AMERISAVE MORTGAGE CORPORATION

2017-10-16

Douglas, MI

Trouble during payment process

Mortgage: FHA mortgage

Complaint: In XXXX into XXXX preapprpved through local mortgage company for cha for XXXX w 3.5 % down asked by amerisave to upload deppaoys XXXX numerous contract all reuploaded within 24 hours. On day of close XX/XX/XXXX amerisave decided to tell title company that loan was n't going through after cousins accou t through XXXX XXXX was dinged for wire live transfers. Had to move because buyer need weekend to redo kitchen living bathroom and need money for down payment of new house and to pay off his loan. Letter of homeless caused by amerisave and then they co rates me in XXXX and wonder about why I did n't close yet. Resigned papers 5 times have emails and proof. Rate locked at 3.5 to close showed 3 %
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-09-07

Orion Twp, MI

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: I started the mortgage process with a company called AmeriSave. They use a company called XXXX XXXX to contract out the appraisal services. AmeriSave charged and collected {$430.00} of my money for the appraisal services. AmeriSave Mortgage did not disclose to me that they are affiliated with XXXX and so I thought I would be getting an " independent '' 3rd party for appraisal services. If there is an affiliation, then there may not be independence during the appraisal process. When the appraisal came in, it was roughly $ 25K lower than 3 other appraisals that 3 separate mortgage companies had done on the home. One of the appraisers even used the words " grossly understated '' when looking at the appraisal done by the company XXXX XXXX used ( See appraisal attached ) AmeriSave then cancelled my loan and so I was out the {$430.00} that I paid for the appraisal during the beginning stages of the loan process As a result, I was not able to do the refinance due to lack of equity in the home and am out the {$430.00} that I already paid out of pocket. I feel like I was " dupped '' by AmeriSave not disclosing that they were affiliated with XXXX XXXX and I was under the impression that I was getting an independent appraisal. This has happened in the past with these 2 companies ( See link below ) : http : XXXX I would at min. like my {$430.00} back, however feel that these 2 companies are doing similar actions to other home owners!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-06-30

Moapa, NV

Closing on a mortgage

Mortgage: Home equity loan or line of credit (HELOC)

Company Response: Closed with explanation

Timely Response

2017-06-28

Durham, NC

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: I started to process of getting a mortgage for a new home and was pre-approved by AmeriSave Mortgage Corporation. I used this pre-approval to make an offer to purchase a band new home and then sold the home I was living in. AmeriSave Mortgage Corporation ensured me that everything was going smoothly and that they would have me approved well before my closing date. They ordered an appraisal of my new home that came back slightly higher then the selling price. About 3 days later I get an email from the loan processor XXXX XXXX stating that the underwriter had asked for a filed report and that came back with a lower number then asking price. According to the XXXX XXXX Appraisal Guidelines there is no reason why this should have been done. At this point I need to scramble to find a new mortgage company who does follow the guidelines or have my family be homeless until I can resolve this issue. This company has cost me my due diligence money and wost yet possibly my families dream home.
Company Response: Closed with explanation

Timely Response

2017-06-20

Alexandria, VA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: XXXX XXXX Good afternoon. I refinanced with AmeriSave fall of XXXX ( XXXX ) and received a letter from them saying XXXX XXXX they are going to hold an additional {$50.00} per month in the Escrow account, from {$650.00} to {$700.00} for taxes/insurance starting XXXX - a 7 % increase. However, I have my property tax bills for XXXX XXXX , Virginia From XXXX to XXXX , the tax assessment increased 3.60 % and XXXX to XXXX , tax assessment went up 1.86 %. The home insurance remained the same. When I called the Amerisave, I was the line that escrow increased due to additional taxes. They are not response when I say 7 % is excessive. My name is XXXX and I can provide the verifying information as needed such as address and account # 's
Company Response: Closed with explanation

Timely Response

2017-06-13

Fort Washington, MD

False statements or representation

Debt collection: Mortgage debt

Attempted to collect wrong amount
Company Response: Closed with explanation

Timely Response

2017-05-31

Juneau, AK

Closing on a mortgage

Mortgage: Other type of mortgage

Company Response: Closed with explanation

Timely Response

2017-05-18

Phila, PA

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Home equity loan or line of credit (HELOC)

