Posted on: 04th Dec, 2006 04:39am
Advanced Financial Services, Inc. is a financial institution providing mortgage lending services and bill consolidation loans. It is based in Rhode Island but it is licensed to operate in a number of states. In some states, Advanced Financial Services operates as AFS Financial Inc.
What are consumers saying about Advanced Financial Services?
In spite of getting an A+ rating from the BBB, the company has received mixed reactions from consumers who have opted for their services. They have shared their feedback about this company in our community forums. There have been complaints against Advanced Financial Services whereas some of the consumers seem to be quite happy with the services offered by AFS Financial Inc. Here's what consumers have to say about AFS (Advanced Financial Services Inc.):
While some consumers have sent their complaints against Advanced Financial Services, others are of the opinion that the company isn't pushy at all. Though the company may send you flier mails for pre-approval, they do not use your personal information, except the name and address when sending the flier mails. Some consumers claim that there may be complaints against Advanced Financial Services (as revealed in BBB reports), but the company has resolved every complaint to BBB's expectations.
If you wish to go for the services of AFS (Advanced Financial Services Inc), or if you'd like to talk to a representative at the company, you may use the contact details given below.
Advanced Financial Services
25 Enterprise Center
Newport, R1 02842
Phone: 1(800) 644-3327
Fax: 1(800) 333-3450
Website: "http://www.myafsloan.com/"
- Affiliation: The company claims to be approved by Fannie Mae/Freddie Mac and the HUD but consumers are quite skeptical about it as they haven't found details of the affiliation on the websites of Fannie Mae/Freddie Mac or HUD.
The company says they are an active member of Mortgage Bankers Association of America and the National Home Equity Mortgage Association. But consumers say, the websites of these organizations do not speak about any affiliation with AFS. - Delayed closing: A borrower missed signing 2 documents but the loan officer at AFS didn't inform him about it. Instead, he kept delaying the closing. The person made repeated calls and each time he was given a closing date, but nothing actually happened. Finally, the borrower called and he was told that his loan has been denied. They cited the reason that he hasn't paid the first mortgage payment. But it wasn't the borrower's fault because the loan wasn't yet closed.
- Advertising low rates: AFS may send you mails promising to approve you for a bill consolidation loan at a low rate of interest. But once you go through the loan process, you may be approved for a loan at a much higher rate. Thus, you may not be able to save as much as they initially promised you.
- Dispute over financing issues: A guest in our forums has spoken about his dispute with AFS Financial Inc. regarding a mobile home loan. He says he had a very bad experience with the company. He had faxed the required papers to AFS for a mobile home loan approval. He had even paid them around $375 for the appraisal and finally he came to know that the company doesn't lend mobile home loans. After repeated calls and messages, the person could only get $100 as refund.
- Flier mails: The marketing department at AFS (Advanced Financial Services, Inc.) may send you mails stating that you're pre-approved for a bill consolidation loan. But this doesn't mean that you're approved. You'll have to go through the entire loan process in order to get an approval. So, it may be just a flier mail to promote the products of AFS and make you contact them in case you wish to choose their services.
- Response to customer calls: The official website of AFS (Advanced Financial Services, Inc) says the company is fast in approving loans. But there are consumers who have sent all necessary paperwork to AFS for pre-approval only to get no response from them even after repeated phone calls and email messages.
While some consumers have sent their complaints against Advanced Financial Services, others are of the opinion that the company isn't pushy at all. Though the company may send you flier mails for pre-approval, they do not use your personal information, except the name and address when sending the flier mails. Some consumers claim that there may be complaints against Advanced Financial Services (as revealed in BBB reports), but the company has resolved every complaint to BBB's expectations.
If you wish to go for the services of AFS (Advanced Financial Services Inc), or if you'd like to talk to a representative at the company, you may use the contact details given below.
Advanced Financial Services
25 Enterprise Center
Newport, R1 02842
Phone: 1(800) 644-3327
Fax: 1(800) 333-3450
Website: "http://www.myafsloan.com/"
Related Forum Discussions
Had anybody use Advanced Financial Services, Inc. (AFS)? They sent me a preapproval file in the mail. They list their address as 25 Enterprise Center, Rhode Island, 02842 with an 800 number.
I used to work at AFS. They are predators and equity strippers and they do it with pride. I was young when I first started and I was not a homeowner either. I thought to myself - I guess this is how the mortgage world works (the above industry rates and excessive fees). When I left there and went to a legitimate lender I felt like burying my head in the sand. I stole from people. Then after I realized why they would hire someone like me - they do not want people with mortgage experience! They want new meat because experienced people would look at the excessive rates and fees and know it was a business to rob the consumer. Which it is.
that's a powerful assertion, H25. i'm glad you learned the proper side of the business. i suppose you can make good out of evil by using what you learned there to provide better service on this end.
