Complaints

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:07/24/2025

  Type:Service or Repair Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  We went through American Financing for a mortgage and were told our first payment would be in July. We closed around the end of May and a couple weeks after closing, we received an email stating that our mortgage was sold and our new first payment date wasn't until the 1st of August. That was the date we were planning on. On the 10th of July (5 days before we would be assessed a late payment) we get an email from American Financing stating that they have yet to receive a July payment from us. I email back and state that we were told the payment date was 8/1 and we never received anything from American Financing with instructions on where to even send payment. After going back and forth, we agree to make the July payment and were told that it was the only payment due to them and that every payment after that was due to the new mortgage company (***********). Today I just received a call from *********** stating that they have not received their payment for July. I told them that I did not owe them for July and that I already paid American Financing for the month of July. Now I am being threatened to have my credit ruined because of this and it is not my fault. This is all a lack of communication between American Financing and Cornerstone. I feel that I have been lied too and I feel that American Financing has stole from me.

  

  Business Response

  Date: 08/01/2025

  When this loan was being transferred to ***********, *********** uploaded to their system with the wrong date (July instead of August). As a result, *********** made the borrowers think the payment they made to American Financing for July was not received or applied to their account. ******************************************* quickly communicated with Cornerstone to be sure there was no negative impact to the borrower either financially or to their credit. American Financing resolved the issue with Cornerstone and notified the borrower of what occured and what to expect moving forward. The borrowers received another call in error which American Financing also quickly remedied. A Sales Manager stayed in contact with the borrower and provided reassurance that there would not be any negative credit reporting nor any financial penalty to them and that American Financing has confirmed directly with Cornerstone the issue had been resolved.

  Customer Answer

  Date: 08/01/2025

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  **** ******

• Initial Complaint

  Date:05/09/2025

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  On 5/8/2025 I spoke with ***** *****. I was presented with a loan disclosure locking a 5.5% interest rate. I submitted and signed everything that locked in the rate and pricing. About an hour later I noticed some discrepancies in regards the VA funding fee not on the loan disclosures since this would be a VA ***** refinance. After I told ***** he said okay and that it would be corrected. About 2 hours later he tells me they will not do it even though he had said it was locked and good to go originally. Due to this I was under the impression of being good to go and made financial decisions based on this statement of fact. Now I am going back to lenders and see if I can continue with them even though I presented them the better financing option originally given to me by American Financing. These mistakes have real world consequences and you expect when told you are locked that they did their due diligance in regards to the loan.

  

  Business Response

  Date: 05/12/2025

  American Financing sent the documents to Mr. ****** and they were incorrect.  The error was that Mr. ****** was exempt from the VA funding fee.  American Financing found this error pretty quickly and corrected it.  Mr ****** cannot be exempt from this funding fee, with a VA IRRL it is required that within 36 months these fees have to be recouped.  When American Financing added the funding fee back in (which is correct), we were not saving the borrower enough money to recoup the fees within a 36 month period.  
  
  
  American Financing is taking complete responsibility for this error.  But there is no way to change Mr. ****** to be exempt from the funding fee. 

  Customer Answer

  Date: 05/12/2025

   
  Complaint: 23308731
  
  I am rejecting this response because: I had specifically said I was still active duty. In addition at no point was the question asked if I was exempt. My issue is the false presentation of a loan estimate without due diligence. In addition why would a exception to the required funding fee be the default choice? This is just awful communication and attention to detail. I appreciate you all taking responsibility. It still does not negate the fact that I had a full credit pull and gave a bunch of my personal information. *********** in this case is a unacceptable resolution. Especially given we got to the point that my rate was "locked in."
  
  Sincerely,
  
  ****** ******

  

  Business Response

  Date: 05/20/2025

  The default for the funding fee is not set to exempt.  That was a human error made by American Financing.  Which is why this error was caught.  We understand why he is upset and apologize it was after Mr. ****** received the documentation.  Again we take full responsibility for this error, but we are unable to offer Mr. ****** a loan without a funding fee.

