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Amerisave.comScam and cheating

Amerisave seemed to be our lifesaver. Having bought my house alone in 2005 with an adjustable rate mortgage, little did I know how devastating that would become. My finance and I found Amerisave and yes we qualified for a FHA fixed rate mortgage. All our debts would be rolled ino the mortgage and we would close soon. My finance has 0 credit so we went scrambling to add him to my utilities bills. Everything was all set.

I gave Marcel Fombrun my cc for the $395 which would NOT be charged and the next step was for the appraiser. I haven't heard from Marcel for 3-4 days now. He doesn't answer phone, return any calls or emails. I called the main number and got another loan advisor who couldn't explain this. As we talked more she finally said if no return call or emails that usually means no loan.

I couldn't believe what I was hearing. I asked how can that be when we got loan papers and have already been approved. Not so, they tell you that. I have been trying to get a hold of some higher up but guess what? No other phone numbers or emails.

This is totally devastating to me, to lead us on like that is horrible. I can't tell you how much stress this put on me after I was told these facts. Of course she couldn't help because I all ready had a loan advisor. My suggestion to any one considering Amerisave DON'T!!! You'll not only get high blood pressure but you won't get the loan.

I think they are fraudulent and advertisement is false. My cc better not be charged!!!

Responses

  • Ha
    Happy in Missouri Jun 21, 2013

    I applied for a loan from Amerisave online and gave them my cc number for credit report $8.60 (excellent credit) and scheduled appraisal for next day for which I would be charged $400. The appraisal came back for $5, 000 less than what we thought, but we were told it was also based on the amounts of what other properties in the area had sold. A little disappointed, but no big deal. After the appraisal, they locked in our interest rate 2.625 as quoted. They were a few more glitches to which I only had to send them a signed letter of explanation. I am retired, get a pension, not big bucks. Yes, there was a lot of paperwork that was uploaded, but I found their website very user friendly. I closed exactly three weeks after I started the process at the promised interest rate. I checked my emails daily and there was usually at least one if not two or three explaining what was going on and what I needed to do to keep the process on track. I received phone calls almost on a daily basis during the "underwriting" process. Things worked out just fine and their website is very helpful. About the only thing I can suggest is to keep checking back daily or several times daily. I received several emails in the evening instructing me on what was needed, so I knew they were working around the clock not just 9-5. And as far as the bigger banks go? I tried to work with my current mortgage holder at the time (Bank of America) and all I received was the run-around. I received better customer service from Amerisave along with a 2% lower interest rate. I think the problem may be that with all the recent foreclosures and bank buyouts and the economy that Amerisave is trying to make sure they're making good investments. Oh yeah, when Bank of America found out I was leaving them, all of a sudden I started receiving letters on a daily basis requesting me to refinance with them and to let them help me even if I was already working with someone else. Too late!

    0 Votes
  • Pp
    PPal1 Apr 05, 2013
    This comment was posted by
    a verified customer
    Verified customer

    Think twice before applying through them. My loan was processed, arranged for appraisal, charged $500 for that. Finally "Marcel Fombrun" from amerisave and their underwriter came back and said my loan was declined. Crap. Don't they know all the information upfront? No reasonable response. One of my worst nightmare.

    0 Votes
  • Mp
    mp1026 Jan 07, 2013
    This comment was posted by
    a verified customer
    Verified customer

    Thinking about a mortgage loan through Amerisave? Think again. While getting the loan was no big deal, that was where the good news ended. I am trying to get them to endorse an insurance check that we received after damage to our home. The work has been 100% done and inspected by their inspector. Still no checks. They have had them over 30 days and we are still waiting. What am I supposed to do? Bottom line, don't use Amerisave.

