AMERISAVE MORTGAGE CORPORATION

2015-09-15

Olympia, WA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

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

Disputed: No Timely Response

2015-09-04

Arlington, VA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: I applied for a mortgage with Amerisave for a refinance of a condominium in XX/XX/XXXX. Because the condominium was in a new development, I had been unable to get a 30 year fixed loan with other lenders as they said the project had to be completed first. I had used Amerisave before, so I called the loan officer who had done my other loans and mentioned that I was unable to get a loan on this particular condo until the remaining units were completed. He told me that Amerisave could do the refinance, a 30 year fixed rate loan. I told him that I did not want them to run the credit check and the appraisal unless I was assured that Amerisave could do this particular loan -- a 3.75 % 30 year fixed loan with no points -- on a condo development that was not completed ( although my condo had closed in XX/XX/XXXX ). XXXX XXXX, the loan officer, assured me repeatedly that Amerisave could do this loan. He also assured me that since we had just completed a refinance on my other condominium that he knew I was personally well qualified for both loans. With this assurance, they ran my credit ( which was excellent ) and I paid the {$450.00} for the appraisal. The appraisal came back within a week, and the value of the property was much higher than we expected. The condo appraised at {$1000000.00} and the loan was only for {$560000.00} -- a much better loan to value percentage than when I originally applied. For the next four and a half months, I produced every document requested the same day. I complied with every single document request immediately. The 60 day lock on the loan expired on XXXX XXXX, and leading up to that I continued to inquire why the loan had not been approved and why we were not going to closing. They either would not respond to me, or would request yet another document. I was repeatedly assured that the loan would be approved, they were just swamped. By XXXX I was calling them almost daily to figure out what the problem was. I went to XXXX supervisor, his supervisor 's supervisor, all to no avail, until one day in mid XXXX I was told by his supervisor that Amerisave would never make a loan on a condo development that was not completed and had not yet been approved by XXXX. I told her that this was precisely the threshold question I asked XXXX XXXX before I agreed to pay for the appraisal and go through months of agonizing document production. She told me he never should have told me that and that they would refund my appraisal. I asked her in mid XXXX to process the refund. she then stopped taking my calls/emails. I then reached XXXX XXXX by calling from a different number, and he said I would have my appraisal fee refunded " within a week. '' that was almost a month ago. XXXX XXXX now will not answer my calls, return my calls, or respond to my emails.
Company Response: Company believes complaint represents an opportunity for improvement to better serve consumers Closed with monetary relief

Disputed: No Timely Response

2015-09-03

Lynnwood, WA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Company believes complaint is the result of an isolated error Closed with monetary relief

Disputed: No Timely Response

2015-08-28

Silver Spring, MD

Loan servicing, payments, escrow account

Mortgage: Other mortgage

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

Disputed: No Timely Response

2015-08-26

Chantilly, VA

Loan servicing, payments, escrow account

Mortgage: Other mortgage

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

Disputed: No Timely Response

2015-08-26

Apopka, FL

Settlement process and costs

Mortgage: Conventional fixed mortgage

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

Disputed: No Timely Response

2015-08-23

Arco, CA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: It 's the worse experience I 've ever had with a lender. I 've done at least XXXX real estate transactions and have never been treated so shabbily. They took forever to assign my loan, would not answer emails after I submitted the application and they took my {$500.00} to do an appraisal. When I tried to lodge a complaint with a manager " XXXX '' would n't give his last name and basically told me to suck it up. I completed my paperwork within XXXX days because I wanted the process to happen on time and by their deadline. It did n't matter. I guess I should 've paid more attention when my loan processor kept saying even if it does n't close on time you wo n't be liable for fees. I believe they knew they were overwhelmed with business but were deceptive in failing to inform me that the process would take longer than the XXXX days stipulated in the loan. I would never choose this company again.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: Yes Timely Response

