Amerisave Mortgage review: Deceptive lender application process 24

Don't waste your time with Amerisave... they do absolutely nothing but take your money and tell you they are working on your loan... I finally went with Wells Fargo and it was like night and day. Wells Fargo processed my loan fast and professionally and with the lowest rates. I dealt with Paul Fitz-Gibbon through Amerisave and he still hasn't gotten back to me - 2 weeks after I sent my application - so much for "same day pre-approvals" that they advertise on the web. They also advertise "free loan processing", but you have to pay $35 for them to even look at your application... What a scam...

DON'T BOTHER with this outfit. I allowed Amerisave to charge my credit card $35 for a credit check, sent in all required documents in proper format. On June 22nd credit score came back 806. On 25th at 10:30 at night they sent me an email stating my credit was denied. When I questioned the loan processor he sent me an email stating I had not paid for a Credit Report. I sent him a copy of the receipt sent from Amerisave where they charged my card. Then he left me a voice mail saying the paystubs I sent were out of date. I had copies on my computer, pulled them up & they were up to date and prrof of income for more than 30 days. Just so happens I got paid that day so sent that 2 week periods stub also. Have not heard from him. When you call nobody can answer your questions but your loan processor. Who just happens to work the same hours that you have to be on your own job. The website states 24 hour service. Their slogan is "get approved fast & easy". NOT TRUE! I found the Loan Processor to be a bit curt and would ease up after he saw I earn over $90, 000 working for the same company over 20 years & have excellent credit. Not the case. I thought complaints on various boards would be from people that do have all their documents & low credit scores, THIS IS NOT TRUE. I apologize.

I called Amerisave because they advertise a mortgage that only requires a 5% downpayment. Their online system showd me many mortgage options available to me with only a 5% downpayment. I spoke to an Amerisave rep and I specifically asked him three times are you sure a 5% downpayment is possible in Florida and he said yes each time and kept referring to all the mortgage options their website was showing me. So I applied for a mortgage with them, went through preapproval and paid them $375. Closing was set for a Monday and the previous Friday they rep informed me that they could not do a mortgage with only a 5% downpayment and he asked me to put 20% down. I said no and that I wanted my $375 back. After that, the rep would not return my email or my phone calls. I emailed a supervisor and requested a refund but I have continually been ignored.

I am now in the process of filing a complain and informing the appropriate regulator agencies. Amerisave has terrible customer service and they are dishonest. Do not make the same mistake I did, do not use Amerisave.

We applied for a mortgage with Amerisave and were terribly disappointed. First, they didn't lock the rate even though we paid for the appraisal right away per the website. We then had to pay hundreds more to get the rate we tried to lock initially. They then tried to "bait and switch" and raise the fees for that rate by yet another $1000 over what was listed on the website. We fought to get the lower advertised rate, which we finally got. After turning in mounds of financial information, and being approved on our finances, they decided to reject the appraisal that they themselves ordered and which came in above the sales price of the property! They rejected the appraisal just a few days before closing, causing the seller to cancel the contract because we could no longer close on time. They didn't even give us or the appraiser that they hired the chance to respond to the supposed concerns they had on the appraisal! All this was after several assurances that the loan was on track and would close on time. Working with Amerisave was easy in terms of submitting information and seeing the status on line, but a nightmare in terms of their sticking with their comitments. They cost us the house that we wanted very much, and they are unapoligetic and do not return calls. They refuse to let us even speak with a supervisor and directed us simply to lodge a complaint with customer service. For any one else out there, I recommend that you pay a bit more and use a real lender -- using Amerisave is an unworthwhile gamble. I'm out hundreds of dollars in appraisal and other fees, and got screwed in the process. I do not typically complain on line about companies, but this one's beyond the pale, and I don't want others to get hurt by them. It was all unnecessary as there were plenty of other lenders who were willing to lend to us (good credit and plenty of assets) -- we went with Amerisave for the lower rates, and ease -- both of which turned out to be meaningless.

big news about the owner of Amerisave Mortgage, Patrick Markert coming soon. It will help you understand why all these complaints are true.

