ComplaintsforAmerisave Mortgage Corporation

Mortgage Broker

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Initial Complaint
07/30/2024
Complaint Type:
Product Issues
Status:
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.
On June 12, I contacted Amerisave and spoke with ***********************. I informed him that we wanted to apply for a home improvement loan. He assured us of approval after checking our credit scores. However, I was surprised when he charged me $100 to start the application and an additional $500 the next day. **** explained that these fees were necessary for paperwork. Despite paying the fees, we were still denied the loan. Amerisave did not clarify that proving the source of fundsspecifically from my deceased father-in-laws living trustwas essential for approval. Additionally, they failed to mention the extensive requirements we needed to meet before securing the loan. The $625 fee did not guarantee approval, and this lack of transparency is concerning. The final requirement caught us off guard, and loan officers ****** and **** did not adequately explain it. As a non-specialist, I found the technical details confusing. They should have communicated this in simpler terms .... I want the money back because even if we paid the fees we were still denied the loan. They did not explain that if you cannot prove where the funds came from in this case from the living trust of my deceased father in law and since he cannot tell the bank since he is dead, that this was a game changer . We cannot prove where this money came from even if the ************* of our house (***** Title) provided them ALL the documents to prove it came from my deceased Father ** Law. Also they failed to inform us that we will have to endure submitting a myriad of requirements before we can get a loan and that paying the 625 dollar fee is not a guarantee to get a loan. They are very deceptive and are not forthcoming with the ridiculous requirements that you have to show before you can even get a loan. They need to refund me the money because they are not honest with all the requirements that they want from us before they can secure us a loan.
Business response
08/13/2024
AmeriSave Mortgage Corporation (AmeriSave)appreciates this matter being brought to its attention and the opportunity to respond. In researching the consumers concerns, AmeriSave reviewed the transaction history for the mortgage application and communication records.
The consumer was advised that the $500 Lock and Shop Fee was nonrefundable. This language was presented to the consumer while completing the online mortgage application and prior to the consumer entering their credit card information. This is consistent with AmeriSaves Lock and Shop Fee Agreement that was disclosed to the consumer along with the Loan Estimate (LE) prior to accepting payment. The consumer physically entered their credit card number on the payment screen which clearly states the amount of the fee, what the fee is for and that it is nonrefundable. This agreement is clear as to the terms of the Lock and Shop Fee and included the following language:
In order to proceed with locking your interest rate, you agree to pay to AmeriSave Mortgage Corporation ("AmeriSave") a $500 NON-REFUNDABLE Lock and Shop Fee. Should you decide to cancel your loan application, or should your loan application be denied, AmeriSave will retain the fee collected to secure your interest rate lock. Please refer to the Loan Estimate for disclosure of the Lock and Shop Fee.
AmeriSave or its employees cannot guarantee approval of your loan application or acceptance into a particular loan program.