  Customer Answer

  Date: 05/21/2025

   
  Complaint: 23308731
  
  I am rejecting this response because: Im not asking for a loan without a funding fee. The continous assumption that I am expecting a funding fee exemption is patronizing at best. I am asking you all to follow through at 5.5% and 250 saved per month with adding the funding fee. My issue is that a false loan estimate was given that then impacts my credit and yall have done nothing to make it right, other then apologize. Apologies are free. Action shows good will.
  
  Sincerely,
  
  ****** ******

  

  Business Response

  Date: 06/02/2025

  It sounds like there may be a disconnect. We would love to offer the initial rate however when we include the VA funding fee into the loan the cost for that rate and loan is higher than is allowed by the **. Since the loan is a VA product we have to adhere to their rules regarding the cost and structure. If rates drop in the future to the point the cost of that rate and the VA funding fee meet the VA's criteria we will absolutely help you out. At this time that set up will not be approved by the VA.

• Initial Complaint

  Date:04/16/2025

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I was let along for four months that my refinancing was going through. I didnt receive a callback from my mortgage processor so I reached out to a supervisor. I was told that back in January they declined my refinance. So for four months They been leading me on and asking me for documentation with the assumption everything was OK. The supervisor told me that it was inappropriate and should never have happened. I went through two Mortgage contacts which I assumed quit or got fired. My loan processor stayed the same over four months, either she didnt care and just kept processing the loan, knowing it wasnt going through . Your internal chaos and poor management shouldve never affected me .Ive never had a company treat me like this before when I refinanced.

  

  Business Response

  Date: 04/18/2025

  This particular loan presented a number of challenges from the start. The customer had a large amount of student loan debt, which initially impacted their debt-to-income (DTI) ratio. Our team worked diligently to assist the customer in obtaining a payment plan with her student loan servicer to bring the *** within qualifying limits, in hopes of keeping the file on track.
  Shortly thereafter, we were informed that the customer was still in the process of filing her 2023 taxes. The reported income came in lower than expected, and IRS transcripts indicated the customer owed approximately quite a bit. In an effort to move forward, our team explained that she would need to contact the *** to explore available payment plan options.
  Compounding the situation, the property appraisal came in below the estimated value, resulting in an increased cash-to-close requirement. To assist the customer, we restructured the loan with a higher interest rate to help offset closing costs. This reduced the customers required funds to close, and our Mortgage Consultant confirmed that she was in agreement with the proposed restructure.
  Despite our best efforts, the *** payment plan did not produce the outcome we had hoped for, as the customer's debt-to-income was already near the maximum allowable threshold. As a result, the loan had to be postponed until three consecutive payments were made under the new *** plan, which extended the process again. Once the monthly IRS payment was factored into the debt-to-income, it was ultimately determined that we would not be able to proceed.
  
  We sincerely apologize and understand that our efforts may have unintentionally prolonged the timeline. Our intention was to exhaust every possible avenue to assist the customer in achieving loan approval, and we regret that we were unable to reach a successful outcome.

  Customer Answer

  Date: 04/18/2025

   
  Complaint: 23212905
  
  I am rejecting this response because:
  
  Sincerely,
  
  ***** ********

  Customer Answer

  Date: 04/24/2025

   
  Complaint: 23212905
   

  I do not have a dispute over the details of waiting for the **** details like filing or the Payment plan. I am complaining about the poor communication and lack of management of my loan. **********************preserver-spaces="true"> I called a supervisor on April 16, 2025, at the ************* at ************ due to not getting an update on my loan.  *********************preserver-spaces="true"> supervisor told me that the loan had not been approved months back.  He stated the final numbers didn't make sense and I would have to have paid 8K out of pocket at closing. *********************preserver-spaces="true"> supervisor stated that this should have been communicated to me months ago. *************************preserver-spaces="true">, we went through months of underwriting that should never have gone to that level.  

  
  
  

  Those numbers would have been calculated back in January or February, and it should have been told then. *************************preserver-spaces="true">, I had ***** Alfounian who was my first mortgage consultant was assigned in January, but he suddenly left or was fired. I was assigned to ***** ******** in February briefly and he disappeared after a few weeks with no contact. I ended up solely dealing with ***** ******* who was the loan processor. I went through months of gathering documents when I was completely unnecessary because the loan had never been approved months before.  

