Posted on: 11th Mar, 2009 03:07 pm
Does anyone have any information on Advanced Financial Services (AFS)? Are they affiliated with FHA?...Received a brochure today from Advanced Financial Services and I am seriously considering refinancing my home to obtain a lower interest rate and consolidate some credit card debt. Trying to find out some details about this company, and if they are reputable. If anyone has any information that they could share with me, I would greatly appreciate it.
Hi beatricellen!
Welcome to forums!
As far as I know, Advanced Financial Services is an approved servicer of Fannie Mae and Freddie Mac loans. It also has FHA direct endorsement approval. Apart from this, it is also an active member in the Mortgage Bankers Association (MBA).
Some of the community members and experts have given their opinion about Advanced Financial Services in this forum. You can check out their opinion in the given page:
http://www.mortgagefit.com/know-how/about5856.html
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
As far as I know, Advanced Financial Services is an approved servicer of Fannie Mae and Freddie Mac loans. It also has FHA direct endorsement approval. Apart from this, it is also an active member in the Mortgage Bankers Association (MBA).
Some of the community members and experts have given their opinion about Advanced Financial Services in this forum. You can check out their opinion in the given page:
http://www.mortgagefit.com/know-how/about5856.html
Feel free to ask if you have further queries.
Sussane
what is a direct endorsment lender?
Hi jpando,
Direct endorsement lenders are those HUD-approved lenders who are allowed to conduct processing, underwriting and closing of FHA single family loans without the prior approval of FHA. Borrowers can also get mortgage insurance directly with a direct endorsement lender. It makes the process of originating loans much easier and faster.
Direct endorsement lenders are those HUD-approved lenders who are allowed to conduct processing, underwriting and closing of FHA single family loans without the prior approval of FHA. Borrowers can also get mortgage insurance directly with a direct endorsement lender. It makes the process of originating loans much easier and faster.
Direct endorsement is the way to go like Jenkin is saying if they approve your loan its a firm commitment
:lol: just finished refinance with afs, fantastic. took 3 weeks and all went smooth. paid of 18% credit cards with 5% afs loan and now even lower mortgage rate. you need to get all your ducks in a row first... good credit or don't try: know your home value and don't expect that you might luck out with higher than worth value. have past two years of tax returns ready and off you go. went extremely fast and smooth. thanks, jen at afs. russ
I received the unsolicited pamphlet from this company claiming pre-approval and a specific amount I can borrow up to. Did they really check my credit score and approve me or is this just something they send to everyone? I know they looked into my personal finances somewhat because the amount of my mortgage is listed on the back. Are the figures in the offer based solely on info concerning my current debts, making the entire deal contingent on having a high enough credit score when they do check it?
direct endorsement is firm commitement from lender side or borrower side?
Dont waste your time and money with AFS. Everything seemed to go well at first then I paid the $375 for the home survey then I never heard from them again. They are crooks. When I called the customer service rep I was given the email address to they top dog so I emailed him. No surprise that I did not hear from him either. They will just take your money and leave you depressed. You are better off going with a local mortgage lender from your area and stay away from lenders that send you mailings promising you the world. They are just cons. Keep your money local and learn from my misfortune.
Don't waste your time. This company has taken 3 months to approve a loan and it is still not done. They have cost me thousands because they knew it had to be done by a certain date and it wasn't. Please, trust me go someplace else.
My husband and I have dealt with AFS and have had no problems, they were very nice and not pushy...they kept on top of things and we had NO problems with them...If we had to do it over again, we would go through them, and we enjoyed working the person who was handling our loan.
We used them twice for refinancing and they we were satisfied with their service. We did receive a flyer and everything was done via mail but it was legitimate.