BBB Business Review

BBB Accredited Business since 01/25/2006

American Equity Funding, Inc.

Phone: (479) 632-0851Fax: (479) 632-0668View Additional Phone Numbers7005 Alma Highway, Van BurenAR 72956

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BBB Accreditation

A BBB Accredited Business since 01/25/2006

BBB has determined that American Equity Funding, Inc. meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.

Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Factors that raised American Equity Funding, Inc.'s rating include:

  • Length of time business has been operating.
  • Complaint volume filed with BBB for business of this size.
  • Response to 2 complaint(s) filed against business.
  • Resolution of complaint(s) filed against business.

Customer Complaints SummaryRead complaint details

2 complaints closed with BBB in last 3 years | 1 closed in last 12 months
Complaint TypeTotal Closed Complaints
Billing / Collection Issues1
Problems with Product / Service1
Advertising / Sales Issues0
Delivery Issues0
Guarantee / Warranty Issues0
Total Closed Complaints 2

Customer Reviews Summary Read customer reviews

0 Customer Reviews Customer Reviews on American Equity Funding, Inc.

Customer Experience Total Customer Reviews
Positive Experience
Neutral Experience
Negative Experience
Total Customer Reviews 0 Customer Reviews

Complaint Breakdown by ResolutionAbout Complaint Details

Complaint Resolution Log (2)BBB Closure Definitions
05/05/2014Problems with Product / Service | Read Complaint Details
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Complaint
I purchased 2 properties in **** last year with the assurance that a $500 recording fee was to cover the recording of a quit claim deed in my name.
AEF has failed to file the quit claim deeds on 2 **** properties as promised. The agreement states this would be done in 90 days. It is now 9 months.

Desired Settlement
I want the company to file the quit claim deeds with the appropriate Ohio recorders, as promised.Or, please return ALL funds in full immediately.

Business Response
Contact Name and Title: *******************
Contact Phone: ************
Contact Email: ******************************
Our buyer purchased the two properties at an online auction from us. For one of those properties we prepared the deed and other documents required for recording and sent them to a document services provider to handle the recording, as the property resided in a state and county that has strict guidelines and regulations for recording deeds that we were not familiar with. We contracted their services to ensure a thorough and expeditious recording. However, this company failed to record it in a timely manner and stopped responding to inquiries as to the deeds status. From that point it fell through the cracks and was forgotten. That is our fault and we take responsibility for it. We have created a new deed and contacted a title company local in the county where the deed needs to be recorded and they have agreed to walk in the deed for us, as deeds are not allowed to be mailed in for recording. That should be done by the weeks end.

The other property, there was some chain of title problems that needed clearing up from our purchase of the property. It took longer than expected but has been cleared up. The deed was sent for recording on April 3rd. We have not received the recorded deed back from the county yet.

07/16/2014Billing / Collection Issues

Industry Comparison| Chart

Mortgage Brokers

Additional Information

top
BBB file opened: 07/27/1990Business started: 01/01/1987
Licensing, Bonding or Registration

This company is in an industry that may require licensing, bonding or registration in order to lawfully do business. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

These agencies may include:

Arkansas Securities Department
201 East Markham, Suite 300
Little Rock, AR72201
(501) 324-9260
http://www.securities.arkansas.gov/

Type of Entity

Corporation

Incorporated: November 1992, AR

Business Management
Principal: Ms. Joyce Duignan (Vice President)
Contact Information
Mr. Steve Whitlock (President)
Number of Employees

5

Business Category

Mortgage Brokers

Products & Services

This company is a mortgage company that purchases privately held mortgages.

Map & Directions

Map & Directions

Address for American Equity Funding, Inc.

7005 Alma Highway

Van Buren, AR 72956

To | From

LocationsX

1 Locations

Industry Comparison ChartX

The information in the table below represents an industry comparison of businesses which are of the same relative size. This is based on BBB's database of businesses located in Arkansas. Businesses may engage in more than one type of business. The percent of time the business engages in a type of business is not accounted for. There is no known industry standard for the number of complaints a business can expect. The volume of business and number of transactions may have a bearing on the number of complaints received by BBB.

*American Equity Funding, Inc. is in this range.

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Types of Complaints Handled by BBB

BBB handles the following types of complaints between businesses and their customers so long as they are not, or have not been, litigated:

  • Advertising or Sales
  • Billing or Collection
  • Problems with Products or Services
  • Delivery
  • Guarantee or Warranty

We do not handle workplace disputes, discrimination claims or claims about the quality of health or legal services.

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Additional Phone Numbers

  • (800) 874-2389
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BBB Complaint Process

Your complaint will be forwarded to the company within two business days. The company will be asked to respond within 14 days, and if a response is not received, a second request will be made. You will be notified of the company's response when we receive it (or notified that we received no response). Complaints are usually closed within 30 business days.

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BBB began including text of consumer complaints and business responses in BBB Business Reviews on July 1, 2013 for complaints filed on that date and thereafter. This includes all complaints that meet our reporting guidelines and that are filed electronically. We also report on the resolution of the complaint, as determined by BBB.

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Industry Tips for Mortgage Brokers

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What is BBB Advertising Review?

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What government actions does BBB report on?

BBB reports on known government actions that are relevant to the business's marketplace dealings with the public.

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BBB Customer Review Rating plus BBB Rating Overview


BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.
Details

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.

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BBB Business Reviews generally cover a three-year reporting period. BBB Business Reviews are subject to change at any time.

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We offer free reviews on businesses that include background, licensing, consumer experience and other information such as governmental actions that is known to BBB. These reviews are provided for businesses that are BBB accredited and also for businesses that are not BBB accredited.

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BBB Reporting Policy

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BBB Business Reviews are provided solely to assist you in exercising your own best judgment. Information in this BBB Business Review is believed reliable but not guaranteed as to accuracy.

BBB Business Reviews generally cover a three-year reporting period. BBB Business Reviews are subject to change at any time.