Amerisave MortgageFraud and scam

M

Usually would never write one of these complaints but my experience with Amerisave was so horrible that I feel compelled to. If you are reading this, it is my sincerest hope that what you read here will be enough to convince you to do business elsewhere. There are plenty of good mortgage companies out there... they just aren't one of them. I wish I had found this site before the fact. Anyways, down to business.

I wanted to refinance and locked with Amerisave in December of 2008. The rate and fees were very competitive. After paying the initial application fee of $35, I began the loan process with them and after being 'pre-approved' I was required to pay $325 for an appraisal. I did so and my appraisal came back at $199, 000. That was great for me since the loan amount I was looking for was only $156, 000. Over the next month and a half, I would continue to be told 'we're almost done' and 'we're about a week out'. That's when I got any response at all. My loan advisor, Roger Lee, would absolutely not provide any information unless I nagged him. Looking back over all the e-mails, phone calls etc, I can't remember one time where he contacted me on his own to provide any information... His communication with me was limited to responses to my own inquiries- basically he only told me anything if I barraged him with e-mails and phone calls.

On February 6th, 2009 (remember, I locked in December - 12/12/2008) I was told that my property was 'unacceptable' to the lender, and that it did not meet Fannie Mae/Freddie Mac criteria. That's total B.S. since I already hold a mortgage that met those guidelines. I talked with several people in my condo building who had been refinancing over the 2 months Amerisave screwed around, and not one of them had any problem with these 'guidelines' - of course the one thing they all had in common was that they did not choose Amerisave to do business with. At the end of the day, I lost 2 months of time and gained a whole bunch of stresses and headaches, with nothing to show for it but a lower number in my bank account.

If you're interested, my theory is they essentially get you on the hook by making you pay close to $400 up front (Application + Fees) which makes you want to stick it out to the end. Meanwhile, they are hoping the market interest rate tilts in their favor so they can actually deliver on what they promised you and still be able to make a huge profit. I know in my heart that my loan was denied because this 'float' strategy did not work for them so they had to come up with a reason to deny the loan. My credit score is 760, I make about 70K a year and my LTV would have been about 78% based on the appraisal, and my property met all the federal guidelines. In the end, they didn't lose anything but they would have probably tried to close this if the interest rate went low enough for them to make a fat margin by closing it at the terms they promised me. I truly hope that if you read this, you will find someone else to do business with. Ask your friends or someone at work and find a lender that people have had good luck with. As they say 'If it's too good to be true, it probably is' I learned that lesson the hard way here.

Responses

  • Be
    Benny Feb 19, 2009

    Usually would never write one of these complaints but my experience with Amerisave was so horrible that I feel compelled to. If you are reading this, it is my sincerest hope that what you read here will be enough to convince you to do business elsewhere. There are plenty of good mortgage companies out there... they just aren't one of them. I wish I had found this site before the fact. Anyways, down to business.

    I wanted to refinance and locked with Amerisave in December of 2008. The rate and fees were very competitive. After paying the initial application fee of $35, I began the loan process with them and after being 'pre-approved' I was required to pay $325 for an appraisal. I did so and my appraisal came back at $199, 000. That was great for me since the loan amount I was looking for was only $156, 000. Over the next month and a half, I would continue to be told 'we're almost done' and 'we're about a week out'. That's when I got any response at all. My loan advisor, Roger Lee, would absolutely not provide any information unless I nagged him. Looking back over all the e-mails, phone calls etc, I can't remember one tiime where he contacted me on his own to provide any information... His communication with me was limited to responses to my own inquiries- basically he only told me anything if I barraged him with e-mails and phone calls.

    On February 6th, 2009 (remember, I locked in December - 12/12/2008) I was told that my property was 'unacceptable' to the lender, and that it did not meet Fannie Mae/Freddie Mac criteria. That's total B.S. since I already hold a mortgage that met those guidelines. I talked with several people in my condo building who had been refinancing over the 2 months Amerisave screwed around, and not one of them had any problem with these 'guidelines' - of course the one thing they all had in common was that they did not choose Amerisave to do business with. At the end of the day, I lost 2 months of time and gained a whole bunch of stresses and headaches, with nothing to show for it but a lower number in my bank account.

