|
5928514
|
2022-08-29
|
Trouble during payment process
|
Mortgage
|
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
AmeriFirst Financial Corporation
|
| Product |
Mortgage
|
| Sub Product |
FHA mortgage
|
| Date Received |
2022-08-29
|
| Submitted Via |
Web
|
| Company Response |
Closed with monetary relief
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2022-08-29
|
| Company Public Response |
Company believes the complaint provided an opportunity to answer consumer's questions
|
| Complaint What Happened |
XX/XX/XXXX : Amerifirst has stated in an email there was a hiccup in closing documents. Informed they did not factor the cost of monthly mortgage payments into closing papers.
Amerifirst Renovation & Construction Draw Processing office is informing we will need to allow a corporate advance of {$5400.00} and the bank is to also keep the 10 % contingency of {$4800.00} ( we were to receive for reimbursements ) to cover final draw to contractor.
Renovation & Construction Draw Processing office will not respond to emails requesting updates. They have called twice and emailed once requesting a call back to answer any questions. As of XX/XX/XXXX an email was sent requesting all correspondence be sent via email.
XX/XX/XXXX Contacted Corporate Director/assistant director of XXXX renovations ( draw office ). Return call on XX/XX/XXXX received, they requested we accept a corporate advance '', we declined and asked why it was not deferred as stated previously. On a return call XX/XX/XXXX, were informed the situation was escalated on our behalf and we would here from them the following Monday ( XX/XX/XXXX ). No call was ever received. Left a message requesting an update XX/XX/XXXX and not heard from anyone as of XX/XX/XXXX.
According to FHA/HUD website explained that monthly payments were deferred until renovations are completed. HUD consultant informed during initial consult this was how the payments were covered.
We were never notified at anytime during the 5 months of renovations that there was a problem. When we received emails stating payments were made on our behalf, we considered it was a deferment they were referring to.
No explanation or details of what a corporate advance is or how it works, etc. has been provided. Corporate advance to my understanding is for persons who are in bankruptcy to prevent foreclosure. This is not the case, thus why we declined. Price of home was {$120000.00} with {$48000.00} in renovations. Total at closing was approx. {$190000.00}. Anything over this amount will exceed loan to value of the property. We do not see a reason why the payments were not deferred as we were told numerous time it would be covered or taken care of.
All funds are being withheld at this time until we agree to the corporate advance.
Payments were to be deferred until completion of renovations as the house was could not be occupied. We asked of this many times during the waiting period from XXXX XX/XX/XXXX until closing XX/XX/XXXX.
Many delays in closing occurred due to poor communications, our documents changing hands numerous times. The loan officers kept switching us to different loans each time increasing the interest rate instead of locking in the rate. Mistakes were caught time and again with closing totals, estimates, list of work being done, documents requiring signatures, type of loan being financed, etc. All of which caused a 3 month delay in closing and an increase in the interest rate. Some situations occurring during that time were done so with out our knowledge or approval.
We have not been provided with any documentation within our closing documents stating the bank has the right to withhold funds.
|
| Consumer Consent Provided |
Consent provided
|
|
|
3457797
|
2019-12-04
|
Trouble during payment process
|
Mortgage
|
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
AmeriFirst Financial Corporation
|
| Product |
Mortgage
|
| Sub Product |
VA mortgage
|
| Date Received |
2019-12-04
|
| Submitted Via |
Postal mail
|
| Company Response |
Closed with monetary relief
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2019-12-04
|
| Company Public Response |
Company has responded to the consumer and the CFPB and chooses not to provide a public response
|
| Consumer Consent Provided |
N/A
|
|
|
3535617
|
2020-02-18
|
Applying for a mortgage or refinancing an existing mortgage
|
Mortgage
|
|
| Issue |
Applying for a mortgage or refinancing an existing mortgage
|
| Timely |
Yes
|
| Company |
AmeriFirst Financial Corporation
|
| Product |
Mortgage
|
| Sub Product |
FHA mortgage
|
| Date Received |
2020-02-18
|
| Submitted Via |
Web
|
| Company Response |
Closed with non-monetary relief
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2020-02-18
|
| Company Public Response |
Company believes it acted appropriately as authorized by contract or law
|
| Complaint What Happened |
I have repeatedly asked Amerifirst Mortgage to refinance our loan.
