regarding an inspection. I returned his call, and at that point "Jeremy" informed me that I would be better off to contact a local plumber to measure distances...he told me it would BE MUCH CHEAPER to do that, so I agreed to call someone. He informed me that he would email the underwriter to tell her that I was going to contact a local plumber. However, after calling a few plumbers in my area, I found out that the cost just to "snake the septic system" (find out just where the septic tank was) would cost me at least $250 not counting finding the well or distances). I made Mr. [redacted] aware of this and that I had called the vendor back, but this time spoke to "***". I then told him that I could not afford to put out the $250 let alone the other costs involved to get a thorough measurement of both well, septic and leach field at this time, and therefore wanted to have some idea what the cost would be from the vendor to come out to my property to do this (my understanding is that this is a service that the vendor does for AAG, and in return AAG pays the vendor back with the money I am funded at closing). I also told him that I would like to know what the total cost would be, as well as what the percentage I would be charged for them to be paid back for their services at closing. [redacted] told me he would check into both my questions and get back to me the next day, but I never heard from neither [redacted] or Jeremy ever again. There NEVER was any appointment, not because I didn't ask for one, but because, again, the VENDOR NEVER CALLED ME BACK. In regard to the issue regarding Power Attorney for my mother, [redacted] : First of all, initially (at the very first telephone call to AAG) I discussed my mothers life time estate with the loan officer Mr. [redacted] ***. I immediately made him aware of the fact that I am a caregiver for my 84 year old mother, who is not only totally deaf, but suffers from cardiac disease as well as dementia. I told Mr. [redacted] that I have "DURABLE POWER OF ATTORNEY" for my mother and secondly I made Mr. *** aware that I SOLELY HOLD TITLE to this property at [redacted] and that my mother has Life Time Estate at this address, and that fact is stipulated on the deed to this property. Not only was Mr. [redacted] made aware of this, but at the time of my counseling with [redacted] (HUD Counselor) she too was made aware of this as well. I actually signed my certificate, along with my husband, and I also signed as Power of Attorney for my mother [redacted] . In fact, [redacted] (Reverse Mortgage Counselor) also asked for a copy of the Power of Attorney, which I readily faxed to her. Never, at any time, was I asked to sign any further documents as Power of Attorney for my mother, HOWEVER, if I had been asked.....THERE WOULD BE ABSOLUTELY NO REASON why I would not have done just that. As I stated before, I am a caregiver to my mother, and as such, my biggest goal with getting a Reverse Mortgage was to continue to have her remain in her home where she has resided for the past 58 years. I wanted to make home improvements to this house and her bathroom, which would make life more comfortable for her, as well as the rest of my family. [redacted] did ask me about my mother and asked me if she was living with me at the house, which of course I told her she was and that I was her caregiver. She asked me what her health was, and I informed her that my mother was 84, totally deaf, has cardiac health issues, and suffers from dementia. She never asked me to sign as Power of Attorney at that point or any other time for that matter. As far as the appraisal goes, the woman who did the appraisal "found nothing wrong" with house or property, and as she stated to me "NO RED FLAGS". It appears to me that AAG is trying to build a "smoke screen" to cover up the real issues here., and that the fact of the matter is.....AAG has failed miserably on giving me and apparently many, many others "full disclosure". The fact of the matter is, anyone seeking a Reverse Mortgage insured by FHA SHOULD BE GIVEN THE FULL DESCRIPTIVE DISCLOSURE UP FRONT OF ALL GUIDELINES, and in my case regarding a PRIVATE WELL AND SEPTIC/LEACH FIELD. Had I been aware of the distance requirements I would have been able to make a far better informed and educated decision as to whether or not go forward with a Reverse Mortgage Process. I HAVE NEVER RECEIVED ANY COPIES OF SIGNED DOCUMENTS FROM AAG. AREN'T I ENTITLED TO THIS BY LAW???????????????????? Ironically, I keep getting phone calls from another loan officer who apparently took over for Mr. [redacted] ***. He has left me several messages now, telling me that Mr. [redacted] is NO LONGER WIT THE COMPANY". I find it interesting that [redacted] is no longer with AAG. It is even still more interesting to me that this loan officer , now employed with AAG and who took Mr. [redacted] ***'s place is still pursuing me for the Reverse Mortgage. I have kept his voice mails, and by the way I have numerous emails substantiating details of this entire AAG MESS. No, I do not accept AAG's weak response. They are responsible for "NONDISCLOSURE", "UNETHICAL BUSINESS PROCEDURES", and '"MISREPRESENTATION" and now 'MAKING FALSE ACCUSATIONS" regarding "ME, the "CONSUMER" instead of doing the honorable thing here.......RETURNING THE FUNDS THAT ARE DUE ME. AGAIN, I feel I am undeniably owed back my counseling fee of $115 and the appraisal fee of $445. However, at the very least PLEASE POST THIS INFORMATION for the next SENIOR CITIZEN so that they are fully aware of these kind of issues. AAG should be held fully accountable for this action. BBB thank you for your time. Sincerely, [redacted]

Good Morning,A written response was mailed to the Consumer on May 27, The Consumer has been placed on the Do Not Contact ListPlease contact me if you have any questions.Sincerely, [redacted] American Advisors GroupComplaints Resolution Manager [redacted] Ext [redacted]