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 just got a similar letter saying I am "approved" for up to 417,000. The offer is labeled Bill Consolidation Loan Acceptance but upon reading it,it is a re-fi of my mortgage. Not sure if I even call them because at this point,I dont want to refinance although it would be handy to consolidate other debts and have some money left over for needed renovations to my house
I actually sent all info required by AFS for an already "preapproved" mortgage. I applied pursuant to the "preapporoval" in January, 2009. They received my required paperwork and information on Feb. 9, 2009. They thanked me for sending the info so quickly, but I have yet to hear anything else from them. I have left 3 phone messages and 1 e-mail message with no response from them. You will note that the preapproval does say they are fast to approve loans. That does not seem to be the case though.
I would suggest you to contact them once again and get the whole issue clarified. It's been a long time since you have send the information to them.
I received a letter from them today (Rhode Island company) saying I have been preapproved to refinance my FHA mortgage. Anyone get something like that? I'm skepticle with all the scams going on but sure would love to re-fi at a lower interest rate.
Has anyone called them and actually followed thru for a loan with them?
Has anyone called them and actually followed thru for a loan with them?
I just checked on the BBB website. This company is NOT BBB accredited as it says in my letter. There are also 47 complaints against the company. Check it out at BBB.com and do the search for info.
Has anyone completed a loan with them yet?
I too was sent a Pre-Approved Loan Acceptance from AFI Financial.
Ny wife and I (who is a fraud investigator for one of the largest banks in t)he USA) read the document. I tried to look up AFS Financial Inc. on the Better Bussines Bureau Web Site, "WITH NO SUCCES" "SO BEWARE". "IF IT LOOKS LIKE A DUCK, WADDLES LIKE A DUCK, QUAKS LIKE A DUCK. IT'S A DUCK."
Ny wife and I (who is a fraud investigator for one of the largest banks in t)he USA) read the document. I tried to look up AFS Financial Inc. on the Better Bussines Bureau Web Site, "WITH NO SUCCES" "SO BEWARE". "IF IT LOOKS LIKE A DUCK, WADDLES LIKE A DUCK, QUAKS LIKE A DUCK. IT'S A DUCK."
Hi,
To ubrneyedgurl,
Well, with most of people complaining against the AFS, I doubt if anybody has completed a loan with them.
To James,
I think getting a pre-approval letter through e-mail is always a risky option. There is always a chance of getting duped by such loan offers.
To ubrneyedgurl,
Well, with most of people complaining against the AFS, I doubt if anybody has completed a loan with them.
To James,
I think getting a pre-approval letter through e-mail is always a risky option. There is always a chance of getting duped by such loan offers.
Been around 25 years. One of largest mortgage companies in New England. They're legit. Disclosure: I did work for them from '93-'99.
Well see, I was told 2 weeks til close, I will keep intouch.
So, i have been reading the posts in here - after receiving a mailer myself - did some checking, and this company is located in my town! I am going to check them out tomorrow in person if i get the chance, and if not then on monday, as i have been looking for an FHA refi for our house/bills. For what its worth, i am pretty sure that i know exactly where this company is, and from what i remember they have been here for years and are in a nice looking building - not some cheap/shabby storefront or some overnite type operation. This is for AFS Advanced Financial Services, Inc - by the way... there appear to be many similarly named companies out there (some i would be are knockoffs).
Also - for what it's worth, i work in the construction industry and our company buys and sells property so i have been involved in many commercial loans and closings. There is always tons of paperwork, things seem to always change somewhat at the last moment, and we have been trained to double check everything (not all errors are purposeful or deceitful - but then again, there is always that chance that some are) - so i would be much more concerned about a company that bigger complaints/problems than have been mentioned here so far for AFS.
Just my few cents - but will be happy to share next week what i find out in person (also - just my experience talking - i would never finalize a loan without being able to at least see the mortgage/loan rep in person)
Also - for what it's worth, i work in the construction industry and our company buys and sells property so i have been involved in many commercial loans and closings. There is always tons of paperwork, things seem to always change somewhat at the last moment, and we have been trained to double check everything (not all errors are purposeful or deceitful - but then again, there is always that chance that some are) - so i would be much more concerned about a company that bigger complaints/problems than have been mentioned here so far for AFS.
Just my few cents - but will be happy to share next week what i find out in person (also - just my experience talking - i would never finalize a loan without being able to at least see the mortgage/loan rep in person)
Any new info on
the AFS from RI. I received a letter today
the AFS from RI. I received a letter today
Welcome JJ,
Did you apply for a loan with AFS from Rhode Island? Loan offers through e-mails or letters are not always safe. I would suggest you to do some research about them and then decide whether you should take a loan from them or not.
Did you apply for a loan with AFS from Rhode Island? Loan offers through e-mails or letters are not always safe. I would suggest you to do some research about them and then decide whether you should take a loan from them or not.
Just wanted to point out a some thing. After reading all the posts here I am skeptical to say the least. Also I want to remind every one here and every one that reads this subject that any and all post here that are positive ie: (I got refi through them today my credit score was 745. They are great.) These type of posts can be faked. I am not saying they are but I feel compelled to say it any way just so some folks do not go and say well I read that they are really great and yada yada yada. Only to find out that some yahoo that works for AFS has been monitoring this and other sites like it looking for bad posts and posting positive things to try and counter balance the bad.
We received their mailing to called and yes they want us to pay $300 sum for an appraisal which at this point in time we do not have. Also they have told us that we can get 5.5% which is a little better than we got right know but we were also told that if we wait that the interest rate could go up or down depending on the interest rates. At the time when they quoted the 5.5% mortgage interest rates were 5.1% sounds a little deceptive on their part.
Remember if it seems to good to be true it is to good to be true.
We received their mailing to called and yes they want us to pay $300 sum for an appraisal which at this point in time we do not have. Also they have told us that we can get 5.5% which is a little better than we got right know but we were also told that if we wait that the interest rate could go up or down depending on the interest rates. At the time when they quoted the 5.5% mortgage interest rates were 5.1% sounds a little deceptive on their part.
Remember if it seems to good to be true it is to good to be true.
:?: I received this pre-approved letter and the first opening sentence said "I think we missed something when you last called". Then it talks about taking the liberty to review my situation. Never called them and never talked to anyone from the company before I received the letter. I scredded the letter and haven't talked to anyone from AFS Financial, Inc.
Be careful!!!!
Be careful!!!!