    1 Votes
  • Us
    user233 Jan 02, 2013

    This was the worst refinance experience ever for the following reasons:
    1) poor web design - documents uploaded by borrower we received by lender, but then response from lender didnt match the actual status of the loan
    2) VERY VERY VERY SLOW RESPONSE TIMES - I have a nearly perfect credit score and provided all items asked., every time that i called they gave me a different story followed by a different timeline
    3) i tried calls, then i tried emails to the lender, either way a poor response
    4) i was warned not to use them and I should have listen to the advice
    5) appeals to their upper mangement for closure wer handled inefficiently by the lender

    Do yourself a favor. read the web revies from the various sites. It may save you time and aggravation. And like other complints have stated, they will take your loan, ask you for some fees and decline it later, holding on to the fees.

    0 Votes
  • Jl
    jlpg Nov 28, 2012

    Recently I had a horrible experience with Amerisave. My application was accepted, my credit was good, my appraisal came back fine. After a few weeks I reached out and asked for time schedule. After several more email I finally got a response. After another month I follow up again! I'm not sure why i have to keep reaching out to them? Why wouldn't they just tell me. In response I received an obnoxious email that said I should have known that it would have taken over two months (while on their website they say ten days) and he told to take my business somewhere else. When I reached out to their management it took three weeks to get a response. DON'T use Amerisave.

    1 Votes
  • Ju
    Jummywin Feb 16, 2012

    We were looking for a mortgage company to refinance our primary residence when we found amerisave website. We are glad to have done some research on this company before filling out the application. Our banker quoted us 3.5 with no closing cost what so ever. We have been using him for years, thanks to the complaint board, we will be using him again. A possible lower rate is simply not worth the stress and headache.

    1 Votes
  • Wo
    Wost Service Feb 10, 2012

    RUN RUN RUN!!! Amerisave - Marcel Fombrun and Jonathan Payne worst Customer Service EVER!! Marcel never returns your calls or emails and the cost for the Mortgage significantly increased prior to the appraisal. My suggestion to any one considering Amerisave DON'T!!! You'll not only get high blood pressure but you won't get the loan.

    1 Votes
  • Dr
    Dritenour Feb 21, 2011
    This comment was posted by
    a verified customer
    Verified customer

    Do not use Amerisave! They lure you in with low rates, yet they are unprofessional and very misleading. Andrew Rochester was my original loan processor and due to his negligence I lost out on a prime opportunity to lock at a great rate with money back. I had all the timed and dated documentation to support his mistakes, yet they were unwilling to do anything, I was at a loss. Meanwhile, through this whole process rates have worsened and worsened (partly my fault for trying to wait it out). To make things worse...Darla Castillo informed me that I had until Feb 14th to lock before my appraisal expired. She felt it unnecessary to include that the loan needed to be closed before the apprasial expired! So now I am out another appraisal fee not to mention the tens of thousands of dollars I am out from Andrews screw up. My advice, do not waste your time or money with this company, it was a nightmare from the start for me and many others.

    0 Votes
  • Fr
    frustrated consumer 2000 Feb 14, 2011

    Amerisave is the WORST scam ever. Got preapproval and submitted everything they asked for. Worst part is we gave up a full underwritten loan with another company that was within a week of closing for Amerisave's "better" program. After paying the credit report and appraisal and waiting for about 1 month they came back and said we weren't approved. There underwriting department doesn't know how to do anything. The whole company is unprofessional (cryptic emails full of mispellings, etc.)

    RUN AWAY from Amerisave as fast as you can!!!

    0 Votes
  • Ja
    Jahkuma Jan 18, 2011

    Joe Garza and crew @ Amerisave displayed gross incompetence and lack of knowledge when attempting to process my loan.His boss Sr Loan Officer Marisa Davis was also in on the deal.I was approved, paid for the appraisal and credit report then the fraudulent waiting process began.They pretended not to know the FHA guidelines for mortages, however they take your money using false pretense and interest.
    This company does not care or attempt to lock you in the rate that you have chosen, Joe Garza and Marisa Davis who are loan officers at Amerisave were deliberately complecit in taking money for an apprasal and loan application with the full knowledge that they could not approve the loan.This is supposed to be their area of expertise, why is it then that they display such a void and lack of knowledge with regards to processing a simple loan?
    I would advise anyone who is in the market to STAY AWAY FROM AMERISAVE, THEY WILL SCAM YOU FOR APPRAISAL AND CREDIT REPORT FEES .Do not be fooled by their ads, its well orchestrated to trick and decieve the public.I have filed a report with BBB in an effort to raise the awareness of the public about this company.

