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BBB Accreditation

A BBB Accredited Business since

BBB has determined that Asset Financial Center, 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 the rating for Asset Financial Center, Inc. include:

  • Length of time business has been operating
  • Complaint volume filed with BBB for business of this size
  • Response to 3 complaint(s) filed against business
  • Resolution of complaint(s) filed against business


Customer Complaints Summary Read complaint details

3 complaints closed with BBB in last 3 years | 0 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 1
Billing/Collection Issues 0
Delivery Issues 0
Guarantee/Warranty Issues 0
Problems with Product/Service 2
Total Closed Complaints 3

Customer Reviews Summary Read customer reviews

0 Customer Reviews on Asset Financial Center, Inc.
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 0
Total Customer Reviews 0

Additional Information

BBB file opened: April 03, 2009 Business started: 12/24/2008 Business started locally: 12/24/2008 Business incorporated 12/24/2008 in CA
Licensing, Bonding or Registration

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:

CA Bureau of Real Estate
1651 Exposition Blvd., Sacramento CA 95815
http://www.bre.ca.gov
Phone Number: (877) 373-4542
Fax Number: (916) 263-8943
The number is 01858191.

Type of Entity

Corporation

Business Management
Mr. Amin Ghomeshi, Managing Director
Contact Information
Principal: Mr. Amin Ghomeshi, Managing Director
Business Category

Mortgage Brokers Real Estate


Additional Locations

X

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.

Complaint Detail(s)

7/16/2015 Problems with Product/Service | Read Complaint Details
X

Additional Notes

Complaint: This company...(Asset Financial Center, Inc.), aka. AFC360 Mortgage Center, ran my credit (hard copy) on June 4, 2015; without my express &/or direct written authorization/consent.(documented)This illegal action and a violation of my personal data was confirmed by phone conversations on June 8th, 2015, to both the salesperson (***** *********)... who ran my credit and her employer/President of the company (**** ****** ********).I have confirmed this violation with ******** ****** ****** and have obtained a copy of my credit report showing the illegal act of the inquiry by Asset Financial Center accessed through ***** ******** ****************).The employee, ***** *., deceptively persuaded my estranged wife to divulge my personal information/profile to her (i.e.: full name, D.O.B., SSN, CDL, address, employment, etc.) with claims that it would be "legally" okay to do so and that it falls under the justification as being part of the "community property state" clause or laws; without any adverse repercussions.However, the true fact is, "community property state" clause or laws does not encompass or pertains to private information or credit, as well as, use of. In fact, the privacy of one's own identity and personal credit info. stands upon its own merit and individuality or entity.Therefore, (as recommended and if applicable jurisdiction applies) I have begun the process of also notifying the following agencies &/or State/Federal authorities to filing a complaint against said company and individuals for identity theft: California Bureau of Real Estate, Federal Trade Commission (FTC), FHA (HUD), Consumer Financial Protection (CFPB), Sacramento Police Dept. (SPD), ********, *******, **********, FBI, California State Attorney's Office.This intentional negligence and intrusion to obtain, critique and evaluate my personal information is a direct violation of FCRA (FTC) 1681b law.*THE ABOVE CLAIM/ACCUSATION IS VERIFIABLE AND DOCUMENT SUPPORTED.

Desired Settlement: For BBB to re-evaluate and assess your endorsement or grade of Asset Financial Center (aka: AFC360 Mortgage Center).Personally, I value the integrity of what BBB stands for to allowing companies, business entities, and government agencies they evaluate and permit the use of the BBB symbol alongside their own business names. With that being said, I hope you will now do the right thing with how the mentioned company of my complaint has NOT met the expectations or knowingly done the right thing.

Business Response: BBB Response ********

7/8/15

On 6/8/15 Mr. ***** contacted our office to file a complaint
about this matter. I spoke to him as he shared his complaint and I offered him
a solution of reversing the credit inquiry. He denied that resolution and
indicated the he just wanted to file the complaint and didn't seek any
resolution from us.

