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Amerisave Mortgage Complaints & Reviews

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Amerisave Mortgage - Georgia, Atlanta - Avoid Amerisave At All Cost

Posted: 2013-01-13 by    PaulRG
Complaint Rating:  100 % with 2 votes
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...
Complaint comments Comments Complaint country United States, Georgia, Atlanta Complaint category Loans

Amerisave Mortgage - Georgia, Atlanta - Fraud

Posted: 2012-11-23 by    coachkoop67
Complaint Rating:  100 % with 1 votes
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+,...
Complaint comments Comments Complaint country United States, Georgia, Atlanta Complaint category Loans

Amerisave Mortgage - Do not waste your time with Amerisave

Posted: 2012-04-22 by    Tiwisted
Complaint Rating:  100 % with 5 votes
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...
Complaint comments Comments Complaint country United States Complaint category Mortgage Companies

Amerisave Mortgage - Employee discrimination

Posted: 2011-05-08 by    poor employer
Complaint Rating:  50 % with 2 votes
Amerisave has received numerous consumer complaints. What many do not know is that they treat their employees poorly as well. They hire and fire based on poor decisions made by management. They select a small group of employees to be loyal to and have no regard for performance. The majority of employees are paid 100% commissions and end up on a draw, which is where they want the employee to be before they get fired. Amerisave is unethical and the numerous former employees should band together on a class action law suite....
Complaint comments Comments Complaint country United States Complaint category Job & Career

Amerisave Mortgage - Texas, Plano - poor business practices

Posted: 2011-05-06 by    MacAlpine
Complaint Rating:  100 % with 8 votes
We chose Amerisave because their closing costs were supposedly much lower than their competitors and they had a good Better Business Bureau rating. I became suspicious after they began a loan process, charged us $375 for an appraisal and then we were told that we would be charged another $500 if for any reason the loan did not go through. After being told that we qualified, and after sending pretty much every single item of financial information to them for the last 10 years, we were suddenly stonewalled by outrageous requests for more documentation. I became suspicious and told them that they would...
Complaint comments Comments Complaint country United States, Texas, Plano Complaint category Mortgage Companies

Amerisave Mortgage - South Carolina - Fraudulant advertising

Posted: 2011-03-30 by    J. C. Laurens
Complaint Rating:  100 % with 6 votes
I applied for a Mortgage refinance through Amerisave. After paying the nonrefundable deposit to start the process, we got started on the paperwork. We exchanged paperwork for 6 months which included 2 appraisals and many duplicate paper work including tax returns, bank account records etc. I have a credit score of 787, the house appraised for 2 1/2 times the amount of the loan, have a job that pays over twice the loan amount, and have an average bank account balance of 3/4 the amount of the loan and no consumer debt or car payment. I was rejected with no reason. I think that they are in the business...
Complaint comments Comments Complaint country United States, South Carolina Complaint category Loans

Amerisave Mortgage - Georgia, Atlanta - Unauthorized Charge upon Withdrawal of Application

Posted: 2011-03-28 by    GidgetGirl
Complaint Rating:  100 % with 6 votes
In Sept. 201o I decided it might be a good time to refinance my 30 year mortgage to a 15 year. Unfortunately I chose Amerisave Mortgage to do this. I stated the process, send all the documentation they asked for (w2's, tax returns, pay stubs etc.). My credit score is 815 and I wasn't taking any cash out. I have enough cash assets to pay off the mortgage if I choose and job that pays 100k/year. Seems simple, yes? I assumed that within 6-8 weeks the process would be complete, but no... Appraisers were sent to my property twice, because for some reason the first one was unable to do the appraisal....
Complaint comments Comments Complaint country United States, Georgia, Atlanta Complaint category Mortgage Companies

Amerisave Mortgage - Georgia - Scam

Posted: 2011-02-22 by    Scottie R.
Complaint Rating:  100 % with 4 votes
Beware of this company. Their goal is not to fund loans. Their goal is to collect $500 from your credit card. This is done by having you sign a cancellation form that "allows" them to hit your credit card when THEY
cancel your loan. I have a 780 credit score and an LTV of 60% and gainfully employed as a physician. This was a slam dunk refinance.
What a business! Two thousand of these x $500 and you've got yourself a million dollar company without providing ANY product or service!
Save yourself the TIME and money and use a reputable company....
Complaint comments Comments Complaint country United States, Georgia Complaint category Loans

