AMERISAVE MORTGAGE CORPORATION

2019-11-30

Torrance, CA

Closing on a mortgage

Mortgage: Other type of mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Timely Response

2019-11-19

Key Biscayne, FL

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: Applied for a refi loan on XX/XX/XXXX with XXXX XXXX. He provided me with an estimate and asked for a {$500.00} good faith deposit via email that I gave him using my XXXX XXXX credit card. I was " conditionally '' approved on XX/XX/XXXX and processing was transferred to XXXX XXXX who asked me to pay my XXXX real estate taxes prior to the estimated closing date of XX/XX/XXXX. The XXXX County Tax Office replied to me via email that such info would not be available until XXXX XXXX. I asked Mr. XXXX if he there was another option and he said that he did not know. That was the last time that I heard from Amerisave until XXXX XXXX at which time Mr.XXXX emailed me saying that my file had been closed due to incompleteness. I placed a dispute with XXXX XXXX and they credited the {$500.00} back to my account and gave Amerisave until XXXX XXXX to reply, which they did not do until XXXX XXXX asking for an extension " to reply '' until XXXX XXXX. I am a XXXX years very old and infirm retired person who was trying to lower his monthly payment but was bamboozled by this Company, I need the money to pay my bills, I live on Social Security and a small annuity payment of {$250.00} every month This company has been very heavily fined by that Bureau for their shady/ilegal practices. Please help me. Thank you.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Timely Response

2019-11-18

Applegate, OR

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Timely Response

2019-11-14

TX

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: XX/XX/XXXX, Hello, In furtherance to my conversations with your representatives as to why I think it is imperative that Amerisave Mortgage be held accountable for misleading prospective customers, I am hereby explaining my rationale. Having been previously advised by XXXX XXXX XX/XX/XXXX that I can not qualify for their lower interest rates that are currently being offered because my Debt to Income ratio lends me ineligible to qualify. Therefore, on XX/XX/XXXX when I first received the unsolicited phone call from Amerisave Mortgage 's representative by the name of XXXX XXXX, I was quick to explain to him that although I had previously investigated refinancing my mortgage loan, it was already determined that I was ineligible. Undeterred, he immediately proceeded to explain that unlike traditional lenders, Amerisave is not hampered by regular bank lending restrictions ; that their company is made up of a conglomerate of investors that simply try to achieve higher yields on their monies. Furthermore, given my extraordinarily high credit score cements my approval with them. This really made sense to me since I am managing monthly to get by, although marginally and how much easier it would be saving {$600.00} {$700.00}. Thus he totally had my interest. Their one conditional caveat was their non-refundable application fee of {$500.00} which of course would be credited towards the balance of my closing costs once my loan most assuredly would be funded, after all they had already given me a loan number. Excitedly I proceeded with filling out the application and agreeing to pay the {$500.00} application fee ( given that they are unconventional lenders and relying too on the confidence of 'What 's in my wallet ', my XXXX XXXX Credit Card ). Within an hour I received the answer to my application with XXXX telling me sadly that 'yes indeed my debt/income ratio was too great '. I then immediately contacted XXXX XXXX to contest the {$500.00} charge who consequently reversed the charge and credited my card XX/XX/XXXX. Figuring the case closed, I resolved to not be similarly taken again. Bingo, XX/XX/XXXX Amerisave Mortgage recharged my card providing to XXXX XXXX a printed out copy of the signed application I had executed on the computer screen. What is so upsetting and 'sticks in my craw ' is that I had forewarned the salesman of my ineligibility immediately. Consequently, I've investigated the reviews on the internet regarding Amerisave Mortgage and it's fraught with negative comments expressly the same as mine. Amerisave Mortgage is a prime example of a firm that takes advantage of and preys on individuals most vulnerable of which are the retired with fixed income. Thanks, XXXX XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Timely Response

2019-11-12

Jupiter, FL

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: XXXX XXXXNMLS ID # XXXX who represents Amerisave Mortgage assured me before collecting my {$500.00} that my loan was guaranteed and there would be no problem. After months of the run around I received a decline notice. No explanation, nothing, just took my {$500.00} and stopped communicating with me.
Company Response: Company believes complaint represents an opportunity for improvement to better serve consumers Closed with monetary relief