    If you're interested, my theory is they essentially get you on the hook by making you pay close to $400 up front (Application + Fees) which makes you want to stick it out to the end. Meanwhile, they are hoping the market interest rate tilts in their favor so they can actually deliver on what they promised you and still be able to make a huge profit. I know in my heart that my loan was denied because this 'float' strategy did not work for them so they had to come up with a reason to deny the loan. My credit score is 760, I make about 70K a year and my LTV would have been about 78% based on the appraisal, and my property met all the federal guidelines. In the end, they didn't lose anything but they would have probably tried to close this if the interest rate went low enough for them to make a fat margin by closing it at the terms they promised me. I truly hope that if you read this, you will find someone else to do business with. Ask your friends or someone at work and find a lender that people have had good luck with. As they say 'If it's too good to be true, it probably is' I learned that lesson the hard way here.

    1 Votes
  • Sc
    scottyb Mar 02, 2009

    Add Rosario Tyson to the list of dishonest lenders. Pulled a bait and switch, locked at a lower rate and fees, then got the loan docs at a higher rate and fees, non responsive to calls, and guess he wasn't lying when he said he had 16 years experience and would take care of us.

    I would go elsewhere and did, got a better rate, lower fees, and better service at themoneystore.com.

    1 Votes
  • Wa
    WaPa Aug 20, 2009

    Excellent theory on Amerisave's fraud/scam. That is EXACTLY the theory I thought of lol. They did the EXACT SAME thing to me and have not honored my closing costs. Sara Cade was my loan person and she told me to just pay the $400 and "see what happens"! Ridiculous!!! THEY ARE SCAM ARTISTS FOR SURE!!!

    0 Votes
  • Da
    david_smyth Aug 22, 2009
    This comment was posted by
    a verified customer
    Verified customer

    Exactly my experience. Amerisave is clearly a bait-and-switch fraudulent operation.

    0 Votes
  • Ba
    Banker Barry Oct 20, 2009

    Bad loan officer. He should have checked to see if your property was FHA-approved before wasting your money. You can check HUD's website to see if it is approved. If it is not then your lender would have to gather a lot of info (most won't if they already haven't) from the condo association. Also, FHA will only accept a certain amount of properties in that development. There are only a couple of options for condo financing now and that is FHA or a bank portfolio loan. Good luck.

    0 Votes
  • Kl
    KLM114 Oct 22, 2009

    Same EXACT thing here.. this company ought to be put out of business. I used them before and it was fine but this time it has been a nightmare! And now I have paid for a home appraisal that is useless. Other brokers I've talked to are shocked that they are allowed to continue operating with such shady practices. I am for sure going to report them to the BBB and states attorney general. I'll prob never see my money back but if I can stop some people from getting ripped off and make them lose business then that's I'll live with it - lesson learned!

    0 Votes
  • Kl
    KLM114 Oct 22, 2009

    I contacted Fannie Mae to report them as well as the BBB and their states attorney's office - if more and more people report them, hopefully someone can put a stop to them ripping people off.

    http://www.fanniemae.com/contact/mortgagefraud.jhtml;jsessionid=5OEJB55H4N5TJJ2FQSISFGQ?p=Contact+Us

    0 Votes
  • Tr
    trktchr Dec 03, 2009

    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 Anthony Wong, I went over his head to his supervisor that, believe it or not, operates in the same manner.

    When Anthony finally got a hold of me he told me that it could not be sent to the underwriters without being able to show 6 mos. of liquid assets.
    Our 401K has over 180K in it--that's not enough? Anyway he told me 6 mos @ 700.00 mo, $4200.00. Ok, we were selling some vacant land we owned, no problem.

    We deposited $5000.00 into savings, we were then notifed by him that the underwriters still would not take this, the liquidity needed to be closer to $8000.00.

    Lets see 180, 000.00 plus 5000.00 -- huh, when I went to school this number exceeded what they were asking for. Before you say, well, they must have had a bad credit rating, we are in the 730 - 750 range.

    We had initially contacted them in late Sept. looking to do a refi for around $85000.00. Just talked with Chase, already approved with 4.875 % rate for 15 yrs.

