ComplaintsforAmerisave Mortgage Corporation

• Initial Complaint

  09/05/2021

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  I was contacted by this company by David Jones while I was in the process of purchasing a house. After turning in my documents I was told how much I was pre-appproved. After that I was told in order to lock in the rates I would have to leave a $525 deposit. After that in order to reach a closing date I had to send more documents and there was a W-2 I couldn't get ahold of from a previous employer. After telling I told them I can't get ahold of the W-2 David just said he was going to talk to the UW to see what can be done. Everyday I was getting an email saying I need the W-2 and everyday I would reply telling them I can't get it. I sent a text message to David which its been a month and no respond or emails. I do not recommend doing business with this company. When it seems like things are too good to be true, trust your gut. I just want my refund since nothing can be done to get a loan to buy a home.

  

  Business response

  09/16/2021

  Business Response /* (1000, 5, 2021/09/10) */ AmeriSave Mortgage Corporation ("AmeriSave") appreciates this matter being brought to its attention and the opportunity to respond. In researching the consumer's concerns, AmeriSave reviewed the transaction history for the mortgage application and communication records. AmeriSave understands the borrower's concerns with getting the loan to closing as the review process for this loan took longer than we had hoped. AmeriSave must request the appropriate documentation and underwrite loans to meet agency and investor guidelines. In addition, the time it takes to close a loan can vary dramatically depending on the complexity of the loan, clear documentation being provided, and the verifications required to be obtained from third parties. The Loan Originator ("LO") should have clearly explained to the consumer they were prequalified pending all verifications being completed. We regret if there was any misunderstanding about prequalification and the entire loan process. To address the communication issue, the call logs show the LO should have done a better job of returning calls and providing the consumer with status updates. The level of service provided is not consistent with AmeriSave's standards. While AmeriSave makes every attempt to confirm a customer will qualify for a loan prior to moving forward, a loan's final approval must come from a qualified underwriter reviewing all documentation including verifying the consumer income. Unfortunately, during the verification process the previous W2 could not be verified. AmeriSave must obtain the proper income documentation to meet investor and underwriting guidelines. The borrower can refer to the IRS guidelines for information on employment tax recordkeeping verification. It is a requirement, per the IRS, for employers to keep employees W2s for 4 years: Employment Tax Recordkeeping Internal Revenue Service (irs.gov) The consumer decided to not move forward with the loan. AmeriSave respects the consumer's wish to cancel the loan application. The loan was cancelled on 8/18/2021. As a courtesy, the $525 Appraisal Fee will be refunded by check within 7 to 10 days. The check will be sent by regular USPS mail to the primary residence. AmeriSave regrets any inconvenience to the consumer and trusts this matter is resolved satisfactorily. Consumer Response /* (2000, 7, 2021/09/14) */ (The consumer indicated he/she ACCEPTED the response from the business.) I appreciate the company reaching back to me and providing me with a refund for the deposit. Thank you. It should have never gotten this far as to have to complain on the BBB site in order to obtain my refund. But thank you anyways. Now to wait and see if they really sent out a check. If they don't I will complain again.

• Initial Complaint

  09/03/2021

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  On August 26, 2021 I received a call from a loan originator representing Amerisave Morgage Corporation by the name of Huessein ***** offering to assist me in refinancing my home's mortgage loan. I had been seeking to refinance, so I gave him some of my personal information to obtain a loan estimate. He provided an estimate for me offering an interest rate of 2.25% but said he would need a credit card to lock in the loan that would be used toward's an appraisal fee. I did not feel comfortable proceeding, but he used high pressure tactics to get me to proceed and said that I would be able to continue shopping the loan in this process. He floated the loan rate and never sent me an email or documentation to lock in the rate. I was never told the fee was non-refundable. The next morning a new estimate became available and the rate had increased along with the closing cost by over a $1000. My requests for a return fee and closure of my application have been ignored.

