Complaints

This profile includes complaints for Finance of America Mortgage LLC's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  Finance of America Mortgage LLC

  1 West Elm Street Conshohocken, PA 19428

• 

  Finance of America Mortgage LLC

  1 Mall Dr Ste 500 Cherry Hill, NJ 08002-2103

• 

  Finance of America Mortgage LLC

  3150 Washington Rd Ste 300 Canonsburg, PA 15317-3189

• 

  Gateway Funding Diversified Mortgage Services, L.P

  609 Eugene Ct Ste A Greensboro, NC 27401-2765

• 

  Finance of America Mortgage LLC

  122 SW 156th St Burien, WA 98166-2516

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:02/24/2025

  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.

  2/24/25 I have been trying to make another payment on my reverse mortgage loan and suddenly I can't make my payments on line. I have been making payments the last few months with no issues. Now I have to download a form, send a check or give them my checking information. I am not sure if they are preventing me from paying off my loan or what is happening. The customer service representative at the call center was rude and not helpful. I need to know how to make a payment.

  Business Response

  Date: 03/07/2025

  Please find attached herewith Finance of America's response to compliant ID ********/*******. Response due 3/10/25, submitted 3/7/25.

  Thank you, 

  ***** *****?  
  Compliance Officer II
  Finance of America  
  ********************************************************************************************************

   

• Initial Complaint

  Date:07/25/2024

  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've been getting commercial loans from Finance America for about 10 year and currently still a have two loans with them. I was advised they'd start reporting to credit agencies in Oct of 2023 and go back 2 years, however I wasn't worried because again I'd never been 30 days late or defaulted. Based on some of the complaints posted on here I see clearly what's going on. The tactic of the new owners is to force borrowers into default for the sole purpose of gouging us for fees. On a home I sold in June of 2024 there was a balloon due in Dec of 2023. I applied for the extension around Dec 5th. Again never having a problem getting an extension in the past I thought it was just a formality but it would be granted since we should have the same goal, which is to get the home sold. To may amazement my extension was denied but later approved in Jan. **** when I went to make a payment in Dec, I was told no payment would be accepted without an extension in place. I was like "What?!" Then I remembered the credit reporting. I asked if they could take the payment and perhaps put it into a suspense account until the extension was approved. I was told NO. I asked "so are going to refuse my payment then report me late?" I was told, yes. I was beside myself. I've had perfect credit for 15 years and they single handedly destroyed my credit. They later on took a payment from, then decided they wouldn't apply it because I was for force placed insurance (due to poor credit now). My account was not set up as an escrow account so the insurance and payment are two separate issues. I asked if they'd refund the payment if they weren't going to apply it and they said no. Proving they CAN in fact take payment and put it in a suspense account if they want to. But this company has violated UDAAP. They have been unfair and deceptive whenever they can benefit. Lastly, by ruining my credit, they single handedly eliminated a crucial exit strategy for borrowers, which is the ability to refinance.

  Business Response

  Date: 08/09/2024

  Hello,
  
  Please see complaint response attached herewith.
  
  Thank you. 

• Initial Complaint

  Date:06/28/2024

  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 entered in to a reverse mortgage with another party. Finance of America reverse bought the loan from the third party. I have had a homeowner claim due to flood damage on my home. These people received a payment of $85,000 for repairs from my insurance company. They refuse to pay contractors. They have had my insurance payment for over 6 months. They will not return calls, answer emails, escalate to supervision, they claim the *** doesn't work there. The "processors" claim to not have a phone that accepts calls. They have only paid $3000 of contractor payments and are holding $80K of my money.

  Business Response

  Date: 07/15/2024

  Hello,
  
  Please see complaint response attached herewith.
  
  Thank you. 

• Initial Complaint

  Date:04/20/2024

  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.

  To whom it may concern:On December 15, 2016. I thought I was purchasing my first home, however, I found out during tax season my mortgage payments were not paid value for debt. Finance of America Mortgage LLC created a scheme to produce revenue and not to a debt. Also, the documents have forged signatures.

