ComplaintsforAmerican Financial Network Inc

• Initial Complaint

  09/04/2024

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  The purpose of this letter is to report Fraud and Deceptive Mortgage Practices utilized by Landmark Mortgage Planners a Division of American Financial Network (AFN) in obtaining a VA Loan [Loan ID # ***********]. Irrefutable material evidence shows the lender claiming points on Federal Forms (VA *******, Item 14, $7,323.75) and no points were paid.

• Initial Complaint

  09/01/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I am posting here as I am seeking a resolution to an account set up miscommunication with this company resulting in a delinquency reporting on my credit. I have mailed a letter as well as spoken with an agent to have the calls reviewed. After setting up my account and making the initial payments, I continued to receive emails instructing me to set up an account. When I called for assistance on June 4, 2024, I was assured by an agent that there were no outstanding issues with my account. I received another account setup email on June 6, 2024. Upon noticing additional correspondence, I reached out again but was not informed about the necessity of adding a second loan to my account. On July 22, 2024, after receiving a letter about late payments, I contacted customer service again. The agent informed me that I was behind on payments and needed to add the additional loan to my account. Following his instructions, I noted how to create a new account, only to be told by the manager, whom I requested to speak to after working with the agent, that this was incorrect. I was then guided by him to add the second loan through the settings tab.On July 22, 2024 The manager I was forwarded to acknowledged the communication issues and noted that previous calls were not logged in my file, despite my multiple attempts to clarify my account status. Following this call, I received an account setup email for loan in question, which I had not previously received. The forwarding of this email was not discussed or requested in the conversation with the manager.On August 23, 2024 after speaking to a representative in the **************************** I learned that the manager whom I spoke to, is not a manager, instead in leadership. On July 22, 2024, I requested to speak to a manager.On August 23, 2024, taking care of another request, I discovered communications were being mailed to the wrong address although I have updated my address upon setting up my account.

  Business response

  10/08/2024

  Dear consumer, upon receipt of your complaint, American Financial Network, Inc. ("AFN") conducted a thorough review of the loan file and determined that you have two loans, both of which were originated March 7, 2024 with a first payment of May 1, 2024. The loans transferred to the AFN's current sub-servicing office on March 15, 2024. You made all payments on one of the loans from origination through present; however, when no payments were made on the other loan, AFN sent you notices and made multiple calls and left voicemails in an attempt to cure the delinquency. You did not return the calls until July 22, 2024. When you spoke with AFN, you advised us that the mailing address we had on file was not correct and AFN updated the address. You made the May, June, and July 2024 payments on July 31, 2024. Regarding the credit reporting, per the terms of the Promissory Note and under the Fair Credit Reporting Act (FCRA), AFN is required to report accurately, and as the May and June 2024 payments were past due, the reporting is correct and cannot be changed. If you have any questions or need further information regarding this complaint, please contact the American Financial Network Customer Care Center at 1-844-685-1793 from 8 am to 9 pm ET, Monday through Friday, and Saturday 8 am to 12 pm ET, excluding major holidays, or message us at afncorp.servicingdivision.com/MSG. 

• Initial Complaint

  08/19/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  We used ******* ******** as our mortgage broker for a closing June 2019. At closing, he promised to refund us money that was ours and never did. We contacted him several times through phone, text, email and he wouldn't answer.

  Business response

  09/18/2024

  Dear consumer, we investigated what American Financial Network, **** ("AFN") is able to for this matter. We did not find the loan at issue in our records. At the time the loan closed in June 2019, the person identified in your complaint was not an AFN employee. We determined that your loan would have been with a different lender. You would need to seek a resolution with them. We emailed you information on the most likely lender. Please understand there are legal rules that are probably applicable here, such as those related to a different lender's confidential and proprietary documents. We wish you the best going forward. 

• Initial Complaint

  08/17/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I reached out to this business because they are on the *** website for helping with *** loans and refinancing. When I spoke to the person assigned to me I specifically told him that I wanted a non credit qualifying refinance. The person then proceeded to tell me to fill out a loan application and ran my credit. He then told me my credit score was too low. He was not supposed hit my credit with the type of refinance I requested according to the ***. I want the hard inquiry on my credit removed.

  Business response

  09/19/2024

  Dear consumer, **************************** ("AFN") conducted an investigation for this matter. Although we sympathize with any frustration you may have experienced, we did not find any improper conduct by AFN. You applied for a streamline refinance loan that required running a credit report. Your loan officer had written communications with you where it was made clear that this would be a requirement. The loan files also contain an authorization form indicating that you gave consent to the loan officer for your credit report to be obtained. We did not find any records where you objected to your credit being run for a report. Again, the loan officer would not have been able to assess your application without a report. He determined that based on your report, that you did not qualify. Regardless of the situation, we do appreciate that you applied for a loan at AFN, and we wish you the best going forward.  