  

  Business response

  09/21/2021

  Business Response /* (1000, 5, 2021/09/09) */ AmeriSave Mortgage Corporation ("AmeriSave") appreciates this matter being brought to its attention and the opportunity to respond. In researching the consumer's concerns, AmeriSave reviewed the transaction history for the mortgage application and communication records. To address the communication issue, the Loan Originator ("LO") should have done a better job explaining pricing adjustment may occur depending on the factors. AmeriSave must present the correct loan factors for accurate pricing. Listed are the primary factors which are considered by investors when offering rates: loan amount, loan to value, combined loan to value (if there is a second mortgage), mortgage insurance, cash out versus rate and term, primary residence versus non-owner occupied, property type, loan type, loan term, waiving escrows and credit score. When these items change the rate and pricing could potentially be affected. The consumer was advised that the $500 Application Fee was nonrefundable. This is consistent with AmeriSave's "Advance Application Fee Agreement" that was disclosed to the consumer along with the Loan Estimate ("LE") prior to accepting payment. A copy of the consumer's electronically signed Advance Application Fee Agreement reflecting the consumer's agreement with the terms and conditions of the Application Fee may be provided if necessary. Additionally, this language was presented to the consumer while completing the online mortgage application and prior to the consumer entering their credit card information. AmeriSave is required by federal and state laws to maintain information received from applicants and obtained from third party service providers in connection to an application for mortgage financing. In particular, the Home Mortgage Disclosure Act ("HMDA") requires financial institutions to maintain and report data so the information can be used to evaluate lending patterns. Note service providers do not sell applicant information and AmeriSave does not sell applicant information to third parties. AmeriSave respects the consumer's wish to cancel the loan application. We regret if there was any misunderstanding. The loan was final dispositioned on 8/30/2021 per the consumer's request. While the consumer's frustration with the time in process is understandable, there is no evidence found to support the claims that AmeriSave has been deceptive in its lending practices. As a courtesy, the $500 Application Fee was refunded on 9/8/2021 to the credit card initially charged. AmeriSave regrets any inconvenience to the consumer and trusts this matter is resolved satisfactorily.

• Initial Complaint

  09/02/2021

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  I was sold a mortgage with Amerisave partially due to the low monthly payment that was advertised and maintained throughout the loan process (it was printed on the final loan disclosure documents). However, after just 3 months they have notified me that my payment will be increasing from 1358.47 to 1677.76, a 23% increase. The reason given is the escrow account balance, however neither my taxes nor homeowner insurance costs have changed since I began the loan process. I contacted Amerisave and they said my taxes had changed, however they have not and that is reflected the Anchorage Municipality's public records that are updated for the next tax year in January. Amerisave promised a false monthly payment in legal documents by knowingly miscalculating my escrow payments. The information needed to correctly calculate my payment was provided, and it is also available in easy to access muni tax bill records that I was told would be used to determine the correct payment.

  

