American Financial Resources, Inc(“AFR”) is in receipt of the complaint that you filed with the Revdex.com of New Jersey (“Revdex.com”) In the complaint you claim that you are unsatisfied that your loan application was denied as a result of the bankruptcy you filed in November Also, you are displeased with the charge for the appraisal on your property Our company is a nationwide mortgage lender with Direct Endorsement (DE) authority from the Department of Housing and Urban Development and an approved FHA lender As evidenced by our historically strong customer satisfaction ratings, we take all consumer inquiries very seriously.As a regulated institution, we must adhere to all underwriting guidelines promulgated directly by the Department of Housing and Urban Development (HUD) We maintain internal controls to operate a prudent underwriting environment Mortgage applications are document intensive, and underwriters must be certain that transactions are vetted in HUD’s best interest Sensible underwriting requires full investigation of previous bankruptcies Verification of income, assets, job history, etcoften begets additional underwriting conditions In the case of this loan, although the Chapter bankruptcy may have been a factor in the decision, it was not the only factor After a thorough review of your financial picture, it was determined that there were excessive financial commitments, and the level of income was insufficient for this new obligation Those circumstances would not have been uncovered until the underwriting process was initiated A licensed mortgage loan originator, no matter how experienced, cannot predict the full verified financial picture at the early stage of the loan process As a direct endorsement lender offering government insured loans, we must abide by all regulations pertaining to Appraiser Independence Requirements To comply with these statutes, your appraisal was ordered though an independent third-party appraisal management company, and any fees expended were received by third parties As an Equal Housing Lender, we strive to provide financing to all qualified candidates on all eligible properties Please be advised that our company neither charges application fees, underwriting fees, nor any lender fees whatsoever Our company does not generate any revenue until a loan actually closes Over the past fifteen years, we have helped tens of thousands of families achieve homeownership, and work tirelessly to handle all transactions in a professional manner Nevertheless, we are crestfallen that you were less than 100% satisfied in dealing with our company Unfortunately, not every application resultsin approved financing and every contingency cannot be anticipated in advance Thank you in advance for your consideration
Complaint: [redacted] I am rejecting this response because: The loan has not been closed and assurances from compliance counsel that they would go further to ensure I was completely satisfied were not met Regards, [redacted]
Complaint: [redacted] I am rejecting this response because: I feel we were not given a choice in the matter and because it was the mortgage companies fault for not ordering the appraisal on time that I had accumulated interest and had to make another mortgage payment I feel that this company, if they want to keep a good reputation, should just pay the $to keep the customer happyI do not agree with the response from this business and I will not recommend them to anyoneEspecially since it takes them days just to respond! Regards, [redacted]
Complaint: [redacted] I am rejecting this response because: Your competitors are closing refinance loans in 3-weeks for all kind of propertiesThis was also the timeframe estimate I was given when I started the refinance processAll the ratelock extensions that were provided to me for free was because it was no fault of mineI was the one initiating all the status update calls and emailsOnce I had to call the processor times in a day to finally get an updateThis is the level of customer service I had to deal withI can understand that there can be delays for 10-days in order to close the loan but delays of months are just not acceptable If I knew beforehand that I would be facing these delays, I would have taken my business elsewhereI am not happy with your settlement of $I had incurred monetary loss at $a month(total $for months) due to the difference of interest until the refinance process completedI would like to be compensated for my lossAlso, the other $I am seeking is for not closing the loan on timeI had to take time out of my work in order to follow up with the loan processor and originator almost on a daily basis for the last days of my refinanceThis is the minimum I would like to be compensated for the frustation endured and patiently waiting for this refi process to complete Regards, [redacted]
Dear Ms [redacted] ,Good morning We appreciate your follinquiry Our company strives for 100% customer satisfaction in all facets of our businessWe accept nearly 30,applications on an annual basis, and our goal of transparency is applied to each and every consumer In the interest of high-level of customer service, and continuing to earn your business and trust, we will be issuing you a check in the amount of $as requested The courier service should deliver the proceeds some time next week Should you have any questions or concerns, please do not hesitate to contact our Compliance Department Thank you in advance for your consideration, and we hope you enjoy your residence
