Asset Financial Center, Inc.

Revdex.com Response ***7/8/15On 6/8/Mr*** contacted our office to file a complaintabout this matterI spoke to him as he shared his complaint and I offered hima solution of reversing the credit inquiryHe denied that resolution andindicated the he just wanted to file the complaint and didn't
seek anyresolution from us As part of our internal research of this matter thefollowing were discovered:Mr& Mrs*** met with a representative of our company toview a home for saleThey indicated their interest in moving forward with thepurchase transactionThe following day, Mrs*** came to our office with allof the pertinent information to apply for financingDuring this process, shedisclosed the necessary information for the loanLater we receivedcommunication from Mr*** indicating that his wife had acted without his consent.Asset Financial Center nor its representativeshave had any ill or fraudulent intent in this transactionIf Mr*** wouldlike the inquiry reversed we would be happy to complete the process with hiscooperation

Review: Began refinance May 29, 2013, not complete as of 9/22/2013. Agent has broken numerous commitments, missed deadlines and has mislead me.

Agent was recommended to me by a local realtor to help me refinance my house. Contacted him and had a lengthy discussion over the phone and committed to working with him to:

1. Get my house title put in my name since I divorced in 2011

2. Refinance my home while the interest rates were in the 3% range

3. Take out between $5K and $8K to pay off some debt.

I was assured by the agent that all of these were doable and that the transaction would be complete by July 1. I got all the paperwork and financial details requested personally delivered to his office on Tuesday, June 4. From there, was assured things were progressing.

Was told via email that the "grant deed" was fed exed to my ex husband on June 10. Heard nothing about the loan again until I followed up with the agent. I have been told on numerous occasions that the paperwork was sent, thing were progressing. As of August 8, see this email in response to a phone call asking for an update:

Hey [redacted]-

I apologize for the lack of communication there! I am definitely moving forward, especially now that the rates have come back down a bit (because they spiked up there in July). So, I am re-sending the Fed Ex to [redacted] tonight, so I will have a Fed Ex tracking number for you, so we can let him know exactly when it will arrive. Once he signs it and has it notarized (and sends it back to us), I will get your loan Approved ASAP, and then we can order the appraisal on the property. With property values coming back a bit, it will help the terms of the loan as well.

So, I am sorry there was quite a bit of stagnant time, but we are going to be moving forward pretty quickly now. I am planning on having your loan completed in the next 3 weeks or so, how does that sound?

Once your loan is approved, I will have a short list of updated documentation that the lender will require (updated bank statements, paystubs, etc), and once we send those in, we will be ready to sign your loan!

I will touch base with you in the morning with that Fed Ex tracking number, so you can let [redacted] know when the package will be there, and I left specific instructions for him as well along with a pre-addressed/pre-paid envelope, so he simply has to drop it at a Fed Ex Location/Box to send it back!

Thanks,

That was never done, I asked for an update on 8/27/2013, got more run around, sent a note on Monday, 9/16/2013 telling him that I would like to end the transaction and this is what I got:

[redacted]-

The rates jumped exponentially in June, but they're looking like they're coming down quite a bit.

As I mentioned last week, we are now approved and moving, so if you would like me to send your documents back, I will, but we are now past the difficult/lengthy part of the process.

Honestly, when I was asked to initially wait due to [redacted], I then put the file aside. When we went to pick it back up, the rates were quite different as they spiked hard in late June/July. They held for a month or so, and now they're as low as they've been in a few months. So, I am sorry there was a lengthy delay, it's not like my process actually takes longer than 25-30 days, it was due to outside forces.

If you are beyond frustrated, I understand, I should've communicated with you, but I didn't know about your wants/needs until last week. So, I can assure you I will get your rate as low as the market will allow, so lets finish this out together and I will provide you daily contact now that we would be completing the appraisal this week (which is $435 and I will pay for it, due to the delay).

Please let me know if that is okay with you.

Told him OK, that I'd give him one more chance because I don't have time to start again and to day, none of the commitments or promises have been kept including daily contact, the appraisal or the paperwork going to my ex husband.

This delay has cause me to lost money due to increased interest rates as well as 4 months of the higher mortgage.Desired Settlement: An apology. I simply want to make sure that the public knows about this and also, make sure that all of their credentials are above board. These people have had my personal financial data since June and I a truly hoping that this is a legitimate business and not a scam. They were recommended to me by one of my top clients and a realtor here in Roseville. This is a competitive industry and it's important for consumers to know who to trust. It is shocking to me that in this environment, a company can stay in business with representation like this.

Business

Response:

Initial Business Response

Response to Revdex.com Case XXXXXXXX

I spoke to the client in length about her experience with our firm and realized that the transaction had become stagnant due to a lack of communication. The client became concerned that she was dealing with an unlicensed representative and entity. However, this was due to an outdated company phone number on the web. Indicated to the client that the company is properly licensed as well as the individual assisting her. The client thanked me for the follow up and indicated that she did not want to further pursue her complaint.

Final Consumer Response

(The consumer indicated he/she DID NOT accept the response from the business.)

The lack of communication was on the part of the company representative, not the client. The client made numerous attempts both by phone and email to move the process along and the company representative was either unresponsive or made promises that he did not keep as the email trail indicates. The concern about the company's standing was not a part of the issue until the day after this complaint was filed.