A copy of the consumers electronically signed Lock and Shop Fee Agreement reflecting the consumers agreement with the terms and conditions may be provided if necessary.
As a courtesy, the $500 Lock and Shop Fee was refunded on 7/29/2024 to the credit card initially charged. AmeriSave regrets any inconvenience to the consumer and trusts this matter is resolved satisfactorily.
Initial Complaint
07/25/2024
Complaint Type:
Product Issues
Status:
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.
My husband and I were working with AmeriSave mortgage to buy a home. We had given an appraisal deposit of $700 which they said would be fully refundable if we didnt use it. While working with AmeriSave we had two loan officers leave the company. I felt like we were always getting passed around to new people and we decided to look for another mortgage company to work with. I asked for the appraisal deposit back multiple times from ***********************, who would have been our newest loan ******** ***************************** who was our very first loan officer and I left multiple messages on the customer service line. No one has gotten back to us and its been weeks. ***** had originally responded saying she told her manager we requested a refund but that was the end of the communication. I just do not want to loose $700 on a service we never used.
Business response
08/08/2024
AmeriSave Mortgage Corporation (AmeriSave) appreciates this matter being brought to its attention and the opportunity to respond. In researching the consumers concerns, AmeriSave reviewed the transaction history for the mortgage application and communication records.
The consumer completed a mortgage loan application on 2/23/2024, 4/23/2024 and 6/3/2024.The loan was dispositioned on 6/20/2024. Because the appraisal was not completed the consumer is entitled to a refund. Unfortunately, the refund request was not submitted to the correct department in a timely manner.
The Appraisal Fee of $700 was refunded on 7/26/2024 to the credit card initially charged. AmeriSave apologizes for any inconvenience to the consumer and trusts this matter is satisfactorily resolved.
Initial Complaint
07/25/2024
Complaint Type:
Service or Repair Issues
Status:
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.
In February of 2024 I applied for a mortgage with Amerisave and I was told I needed to pay up front $500 to "lock the rate" they had reserved for me. I paid it. They said this would apply to my mortgage once I am approved. They asked for numerous and senseless information until I finally paused everything to regroup and work on the requirements. In July I came back to them and spoke with someone named ***************************, she said if I could pay another $500 she would make sure the initial $500 would be reimbursed to me in a couple of days. After 2 weeks I have not herd from her, she must have blocked my number because my calls go straight to voicemail. I contacted *********************** who assured me she would help me with this, but after a few days she also does not take my calls or answer my emails. WHY WOULD THIS COMPANY STILL BE IN BUSINESS? WHAT STATE OR FEDERAL AGENCY IS THERE TO MAKE THIS COMPANY COMPLY WITH BETTER BUSINESS LAWFUL PRACTICES?
Business response
08/12/2024
AmeriSave Mortgage Corporation (AmeriSave)appreciates this matter being brought to its attention and the opportunity to respond. In researching the consumers concerns, AmeriSave reviewed the transaction history for the mortgage application and communication records.
The consumer was advised that the $500 Lock and Shop Fee was nonrefundable. This language was presented to the consumer while completing the online mortgage application and prior to the consumer entering their credit card information. This is consistent with AmeriSaves Lock and Shop Fee Agreement that was disclosed to the consumer along with the Loan Estimate (LE) prior to accepting payment. The consumer physically entered their credit card number on the payment screen which clearly states the amount of the fee, what the fee is for and that it is nonrefundable. This agreement is clear as to the terms of the Lock and Shop Fee and included the following language:
In order to proceed with locking your interest rate, you agree to pay to AmeriSave Mortgage Corporation ("AmeriSave") a $500 NON-REFUNDABLE Lock and Shop Fee. Should you decide to cancel your loan application, or should your loan application be denied, AmeriSave will retain the fee collected to secure your interest rate lock. Please refer to the Loan Estimate for disclosure of the Lock and Shop Fee.
AmeriSave or its employees cannot guarantee approval of your loan application or acceptance into a particular loan program.

A copy of the consumers electronically signed Lock and Shop Fee Agreement reflecting the consumers agreement with the terms and conditions may be provided if necessary.
Unfortunately, the original loan officer is no longer with AmeriSave which contributed to the delays with the consumer receiving their initial refund. AmeriSave takes customer service seriously and apologizes for the delay. As a courtesy, the first $500 Lock and Shop Fee paid by the consumer was refunded on 7/25/2024 to the credit card initially charged.AmeriSave regrets any inconvenience to the consumer and trusts the consumer will continue to work with employees to close their loan.
Initial Complaint
07/25/2024
Complaint Type:
Service or Repair Issues
Status:
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.
I applied and was approved for a revolving equity line of credit with AmeriSave Mortgage. However, the line of credit is being treated like a loan. It was fully funded up front, I was not told this when applying. Instead I received a check for the full amount of the line of credit, which they sent ***** and the envelope was left on my porch. I tried to speak to the loan officer about this but he acted like he didn't know anything about it either and was basically told by his manager that he just didn't know. I was told the payments would be based on the amount used (like a revolving line of credit), but they are not. I have left messages for the loan officer to discuss with him, but have not received a call back. I was then told he may no longer work at AmeriSave. I would have NEVER agreed to this HELOC had I known ANY of this.
Business response
08/09/2024
AmeriSave Mortgage Corporation (AmeriSave)appreciates this matter being brought to its attention and the opportunity to respond. In researching the consumers concerns, AmeriSave reviewed the transaction history for the mortgage application and communication records.
The consumer was advised that the initial advance would be for $50,000 with a monthly payment of $536.46. This language was presented to the consumer while completing the online mortgage application. This is consistent with AmeriSaves ***** Agreement that was disclosed to the consumer. This agreement is clear as to the terms of the ***** and included the following language:
***** requires a full draw of the line at closing.