2015-08-21

Hillsdale, NJ

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: Almost 5 months ago I applied for a mortgage refinance with Amerisave. Despite the fact that my wife and I have excellent credit and income well above average, and also despite the fact that our house is in a very desirable area of XXXX NJ, the loan still has not been closed. I have been told verbally over the phone that I have been approved and that the closing will be scheduled soon but I am repeatedly asked to supply " just one more thing before we can close ''. I have asked to speak to a manager several times and the people I am dealing with have refused to give me the contact information for a manager. What has been happening over the past few months is that I have had to send and resend documents. They asked for a bunch of documents ( which is expected ) but then would later request them again, saying they lost the fax or in one case " my signature was n't dark enough ''. The document with the supposed signature problem was to request my tax returns from the IRS and that happened months ago. There were also some repairs ( adding a missing handrail and such ) that I needed to address and have done so. Now that the repairs are complete I am being told they found something on my tax returns ( this is months later ) and they need me to fax my original tax returns or they ca n't close the loan. I did a little checking and what I realized is that the interest rates have gone up and what I believe is that they keep stalling hoping that my rate lock will expire or that I will get so frustrated that I just go somewhere else. A friend recommended the CFPB. All I am hoping for is that someone contact Amerisave and verify that I am not being scammed and maybe motivate them to close the loan and honor the rate I have locked. Please note that ( after the fact ) I read some reviews on websites and have found that I am not the only person to have this problem with Amerisave.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2015-08-07

OR

Settlement process and costs

Mortgage: VA mortgage

Complaint: Seven weeks ago I closed on a VA loan with Amerisave Mortgage Corporation. Now they want proof where my close funds came from. Odd. XXXX rounds of documents were requested and sent to verify close funds prior to closing. The loan has closed, funded, and I 've made my XXXX payment already. The loan processor, XXXX XXXX, wanted a HUD on the sale of my former home. I asked what that had to do with my loan? We were closed and funded already. Besides, my former home has not sold as yet. Under contract, but not sold. XXXX XXXX said in email, " this was a problem and she 'd have to speak to management. " I 'm a XXXX XXXX veteran with severe XXXX. I work hard to XXXX. I was immediately fearful I was going to lose my loan for an error I did not understand, and was led to believe was somehow my fault. XXXX XXXX emailed again to say it 'd be sufficient if I sent a " tax list '' and a " current copy of the homeowner 's insurance policy. '' I had no idea what a " tax list '' meant. I inquired if she meant a " property tax statement? '' My request for clarification was ignored. I insisted on an explanation since they had access to my account file. She told me she did n't have the documents. I must send the documents. I refused. I questioned the absurdity of a lender not having documentation. Finally XXXX XXXX emailed to say " they needed to be able to show the investor that the close funds came from the sale of my home. " I immediately contacted the VA XXXX XXXX XXXX in XXXX, CO. They reassured me Amerisave could not take away my loan after it had closed and funded. They told me any attempt by Amerisave to pressure me into helping them show that the close funds came from a non-existent source was to try and get me to assist in fraud. I felt pressured by the compliance agreement, but my gut and the VA said things were n't right with Amerisave. This was fraud in the opinion of the VA. I told XXXX XXXX I was confident I would remember if my loan approval had been contingent on my former home 's completed sale. My realtor told me I would n't be in my new house otherwise. I finally got out the thick stack of papers from my close package. I went through each sheet. I was surprised and dismayed to see that the Close Addendum page showed the required sale of my former home. The addendum also stated there must be a minimum of {$42000.00} in proceeds received by me in the sale of the house. Licensed lenders on the XXXX information website assured me that regardless of whether Amerisave had intended for their loan to be contingent on the sale of my former home, the fact that the loan was closed and funded had negated Amerisave 's demands on me. Respondents to my question also pointed out the inconsistency of the loan processor and underwriters having asked for multiple copies of proof for my mutual funds cash out prior to closing. This too helped negate Amerisave 's position that I must do something for them. This was far beyond the intent of a compliance agreement. XXXX XXXX supervisor, XXXX XXXX, ignored my voice mail, and email inquiries. It was n't until I told XXXX XXXX I would be handing this situation over to a real estate attorney that XXXX XXXX surfaced. There was no salutation, no signature block. Only the words, " I will review and advise. " I pointed out the inconsistencies I found on their XXXX XXXX XXXX Application, and on the addendum page of the close document. XXXX XXXX responded that " she was working with the underwriter to resolve the issues and will confirm with you tomorrow. " That was two days ago. I have even had confirmation from a retired XXXX executive friend of mine that the lender is out of line. There is nothing required of me. It is the lender 's problem. Period.
Company Response: Company believes complaint represents an opportunity for improvement to better serve consumers Closed with explanation

