Got this info from Wells Fargo:
Through The First Class Home Financing Program, these are some of the benefits available to you:
Earn 1000 American Airlines AAdvantage® miles per $10,000 financed. Loan must originate and close through 1-866-324-8127 to be eligible for AAdvantage miles.
1. Written preapproval
2. A money-backed Wells Fargo Closing GuaranteeSM

Be an informed consumer - these loans often have higher interest rates (sometimes significantly so).

And for jumbo's it is even higher than a regular Wells Fargo Home Mortgage.

If you're considering refinancing or getting a line of credit for the points, don't forget that it can cost around $1,500 to refinance a mortgage too...if you can refinance it for a better rate, then, this might be a good option. In Los Angeles especially, median home prices are around $700K. If you originally put down a 20% down payment, you would still have a $560,000 loan which equals 56,000 AA miles for $1,500 if you choose to refinance your loan with this offer = $0.0268 / mile.

For those of you trying to hit the million mile mark with AA, the trouble is also that the points can take up to 6 weeks to hit your account AFTER funding. And who knows how long the approval process can drag on for...

Assuming everything went perfectly though, this would be a good alternative for people getting lots of miles if you've already bought the max on AA miles from AA (i.e. 40,000 + 10,000 bonus for $1,000 + $30 fee).