A copy of the consumers electronically signed ***** Agreement and Disclosure Statement reflecting the consumers agreement with the terms and conditions may be provided if necessary. Additionally, the elected to receive their funds via mail based upon the Disbursement of Process/Refunds signed by the consumer on 5/12/2024.
AmeriSave regrets any inconvenience to the consumer and trusts this matter is resolved satisfactorily.
Initial Complaint
07/23/2024
Complaint Type:
Order Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
Emails received stated the following:Thank you for choosing AmeriSave Mortgage Corporation. We've prepared essential disclosures for your mortgage application. Depending on your loan program, there may be two sets of disclosures: one need your signature and another requiring acknowledgment of receipt.Access these documents securely.followed by a link to complete documents.complaint-deceitful practices as I never asked for or started a process for a mortgage with this company. some people may have thought they had to fill this out and would have been bound by agreement after doing it, this should not be allowed
Business response
08/07/2024
AmeriSave Mortgage Corporation (AmeriSave)appreciates this matter being brought to its attention and the opportunity to respond. In researching the consumers concerns, AmeriSave reviewed the transaction history for the mortgage application and communication records.
AmeriSaves research confirmed a loan application for Valid and *********** was started on 7/8/2024 for the refinance of a Pennsylvania property. A review of the call logs and recorded call transcripts indicates that an AmeriSave Loan Originator (LO) spoke with an individual who identified themselves as ***************************. The individual in question wanted information regarding a Home Equity Loan to be taken out by themselves, their husband, and their husbands brother. Records show the individual called from the same phone number the consumer provided the BBB, and the individual provided an email address that matches what was provided to the BBB. The application was not completed.
AmeriSave mailed a Statement of Credit Denial to the address on file, on 7/24/2024. A review of the records does not support claims of any inappropriate activity or deceitful practices by AmeriSave employees.
AmeriSave regrets any inconvenience to the consumer and trusts this matter is resolved satisfactorily.
Customer response
08/07/2024

Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

Sincerely,

***************************
Initial Complaint
07/18/2024
Complaint Type:
Billing Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
I am in the process of applying for a mortgage lender. I allowed a company to pull my credit report and from then I have had 27 calls, before blocking them from multiple numbers. I asked them nicely and not so nicely to stop calling me as this is harassment.
Business response
08/01/2024
AmeriSave Mortgage Corporation (AmeriSave)appreciates this matter being brought to its attention and the opportunity to respond.
AmeriSave added the phone number(s) in our records ending with XXX-XXX-1020, associated with the consumer to our Internal Do Not Call List on 7/19/2024, following receipt of this request. AmeriSaves phone records indicate that no additional calls have been placed to the applicable number(s) since that time.
In addition, the consumer may register their number with the National Do Not Call Registry at www.donotcall.gov or **************.
AmeriSave regrets any inconvenience to the consumer and their family members resulting from this matter.
Customer response
08/01/2024

Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

Sincerely,

*******************************
Initial Complaint
07/13/2024
Complaint Type:
Order Issues
Status:
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.
Transaction was made on 6/11/2024 to AmeriSave Mortgage company. I was charged a $500 "lock-in" fee for interest rate. I was verbally advised by the mortgage banker that the monies were generally refunded if not approved and that I had a very good chance of approval for my home refinance. After the lock-in fee was paid, I was immediately transferred to a loan processor who made it clear from the beginning that it was a long shot based on my most recent work history. On 6/27/24 I was contacted by the banker and advised that unless I had more income information that they would not be approving the loan and would not be refunding the lock-in fee. I have since found that there was a class action lawsuit for this exact same thing against them in 2011.
Business response
07/29/2024
AmeriSave Mortgage Corporation (AmeriSave)appreciates this matter being brought to its attention and the opportunity to respond. In researching the consumers concerns, AmeriSave reviewed the transaction history for the mortgage application and communication records.
The consumer was advised that the $500 Lock and Shop Fee was nonrefundable. A review of the recorded transcript of the call between the Loan Originator (LO) and consumer confirmed this language was presented to the consumer while completing the online mortgage application and prior to the consumer entering their credit card information. The consumer was advised there were no guarantees to the refundability of the fee. This is consistent with AmeriSaves Lock and Shop Fee Agreement that was disclosed to the consumer along with the Loan Estimate (LE) prior to accepting payment. The consumer physically entered their credit card number on the payment screen which clearly states the amount of the fee, what the fee is for and that it is nonrefundable. This agreement is clear as to the terms of the Lock and Shop Fee and included the following language:
In order to proceed with locking your interest rate, you agree to pay to AmeriSave Mortgage Corporation ("AmeriSave") a $500 NON-REFUNDABLE Lock and Shop Fee. Should you decide to cancel your loan application, or should your loan application be denied, AmeriSave will retain the fee collected to secure your interest rate lock. Please refer to the Loan Estimate for disclosure of the Lock and Shop Fee.