  
  
  

  My complaint is no-one caught it and until I called a had I not called a supervisor this most likely would have gone on for weeks. *********************preserver-spaces="true"> had also mentioned that I would have had to make 3 consecutive payments to the *** which was never discussed with me via email or phone call. ********************preserver-spaces="true"> until this complaint that was the first I had heard of this.  

  
  
  

  I believe as a result of my BBB complaint, you are retaliating this week by sending me a bill For the appraisal for an $800 fee that I must pay in 15 days.  I was never told I would have to pay the appraisal fee if the loan was not approved. *********************preserver-spaces="true"> are required to verbally discuss this with me which it was not.  Per the The Interim Final Rule on Valuation Independence (IFR), implemented as part of the ****-***** *******************************preserver-spaces="true">requires mortgage companies to review appraisal fees. This rule ensures that appraisals are conducted independently and fairly, protecting consumers from potentially inflated or manipulated valuations. 

  
  
  

  If I had known I was going to be charged an appraisal fee for the loan most likely going to be declined I would have stopped the loan. I knew I had a high chance of denial and your representatives never discussed the appraisal fee being charged to me if the loan was declined up front in January with ***** nor in February with *****. Please send me your documentation and verbal recording of the conversation which never happened.

  
  
  

  I will not pay your appraisal fee I will report this to the ************************************ (.gov) for poor practices and to the attorney general.  

  
  
  

  I am requesting that you rescind the appraisal fee and the credit report on my credit.   

   

  ***** ********

   

   

   

  

  Business Response

  Date: 05/07/2025

  Yes Ms. ******* did receive an appraisal invoice, it was in error.  She called in on April 24th and we immediately responded by telling her it was sent in error and we planned to pay for her appraisal.  

  Customer Answer

  Date: 05/07/2025

   
  Complaint: 23212905
  
  I am rejecting this response because:
  
  Sincerely,
  
  ***** ********

• Initial Complaint

  Date:03/28/2025

  Type:Service or Repair Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I took out a cash out refinance in in December 20 24 I took out this cash out refinance so I can repair my roof from a hurricane. This loan is supposed to for repairs to a house. I took this one out with American financing. The process took a couple months and in the loan they put oneof the conditions that I had to repair my roof with the money. Well, they decide to hold back five grand and put it in escrow and upon completion of the roof getting fixed I would receive the five grand. It took a couple of months to get a contractor order supplies.Get them to fix the roof in a timely manner. Well, finally they finally repaired the roof I sent pictures to American financing. They sent out own inspector and said the roof was good and we were done well. That took a week from them saying oh were just waiting. Were just waiting on confirmation on that it is and then they got confirmation that was repaired and they sent the info to the ************* to send us the money then American financing decided oh what would you need receiptsof how much you pay I sent them the receipts that only took a few seconds and then all of a sudden they send me this document. Oh yeah, we also the roofer company to notarize and sign this document even though the roof is already complete. Its been done. We couldve had this document two months ago, no one decided to send me this document to hand the company so they can fill out before the work is complete now this been two or threeweeks now still waiting on the money because the roofer had a heart attack and now Im waiting on him to sign it even though its my fault we never received the document. Everyone keeps putting the blame on someone else and no ones being held responsible. I will write to whoever I have to to tell the story abouthow crappy American financing is.

  

  Business Response

  Date: 03/31/2025

  American Financing closed Mr. ******* loan on 12/21/2024.  To complete the loan an escrow hold back was required.  We held back $5000 for repairs to the roof.  This was signed by Mr. ******** stating it would take 30 days to complete the repairs (see attached). On January 29th we were told by Mr. ******* that repairs would not suffice, and a new roof was needed, and it could take up to an additional 60 days to complete.  
  
