Complaints
Customer Complaints Summary
- 16 total complaints in the last 3 years.
- 3 complaints closed in the last 12 months.
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Submit a ComplaintThe complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.
Initial Complaint
Date:10/18/2024
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I have used Aimloan multiple times to buy properties and to refinance going as far back as 2007. I recently sold a rental property for which Aimloan was the servicer of the loan and the balance of the escrow account was supposed to be returned to me. The balance was over $3k however I only received initially a check for $367.08. It appears that the shortage occurred when the servicer paid the property taxes at some point AFTER the closing on the property. In other words, funds from my escrow paid the property taxes on a home that I no longer owned. Additionally, the property taxes was taken care of out of the proceeds from when the home was sold. I was only responsible for the taxes between 1-17 July 2024 (paid at closing) and the servicer paid the full taxes covering 07/01/2024 - 06/30/2025. I called to notify Aimloan of the discrepancy and a couple of weeks later I received another check for $1432.83. While I appreciate that I received some of my funds back I was still short $1399.98. Since then I have called back and was told that they would look into it and refund the rest. However after several weeks I have not heard back. A shortage of nearly $1400 is not a small deal and the fact that I'm not hearing back from Aimloan and I have to continue to chase them for the balance is not a good look. They after-all... are not disputing that I was shorted... but they are not providing a proper followup nor providing the funds in a timely manner.
Business Response
Date: 10/22/2024
Prepared chronology of events. I think this will help our customer with understanding the timeline. We provided check copies to address proof refunds were issued. The refund in question for $1399.98 turned out to be a post office delay.Customer Answer
Date: 10/22/2024
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution would be satisfactory to me. I will wait for the business to perform this action and, if it does, will consider this complaint resolved.
Regards,
***** ******
Initial Complaint
Date:07/12/2023
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
Aim Loan, my 1st TD lender on my home, advertises a refinance or equity loan there in addition to all my loan information, including my property valuation of $306,000. This is normal and the middle range ($284,000 - $320,000) of other lenders and real estate sites. I filled out their form for an equity loan, for $45,000, 15 years at 9.7%. Then I completed an application to process this loan. The valuation they used on my property, now came in with $272,000 valuation, lowering my qualification amount. To me this is a LOW BALL attempt to possibly offer a cheap buy-out or HIGHER INTEREST by a 3rd party, I don't know, but I am very suspicious of them. I advised the loan processor I was very upset by this and felt it was dishonest since others including their site, said $302,000. She said they had a company that they used to do an on-line valuation, that is what they have to use, and nothing could be done. I immediately refused to further process my loan with them and cancelled immediately. This is a HUGE distortion of their servicing website of $30,000 or almost 10% of my property value. $302,000 vs $272,000. My loan balance is $175,000. I want other customers to know about this deceit, and I want Aim Home Loan to correct their data immediately.Business Response
Date: 07/13/2023
Hello,
Part of the application process is obtaining a value for the property; the value we received was lower than the customer estimated on the application. The Loan Officer gave the customer the options for the maximum loan amount we could provide based on the value of the property. At no point was a higher interest rate offered.Customer Answer
Date: 07/13/2023
The business did NOT ADDRESS the fact that my application valuation used was the AIM LOAN SERVICING VALUATION on my 1st TD loan they carry. And also same average valuation of REDFIN, TRUILIA, ZILLOW, DISCOVERY HOME LOAN, and independent *********** broker. The difference is MAJOR resulted in a loss of accessible funds to me. $272k vs $306k. A 10% detrimental market adjustment from AIM LOAN COM website.Business Response
Date: 07/14/2023
We appreciate your input and are reviewing the estimated value given on the Aimloan servicing website. When you apply for the loan we still need to have a value provided by an independent 3rd party and that is the value we have to use for the application.Customer Answer
Date: 07/24/2023
Aim Home Loans needs to verify their 3rd party valuation for Equity Loans vs their Service Valuation, which is in line with outside parties. The 3rd party valuation is "sketchy" for some reason, a very LOW BALL amount which would lead an "average" person to view that as "skeptical". My property has FIVE 3RD party valuations as follows:
REDFIN, TRUILLO, BPI (broker property valuation), DISCOVER HOME LOANS, another MORTGAGE BROKER representing numerous mortgage accounts. And not one comes even close to the LOW BALL valuation of $272,000 for my property.
For this reason I moved on and could not recommend AIM LOANS or give them a proper rating, as this type of information shows pure incompetence.
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