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Business Profile

Bank

Arvest Bank

This business is NOT BBB Accredited.

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Complaints

This profile includes complaints for Arvest Bank's headquarters and its corporate-owned locations. To view all corporate locations, see

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    Customer Complaints Summary

    • 1 complaint in the last 3 years.
    • 0 complaints closed in the last 12 months.

    If you've experienced an issue

    Submit a Complaint

    The 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.

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    Complaint type

    • Initial Complaint

      Date:02/14/2023

      Type:Billing Issues
      Status:
      Answered
      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.
      My deceased husband took the deed to Arvest Bank and took a loan out before he was deceased. He got a loan for $21000.00 at Arvest Bank. I was looking for a retirement check MFA and I was wondering where that money was going and I found it was going to Arvest Bank through Direct Deposit from MFA. I went to Arvest Bank. Arvest Bank would not tell me anything regarding that account. They stated that I was not a beneficiary of the account. I Called MFA had had my late husband retirement checked deposited into my own personal acct. I talked to **** ***** and he informed me that Arvest Bank would have to eat that note due to the fact that I was not present when my husband took that loan out. The day Arvest Bank sold the property November 1,2022, Current payment due to make payments current is dated 01/01/2023. Arvest Bank sold my property on the court house steps. There is Still a first mortgage on the house with ******* **** ** ******* . I want to keep the property.

      Business Response

      Date: 03/16/2023

      Better Business Bureau
      *** ******* ******* * ********* ******** * ******** ********
      *** ** ********* **** ****
      ** ****** ** *****
      ** *** *** **** ******** ***** *****
      Dear Better Business Bureau:
      We have reviewed Ms. ****’s concerns and hope the following provides a better understanding of our
      business practices.
      The loan referenced was collateralized with a fixed mortgage, which means Arvest Bank has the option to
      foreclose on the property if equity is available. Ms. **** was not the loan holder, therefore not liable for
      the debt, but was a signer on the mortgage. Ms. **** could have chosen to remit the payments that were
      in default before legal action started. Even after legal action began, Ms. **** still had remedies available,
      but the amount required to reinstate the loan would have then included late fees and legal costs incurred.
      On June 23 and July 16, 2021, Arvest Bank sent Ms. **** paperwork regarding her possible eligibility to
      become Successor in Interest of the loan, but it was never returned for review. If Ms. **** would have
      returned the Successor in Interest paperwork and it had been approved, she could have explored loss
      mitigation options. Arvest sent a demand letter to the Estate of Billy **** on February 2, 2022, indicating
      our second mortgage loan was in default, but it expired without a response. On March 29 and August 26,
      2022, letters from our attorney were mailed indicating that the loan was in default and that we would be
      moving towards foreclosure. On October 10, 2022, Notice of Trustee Sale documents were sent via USPS
      certified mail which disclosed the foreclosure sale date. The foreclosure sale has already taken place and
      the property has been sold to another party.
      The checking account individually owned by Ms. ****’s husband does not list any payable on death
      beneficiaries. Ms. **** has the option of presenting probate documentation such as Letters of
      Testamentary or a filed Small Estate Affidavit for review to claim any funds left in the account. If Ms. ****
      has any further questions or concerns, she may contact us directly at ***** ********.
      Sincerely,
      Arvest Bank
      Cc: Arvest

    Arvest Bank is NOT a BBB Accredited Business.

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