  The roof was completed on March 7th and the final inspection was completed on March 12th.  For the release of the $5000 American Financing required a lien waiver to be signed by the roofing contractor.  The contractor had a medical emergency, which was completely out of control of American Financing, which again delayed the release of the funds. The title company knew there was an escrow hold back as it was listed on the closing documents.  They also provided the lien waiver in the closing documents, not American Financing. Mr. ******* called both American Financing and First Integrity Title many times after his roof was replaced inquiring about the funds.  He was told multiple times that we need the lien waiver signed to release the funds.  He has been aware of this since his closing in December.
  
  These delays were not the fault of American Financing what-so-ever.  The delays were caused by the change in repairs and the contractor having a medical emergency. This is not a valid complaint against American Financing and we would like to have it removed.
  
  

  Customer Answer

  Date: 03/31/2025

   
  Complaint: 23130233
  
  I am rejecting this response because: 

  once again even in your own holdback agreement it does not state anything about a waiver lien document to complete. It literally states after the final inspection it will distribute the funds. I just uploaded a document from a text of ***** **** stating she didnt have the document to send me! Since Ive repaired the roof and its been inspected youve only come up with random issues like we are waiting on the title company for over a week, oh you need receipts to give us, oh you need this lien document to be signed when your own holdback agreement doesnt state that. I reject this response cause its the same excuses I keep hearing over the phone with these people. 

  
  Sincerely,
  
  **** *******

  

  Business Response

  Date: 04/10/2025

  The Lien Waiver & Release form is a critical part of the escrow holdback process, serving both to protect the customer from any potential liens filed by the contractor and as verification that the escrow holdback requirements have been fulfilled and properly documented. 

  
  In this instance, AFC and FITCO made an exception by accepting alternative documentation - specifically, proof and clearance of payment from Mr. ******* to the contractor - in lieu of the executed Lien Waiver & Release form. This exception was granted solely to accommodate Mr. *******, as we were not informed until March 28, 2025, that his contractor experienced an unforeseen medical emergency and was in ICU, making it impossible for him to provide the required documentation. 
  
  We received the additional documentation supporting this exception on April 3, 2025 and the escrow holdback funds were released to Mr. ******* on April 4, 2025.
  At no point did AFC or FITCO neglect our responsibilities in this transaction. Actions were taken in a timely and appropriate manner as updates were received from the customer. Furthermore, we went beyond standard protocol to facilitate a resolution that favored the customers interests. 

  The unforeseen delays were not at the fault of American Financing, the roof needed to be replaced not repaired, title requiring the lien waiver, and the contractor having a medical emergency.  We did everything within our power to protect our borrower and get him the funds he requested.

   

  Customer Answer

  Date: 04/10/2025

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  **** *******

• Initial Complaint

  Date:10/17/2024

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I attempted to refinance my home with these guys. This is a place I bough just under 2 years ago. Initially, everything was OK. With a last email from they stating that "We finally got the condo approved to move forward with the refinance. here are the final items we need for final review." Things were moving along then, I get an email stating that the home's value was less than they were expecting, Did not tell me that there are no longer going to refinance, I had to call them to find out what was happening. Then I receive an email stating the want me to pay them $900 for the appraisal. This appraiser that was sent, spent 15 mins in my home and gave it no different of a value from when I had purchased it initially. I have had $24,000 of ******** windows installed, a new water heater and the back yard leveled and turfed. This is ridiculous that upgrading the home with over $25,000 did not impact the home's value at all. There has been a lack of professionalism, that I was not aware of until now. It is easily conceivable that some due diligence could have easily avoided this whole situation. I can only surmise that they dangled a great price in front of me so I would sign on. Then they didn't bother to look into the property value initially, or try to come up with another way to refinance, just sent me an exorbitated invoice for an appraisal. This experience can only lead me to believe that this was a set up and there was no intention to refinance my home, just cut it off at the last minute and charge me ridiculous money for a half-assed job.

  

  Business Response

  Date: 10/22/2024

  American Financing would like to apologize to *** ********* for the lack of communication.  We have taken this opportunity to further train the mortgage consultant.  American Financing will pay for the appraisal for *** *********. 