    0 Votes
  • Sk
    Ski Hank Dec 16, 2009

    At least I know I'm not a complete idiot when I read that others had similar experiences with Amerisave! Ten months ago I wanted to refinance and chose Amerisave because of slick online ads promising the lowest price and transparent closing costs with no surprises. After seeing all my documentation, my "loan officer" Mark assured me (verbally but not in writing!)my loan would be approved, since I had a good income and FICO scores well over 700. I was pressured to "lock in" their fantastic rate by paying their application fee of $425.00. I paid the amount on a credit card, and then interestingly heard nothing further from my "loan officer" for weeks. After repeated e-mails and voicemail messages to him, I finally reached him by phone only to learn that there was a "problem" and that he would have a hard time qualifying me for a loan after all. I contacted Mark's supervisor Robert to ask for a refund of my application fee, because Amerisave had first promised approval, then ignored me, then rejected my application. Robert actually implied in an e-mail that I was somehow at fault for misleading them!! (How this would even be possible when before promising approval they had copies of my tax returns, income statements, bank statements, and credit reports he didn't explain.) I'm a military officer and considered filing a VA complaint, but instead just went to my original lender who refinanced at a comparable interest rate and with a lower closing cost than Amerisave's supposedly unbeatable rates. Is Amerisave still in business? Part of me hopes their staff--well, at least their managers--are now waiting their turn in the unemployment lines. Hank

    0 Votes
  • Ga
    GAPeachloanofficer Dec 31, 2009

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

    0 Votes
  • Ga
    gapeach2009 Jan 01, 2010

    If you only new about the owner of Amerisave, Patrick Markert, you may think twice about doing business with amerisave mortgage.

    0 Votes
  • Mr
    Mr. Neutral Feb 01, 2010

    Marcus is an idiot. Any margin a company collects is established up-front and is independent of the current rate. If it's locked, it's locked. If it isn't, it isn't. Condos often pose unique issues because the viability of loans are highly dependent on residential capacity, current construction status within the complex, building liens and condition and building age along with the typical factors such as credit score, income and assets.

    While it certainly sounds like your loan officer was not equipped to handle this situation, you are obviously hiding some of the facts of your "case" that are distorting the truth.

    0 Votes
  • Rl
    Rlee Feb 14, 2010
    This comment was posted by
    a verified customer
    Verified customer

    There a lot's company out there like that do the same old tricks of bate and switch but now with the new Respa Laws they have to Honnor what they charge in Loan Discount Points. They can not make any changes no longer untill 10 days of stopping the process. The Industry is changing for the Better especially for Consumers, now Brokers have to Disclose YSP, money made in back of the laon. Lenders Like Amerisave, Bank of America, Wells etc. are considerd a Mortgage Lender, they can benefit form this because they do not have to Disclose YSP.
    Chances are if you are paying a No Point or a no Closing Loan, you will be paying it in the Rate.
    Bottom Line, look for a Good Company where Customer Services is a priority and where Rates and Closing cost are very competitive as well.
    Last thing DO NOT FLOAT YOUR RATE! Make sure you lock It right away by getting proof from Lender via email or writting, make sure its a 35 to 45 day Lock.
    I have been doing this for 10 years already and I understand what customers go through and I always make sure they are Informed from the start to finish. Loans are not easy any more, Its getting harder and harder to qualify Borrowers in this Industry.
    There are 3 Things Lender look into before doing a loan and those are: Credit( your Fico) Collateral ( Equity in Property), Capacity ( Income).
    If any nobody needs help or advise you can email me at [email protected]

    0 Votes
  • Sc
    screwed in kalama Mar 11, 2010

    Hey I have an idea lets start a class action suit and put them out of business!

    0 Votes
  • Ro
    Robnsc Apr 09, 2010

    The exact same thing happened to me in Southern California! I will be posting a complete account of the scam that they are running on this web site. In the meantime, please report them via a complaint procedure at: http://www.georgia.gov/00/channel_title/0, 2094, 5426814_39102589, 00.html. In Georgia, unlike other states (including California) who handle consumer complaints via the State Attorney General's Office, all consumer complaints (with limitations) are handled by the Governor's Office. Also, be sure to file a complaint with the Atlanta, Georgia Better Business Bureau at: http://atlanta.bbb.org. Also, if you have time, Google "Amerisave.com reviews" or "Amerisave.com complaints" and start documenting your horror stories. I have found that it is best to do a "template" complaint account of your particular horror story with them on a word processor like MS Word, and then simply copy and paste your story to each "complaint web site" you find on Google. This saves time and energy. LET'S GET OUR HORROR STORIES WITH THESE BANDITS, WHO HAPPEN TO WEAR BUSINESS SUITS, AND SHUT THEM DOWN!!! Let's not let them continue scamming the average "Joe/Joan" who just simply wants to lower their mortgage rate/payment or purchase their dream home. This unscrupulous gang SHOULD NOT be doing business in the good old US of A!