 

As part of our internal research of this matter the
following were discovered:

Mr. & Mrs. *****  met with a representative of our company to
view a home for sale. They indicated their interest in moving forward with the
purchase transaction. The following day, Mrs. ***** came to our office with all
of the pertinent information to apply for financing. During this process, she
disclosed the necessary information for the loan. Later we received
communication from Mr. ***** indicating that his wife had acted without his consent.


Asset Financial Center nor its representatives
have had any ill or fraudulent intent in this transaction. If Mr. ***** would
like the inquiry reversed we would be happy to complete the process with his
cooperation.    

10/28/2013 Advertising/Sales Issues | Read Complaint Details
X

Additional Notes

Complaint: Operating under false license and cannot deliver. Further, when couldn't seliver falsified my document. This mortgage company offered me a refinance and QUALIFIED ME. I REPEAT; QUALIFIED ME. then, when they made amistake and couldn't deliver the loan promised, suddenly ran out of excuses. Mo problem, I understand. Tis all took palce in MAY! It is now September. Yesterday, I receive a letter that they have couldn't credit qualify me. This is a lie and they are clearly trying to cover their tracks.

Desired Settlement: refi at the original offer. Not my problem that the market has changed.

Business Response: Initial Business Response
Response to CASE ID: XXXXXXXX The client's application for refinance was originally approved with conditions to fund. The conditions to fund were not able to be met and the loan application was withdrawn. A notice from our lending affiliate was issued to the client advising that the application was withdrawn. This decision does not negatively effect the client's credit profile or ability to apply for future financing. During the time period between the initial issuance of loan disclosures and locking in the terms of the loan the interest rate market worsened. The terms available to lock had become inferior to the initial terms, at that time the client refused the new available terms. Efforts were made to offer the client other available programs, although the client did not find them acceptable. Unfortunately the interest rate market continued to worsen to the degree that the qualification terms of the refinance could no longer be met. The client's desired resolution is not possible due to major deterioration in the interest rate market.

Final Consumer Response
(The consumer indicated he/she DID NOT accept the response from the business.) This is false explanation; specifically the term, "conditions were not able to be met." One, I absolutely could meet the conditions. What went wrong was that the loan officer failed to LOCK my loan after HE made a mistake on my paperwork causing a delay which in turn caused me to miss the optimum rate offered. Two, the refernece made to "application withdrawn," is a farce. 4 months later, I received a letter fromtheir office stating that I was not credit qualified. Even that does not match the answer they are supplying above. This is a farce of an answer and an outright sham of a business operation. Due to poor performance, I was not only slighted out of an excellent opportunity, but not exists a false document; created to hide their poor practice. I demand that their review the entire issue and resolve this properly. Failure to lock the loan after a paperwork error is the issue.