Company Response: Closed with explanation

Timely Response

2017-05-08

VT

Closing on a mortgage

Mortgage: Conventional home mortgage

Complaint: I refinanced a home mortgage with AmeriSave Mortgage Corporatio n ( lo an number XXXX ). {$2100.00} was charged as part of the closing cost to establish an escrow account. One payment was made which included an additional {$440.00} for the escrow. The mortgage was sold to XXXX XXXX ( Loan n umber XXXX ) and the escrow balance that was transferred was {$890.00}. I have no record of where the missing {$1600.00} went and my efforts to track it down have resulted in being placed on permanent " hold. ''
Company Response: Closed with explanation

Timely Response

2017-04-26

Moapa, NV

Struggling to pay mortgage

Mortgage: Other type of mortgage

Company Response: Closed with non-monetary relief

Timely Response

2017-04-24

Cockrell Hill, TX

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2017-04-11

Galesburg, IL

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2017-04-03

Cheverly, MD

Application, originator, mortgage broker

Mortgage: VA mortgage

Complaint: I refinanced with AmeriSave in XX/XX/XXXX. I went to closing XX/XX/XXXX. My interest rate was locked in at XXXX. Just before closing they changed my interest rate to XXXX without telling me.
Company Response: Closed with non-monetary relief

Disputed: No Timely Response

2017-03-02

OH

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: I called Amerisave asking about a refi on my investment properties. They made all kinds of promises and after the appraisal the promises was changed. The have done numerous credit checks, one report they done it twice in one day. I gave them permission to do the credit check on XX/XX/XXXX, but not on XX/XX/XXXX and mainly not twice with one bureau. Every week I was assigned someone else to work with, information was messed up and lost due to this being done. I was told my score was to low after spending a month with them and spending {$650.00}. I checked the scores, and they did not match what they said they was, they stated they was not under any obligation to share the report. The score they told me was mine, was not. This company is so unorganized and should be investigated before they take advantage of others. The have a awful rating on sites I found, I should have taken that as a clue not to deal with them, but they made me such a great deal on the first call and down hill from there.
Company Response: Closed with explanation

Disputed: No Timely Response

2017-03-01

San Francisco, CA

Settlement process and costs

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: I applied for a mortgage from Amerisave and ran into a number of problems : ( 1 ) Twice I was asked to sign documents Amerisave representatives had filled out with incorrect information. They were initially dismissive of my objections, until I flat out refused. ( 2 ) It took 16 days after the appraiser 's visit, and several " nudges '' from me, for them to get the appraisal back from the appraiser they chose. No wonder they closed a week after the 45-day rate lock expired. ( 3 ) Amerisave promised in an email that if I paid the {$20.00} wire transfer fee the funds would arrive in my account the day the loan was funded ( and I began being charged interest ). I agreed to the wire transfer and was charged the {$20.00}, but the wire transfer was a day late. I requested a refund and an apology. In response, I got a coupon for a discount on another mortgage. I would still like the refund and apology for all the hassles. They chose the title company, so have full responsibility. Anyone considering applying for a loan through Amerisave should be forewarned that they are very disorganized. I was bombarded with numerous irrelevant emails and phone calls. I dealt with four different Amerisave employees, who often did n't seem to know what was going on.
Company Response: Closed with monetary relief

Disputed: No Timely Response

2017-02-03

Glendale, AZ

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2017-01-31

MI

Credit decision / Underwriting

Mortgage: Conventional fixed mortgage

Complaint: We have spent 5 months trying to close a 3 % refi with XXXX XXXX and his team at Amerisave Mortgage Corp. We paid for an appraisal, and have provided all the necessary documents on time ... some several times. The team was unable to deliver the mortgage after several promised dates. Our lock on the rate ran out and had to be extended 3 times. After much frustration and consideration we walked away. We have since begun working with XXXX, and after 4 days they are nearly ready to close. We feel we were dragged thru a lot of repeated questioning and harassment. Amerisave continually called our insurance agent and harrassed them. They actually asked the agent to violate her license and change numbers on a document by cutting and taping new numbers over the actual ones on the document. This is totally unacceptable and was very embarrassing to us. This was a complete failure to deliver.
Company Response: Closed with monetary relief

