American Financial Resources - AFR Stole $10,000 in Commission Parsippany, New Jersey

4th of Jan, 2012 by User384034

As a former employee of American Financial Resources, Inc. I have give this company millions of dollars in business. After being promised leads from this company, I drove 1 hour and 30 minutes into the office everyday only to sit and shuffle paperwork. After some time, I was able to put three loans into process. The loans were entered in August 24, 2011. AFR normally prides itself on getting loans done in under 30 days time. As per my employment contract, â€œIn the event you resign or are terminated for any reason other than for cause, you shall receive your Earned Commissions on all loan volume that closes within thirty (30) days from the date of cessation of employment. No commissions will be paid on loans closed after 30 days have elapsed after termination.â€ I finally decided I needed to make a change in companies. I made a decision to leave AFR to work for another company closer to home and will provide leads, as promised. The three loans I left behind were personal friends and hoped the loans would be handled and closed in a timely fashion, after all, the closing time was supposed to be under 30 days. The loans were pushed way past the 30 days, into 60 and finally closed after 90 days time. This allowed American Financial Resources, Inc. to enforce the 30 day employment contract and keep my commission, over $10,000. I called the President/Owner of the company Corey Dubnoff and tried to get an explanation. I was told 30 days is more than fair. I asked for an explanation as to why the loans that were ready to close when I left took 90 days to close, the response was a chuckle. I am pursuing this matter with the proper authorities, The Department of Labor, The Department of Banking and the American Arbitration Association. I am writing this complaint so I can let other loan officers know what type of companies are out there. I guess I should not be surprised...

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