Amerisave is dishonest. I have never written a complaint like this before, but wanted to warn people. We filled out an application for a refinance with Amerisave. We used their website to figure out the fees and they quoted them at $853.20 for the rate, amount of mtge and credit score we submitted. We had checked my husband's FICO score in advance. After filling out the application we were charged $35.00 to pull our credit scores and complete the application to lock in our rate and fees. They then quoted us $2900 for their fees and showed my husband's credit score a full 14 points lower than his average FICO that we checked ourselves. I called and they gave me a line about using a different "indexing system." A classic bait and switch. Funny that the two other mortgage companies we received quotes from used the same FICO score we got from our reports--the right scores. Thankfully, we could shop around. If you are thinking about going with Amerisave, you should too. If they are dishonest right out of the gate, just think how bad it could get when you try to close.

They adverise a 3.25% mortgage rate for a 15 yr. term but even their National sales manager (Marisa Davis) refused to tell me what you need to qualify for it. My credit is 780 & I think I qualify but she didn't not tell me who qualifies for this 3.25% scam rate they publish on their website. She told me to apply on line to see if I could get it. I am too wise to fall for that.

Amerisave is a very bad company. Beware! They tried to change the interest rate intially quoted, had terrible customer service and ultimately did not come thru with the refinance. I have a perfert credit score and credit history, have neve had an issue with over a dozen mortages/refi's until trying to deal with Amerisave. If I would not have put the credit report fee and home appraisal fee on my American Express and gone thru BBB to recover the fees I would have been our these monies. Stay away from Amerisave!

Worst mortgage company ever to work with. They say they are a direct lender, they are not. They are just a marketing company/broker. It's been two months now since I sent in my application and don't even know what's going on. They first said I was FHA approved at 4.25/4.7% (INT/APR), then changed their story and said they wanted 40% down on a 200k loan. After having to show them my builder was HOA approved, they came back with an approval letter at 4.5%. Day of closing they said it will take another 7-10 days for final HOA/HUD approval. Well it's been 2 months since I filled out my app w/ them, and i'm way beyond the 10-day decision period. They're ignoring my emails, they don't answer the phone. Trust me, do not deal with this company, you will regret it later. Just a matter of time before a class action is filed.

Having mortgaged or refinanced several times over the past 25 years, we felt fairly comfortable with the process. So, in spite of the unsettling number of poor reviews we read prior to selecting Amerisave, we were lured by attractive refinance rates and decided to give Amerisave our business. Never again. Fortunately, we were able to successfully close our loan last Friday, but the service Amerisave offered throughout the entire process was in every way, substandard.

First, communication was nearly nonexistent. Not only were our phone calls typically unanswered, our emails were acknowledged with "read receipts", but rarely responded to in a timely manner. And when we did receive response, vitally important questions were not addressed. But that was only the tip of the iceberg.

Amerisave took 57 days to complete the process and close our loan. And with phone calls and emails going unanswered, we were never really sure where we were in the process. This was even more frustrating considering the fact that the Amerisave website has a built in Loan Status feature that is designed to keep the client informed throughout the process. Unfortunately, our status was never kept current. In fact today, 6 days after our closing, our loan status still warns that Amerisave urgently needs Compliance Disclosures signed and returned. It also indicates that our title has not been ordered! NOTE TO AMERISAVE: IF YOU ARE TOO BUSY TO RETURN PHONE CALLS OR EMAILS, AT THE VERY LEAST, MAKE EVERY EFFORT TO KEEP THE CLIENTS LOAN STATUS UP-TO-DATE. Otherwise, it becomes a source of angst and disinformation.

Furthermore, despite having had 57 days to process our loan, Amerisave did not deliver our HUD and settlement statements in a timely manner. We received all of our paperwork via email less than 4 hours before our scheduled closing. And when they did arrive, they were incorrect. Taking a quick cursory look at the HUD, I immediately noticed that winter/summer taxes had been added to our principal. When I immediately contacted our loan processor, she acknowledged the mistake and said she would correct and reissue the paperwork. Unfortunately, when the corrected HUD arrived, it was still incorrect; showing summer taxes that had already been paid!