Disputed: No Timely Response

2017-01-19

Reno, NV

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2017-01-19

Atlanta, GA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: As part of my attempt to refinance the mortgage on a property I own, I applied with Amerisave back in XX/XX/2016. My loan advisor, XXXX, ran my application, my income/debt numbers, my credit report etc., and advised that I would be approved at a certain rate/payment for a XXXX fixed-rate loan. He then advised me to pay for the appraisal -- this is what I am now disputing. I feel that I was scammed by Amerisave into paying for an appraisal as part of a refinance that never had a realistic chance of going through, despite what I was told initially by XXXX in attempt to get me to pay for the appraisal. I was led to believe that, after the appraisal was completed, everything was done and we would be closing the loan promptly. Instead, I was advised by an assistant to XXXX, after the appraisal was paid for and completed, that my application had not even been reviewed yet, and that they were running behind, and it would be at least a month before I would hear anything. Several weeks went by before I finally received an email advising me that my application had been submitted to a processor, XXXX. I exchanged emails with the processor and immediately answered any questions and provided any documentation requested of me. Several more weeks went by, with me being under the impression that everything was done and that the next step would be closing. Suddenly the processor advised me that my debt-to-income ratio was not workable for this loan due to my student loan payment obligations. He explained that they were required to use an insane calculation of XXXX % of my total student loan balance ( which would equate to approximately $ XXXX ), and counting that against my XXXX. In actuality, my monthly payment is approximately {$1200.00} per month for all my student loans combined, and I provided substantial evidence that that has been the case for years, and will be the same for the life of the loan. Nevertheless, Amerisave would not budge. I questioned XXXX about this and asked why he did not use this calculation in the very beginning to tell me that I would not be approved with this XXXX calculation. XXXX responded that XXXX changed the rules in XX/XX/2016 requiring this calculation. Firstly, if that is true, I applied in XX/XX/2016 so there would be NO excuse for him not using that calculation in the beginning of the pre-approval process, in which case we both would have quickly realized I would not be approved, we would n't have further wasted each other 's time, and I would not have paid for the appraisal. Instead, he lied to me, got my hopes up for the refinance, and so I paid for the appraisal and then nothing happened. Secondly, when I recently researched Amerisave online, I learned that other people had fallen victim to this same type of scam whereby they were initially promised the moon, paid for the appraisal, and then nothing happened thereafter. Accordingly, I believe Amerisave should refund my appraisal due to their dishonest business practices. I contacted XXXX at numerous points beginning in about XX/XX/2016 when it became clear that this loan was not going to close, and I advised him of my displeasure with the process and the lack of transparency. XXXX stated that Amerisave would not refund the appraisal because loans are never guaranteed to go through until they clear underwriting. I explained to XXXX that I totally understand that process ; however, the problem is that this issue could have and should have been disclosed to me at the very beginning BEFORE I wasted my time and money. When XXXX asked to run my credit again in late XX/XX/XXXX, I officially closed out the loan process.
Company Response: Closed with monetary relief

Disputed: No Timely Response

2017-01-12

NH

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: XXXX XXXX XXXX My husband and I applied for a loan through Amerisave Mortgage Corporation and received a pre-qualification letter. XXXX XXXX XXXX We made an offer on a property in XXXX NH XXXX XXXX XXXX The purchase and sale agreement was signed by both parties. XXXX XXXX XXXX I brought the {$20000.00} deposit check, to be held in Escrow, to the seller 's real estate agent. XXXX XXXX XXXX The home inspections were complete on XXXX XXXX 2016, my husband and I were told by the bank that they had all the documents they needed. XXXX XXXX XXXX test results received. XXXX XXXX XXXX Received the appraisal report, however, since the appraiser did not complete both lots on the property and was required to complete both. ( Which was finally complete on XXXX XXXX, 2016 ). Amerisave continued to communicate stating all they were waiting on to close was the completed XXXX appraisal, and the fire chiefs signature for safety of the wood stove. -- -- -With this information we pushed past the original closing date of XXXX XXXX, XXXX -- -- - On XXXX XXXX, 2016 XXXX XXXX from Amerisave told us that they could not approve the loan due to our debt to income ratio being too high. My husband and I own XXXX properties in NC ( both have tenants ) We had moved all of our personal belongings ( which are still in storage ) We are now stuck without a home, and are staying with friends. The sellers had moved out and sold most of their furniture, our storage POD at the property had to be moved so the sellers could put the house back on the market. The sellers have hired a lawyer to keep our {$20000.00} deposit. Now due to Amerisave 's incompetence my husband and I are going to lose our {$20000.00} deposit, the {$890.00} spent on home inspections, the extra {$1000.00} to move our storage POD back off the property so the sellers could put it back on the market.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-12-09

Oxford, GA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: I have tried to pay off my mortgage with Amerisave Mortgage Corporation numerous times ( 3-4 ) and they keep charging me extra fees and will not close out the loan. Each time I have sent them a " pay-off '' payment they inform me that it did not arrive on time and charge me additional " handling '' fees. This is harassment and intentional. I have spent many hours on the phone with Amerisave trying to resolve this. I finally sent them a Certified Letter formally requesting that they close the account. None of my efforts have been able to close this account out.
Company Response: Closed with non-monetary relief