  Business Response

  Date: 05/02/2024

  Hello,
  
  Please see complaint response attached herewith.
  
  Thank you. 

  Customer Answer

  Date: 05/13/2024

  To whom it may concern: On December 15, 2016. I thought I was purchasing my first home, however, I found out during tax season my mortgage payments were not paid value for debt. Finance of America Mortgage LLC created a scheme to produce revenue and not to a debt. Also, the documents have forged signatures.
  
  
  
  
  
  
  

• Initial Complaint

  Date:03/25/2024

  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 am reaching out to report a critical issue of identity theft involving my personal and financial information. Unauthorized use of my driver's license, Social Security Number, and credit/debit cards has occurred.I seek the urgent support in addressing this matter by facilitating investigations, ensuring the security of my accounts, and assisting in the removal of all fraudulent transactions and inquiries from my records.----------INQUIRY-------FINANCE OF A 06/01/2022,_-------

  Business Response

  Date: 04/09/2024

  Hello,

  Please see complaint response attached herewith.
  
  Thank you,

  ***************************************;

• Initial Complaint

  Date:10/26/2023

  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.

  I inadvertently made a payment to the wrong payee saved in my bank account. Yes, my error. However they are refusing to return my funds. I called have called ***************** ***** and they do not have the return of my funds from Finance of America as they are claiming. I NO LONGER have a mortgage with them and they need to return the payment that was made in error to them. I have been calling and emailing since 9/18/2023 1:46pm (Pacific) and there has been no resolution or return of funds they ARE NOT OWED.

  Customer Answer

  Date: 11/09/2023

  Today 11/9/2023 I FINALLY received my funds back from Finance of America and this matter should now be closed. Thank you.

  Business Response

  Date: 11/15/2023

  On 11/9/23, *************** informed you that she received her money back from Finance of America, and that this open complaint should be closed. Please close the complaint and let me know if you need anything further. 

  Thank you, 

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

• Initial Complaint

  Date:08/24/2023

  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.

  The mortgage company lost all of my information: loan number, name , address,.

  Business Response

  Date: 09/07/2023

  A direct response will be sent the customer.  The customers loan was transferred to a new lender in June, and it appears that the customer has been in communication with the current servicer.  We recommend that the customer continues to work with his servicer to resolve any issues he might have with his loan.  

  Customer Answer

  Date: 09/13/2023

  I wasnt informed that my loan was transferred to another lender good to know. May I have the new lender info please? 

  Customer Answer

  Date: 09/13/2023

  I would need to know the name and address of the new lender as mentioned.  *********************** ************. Thanks.

  Business Response

  Date: 09/19/2023

  A response was previously sent to the client containing the information requested. For your convenience, it is also attached herewith.  

  Customer Answer

  Date: 10/07/2023

  Thank you for getting back to me . The lender suddenly found loan , my social social security number and the house I purchased ,however I am still having issues with their insurance company which is responsible to pay for the repairs/damages to my home!  Still have not heard anything so I had to go purchase a second home to reside in wile they decide what they're going to insure. Again my phone number is ************.

  Customer Answer

  Date: 10/18/2023

  This lender Finance of America and their servicing Company “ ********” has been a nightmare to work with. We have tried countless times throughout the past year to access our homeowners insurance to cover major damages to this property we discovered after moving in. First they lost my loan , loan number, social security number, address, etc.  Now they found all of this information but they are dragging their feet still , and the home is sitting empty because it is uninhabitable due to septic line breakdown / no septic system! We purchased a second home to live in because of this . Are they going to fix it or not? 

• Initial Complaint

  Date:05/23/2023

  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.

  This company promised us that they would allow for an extension while we sold our property. We provided all documentation that they asked for, proof of listing and then later the purchase contract. 3 months prior to the property being sold all communication stopped. We later found out the company was being bought out, our loan was possibly sold to another company and we were not told. In the meantime, they sent or loan to collections with a company called ***, whom they instructed not to take payments from us and they continued to add late fees. They would not take our payments, did not respond to any of our emails, continued to add late fees and fees on top of late fees and when we closed, they charged us for over $40K in fees. Then, finally after several attempts to communicate they proceeded to tell us that they didn't receive the documents, we provided proof that we did and all communication when blank. This is a horrible company, do not work with them.