When I promptly emailed our loan representative (with tax payment receipt attached) to bring her attention to the over-charge error, she replied, I believe the HUD Settlement statement is accurate...

The proof was sitting right in front of her!

It took Amerisave 3 more tries to correct the errors and when we finally signed all the papers, the tax foible had STILL not been corrected! The statements we signed at closing DID NOT represent accurate financial information. When Amerisave finally did acknowledge the error, we were emailed a final corrected HUD; two days after we closed! Unfortunately for us, this meant it was too late to deduct the summer tax overpayment from our loan amount, which in turn, increased our principal.

I might also mention that during the last-minute rush to closing, Amerisave mistakenly emailed me another clients Final HUD statement! No further comment necessary.

Also be aware that the Up-Front settlement fees that Amerisave touts on their website are anything but Up-Front. The origination fee for example, can and will change by the time you close your loan. We were distraught by the fact that we had absolutely no control over our Rate Lock. Apparently, out rate locked at the very moment underwriting approved our loan. I say APPARENTLY because no one explained the process and we obviously had no control in the process.

Perhaps the most disturbing aspect of this experience has to do with our final Origination Fee. Obviously, your loan origination fee is an important consideration in choosing a lender and/or interest rate. When Amerisave notified us that our rate locked, effective 08/03/10, I immediately went to their website to find out what the advertised loan origination fee was for that particular day. It was $297.85 So, I copied the information (their webpage) and emailed it to myself for reference and verification.

We would later discover that THE Amerisave actual origination fee for 08/03/10 was something quite different: $626.08. We protested, sending Amerisave a copy of the webpage I saved on 08/03/10. But it would have absolutely no bearing on the matter. Amerisave explained that origination fees can change throughout the day and that my loan-to-value could also have a final affect on the rate. (Remember that THEY increased my loan amount when they added my Summer taxes to the loan amount!) Whats the bottom line? The borrower has no control over the final origination fee. Amerisave would like to make you think you do, but you are completely at their mercy.

There were several other missteps throughout the appraisal (they missed a half-bath) and loan process, but suffice to say that we learned the hard way. When you encounter scores of poor reviews pertaining to Amerisave service and performance, believe what you read.

Amerisave is simply the most dishonest company I have ever had the misfortune to do business with. Hands down they mislead, lie and refuse to return almost all calls. I applied for a refinance loan on August 23, 2017 and paid them for my credit report which by the way were in the 890 range from all three credit reporting agencies. I had a Senior Mortgage Consultant whose name was Robbin Mesmer, who provided close to zero assistance in processing my application. I spent two weeks unable to get logged into their online system to check my loan and sign papers because their system did not recognize my Qwest email account which is simply @q.com. After a dozen calls to Mesmer and to the customer service line I was fortunate to be connected to the only competent and honest person in the company. Cynthia Amborski who was a delight to talk to and competent enough to figure out the problem was as simple as using an alternate email address.
Finally on September 13th I was able to log in and sign the mandatory documents, in the interim I had provided them 100% of the documents they required from me. The appraisal was conducted and came in well beyond what is owed on the house, over $200, 000 in equity. On Tuesday September 21st Ms. Mesmer called me to tell me that all of the requirements had been met and that the loan was being transferred to Underwriting. Then on Thursday at 0803 I received two emails one from Ms. Mesmer with a link to my appraisal and one from her supervisor Todd Typiter telling me the loan was declined due to “Credit Application Incomplete”.
I then tried calling both Ms. Mesmer and Mr. Typiter four to five times each and sent them both several emails asking for a call back to advise me on what had gone wrong from Tuesday when Ms. Mesmer advised me that all of the documentation was complete and was being transferred to Underwriting and Thursday when the loan was declined.
After 5 days I have not received a phone call or an email back from either of them. They are truly a classless and dishonest company.

My advice is to avoid Amerisave like the plague; all they are doing is collecting the credit report and appraisal funds and then dropping your application. What a disgrace.

