As a former employee of American Financial Resources, Inc. I have give this company millions of dollars in business. After being promised leads from this company, I drove 1 hour and 30 minutes into the office everyday only to sit and shuffle paperwork. After some time, I was able to put three loans into process. The loans were entered in August 24, 2011. AFR normally prides itself on getting loans done in under 30 days time. As per my employment contract, In the event you resign or are terminated for any reason other than for cause, you shall receive your Earned Commissions on all loan volume that closes within thirty (30) days from the date of cessation of employment. No commissions will be paid on loans closed after 30 days have elapsed after termination.
I finally decided I needed to make a change in companies. I made a decision to leave AFR to work for another company closer to home and will provide leads, as promised. The three loans I left behind were personal friends and hoped the loans would be handled and closed in a timely fashion, after all, the closing time was supposed to be under 30 days. The loans were pushed way past the 30 days, into 60 and finally closed after 90 days time. This allowed American Financial Resources, Inc. to enforce the 30 day employment contract and keep my commission, over $10,000. I called the President/Owner of the company Corey Dubnoff and tried to get an explanation. I was told 30 days is more than fair. I asked for an explanation as to why the loans that were ready to close when I left took 90 days to close, the response was a chuckle. I am pursuing this matter with the proper authorities, The Department of Labor, The Department of Banking and the American Arbitration Association. I am writing this complaint so I can let other loan officers know what type of companies are out there. I guess I should not be surprised...
I applied to AFE for a mortgage on November 15, 2007. It took them 4 months to get to closing. The Good Faith Estimate of closings costs was over $8,000, but at closing they had switched GFE's, and the closing costs were $15,000! They won't give me a copy of my appraisal. Richard Dubnoff, CEO, is a real jerkoff - they are unethical and dishonest, taking over half a person's equity for their 'fees'. Stay away from these scum-suckers.
Me and husband were tring to get pre-approved for an fha loan, got turned down but were told if we could find a co-signer then they would definately help, well 2 mnths pass my dad offered to co-sign so i called them back , i called american financial resources inc back ,ask to speak with the last person who was handeling our case was told he was no longer ther.
The person on the phone told me that he could help he would look thru our case and call me back . Called me back the next day and was going thru our old applacation, and said , the looks of it , you might not need a co-signer, that the last person who was no longer their may have mishandeled the case.
Called back an hour later,as he was going thru my husbands credit report and saw on ther , that he owed money to a community jail.
Asked why he was in jail and i told him an honest answer , not that i thought that was any of his buisness, and asked me if my husband was ever in state pennatentary, i was honest with him , and then the representative (BROKER) told me a bank would never approve an x-felon for a home loan.
After feeling ashamed and humilated he said he would ask his boss to be sure because he did not know their policy and call me back that day, which he did not , nor the next or after
This company poses as a legal service, and even tells peopole they are a loan servicing company. No way, these guys are rip off artists. Stay clear. They take your money and you end up having to pay the bank anyway if you want to stay in your home. I found out after some research that the owner of this company Micah Foster use to be in the adult intertainment industry and owes a lot of people money which is how he ended up scamming people now.
I inquired about re-financing my mortgage from american financial resources in mid May. I was given a good faith estimate at a rate of 4.625%, no points for a 30 year fixed. I provided all the financial data requested in 1 day and also had an appraisal completed in 2 days at my out of pockect cost of $350. I repeatedly called and emailed nick dimilia, representative with no response. When I finalling connected by using an unknown number he informed me that my rate was never locked in and that the current rates were in a point higher that he offered. nick stated that he would call me back the next day after speaking with his supervisor to see what he could do, no call back. i sent an email and inforemed him that i would be filing a complaint. he called the next day an gave me a sales pitch line of he is looking out for me but never made good on covering my out of pocket cost. nick called 2 days in a row to let me know that rates are not good yet and was keeping me in mind. this experience has been not only financial imapctful as it was going to save me $700 per month, out of pocket $350, pulling all the finance info but a total frustrating lies after lies.i flet i needed to come forth so that someone else might not fall for this sales scam.