Timely Response

2019-11-08

Bremen, GA

Applying for a mortgage or refinancing an existing mortgage

Mortgage: VA mortgage

Complaint: AMERISAVE DISPUTE : On XX/XX/2019, we spoke with a Loan Officer from Amerisave to refinance our home. We are retired military and were using a VA Streamline loan. We had two Loan Officers from two different companies giving us quotes at the time to include the Loan Officer from Amerisave. The other Loan Officer told us that we had to wait for six-months of payments on our existing loan before we could qualify to refinance ( we had just bought this home this year ). However, Amerisave told us that information was not true. He stated that he already had approval to refinance us now, already pre-qualified us, and that we would Close on our loan in approximately 30 days from the date of application. He then asked for {$500.00} to ensure that we did not proceed with the other company so that he wasnt just wasting his time. We obliged. Two weeks before we were to Close on our loan, he contacted us by email - he didnt even have the professionalism to contact us by phone. He stated that he had to apologize because he could not close on our loan until we had six-months of payments. He said that he would hold the {$500.00} until months later when he could refinance our loan. That was totally unacceptable. That was the first thing we told him initially and he insisted that he already had approval to proceed at that time. To us, the contract was voidable as he did not fulfill his end. We contacted our bank to dispute the charge. Today, months later, Amerisave provided our bank with a contract stating that the {$500.00} was non-refundable. They reversed the dispute and retrieved the money although they did not refinance our home. We have already refinanced our home with the company who told us the truth from the very beginning. What is our recourse? Recorded phone conversations can corroborate our case. Most importantly, Amerisave initially took the {$500.00} in July hours before sending us a contract stating it was Non-Refundable. We DID NOT receive that contract until we had already given him our debit card information based on his false information via phone. If we had received the contract prior, we would have seen that it was Non-Refundable and would not have proceeded or taken his word. Please help?
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Timely Response

2019-11-07

Anaheim, CA

Applying for a mortgage or refinancing an existing mortgage

Mortgage: VA mortgage

Complaint: I started a Refinance of my home with Amerisave, and was pre-approved over the phone in XXXX this year. After over a month after paying them {$500.00} I got declined. I contacted them several times with no return calls. The appraisal took over two weeks because Amerisave did not schedule one. I requested the return of my money with no replies fro Amerisave. Also they never told what type of loan they were processing. Very Bad Customer service
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Timely Response

2019-11-06

Montevallo, AL

Closing on a mortgage

Mortgage: Conventional home mortgage

Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-11-06

Wichita, KS

Applying for a mortgage or refinancing an existing mortgage

Mortgage: VA mortgage

Complaint: I had originally applied for a refinance with Amerisave mortgage corporation on XX/XX/2019. This refinance was denied. I was texted by representative from the company on XX/XX/2019 stating that he felt horrible about loan not getting approved and had escalated the review of file and has approval from his team to close the loan the way we set it up initially. This was going to be a quick approval and that all I needed to do is sign the new disclosures. No appraisal would be required as initial appraisal would work since it was done with prior loan application. I was in the process of working with another lender and stopped that process as I was assured this was a " sure thing ''. The refinance application was submitted on XX/XX/2019and I was assured I would not take more than a couple weeks. I was given initial set of disclosures with a closing cost of {$8600.00} on an {$160000.00} loan. This is well above the average closing costs for a home loan of this amount. Then on XX/XX/2019 I was given another disclosure where the closing costs had shot up to {$10.00}, XXXX dollars making the loan amount now {$160000.00} dollars. The VA denied the loan based off of the points and recoup. I have read several reviews on this company and have found countless people that have been put in the same situation as I am currently in. This company is making false statements in order to get people to invest money and time with them only to be denied. The XXXX loan denial I was ok with as sometimes the numbers just do not meet up. The XXXX denial where I was assured it was a sure deal is false and malicious in nature and companies should not be able to conduct themselves in this manner. I have communication from the company and its representatives that states it was approved, that I would be more than happy to share. This has delayed my process with another company that I have worked with in the past and put my family in a bad financial spot as I was told to skip a mortgage payment as this one would close before it was do. This company can not continue to do this to people.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-11-05

