American Financial Resources, Inc.

2019-07-30

Maiden Rock, WI

Trouble during payment process

Mortgage: FHA mortgage

Company Response: Closed with explanation

Timely Response

2019-07-26

Bayway, NJ

Struggling to pay mortgage

Mortgage: FHA mortgage

Complaint: I was approved for a loan modification with three trial payments. The fourth payment would be my 1st payment of modification which began in XXXX. My payment for XXXX I attempted to make XX/XX/XXXX, but my bank did not honor it so it was returned ; no fault of the mortgage company. I made another payment XXXX XXXX/XXXX which was accepted. I then receive a telephone call from representative XXXX on XX/XX/XXXX to advise that because of the bounced payment I would have to reapply for loan modification. I asked her why she said because the condition of the " trial '' is that I do not miss a payment. I then went on to confirm payment was made and honored with my bank and that as of XXXX I am no longer in " trial '' as now this is it. She said that there is nothing that can be done except me submitting my paperwork all over again to Loss Mitigation in order to prevent it from going to the attorney for foreclosure. I complied via fax and email, but then after reviewing my modification paperwork there was nothing in the correspondence to this effect. As my trial payment was over and now my initial payments began in XXXX so therefore, this should no apply to me. She then went to a " lead '' for confirmation and they confirmed that I was in " trial '' and could not miss a payment. I again became confused because my payment was honored and the representative who took payment failed to provide me with any of this information. Also, the XXXX payment portal is not working as it does not reflect the loan modification. I feel like they are doing everything in their powers to foreclose on my home, when I am doing everything necessary to stay in it. I am a single mother working extremely hard to provide for my family. Granted you are not responsible for the life situations that occur, but since then I have pulled myself up gained new employment and doing everything in my power to make sure I resolve this issue to ensure me or my family aren't faced with this dilemma again. This is extremely stressful, I am losing sleep over this and not eating.
Company Response: Closed with explanation

Timely Response

2019-06-30

District Heights, MD

Communication tactics

Debt collection: Mortgage debt

Used obscene, profane, or other abusive language
Company Response: Closed with explanation

Timely Response

2019-06-03

Lake Havasu City, AZ

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-05-22

Saint Charles, MD

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-05-20

Hillside, NJ

Trouble during payment process

Mortgage: FHA mortgage

Company Response: Closed with explanation

Timely Response

2019-05-15

PA

Applying for a mortgage or refinancing an existing mortgage

Mortgage: VA mortgage

Complaint: We applied for a VA construction loan through our broker ( XXXX XXXXg ) and AFR was the lender. We had an issue with AFR from the beginning when AFR refused to agree on a draw schedule for our builder. The builder says they have never in their 20 years of building experienced this so we naturally were upset and we sent a complaint to AFR regarding the issue asking them to please work with our builder. Then we were days away from closing and AFR decides that they have refused to accept our garage ( built new in 2011 ) as equity. Which the appraiser, broker, and builder all said that in their 20 years of service they had never seen a lender not accept a garage as equity. Also, in the VA Loan Handbook the lender is required to give value for buildings on the property. The lender was made aware of the VA policy but still refused to consider it as equity.
Company Response: Closed with explanation

Timely Response

2019-05-06

Lake Havasu City, AZ

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-04-11

PA

Trouble during payment process

Mortgage: FHA mortgage

Complaint: It is near to impossible to contact this company. When I call I am on hold upwards of an hour before I can even talk to a human being. They do not respond to my messages, nor do they return calls. This has caused issues with additional fees being assessed. Right now I have an issue that needs to be respond. My payment was not applied correctly this will cause me to miss a mortgage payment. I need attention, XXXX knows I am paying for it.
Company Response: Closed with explanation