• Initial Complaint

  08/16/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  I have asked them to quit calling me and to remove my number. Now the same guy keeps calling me and using different names and *** asked him numerous of times to remove my number and stop calling and now this is harassment something needs to be done I keep blocking the numbers he is calling from and he is calling me from other numbers!!

  Business response

  09/18/2024

  Dear consumer, American Financial Network, **** is able to confirm that you have been added to our do-not-contact lists. This should resolve the issues. Please note that our company has policies that prohibit all unwanted marketing by our personnel, including the type of conduct mentioned in your complaint. We sympathize with any frustration you may have experienced. If you continue to experience any issues, please feel free to contact us at ************, and ask for our legal department. Thank you for bringing this matter to our attention.   

  Customer response

  09/18/2024

  
  Better Business Bureau:
  
  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.
  
  Regards,
  
  ***************************
  
   
  

• Initial Complaint

  08/16/2024

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  I recently was in the market to purchase a condo in ************, **. My realtor went through AFN, as he had used them in the past, this being my first time purchasing a home. On July 1st, I had a consultation call with **** ***** from the ************ office, to get the process started. At first everything was going smoothly, but on the 21st of July, I was traveling to **. I had communicated this to ****** team, so they could get all the documents needed before I left **. Needless to say, they did not do their due diligence and because of that I had to leave my ******* 2 days early and travel to **, because PA did not have any ***************'s in the area. Once I got to CT, I sent all the paperwork to ******** and called to make sure nothing else was needed, and was told that everything was there. Later that day, I received a message about my Amex saving account documents needed and proof that it had come from my *** account. Needless to say the original loan closing date was moved, then the State of ******** declared a state of emergency, pushing the closing date again. The loan eventually did not go through, leaving a bad taste, and a negative view of your company. I had problems with the 2 loan personnel, ******** ******** and ******* *********. **** ***** was also suppose to call me on 8/15 to discuss her staff, but never called. I have all emails from the beginning of the process until 8/13. My concern is that there is a lack of experience, planning & execution and mismanagement in this office. I am extremely disappointed with the process and I don't think that my needs were met with ****** team.

  Business response

  10/10/2024

  Dear consumer, **************************** ("AFN") sympathizes with any frustration you experienced during the loan application process.  As AFN previously notified you, the reason for the loan denial was the property (condo) was in HOA litigation and ultimately deemed too risky for funding. The realtors and HOA did not make the branch aware of any condo litigation for quite some time after you applied for the loan. The denial was not because of issues related to bank documents. Unfortunately, you are correct that towards the end of your loan application process, SC was declared a state of emergency due to a storm.  As to the bank documents, our understanding is that you did not have access to your banking information online while you were away from home on vacation. Also, it was discovered that you transferred certain monies to/from accounts, and the branch had advised you against doing so. Furthermore, you sent AFN screenshots for account balances instead of all pages to actual statement documents as required. Our personnel had no choice but to ask you multiple times for the actual statements. Regardless of the above, we will take your complaint as an opportunity to learn how to better serve customers and we believe that the issues you raised have been addressed. We thank you for applying for a loan at our company. 
  

  Customer response

  10/10/2024

  This company continues to make excuses for their failures. It took them over 30 days to get information back from the *** that a litigation was in process. Really? LIES LIES LIES

• Initial Complaint

  07/01/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I have two mortgages, American Financial and Freedom mortgage. This month, June, 2024, I tried paying my June payment on the 30th day (which fell on a Sunday). I go to Freedom mortgage, no problem. American Financial, no option to pay online. What! Im nervous because I never had this issue. I am fairly new to American Financial and never heard of the option to pay being blacked out on a Sunday. I tried calling, closed so I requested a call back on Monday at 8am because surely there is some mistake. I cant risk my credit reflecting late. Spoke to Pacya M. and get subordinate prior to her and they both informed me that even though we are given 30 days to pay, it doesnt include weekends. So basically we are not given 30 days! This is a lawsuit waiting to happen. So Im penalized because American Financial locks the option to pay on the weekends and the last day of the month just so happen to be on a weekend. Thats unheard of. I was never informed of this prior and now my credit is going to be messed up for years to come. Im switching this company first chance I get, which is probably never going to happen now because my credit will be messed up smh

  Business response

  07/30/2024

  Dear consumer, American Financial Network, **** sympathizes with any frustration you may have experienced related to your June 2024 loan payment. Please be rest assured that although you were unable to make your payment online, your payment made on July 1, 2024 was not reported negatively to credit bureaus. We believe this resolves the matter and we thank you for your business. 