  Business response

  10/28/2021

  Business Response /* (1000, 5, 2021/09/21) */ AmeriSave Mortgage Corporation ("AmeriSave") appreciates this matter being brought to its attention and the opportunity to respond. In researching the consumer's concerns, AmeriSave reviewed the transaction history for the mortgage application and communication records. AmeriSave is unable to transmit personal information through the BBB portal. Due to this, the consumer will be receiving detailed correspondence and supporting documents via regular mail within 7 to 10 days. AmeriSave regrets any inconvenience to the consumer and trusts the servicing related matter will be resolved satisfactorily upon receipt of the correspondence. Consumer Response /* (3000, 7, 2021/09/28) */ (The consumer indicated he/she DID NOT accept the response from the business.) Amerisave has not responded to my complaint. I received a letter stating that they would reply within the time required by law, then they sent me a bill for the increased mortgage amount that I am disputing. Business Response /* (4000, 9, 2021/10/05) */ AmeriSave Mortgage Corporation ("AmeriSave") appreciates this matter being brought to its attention and the opportunity to respond. In researching the consumer's concerns, AmeriSave reviewed the transaction history for the mortgage application and communication records. Amerisave apologies that the consumer did not get the original correspondence that was sent to the mailing address on file on 9/22/2021. The correspondence was resent on Thursday 9/30/2021 and delivered via FedEx Friday 10/1/2021 at 1:59 pm. AmeriSave regrets any inconvenience to the consumer and trusts the servicing related matter will be resolved satisfactorily upon receipt of the correspondence. Consumer Response /* (4200, 11, 2021/10/08) */ (The consumer indicated he/she DID NOT accept the response from the business.) Summary: Amerisave admits fault, but offers no resolution. First, Amerisave admits that they mishandled my account. They admit to not only failing to correctly read public tax documents, but also failing to pay taxes owed in my name, which resulted in a fine by the Municipality of Anchorage and my record with the municipality being forever damaged, as it will show failure to pay taxes (they claim to have paid the fine, but submitted no documents to show how it affected my account's standing with the municipality. Second, Amerisave refuses to honor the legal closing agreement made by them, signed by them, and agreed to by my wife and I with supervision of a public notary. I do not understand the point of signing such a document if it can just be changed to benefit the company, but not the consumer. I ask the parties involved to imagine that the tables were turned, and I decided that I would not like to honor the mortgage agreement and just pay less. Would I be allowed to do so? In this case, Amerisave has increased the monthly payment by 23% which would put many in a position of financial insecurity, and tip the odds in favor of failing to make payments and loosing their property. I ask that whoever reviews this case considers the past judgements against Amerisave and looks into whether the company has resumed systemic practices that include misleading consumers with false rates/payments, as is certainly the case here. Business Response /* (4000, 16, 2021/10/19) */ AmeriSave Mortgage Corporation ("AmeriSave") appreciates this matter being brought to its attention and the opportunity to respond. In researching the consumer's concerns, AmeriSave reviewed the transaction history for the mortgage application and communication records. AmeriSave is unable to transmit personal information through the BBB portal. Due to this, the consumer received a detailed correspondence and supporting documents via FedEx on 10/14/2021. AmeriSave regrets any inconvenience to the consumer and trusts the servicing related matter will be resolved satisfactorily upon receipt of the correspondence.

• Initial Complaint

  09/02/2021

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  On July 27th, we started the refinance process with Amerisave. We were approved for refinance. We quickly submitted all the documents the LO Curtis Thomas requested. He quickly asked for us to pay the $580 appraisal fee. It was paid on July 28th. We were under the impression once the appraisal was done we would close on the loan. We have over $80,000 in equity so that wasn't the issue. They declined us for the refinance after the appraisal for unacceptable payment history on previous mortgage. We haven't paid a mortgage payment late (over 30 days) in years. The appraisal took 2 weeks to occur so it could've been cancelled but instead led us on for a month and took $580 dollars. My LO Curtis Thomas said he didn't agree with the loan being declined and he was going to investigate. This was Friday August 26. I sent two emails this week and no response. I want the appraisal fee refunded.

  

  Business response

  09/24/2021

  Business Response /* (1000, 5, 2021/09/15) */ AmeriSave Mortgage Corporation ("AmeriSave") appreciates this matter being brought to its attention and the opportunity to respond. In researching the consumer's 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 loan's final approval must come from a qualified underwriter reviewing all documentation including verifying the customer's income, review of the property type, appraisal and credit history. In the interest of good service, the LO should clarify the consumer's loan is prequalified at the time of the initial application pending verification of the most essential application data. The loan was final dispositioned on 8/25/2021 with the reason of "Unacceptable Payment Record on Previous Mortgage". While AmeriSave would have preferred a different outcome for the customer, AmeriSave's decision was based on investor guidelines. While it is unfortunate that the customer's loan was denied, there was nothing AmeriSave could have done for a loan that is outside of investor guidelines. Due to the service, the $580 Appraisal Fee will be refunded by check within 7 to 10 days. The check will be sent by regular USPS mail to the primary residence. AmeriSave regrets any inconvenience to the consumer and trusts this matter is resolved satisfactorily. Consumer Response /* (2000, 7, 2021/09/23) */ (The consumer indicated he/she ACCEPTED the response from the business.) Refund check received

