Consumer complaint received 2024-01-27
Product: Mortgage — FHA mortgage
Issue: Closing on a mortgage — Delays with the closing process
Company: American Financial Network Inc. (FL)

I am a Realtor with XXXX XXXX XXXX XXXX XXXX in XXXX, FL. I was working on behalf of the Seller and I received a signed Contract and a Preapproval Letter from American Financial Network Inc on XX/XX/, through the Selling Agent. Initially, we had a Closing Date of XX/XX/2023, but changed it to XX/XX/2023 to coincide with my Seller 's closing on her new home. XXXX XXXX XXXX was listed as the contact person at XXXX XXXX. The loan application consisted of 5 Buyers, all related to one another. 

Here is the information listed in the letter : XXXX XXXX XXXX XXXX Branch Manager XXXX  # XXXX American Financial Network , Inc . 
XXXX is a Direct Lender and Equal Housing Lender XXXX XXXX XXXX, XXXX PA XXXX | Phone : ( XXXX ) XXXX I contacted XXXX XXXX to introduce myself upon receipt of the letter. He shared with me that the Buyers were " good to go '' and could possibly close early. When I asked him " how soon '' with a message that I left on his voicemail after hanging up, he responded later that evening to say that the Agent did not want to close any earlier than the Contract Date. I asked XXXX XXXX when could I expect the appraisal to be done and he said that he would get back with me. A few weeks went by and I called him again to inquire about the Appraisal and left numerous voicemails over a week 's time. He finally called me back to say that he had been hospitalized and would have his " assistant ' take care of it. For the next few weeks, I made several calls to him and had to leave messages because I got his voicemail. I called the Agent to see if she could get in contact with him about the Appraisal, as he was not returning my calls. She told me that he was in an airplane from Thursday to Monday. Really! He said that she has known him for quite a while and was a dependable person. Well, I don't know if she contacted him or not, as I never heard from him. The Title Company had even tried reaching him, asking for information, to which he did not respond. 

On XX/XX/2023, I contacted the Agent to see if her Buyers were prepared for Closing on XX/XX/2023 and she informed me that she thought it was the XXXX. Needless to say, both the Agent and Loan Officer were not cooperating in this transaction. On XX/XX/XXXX, the Agent informed me that the Closing was off for XX/XX/2023 because the Appraisal had " fallen through the cracks '' and that one of the Buyers never sent in the documents required of him/her. I even tried to call XXXX XXXX after getting this news, and again, I had to leave a message on his voicemail. To this day, we never spoke again, after telling me that he was " working '' on getting an appraisal. I was really suspicious of him when he told me that. Don't mortgage lenders work closely with appraisers, so why was this such a difficult task. Needless to say, the actions of XXXX XXXX ( and the Agent ) prevented two Closings for my Seller to take place. Since my Seller had packed and anticipated on the Closing, she ended up selling to Open Door, which we are aware how they work. Due to the negligence of the Lender and Agent, my Seller lost out on thousands of dollars.