Disputed: Yes Timely Response

2015-08-01

NH

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: Initiated loan refinance with amerisave in XXXX 2015, it is XXXX and loan is not closed. My credit my ability to pay and documentation have been provided. The damage to me financially by not closing in a reasonable amount of time ( I consider XXXX days XXXX is at {$1200.00} and counting. This company has now restarted like this is a new loan asking for all same docs already provided and running a hard push on my credit report and ordering a XXXX appraisal on property. I think I am being scammed the interest rate I locked in XX/XX/XXXX is not offered I ca n't move on to another lender because of application fee and appraisal fee I have already been charged and I am not willing to forfeit. Please advise
Company Response: Company believes complaint represents an opportunity for improvement to better serve consumers Closed with explanation

Disputed: No Timely Response

2015-07-27

Boston Clg, MA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

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

Disputed: Yes Timely Response

2015-07-27

Clutch City, TX

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: I made a mistake and asked for a refinance on my condo. I got a prompt reply by phone and began the process. After agreeing on rates, 15 years fixed. I was asked to fill out a form which I had to print and send back. Before I could print the form I received a request for copies of paper documents. I now realize that this could go on for ever. I have sent Ameri-save an email canceling the process.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2015-07-20

Evanston, IL

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

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

Disputed: No Timely Response

2015-07-20

Warrenton, VA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: Mortgage servicing company is trying to trick me out to assess NSF fee inspite of receving the mortgage payment for the month. There were XXXX mortgage payments made in the month of XXXX 2015 my mistake in e-bill payment. Mortage company was notified about issue immediately about it. Customer service rep at Mortgage company informed me that XXXX payment will not be cleared and not to worry. But after a week Mortgage company sent me letter with NSF fee. I have contacted that mortgage payment was already paid for the Month of XXXX 2015 asked to remove the NSF fee. But Mortgage company is is not removing the NSF fee. I would like CFPB to help me in removing NSF fee and alert consumers of the unfair trade practice of the Mortgage Servicer.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: Yes Timely Response

2015-07-17

Wallington, NJ

Application, originator, mortgage broker

Mortgage: Other mortgage

Complaint: I am reporting a case of Mortgage fraud, the borrower XXXX XXXX and XXXX XXXX, we sued in superior court and lost, and also lost the appeal, I recorded a judgement on XX/XX/XXXX for the amount of {$52000.00} plus interest. I discovered XX/XX/XXXX that the XXXX had refinanced the house as of XXXX in order to avoid the judgement. I immediately notified the bank and the Title company of the fraud. The bank has done nothing to the borrowers and nothing to satisfy my judgement. I have also been in tough with the Title insurance company, which has stated they are going to do nothing until the bank faces a loss, Amerisave has avoided contact ignoring email and telephone calls. They are allowing this fraud to continue.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2015-07-15

Mill Creek, IN

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: My wife and I applied for a XXXX loan with Amerisave mortgage on XX/XX/2015. We supplied them with all the information they asked for in a timely manner and paid XXXX $ for an appraisal of the property. Everything was fine untill the rate we locked in at ( XXXX ) went up a quarter point. Then the circus started. They have asked for countless documents which we have supplied and as of XX/XX/2015 they are still asking for more. Seems they are going out of their way to discourage us from wanting to go thru with this loan. Believe me if I could get this rate elsewhere I would not be writing this and would have gone to another institution. Heres the real kicker. Our credit score is XXXX credit report shows perfect payment history on all loans. Show XXXX in CASH, XXXX in IRAs. They have 3 years of tax records with all schedules, all bank account records sinse XXXX of 2015 and we still are getting a run around. I saved all the emails of all the hoops that they put us thru because to expain it all in detail in this forum would take days.
Company Response: Company believes complaint represents an opportunity for improvement to better serve consumers Closed with explanation

Disputed: No Timely Response

2015-06-19

El Paso, TX

Application, originator, mortgage broker

Mortgage: Home equity loan or line of credit

Complaint: Went to Amerisave and I have been having problems getting the loan. I paid for the appraisal {$400.00}, but they are really dragging their feet. I have been trying to get loan since early XXXX. I requested a refund of the {$400.00} appraisal but they would not give it back or give me a copy of the appraisal. They are making excuses and postponing the loan. They keep making excuses that they need more and more paperwork.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2015-06-17