  Business Response

  Date: 05/26/2023

  We previously responded to the same complaint directly to the customer.  We worked diligently with the customer on an exit strategy.  We reviewed the account and determined that the late fees and interest charges were correctly calculated under the applicable loan documents.  As such, we respectively decline to waive those charges.

  Customer Answer

  Date: 05/30/2023

  [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]
  
   Complaint: ********
  
  I am rejecting this response because:
  Again, we provided everything this company asked for.  They stated they didn’t not received some documents when we even provided proof that those were sent and no one responded and no one approved our extension like they said they would.  There response was short abrupt and railed to recognize the proof provided.  They took advantage and did not hold up their agreement for an extension and we did.
  
  Regards,
  
  *************************
  

  Business Response

  Date: 06/08/2023

  A detailed response was provided to the customer on May 19, 2023.  Based on the information available to us, our position remains unchanged.   

  Thank you!

• Initial Complaint

  Date:03/17/2023

  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.

  *** **** LLC A broker by the name of ************** claim she worked with a ton of lenders to get a business like ours a line of credit. She connected us with a ****** ***** at Finance of America. After months of going back and forth they finally "approved" us for a line of credit (construction loan) ...or so we thought. Problem was they were requiring me to provide money for a line of credit. I thought this was odd and challenged it. They later told us they "fixed it" and we would not have to bring money to the closing but would get 35k at closing to start rehab on a construction project. We get to closing and we only get 10k back and 25k went to closing cost. We started the project, got a draw pushing what we owe to 50k. The problem is they are charging us for the full loan amount of 225k at $1800 monthly. We can't speak to anyone, and no one will return our calls. We can finish the project if funds we are paying for monthly are released or the monthly payment is reduced to reflect a loan of 50k. We are starting here but will utilize every political resource at our disposal, news agency and social media outlet to investigate this loan, expose finance of America for what may be racially motivated and bury them as an institution. We have not missed a payment while attempting to contact them but enough is enough. Our company name is *** **** ***

  Business Response

  Date: 03/29/2023

  Finance of America Mortgage LLC sent a separate response to the owner of the borrowing entity as ******************* is not fully authorized on the account.  We have reviewed the file and determined that the loan has been serviced correctly.  The borrower can contact us directly if she has any additional questions. 

• Initial Complaint

  Date:03/15/2023

  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.

  RE: Refund from Finance of American Mortgage LLC c/o ********* (FOAM LLC c/o LC) -- My home was transferred from FOAM LLC c/o LC to ********** Mortgage *************** (****) on September 30, 2022. My first payment was due to the new servicing corp. on October 1, 2022. Unfortunately, I did not see the letter until after October 1, and inadvertently mailed my payment to FOAM LLC c/o LC. I mailed a cashier's check in the amount of $1,501.77 to FOAM LLC c/o LC, but they never forwarded the check to ****. My bank indicated that the check was cashed by FOAM LLC c/o LC and as a result caused my credit score to plummet. It also caused financial hardship because of having to make two mortgage payments. As a result, I am requesting a full refund from FOAM LLC c/o LC because I had to make that second payment to the new server, ****. I hope you can resolve this problem. Thank you for your consideration. CC: Please do not share my personal information to a third party.

  Business Response

  Date: 04/03/2023

  Good afternoon
  
  We are still researching this matter and will need additional time to respond to this complaint.  Please advise if an extension can be granted.
  
  Thank you for your consideration!
  Customer Relations

  Business Response

  Date: 04/25/2023

  ******** does not have any record of receiving the cashier’s check that the customer claims to have sent.  ******** contacted the customer requesting for more details and is awaiting a response.

   

  Thank you!

  Customer Relations