Amerisave Mortgage
Reviews and Complaints

First, there was a lot of screwing around on their part, Amerisave. Next, I was charged far too much in fees for a VA streamline. They dickered with the numbers so many times, I have no idea what they did in the end. Last, they sold the loan before I had made the first payment, which is common practice, but it is a practice that I am not fond of since they have just walked away with thousands of dollars in fees that should have been nothing. since they should have been getting the interest which is hundreds of thousands at the end of the day. Would not recommend, if you are a Veteran, then find 1st Rate Home Mortgage, they are rated top notch and Veteran owned. I wish I had found them several months ago. I learned an expensive lesson.

Loan # 9340136, Started working with Rafael Sanchez, on May 31, 2019. We, jack and Beatrice Tullis, wanted to refinance and do a Cash Out, consolidate all of our bills, using our land and home to do this. Upon talking with Rafael, we told him that we had been discharged from a chapter 13 bankruptcy, up front, before proceeding with the loan; he came back and told us no problem, he could work around that, because he had a company that would work with us as long as we could show proof that we had our discharged papers, and I even sent him a copy of it as well; at that time he told us that we would have to pay a $500 application fee because we had been pre-approved for the loan. In the meantime, he started telling us, that we needed to send him certain documents, which we did, he came back and sent us a closing statement showing how much we had been approved for and going over the statement I, Beatrice, noticed that he hadn't added our home on there and I questioned that and he told me. We want a full refund of the $500. I am sending attachments with all forms and information requested.

I refinanced my loan which finally closed in November of 2017. I had at least three conversations with the loan officer about the PMI that showed up on my documentation. I was told over the phone and even have an email from him that states "Your loan is not allowed to change.  You finished with a loan without PMI, it’ll stay that way." My loan was immediately sold to another mortgage company and has since been sold again. This appears to be how they typically operate as the communication from them quickly stopped. Those involved should lose their license to sell and transact banking products. They appear to provide false information to a consumer with the knowledge that the loan will be immediately sold and that you can distance yourself from the transaction? My expectation is simple: Fix the loan at your cost and refund me for any PMI paid both past and future.

Let call this how not to get a home loan! We started the loan process with Amerisave Mortgage by securing a pre-approval followed up by a pre-qual and receiving a ready buyer certificate. This certificate states we had passed all requirements to get a loan, Preliminary doc has been submitted and reviewed along with credit worthiness.

The process started with our first contact Jessica Gibson who appeared to be our blocker. The original GATE KEEPER! Her job was misinformation and deflection. Jessica submitted our package to UNDERWRITING 2 days after receiving the loan contract from our agent. This packet went to their underwriting department which consisted of a person called Randy who was always gone on personal days. When he was in office he only returned call infrequently.

Randy sent us a list in the PORTAL of no less than 26 beginning items to collect and provide. We accomplished that task in 2 days. Randy continued to send list even though the list began to repeat it self. After notifying Jessica of the concern keeping in mind you could never speak directly to Randy, Jessica again was the blocker. Anoyed that we questioned his tactics he stepped up the reduclous by questioning us asking for letters stating why were actually planning to move. He then asked for a letter asking why I divorced 41 years ago, . I guess he ran out of legitimate question to stall with. 58 days and 78 docs later we still were in a holding pattern.

The seller pulled out due to extreme delays. We lost our dream home and were in a holding pattern selling our home due again to delays. We switched to a reputable loan company who closed the loan in 18 day with a minimum of docs. We shared some of the list of request and emailed comments from Amerisave and his response was Discrimination. Our new loan agent who has been in business for more than 30 years stated were singled out and discriminated against based on age and race. He stated we should pursue it legally. Run do not walk away from this company!