Heppner, SD

Applying for a mortgage

Mortgage: Other type of mortgage

Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-10-28

Cleveland, OH

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: I initiated a mortgage process with AmeriSave Mortgage Corporation and had my home appraised. AmeriSave failed to provide me with a copy of the Appraisal of the property which I paid for. Despite repeated attempts to obtain the document from their representative, I was ignored, strung-along, and ultimately had to abandon my effort. It is my understanding that AmeriSave is required to share a real estate appraisal with a home owner when they initiate a refinance process.
Company Response: Company believes complaint represents an opportunity for improvement to better serve consumers Closed with explanation

Timely Response

2019-10-28

Atl, GA

Trouble during payment process

Mortgage: FHA mortgage

Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-10-18

Myrtle Beach, SC

Applying for a mortgage

Mortgage: Other type of mortgage

Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-10-17

TN

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: I applied for a refi with Amerisave. My loan officer was XXXX XXXX. He said the only fwee I would need to pay in advance was the appraisal. I sent the {$500.00} for the appraisal, filled out the paperwork, and send in bank statements. XXXX would not call, email, or text me back. I got tired of this and cancelled the appraisal and loan process with a email to him. I still heard nothig from him for a week. I finally reached him by phone after many tries of calling, texting, and email. He then stated I would not get my appraisal fee back, and lied and said it was an application fee. He is clearly a liar, and a thief, and it's too bad he represents your company. He later admitted it was an appraisal fee because he finally sent an email saying he put in a request to refund the {$500.00}, but I don't believe a word he says after all this
Company Response: Closed with monetary relief

Timely Response

2019-10-15

South Florida, FL

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: I was solicited by AmeriSave on XX/XX/2019 for a refinance on my current property after inquiring online and giving the consent to being contacted. The agent who helped me started the application after finding out more about my current loan, job status, income, etc. Based on all data provided and my consent to pull my credit report I was told I qualify for a refinance just on my name and the numbers were clear and I accepted on my side. I was told I had to pay {$500.00} for the appraisal and that money was going to be reimbursed to me after the closing on XX/XX/2019 which was the date settled. I was not informed about those {$500.00} not being reimbursed should the closing was not happening, I was not informed about the possibility of not even closing. All the conversation was based about the fact that I qualify and I had to follow the steps in order to arrive to the final stage. I had to send all documents, tax returns, social security release information, consent to contact my employer, etc. I did all of that right away, and since the very beginning I told the agent I have been having 1099 's for the last 4 years. Everything was looking and working perfectly until I was contacted by another loan processor by AmeriSave asking me for the W2s, which I replied right away that I don't have W2s but 1099 's and the agent who took the application knows about it. Then he said he was sorry but the application was based on W2s numbers and the file was delivered to him as if I had W2s. That was obviously a miscommunication between the agents. A few days later I was contacted by the firs agent asking for more proof of income, and not a lot longer he said I was not qualifying for it. Had I knew those {$500.00} were not refundable I would have made a better informed decision, had I knew there was a possibility of not qualifying I would have decided if I wanted to move forward with the application. The agent never mention the fact that not qualifying was an option. I feel misrepresented by the fact of not being informed about the {$500.00} not being reimbursed if I don't qualify. After claiming many times the {$500.00} and being told by the first agent that he was going to see what he can do because he was not in the business of writing loans that will not get approved, I decided to continue claiming the money until I got a call today from another agent from AmeriSave. I was told the same, that the {$500.00} were not refundable, he even said he could read the statement that says that is not refundable ( I feel this should have been done the first day before paying ) and there was even a clause I signed about it. He basically told me he was sorry because I signed it, but I was not well informed.
Company Response: Company believes the complaint is the result of a misunderstanding Closed with monetary relief