• Initial Complaint

  Date:07/31/2024

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  My husband and I contacted American financing to see about doing a refinance on our home to look into a home equity loan. Ever since we gave this company our information, we both have been getting NON-STOP spam calls from various numbers. my husband has gotten over 25 spam calls and I have received 3 within the last 2 days. I would like to work with this company but, if they instantly just sell our information out to people who now call us and then hang up with local numbers. It has made us question the integrity of this company. We want our contact numbers to be removed from whatever phone list they put them on and request to only be contacted by the rep we are currently working with.

  

  Business Response

  Date: 08/01/2024

  American Financing does not sell any of our borrowers information to anyone.  We only provide their information to third party vendors that *** be needed during the loan process (ie. appraiser, title, notary, etc).  But the credit bureaus (all three of them Equifax, Transunion, and Experian) do sell your information.  So that is why the ****** are getting spam calls.  American Financing has no way to prevent this.  There have been talks about Congress banning the bureaus from selling "trigger leads" but that hasn't happened yet.

  Customer Answer

  Date: 08/01/2024

   
  Complaint: 22071795
  
  I am rejecting this response because:

  To me this is just an excuse because I have applied for loans prior and never had this many issues with spam calls after my credit was checked

  I also dont appreciate rude voicemails to my husband from the rep complaining that I made this complaint to BBB. 
  

  If you were getting multiple calls from spam calls after submitting your credit information to a company youd be ****** too and thats the reason we are annoyed and the reason why I filed this complaint.

  Regards,
  *******************

• Initial Complaint

  Date:07/11/2024

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I was blatantly lied to by American Finance. The attached email shows what I was told would be all that they required for income. - I said upfront that I had been employed by my daughter babysitting for less than a year. If they required more, I did not them to hit my credit report. - Turns out, they require 18 months employment. The agent knew this and denied it in order to convince me to move forward with the application process. Repeatedly, I received forms in with the documents asking for my signature to allow American Finance to use my personal information. I refused. I then received a text saying that I was preapproved and next there would be an appraisal. Then I got a denial email. When I spoke to a manager, he asked what I was told and then said oh yeah, he was right. No, both this manager and the first agent are lying to people. I believe this common practice by this company in order to get a person's private information to sell. Considering their 18 month requirement, they should not have touched my credit and should fix the problems on my credit that they created.

  

  Business Response

  Date: 07/15/2024

  American Financing does not sell any borrower information to any third party vendors ever.  We have listened to the call, when loan officer *********************** is taking the application he is speaking with **************** about her income and she states that she babysits for her daughter.  **** then asks **************** "are they doing that as official employment or 1099"?.  **************** then states "Yes, my daughter has it set up through home pay where they take out taxes and everything".  He then asks how long she has been doing this?  **************** states she has been doing this since January.  This conversation led Mr. ******* to believe that she was a W2 employee and had been doing that for 6 months, which is enough for W2 employment.  But when the pay stubs were received they showed her daughter as the "employer".  Which in turn changes **************** to be self employed not W2 employed, meaning she would need 2 years of employment. That is the reason for denial.  A loan officer has a pretty good idea of what will be approved, based on what the borrower tells them, but until the documents are received and reviewed by underwriting there is never a guarantee of approval.

  Customer Answer

  Date: 07/15/2024

   
  Complaint: 21955414
  
  I am rejecting this response because: it is false information. Yes, I am employed by my daughter. She was on maternity leave when I first started in **************************************** the beginning of 2024. A copy of the W2 was included with the 2023 taxes provided. Obviously, and by their own statement in their response, I am not self-employed. I am an employee and the documents to prove that were provided. These documents included the 2023 taxes that showed the W2 form for the babysitting done in 2023 and paystubs from HomePay for 2024 as requested. All of this income requires a W2 form for taxes.
  
  Sincerely,
  
  *************************

  

  Business Response

  Date: 07/23/2024

  When looking at the W2 that **************** provided the total year income shows as $2,112 which is not enough to qualify.
  
  Also, the W2 shows her daughter as her employer and ****** *** and ****************** require that you have two years of income if you are working for a family member.  **************** told ****************** she was babysitting her grandchild and was paid through Homepay.  Homepay is not shown as the employer on the W2.
  
  Please know that American Financing would have completed this refinance for **************** if we could have. 

