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Find a Location

American Escrow Company has 1 locations, listed below.

*This company may be headquartered in or have additional locations in another country. Please click on the country abbreviation in the search box below to change to a different country location.

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    Business ProfileforAmerican Escrow Company

    Escrow Services
    BBB accredited business

    At-a-glance

    Customer Reviews

    3.73/5stars

    Average of 11 Customer Reviews

    Customer Complaints

    2 complaints closed in last 3 years

    0 complaints closed in last 12 months

    BBB Rating & Accreditation

    Accredited Since: 11/14/1990

    Years in Business: 41

    Customer Reviews are not used in the calculation of BBB Rating

    Overview of BBB Rating

    Related Categories

    Overview

    RE Closings and Document Preparation Services

    Business Details

    Location of This Business
    2717 San Mateo Blvd NE, Albuquerque, NM 87110-3143
    BBB File Opened:
    10/29/1990
    Years in Business:
    41
    Business Started:
    8/1/1982
    Business Incorporated:
    8/11/1982
    Accredited Since:
    11/14/1990
    Licensing Information:
    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.
    BBB records show a license number of 00017 for this business, issued by New Mexico Financial Institutions Division. The expiration date of this license is 7/31/2024.

    These agencies may include:

    New Mexico Financial Institutions Division

    2550 Cerrillos Rd 3rd Floor

    Santa Fe NM 87505

    (505) 476-4885

    Fax: (505) 4764670

    http://www.rld.state.nm.us/financialinstitutions/

    Type of Entity:
    Corporation
    Hours of Operation

    Primary

    M:
    8:00 AM - 4:00 PM
    T:
    8:00 AM - 4:00 PM
    W:
    8:00 AM - 4:00 PM
    Th:
    8:00 AM - 4:00 PM
    F:
    8:00 AM - 4:00 PM
    Sa:
    Closed
    Su:
    Closed
    Business Management
    • Mr. Keith Mallory, President
    Contact Information

    Principal

    • Mr. Keith Mallory, President

    Customer Contact

    • Mr. Keith Mallory, President
    Additional Contact Information

    Fax Numbers

    • (505) 883-3891
      Primary Fax

    Email Addresses

    Customer Complaints

    2 Customer Complaints

    Need to file a complaint? BBB is here to help. We'll guide you through the process. How BBB Processes Complaints and Reviews

    File a Complaint

    Most Recent Customer Complaint

    03/03/2023

    Complaint Type:
    Service or Repair Issues
    Status:
    Answered
    We sold a house in 2019 and financed the sale. Our mortgage was paid off in Sept. 2022. In Sept. the buyer started making $20,000 payments toward principal. American Escrow has never provided any statements regarding the remaining principal balance. We had a conversation on 2/24/23 regarding the status of the money being held on our behalf. We were told to expect a phone call on 3/1/23 that would provide all the details we requested. We believe American Escrow is holding between $60,000 and $70,000 of money that belongs to the sellers of the property. The sellers are holding approximately $4,800 of an escrow refund that belongs to the buyer. American Escrow has never told us how much money has been applied to the principal balance and how much money is owed to us. We have received nothing but excuses as to why they have refused to disburse money that belongs to us(the sellers of the property). There has been a failure to communicate, a failure to disclose, and a failure to disburse. We believe any past payments made after our loan was paid off that were designated as principal should immediately be disbursed to the seller of the property.
    Read More

    Customer Reviews

    11 Customer Reviews

    What do you think? Share your review.

    How BBB Processes Complaints and Reviews

    Start a Review

    Most Recent Customer Review

    Sd M

    1 star

    11/22/2023

    Very difficult to deal with! Not professional. They might be the only escrow company in ***********, but not in **********. Save yourself the headaches and go somewhere else. The couple who purchased our place complained about AE at the beginning. Telling us they were unfriendly and would not clarify things. I didn't know what to think until I notices more and more. They are just a place where the money goes in and out of, don't expect anything else. They don't information you about anything, you must ask, and ask and ask. Then they response as if you are some kind of irritation. Started out working with ****, then **** and ******. Lots of confusion about what was required when it came to defaulting our buyers who had paid in months. Took two months before a demand letter went out (we paid extra for this service) Then told we would have to send another demand letter or maybe a default could go out now. Different story depending upon who I spoke with. Finally 5 months (actually on the 23th of that month) without any payment it was agreed that a Affidavit of ******* could be sent. OH WAIT (again) we have to do a title search first. First we hear of this, but we agreed and paid for one. Turns out AE lawyer "has a policy" that a search must be done first. Ok, fine. Over two weeks later, was Told by ***** everything was clear on the title and they would send over the document for us to get notarized and send back. (item 5 d of our contract) However, along with the Affidavit was a disclaimer says ** had told us to get *************** and we had declined. They had not, they had said a title search. (title search cost *******, insurance cost $1,500 to *****). "It is our policy1" No one seemed to understand I was mad about the fact they didn't mention this weeks ago! They acted like I was the problem! Get your own Lawyer to write up the Affidavit. Which we did. But the amount of delays means it is the middle of Nov. Now. Very unprofessional!

    American Escrow Company Response

    11/27/2023

    Hello,Thank you for reaching out to us about your negative experience. We understand that dealing with a delinquent buyer can be extremely frustrating.Defaulting on a *********** Contract is a delicate matter, and we always recommend you consult your attorney. We also always recommend purchasing title insurance coverage for any transfer of title. Again, we understand the headache a delinquent purchaser can cause, and we will work on communicating how American Escrow can and can't help more clearly with our future customers. If you want to discuss this further, my name is *************************, the owner of American Escrow, and I would happily take your call or schedule an in-office meeting.

    Local BBB

    BBB Serving New Mexico and Southwest Colorado

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