Amerisave Mortgage - Georgia - Mortgage refi

Posted:    Atlantaron
Complaint Rating:  100 % with 5 votes
It took 4 months to finally close. My contacts at Amerisave were incompetent and uncaring. I could give MANY examples - I have MANY emails showing MANY problems. The first closing attempt failed due to mistakes on the closing documents and had to be rescheduled. I have been through 8 closings in my life and this was EASILY the most frustrating of them all. Again, over 4 MONTHS to get this done!!!...
Complaint comments Comments Complaint country United States, Georgia Complaint category Mortgage Companies

Amerisave Mortgage - Colorado, Denver - Horrible Experience

Posted:    Jennifer in Denver
Complaint Rating:  100 % with 6 votes
The experience I have had with this company is horrible. I locked in a 60 day rate agreement on September 7 2010, the terms of which would cover all my closing costs. Ater 70 days of continuous runaround, and $500 in expenses, I found out they ordered three payoff statements from my current mortgage lender, for $30 each, at my expense. I assumed the terms of my lock agreement had expired, and sent an e-mail to my loan processeor expresssing my discontent. He assured me the terms of the rate lock had not changed. On December 11th, they requested that I sign a new Loan Terms Agreement to replace the...
Complaint comments Comments Complaint country United States, Colorado, Denver Complaint category Loans

Amerisave Mortgage - Georgia, Atlanta - Bad Business

Posted:    Christie Gilbert
Complaint Rating:  80 % with 5 votes
I applied for a loan on the first of September. One of the first documents that I had to suppy was the contract for purchase. The contract clearly stated it was due by the 16th of September. If this was an impossible date for them to make a committment I feel they should have communicated that with me. I supplied them with all of the paperwork they requested usually within the hour. Some of the paperwork I had to send twice. We have excellent credit and were putting 20% down. It appraised for $57, 000 more than we were borrowing. Nothing in that aspect to hold up an approval. When the contract date...
Complaint comments Comments Complaint country United States, Georgia, Atlanta Complaint category Scam & Fake Checks

Amerisave Mortgage - Georgia, Atlanta - Unwilling to disclose info

Posted:    Eric99
Complaint Rating:  20 % with 5 votes
Prior to spending any money, even on a credit report, ask for a copy of the mortgage contract in advance. They will tell you they are unable to until you apply, but that is crap. They can give you basic details using your city, state and loan type. Amerisave refused to even respond to my request. I talked to Sean Park (Atlanta, GA) who assured me that I would be given every piece of info I wanted prior to starting but then I never heard from him or Amerisave again. Beware of anyone who won't provide basic info aside from government mandated disclosures. Beware....
Complaint comments Comments Complaint country United States, Georgia, Atlanta Complaint category Mortgage Companies

Amerisave Mortgage - Refinance

Posted:    vtec786
Complaint Rating:  96 % with 27 votes
I was in the process of refinancing my mortgage and looking for the BEST rates available. I already was about to close with another lender when I saw an AD for amerisave.

I took a look at it and contacted amerisave and began asking questions.

I spoke with a gentleman with the initials HM (name not disclosed for privacy) there from the start. From April 20-23, I have 43 emails in my INBOX from HM.

The very first one starts with this question I asked: "A bank gave me a new refi offer of 4.375%,
$2263 monthly total with tax and escrow, And...
Complaint comments Comments Complaint country United States Complaint category Mortgage Companies

Amerisave Mortgage - Oregon - Dishonest and Unethical

Posted:    go.jerryh
Complaint Rating:  100 % with 15 votes
BEWARE - Amerisave Mortgage engages in deceptive and unethical business practices.

Easily qualifying for a cash-out refinance loan, I was offered competitive rates and terms from Amerisave -- too good, it turns out for Amerisave. AFTER paying $400 for the required appraisal, Amerisave changed their rules, contradicted their loan officer and backed away from the loan.