  Customer Answer

  Date: 07/25/2024

   
  Complaint: 21955414
  
  I am rejecting this response because: It is just a continuation of their ongoing dishonesty. Notice how they were saying that I was working for my daughter but needed to file a 1099 for taxes. That was proven false. Now they are saying that I told them that I worked for HomePay which is an outright lie. When they wanted employment verification, they went straight to my daughter, not Homepay. I stated numerous times that I was employed by my daughter and that she used HomePay to process the payroll and taxes for her. Notice how it they are saying that it is standard according to them for anyone employed by family to need 2 years of income verification. They knew this upfront and that is the problem. I made it clear that if more than 6 months employment with my daughter was required, then I did not to do an application and under no circumstances did I want a hard hit on my credit. The email that I included previously, shows where I was told that a few months of current employment and 3 years tax returns was all that was required. I want them to remove all of their information from my credit report and then go away. Stop making up more lies and just remove their stuff from my credit report.

  
  
  Sincerely,
  
  *************************

  

  Business Response

  Date: 08/02/2024

  American Financing understands that Ms. ****** stated that she did not want to proceed unless she had a good chance to be approved for a mortgage. And her loan officer thought that she would be approved. Like American Financing responded before: the loan officer based his belief on Ms. ****** being a W-2 Homepay employee, which would have qualified her for a mortgage. But because Ms. ******** daughter employed her, she could not be approved.
  American Financing made no money from this transaction. Ms. ****** paid nothing because American Financing charges no upfront fees. There is no reason for American Financing to mislead Ms. ******** about her chances for approval: if a customer cannot get approved for a mortgage, American Financing loses money and resources. 
  Ms.******** own complaints explain why American Financing cannot remove its credit inquiry from her credit report: she applied for credit through American Financing, hoping to be approved. The Fair Credit Reporting allows entities to obtain a persons credit report for permissible purposes, including when an entity seeking a report intends to use the information in connection with a credit transaction involving the consumer on whom the information is to be furnished and involving the extension of credit to, or review or collection of an account of, the consumer[.] 15 U.S.C.S. 1681b. American Financing used Ms. ******** credit report to determine whether it could furnish her an extension of credit at her request, which is a permissible purpose.  American Financing does not determine whether its inquiry can be removed from a credit report. Rather, it can request removal if it did not have a permissible purpose to request the report. American Financing used Ms. ******** credit report to see if it could furnish her credit, which is a permissible purpose. It has no basis to remove this credit inquiry.

  Customer Answer

  Date: 08/07/2024

   
  Complaint: 21955414
  
  I am rejecting this response because: As I have repeatedly stated, the policies for the denial are based on the companies' standard practices. If the agent that I first spoke with was adequately trained, he would have been familiar with the companies' standard practices. And I believe that he was familiar with the policy that they have mentioned where anyone working for a family member must show 2 years of income. Since I specifically asked if my employment with my daughter was less than a year would be an issue up front, there should not have been a credit report pulled. It was here that I strongly believe that I was intentionally lied to by the agent. I repeatedly told him that I had been employed by my daughter for less than a year and if they required more than that, then I did not want hard hit on my credit report. 

  I am sure there are laws against a company lying to people for the sake of pushing them forward in situations that they clearly do not want to be in. I will do further research on my options since they are obviously not going to do the right thing and remove their information from my credit report.
  
  Sincerely,
  
  *************************

• Initial Complaint

  Date:04/13/2024

  Type:Product Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Heard about American Financing on AM radio during the Hannity show decided to check it out. Spoke with a Mr ********************* license #****** personable fellow. Had to lift a credit freeze for the process and send a copy of my driver's license and social security card. ******************************************* sent the paperwork *** never heard back *************** mentioned something about *************** of financing. Passed me off to a very rude lady who had my information incorrect basically instigating an argument regarding my tax return. Long story short I never received confirmation or decline correspondence in return had to call the company spoke with a ***************** real piece of work told me he did not have to send me the paperwork explaining why I was turned down for said refinancing. I would have to go online. That's not going to happen. I want a hard copy for my files. GOD works in mysterious ways after reading reviews glad I didn't do business with company and ******* should be ashamed of the endorsement.