American Financial Resources, Inc. Reviews
As a former employee of American Financial Resources, Inc. I have give this company millions of dollars in business. After being promised leads from this company, I drove 1 hour and 30 minutes into the office everyday only to sit and shuffle paperwork. After some time, I was able to put three loans into process. The loans were entered in August 24, 2011. AFR normally prides itself on getting loans done in under 30 days time. As per my employment contract, In the event you resign or are terminated for any reason other than for cause, you shall receive your Earned Commissions on all loan volume that closes within thirty (30) days from the date of cessation of employment. No commissions will be paid on loans closed after 30 days have elapsed after termination.
I finally decided I needed to make a change in companies. I made a decision to leave AFR to work for another company closer to home and will provide leads, as promised. The three loans I left behind were personal friends and hoped the loans would be handled and closed in a timely fashion, after all, the closing time was supposed to be under 30 days. The loans were pushed way past the 30 days, into 60 and finally closed after 90 days time. This allowed American Financial Resources, Inc. to enforce the 30 day employment contract and keep my commission, over $10,000. I called the President/Owner of the company Corey Dubnoff and tried to get an explanation. I was told 30 days is more than fair. I asked for an explanation as to why the loans that were ready to close when I left took 90 days to close, the response was a chuckle. I am pursuing this matter with the proper authorities, The Department of Labor, The Department of Banking and the American Arbitration Association. I am writing this complaint so I can let other loan officers know what type of companies are out there. I guess I should not be surprised...
I applied to AFE for a mortgage on November 15, 2007. It took them 4 months to get to closing. The Good Faith Estimate of closings costs was over $8,000, but at closing they had switched GFE's, and the closing costs were $15,000! They won't give me a copy of my appraisal. Richard Dubnoff, CEO, is a real jerkoff - they are unethical and dishonest, taking over half a person's equity for their 'fees'. Stay away from these scum-suckers.
Me and husband were tring to get pre-approved for an fha loan, got turned down but were told if we could find a co-signer then they would definately help, well 2 mnths pass my dad offered to co-sign so i called them back , i called american financial resources inc back ,ask to speak with the last person who was handeling our case was told he was no longer ther.
The person on the phone told me that he could help he would look thru our case and call me back . Called me back the next day and was going thru our old applacation, and said , the looks of it , you might not need a co-signer, that the last person who was no longer their may have mishandeled the case.
Called back an hour later,as he was going thru my husbands credit report and saw on ther , that he owed money to a community jail.
Asked why he was in jail and i told him an honest answer , not that i thought that was any of his buisness, and asked me if my husband was ever in state pennatentary, i was honest with him , and then the representative (BROKER) told me a bank would never approve an x-felon for a home loan.
After feeling ashamed and humilated he said he would ask his boss to be sure because he did not know their policy and call me back that day, which he did not , nor the next or after
This company poses as a legal service, and even tells peopole they are a loan servicing company. No way, these guys are rip off artists. Stay clear. They take your money and you end up having to pay the bank anyway if you want to stay in your home. I found out after some research that the owner of this company Micah Foster use to be in the adult intertainment industry and owes a lot of people money which is how he ended up scamming people now.
I inquired about re-financing my mortgage from american financial resources in mid May. I was given a good faith estimate at a rate of 4.625%, no points for a 30 year fixed. I provided all the financial data requested in 1 day and also had an appraisal completed in 2 days at my out of pockect cost of $350. I repeatedly called and emailed nick dimilia, representative with no response. When I finalling connected by using an unknown number he informed me that my rate was never locked in and that the current rates were in a point higher that he offered. nick stated that he would call me back the next day after speaking with his supervisor to see what he could do, no call back. i sent an email and inforemed him that i would be filing a complaint. he called the next day an gave me a sales pitch line of he is looking out for me but never made good on covering my out of pocket cost. nick called 2 days in a row to let me know that rates are not good yet and was keeping me in mind. this experience has been not only financial imapctful as it was going to save me $700 per month, out of pocket $350, pulling all the finance info but a total frustrating lies after lies.i flet i needed to come forth so that someone else might not fall for this sales scam.