I have read many of the complaints. You who support Amerisave may have legitimate arguments that some of the complainers don't know what they are talking about. But my story is different. I applied for a conforming refi of $417K. My wife's and my credit scores averaged 780, excellent by any measure. My annual income is just under the mortgage amount. I have refinanced properties many times with no issues. This one was a slam dunk. Come to learn about a month after applying that Amerisave wanted me to hire an attorney to confirm that the square footage of my house on the county tax rolls is the same as what their appraiser came up with. There was a several hundred square foot difference per what they told me. I had put an addition on my house a few years ago, having obtained all of the required permits to do so - copies of which I offered to send Amerisave. Amerisave's appraiser actually valued the house under the county's assessed value. But they still wanted me to spend a thousand dollars or more for me to hire an independent attorney to see if he or she could find a way for the county to possibly raise my property taxes. Not only could I prove that I was a good citizen, but the entire issue had nothing whatsoever to do with obtaining a loan. So, it appears to me that they wanted my $575 that I paid for the appraisal (and you naysayers, don't think for a second that the appraiser is keeping the entire $575 - I guarantee you that Amerisave keeps a chunk of it) and then they wanted to call it a day. This is not a rant from an unsophisticated malcontent. This is the first time I have ever posted any complaint about any entity on-line. But I did feel this time that it was my civic duty to let the general public know the reprehensible way that I was treated. Perhaps Amerisave does a good job with other people. But my experience has been infuriating, to say the least.

They will pre-approve you then get a credit card number and hit you with $35 non-refundable fee. First and immediate step is they will set up an appraisal - at 150% above market - charge your credit card - again non-refundable - then the stalling will start, re-requesting of documentation to be faxed - it will takes months and that will end in no communication and no loan - This is not the company you want to do business with - they are the worst of mortgage broker industry.

Amerisave did nothing for me other than cost me $785.Every time I thought I was a step closer to getting my loan finished they kept asking for more and more documentation.The closing costs changed several times.Between the processor and the underwriter I never knew what was going on because thier stories were always different.All this went on for several months it was very frustrating.then my loan was denied and I was slapped with a $500 cancellation fee.So I got an appraisel I really didn't need that cost $250 and a $35 app.fee that turned out to be a total waste a big headache and now i'm worried this whole thing is a scam because nobody will contact me...this is a bad company stay away!

In line with the complaints herein, I can testify that my experience with Amerisave has been nothing short of dismaying. My wife and I have high credit scores, the appraisal came higher than needed, we provided right away every single piece of documentation required, we paid the fees and appraisal upfront to lock the rate, we eventually complained about not hearing anything from them in a month after getting "conditionally approved", and then we really heard nothing. Next thing, I checked the "loan status" on their website for a few days in a row where (please believe this to your benefit) I couldn't believe my eyes that one day they back-posted a lock expiration notice there (posted on the 10th of the month that we needed to close by the 7th or the lock will expire)! It is amazing to me how these people are still allowed to operate. I'd join a class action suit tomorrow.

We have been trying to re-finance through Amerisave for the past 4 months. We started when the mortgage rates were really low. They took money from us for appraisal and they have been delibrately stalling us for the last 4 months on pity excuses like give us the details of the credit inquiry made by dish network ( we installed Dish N/W at our house ) and there was one late payment made on a store card several months ago, where they needed every detail of why. We have excellent Credit history and have never lost our jobs in the last 14 years. We work in investment banks and still they have still not approved our refinance. If you complaint, they just say that we will cancel your application since the rates are high now.
Very Very unprofessional company. I will sincerely advice to go somewhere else for your lending needs.

My attempted refinance with Amerisave was the single worst financial experience of my life. These people are either totally incompetent or downright deceitful or both. This was a 60% refinance, I have excellent credit, yet they dragged out the loan for 4 months and kept springing new surprises on me. The very last day, after all the heartache and bad surprises, they sprung a new one on me and all they had to say is "... I am sorry it was not communicated earlier. Please let us know how you would like to proceed."
Horrible company to deal with. If I see them going bankrupt someday, I'll pop a bottle of champagne.