Timely Response

2019-10-15

Dallas, TX

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: Amerisave charge me a deposit of {$500.00} as an initial the loan. The loan request were declined after 4 months. When I did request to return back the {$500.00} they dont do that. I did ask in the beginning if I cancel the loan request you return back the XXXX the loan officer told me yes.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Timely Response

2019-10-10

CA

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: XX/XX/2018 I closed my loan application with Amerisave, loan number XXXX, and requested the {$500.00} they collected for an appraisal fee to be returned. My home was never appraised.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-10-10

Federal Way, WA

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: Hi, I've started working on my refinance application on XX/XX/XXXX ... and in XXXX i had to walk away after closing costs increased over 2 times and {$500.00} i prepaid for the application. Every promise Amerisave made was a complete lie ... .and nothing was in the end the way they promised it. Amerisave from the day one was focused on collecting {$500.00} with the bait and switch approach. They quoted me rate which was good before I paid initial {$500.00} fee ... .after fee was paid the rate and the amounts of closing costs kept changing. In the end they said that because my condo with mortgage of $ XXXX was appraised for $ XXXX and not $ XXXX the rate needed to be higher ... which is complete nonsense since I refinanced homes before and once you have 40 % equity it doesn't matter. Their entire selling technique is based on ensuring that you out {$500.00} and once that happens the original terms are out of the window! Scammers!
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-10-02

MI

Improper use of your report

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Reporting company used your report improperly
Complaint: On XX/XX/2019, I was contacted via my personal cell phone by XXXX XXXX from Amerisave Mortgage Corporation, XXXX XXXX XXXX, XXXX XXXX XXXX, Georgia. During this recorded phone call, XXXX stated I was being contacted because of a recent credit inquiry on my credit report from a mortgage company. XXXX requested permission to take a loan application to make an offer. I declined this request, and informed him that my FICO score mid was a XXXX & if he could quote me Amerisave 's best rate on a {$150000.00} loan for an investment property based on this information I would listen but I was not consenting to a hard credit inquiry OR a soft credit pull. XXXX stated that " it will not hurt you '' and I again requested not to have any type of inquiry done at this time as I was already concerned how he acquired my information. I did not provide a social security number, income, address of property, or debts. After telling me the rate, I responded " that seems off '' the representative hung up the phone without another word. On XX/XX/2019, I received a NOTICE TO HOME LOAN APPLICATION in the mail notification from Amerisave Mortgage Corporation that " in connection with your application for a home loan ''. I attempted to contact XXXX manager and received no return phone call. Each representative at Amerisave has continued to tell me that it " wont hurt me '' or " has no affect ''. I refused any form of pull whatsoever.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-10-01

New Bedford, MA

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: My name is XXXX XXXX. I had applied to refinance my mortgage with my cousin who owns a mortgage brokerage. While I was submitting my mortgage application I was answering some basic question via text with my Loan Officer. A few minutes after my credit was pulled I received a phone call from XXXX XXXX at Amerisave XXXX XXXX. XXXX introduced himself and said he was following on my application that was sent to him. He lead me to believe that he was working with my mortgage broker and said he just needed to verify my information. He ended up taking a full loan application, pulled my credit. I gave him my credit card information and he charged my card XXXX for an application fee. My mortgage broker called me a few minutes later to verify some of the same information then I realized I was tricked into submitting an application with Amerisave. I quickly called them to have them withdraw my application and requested a refund. They refused to refund my money. I asked to speak to a manager and they were very aggressive with me on the phone about trying to get me to switch. Their closing costs were XXXX more than I had previously locked in with my broker. Their practice is very deceptive and misleading..
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Timely Response