Disputed: Yes Timely Response

2016-12-02

Little Rock, AR

Application, originator, mortgage broker

Mortgage: FHA mortgage

Complaint: XXXX XX/XX/2016, I applied for a refinance with Amerisave Mortgage. I submitted all requested document in a timely manner but every time I fulfilled the request, Amerisave would request more documents. On several occasions I requested the underwriter or processor at Amerisave call me with any concerns but they did not. Moving forward, on XX/XX/XXXX, we still had not closed on my refinance so I tried another lender. Since I already had a FHA Appraisal, the new lender informed me to requested Amerisave to send them an Appraisal Release Letter. Amerisave has not drafted the letter stating the middle man XXXX or the Appraisal company would have to draft the letter. Both of those parties state, they are unable to process that request because Amerisave requested the appraisal. Based on what I have learned in the process ( from mortgage companies, XXXX, and the appraisal company ), the Appraisal Release Letter is a standard industry practice. I am asking for your help with this process. Thanks in advance for all your help. XXXX XXXX
Company Response: Closed with non-monetary relief

Disputed: No Timely Response

2016-11-30

Watkins, CO

Application, originator, mortgage broker

Mortgage: FHA mortgage

Complaint: Amerisave said after I explained my situation that I would have no trouble getting a mortgage with them, all I needed to do was pay for an appraisal. I did and was denied the loan, even though the appraisal came in as it should have. Avoid Amerisave at all cost, they are very fraudulent ....
Company Response: Closed with monetary relief

Disputed: No Timely Response

2016-11-30

Dallas, TX

Credit decision / Underwriting

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-11-30

IL

Credit decision / Underwriting

Mortgage: FHA mortgage

Complaint: On XX/XX/2016, Amerisave Mortgage Corporation contacted me about refinancing my home. They told me that even though I have a remodified loan and therefore was n't able to go FHA and due to a bankruptcy 2 1/2 years ago ( even though did n't involve my home ) would not be able to do a conventional refi, they had " means to bypass FHA requirements and ensure [ my ] refi ''. Yesterday, XX/XX/2016, they contacted me ( after MANY contacts over the month ) and told me I 'd best lock right away on a rate as the market is so unstead, blah blah blah. Of course, rates are going DOWN, not up but Amerisave 's closing costs keep creeping up and they said they are " uncomfortable with what tomorrow might bring in terms of their closing costs as they are computerized and unpredictable ''. I decided to go ahead and lock with the assurance that I could opt for a lower rate or discount right up until the day before closing. As I was doing so their closing costs kept rising over the course of a half hour at the rate of {$200.00} every 10 minutes. The representative, XXXX XXXX, kept telling me that no matter what my computer or phones are telling me ( they all said something different as use different cookies ) that at closing I 'd only be paying {$400.00} and just to IGNORE what my devices said and that hers was the only accurate one at {$400.00}. She told me that she needed my debit card password and XXXX digit code for security ( that I was serious about following through with a refinance on my home ) and while I expressed my hesitation and concern that I did n't understand the fluctuating figures before me, " not to worry, you 'll only pay {$400.00} at closing '' and " WHEN THE APPRAISAL IS DONE we will charge {$420.00} ''. She coached me on how to answer all of the questions for finalization said " the appraiser will be contacting you for a firm date ''. She called not even five minutes later and said " I 'm sorry but we are not going to do your refinance. You do n't meet our requirements ''. I IMMEDIATELY went to find my bank 's phone number to warn them that I 'd given my password and XXXX digit code so that they would stop any entity from gaining access to my funds ( at this point I realized that something was VERY AMISS with this organization ). I opened my account to get their phone number and to my SHOCK they 'd STOLEN {$420.00} from it WITHOUT MY APPROVAL! I 've since learned that this type of activity is not new to Amerisave, who was fined XXXX just two years ago for the same type of nefarious activity. XXXX XXXX XXXX said she 's very sorry that she wasted my time and HERS! HERS!??? Yes, she specifically stated that she is " sorry [ she ] wasted [ her ] time ''. Actually, I think she was doing exactly what Amerisave told her to do ... commit fraud and steal from unknowing individuals. OBVIOUSLY this is an entity that HAS to be STOPPED! They lie to unsuspecting persons from the VERY MINUTE of contact. I did NOT contact THEM.. they contacted ME. I 'd not even known of their existence prior to XX/XX/2016 and wish I never had.
Company Response: Closed with explanation

Disputed: No Timely Response