Scottsdale, AZ

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: I asked for my documenation I asked for it numerous times but nobody is responding
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2015-05-20

Duluth, GA

Loan modification,collection,foreclosure

Mortgage: Other mortgage

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

Disputed: No Timely Response

2015-05-12

Ft Belvoir, VA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: Amerisave Mortgage Corporation offered me a very attractive interest rate in XXXX for refinancing my mortgage. I went ahead and applied for the loan as they guaranteed rate lock for a period of 60 days. They asked me to pay {$420.00} for payment towards Appraisal immediately. As soon as I paid, appraisal was done within XXXX days from the application date. I also submitted online all the documents they requested. Then they sat on my application for almost two months. When I followed up, they said they were busy with too many applications and offered to extend rate lock since they were delaying it. They did extend but kept delaying it further and coming back and asking some document or other. Today they sent me a mail saying that rate lock expired and I will have to go for whatever rate exists now. On top of it they are also asking me to pay for appraisal again saying that my appraisal report expired. It looks like that they have no intention of approving my loan application despite having very good credit standing. Now the rates have gone up and I lost the opportunity of refinancing at a lower rate. I read online and understand now that they do this for many customers. So I want to lodge this complaint and request you to take it up with Amerisave Mortgage Corporation.
Company Response: Company believes the complaint is the result of a misunderstanding Closed with explanation

Disputed: No Timely Response

2015-05-06

PA

Credit decision / Underwriting

Mortgage: Conventional fixed mortgage

Complaint: I applied for a refinance on my home on XXXX XXXX. I was provided a pre-approval, and proceeded to provide close to XXXX documents to underwrite the loan. I provided all docs, and then was conditionally approved in underwriting requiring me to provide XXXX more docs. This was close to 2 months ago. These documents were provided, and then Amerisave came back XXXX additional times requesting new documents ( each supposedly going through underwriting and each taking days ). I have now uploaded over XXXX documents ( and many of them were repeat requests ). It is now XXXX and my loan has still not closed. Now, I was contacted this AM telling me that my application numbers were not correct ( for a rental property that I own ), but these were numbers that I NEVER provided on my application. They actually created the document, and when I raised they were incorrect on XXXX XXXX, I was told that they would be rectified through the documentation process. All docs ( taxes, insurance, mortgage ) have been provided, yet they are still " miscalculating '' the numbers ( not in my favor ). I have never experienced such poor service with any business, and I am stuck using them since they already pulled my credit ( which would count against me now elsewhere ), and I paid for a completed appraisal - which came in fine.
Company Response: Company believes complaint is the result of an isolated error Closed with explanation

Disputed: No Timely Response

2015-04-22

PA

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Complaint: I applied for a refinance loan with AmeriSave Mortgage. The appraisal came in to low which would have resulted in the need to close my HELOC. I cancelled the loan. AmeriSave has n't refunded the appraisal fee yet.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2015-04-20

Fisher Island, FL

Credit decision / Underwriting

Mortgage: Conventional fixed mortgage

Company Response: Company believes complaint is the result of an isolated error Closed with explanation

Disputed: No Timely Response

2015-04-14

Fort Worth, TX

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: I applied for a loan on line with Amerisave Mortgage. Filled out the application was approved and lock in a 3.25 %. Immediately I was called asking for my credit card to order an appraisal on my property giving me a false sense of security..I was asking for a load of {$110.00}. My house was appraised for $ XXXX.Credit was excellent, had liquid XXXX almost a million dollars. For 2 1/2 months asked for documents after documents no end going back 3 years. This was extreme. My primary residence was XXXX XXXX and I had another address where my office was located. My immediate family lives with me at the XXXX XXXX address which is my primary residence..I feel that when I sent the XXXX packet of documents with XXXX addresses it should have been flagged and stoppedright there, and not continue on and on asking more and more document. Why did they continue for another month or so and requiring more documents. They were fined heavily by CFPB for deceptive and abusive practices. I 'm out {$400.00} for the appraisal which can not be used by any mortgage company. XXXX have been done just like I have. I want nothing to do with this company. I want my {$400.00}. back.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2015-04-06

Oak Glen, CA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

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

Disputed: No Timely Response