American Financial Resources Sylvan Way, Parsippany

American Financial Resources Reviews

• A

  Andy Campbell
  1

  I am a contractor who was engaged by a customer with AFR to do a 203k loan renovation on a foreclosed property they represented. After four months of multiple requests for paperwork that had already been sent, rewriting the quote for work 12 times to comply with their ridiculous formatting request and putting off my subcontractors again and again because of their delays eventually they pushed the closing date out so far that the work had no chance of being completed on schedule. Still they pressured the buyer to put down "unrefundable" deposits to "hold" the property when I'm certain they knew the project wouldn't go through. This company is predatory and they will take everything they can from you with no regard. I can't stress highly enough if you are a buyer looking for a mortgage stay clear of these guys, if you are a contractor don't get involved, I wasted 4 months of my life trying to work with these people thousands of dollars of my time only to watch them torpedo every effort

• N

  Nate Kenady
  1

  Absolutely awful company. I had surgery that put me out of work for 4 months. Being proactive I asked to have lessened or deferred payments. They said during the review I would not need to make payments and after two months we were allowed to make half payments which we thought was very nice of them. However they then reported us to the credit bureaus as having delinquent late payments and when I was able to return to work the increased our payments from $600 to $1600 saying we had plenty of disposable income. We explained to them that we had 5 children so there is no disposable income especially for that kind of increase and their reply was “our numbers don’t care how many kids you have. ” Do whatever you have to do. But I can say I fully regret ever refinancing with this cutthroat company

  Response from the owner

  We are disappointed to learn that you encountered an issue with your deferred payments. We’d like to follow-up with you directly. Please contact our Executive Vice President at 973.585.5907.

• P

  Patrick Murphy
  1

  AFR does refinance mortgages through a marketing subsidiary ELEND. The company does not provide good service to the applicants. In Sept'16 we applied and in Dec.'16 they withdrew their mortgage rate of 3.22 to raise to 4+. The employees were so incompetent that the loan was never completed. Very slow, poorly trained, etc. We suspect that ELEND realized that mortgage rates were rising and wanted out of our refinance. Unfortunately the BBB of NJ can do nothing and AFR refuses to reimburse us the $500 out-of-pocket expense for an appraisal. BTW, couple has 800+ credit scores, no debt, etc. Avoid this lender.

• S

  Sadia Bihi-Gilmour
  2

  The closing took 5 hours today. Too many cooks in the kitchen, a deal that would normally take 6-8 weeks ended up taking over 12 weeks. I represent the seller and I felt really bad for them. The buyers were also very patient. The mtg company, disorganized, kept asking for paperwork that was sent to them months before, issue after issue. Would never recommend this company.

• K

  KJ Fozel
  1

  WORST service ever. Their slow process made us extend extend closing THREE times. Their underwriters like to play games I think they read one page of a loan at a time and ask for things that should have been asked for weeks ago.

• B

  Bre Hillem
  2

  The worst closing I have had with a bank in my 20 year career as a loan officer. They took 4 months to close my customer's loan. They kept saying they needed docs that were clearly seen by us in their website. They pressured me to lock my customer and if I had, the lock would have expired due to their dragging out the process and the customer would have had a higher rate. Once all conditions were sent in they decided at the last minute to add two more conditions that could have been asked for earlier in the process and that caused the loan to take another 10 days to close. The account rep was rude and defensive and took forever to get back to us. Internal staff just as bad. Ugly and embarrasing experience. Stay away; whether you are a loan officer or a customer!!! If I ever have another loan that would have to go to them because no one else offered the program, I would save myself & the customer the frustration and pass on doing the loan. A two year old could have done a better job on this loan than they did !!

• A

  Abraham Abdallah
  1

  I give a negative 10 stars.The worst company to use. Don't use them, there inexperienced and take forever. 4 months of waiting. I refinanced two other mortgages and purchased a new property in less than 60 days while there still asking for documentations to refinance my mortgage. Totally the worst................ negative*, negative*, negative*, negative****

• K

  Kee Sims
  1

  this is the worse company ever, everytime i call, its 2hr old just to spk to someone who doesn't even know math, I've spk to 4 different reps James, Mary who adv me of my options on 7/8/21, i called back and spk to a Tony on 7/12/2021, couldnt understand anything he was talking about, , and today a Laura, who didnt know what she was talking about, I req a sup, she tells me its going to be a 2hr hold, then threats to disconnect the call and refuse to provide corp #, I will be taking my loan else where this company is B.S

• T

  Todd Werling
  5

  I recently purchased a house in NJ. As we know the process can be very daunting. American Financial Resources/E-Lend made sure the transaction went smoothly. Joe Amelio worked with me explaining my options and was able to make sure I received the best possible rate. The exchange of documents was easy and the communication along the way was great. I would recommend using American Financial Resources/E-lend for your mortgage needs.

  Response from the owner

  Thanks for your positive feedback and sharing your experience with eLEND! We value having you as a customer and appreciate you taking the time to let us know what we are doing well.

• C

  Cathy Beck
  5

  I refinanced with AFR (eLend) and I can honestly say it was a pleasure to work with them. Lowered my rate, cut a few years off my mortgage. They were super helpful during the process. If I needed them, they were available for a call, but mostly done online (which was very easy to navigate and convenient). Highly recommend!!