Review: Operating under false license and cannot deliver. Further, when couldn't seliver falsified my document.

This mortgage company offered me a refinance and QUALIFIED ME. I REPEAT; QUALIFIED ME. then, when they made amistake and couldn't deliver the loan promised, suddenly ran out of excuses. Mo problem, I understand. Tis all took palce in MAY! It is now September. Yesterday, I receive a letter that they have couldn't credit qualify me. This is a lie and they are clearly trying to cover their tracks. Desired Settlement: refi at the original offer. Not my problem that the market has changed.

Business

Response:

Initial Business Response

Response to CASE ID: XXXXXXXX

The client's application for refinance was originally approved with conditions to fund. The conditions to fund were not able to be met and the loan application was withdrawn. A notice from our lending affiliate was issued to the client advising that the application was withdrawn. This decision does not negatively effect the client's credit profile or ability to apply for future financing.

During the time period between the initial issuance of loan disclosures and locking in the terms of the loan the interest rate market worsened. The terms available to lock had become inferior to the initial terms, at that time the client refused the new available terms. Efforts were made to offer the client other available programs, although the client did not find them acceptable. Unfortunately the interest rate market continued to worsen to the degree that the qualification terms of the refinance could no longer be met.

The client's desired resolution is not possible due to major deterioration in the interest rate market.

Final Consumer Response

(The consumer indicated he/she DID NOT accept the response from the business.)

This is false explanation; specifically the term, "conditions were not able to be met." One, I absolutely could meet the conditions. What went wrong was that the loan officer failed to LOCK my loan after HE made a mistake on my paperwork causing a delay which in turn caused me to miss the optimum rate offered. Two, the refernece made to "application withdrawn," is a farce. 4 months later, I received a letter fromtheir office stating that I was not credit qualified. Even that does not match the answer they are supplying above.

This is a farce of an answer and an outright sham of a business operation. Due to poor performance, I was not only slighted out of an excellent opportunity, but not exists a false document; created to hide their poor practice.

I demand that their review the entire issue and resolve this properly. Failure to lock the loan after a paperwork error is the issue.

Review: This company...(Asset Financial Center, Inc.), aka. AFC360 Mortgage Center, ran my credit (hard copy) on June 4, 2015; without my express &/or direct written authorization/consent.(documented)This illegal action and a violation of my personal data was confirmed by phone conversations on June 8th, 2015, to both the salesperson ([redacted])... who ran my credit and her employer/President of the company ([redacted]).I have confirmed this violation with [redacted] and have obtained a copy of my credit report showing the illegal act of the inquiry by Asset Financial Center accessed through [redacted]).The employee, [redacted]., deceptively persuaded my estranged wife to divulge my personal information/profile to her (i.e.: full name, D.O.B., SSN, CDL, address, employment, etc.) with claims that it would be "legally" okay to do so and that it falls under the justification as being part of the "community property state" clause or laws; without any adverse repercussions.However, the true fact is, "community property state" clause or laws does not encompass or pertains to private information or credit, as well as, use of. In fact, the privacy of one's own identity and personal credit info. stands upon its own merit and individuality or entity.Therefore, (as recommended and if applicable jurisdiction applies) I have begun the process of also notifying the following agencies &/or State/Federal authorities to filing a complaint against said company and individuals for identity theft: California Bureau of Real Estate, Federal Trade Commission (FTC), FHA (HUD), Consumer Financial Protection (CFPB), Sacramento Police Dept. (SPD), [redacted], FBI, California State Attorney's Office.This intentional negligence and intrusion to obtain, critique and evaluate my personal information is a direct violation of FCRA (FTC) 1681b law.*THE ABOVE CLAIM/ACCUSATION IS VERIFIABLE AND DOCUMENT SUPPORTED.Desired Settlement: For Revdex.com to re-evaluate and assess your endorsement or grade of Asset Financial Center (aka: AFC360 Mortgage Center).Personally, I value the integrity of what Revdex.com stands for to allowing companies, business entities, and government agencies they evaluate and permit the use of the Revdex.com symbol alongside their own business names. With that being said, I hope you will now do the right thing with how the mentioned company of my complaint has NOT met the expectations or knowingly done the right thing.

Business

Response:

Revdex.com Response [redacted]7/8/15On 6/8/15 Mr. [redacted] contacted our office to file a complaintabout this matter. I spoke to him as he shared his complaint and I offered hima solution of reversing the credit inquiry. He denied that resolution andindicated the he just wanted to file the complaint and didn't seek anyresolution from us. As part of our internal research of this matter thefollowing were discovered:Mr. & Mrs. [redacted] met with a representative of our company toview a home for sale. They indicated their interest in moving forward with thepurchase transaction. The following day, Mrs. [redacted] came to our office with allof the pertinent information to apply for financing. During this process, shedisclosed the necessary information for the loan. Later we receivedcommunication from Mr. [redacted] indicating that his wife had acted without his consent.Asset Financial Center nor its representativeshave had any ill or fraudulent intent in this transaction. If Mr. [redacted] wouldlike the inquiry reversed we would be happy to complete the process with hiscooperation.