AmeriSave or its employees cannot guarantee approval of your loan application or acceptance into a particular loan program.

A copy of the consumers electronically signed Lock and Shop Fee Agreement reflecting the consumers agreement with the terms and conditions may be provided if necessary.

AmeriSave regrets any inconvenience to the consumer and trusts this matter is resolved satisfactorily.
Customer response
08/02/2024

Complaint: 21984366

I am rejecting this response because:
I was verbally advised that my loan would be approved by ******************* #*******. After going through all of my finances and work history, he saw no reason that it would not be approved. I was also verbally advised by ************** that if my application was not approved that my rate lock fee would more than likely be returned. I had answered all of his questions, he had all of the information. I am a nurse, who post COVID, has worked in several different roles. ************** was aware of this. I would NEVER have paid the fee had ************** not convinced me that my loan would be approved and if not the $500 would be refunded. My loan application was denied during the underwriting process. The reason for denial was that the four-month adjunct nursing instructor position I took was not long enough to count toward my income. Again, this position and length of time was something that ******************* was aware of prior to convincing me to pay $500 to lock in my rate. I believe I was taken complete advantage of. They even had me write an extremely personal letter as to why I was not working in the hospital as a nurse post COVID. I had never spoken about this trauma previously and again, would have ABSOLUTELY NEVER written this letter had I known they were going to deny my application. I believe Amerisave and ******************* took complete advantage of me. I respectfully request a refund to the credit card this payment was made on.
Thank you for your time and understanding.
Sincerely,

***************************
Business response
08/14/2024
AmeriSave Mortgage Corporation (AmeriSave)appreciates this matter being brought to its attention and the opportunity to respond. In researching the consumers concerns, AmeriSave reviewed the transaction history for the mortgage application and communication records.
While AmeriSave makes every attempt to confirm a customer will qualify for a loan prior to moving forward, a loans final approval must come from a qualified underwriter reviewing all documentation including verifying the customers income.
No new information has been provided by the consumer for review. Any inconvenience to the consumer is regrettable. AmeriSave has made a good faith effort to address the consumers concerns and apologizes for any inconvenience to the consumer.
Customer response
08/15/2024

Complaint: 21984366

I am rejecting this response because:
I feel completely taken advantage of. I have since done research on AmeriSave and this $500 lock-in fee. I have found a class action lawsuit and other complaints that you have refunded (attached) I clearly should have done more research prior to entering into a contract with you. I wholeheartedly believe that your company and employees took advantage of my desperation, as it appears you have done to many others. I do not understand how you are allowed to continue to do this.

Sincerely,

***************************
Initial Complaint
07/12/2024
Complaint Type:
Sales and Advertising Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
On 6/20/24, I completed an online inquiry regarding a Home Refinance loan. I was linked to Amerisave from that inquiry. I answered the necessary questions, then was transferred to *************************** NMLS: *******. I was told that she would further assist me with the application process. ******* explained that I would have to complete an online form, which would given consent for my credit to be pulled, there would also be a $41 charge for this. She wanted to remain on the line while I completed this, but I advised that I would need to start wok. I stated that I would complete the process, then follow up with her, once complete. She had provided me her personal cell, office phone number and email address. I completed the form and made a payment, later that day (2:28pm), then text her with a question. There was no response. 5 days later on 6/25, I texted her again at 4:25pm, no response. I then called her desk phone, which had an Out of office message stating she would be out until 6/30. I sent an email that same day, in hopes that I would hear from her, when she returned. I never did. I have also received several calls from other reps of Amerisave attempting to "complete my application." EAch time, when I mentioned *******'s name, they wanted to transfer me to her. I explained what had happened to one person, who said they were looking into it. I was placed on hold, then disconnected. I am no seeking a refund of my $41, as I was never able to complete the process with this company. Also, they did run my credit, which lowered my score and I have nothing to show for it.
Business response
07/29/2024
AmeriSave Mortgage Corporation (AmeriSave)appreciates this matter being brought to its attention and the opportunity to respond. In researching the consumers concerns, AmeriSave reviewed the transaction history for the mortgage application and communication records.
The consumer was advised that the $41.76 credit inquiry fee was nonrefundable. This language was presented to the consumer while completing the online mortgage application and prior to the consumer entering their credit card information. The consumer physically entered their credit card number on the payment screen which clearly states the amount of the fee, what the fee is for and that it is nonrefundable.
A copy of the consumers electronically signed Lock and Shop Fee Agreement reflecting the consumers agreement with the terms and conditions may be provided if necessary.
AmeriSave regrets any inconvenience to the consumer and trusts this matter is resolved satisfactorily.
Customer response
07/29/2024

Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

Sincerely,

******************
Initial Complaint
07/11/2024
Complaint Type:
Service or Repair Issues
Status:
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.
STOP CALLING ME Amerisave has called me 9+ times across 7/10 and 7/11/2024.I have answered multiple times and told them to take me off their call list.The most recent time they called, I tried to explain that I am not associated in any way with the person they are trying to reach, half way through me asking them to stop calling me, the *************** up.If me reporting them to bbb does not stop the calls, I may have to get my lawyer involved. The frequency and amount of calls I have received from them is starting to feel like harassment.I can not block their phone number because each time they call, they use a new phone number.
Business response
07/25/2024
AmeriSave Mortgage Corporation (AmeriSave)appreciates this matter being brought to its attention and the opportunity to respond.
AmeriSave added the phone number(s) in our records ending with XXX-XX1-9118, associated with the consumer to our Internal Do Not Call List on 6/20/2022, following receipt of this request. AmeriSaves phone records indicate that no additional calls have been placed to the applicable number(s) since that time. In addition, the consumer may register their number with the National Do Not Call Registry at www.donotcall.gov or **************.
AmeriSave regrets any inconvenience to the consumer and their family members resulting from this matter.
Initial Complaint
07/10/2024
Complaint Type:
Sales and Advertising Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
Greetings, I applied for a HELOC loan on the Amerasave website and was contacted by a ***************************** who is a licensed mortgage broker. After answering the usual application questions, I was told I would receive a call back in about 1 hour. I did receive a call back from ****************** and the first words from his mouth were " You're approved" So I went on my computer and started electronically signing mortgage documents with ****************** on the phone with me. Then he stated that there was a $500 " rate lock " fee to continue on with my loan processing. I paid the fee with the understanding that I was approved. I would have NEVER paid the fee if I had known my application would be denied in the underwriting process for an issue that ****************** was well aware of in regard to a leave of absence that I took from my job which resulted in a temporary reduction in my income. I respectfully request that Amerisave refunds the fee to the credit card I used to pay the fee. Thank you for your time.
Business response
07/22/2024
AmeriSave Mortgage Corporation (AmeriSave)appreciates this matter being brought to its attention and the opportunity to respond. In researching the consumers concerns, AmeriSave reviewed the transaction history for the mortgage application and communication records.
The consumer was advised that the $500 Lock and Shop Fee was nonrefundable. This language was presented to the consumer while completing the online mortgage application and prior to the consumer entering their credit card information. This is consistent with AmeriSaves Lock and Shop Fee Agreement that was disclosed to the consumer along with the Loan Estimate (LE) prior to accepting payment. The consumer physically entered their credit card number on the payment screen which clearly states the amount of the fee, what the fee is for and that it is nonrefundable. This agreement is clear as to the terms of the Lock and Shop Fee and included the following language:
In order to proceed with locking your interest rate, you agree to pay to AmeriSave Mortgage Corporation ("AmeriSave") a $500 NON-REFUNDABLE Lock and Shop Fee. Should you decide to cancel your loan application, or should your loan application be denied, AmeriSave will retain the fee collected to secure your interest rate lock. Please refer to the Loan Estimate for disclosure of the Lock and Shop Fee.
AmeriSave or its employees cannot guarantee approval of your loan application or acceptance into a particular loan program.
A copy of the consumers electronically signed Lock and Shop Fee Agreement reflecting the consumers agreement with the terms and conditions may be provided if necessary.
As a courtesy, the $500 Lock and Shop Fee was refunded on 7/15/2024 to the credit card initially charged. AmeriSave regrets any inconvenience to the consumer and trusts this matter is resolved satisfactorily.
Customer response
07/24/2024

Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

Sincerely,

*****************************

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