American Advisors Group

Dear Sir/Madam,
AAG has completed its review of the complaintThe Consumer has been advised that she may cancel the flood insurance policy immediatelyA letter has been mailed by our Servicing Department advising her of thisA written response to the
complaint was mailed to the Consumer today, a copy of which is attachedPlease do not hesitate to call or email me for clarification or questionsSincerely,
*** ***
*** *** ***
American Advisors Group
*** *** ***Ms *** *** ** ***Re: Flood Insurance IssueDear Ms***,American Advisors Group (herein AAG) is in receipt of your complaint filed with the betterBusiness Bureau and American Association of Retired People AARP, on July 17, Weappreciate the opportunity to address your concernsIn your complaint, you stated that AAG required you to purchase flood insurance when it is notrequiredYou provided documents stating that your property did not require a flood insurancepolicyAAG would like to apologize for the inconvenienceOur servicing department will be mailingyou a letter advising that you no longer need to have flood insuranceMs*** ***,Supervisor of Tax and Insurance at our Reverse Mortgage Servicing Department can be reachedat *** Ext***She will mail you the letter advising of the change in the floodinsurance, that is, you are no longer to keep a flood insurance policyWe hope this letter has addressed all of your concernsPlease do not hesitate to to contact meanytime by telephone or email if you have any questionsSincerely,
*** ***American Advisors GroupComplaints Resolution Manager*** Ext***

To who it may concern, American Advisors Group strives to provide Consumers, as well as our Borrowers with the highest level of service possible and we appreciate the opportunity to address any concerns that Consumers and our Borrowers may haveWe have conducted a thorough review of the
details associated to the initial communication and actions taken in connection with this consumer and have found that all aspects appear to have been completed properly and in compliance with all Local, State and Federal requirementsIn response to the Consumers concerns, AAG has responded to her directly in a formal letter, mailed via UPS as of today 2/15/2017, detailing each of her concerns individuallyIn addition, we have attached a copy of our response letter here for review by the Revdex.com, as well as proof of shippingAgain, AAG appreciates the opportunity to address these concernsPlease feel free to contact us with any additional questions at the following: AAG CARES Department 866-948-WChapman Ave Orange, CA

Dear Madam,Thank you for your patience while we reviewed this loan for complianceA written response has been mailed to the Consumer, and a copy uploaded for your review.Please do not hesitate to call or email me with any questions or requests for clarification.Sincerely,***
***Escalations/Complaints ManagerAmerican Advisors Group*** Ext***Dear Ms***,American Advisors Group (herein AAG) is I receipt of the above referenced correspondenceWe appreciate the opportunity to address your concerns, and thank you for your patience while we reviewed your loan file.In your online submission to the Revdex.com you stated that you want AAG to pay for expenses incurred during the processing of your loan.AAG has done a thorough review of your loan file including adherence to loan origination, and processing guidelines for HECM loan, and found the following:During the appraisal, the appraiser noted that your property did not meet all FHA/ HUD minimum guidelines as outlined in Handbook and and all applicable mortgagee letters, due to the presence of water in the basementExhibit "A"- (Appraisal Report page of 6; line 11)The appraiser noted in line of the Report that your home would meet HUD minimum property requirements once repairs were complete.AAG's loan origination and processing department discussed the repair requirements with you, which you approved on September 18, The engineering report was completed on October 20, You were reminded at this time that if the loan closed, the foundation report and repair costs would be paid our of loan proceeds at fundingAAG's policy regarding 3rd party contractors is always explained very clearly to our borrowers in advance of them ordering such servicesOn March 24, 2015, you signed a Release, Indemnification and Hold Harmless AgreementParagraph of the Agreement states that the borrower is solely responsible for the payment of third party fees incurred in connection with the mortgage loan, regardless of whether the borrower is approved or denied for the mortgage loan, or if the loan does not close(Exhibit "B" Release, Indemnification and Hold Harmless Agreement).I have also included the Engineering Report for your home detailing what repairs are needed to bring the property up to minimum HUD property standards so it can qualify for an FHA insured loanEngineering Reports- Exhibit "C".AAG is sorry we were not able to work with you to close your loan, which was in an Approved status pending repairs by a qualified contractorAAG provided you the opportunity to have repairs completed but you were unable to proceed due to lack of fundsWhile AAG was waiting for your decision to proceed, the appraisal expired, and a new appraisal would have to be done to keep the application in complianceOn October 29, 2015, AAG was compelled to cancel your loan due to ECOA compliance requirements(Notice of cancellation dated 10/29/2015-Exhibit "D").We would like to remind you that you may re-apply for the reverse mortgageThis would entail completing a new application, undergoing HECM counseling, getting an appraisal done and completing repairs to your foundation.We hope this letter has addressed all of your concernsPlease do not hesitate to to contact me anytime by telephone or email if you have any questions.Sincerely,*** ***American Advisors GroupComplaint Resolution Manager*** Ext.***