I've gotten many excuses.
How can we get help for a lower monthly payment?
I've been working on this since XX/XX/2019.
|
| Consumer Consent Provided |
Consent provided
|
|
|
2273323
|
2017-01-03
|
Loan servicing, payments, escrow account
|
Mortgage
|
|
| Issue |
Loan servicing, payments, escrow account
|
| Timely |
Yes
|
| Company |
AmeriFirst Financial Corporation
|
| Product |
Mortgage
|
| Sub Product |
FHA mortgage
|
| Date Received |
2017-01-03
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
No
|
| Date Sent To Company |
2017-01-03
|
| Company Public Response |
Company believes the complaint is the result of a misunderstanding
|
| Consumer Consent Provided |
Consent not provided
|
|
|
3238145
|
2019-05-10
|
Applying for a mortgage or refinancing an existing mortgage
|
Mortgage
|
|
| Issue |
Applying for a mortgage or refinancing an existing mortgage
|
| Timely |
Yes
|
| Company |
AmeriFirst Financial Corporation
|
| Product |
Mortgage
|
| Sub Product |
Other type of mortgage
|
| Date Received |
2019-05-10
|
| Submitted Via |
Referral
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2019-05-22
|
| Company Public Response |
Company believes it acted appropriately as authorized by contract or law
|
| Consumer Consent Provided |
N/A
|
|
|
4179680
|
2021-03-03
|
Applying for a mortgage or refinancing an existing mortgage
|
Mortgage
|
|
| Issue |
Applying for a mortgage or refinancing an existing mortgage
|
| Timely |
Yes
|
| Company |
AmeriFirst Financial Corporation
|
| Product |
Mortgage
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2021-03-03
|
| Submitted Via |
Web
|
| Company Response |
Closed with non-monetary relief
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2021-03-03
|
| Company Public Response |
Company believes the complaint is the result of a misunderstanding
|
| Consumer Consent Provided |
Consent not provided
|
|
|
4616721
|
2021-08-09
|
Trouble during payment process
|
Mortgage
|
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
AmeriFirst Financial Corporation
|
| Product |
Mortgage
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2021-08-09
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2021-08-09
|
| Company Public Response |
Company believes the complaint provided an opportunity to answer consumer's questions
|
| Complaint What Happened |
Sorry, I didn't see any drop down selection for a complaint related to PMI waiver under the HPA.
I called my mortgage servicer, Amerifirst Home Mortgage, on XX/XX/21 to ask them to commence a PMI waiver. They asked me to provide a list of improvements made since I purchased that property a year ago. I asked them to confirm if they needed receipts or other documentation. They said no.
A few days later on XX/XX/21 I received a canned email saying they got my list of improvements and that I should call them again to pay for the BPO / Appraisal. When I called on XXXX they said they would not order the BPO / Appraisal until I submitted itemized receipts for the improvements. Per discussion with the manager, they said this was a requirement from XXXX / XXXX. Per the provisions of the HPA I don't see any reference to these additional requirements to obtain the BPO / Appraisal.
|
| Consumer Consent Provided |
Consent provided
|
|
|
4236293
|
2021-03-22
|
Applying for a mortgage or refinancing an existing mortgage
|
Mortgage
|
|
| Tags |
Older American
|
| Issue |
Applying for a mortgage or refinancing an existing mortgage
|
| Timely |
Yes
|
| Company |
AmeriFirst Financial Corporation
|
| Product |
Mortgage
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2021-03-22
|
| Submitted Via |
Web
|
| Company Response |
Closed with non-monetary relief
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2021-03-22
|
| Company Public Response |
Company believes it acted appropriately as authorized by contract or law
|
| Complaint What Happened |
In XXXX I applied for and received a XXXX XXXX XXXX for my property at XXXX XXXX XXXX. In XX/XX/XXXX, I applied for a refinance of my construction loan with Amerifirst Home Mortgage.