    By: A victim of Amerisave.com in sunny Southern California

    1 Votes
  • Su
    Susan 12 Apr 14, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Rich Vaux @ First Integrity in Irvine, ca Phone: 800.519.6558 x114 was the best person to deal with on my loan. Knows his stuff and has great communication. He even gave me his personal cell # so I could reach him anytime...

    They are also rated with the BBB and have a perfect rating, I now know why.
    http://www.la.bbb.org/Business-Report/First-Integrity-Inc-100062006

    Rich Vaux @ First Integrity
    Irvine, ca Phone: 800.519.6558 x114
    www.firstintegrity.us

    0 Votes
  • Su
    Susan 12 Apr 14, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Every place I have applied for a loan has done the bait and switch on rates. There is only one exception, that was First Integrity Lending in Irvine California. Rich is the gentleman who helped us get out loan. He’s the only person who told me the truth that until your ready to lock an interest rate “Rates don’t matter until you are prepared to lock”. I was thrown off at first, but as he said you can shop all day long and have 20 different quotes. But until you lock, you don’t have any idea what rate you will get because rates are changing all day long.

    First Integrity also has an A+ rating with the BBB with zero complaints. It’s because of honest strait shooters like Rich that they have a perfect rating with the BBB.

    If the truth and a fair deal are what you seek, don’t waste your time shopping, go to Rich.

    Rich
    First Integrity
    Phone: 800.519.6558 x114
    http://www.firstintegrity.us

    0 Votes
  • Lo
    logical thinking May 05, 2010

    Another uneducated comment. If the property was not within guideline (FNMA, FREDDIE) that has nothing to do with the lender, and your loan to value would not be 78% after including tax, insurance, and closing costs. It would have easily been 81-82% based on the small loan amount. I tell ya sheesh the appraisal fee goes to a neutral THIRD PARTY APPRAISER ...no APPRAISER works for Amerisave not a single one. Another person who does not qualify, and points the finger at the lender...well point one finger four are pointing right back at you!!

    0 Votes
  • Lo
    logical thinking May 05, 2010

    ROBNSC is a total knucklehead...let's get a witch hunt going is basically what you are saying, and remember how stupid and uneducated the claims were about the people they burned at the stake in the name of Christianity...same thing here...uneducated comments...no understanding of the current market conditons (home values, credit crunch, etc.) Amerisave has funded close to $10 billion...again people who do not qualify pointing the finger...also there rating with the BBB is an A??? Uh yeah try again

    0 Votes
  • Lo
    logical thinking May 05, 2010

    Funny the comment up there that talks about yield spread premium(YSP)...Amerisave's website shows every rate from loan discount to par to yield spread...how do you think someone gets a "no cost loan" that is YSP. Funny how he jumps on saying bait and switch..then gives his email address to his mortgage company...trying to slander Amerisave to gain biz...NICE~

    0 Votes
  • Lo
    logical thinking May 05, 2010

    Patrick Markert is a reputable person, and businessman. Almost everyone of these complaints are persons who have no idea what they are talking about, and do not qualify based on their own comments...It amazes me how people do not know hardly anything about the current mortgage environment, but yet they jump on these blogs and spew pure crap...typical knucklehead borrowers who were so easily decieved by mortgage lenders handing out subprime loans (meaning they were told yes everytime in the past, because the guidelines were non-existent) and the a lender like Amerisave who never did subprime or negative amortization gets raked through the coals for upholding and following the guidelines

    0 Votes
  • Ob
    objective Jun 06, 2010

    I wonder if logic thinking is working for AmeriSav or the ower's close friend as I don't see any logic with his comments.

    0 Votes
  • Ri
    richie0 Jul 22, 2010

    I have been doing business with Amerisave for the last ten years. I have refinanced with them seven times; I have never experienced the problems that some of you experienced. I shopped around and their rates and rebates were very competitive. Amerisave did not really rip off the upfront appraisal fees because the fees were for the appraisers. The $35 credit report fee probably does not pay the hassle of processing a loan application.

    Every loan application must submit to Fannie or Freddie for pre-approval and then official approval. After the housing debacle, Fannie and Freddie raised the bar so high that many solid people’s loan applications were denied. That’s one reason that the rate is so low but hardly anyone can enjoy the ride. Amerisave does not make a dime unless a loan is approved. It’s Fannie or Freddie decides the fate of a loan application but Amerisave takes the blame.