Timely Response

2019-03-21

NY

Trouble during payment process

Mortgage: FHA mortgage

Complaint: This is my second complaint submitted in which my first complaint was regarding my mortgage servicer reporting my account late in XX/XX/XXXX in which I have not received written response from the servicer regarding resolution and my account is still reported late for XXXX. This current complaint is in regards to my escrow. AFR is in violation of regulatory servicing requirements as an escrow analysis can only be done once every 12 months. AFR completed an escrow analysis and mailed me a statement dated XX/XX/XXXX for analysis period of XXXX in which there was an escrow shortage of XXXX and my payment would be increasing XX/XX/XXXX {XXXX}. I now recieved another escrow analysis dated XX/XX/XXXX in which they claim I now have a shortage of {XXXX} for an analysis period of XXXX. I called them today XX/XX/XXXX and got a very rude unhelpful representative whom couldnt and wouldnt answer why another analysis was completed and questioned if I requested the XXXX statement multiple times as I told her I dont call in I just pay my payment every month I did not request anything from them. She ended my call with muttering an email address to send a request for research my escrow issues. I had a loan modification in XXXX in which ever since then my escrow has a shortage. I believe my modification was done incorrectly which is causing these escrow shortages to occur. I want a written response from the company regarding both complaints and resolution. Its unfortunate that I have to submit complaints with the bureau to attempt to get resolution.
Company Response: Closed with explanation

Timely Response

2019-03-04

WA

Trouble during payment process

Mortgage: Other type of mortgage

Complaint: On XX/XX/XXXX I received our new property tax stmt for XXXX. On that was the still due for the remaining XXXX property taxes. XXXX County Treasurer has added on more interest & penalties. Total still due for XXXX is XXXX We owe XXXX to date interest & penalties due is XXXX We are not liable to pay the interest & penalties. If this balance does not get paid XXXX County Treasurer will continue to add interest & penalties. XXXX has sent in payments in the amount of XXXX, but that will be returned until the correct amount is paid. It needs to be paid in full. I have called, sent in this complaint to cfpb and sent an email complaint to American Financial Res. This is worrisome and very stressful for me. I take pride in paying my bills on time and for the correct amount. Please get this taken care of, my next complaint will be to the attorney general & XXXX XXXX XXXX, Thank you
Company Response: Closed with explanation

Timely Response

2019-02-23

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-02-23

WA

Trouble during payment process

Mortgage: FHA mortgage

Complaint: CFPB Reference # XXXX New complaint with the same company. I have not heard back from AFR/XXXX. Now they have just sent us a new disclosure statement, it is incorrect. Because of their error they are expecting us to pay almost one hundred dollars more added to our monthly payment because of shortage. I would think that they could not do anything with our account until this is correct. I have not heard anything back from them, I have called, written, emailed. Attached is my balance sheet of our escrow account. I would really like to get this taken care of. Thank you, XXXX XXXX Loan # XXXX XXXX XXXX XXXX, XXXX, WA XXXX
Company Response: Closed with explanation

Timely Response

2019-02-09

Gretna, LA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-01-09

WA

Trouble during payment process

Mortgage: FHA mortgage

Complaint: Past Story : We get a discount on our property taxes. Each year we go in for review. XX/XX/XXXX review showed we had to pay more, there was an adjustment for XX/XX/XXXX & XX/XX/XXXX. XXXX/XXXX # XXXX were sen adjustment bills. They were late in paying, interest & penalties were added, but they did make some payments. There was a balance due by XX/XX/XXXX or more interest & penalties would be added, as of XX/XX/XXXX that balance has not been paid. Our prop tax account reads in big red letters : DELINQUENT STATUS. I have contacted them by phone & email several times. They told me my taxes would be paid when due, I told them they are past due, they would not give me a date when they would be paid. For me not to worry I would not be responsible for any of those interest & penalties. So far the payments made include interest & penalties taken out of my escrow account. XXXX XXXX at XXXX Co Assessors Office has called them and sent paperwork trying to get payment. There are 2 attachments. I have not checked out credit report, this better not be on there as delinquent. I also want to add that they are late, many times, paying our homeowners insurance which is thru Foremost.
Company Response: Closed with explanation