My underwriting file was forwarded to XXXX Underwriting Department on XX/XX/XXXX as documented by an e-mail from XXXX XXXX, Renovation Sales Manager. I was denied approval of my loan on XX/XX/XXXX. I requested this denial due to being negatively impacted by Covid-19.
I have written Amerifirst regarding their failure to provide a timely loan decision. I have enclosed their response asserting full compliance with XXXX.
From XX/XX/XXXX to XX/XX/XXXX, Amerifirst did not request any additional information from me. Prior to XX/XX/XXXX I provided my tax returns, compensation statements, bank statements and retirement account statements. From XX/XX/XXXX to XX/XX/XXXX, my credit report was run, an appraiser was appointed and a survey was conducted. I was even promised a closing date in XXXX.
Amerifirst 's failure to provide a timely credit decision and taking actions that would indicate loan approval ( survey, appraisal, title company etc. ) resulted in significant financial harm to me and my family. If I was given a timely denial of credit I could have possibly secured an alternate source of refinancing.
In addition, the appraisal ( s ) used in my refinancing contained factual errors as well as failure to follow well established appraisal methodologies for excess land. I have filed complaints with the State of Florida regarding the two appraisers. The key issue here is that the loan to value ratio should be below 80 % and PMI should be avoided. With the flawed appraisal reports, my loan continues to require PMI and the associated premium.
I have provided you with the relevant letters that I wrote and Amerifirst 's response. I have provided a timeline of this transaction.
|
| Consumer Consent Provided |
Consent provided
|
|
|
4933518
|
2021-11-21
|
Applying for a mortgage or refinancing an existing mortgage
|
Mortgage
|
|
| Issue |
Applying for a mortgage or refinancing an existing mortgage
|
| Timely |
Yes
|
| Company |
AmeriFirst Financial Corporation
|
| Product |
Mortgage
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2021-11-21
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2021-11-21
|
| Company Public Response |
Company believes it acted appropriately as authorized by contract or law
|
| Consumer Consent Provided |
Consent not provided
|
|
|
5519083
|
2022-04-29
|
Trouble during payment process
|
Mortgage
|
|
| Tags |
Servicemember
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
AmeriFirst Financial Corporation
|
| Product |
Mortgage
|
| Sub Product |
VA mortgage
|
| Date Received |
2022-04-29
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2022-04-29
|
| Company Public Response |
Company believes it acted appropriately as authorized by contract or law
|
| Consumer Consent Provided |
Consent not provided
|
|
|
4091358
|
2021-01-25
|
Trouble during payment process
|
Mortgage
|
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
AmeriFirst Financial Corporation
|
| Product |
Mortgage
|
| Sub Product |
FHA mortgage
|
| Date Received |
2021-01-25
|
| Submitted Via |
Web
|
| Company Response |
Closed with non-monetary relief
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2021-01-25
|
| Company Public Response |
Company believes the complaint provided an opportunity to answer consumer's questions
|
| Consumer Consent Provided |
Consent not provided
|
|
|
4609597
|
2021-08-07
|
Applying for a mortgage or refinancing an existing mortgage
|
Mortgage
|
|
| Tags |
Older American
|
| Issue |
Applying for a mortgage or refinancing an existing mortgage
|
| Timely |
Yes
|
| Company |
AmeriFirst Financial Corporation
|
| Product |
Mortgage
|
| Sub Product |
FHA mortgage
|
| Date Received |
2021-08-07
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2021-08-07
|
| Company Public Response |
Company believes it acted appropriately as authorized by contract or law
|
| Consumer Consent Provided |
Consent not provided
|
|