• Initial Complaint

  06/18/2024

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  My seller has had his home off the market for 3 months waiting for this lender to get a clear to close to the buyer. After being lied to on several occasions by the loan ******** ******* the buyer was finally provided the Loan disclosures as well as closing disclosures. These documents were signed and sent back to the lender and we were to receive the clear to close the next day. We then hear there are additional conditions that have to be met, this is after all loan disclosures have gone out. I, the seller, the buyer and the buyer's agent tried reaching ****** to no avail. He would never answer the phone and it took me calling him from an unrecognized number for him to answer. I asked him what the status update and he told me there were additional conditions and that we should be receiving the clear to close in a couple days. I then asked him why it was taking so long, to get a residential loan that had already been provided loan disclosures, to close and that I had never had a residential loan take this long. I also stated that we would need a true and accurate closing date as we had been provided inaccurate information in the past. A few minutes later the buyer's agent calls me to tell me the buyer was just informed she would need a co-borrower. I feel like this was in retaliation to the conversation that I had with ****** about his lies and stringing everyone along. This company is a joke. I tried calling their corporate office on several occasions and I always get "this the receptionist desk, and no one was at the desk or busy with client" no matter what options I pushed this was the same message. Someone owes the buyer and the seller an explanation. Lots of time and money were lost in the process and the seller could have sold his home to someone else in the time it had taken for us to get the runaround, also the buyer could have sought other lending options.

  Business response

  07/30/2024

  Dear realtor (for the seller),
  American Financial Network,Inc. (AFN) sympathizes with any frustration you *** have experienced as a third party to the loan application process. The loan officer does not believe he ever tried to avoid communications with you. He does not recall any missed calls that he did not return and were directed to his phone number. He is unsure if you *** have attempted communications to other persons that *** have not been returned. Nevertheless, AFN apologizes if any calls were not returned to you and would have involved a proper communication with a third party. We believe that the loan officer *** has clarity from the company on responding to inquiries. The status of the loan in our electronic records is listed as withdrawn by the applicant. Apparently the borrower did not meet conditions and AFN tried repeatedly to have them met. Ultimately, the borrower withdrew the loan application. If you have any further questions or concerns, please contact our legal department. We believe that you are already in touch with AFN legal and have contact information. Thank you for giving us the opportunity to better serve customers and where it is appropriate, third parties. 

• Initial Complaint

  06/17/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  Hello I received a letter about my condo Ref#***AB10868 NMLS#******. I called and got approved. I then waited days for the lender to e mail me so I could send over documents. After a week I contacted another representative ****, he gave me a email to send over tax returns. Again I am responding to a letter in the mail. It's been 2 weeks I've emailed **** to follow up and there still had been no response. SCAMMMMMMMMM SCAMMMMMMMM SCAMMMMMMM SCAMMMMMMM I have had all my information red flag so it there is any use of it the SCAMMERSSSSSSS will be PROSECUTED. If you recieve a letter I suggest look at the reviews 1st. I'm just reviewing them and it seems as if they're are many unethical things about this company. HOMEOWNERS BE AWARE

  Business response

  07/12/2024

  Dear consumer, American Financial Network, **** ("AFN") sympathizes with any frustration you may have experienced related to your loan inquiry. Our understanding is that the AFN branch reached out to you directly to resolve this matter. According to the branch, unfortunately you did not qualify for the loan. ************** advised us that they tried calling you to inform you and they also sent you email. This was definitely not a scam and AFN is a reputable lender. We place a high value on customer service, and we generally receive positive feedback. We appreciate that you gave us an opportunity to look into this and have the branch resolve the issues. We wish you the best. 

• Initial Complaint

  04/26/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Loan Payment/Escrow Issues started 3/2/2024.Loan No. #********** New Loan No.# ********** Issue: AFN Transferred Servicing ******************** ******* within the company; internally. Statements reflect new payment with escrow which was paid in a lump sum to keep monthly payments the same. Have spoken to various AFN personnel to resolve issue, however to no avail. Personal check #**** (escrow payment) was received on 4/5/24 but to date statements do not reflect that. Monthly payments should be $802.79 and not $892.74. Last correspondence stated "failure to make your full mortgage payment by the end of this month may lead to adverse actions and credit rating being negatively affected".I have placed the calls; I have made my payments accordingly and on time, which I can prove. Now, I am the one to pay the consequences for their inefficiency in updating data and communications? I don't think so.

  Business response

  05/29/2024

  Dear borrower,

  Customer service is extremely important to American Financial Network, **** (AFN) and we thank you for bringing this matter to our attention. Upon receipt of your complaint, AFN conducted a thorough review of the loan file and records. We determined that the subservicing of your loan was transferred on or about March 7, 2024. Prior to the transfer, an escrow analysis had been completed in sub-servicing, which indicated a shortage of $1,079.42. However, you paid the shortage on or about January 1, 2024 and the funds were applied to the shortage. The monthly payment should have been adjusted to $802.79 after taking into account your payment. When the loan was transferred to the current sub-servicer, your monthly payment was inadvertently shown in loan records as $892.74. AFN corrected this issue and adjusted your payment amount to $802.79. There were no late fees nor negative credit reports as a result of the above and/or your prior monthly payments this year. Nonetheless, AFN empathizes with any frustration or confusion you experienced. We do not believe this issue will come up again because our current sub-servicer has indicated that they will be very attentive to these types of issues. We thank you for obtaining a loan from AFN.

   

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