Complain about a product or service

Amerisave Mortgage

Atlanta

Eugene of Lexington, MA January 30, 2010

I applied to refinance first mortgage on my house. The property has also a second mortgage from my employer, Harvard University, and a HELOC from Chase bank. Before proceeding I checked with Mr R. if it is OK to refi with two subs and he said (in writing) a resounding yes (I have an email from him to that effect). I went ahead and paid 675 for an appraisal. 3 mo later Mr Roth got back to me and said that they will not close the loan with 2 subs. He refused to refund the appraisal fee.

Apparently he lied to me when he initially said yes to refi with two subs to lure me in the transaction in hope that I will proceed anyway by closing the HELOC because we already spent 675 on appraisal. I lost 675 and the chance to refinance my loan at an attractive rate.

Laura of Foothill Ranch, CA January 13, 2010

I too have been scammed by Amerisave. Unfortunately, I had read a lot of complaints, but was lured in by their low intrest rates and supposed low fees. On or about October 13, 2009 I applied to refinance my home with Amerisave. At that time I was required to pay a 35 application fee and a 425 home appraisal fee. I was told by my loan processes Marcel F on this day and many others throughout the loan process that this money would be refunded back to my credit card following the closing of the loan. Mr. F advised me that Amerisave was having a “Special” at the time I applied, as this credit is not always offered.

Approximately two to three weeks following the closing of my loan on November 12, 2009 I contacted my credit card company to inquire regarding the credit. I was advised that a credit had not been issued. I immediately contacted Mr. F and was assured that the necessary paperwork was submitted and the credit should be issued any day. Mr. F promised to follow-up and give me a call back on the status of the credit, of course I did not receive a return telephone call. Approximately, a week or two later I had not heard back.

On or about December 7, 2009 I again contacted Mr. F regarding the credit. He returned my telephone call the following day and apologized, as he claimed he was out of town. Mr. F promised he would research my credit and send me the reference number for the credit, so that I could follow-up with my credit card company. I never heard back from Mr. F and he did not respond to my e-mails and or voicemail messages.

On December 16, 2009 I contacted Amerisave costumer services representative Jessica T. I should note that throughtout the process I had numerous complaints, such as them setting up closing to sign loan documents and not informing me that it was cancelled, as their paperwork was not completed. I had called costumer service several times, which nobody answers and only allows you to leave a message. Jessica was my one and only return call. I explained the circumstances and she promised to speak with Mr. F and his supervisor and get back with me. Ms. T contacted me the same day and advised me that the company had issued credits in the past, however, no longer did so. Additionally, she denied that the company was ever running such a promotion and indicated that she would have Mr. F's supervisor contact me for further information. Of course I Mr. F's supervisor never returned my call. I will say that I did get the loan at good rate, however, feel that there unethecial, frauduelnt, and deceitful buisness practices need to be stopped and they should be held financially accountable.

Rita of Staten Island, NY November 22, 2009

On 10/08/09, I applied to refinance a mortgage loan. I paid for the appraisal and credit report, and within hours submitted all paperwork requested. On 10/15/ I sent in requested signed disclosure docs. On 10/29 I received appraisal report and on 10/29 I also received a denial of credit the reason given failed to submit paperwork on time. When I wrote to the compliance officer he stated my debt to income ratio was too high. The new mortgage I was applying for was 35 cents more a month, I have never been late on my mortgage and have a credit score of 761. Why wasn't this told to me prior to charging me 350.00 for an appraisal? They had my income verification and I have zero debt other than my mortgage payment.

Daryl of Petersburg, OH August 6, 2009

Amerisave offers a very good interest rate. They claim that you can receive a loan in 10 Days. My credit score was average and it is within the FHA acceptance range for a loan. Everyone in my town is required by the EPA to tie in the city sewage system. My deadline to be tied in was 7-23-09. I started the loan process with Amerisave to get the 4m - 6m to tie into the system. I started the process on June 20th,2009. I had to jump through hoops with this company. They require 4 weeks of pay stubs, bank statements for 2 months, drivers license photo, loan information etc. etc. etc. I then paid 325.00 for an appraisal.