Timely Response

2018-12-03

Nashville, TN

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: I attempted to pay my mortgage ( as always ) on or before the first business day of the month via the XXXX website. When I was not able to do so, I called. They informed me that my loan servicing ( no word on whether the loan itself ) was transferred to XXXX XXXX. The problem is, they did not provide adequate notice. The representative said they mailed the notice on XXXX the XXXX. The effective date of the transfer is XX/XX/2018. Even if applying the " Mailbox Rule '', that does not provide 15 days notice. Also note, that they never provided email or other electronic notices.
Company Response: Closed with explanation

Timely Response

2018-10-18

FL

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Per the information on PMI posted to there web site provided at attachment, it states that the PMI requirement for the mortgage will be automatically canceled when the loan to value ( LTV ) of the mortgage reaches 78 % of the original property value of the mortgage. This occurred after the XXXX XX/XX/2018 mortgage payment. I called the lender to discuss this approximately on XXXX XX/XX/2018 and was informed they would look at it. I was again charged PMI in the XXXX payment so I called the lender again around XXXX XX/XX/2018, to advise that the PMI payment was not in accordance with the information posted on their website and why were they still collecting it. Again I was informed they were reviewing it and would advise me shortly. On XXXX XX/XX/2018, I received the letter from the lender provided at attachment advising me that I would have to pay {$100.00} for a Brokers Price Opinion ( BPO ) on the property before they would considering cancelling the PMI requirement. This new BPO requirement is not addressed anywhere in the lender 's PMI information and is in direct conflict with the information that is posted.
Company Response: Closed with explanation

Timely Response

2018-09-04

Norman Park, GA

Trouble during payment process

Mortgage: FHA mortgage

Complaint: This is my 2nd complaint against American Financial Resources , Inc. within 4 months for the same problem. I received a notice in XXXX stating my escrow account was low and to either pay a full payment of {$750.00} to escrow or it would be added to my payment amount. I paid the full amount before the deadline. I got a new insurance policy at the end of XXXX, same terms with a cheaper premium. Sent in all of the required information within 2 days. Paying the full escrow amount and changing our insurance carrier reduced my overall payment amount. AFR did not make any changes to my account and I was forced to pay what they said so that I would not have any late payments on my credit report or even risk dealing with a foreclosure notice. After everything was finally updated in XXXX, AFR has still neglected to reimburse the overages paid. My last complaint stated to reimburse the overages of {$120.00} and pay directly to principal. I sent an email to customer service on XX/XX/XXXX and there has been no response. Nothing has been done.I am paying AFR more money by paying interest on a mortgage balance that is incorrect. Since it seems impossible for AFR to transfer the extra money to my principal balance, I want the overage sent to me either in a check or direct deposited back into the account in which it came from. If this is not done in a timely manner, I will be forced to hire an attorney and sue for damages. I have experienced nothing but problems since I was approved to buy my house. The application process is a drawn out joke and financing through American Financial Resources , Inc. is just the same. Customer Service Reps do not know what is going on but they will argue with you to the death. I had one lady argue with me to the point that she was actually screaming at me.
Company Response: Closed with explanation

