Arbor Realty Trust Inc. (https://arbor.com) NYSE: ARB Arbor Growing Financial Partnership aka Arbor Commercial Funding LLC - Borrower BEWARE of Arbor's misrepresentation, lack of diligence, procrastination and miscommunication on Investment Loan refinancing that will cost you money and time - Uniondale, NY

The short story is:

In Sept 2016 Arbor initiated a refinancing on a multifamily building where I owed more than 40% equity, with at all time 97% to 100% occupancy and positive cash flow (ie. low risk), then changed the terms of the refinancing three times and ultimately failed to honor the deal under the agreed terms. 

With the first LOI Arbor required and received an upfront payment of $12,500 "application fee" to cover for "out of pocket costs and closing fee", then changed the terms of the deal twice - obvioulsy with less attractive terms and higher interest rates, but I already paid the $12,500 and felt financially committed.

Arbor uses Freddie Mac or Fannie May money to fund their loan, while my loan/refi was under Freddie Mac, FM accepted the deal early January 2017 after appraisal and engineering surveys were done, under three conditions, which conditions were already met at that time.  However, Arbor ommitted to timely communicate FM conditions and its lack of diligence contributed to delay the closing; their obvious procrastination coupled with additional requests for information and documents unrelated to the FM conditions, led to several months delay while the third party reports (appraisal and engineering survey) expired.

Then, finally, in August 2017, Arbor accepted the loan/refi and notwithstanding Arbor's multiple promises that it will be at no additional costs, Arbor required to move to a closing subject to a new payment of $12,500 "application fee"!!  

The misleading information, lack fo diligence and lack of accurate information and communication with borrower/me, led to miss the opportunity to refinance at a very reasonable rate offered in 2016 and 2017.  I had to spend more money and time securing a refinancing with another Lender (which was quick and painless) and yet Arbor refuses to reimburse the "application fee" that I paid for a closing/refi that never happened, and to make it even more obnoxious,  Arbor's Originator, Manager and SVP ignore my calls and messages, and do not have the  courtesy to return calls.

This financial institution is a scam, BORROWER BEWARE, refinancing is expensive, long and tenuous, you need the right partner/Lender, avoid at any cost doing business with Arbor.  Arbor has no ethic and will lead you to believe thay can achieve results and will gladly take your earnest money, to then change the terms of the deal while you are already committed financially ... 

... Arbor promises and represent that they are not just another lender but a partner!  what a lie!

Do not do business with ARBOR, do not invest in their stocks (NYSE: ABR), they are unethical and unprofessional.