10/21/2013 Problems with Product/Service | Read Complaint Details
X

Additional Notes

Complaint: Began refinance May 29, 2013, not complete as of 9/22/2013. Agent has broken numerous commitments, missed deadlines and has mislead me. Agent was recommended to me by a local realtor to help me refinance my house. Contacted him and had a lengthy discussion over the phone and committed to working with him to: 1. Get my house title put in my name since I divorced in 2011 2. Refinance my home while the interest rates were in the 3% range 3. Take out between $5K and $8K to pay off some debt. I was assured by the agent that all of these were doable and that the transaction would be complete by July 1. I got all the paperwork and financial details requested personally delivered to his office on Tuesday, June 4. From there, was assured things were progressing. Was told via email that the "grant deed" was fed exed to my ex husband on June 10. Heard nothing about the loan again until I followed up with the agent. I have been told on numerous occasions that the paperwork was sent, thing were progressing. As of August 8, see this email in response to a phone call asking for an update: Hey ****- I apologize for the lack of communication there! I am definitely moving forward, especially now that the rates have come back down a bit (because they spiked up there in July). So, I am re-sending the Fed Ex to ****** tonight, so I will have a Fed Ex tracking number for you, so we can let him know exactly when it will arrive. Once he signs it and has it notarized (and sends it back to us), I will get your loan Approved ASAP, and then we can order the appraisal on the property. With property values coming back a bit, it will help the terms of the loan as well. So, I am sorry there was quite a bit of stagnant time, but we are going to be moving forward pretty quickly now. I am planning on having your loan completed in the next 3 weeks or so, how does that sound? Once your loan is approved, I will have a short list of updated documentation that the lender will require (updated bank statements, paystubs, etc), and once we send those in, we will be ready to sign your loan! I will touch base with you in the morning with that Fed Ex tracking number, so you can let ****** know when the package will be there, and I left specific instructions for him as well along with a pre-addressed/pre-paid envelope, so he simply has to drop it at a Fed Ex Location/Box to send it back! Thanks, That was never done, I asked for an update on 8/27/2013, got more run around, sent a note on Monday, 9/16/2013 telling him that I would like to end the transaction and this is what I got: ****- The rates jumped exponentially in June, but they're looking like they're coming down quite a bit. As I mentioned last week, we are now approved and moving, so if you would like me to send your documents back, I will, but we are now past the difficult/lengthy part of the process. Honestly, when I was asked to initially wait due to ******, I then put the file aside. When we went to pick it back up, the rates were quite different as they spiked hard in late June/July. They held for a month or so, and now they're as low as they've been in a few months. So, I am sorry there was a lengthy delay, it's not like my process actually takes longer than 25-30 days, it was due to outside forces. If you are beyond frustrated, I understand, I should've communicated with you, but I didn't know about your wants/needs until last week. So, I can assure you I will get your rate as low as the market will allow, so lets finish this out together and I will provide you daily contact now that we would be completing the appraisal this week (which is $435 and I will pay for it, due to the delay). Please let me know if that is okay with you. Told him OK, that I'd give him one more chance because I don't have time to start again and to day, none of the commitments or promises have been kept including daily contact, the appraisal or the paperwork going to my ex husband. This delay has cause me to lost money due to increased interest rates as well as 4 months of the higher mortgage.

Desired Settlement: An apology. I simply want to make sure that the public knows about this and also, make sure that all of their credentials are above board. These people have had my personal financial data since June and I a truly hoping that this is a legitimate business and not a scam. They were recommended to me by one of my top clients and a realtor here in Roseville. This is a competitive industry and it's important for consumers to know who to trust. It is shocking to me that in this environment, a company can stay in business with representation like this.

Business Response: Initial Business Response
Response to BBB Case XXXXXXXX I spoke to the client in length about her experience with our firm and realized that the transaction had become stagnant due to a lack of communication. The client became concerned that she was dealing with an unlicensed representative and entity. However, this was due to an outdated company phone number on the web. Indicated to the client that the company is properly licensed as well as the individual assisting her. The client thanked me for the follow up and indicated that she did not want to further pursue her complaint.

Final Consumer Response
(The consumer indicated he/she DID NOT accept the response from the business.) The lack of communication was on the part of the company representative, not the client. The client made numerous attempts both by phone and email to move the process along and the company representative was either unresponsive or made promises that he did not keep as the email trail indicates. The concern about the company's standing was not a part of the issue until the day after this complaint was filed.


Customer Review(s)

The customer review(s) below are un-filtered. These positive and negative reviews are not used in the calculation of the BBB Rating. If you wish to file a complaint and request a resolution to your issue please click here. This customer review section is not BBBs complaint resolution system. Customer Reviews are the subjective opinion of the individual who posted the review and not of Better Business Bureau. A customer review is not posted on a business if a BBB complaint on the same issue(s) is also filed. BBB cannot guarantee the accuracy of any customer review and is not responsible for the content of any customer review. Public comments are not customer reviews.

Customer Reviews Summary

0 Customer Reviews on Asset Financial Center, Inc.
Positive Experience (0 reviews)
Neutral Experience (0 reviews)
Negative Experience (0 reviews)