AFS was one of the first 3 companies to respond to my LendingTree.com application and offered me a pretty good rate, but we ended up not going through with the refi at that time. A few months later we were ready, so I called them up, we updated our information with them, they emailed me a new offer (with an even lower rate) and I compared it with other offers. I was skeptical because of their name change, but their offer was the best and the broker very pleasant and easy to get ahold of. So we scheduled the appraisal and paid $375. So here I sit with this paperwork, and now I'm nervous. I didn't receive any outrageous offers in the mail (I'm not one to go for those anyway), but rather I went to them I guess through lending tree. I've read through all the paperwork and it SEEMS fair and reasonable. I'm just nervous about signing all this paperwork, being obligated to pay any extra fees and then ultimately being denied. OR, even worse, getting the loan and them something going horribly horribly wrong during the life of the mortgage. I've tried researching more about this company online, but don't really find any information about their loans. Only their aggressive soliciting techniques. Any advice?
ncsm - i happen to favor working with someone you have awareness of, whether that's from personal knowledge or a referral from a trusted party, but that's not to say that lending tree is bad.
it seems you've only ponied up $375 for an appraisal; that's not bad, and you should see a good faith estimate to try to determine what other fees they have that are out of the ordinary. if, of course, they're not out of the ordinary, then it'd also appear that you're not jeopardizing much of your money here.
it seems you've only ponied up $375 for an appraisal; that's not bad, and you should see a good faith estimate to try to determine what other fees they have that are out of the ordinary. if, of course, they're not out of the ordinary, then it'd also appear that you're not jeopardizing much of your money here.
an employee.
Nothing more to it. I've received letters from this company excitedly informing me that as a homeowner (I'm not) with good credit (It's bad) I qualify for hundreds of thousands in loans (I don't).
Nothing more to it. I've received letters from this company excitedly informing me that as a homeowner (I'm not) with good credit (It's bad) I qualify for hundreds of thousands in loans (I don't).
how come i'm not surprised to learn of that kind of mass marketing? thanks for the additional information on them, Doesn't Matter.
maybe one day people will stop responding to their promises and see them as fool's gold.
maybe one day people will stop responding to their promises and see them as fool's gold.
Like most people on here, I recieved a pre-approved Bill Consolidation Loan packet from this company several months ago. Today I decided to do some research on the business to decide whether I wanted to contact them or not. I still have not made a decision on that, but just wanted to let other people who have posted here know that AFS Financial, which has now changed its name to Embrace Home Loans, Inc., is in fact a BBB Accredited Business since 8/11/09. You can check this out on bbb.org for yourself.
regrettably, the better business bureau has lost a lot of its credibility in the last few years, having granted the best of marks to those who are fully-paying members. some of those had horrendous publicity, yet still achieved at the highest level according to bbb.
i now look askance at ratings from the bbb as a result.
i now look askance at ratings from the bbb as a result.
so these Embrace loans are a scam??? are there any legitimate companies that i can consolidate my mortgage and student loans to a rate under 5%? I have about 200 grand to refi total????
and i have great credit, close to an 800 rating...my current lender is Wells Fargo, i got bumped over from Wachovia, they got nothing for me.... very very very frustrating... i pay all my bills on time and have money in savings!!!!!!!
You can contact the local debt consolidation companies in your area and check out what type of terms and conditions they are offering you. It will help you in selecting the one that will help you in a better way and let you consolidate your debts.
My credit union has done all they can to help us. We have huge credit card debt, and I have lost my job. Where can we turn to get a safe low rate loan? Bankruptcy, seems to loom in our future.
Hi nikki!
Welcome to forums!
With a huge credit card debt and no job at this moment, it will be impossible for you to qualify for a loan. You can have a word with your creditors and try to get a repayment plan in order to pay off the dues. If your creditor agrees to give you a payment plan, you would be able to pay off the dues in an affordable. However, if he is not ready to give you such a plan, then you may have to file bankruptcy.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
With a huge credit card debt and no job at this moment, it will be impossible for you to qualify for a loan. You can have a word with your creditors and try to get a repayment plan in order to pay off the dues. If your creditor agrees to give you a payment plan, you would be able to pay off the dues in an affordable. However, if he is not ready to give you such a plan, then you may have to file bankruptcy.
Feel free to ask if you've further queries.
Sussane
Did your company assign this mortgage to Nationstar Mortgage, LLC?
You know they changed there name in 2009, to Embrace Home Loans? Why