  

  Business Response

  Date: 04/15/2024

  Ms. ******* started the loan process with American Financing in January of 2021.  We were unable to complete the mortgage refinance due to excessive obligations in relation to income (debt to income ratio).  With regard to the incorrect address, on Ms. ********* 2019 W2's her address was incorrect.  We did correct that in the system after we received clarification from Ms. ***************** August of 2023 Ms. ******* called to ask about her statement of denial.  We spoke with her and thought we had addressed all of her concerns.
  

  American Financing will mail out another copy of Ms. ********* denial letter.

   

  

  Business Response

  Date: 04/15/2024

  Ms. ******* started the loan process with American Financing in January of 2021.  We were unable to complete the mortgage refinance due to excessive obligations in relation to income (debt to income ratio).  With regard to the incorrect address, on Ms. ********* 2019 W2's her address was incorrect.  We did correct that in the system after we received clarification from Ms. ***************** August of 2023 Ms. ******* called to ask about her statement of denial.  We spoke with her and thought we had addressed all of her concerns.
  

  American Financing will mail out another copy of Ms. ********* denial letter.

   

  Customer Answer

  Date: 04/15/2024

  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  Nova *******

• Initial Complaint

  Date:02/21/2024

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  The practice has had me legally pay bills and fall in debt to now where i may lose my home because this worker on a recorded line had me paying off debts and all kinds of stuff to qualify and now because he has put himself in a uncompromising position he has cancelled my loan i am in 5000 of debt because i listened to him he deserves to be reprimended and i will seek a lawyer over this for falsely doing this just to make money off me

  

  Business Response

  Date: 02/22/2024

  ********************* came to ** last fall looking for cash to pay off his debt.  When he came to us we had to put his file into *********** to increase his credit score so we could complete the loan. The plan that *********** put together for ********************** did require that he pay off some of his debt, to imprice is credit score.  ********************** agreed to complete this and his credit score did increase.  All communication and plans that the *********** team puts together have the following disclosure: ."Achieving a desired score is not a guarantee for loan qualification - Credit repair is just the next step in your mortgage journey. Once the desired score has been achieved your Mortgage Consultant will walk you through the rest of the process."   Also this service was free for **********************.  
  
  After ********************** completed the *********** plan, we started to process the loan.  An appraisal was done on the home and the value came in lower than expected.  In turn, the cash to close for ********************** was less than what he was wanting. This upset him.  Appraisers do not work for American Financing; they are a third party vendor, and this is done to protect the borrower.
  
  American Financing understands ************************** frustration.  If ********************** would like to move forward with the cash out refinance we are happy to help him complete this.  We are more than happy to have a conversation with him to walk through options.  

• Initial Complaint

  Date:02/07/2024

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have been trying to refinance my home with American Financing for months now. Everytime I am close to closing, the company finds a new thing to charge me for. They sent out an appraiser who unvalued my home and now the closing costs are exorbitant. The staff is absolutely incompetent. Stat far away from this ripoff company.

  

  Business Response

  Date: 02/08/2024

  *************** started this application for a refinance on 12/30/2023 less than 45 days, this is not a lengthy period of time to process a cash out refinance. In addition, **************** purchased this property last year and the first payment on that property was due 7/1/2023 and you must wait 210 days before a refinance can be completed that would have been 1/27/2024, so she would not have been able to close this loan prior to 1/28/2024.  American Financing requires survey coverage for all properties located in **********, in turn **************** would never have been told this was not a requirement to complete the refinance or there was an option to waive this needed item.  Yes there is a fee associated with this survey.  The survey is the one item remaining to complete this closing.  With regard to the appraisal coming in lower than expected.  The appraiser does not work for American Financing, they are a third party vendor.  This is done to protect the borrower.  We have no authority or ability to modify the value of an appraisal. 
  
  
  American Financing is doing everything they can to complete this for **************** in a timely manner.  We pride ourselves in providing the best customer service and hope that we can get this loan completed in a timely manner.

  Customer Answer

  Date: 02/15/2024

  Please reopen this case.  I did respond to your prior message.