The people there were very informative and Mario G was a pure Angel in trying to help me understanding the process! Would recommend them to anyone

It was very impersonalThere were a lot of questions left unanswered some of them answered themselves as the loan process progressedI was concerned at one point when I received a call from a new loan agent telling me the one that was handling my loan had quit and then the one that was handling it called and said that wasn't truePretty alarming when they are in charge of what you have worked so hard for all your lifeIt turned out the right hand didn't know what the left hand was doing but I wasn't comforted by thatOverall though it all turned out fine considering I was dealing with people I had never met before that were in New York and I was in Missouri

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution would be satisfactory to me. I will wait for the business to perform this action and, if it does, will consider this complaint resolved
I spoke with *** *** on the phone today, 11-19- I won't say that I am happy with the outcome but I do understand it I consider this matter resolved
Regards,
*** ***

Dear Sir/Madam,
Please pardon the delay in responding to the rejoinder by the Consumer on April 18,
This loan is presently being reviewed by our Compliance Department which has almost completed its findings
The review by the Underwriting and Audit Department is currently being done after which AAG will communicate its findings to the Counsumer and to the Revdex.comOur preliminary findings suggest that there is cause for concern in the manner in which the loan was originated and we want to ensure that the Consumer is given the full benefit of a thorough review of the process, from origination to Denial of the loan, so any errors in origination may be resolved to the Consumer's satisfaction
We hope that the Consumer understands that the desire to research the Consumer's concerns are very important to us and appreciate her patience
Please feel free to contact me regarding this complaint at 866-948-Ext.*** or at ***
Sincerely,
*** ***
Complaint Resolution Specialist
American Advisors Group

The process was simple and easy and straightforward and was a pleasure to get done

Dear Madam/Sir,AAG has provided a truthful and transparent written response to which the Consumer's son responded with a rejectionWe are satisfied that this loan was originated in compliance with all applicable laws and guidelines and our written response, which I am attaching in its original form, stands. We are confident that our actions will stand up to any scrutiny.Please call or email me with any questions.Sincerely,*** ***American Advisors GroupComplaints Resolution Manager*** Ext***

Dear Madam/Sir,
AAG has provided a truthful and transparent written response to which the Consumer's son responded with a rejectionWe are satisfied that this loan was originated in compliance with all applicable laws and guidelines and our written response, which I am attaching in its original form, stands.
We are confident that our actions will stand up to any scrutinyPlease call or email me with any questionsSincerely,
*** ***
American Advisors Group
Complaints Resolution Manager
*** Ext***
***

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below
See Attached,
Regards,
*** ***

Reverse mortgage processing appeared to process as expected No problems encountered to date Monies available to us at this time is not being withdrawn until needed

This whole process was fairly quick and easy to followLynn (my rep from AAG) was a jewel she explained everything and kept in touch through the entire process She explained the different types of loans and when I decided which one I wanted, she went into detail on how it worked