Leslie P

We applied for a cash-out refinance loan through Amerisave Mortgage Corp. on 7/20/2016.
Credit score 826, debt to income ratio 25%, employed at same job 16.5 & 30+ yrs.
After MONTHS of extensions, errors, & incompetence, were denied 11/2/2016 for a Small Business (SBA) FEMA loan lien that was known by the lender from day one. We were NEVER told it may be an issue. Instead, they took our money & wasted our time; THEN told us what they knew & should have discussed before money was given. I believe they intentionally get low appraisals through their own NOVO Appraisal service, which is supposed to be a 3rd party company that has no link to the lender or the buyer, but is ACTUALLY OWNED by Amerisave.
On 7/22/16, we were asked day/times available for appraiser to come. On 7/24/16, I received a date/time that was obviously NOT one I had ok’d. Was told 7/25 I would be contacted 7/26 with time that fits my (very open) schedule, was not contacted until 7/28. Had appraisal done 8/8/16. Although lender claims report would be available 2 days, we didn’t get the report until 8/31/16. It came back WAY too low. He had numerous errors in it, did not add upgrades, got addresses, date & sqft wrong, used comps in other towns (I could go on). We obtained a dispute form late afternoon 8/31 & was told to get own comps, photos & be very detailed with discrepancies. I was then asked less than 29 hrs later - at 7:58 AM on 9/2 if I was finished. They asked for my dispute back in ONE DAY, but allowed the appraiser over THREE WEEKS to get his in. I filed dispute 9/2/16, in one day, I did research, comps, photos, etc. spoke with local realtors who said appraisal was way off & a bank lending officer told me they refuse to use that appraiser due to incompetence. It took them 25 days to respond - Dispute denied, 9/27/16
We continued to work with them since we were out credit report ($29), appraisal ($440), & two payoff statement fees ($60). Was assured everything looked fine & my rate lock was extended. Due to appraisal, we were sent new disclosure with all the wrong info. Requested corrections, waited for updates. Not once did anyone mention the SBA loan may be an issue. We were concerned so 10/28/16 I contacted SBA. SBA said lender should have provided paperwork for a subordination agreement & I was told we could not get a cash-out refi. I told lender what SBA said so we switched to standard refi. New disclosures came back completely wrong AGAIN; it looked like someone else’s income, debts, assets & liabilities.
Amerisave kept stringing this along, got money, & now after 3 months & 3 weeks, they claim they can't lend to us due to an issue that should have been a red flag in the very beginning – the SBA loan. I am out money, but that's not the worst part. Because of how long they took, the interest rates are way higher should we want to refinance elsewhere!
I have e-mails of all the errors, the apologies, the excuses. The communication & writing skills of the processor were that of 14 yr old.
A senior manager called & said they could go on with the loan if I paid $3, 800 off on the SBA loan, but their figures didn’t add up. I believe the company is a scam. The fact that they are allowed to use their own 3rd party company for appraisal & Title & Escrow should be against the law. They were sued in the past, & I think they are up to their old tricks again. (see link below)
http://www.law360.com/articles/566505/cfpb-fines-amerisave-19m-for-bait-and-switch-scheme
DO NOT use Amerisave! DO NOT let anyone use NOVO Appraisal Services!

What can I say that hasn't been said about this company already by the numerous reviews below.I started with a refi inquiry on Lending Tree and was immediately contacted by Salvador Ortiz.

He said he would run my credit report and see where we were at. After running the report, he said everything looked good and we could start the process by ordering an appraisal that I would have to pay for. He said that he didn't see anything that would prevent a fast approval. I'm at almost six months and it's been one excuse after another.

Oh we need this document or we are working as fast as we can. They know that they have my appraisal money and can string me along for as long as they want. They are hoping I get so fed up that I cancel so they can keep that money is what I'm assuming.

Run away from this company.

I've already filed a complaint with the BBB of Atlanta.I'm also going to write a letter to the Attorney General of Georgia about this rip off of a company.

SCAM! Buyer Beware! I have a 782 credit score, had $50, 000 in equity on my home and shouldn't have been a problem to refinance. They are continuing to use Bait & Switch tactics. They advertise a low interest rate and low closing costs to "bait" you in and then have your appraisal come in very low (just above the amount you want to finance) and then say they can still finance you but you have to pay a higher interest rate and higher closing costs. I had my home appraised 1-1/2 yrs prior and it was $50, 000 more than their appraisal. The appraiser was a joke. He used someone else's photos in my appraisal report and wrong square footage for my house and wouldn't correct it and redo the report. The appraiser basically blamed the mortgage company saying they set "guidelines" for him to follow on the appraisal. Basically, AmeriSave told him to come in low on the appraisal. This company was fined for using bait & switch tactics and they obviously are still doing it today. Don't use them! You will lose $400 for your appraisal and not get refinanced.