• Initial Complaint

  09/01/2021

  Complaint Type:

  Order Issues

  Status:

  Resolved

  More info

  We started the refinance process for our home and in order to secure the interest rate we were informed by the loan officer Spencer ******* that we needed to give a deposit of $500 that would secure the interest rate and be credited to us as part of the closing costs. At no time were we told that is was a non-refundable fee by Spencer *******. The process was moving along, we were informed that the loan was approved and everything was in good shape. Then all of the sudden they told us that they would be unable to help us because of the way our Title was filed with the County. So we requested the $500 to be refunded and we were informed by Spencer through a story, that he was unable to do that. We immediately ask to speak with his manager and Spencer told us that he would have them call us back the same day. As it stands now we have not heard from them. We would just like our $500 refunded. Please let me know if you have any questions. Thanks for your time

  

  Business response

  09/17/2021

  Business Response /* (1000, 5, 2021/09/14) */ AmeriSave Mortgage Corporation ("AmeriSave") appreciates this matter being brought to its attention and the opportunity to respond. In researching the consumer's concerns, AmeriSave reviewed the transaction history for the mortgage application and communication records. The consumer was advised that the $500 Application Fee was nonrefundable. This is consistent with AmeriSave's "Advance Application Fee Agreement" that was disclosed to the consumer along with the Loan Estimate ("LE") prior to accepting payment. A copy of the consumer's electronically signed Advance Application Fee Agreement reflecting the consumer's agreement with the terms and conditions of the Application Fee may be provided if necessary. Additionally, this language was presented to the consumer while completing the online mortgage application and prior to the consumer entering their credit card information. While AmeriSave makes every attempt to confirm a customer will qualify for a loan prior to moving forward, a loan's final approval must come from a qualified underwriter reviewing all documentation. Unfortunately, the Condominium Project was deemed non-warrantable after a review of all documents. As a result, the loan was declined on 9/2/2021. The Sales Manager, Randy ******** spoke with the consumer on 8/18/2021 to address the consumer's concerns. Due to the time in process, the $500 Application Fee will be refunded to the credit card initially charged within 3 to 5 business days. AmeriSave regrets any inconvenience to the consumer and trusts this matter is resolved satisfactorily Consumer Response /* (2000, 7, 2021/09/14) */ (The consumer indicated he/she ACCEPTED the response from the business.) We accept the refund of the $500

• Initial Complaint

  08/31/2021

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  My husband (Vincent) submitted a loan application to refinance our home, but decided not to go through with it. Prior to changing his mind a $475 appraisal fee was taken and paid for with my card. We were told since the appraisal wasn't completed we could receive a refund. It has been around 2 weeks now and I still do not have a refund on my card. My husband has made multiple attempts to contact Amerisave and no one will answer his call nor return his call. So today, I decided to call and apparently someone by the name of "Frank" has my phone number attached to their account. When a customer service rep would answer they asked if this was "Frank" and when told "no" the representative would hang up on me. This happened multiple times. I finally got through to someone and was told she would send an email to her manager for a refund, to which I told her we were told almost 2 weeks ago the refund had been completed, but I still have not received the money back on my card.

  

  Business response

  09/22/2021

  Business Response /* (1000, 5, 2021/09/09) */ AmeriSave Mortgage Corporation ("AmeriSave") appreciates this matter being brought to its attention and the opportunity to respond. In researching the consumer's concerns, AmeriSave reviewed the transaction history for the mortgage application and communication records. The applicant completed a mortgage loan application on 8/5/2021. The applicant contacted the Processing Department on 8/13/2021 to indicate he would like to cancel the loan and receive a refund of the appraisal fee. The loan was dispositioned on 8/19/2021. Unfortunately, the refund request was not submitted to the correct department in a timely manner. AmeriSave apologizes for any inconvenience to the applicant. The Appraisal Fee of $475 was refunded to the credit card initially charged on 9/1/2021. AmeriSave trusts this matter is satisfactorily resolved.