I was very pleased with all aspects of my experience

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below
Attention: Revdex.com
The "so called" answer to my complaint that now has been offered by AAG is totally unacceptable. AAG is evading the real problem here.....THEY FAILED TO DISCLOSE EXTREMELY IMPORTANT INFORMATION TO ME REGARDING THE FHA GUIDELINES WHICH PERTAIN TO THE DISTANCES BETWEEN PRIVATE WELLS AND SEPTIC/LEACH FEILDS. Had I been made aware of this on my initial consultation with MrAllen Lopez (who incidently and very interestingly "no longer works for AAG"), I AS A CONSUMER WOULD HAVE BEEN BETTER INFORMED and BETER EDUCATED to decide whether or not to go forward with a COSTLY APPRAISAL AS WELL AS THE COUNSELLING FEE. Especially since PRIVATE WELL AND SEPTIC/LEACH FIELD DISTANCES ARE A CRITICAL PART OF WHETHER OR NOT A FHA REVERSE MORTGAGE WILL BE APPROVED. Moving a Septic System/Leach field and drilling a new well are highly costly and legally do not constitute a 'REPAIR".
Mr*** has in his last response "falsely accused me of a number of things", indicating that as a reason for not proceeding or refunding my money. I answered that response, SHOWING THAT AAG FALSELY ACCUSED ME AND THAT I HAVE EMAILS CONFIRMING this, and IN FACT THAT THAT I DID EVERYTHING THAT I WAS ASKED AND MORE. (Revdex.com, PLEASE REVIEW THE PREVIOUS RSPONSE THAT WAS GIVEN BY AAG, AS WELL AS MY PREVIOUS RESPONSE TO IT). Mr*** in their current response has made not one mention of any of that......very interesting indeed!
FURTHERMORE, I WILL NOT EVER CONSIDER THIS CASE CLOSED WITHOUT A FULL REFUND OF THE FUNDS THAT I PAID FOR AN APPRAISAL and the COUNSELLING FEE, which I would never have agreed to in the first place had I BEEN GIVEN FULL DISCLOSURE FROM THE VERY BEGINNING. IN ADDITION: I HAVE NEVER RECIEVED ANY COPIES OF any SIGNED DOCUMENTS, WHICH I believe to be ILLEGAL.
SENIORS DESERVE BETTER THAN THIS.....we have worked hard all our life, and at the very least it would seem it only fair and decent that we are treated with honor and respect. AAG, in this case, is guilty of unethical business practices and "nondisclosure".
Revdex.com, I appreciate your time, but unfortunately, I do not consider this "closed"
Thank you,
*** ***
ALSO, al
SHOindicating or proceeding with to mtrying to which I am able to prove and have so indicated to Revdex.com and AAG. . failing to ccuseis smomMmR
Regards,
*** ***

We had a Positive experience With AAG, Loan officer, underwriter were very polite and helpfulTook about months, we were informed about the status of loan weekly

Good group to do business with

To who it may concern, American Advisors Group strives to provide Consumers, as well as our Borrowers with the highest level of service possible and we appreciate the opportunity to address any concerns that Consumers and our Borrowers may haveWe have conducted a thorough review of the
details associated to the consumers advertising/marketing concerns and found nothing within our system to substantiate the claimsIn response to the Consumers concerns, AAG has responded to him directly in a formal letter, mailed via *** Certified, as of today 3/14/2017, requesting additional details which would allow us to further our attempts to find a resolution for this consumerIn addition, we have attached a copy of our response letter here for review by the Revdex.com, as well as the shipping detailsAgain, AAG appreciates the opportunity to address these concernsPlease feel free to contact us with any additional questions at the following: AAG CARES Department *** *** ** *** *** *** ** ***

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 closed.Please feel free to call or email me with any questions.Sincerely,*** ***American Advisors GroupComplaints Resolution Manager*** Ext***Dear Ms***,American Advisors Group (herein AAG) is in receipt of your rebuttal to our responseWe appreciate the opportunity to address your concerns.In 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 proceeds.Once 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 process.During 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 factors.Please do not hesitate to call or email me if you have any questions.Sincerely,*** ***American Advisors GroupComplaints Resolution Manager*** Ext***

Today I called AAG and asked the person who answered if she could tell me who owned the companyI said that since a senator was advertising for them and gave me AAG's phone number, was this company owned by the government or was it a government agency? The woman couldn't answer any question and she transferred me to someone elseWhen I repeated this to the second woman, she just hung up on meI guess their customer service is non-existent Thank you, Kay