    2 Votes
  • Kr
    krilter Jan 15, 2011

    There are more and more people who are well versed in the loan financing, and the loan customers who believe that Amerisave is an organization which on purpose misleads their clients in order to make primarily money on them on a tricky way. How? very simple!
    According to some info over the Internet, there are about 12, 000, 000 applicants for loans in each year who are attracted by the Amerisave's the lowest on the market, but very tricky, interest rates. All of their loan applicants have to pay up front $35 for their credit reports. However Amerisave pays a lump sum yearly fee for an accesses to anybody's credit rating which cost them, a few pennies/customer's credit score report from all 3 score keepers.
    Also, some ex Amerisave employees have stated, on chat rooms, that approximately only 2.3% of the applicants with Amerisave end up eventually getting loans. However, all 12 million must pay up front $35 for their respective credit reports.
    Calculation is simple:12, 000, 000 applicants X $35/per applicant= $420, 000, 000 pure gain/year!!!
    They really do not care so much about securing the loans for their customers b/c they have already made money on them via super overcharging them those credit scores.
    It is important to mention this, almost no bank or any other mortgage loan organization is charging their clients for the credit reports. They get it by paying a yearly fees which turn out to be only a few pennies/customer.
    Amerisave is obviously not like Chase, Wells Fargo and just about any other banks and the contact loan officers who are working with those banks, who care so much about their reputation and who want to stay on the financial market for ever. So they respect and protect their customers instead to make money on them using those cheap tricks as typically Amerisave does.

    1 Votes
  • Ka
    KarlaH Jan 06, 2011

    It seems to me that many of the people at Amerisave have caught on to the fact that people are writing bad things about them! I do mortgages and I can tell by reading the stuff that says anything good about them that the words they use suggest that they are writing the stuff themself. I laughed so hard when I found some of the agents are trying to turn it around and use it as a way to introduce themself to you! If you ever go to a company and get service like this, don't go back! This is a prime example of you get exactly what you pay for! The larger companies like this have some of the worest service you can ever expect! Always search for a smaller company that works in your state! That's the best way to get the job done and you will always know where to find the person if they don't call you back!

    1 Votes
  • Ei
    EIS 9 Nov 25, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Wow. Lots of complaints here, but these don't describe my experience at all. I just closed a loan with them...75% LTV, very solid credit scores, and a stable employment history. I was a little leary in the beginning...since I did need to prime the pump with some upfront $$ for a credit report and an appraisal. But this made sense to me given the current economic conditions. My guess is that Amerisave is doing an early-on hard weeding out of marginal borrowers and properties with appraisal or other challenges. It did feel like I had to provide a lot of what seemed like "extra" documentation throughout the process but I attributed this to much stricter underwriting requirements now than in the past. For my extra efforts, I ended up with the rate promised (4.125% on a 30 year) about 0.5% lower than I was able to get elsewhere, NO loan origination fees, no points, and just a couple of hundred bucks for closing costs. I'll use them again if/when I buy some investment property.

    -1 Votes
  • Me
    me too scammed Nov 11, 2010

    My message is essentially the same as most of people here “no matter how solid your case is, STAY AWAY from this company”. I thought I had a super solid case; FICO score=800, loan-to-value ratio=65%, stable job/income (> $150, 000/yr), no other debt besides mortgage, and a reasonable amount of liquid assets, 401K etc. In the end, we were conditionally approved with a condition that we would never meet, in other words, our loan was declined. It is such an easy business; even I can start this business if all I need to do is to collect some money, wait for several weeks, and email the customer that the loan was declined with a lame reason. A total scam...