• Initial Complaint

  08/31/2021

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  An Amerisave employee lied to get me to pay $500 and then later said he did what he had to do to get my money. I wanted to refinance my home and Anthony Messina and I agreed on the costs and details of the agreement. The next day, Amerisave changed all of the numbers without my consent and refused to refund the $500 they collected from my credit card. Anthony Messina became a totally different person and pretty much said he did and said whatever he could to get the $500 payment. Amerisave breached our contract/agreement and I've initiated an investigation with Amerisave's Customer Service Department.

  

  Business response

  09/23/2021

  Business Response /* (1000, 5, 2021/09/14) */ AmeriSave Mortgage Corporation ("AmeriSave") appreciates this matter being brought to its attention and the opportunity to respond. In researching the consumer's concerns, AmeriSave reviewed the transaction history for the mortgage application and communication records. On 8/26/2021 the consumer spoke with the Loan Originator ("LO") and requested a quote for a loan amount of $180,400 which the LO was able to lock a rate of 2.5%. The consumer was advised that the $500 Application Fee was nonrefundable. This is consistent with AmeriSave's "Advance Application Fee Agreement" that was disclosed to the consumer along with the Loan Estimate ("LE") prior to accepting payment. While AmeriSave makes every attempt to confirm a customer will qualify for a loan prior to moving forward, a loan's final approval must come from a qualified underwriter reviewing all documentation including verifying the customer's income. AmeriSave must request the appropriate documentation and underwrite loans to meet agency and investor guidelines. Unfortunately, at the initial stage of the loan process, the Loan Originator ("LO") was unaware that the consumer's taxes were due and was required to be paid. This changed the loan terms and the consumer indicated he did not want to close with the current terms. A copy of the consumer's electronically signed Advance Application Fee Agreement reflecting the consumer's agreement with the terms and conditions of the Application Fee may be provided if necessary. Additionally, this language was presented to the consumer while completing the online mortgage application and prior to the consumer entering their credit card information. As a courtesy, the $500 Application Fee was refunded on 9/1/2021 to the credit card initially charged. AmeriSave regrets any inconvenience to the consumer and trusts this matter is resolved satisfactorily.

• Initial Complaint

  08/31/2021

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  Started the process of purchasing a home financed thru Amerisave Mortgage. Was charged an application fee of $500 and told it was refundable in the event the loan was unapproved. Received a preapproval letter to start the home search so our family opt out of renewing or lease. Placed an offer on a home and started the closing process with a closing date of 8/20. All inspection documents were sent in as requested and on multiple occasions received emails and texts to submit documents that were already uploaded. Two weeks before closing was told everything was on track to close on time. Started getting concerned a week prior to close because the appraisal was not yet scheduled by Amerisave. Was told again we are still on track to close. Three (3) days before closing, was notified that there was an issue and underwriting was unable to process the loan due to state regulation. We're left scrambling with canceling the movers and attempt to renew lease. Loan officer has blocked my emails

  

  Business response

  09/24/2021

  Business Response /* (1000, 5, 2021/09/17) */ AmeriSave Mortgage Corporation ("AmeriSave") appreciates this matter being brought to its attention and the opportunity to respond. In researching the consumer's 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 loan's final approval must come from a qualified underwriter reviewing all documentation including verifying the customer's income and credit. AmeriSave must underwrite and document loans to meet agency and investor guidelines. Unfortunately, the Loan Originator ("LO") was unfamiliar with an additional requirement to include the non-borrowing spouse's debts when qualifying. Wisconsin is a community property state and the lender is required to pull credit on a non-signing/borrowing spouse and include the debts. Unfortunately, once the non-signing spouse's debts were included the Debt-to-Income Ratio ("DTI") was too high and exceeded the underwriting guidelines. Normally coaching would be completed with the LO, however the party is no longer employed with AmeriSave. The application was completed on 7/22/2021. The Sales Manager, Mr. ******* indicated the consumer was informed of the pending decline. The loan was declined on 8/16/2021 due to excessive obligations in relation to income. Due to the prequalifying error, the $500 Application Fee will be refunded to the credit card initially charged within 3 to 5 business days. AmeriSave apologizes for the inconvenience to the consumer and trusts this matter is resolved satisfactorily. Consumer Response /* (2000, 7, 2021/09/22) */ (The consumer indicated he/she ACCEPTED the response from the business.) Resolution accepted