After waiting 4 hours for the appraiser he showed up an hour late. He did a quick appraisal and then left. I received a phone call from the appraisal company that he had to come back out because he forgot to take pictures. Pretty basic stuff for an appraisal. I then had to have my wife wait for them to come back a couple of days later for pictures. When I saw the appraisal I was shocked. My house was appraised lower than I could imagine. I see what they did. They took the prices that some of the houses around me sold for and then estimated the value of my house accordingly. They didn't take into account that the one house had a flooded basement and the other house was full of black mold.

The appraisal was very poorly done. They then sent me 50 pages of material to read, sign, and send back to them. Their fax didn't work so I scanned and e-mailed the documents to them. I should have known then what type of company I was dealing with when they don't have a working fax machine. Once I sent all of the information in my loan officer convinced me to increase the amount of my loan. I did as he recommended.

I then once again had to read, sign and send the 50 pages again. When the loan procedure went past 30 days I became very concerned with their process. I was informed a couple of times that the loan was approved and that they were only waiting for info from the Title company etc. PLEASE don't forget that this loan was to get money to tie into the city sewage system. I really got frustrated when the loan when past the 23rd of July and I became in violation of the EPA laws. It is now the 5th of August and I was just informed that in order for Amerisave to give me a loan I will have to tie into the city sewage system. DO YOU BELIEVE IT?? This is like them giving you a car loan only after you purchase the vehicle??

By the way. Amerisave sells EVERY loan they make. I think that they locked me in at a low interest rate and are now looking for a way to back out!!! This is after they wasted over a month of my time and have placed me in an illegal situation with the EPA. DO NOT USE THIS COMPANY!!!! Go to a bank.

Raymond of Richmond, VA February 4, 2009

1/6/09 completed the on line application and understood it cost 35.00 charged to my credit card. 1/10/09 (saturday) received a call from teh loan officer jake jacobs letting me know documentaiton was coming. 1/11/09(sunday) received a email with documentation to down load. Had to send the documentaiton to my fiance work email to down load and print as I couldn't do that at home and had instructed teh loan officer to regular mail me any information. 1/12/09 reviewed the refiance loan documents and the appraisal and dicsovered issues.

On the same day 1/12/09, my fiance and I had a phone conversation with the loan officer Jake Jacobs expressing our concerns and decided to stop the process. My fiance emailed from her work as a follow up to our phone conversation that morning our desire to stop the refinance since the numbers didn't work and the documentaiton was not in order. Amerisave (Jake) stated we were responsible for a 500.00 terminaiton fee! we questioned that and were met with rudeness and the Underwriting manager Darla Castillo inappropiate response to involve my fiance's place of business. Darla thought my fiance was a competing mortage loan officer becasue she was employed with suntrust, so she assumed suntrust mortgage when she was employed with suntrust BANK.

Darla sent the entire email communicaiton about my refinance to Suntrust mortage's senior VP of coorespondent relationship to leverage her position and create drama for my fiance because Darla thought she was loosing the deal to suntrust - when in fact we were amerisave's customers! From 1/10/09 to 1/12/09 is when this matter occured with most of the communicaiton happening on 1/12/09 - the appraisal was done on 1/8 prior to us receiving any loan documents and when we had received the initial loan documents and disclosures 1/12/09 we requested the transaction stopped but were met with EXTREME resistance and had already been charged fees that were had not authorized.

Jane of Humble, TX May 12, 2008

I recently received a certificate of approval for a home loan from amerisave. After I received it I have been getting emails stating that more information is needed. The email has the name of the loan officer who sent me the certificate and what appears to be her email address. I am not responding to the phish and I am trying to stop them from repeating. Anyone trying to qualify for a home loan might be at risk from this activity.

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