Timely Response

2018-08-21

Niantic, CT

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-07-25

Saint Petersburg, FL

Trouble during payment process

Mortgage: Other type of mortgage

Company Response: Closed with explanation

Timely Response

2018-07-22

Hurst, TX

Trouble during payment process

Mortgage: FHA mortgage

Company Response: Closed with explanation

Timely Response

2018-06-20

Gretna, LA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-05-22

NY

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: I am writing in an effort to get my mortgage servicer, and by extention, my PMI provider, to automatically cancel my monthly mortgage insurance premiums. I have been in touch with AFR-American Financial Resources on many occasions over the past several months. Initially to request that my PMI be cancelled once my LTV reached 80 % and then, because they were making my life so difficult, I decided to wait until it would be automatically terminated. Or so I thought. My understanding is that, as long as my account is current, and my payment history has been clean, and my Loan to Value ( LTV ) breaches 78 %, the PMI is required to be terminated immediately. I called at the point that it reached 78 % and was told many reasons why it was not applicable. One representative told me that I had not reached the chronological midpoint of my amortization schedule, and that until that happened I would not have the PMI automatically cancelled. Another told me that they received some indication that the value of my home had decreased in value from the point I had taken the mortgage, and for that reason I would not be able to cancel or terminate the PMI. My understanding of the Federal Law is that once I breach 78 % LTV ( it is now 75 % ) they are obligated to terminate immediately. I do not believe either of those reasons are relevant in this case. Those are items that come into play if I am requesting that my PMI be cancelled ( at LTV 80 % ) My fear is that this is not an isolated incident, and that many other folks are having the same experience, perhaps less able to pay this unfair and added charge, Even if it turns out to be 1, 2, or 3 additional payments past the 78 % LTV mark, if you consider the number of potentially affected mortgages, we could be talking about tens of millions of dollars in unwarranted payments. Thus the size of this potential windfall might be a motivating factor in delaying the required termination process, which of course sets up the possibility of a class action offense. There is much more detail that I could provide, and several unkept promises from the service desk during this unending process, but the information mentioned above are the key facts.
Company Response: Closed with explanation

Timely Response

2018-05-15

Sylvester, GA

Trouble during payment process

Mortgage: FHA mortgage

Company Response: Closed with explanation

Untimely Response

2018-04-08

Val Verde, TX

Trouble during payment process

Mortgage: FHA mortgage

Complaint: This began in XX/XX/XXXX. My monthly payment has changed so many times I can't keep up. American Financial Resources and/or XXXX XXXX has not calculated my escrow correctly from the beginning of the mortgage process in XX/XX/XXXX. They tried to do a correction in XX/XX/XXXX and pulled about {$500.00} additional out of my account without notice! I stopped auto " pull '' from my account and set it to auto " push '' for the same amount of my previous payments. I tried to contact someone to find out what happened but the phone numbers they provide give the customer the run around in an effort to make you give up and just pay what they say to pay!!! The next month the push started and they did not get what they wanted and then the threatening phone calls started and well as the collection service letters!! When I finally got in touch with someone, which is extremely difficult with this company, they stated that they had mailed me a statement in XX/XX/XXXX, but I never received the notice and after about 6 weeks of calling and trying to figure this out, a representative told me that it was mailed out to my former address ( an address I hadn't lived at for 2 1/2 years )! I find it suspicious that they can mail me a debt collection notice to my current address, but sent this change notice to a previous address. In an effort to pay down the escrow deficit, I made 3 additional payments to be applied to the escrow account. They applied it to the principle and sent collection notices to me for unpaid mortgage payments for the next 3+ months. It took nearly 6 months of calling weekly if not more to get this straightened out and I never talked to the same person twice! I couldn't get answers and the reps that I spoke to had only partial information from previous calls. I had to go through the whole series of events with each representative. We finally ironed out the issue and they reversed the additional payments and applied them correctly to the escrow, fixing the problem, but they did keep the late fees that were NOT my fault!! Everything has been fine for about 6 months. But now they are saying that my payment is going down ... .how is this possible when I just received the tax appraisal for XXXX and my homes value has gone up and so has my property tax rate?? Again, I did not receive any notice prior to my normal monthly statement. Normally, one wouldn't complain about a payment going down, but I know that this company does not know how to manage escrow accounts and they will blame me for any mistakes they have made and months of threats and phone call run-arounds are just ahead. Not to mention the late fees they will charge my account and NOT retract after they acknowledge a mistake was made. I understand that payments will change slightly when property tax rates change and home 's appraised values change. What I have experience was a $ XXXX/month change with very little tax and appraised value changing. This has been ridiculous! I believe they tried to take advantage of a single woman. And now I am back to trying to contact someone about this recent change using their web site contact numbers. Good luck with that. Here we go again!! This is an unacceptable business practices! As a XXXX XXXX XXXX how can I promote lenders that are doing this to their customers? American Financial Resources, who will not talk with their customers, needs to insure correct calculations are made AND reevaluate their communication processes with their account holders. Not being able to talk to anyone who cares within that organization is frustrating. They redirect you to XXXX XXXX which is filled with misinformed and unprofessional representatives that place any concern squarely on the customer.
Company Response: Closed with explanation

Timely Response