Any responsible company would cover their error and make good on behalf of a client that was mislead. Amerisave is not such a company....
Complaint comments Comments Complaint country United States, Oregon Complaint category Loans

Amerisave Mortgage - Georgia, Atlanta - Compensation to loan officer employees

Posted:    qualified
Complaint Rating:  95 % with 20 votes
Twice now this company has maneuvered to remove legitimate posts to other forums about the deceitful employment practices. I am reposting here to alert the public and future employees of their lies.

Want to know what Amerisave truly pays it's loan officers? Refer to this sales speech below with my note with a * next to each section

AS Mgt: We are lowering the loan loss reserve from 30 basis points down to 20 basis points.
* 20% off of LOAN VALUE, not markup+YSP. Previously it was 30%.

AS Mgt: We are also increasing the pay for outside sales...
Complaint comments Comments Complaint country United States, Georgia, Atlanta Complaint category Mortgage Companies

Amerisave Mortgage - Florida - Scamming people

Posted:    Sunny123454
Complaint Rating:  94 % with 17 votes
Sure wish I had read the complaints before I let the "high pressure, used car salesman" hook me for the credit check and apprasial.

After several unreturned calls and emails, to Jerry Vichcales, I finally was told that Jerry was laid off. He had promised me the rate was loecked in at 4.625% for 30 yrs and had taken Apprisal and credit check fee. Then after 3-4 weeks I started inquiring then they told me that Jerry has been laid off and my rate was not locked, they only lock in the rate, once they recieve ok from my second mortgage, it was company policy.. WHICH THEY FORGOT...
Complaint comments Comments Complaint country United States, Florida Complaint category Home & Garden

Amerisave Mortgage - Maryland - Poor experience with Amerisave

Posted:    MP MD
Complaint Rating:  82 % with 11 votes
Got enticed with their low rates on website and paid the initial credit report fee. The rates that came back were almost 0.5% higher because "my credit rating of 750 was not good enuf". That was my first red flag. I was dealing with someone on the phone and email at 10PM on a Friday night, which was another red flag. Then he started to pressure me to provide a credit card number for an appraisal that could be wrapped up by the weekend. That is when I did an extensive internet search and came accross several complaints. I havent seen a copy of my credit report from them. I consider myself...
Complaint comments Comments Complaint country United States, Maryland Complaint category Mortgage Companies

Amerisave Mortgage - Bad business practices

Posted:    TCroly
Complaint Rating:  100 % with 13 votes
Amerisave Mortgage practices the worst form of Bait and Switch. They advertise low rates. Draw you in with an online application process and then get you to front money for credit report and appraisal fees. after that they jerk you around and try to get you to pay a much higher rate. If you refuse, then they say oh we cannot approve the loan we told you that were were pre-approved for.

Their scam is that they take in lots of applications on the promise of low rates, but then if rates in the general mortgage market don't drop, they cannot deliver on the commitments they made and...
Complaint comments Comments Complaint country United States Complaint category Mortgage Companies

Amerisave Mortgage - Tasks must follow???

Posted:    Unhappy in Warsaw, IN
Complaint Rating:  100 % with 10 votes
We are going through the same thing. I was interested with the interest rates, quick closings, and all of the daily commentsx posted on thier web site. My husband was "pre-approved". We paid for the loan application, appraisal, inspection, and the credit reporting services, CredCo. We were told by Amerisave CredCo was unable to get a credit score from my husband. He is 30 something and has never owned a house, and has no debt.

Amerisave told him that he must file an Anthem credit report with CredCo. This took two weeks. Meanwhile we has to move out of the condo we were renting....
Complaint comments Comments Complaint country United States Complaint category Loans

Amerisave Mortgage - Georgia, Atlanta - Unwilling to keep original agreement.

Posted:    sydam2009
Complaint Rating:  93 % with 14 votes
Beware... If you are purchasing a home, Amerisave will find appraisers to match your purchase price BUT if you have equity and want to refinance AMERISAVE finds appraisers who will lower the value of your home. The lower your appraisal the more lending fees Amerisave can charge. They don't tell you this until after they take $35 for credit check, $400 for appraiser and $500 "hostage" fee. The "hostage" fee is to keep you at the mercy of the company when they low ball your appraisal value. The appraiser they sent was their 9 minutes and withing 3 hours turned in a market...
Complaint comments Comments Complaint country United States, Georgia, Atlanta Complaint category Loans

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