Dear Mr***,Good afternoon We apologize for the delayed response, but had difficulty in uploading an attachment to the Revdex.com siteIn any event, we are crestfallen that you remain aggrieved with our customer service We sincerely wish we could offer you a formal commitment to lend, but we strictly adhere to our published underwriting guidelines and must disposition the file accordingly We have assisted over 50,families with residential financing, and we always seek 100% customer satisfaction Although we did not earn any fees on this transaction, and spent considerable internal resources ourselves in underwriting the file, we recognize your frustration level of spending time in the application process In the interest of customer satisfaction, however, the company would like to personally pay you the full amount of your appraisal This is not technically a refund since we did not collect any fees, but we hope that the funds paid on your behalf will reflect our commitment to the communities we serve If you provide a current address, our accounting department will send a check to you in the next week to ten days If you have any questions, please do not hesitate to contact our compliance department Thank you
Complaint: [redacted] I am rejecting this response because: On any refinance it shouldn't take from July 15th to October 15th to realize you need documents, that you didn't ask for in the beginningI got strung along because they could not honor the original quote on interest rate that is what truly happenedThis is not my first rodeo with Mortgage companies, no one has ever treated me the way this company didI cannot get the time back, however I want what this application ended up costing me in appraisals Regards, [redacted] ***
Dear Mr***,Good afternoon We are crestfallen to see that the Complaint response was rejected; we strive for 100% customer satisfaction Upon our notice of the rejection, we confirmed with the Appraisal Management Company that the requested refund was properly administered We are attaching a copy of the correspodnence reflecting the refund amount of $ We trust this is to your complete satisfaction Thank you again for the opportunity to address the issue
[A default letter is provided here which indicates your acceptance of the business's response If you wish, you may update it before sending it.] Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and find that this resolution is satisfactory to me The third party refunded my credit card for the faulty inspection with no help, indeed roadblocks and outright refusal to do anything before this dispute was filed and then putting it off on someone else who also refused to do anything until the credit charge was challenged and the threat of a case being filed with both the Revdex.com and The Consumer Protection Bureau The customer service exhibited by your company was sub-par in every way and I can not recommend your company nor the Appraisal Service for any reason Regards, [redacted] ***
[A default letter is provided here which indicates your acceptance of the business's response If you wish, you may update it before sending it.] Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and find that this resolution is satisfactory to me My Address Regards, [redacted] *** Address is [redacted] ***
American Financial Resources, Inc(d/b/a eLend) is in receipt of your consumer complaint relating to your recent mortgage application Our company is a nationwide mortgage lender with Direct Endorsement Authority from the Department of Housing and Urban Development We are also an approved seller/servicer with Fannie Mae and Freddie Mac As evidenced by our strong customer satisfaction ratings, we take all consumer inquires very seriously As an Equal Housing Lender, our company strives to provide financing to all qualified individuals on all eligible properties As a regulated institution, we must adhere to all FHA appraisal and underwriting guidelines These legal requirements mandate that all appraisals are ordered through a non-affiliated Appraisal Management Company; any monies expended were received by a third-party Please be advised that our company neither charges application fees, underwriting fees, nor any lender fees whatsoever Our company does not generate any revenue unless a loan actually closes While we cannot speak directly for an unaffiliated vendor, the appraisal companies invoices are generally reasonable and customary for valuation services Nevertheless, our company strives for complete borrower satisfaction and timely receipt of documents Therefore, we have lobbied on your behalf to have the Appraisal Management Company reimburse you for the entire cost of your appraisal Additionally, for your records, eLend has transmitted a complete physical copy of your appraisal via United Parcel Service We apologize if there was any perceived lack of communication; we pride ourselves on always delivering a high level of customer service Over the past sixteen years, we have helped tens of thousands of families achieve homeownership, and work tirelessly to handle all transactions in a professional manner Thank you in advance for your consideration
Dear Mr***,Good afternoon Our company has operated for nearly two decades, and continues to act appropriately in the lending environment We are crestfallen that you are less than 100% satisfied with the underwriting timeframe, but please note that prudent underwriting requires verification of income, assets, and employment When red flags arise (particularly with occupancy and employment), our seasoned staff members are trained to perform high level analysis We sincerely hope you are pleased with the final terms and conditions of your transaction, and wish you the best in your future endeavors Thanks again