• Initial Complaint

  08/30/2021

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  On 11/30/20 I completed an application with AmeriSave for a home refinance. They approved my Loan and asked me to pay $500. I provided all documents requested over the course of the 10 days. Over the next 2 months they continued to ask for additional documents to close the loan. On 1/3/21 they needed our 2020 W2's. We provided them. I asked to speak to my Loan Originator, Jessica NMLS #XXXXXXX on what was causing the delay, but she would never call back. On 1/22 my LO emailed, I had completed 9 of 13 modules. On 2/2, I requested the status of my loan? I received no reply until 2/9. On 2/18, I was asked via the App to reconnect my bank information. I called and emailed my LO to get this done with no response. On 2/21, I called AmeriSave Customer Support and they told me I needed to speak with my LO to resolve any issues. I then reached out to Branch Manager, R ******** He emailed my LO with no Reply. My LO never called or emailed me again. My Loan application was never completed.

  

  Business response

  09/21/2021

  Business Response /* (1000, 5, 2021/09/09) */ AmeriSave Mortgage Corporation ("AmeriSave") appreciates this matter being brought to its attention and the opportunity to respond. In researching the consumer's concerns, AmeriSave reviewed the transaction history for the mortgage application and communication records. AmeriSave understands the borrower's concerns with getting the loan to closing as the review process for this loan took longer than we had hoped. AmeriSave has had higher than usual volume recently but is still focused on providing good customer service to our customers. To address the communication issue, the call logs show the initial LO last spoke to the consumer on 3/8/2021. The initial Loan Originator ("LO") left employment with AmeriSave on 3/15/2021. Unfortunately, a new LO was not assigned to the file. Due to time in process, the $500 Application Fee was refunded on 9/3/2021 to the credit card initially. AmeriSave regrets any inconvenience to the consumer and trusts this matter is resolved satisfactorily.

• Initial Complaint

  08/30/2021

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I told the loan officer Mo ******* that I had a manufactured home on block foundation on my own land and wanted to refinance and pull out equity he said no problem after weeks of constantly wanting more and more paperwork after weeks I got ahold of the processing dept and was told they do not handle manufactured homes yet Mo took my 500 dollars and then promised a refund I STILL DO NOT HAVE IT all this company does is lie and string you along I would never recommend this company to anyone and judging by the number of complaints just in Michigan I am appalled

  

  Business response

  09/27/2021

  Business Response /* (1000, 5, 2021/09/15) */ AmeriSave Mortgage Corporation ("AmeriSave") appreciates this matter being brought to its attention and the opportunity to respond. In researching the consumer's 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 loan's final approval must come from a qualified underwriter reviewing all documentation including verifying the customer's income, review of the property type and appraisal. The Loan Originator ("LO") prequalified the consumer incorrectly. Unfortunately, AmeriSave doesn't offer mortgages for manufactured housing. The LO has received further training on the property type requirements for a refinance. The loan was final dispositioned on 8/19/2021. The consumer was advised that the $500 Application Fee was nonrefundable. This is consistent with AmeriSave's "Advance Application Fee Agreement" that was disclosed to the consumer along with the Loan Estimate ("LE") prior to accepting payment. A copy of the consumer's electronically signed Advance Application Fee Agreement reflecting the consumer's agreement with the terms and conditions of the Application Fee may be provided if necessary. Additionally, this language was presented to the consumer while completing the online mortgage application and prior to the consumer entering their credit card information. As a courtesy, AmeriSave the $500 application fee was refunded on 8/31/2021 to the credit card initially charged. AmeriSave apologizes for any misunderstandings and inconvenience to the applicants.

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