Amerisave looked good because of their rates. Then it went downhill. 30 dollar application fee. 325 dollar appraisal fee, which I had already from a month previously. I gave them all of the documents they requested after the credit check at which time they said it would be a "slam-dunk" approval. I gave them private information, W-2's, tax returns, bank account numbers and statements, savings account numbers, retirement account numbers, SSN's, Stock accounts, anuities, etc. Then when the day came for closing, they said they needed 8000 dollars for claosing cost and 2017 more for buying points down. News to me. Of course I could not do that. So I'm out 355 dollars and they have my most sensitive information. No telling what they charged on my credit card when they got the number for the application fee. I feel violated and scammed

In late 2017, I submitted my information on the web in an attempt to refinance my mortgage. I received calls from 4 different companies. Amerisave and another company had the best rate, but I decided to go with Amerisave because they seemed like the larger bank.

Once Amerisave actually started working on my loan, I was asked to send in many other documents. This occurred for about 30 days. It seemed that every time I would send in the document they were requesting, they would ask for completely new things. At the end of the process (about 50-60 days later, and countless hours spent), Amerisave declined our loan because “our income did not qualify for the amount of the loan”. Myself and my wife both have impeccable credentials, and have never had any problem securing a mortgage.

Luckily for me, the interest rates had remained relatively the same in the 2 month period. However, imagine if they had gone up. The error of going with Amerisave would literally have cost me tens of thousands of dollars.

I ended up calling the other company back that I originally chose Amerisave over. I explained to the new company why Amerisave declined the loan. My loan representative said that he was very familiar with Amerisave’s misleading practices and would have no problem getting me a great loan. With this company, I received a rate and cost quote within minutes.

They locked the interest rate with no cost or obligation to me. They completed the loan in about 25 days, with relatively low docuemtation from me. Anytime I had a question, it was responded to within minutes, even on weekends. They delivered on everything that they had told me upfront. I would recommend this company to anyone.

The company is First Integrity Inc. They are located in Orange County, California. Their website is www.firstintegrity.us and phone number is [protected]. Ask for Sam. They have an a rating on the BBB and all 5/5 star reviews.

Please do yourself a favor and stay away from Amerisave.

Run the other way from this company. They advertise low rates and credits toward your closing fees, but when a better rate comes up, they find some lame excuse as to why they cannot give it to you...I was threatened to be charged if I back out of my locked in rate, so I feel like I have no choice but to proceed. The person handling it all is Stephanie Gamet and user beware. They all seem to want to email, but not talk to your face. It is like texting...it is easier to screw with you when they don't have to talk to you in person.

If you have locked your rate in money or no money. (I try and not collect money from my clients because I really do believe that I am providing them with the best available financing.) sometimes the market works against you and rates improve after you have locked.

If rates had increased would you allow the bank to increase your rate?

If the lender has locked your rate in they are expected to deliver that loan if they don't they can be charged for non delivery. That charge will usually kick in if they have a number of loan fall out. That will typically happen when rates improve.

If you agreed to a rate lock just like you expect the bank to honor it, so should you! The bank didn't force you to lock the rate you chose to lock the rate.

Scam! This company is a scam! Applied to refinance our 1st and 2d mortgages and obtain a lower interest rate. Started out great. Promised low interest rate lock-in. We provided all documentation asked for, paid for the credit report and appraisal fee up front. When the appraisal came back, they had depreciated our property $15, 000 right off the bat, and then deducted another $18, 000 plus which was below the amount available to us for financing. When we requested to have the appraisal rebutted (which they offered to us out-right), all of a sudden the mortgage officer is on vacation for a week and then within a couple of hours of this request, we received a rejection letter by email. Stay away from this pretentious company! Lesson learned!

Whose side are you on? If you want to be "Customer Service" friendly and I am your client...then I would hope you are on my side, afterall...who is your paycheck coming from, Me...or the bank?

Put in a dispute with your credit card company and file complaints with RESPA, HUD and their local BBB. Goodluck.