AmeriSave has the worst customer service correspondence. They say they strive to put their customer first but it is all talk. After getting a prequalification, it took them 4 months to close on my loan and then I had to ask them to rush the request because although they knew the closing date they failed to get out the "correct" forms to me in a timely manner.

Then they sold our mortgage and didn't notify me until after i received a bill from our new mortgage company furthermore they didn't even mention any payment due send any bills that I owe them premium. Being a new homeowner, I thought that since my loan was sold, that the whole loan starting from the 1st mortgage payment was also sold to our new mortgage company.

Then almost a year later they tell us that we still owe them a premium even though they sold our loan and that our bill is delinquent failed to provide a bill or a return envelope. Obviously they have not been trying to reach me as to their"best effort" as they stated in their letter.

For the sake of "trying" to provide better customer service they should at least provide a bill with a return envelope. This should be a no brainer.

Further more, once I reached out to them it took them 3 days to reply and when they did they did not even apologize or thank them for reaching out to them and they failed to address me correctly when they should be address me as Ms. instead of Mr.

The best thing out of this whole ordeal is that my mortgage is no longer with them.
My experience with their company was horrible and so frustrating at their communication methods.

Same story as others... perfect credit over 800, mortgage loan request under 50% value of our home, appraisal completed and paid for, etc. We were told everything looked great (after weeks of providing additional documents.) But, when the closing date kept dragging out, our loan officer told us "something she wasn't allowed to share with us"... we didn't own the mining rights on our property. Not a big surprise because Alabama is an old Steel industry state, almost all surface rights ownership is separate from mining rights since the 1800's AND it's documented in our deed and current title policy. Amerisave should have communicated their policy to us immediately after receiving a copy of this information and saved us the cost of the home appraisal and weeks of this process. Amersave's policy is: they will not approve a loan unless the title company insures against damages resulting from a mining rights owner destroying your property. And, no title company will insure against that. Our home in a year old in a newly built subdivision; with businesses, homes and a mall surrounding the area. Our previous closing attorney called Amerisave to try and help explain the legal aspects of this and his words to me were "You can't fix stupidity, Amerisave doesn't understand this isn't an issue. Local laws would never allow damage to people's property." We will only be using local Mortgage companies in the future - dealing with Amerisave was a real pain.

It is always difficult to admit when you get ripped off, but this company is so blatantly fraudulent that my story needs to be told. As you read all of the other similar reports, a pattern appears. Further, Amerisave just settled a class action lawsuit by prior clients for very similar fraudulent and unethical behavior, paying out $millions in the settlement.

I am a small business owner (35 years) with great credit (810) and above average income (averaging over $200K) with no debt other than 2 first mortgages on my primary and vacation homes. My total mortgage payments for both including PITI is $3500 / month. I take a modest salary, but my Sub S business provides additional income. On top of that, I have $1.4 Million in liquid investments which return $75K annually. I had refinanced one of my homes one year ago, but wanted to save even more on my payments by refinancing again at the new, low rates. My income in 2011 was over $250K and this year was ~$222K.

I responded to an Amerisave AD on Yahoo! and saw their great rates. I applied, talked with an agent who gave me a list of documents they needed including income verification (tax returns, W2's, bank statements). These I provided within 24 hours. I was then told that because of my high income, I was qualified for the refinance and my desired rate was locked in. An appraisal was ordered immediately and returned slightly under my last appraisal, but still within 77% loan to value. This affected my lock rate, but I told the agent I would simply put up some cash at closing to get it to 75% to achieve the best rate. Since rates had gone up, I was told that his manager would not allow this. This was my first red flag, because my prior lender (a bank) allowed me to do this very same thing.

Next came the endless parade of document submissions, many of which were duplicate requests. Underwriting sent a request for my tax information to the IRS with the WRONG address and it was rejected by the IRS. Underwriting demanded a letter of explanation from ME, as if it was my mistake, even though I warned them in advance they were using the wrong address (I have filed my personal income taxes using my business address for over 20 years). None of my prior lenders had ANY problem with that. Then came the week long silence.