    Like some of you, my last loan application in early July was denied because Fannie would not count my IRA withdrawal as a source of income. Therefore, my AGI was adjusted down from $160, 000 to $120, 000. The imbecilic underwriter only recognized W-2s as incomes. Pension and IRA withdrawals must be done through fixed annuities. They want me to completely pay off a 2.49% home equity line from Chase to qualify for a $417, 000 15-year fixed mortgage. I have $2 million liquid assets but they would not count because they say I could lose every dime on my investement or take the money and run and leave my $1m house to Fannie. In the eyes of underwriters, every loan applicant is an unscrupulou sperson. I guess they feel if Nicholas Cage can default a loan, a little guy like me could do the same..

    Of course, I lost money in the prepaid appraisal fee of $450, but I did not blame Amerisave.

    0 Votes
  • Co
    complaintalso Aug 05, 2010
    This comment was posted by
    a verified customer
    Verified customer

    The real name of Amerisave should be Ameriscam. They adverise a 3.25% mortgage rate for a 15 Yr term that does not exist. Check it out, go on line, call them. You will not get an explanation, even from their National sales manager (Marisa Davis).

    0 Votes
  • Ra
    randomwalk Aug 25, 2010

    Richieo you are trying to justify that Amerisave's operation is in line with a legit mortgage company. But you are giving too much detail which makes your evidences sound suspicious:

    (a) If your house valued about $1m and you were borrowing only $417K, that was a loan-to-value of only 40%. I can hardly imagine that there is one lender would turn down such an application. Even if you "take the money and run" and leave your house to Fannie, Fannie would not lose money on your loan, i don't think...

    (b) If you have $2m liquid assets but Amerisave could not count them in because they believed you could lose every dime on your investment or "take the money and run, " well then there will NEVER be an applicant who will have liquidity to meet that measure. Didn't that excuse appear to be nonsense to you?

    However, there is one thing I may agree with you, Richieo, which is that mortgage specialists make money only when a loan is made, from which they will earn on average about $5K or plus per loan, depending on the size of the loan. That said, screwing people for $400 or so per transaction doesn't seem productive, from a mortgage specialist point of view. Assuming Amerisave is a legit mortgage company (without evidence to prove it is not), I speculate that reps at Amerisave are paid on commissions based on number of applications they can get. If this is how the system is designed then there are inevitably reps taking advantage of the system, screwing other people's wallets and ruining the company's reputation and prosperity. One thing I have yet to figure out the logic is that managers like Robert should have more interest in the company's prosperity than in their employees' commissions. Why did he not try to ensure customer satisfaction (after all, the mortgage business falls right in the customer service category) but instead defend his employee?

    Anyway, I am glad that I found this blog before I decide to hire Amerisave for refinancing. For those who have suffered by dealing with Amerisave, you have my sincere sympathy. Thank you for sharing your experience.

    Btw, Logical Thinking appears to be affiliated with Amerisave in the way he/she defended the company. Unfortunately the more you say, Logical Thinking, the worse image Amerisave is going to get. Because you sounded like undereducated yourself, and people are more concerned that if Amerisave hires folks like you as reps. Please don't become more an enemy to the company.

    0 Votes
  • Am
    AmerisaveGuy Aug 30, 2010

    richeo. Thank you for not blaming us and understanding the trials we are facing as a direct lender. My name is Don Nyal and I am a loan consultant with Amerisave. Extension 6043 if you have any add'l questions or a loan scenario before applying. I am an outside rep. Amerisave has many inside reps at their main office that handle a lot of loans due to our low rates. As an outside rep i mainly do purchase loans through realtors and they love how i work and navigate each customer through. Also have fewer Loans and more communication with my Clients. Here's a few suggestions to people looking to apply but have questions.

    1.) The $35 preapproval/credit report fee is credited back at closing. So we are not scamming anyone. If anything we are weeding out false applicants that are not ready, serious or probably have reasons that they would not be approved.

    2) The lock REQUEST. That's exactly what it is a request. Until we have the application, credit, needed income documents nothing can be locked. No lender will lock you just because you completed an application ( they need all of this too). Now because of the volatile housing market many loans will not be locked due to value problems in many markets. So we need an appraisal before we can lock on most loans unless there is clearly a lot of equity an exception can be made. YES we do have a $500 lock-in fee and i tell all my l clients that if they cancel for whatever reason they will be charged once locked. However if the loan is declined it will not be charged.