2019-09-29

SC

Applying for a mortgage or refinancing an existing mortgage

Mortgage: FHA mortgage

Complaint: I applied for a mortgage with Amerisave ... .... Back in XX/XX/XXXX, I disclosed to the Representative over the phone on a Recorded Line that I had a Bankruptcy in XXXX. The Bankruptcy is also Clearly Obvious on my credit report as well. I was hoping they could offer me a lower rate since the rates have come down over the last year. I have no problem with FHA Loans as long as it works for me, and there is a Tangible Benefit. They took my application, took my Debit Card, took {$500.00}, did an appraisal and told me I was approved and I would be at the closing table in a few days. The very next day I got an email telling me the loan was cancelled because of the Bankruptcy. They knew that from the beginning, now they will not give me that loan, and there is no other loan for me, and they will not give me my money back. They could have made the decision to Decline the loan without ever getting a Fee from me, there was no need for Fees if I dont qualify for any of their loans. Considering they had no intention on giving me a mortgage, I feel like they just wanted to steal money from me. I had to go to my bank and file a dispute and wait two months to finally get my money back. When I finally heard back from the Representative I was working with, she told me she went to bat for me. I am not sure what that meant since she was the one initiating the loan and allowing this whole thing to go on. Then she told me I could dispute it with my bank. Who on earth does Business this way? If you don't like us stealing from you, go back to your bank and try and get your money back! What a way to take care of your client!! I would like to see this company audited and perhaps investigated, especially after I read several other reviews online where past applicants have had the same exact issue. Sadly for them, they never got their money back. To lose {$500.00}, that hurts, I work for a living. These people need the Mortgage Police!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Timely Response

2019-09-27

Copper Center, AK

Closing on a mortgage

Mortgage: Other type of mortgage

Complaint: I was working with AmeriSave with on a refinance, and after reading your report of XX/XX/2014 they are doing the same thing. They intentionally mislead me on every step of the process -low interest rate, closing fees, which changed during the process. I had to pay up front {$500.00} just to move forward with the process, they assured me that this would be a quick, and that I had plenty of equity in my house,, and that I had nothing to worry about. I started the process around XX/XX/XXXX and went back and forth with them until the loan was about to close on XX/XX/XXXX. I spoke with them several times ( every time I was sent new disclosure documents ) because I couldn't see how the numbers were adding up and how it would benefit my current mortgage amount. They assured me that I would be saving more than {$300.00} a month on my new mortgage, plus being able to write off the amount I spent in points on my taxes, skip a few payment ( they really dangled the carrot ), well when I got my final closing documents it was revealed ( only after I crunched more numbers ) less than a savings of {$27.00} dollars a month and would cost me over {$8000.00} in closing fees. The last phone call I had with them on the XX/XX/XXXX the lender agreed with me and said they missed looking at my initial mortgage amount and that YES this refinance doesn't make sense. I'm demanding that they refund my {$500.00}. This is just a brief description of what happened.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Timely Response

2019-09-27

Roseville, CA

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Company Response: Company believes the complaint is the result of a misunderstanding Closed with monetary relief

Timely Response

2019-09-23

IN

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: XXXX XXXX at amerisave mortage charged me XXXX XXXX dollors to start application for a refinance but change amount to be financed after that and i wasnt interesred so i canceled the appraisal appointment and told him im not interested and asked for my XXXX XXXX dollors back he told me it was non refundable is that legal and how do i get my money back.
Company Response: Closed with explanation

Timely Response

2019-09-16

Arvada, CO

Applying for a mortgage

Mortgage: Other type of mortgage

Complaint: On XX/XX/2019 I contacted Amerisave to ask how long I had to be in my current FHA loan before I could refinance. I was told " 6 months. '' Told that representative I was at work and couldn't talk at the time. XXXX XXXX called me after XXXX MST to go over the requirements. She knew it was a current FHA loan but said " Its fine we can proceed. '' questions and " approval '' took hours and led into more communication on XX/XX/2019. She stated she'd worked out all of the numbers and that I'd just need to pay the Application fee. Once application was complete, my current lender reached out to me stating the whole application was invalid based on FHA 's strict guidelines that the loan had to be over 12 months old to apply for a refi. I then attempted to call XXXX XXXX, Amerisave and XXXX 's Manager. No on was ever available to help again. I am just requesting my {$500.00} application fee be returned based on the fact that I proactively called asking about the guidelines to the " professionals '' who should have known the lending guidelines. I have no desire to work with this company in the future ever again and would just like my funds returned.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Timely Response