Finally I received an email from the agent saying I didn't have sufficient verifiable income, when in fact they had in hand statements from payroll and my bank showing that I had far in excess the amount needed to qualify for this $1600 / month loan. The agent also stated that as a small business owner, it was difficult to qualify for a mortgage! This I find interesting considering the fact that in the last 5 years, I've purchased my two homes and have qualified for loans (and refi's) . I also find this interesting because Amerisave knew up front that I was a small business owner and they had no problem accepting my loan application (and fees).

I tried to contact the loan agent and his manager, but they would not return my phone call. However, they immediately charged my credit card for the appraisal and prior fees.

Amerisave is probably one of the worst examples of internet business. Looking back, I should have refinanced through my last lender who was honest and straightforward. Amerisave got my business because they advertised cheap rates and I did not do my due dilligence.

If you have read this review, I seriously hope you find another place to get home mortgage financing.

You can get a reasonable mortgage deal if you carry a big baseball bat and scrutinize every details to keep them honest. Their customer service giving the loan is middling average to bad.

BUT their customer service to make your loan payments on line stinks. The system locks you out and says call customer service except there is no phone number anywhere. All phone numbers available on the parent website are "not the right department" or only allow voice mails that are never answered.

Applying for a refinance loan on my home. Amerisave ordered the appraisal and did not like it and ran their own numbers in an automated system. The Appraisal was spot on for the value of my home and for the area, Amerisave dropped the value on their on 200k and denied my loan. Cost me $400 in an appraisal when they could have done this at the beginning of the process. Wasted 45 days in the process and 2 weeks to go before the close they deny me the loan. No phone call, no reall explanation - just DENIED! when I did talk to someone they stated it was too high of a risk. I have a credit score of 800+, no bills except the mortgage on the home, and the same job for the past 24 yrs.

I started the process of refinancing my one property in mid August and submitted all documents within TWO days of the request. I immediately paid a very expensive appraisal fee for the house and the credit report (total of 566.50) so that the process can be completed and approved. I have a credit score of over 790, net income of over 200, 000, real estate income at net 50K a year, over 20 years of work experience, and no debt! The loan was for only 199K! This is a no brainer. However, there was no response from AmeriSave for a very long time and I have a record of emails where I kept writing to the loan officer asking for information and pushing. Again, nothing. I never received any response from the loan officer until I demanded a response. Finally, I receive an email stating that yet again, I had to supply some erroneous documents for approval. I realized that I had already supplied the SAME document previously and they just overlooked it. On the day of settlement, no one shows up. I get an email stating that the title company sent the documents to the WRONG FILE! I waited for HOURS to get this process completed and settled. Next, I get an email from AmeriSave stating that the previously submitted POA in early September was not legitimate even though I submitted these documents to them MONTHS ago and followed by their exact instructions! I didn't even receive a correct HUD on settlement. They actually didn’t provide the settlement attorney name, no HUD form, and the wrong policy number! To make it worse, when I asked questions, I received nasty responses from the loan officer yelling at me through email! This is their delay tactic and I believe that this violates the Truth in Lending Act and state consumer protection statutes. Amerisave engaged in unfair and deceptive practices in the selling of this residential mortgage. Amerisave promises customers they can quickly obtain a lock-in of a low interest rate, and requires the customer to pay upfront fees in order to obtain it. These deceptive practices should be punished and this company should close down before any additional customers are hurt.

If you have gotten to this website, you are lucky. I am in the process of submitting a complaint to the BBB against Amerisave for misrepresentation. Guess how many complaints have aleady been filed with the BBB? 568 to date and no doubt growing! Inform yourself first. Read all the complaints and then decide if going with this non-BBB certified company is worth the pain.

Anyone who is considering apply a mortgage loan through Amerisave please stop waste your time, especially if you are in a rush try to close a loan, don't ever think about Amerisave, no matter how great your credit score is, this company is not easy to work with. We had waited 5 moths to get our short sale house finally approved, we had the loan pre approved by Amerisave, the bank require us to close the loan in 30 days, we didn't hear any bad news until two days before the closing deadline, they require massive repairs even the appraisal price is $27, 000 higher than our purchase price. The agreed purchase price is already well below normal sales price, seller sell the house as it is. If we know in the begging that we will incur this problem, we will not waist a minute with Amerisave, now the house is very likely will go to foreclosure, which means another 6-8 months processing time, what a big lesson I learn from Amerisave!