American Financial Resources, Inc(“AFR”) is in receipt of the complaint that you filed with the Revdex.com of New Jersey (“Revdex.com”) In the complaint you claim that you are unsatisfied that your loan application was denied as a result of the bankruptcy you filed in November Also, you are displeased with the charge for the appraisal on your property Our company is a nationwide mortgage lender with Direct Endorsement (DE) authority from the Department of Housing and Urban Development and an approved FHA lender As evidenced by our historically strong customer satisfaction ratings, we take all consumer inquiries very seriously.As a regulated institution, we must adhere to all underwriting guidelines promulgated directly by the Department of Housing and Urban Development (HUD) We maintain internal controls to operate a prudent underwriting environment Mortgage applications are document intensive, and underwriters must be certain that transactions are vetted in HUD’s best interest Sensible underwriting requires full investigation of previous bankruptcies Verification of income, assets, job history, etcoften begets additional underwriting conditions In the case of this loan, although the Chapter bankruptcy may have been a factor in the decision, it was not the only factor After a thorough review of your financial picture, it was determined that there were excessive financial commitments, and the level of income was insufficient for this new obligation Those circumstances would not have been uncovered until the underwriting process was initiated A licensed mortgage loan originator, no matter how experienced, cannot predict the full verified financial picture at the early stage of the loan process As a direct endorsement lender offering government insured loans, we must abide by all regulations pertaining to Appraiser Independence Requirements To comply with these statutes, your appraisal was ordered though an independent third-party appraisal management company, and any fees expended were received by third parties As an Equal Housing Lender, we strive to provide financing to all qualified candidates on all eligible properties Please be advised that our company neither charges application fees, underwriting fees, nor any lender fees whatsoever Our company does not generate any revenue until a loan actually closes Over the past fifteen years, we have helped tens of thousands of families achieve homeownership, and work tirelessly to handle all transactions in a professional manner Nevertheless, we are crestfallen that you were less than 100% satisfied in dealing with our company Unfortunately, not every application resultsin approved financing and every contingency cannot be anticipated in advance Thank you in advance for your consideration
Complaint: [redacted] I am rejecting this response because: The loan has not been closed and assurances from compliance counsel that they would go further to ensure I was completely satisfied were not met Regards, [redacted]
Complaint: [redacted] I am rejecting this response because: I feel we were not given a choice in the matter and because it was the mortgage companies fault for not ordering the appraisal on time that I had accumulated interest and had to make another mortgage payment I feel that this company, if they want to keep a good reputation, should just pay the $to keep the customer happyI do not agree with the response from this business and I will not recommend them to anyoneEspecially since it takes them days just to respond! Regards, [redacted]
Complaint: [redacted] I am rejecting this response because: Your competitors are closing refinance loans in 3-weeks for all kind of propertiesThis was also the timeframe estimate I was given when I started the refinance processAll the ratelock extensions that were provided to me for free was because it was no fault of mineI was the one initiating all the status update calls and emailsOnce I had to call the processor times in a day to finally get an updateThis is the level of customer service I had to deal withI can understand that there can be delays for 10-days in order to close the loan but delays of months are just not acceptable If I knew beforehand that I would be facing these delays, I would have taken my business elsewhereI am not happy with your settlement of $I had incurred monetary loss at $a month(total $for months) due to the difference of interest until the refinance process completedI would like to be compensated for my lossAlso, the other $I am seeking is for not closing the loan on timeI had to take time out of my work in order to follow up with the loan processor and originator almost on a daily basis for the last days of my refinanceThis is the minimum I would like to be compensated for the frustation endured and patiently waiting for this refi process to complete Regards, [redacted]
Dear Ms [redacted] ,Good morning We appreciate your follinquiry Our company strives for 100% customer satisfaction in all facets of our businessWe accept nearly 30,applications on an annual basis, and our goal of transparency is applied to each and every consumer In the interest of high-level of customer service, and continuing to earn your business and trust, we will be issuing you a check in the amount of $as requested The courier service should deliver the proceeds some time next week Should you have any questions or concerns, please do not hesitate to contact our Compliance Department Thank you in advance for your consideration, and we hope you enjoy your residence
