Consumer complaint received 2025-07-18 00:00:00
Product: Mortgage — Other type of mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Confusing or misleading advertising or marketing
Company: Aspire Mortgage Advisors LLC
State: FL

Complaint narrative:
Date : XX/XX/year> Page XXXX Subject : Formal Complaint Regarding Mishandling of Mortgage Loan by Aspire Mortgage Advisors To Whom It May Concern, I am writing to formally file a complaint regarding the mishandling of a mortgage loan application by XXXX XXXX, President and Owner of Aspire Mortgage Advisors, which has directly and adversely impacted both myself and my wife. 

Background and Timeline of Events : On XX/XX/scrub>XXXX XXXX XXXX I contacted XXXX XXXX XXXX via text to confirm whether Aspire Mortgage Advisors could originate a commercial mortgage loan for a property located in Florida. I clearly explained that the property was being used as a business rental, had an active tenant, and was being purchased as a commercial condominium investment. 

On XX/XX/scrub> XXXX following our conversation, I uploaded complete documentation confirming the property 's commercial status, including : - A fully executed commercial purchase contract between myself and the seller - A copy of the active lease agreement showing the tenant in place - Association documents and the original listing brochure clearly identifying the property as commercial in nature Despite this, XXXX XXXX continued to insist that my wife and I apply for a residential mortgage under our personal names, without ever disclosing that such a structure would disqualify the loan from approval. He proceeded with the loan application as if the property were residential, which we now know was completely inappropriate and ultimately led to the loan being unclosable. 

Core Issues and Concerns : - Misclassification of Property and Loan Type : All documentation provided clearly showed this was a commercial investment property, yet the loan was improperly handled as residential. This decision was made despite repeated disclosures and submission of factual evidence to the contrary. 

- Professional Negligence : As the President and a licensed mortgage professional, XXXX XXXX decision to pursue the wrong loan type demonstrates either a lack of basic due diligence or willful disregard for appropriate lending standards. 

- Material Harm to Borrowers : Our personal credit reports now reflect unnecessary loan inquiries- We lost valuable time under a binding contract with the seller - We face potential loss of the deal and damage to our reputation as buyers- We have endured stress, uncertainty, and financial disruption due to Aspire Mortgage Advisors failure to properly assess the loan from the beginning Date : XX/XX/year> Page 2 Our Position : This is not a case of borrower error or miscommunication. We fully disclosed every material fact from day one and submitted all documentation necessary to properly classify the transaction. The fault lies entirely with Aspire Mortgage Advisors and its leadership, specifically with how XXXX XXXX handled, advised on, and ultimately misstructured this loan. 

The failure to recognize the commercial nature of the transaction and the insistence on submitting it under a residential application caused the situation to fail unnecessarily and wasted valuable time during an active transaction.

Resolution Requested : We respectfully request the following actions : 1. A written explanation from Aspire Mortgage Advisors regarding the decision to process this loan as residential despite overwhelming commercial documentation. 

2. A formal internal review of XXXX XXXX XXXX 's handling of our file and an acknowledgment of the errors made. 

3. The removal or correction of any personal credit inquiries that resulted from this misclassification.

4. A resolution to recognize the disruption and losses caused, and to ensure no further penalties or setbacks result from Aspire Mortgage Advisors actions. 

We have retained complete records of our communications, submitted documents, text messages, file uploads, and contracts, which support our position. We are prepared to provide this information to regulatory agencies, including the Consumer Financial Protection Bureau ( CFPB ), the Florida Office of Financial Regulation, and the Texas Department of Savings and Mortgage Lending, if necessary. 

We share our experience not only to seek resolution for ourselves but in hope to ensure that no one else has to endure this level of incompetence and distress. It is with a heavy heart that we take these steps to have this matter thoroughly investigated and corrected. We hope this will lead to meaningful change and accountability so that others are not subjected to such damaging and unacceptable treatment.

Company response to consumer: Closed with explanation