BBB Logo

Better Business Bureau ®
Start With Trust®
In Eastern Massachusetts, Maine, Rhode Island and Vermont

BBB Business Review

Are you the Owner of this Business? ×
BBB® Accredited Business Seal

Are You the Business Owner of Embrace Home Loans, Inc.?

If yes, click here to login.

Are you...?

BBB Accredited Business since

Embrace Home Loans, Inc.

Find a Location

Phone: (401) 846-3100 View Additional Phone Numbers 25 Enterprise Ctr, Middletown, RI 02842 http://www.embracehomeloans.com

Print

BBB Business Reviews may not be reproduced for sales or promotional purposes.

Description

Advanced Financial Services, Inc, (AFS) has changed its name to Embrace Home Loans, Inc. as of October 26, 2009. After more than 25 years of doing business as AFS, the business has decided upon this name change to more accurately reflect the products and services they offer. Embrace Home Loans, Inc. is a retail mortgage lender providing residential mortgage loans directly to consumers.

BBB Accreditation

A BBB Accredited Business since

BBB has determined that Embrace Home Loans, 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.

Find a Location

Reason for Rating

BBB rating is based on 16 factors. Get the details about the factors considered.

Factors that raised the rating for Embrace Home Loans, Inc. include:

  • Length of time business has been operating.
  • Complaint volume filed with BBB for business of this size.
  • Response to 200 complaint(s) filed against business.
  • Resolution of complaint(s) filed against business.
  • BBB has sufficient background information on this business.

Customer Reviews  are not used in the calculation of the BBB Rating.

Industry Ratings Comparison | Chart


Customer Complaints Summary Read complaint details

200 complaints closed with BBB in last 3 years | 43 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 70
Billing/Collection Issues 7
Delivery Issues 10
Guarantee/Warranty Issues 0
Problems with Product/Service 113
Total Closed Complaints 200

Customer Reviews Summary Read customer reviews

122 Customer Reviews on Embrace Home Loans, Inc.
Customer Experience Total Customer Reviews
Positive Experience 31
Neutral Experience 13
Negative Experience 78
Total Customer Reviews 122

Additional Information

top
BBB file opened: October 01, 1983 Business started: 05/01/1983 in RI Business incorporated: 05/13/1983 in RI
Licensing

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

These agencies may include:

Rhode Island Department of Business Regulation
1511 Pontiac Avenue , Cranston RI 02920
http://www.dbr.state.ri.us/divisions/banking/
Phone Number: 401-462-9503
Fax Number: 401-462-9602
BankInquiry@dbr.state.ri.us
The license number is 87000213LL.

Rhode Island Department of Business Regulation
1511 Pontiac Avenue , Cranston RI 02920
http://www.dbr.state.ri.us/divisions/banking/
Phone Number: 401-462-9503
Fax Number: 401-462-9602
BankInquiry@dbr.state.ri.us
The license number is 90000214LB.

Type of Entity

Corporation

Business Management
Mr. Peter Microulis, VP Quality Assurance Mr. Kurt Noyce, President
Contact Information
Principal: Mr. Peter Microulis, VP Quality Assurance
Principal: Mr. Kurt Noyce, President
Number of Employees

367

Business Category

MORTGAGES-LENDER Mortgage and Nonmortgage Loan Brokers (NAICS: 522310)

Refund and Exchange Policy
After APR disclosures are provided to the consumer, AFS may require that an appraisal be performed to determine a market value for the subject property, and a fee will be collected from the consumer for that service.  The fee, which is then paid to a third party appraiser, will not be refundable after the appraisal services have been performed.
Alternate Business Names
Advanced Financial Services AFS Financial
Industry Tips
Adjustable Rate Mortgages Advance Fee Mortgage and Loan Brokers Home Equity Loans Mortgages - Broker Read Before You Sign
X
Industry Ratings Comparison Chart X
Same Relative Size   All Businesses
The information in the chart below represents an industry ratings comparison of businesses which are of the same relative size or for all businesses (see toggle). This is based on BBB's database of businesses located in Eastern Massachusetts, Maine, Rhode Island and Vermont. Businesses may engage in more than one type of business.
X

What is a BBB Business Review?

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.

X

About BBB Business Review Content & Services:

Some Better Business Bureaus offer additional content & services in BBB Business Reviews.
The additional content & services are typically regional in nature or, in some cases, a new product or service that is being tested prior to a more general release.
Not all enhanced content & services are available at all Better Business Bureaus.

Professional AffiliationsX
X

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:

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

X

BBB Complaint Process

Your complaint will be forwarded to the business within two business days. The business 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 business's response when we receive it (or notified that we received no response). Complaints are usually closed within 30 business days.

X

Industry Tips

X

What is BBB Advertising Review?

BBB promotes truth in advertising by contacting advertisers whose claims conflict with the BBB Code of Advertising. These claims come to our attention from our internal review of advertising, consumer complaints and competitor challenges. BBB asks advertisers to prove their claims, change ads to make offers more clear to consumers, and remove misleading or deceptive statements.

X

What government actions does BBB report on?

BBB reports on known significant government actions involving business' marketplace conduct.

X

Thank you for your feedback!

Help us improve by taking our survey.

X

BBB Reporting Policy

As a matter of policy, BBB does not endorse any product, service or business.

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.

X

Additional Phone Numbers

Find a LocationX

  Change Location
Show Only Accredited Locations