Business ProfileforA F C Mortgage Co.

We have previously owned 2 homes & had multiple refinances and have never experienced the nightmare we did while buying our 3rd home and using AFC Mortgage. At first everything went smoothly. We dealt with Gaetano & a number of other very young staff members. Gaetano was very friendly & seemingly enthusiastic. Everything changed the week before our closing. We were purchasing a new build and AFC told us we needed insurance on our “hole in the ground” so we paid for insurance on a home that wasn’t even in the process of being built. We also paid for an appraisal at that time and they made us pay for another one the week of our closing. Closing week was a horror show. All the paperwork we signed shows AFC Mortgage as our lender but be cautioned that they are likely not going to fund your loan. For four days, they kept stating the underwriters were finding issues with the process but we were a top priority . Issues included the licensing of the appraiser that AFC hired! We also learned that we didn’t need the insurance policy we paid for since the home was started. Since we have a credit score at or near 800 and had a large down payment, we were told by multiple sources that we were a lender’s dream. Yet, on the day of our closing, with the moving truck loading our belongings on the truck, AFC still did not have a clear to close! I spoke with the owner, Frank Ciambriello who is also Gaetano’s father, to find out what the issue was and he called our loan a “****show”! That is not reassuring. After that first phone call with Frank, he was difficult to contact. Later that afternoon we got the clear to close and signed the paperwork. At the closing, we found out that our loan was already sold. Paperwork was signed but funds were NOT transferred and there was no response as to why. We went to our new home only to find out that there would be no funds transferred that day because the transfer failed, which was a Friday, so we had to send our belongings back with the movers and we were homeless. Frank was busy golfing the next day, while we had no place to live, and refused all attempts to speak with us about how to get this issue resolved. Gaetano stated that they would get right on this issue first thing Monday morning, however, it became evident that every step of the way that the effort was minimal. Our realtor was able to contact the banker who released the funds on Monday and we had the keys in hand when Gaetano texted us that he still had NOT heard anything from the bank! It does not seem that there was a great effort on our behalf. It was our realtor who got almost all of the issues resolved. It is our suspicion that because AFC was selling our loan, they were trying to please the lenders who were going to buy the loan and their greed is what caused our nightmare.