Consumer complaint received 2017-12-18
Company: American Financial Resources, Inc.
State: CA
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account information incorrect

Complaint:
PLEASE DO NOT USE American Financial Resource Inc. ( AFR ) for your loan application!!! They will screw-up your credit score due to their mis-conduct. They should not allow to do business anymore!!! 

Here is my true experience with American Financial Resource Inc. ( AFR ) recently. 

XXXX XXXX : XXXX Name : XXXX XXXX. 
Property in CA. XXXX I am writing this complaint to share my experience on my re-finance with American Financial Resources Inc. ( AFR ) and XXXX XXXX Bank did not handle my loan transfer/purchase correctly in XXXX XXXX which cause a very bad impact to my current credit report ( Down from XXXX to XXXX ). I had requested American Financial Resources to correct this immediately and also report the correction to all credit bureaus at once. However, they repeatedly screw-up their mis-conduct. 

This was what happened : 1. I had Cash-Out Refinance on my property in XXXX XXXX. The loan was closed on XXXX XXXX, XXXX with American Financial Resources Inc. 
2. I received a letter from American Financial Resources in XXXX XXXX stating that the loan had been purchased by XXXX XXXX. 
3. American Financial Resource continues to send me the mortgage statement monthly even the fact is the company no longer hold any lien to the property and request payment from me. 
4. I have been paying XXXX XXXX bank on time every month since the loan transferred over to XXXX XXXX. 
XXXX. On XXXX statement from American Financial Resource, it stated I have been XXXX months behind on my mortgage payment. 
6. I called AFR in XXXX and questioning about this misconduct and the customer service who I was on the call with me was very unprofessional and she told me that I need to contact XXXX XXXX to clear this issue. At the end she told me that she will report this to other department in American Financial Resource Inc. She then hung up on me. 
7. On XXXX XXXX XXXX, the I checked my credit report monitoring service and noticed that American Financial Resources IncXXXX reported two months late payment to credit bureaus even American Financial Resources Inc. did not hold any lien on the Property since XXXX XXXX. 
8. I called XXXX XXXX couple days later to report this serious mistake and the customer representative asked me to Fax in a written request to XXXX XXXX so that they can follow-up on this matter with American Financial Resources Inc. 
9. After months of phone calls and emails between American Financial Resources and XXXX XXXX, American Financial Resources finally sent me a letter on XXXX XXXX, XXXX and acknowledged their misconduct on their end and will send the correction to the Credit Reporting Bureaus. 
10. I saw the updated correction on XXXX/XXXX/XXXX of my credit report and my score went back to XXXX again. 
11. However, in two weeks later, American Financial Resources once again sent late payment of 120 days report to Credit Bureaus and my score then down to XXXX in couple days. 
12. I sent email again to American Financial Resource ( AFR ) again on XXXX XXXX, XXXX again to ask them to fix the issue. This time, no follow-up AT ALL. 

I am still looking forward to hear an update very soon on this matter from American Financial Resource Inc. 

A very upset customer with American Financial Resource ( AFR ).

Company public response: Company believes complaint is the result of an isolated error
Company response to consumer: Closed with explanation