    So how do i get the rate i want now? Well you cannot lock just based on the application so here is what i tell all my clients BEFORE they go online ( I recommend talking to a consultant first before jumping online):

    Have the following list of documents in when applying online:

    1) W2's- Most current years. So right now 2008 and 2009 ( If selfemployed or receive other income other than W2 income to qualify we will need your last 2 year tax returns n addition to any 1099 or w2 forms)

    2)PAYSTUBS- i month most current and in order ( Last 2 if bi-weely pay, Last 4 if weekly pay)

    3) BANK STATEMENTS - Both saving and checking ALL PAGES for the last 2 months

    3) LIQUID ASSEST STATEMENTS- ( IRA, 401k, CD, money market etc. Most current Quarterly Statement if not monthly) AGAIN ALL PAGES

    4) CURRENT MORTGAGE STATEMENTS(S) on current and any other properties owned ( If you own rentals have your rental/lease agreements for all )

    5) PROPERTY TAX BILL(S) - Current statements on current and all other properties owned

    6) HOMEOWNERS FIRE INSURANCE DECLARATION PAGE- for current and all other properties owned

    7) DIVORCE DECREE - May be needed if divorced or may not but good to have available if requested

    If you have all these before going online the application will be more complete. You will have all documents ready to fax and i suggest paying the $35 and appraisal or your application will not be a priority. The $35 will not be refunded if you do not close so i'll admit you will be out of that but for the appraisal we charge your card but if you cancel the appraisal appointment no charge incurred and your credit card is credited back the appraisal amount.

    I will say if you have all documents ready to fax, complete the application as accurately as possible and follow all steps including, the $35 prapproval, order appraisal and choose your rate you would like to be locked at. Then you will have an easier time in processing and closing. I usually can have a loan locked right when the appraisal is back. About 48-72 hours. But if you have a very solid loan, 35% or more in equity, good debt to income ratios, liquid assets, High fico ( Remember when it was 700. A lot has changed), then i can usually have a lock exception request to my manager and lock in 24 hours. I personally like to talk to my clients and figure out one if a loan is right for them and two if i see any potential issues to resolve before applying.

    Hope that helps. Every company out there, even the big banks, have complaints and it is tougher these days for home finance but doing your homework first and being prepared will make it easier.

    0 Votes
  • Jo
    John Kelly51 Sep 28, 2010

    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, 2010 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.

    0 Votes
  • Wa
    waitedforever Nov 18, 2010

    You can not blame Amerisave if you are not approved for a loan, but you sure can blame them for poor buisness practices. Banks and brokers are a dime a dozen but when dealing with Amerisave, they sure acted like they were doing me a favor. They do not return calls or respond to emails. They really are a piss poor company to try to deal with. And this is coming from someone who has an 810 credit score with no debt.

    0 Votes
  • Sa
    samnat May 07, 2012

    Amerisave is involved in fraudulent practices. My credit score is 780 and they denied my application after appraisal. Better Business Buereau or consumer protection agency - please help. This company should not get away with this.

    0 Votes
  • Ma
    maverick71859 Oct 08, 2015
    This comment was posted by
    a verified customer
    Verified customer

    I am as of the moment "locked" with a rate from them, Here's the kicker. They charge me 425.00 for an appraisal. I receive an email giving me different dates to have them come, I choose Saturday. The appraiser never calls me back or answers my emails. I call his office & the person there says she handles all his emails & that I never sent him one. Next day he calls me at work & wants to come that day, I told him no so he agrees to Saturday. He shows up, says he's been to my house before, not sure if it was with me or not. I did an appraisal 7 years before & it was at 155, 000. In the last 4 years I put in over 18, 000 work on my house. This so called appraiser reports my house at 141, 200!!! 14, 000 less than it was 7 years before. Now Amerisave says that's what counts, his word. The guy was rude & only spent 10 minutes at my house. So now they say my rate can only be approved for 80% or roughly 4, 000 less than I was locked in for. They want me to chose a new plan with higher lender fees. So now I don't know what to do, don't want to go around spend appraisal fees everywhere.

    0 Votes

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    Unhappy consumers gather online at Complaintsboard.com and have already logged thousands of complaints
    If you see dozens of complaints about a certain company on ComplaintsBoard, walk away.
    One of the largest consumer sites online. Posting here your concerns means good exposure for your issues
    A consumer site aimed at exposing unethical companies and business practices
    ComplaintsBoard is a good source for product and company gripes from especially dissatisfied people
    You'll definitely get some directions on how customer service can best solve your problem