Dear Mr***,Good afternoon We apologize for the delayed response, but had difficulty in uploading an attachment to the Revdex.com siteIn any event, we are crestfallen that you remain aggrieved with our customer service We sincerely wish we could offer you a formal commitment to lend, but we strictly adhere to our published underwriting guidelines and must disposition the file accordingly We have assisted over 50,families with residential financing, and we always seek 100% customer satisfaction Although we did not earn any fees on this transaction, and spent considerable internal resources ourselves in underwriting the file, we recognize your frustration level of spending time in the application process In the interest of customer satisfaction, however, the company would like to personally pay you the full amount of your appraisal This is not technically a refund since we did not collect any fees, but we hope that the funds paid on your behalf will reflect our commitment to the communities we serve If you provide a current address, our accounting department will send a check to you in the next week to ten days If you have any questions, please do not hesitate to contact our compliance department Thank you
Complaint: [redacted] I am rejecting this response because: On any refinance it shouldn't take from July 15th to October 15th to realize you need documents, that you didn't ask for in the beginningI got strung along because they could not honor the original quote on interest rate that is what truly happenedThis is not my first rodeo with Mortgage companies, no one has ever treated me the way this company didI cannot get the time back, however I want what this application ended up costing me in appraisals Regards, [redacted] ***
Dear Mr***,Good afternoon We are crestfallen to see that the Complaint response was rejected; we strive for 100% customer satisfaction Upon our notice of the rejection, we confirmed with the Appraisal Management Company that the requested refund was properly administered We are attaching a copy of the correspodnence reflecting the refund amount of $ We trust this is to your complete satisfaction Thank you again for the opportunity to address the issue
[A default letter is provided here which indicates your acceptance of the business's response If you wish, you may update it before sending it.] Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and find that this resolution is satisfactory to me The third party refunded my credit card for the faulty inspection with no help, indeed roadblocks and outright refusal to do anything before this dispute was filed and then putting it off on someone else who also refused to do anything until the credit charge was challenged and the threat of a case being filed with both the Revdex.com and The Consumer Protection Bureau The customer service exhibited by your company was sub-par in every way and I can not recommend your company nor the Appraisal Service for any reason Regards, [redacted] ***
[A default letter is provided here which indicates your acceptance of the business's response If you wish, you may update it before sending it.] Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and find that this resolution is satisfactory to me My Address Regards, [redacted] *** Address is [redacted] ***
American Financial Resources, Inc(d/b/a eLend) is in receipt of your consumer complaint relating to your recent mortgage application Our company is a nationwide mortgage lender with Direct Endorsement Authority from the Department of Housing and Urban Development We are also an approved seller/servicer with Fannie Mae and Freddie Mac As evidenced by our strong customer satisfaction ratings, we take all consumer inquires very seriously As an Equal Housing Lender, our company strives to provide financing to all qualified individuals on all eligible properties As a regulated institution, we must adhere to all FHA appraisal and underwriting guidelines These legal requirements mandate that all appraisals are ordered through a non-affiliated Appraisal Management Company; any monies expended were received by a third-party Please be advised that our company neither charges application fees, underwriting fees, nor any lender fees whatsoever Our company does not generate any revenue unless a loan actually closes While we cannot speak directly for an unaffiliated vendor, the appraisal companies invoices are generally reasonable and customary for valuation services Nevertheless, our company strives for complete borrower satisfaction and timely receipt of documents Therefore, we have lobbied on your behalf to have the Appraisal Management Company reimburse you for the entire cost of your appraisal Additionally, for your records, eLend has transmitted a complete physical copy of your appraisal via United Parcel Service We apologize if there was any perceived lack of communication; we pride ourselves on always delivering a high level of customer service Over the past sixteen years, we have helped tens of thousands of families achieve homeownership, and work tirelessly to handle all transactions in a professional manner Thank you in advance for your consideration
Dear Mr***,Good afternoon Our company has operated for nearly two decades, and continues to act appropriately in the lending environment We are crestfallen that you are less than 100% satisfied with the underwriting timeframe, but please note that prudent underwriting requires verification of income, assets, and employment When red flags arise (particularly with occupancy and employment), our seasoned staff members are trained to perform high level analysis We sincerely hope you are pleased with the final terms and conditions of your transaction, and wish you the best in your future endeavors Thanks again