I filled out an application on line and was contacted by Aaron Hoisington and he said that our credit score was not high enough for them to help us. He referred me to Heartland Credit Restoration. He told me to speak with Trisha. She advised me that she was going to send me a contract and that I had to pay them $700.00 before they could help us. We signed the contract and sent $100.00 with it. A few weeks later, we were emailed that they were going to take the other $600.00 out of our checking account. Trusting Aaron, I allowed them to do this. Well, it was a while before we heard from them. They told me that they were going to send out dispute letters to the creditors. They did. We got several letters from the creditors that we had settled with for less than what we owed them and they had forms with the letters for us to sign saying that we disputed the debt. I emailed Corey or Paul from Heartland a letter stating that we did not dispute these debts and that we were not going to sign anything that said we did. They said to send them everything that we received from creditors, credit bureau companies, etc. which we did. I asked them on several occasions to call Aaron at Amerisave and see if our credit was any better. They refused. Finally I got fed up and called Aaron myself. First of all, he denied referring me to Heartland and that he had never heard of them. Needless to say, he was rude and sort with me and told me to fill out another application on line. Well I did this and he emailed me back and said that our middle score was 637 and 3 points away from being able to go FHA. Before this, he told me that since the house we found was not in a rural area that FHA would not finance the house. That right there shows he was lying to me. He said that the problem was that we still have debts showing on our credit that are in the dispute/late/in collection still and that I should get those paid off or I will never get a loan regardless of our score. He also stated that we should get in touch with the people that are fixing our credit and let them know there are some disputes and past due items still showing and the reason they aren't giving me any information is because they aren't doing their job and that he has seen this before. If he knew this why did he refer me to them in the first place. (Of course he denies referring me to them). He told me to go to freecreditreport.com and pull a copy of my report for free and I would likely see the same thing he did. He said Heartland might not be showing me everything so they can keep working on my report without getting me mad and so that I will keep paying them $90.00 per month. Someone needs to stop these people. Please help people in my situation. Thanks, Wanda Holmes, email [protected]@troycable.net, phone [protected].

Please avoid Amerisave. They encourage lenders to apply with them to not loan you money but take money through a scam. They own the appraisal company so when the required apprasial, in my case $375.00 is charged, they have made their money. Don’t believe any advertiesment from them since it is only an inducement for your stupitdity and they know it. Will you get the mortgage loan, probably not but you will have lost money. Don’t believe me, read the horror stories about AMERISAVE online. Instead of being called AMERISAVE THEY SHOULD BE CALLED AMERISCAM.

After applying for a mortgage with Anerisave, I can say that the whole process was a big waste of time. My wife and I filled out all the forms, sent in all paper work requested. Although the adviser was very nice, we were not able to get an answer as to if we could be refinanced. This went on over a week. Further, they would not return phone calls either. Finally when I did talk to the advisor, she still said they could not give me an answer. Now my wife and I have a credit score over 800+, immaculate credit and have not missed any payments. If we can not get refinanced to a cheaper loan, then no one can. Do not waste your time with Amerisave.

My loan app was for a refinance. Home loan secured with local bank 1.5 years ago, no probelm obtaining this loan. Amerisave rep, Larry Barba, told me that my loan approval was a sure thing, they even ordered my lawyer to do the title work in advance of approval. Appraisal department caused loan to be declined, even though home valuation/LTV ratio was acceptable. They felt there was not sufficient comparables, not true. I even had a local realtor do a free comp search for them, and they accepted this comp search, but still would not approve loan. Please do yourself a favor, don't waste $500 and 6 weeks of time and effort trying to get a loan with this worthless company. Pay a little more, do business with reputable banks.

I'm putting in a dispute with my credit card company and will be contacting RESPA, HUD and BBB, I encourage EVERYONE here to do that. Based on my research after-the-fact if you pick a loan option without hefty closing costs they'll find a reason to deny you. I have an excellent credit score, current on my mortgage etc yet they hassled me for documents after documents until they asked me for one (irrelevant doc) which I don't have or any control over. That was it, they denied my loan application. I contacted their VP Michael Clarke who turned out to be very unprofessional and unhelpful.