    1 Votes
  • Ja
    Jahdsh Oct 22, 2010

    We paid our $35 for credit report and an appraisal was scheduled the very next day with no questions asked (condo refi). We only knew about the appraisal because we checked our e-mail that morning. That's the only way we could communicate. The appraisal was done for $300 charged to the credit card and then it was hurry up and wait. Also I had to fax the same disclosures three different times. After nearly 60 days we received an email to call them ASAP. "There is some problem with the ownership of the building". Long story - short is the appraisal never needed to be done if questions were asked about the HOA, units sold, etc, because Fannie Mae has strict lending regulations.
    Loan declined. I was also charged $60 by my current mortgage company for the two times Amerisave called for payoff amounts.

    1 Votes
  • M8
    M8693 Oct 18, 2010

    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.

    1 Votes
  • Ru
    Rudo Oct 18, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Hi I tried to refinance with Amerisave recently in Sept 2010. My mortgage officer was Christopher Workinger. He has the same attitude toward the first complaint. Never returned the phone and rarely replied emails. After completing all the paperworks and submitted $35 and $325 for appraisal, I waited for a month, before finally getting a word 'You app was denied by Underwriter'. FYI: This message was not initiated by them, instead I had to keep sending email to this guy once in a while asking for the status. They said there was something wrong with my number of 2009 return. I did my research and responded about the number. I have asked about the status via emails again since my lock will expire in Oct 24, 2010. After waiting for 10 days, he sent me an email saying my app was also denied the second time due to 'Too high debt to income ratio'. I was confused and I did my number: my DTI is still within the 29% for mortage only and less than 40% combined with tax/insurance. I asked him to send a letter to the UW to reconsider which he said 'There is not much I can do". To confirm my calculation, I have asked QuickenLoan to do the automated Underwriting to calculate my DTI (Debt to Income) ratio and it was approved.

    It seems to me Amerisave is a scam corporation. They might not be able to find investor to find the mortgage based on their promised interest, perhaps? Or perhaps they are in the business in getting $35 credit and $325 appraisal money? Who knows, but definitely one for sure: They will find ways to decline your app!

    1 Votes
  • Ji
    J_Ioimo Oct 12, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Pick your agent wisely...there are the ones that do not care! Before Amerisave we got taken as well. Once this other company got the $$$for the appraisal, we never heard from them again! I looked around and found Don Nyal([email protected]) told him of my situation and he was honest and would not set up anything with out seeing my information and getting things guaranteed up front. You need to get to know your agent and look them up. We are now closed and he just closed my mom's mess last month. My suggestion is to go with Amerisave, but get an agent you can read about, and look up!!!

    1 Votes
  • Ts
    TsgtMH Oct 08, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Be Carefull...they just want your appraisal $$

    I'm blown away by this company! I have a great credit rating, decent income and $90, 000.00 in equity. I was wanting to refinance due to very low rates. Todd ([email protected]) was happy to start and quick at first. After I paid for appraisal..Ah Ha! no replies to e-mails or calls for 2 weeks. After the week 4 I get an e-mail with the DENIDE! Todd said that my application was incomplete. No further contact with Amerisave or Todd could be made. I believe they cannot loan any money and are just taking Appraisals for their cut of the $. My suggestion is to go somewhere else where u can walk in and see them. Please be very carefull!!

    0 Votes
  • Ji
    J_Ioimo Sep 01, 2010
    This comment was posted by
    a verified customer
    Verified customer

    I used Amerisave and went with Don Nyal as i found good comments about his service even though i read all the negative complaints. Our loan did take about 2 months to close but this was due to complications with Divorce Court papers and our current lender not cooperating as they were going under. It was very frustrating. Don was upfront on everything from our first conversation and always available on his cell. The rate locked was the rate delivered with the correct fees. I originally tried to go thru our current company and it was a nightmare but working with Don even though it was a tough couple of months made all the difference. We signed last week and just closed today. Google Amerisave Don Nyal and you'll find his info. Not sure about other Amerisave loan officers but i can say Don will be honest and upfront and will not have you apply if he thinks you'll have a problem getting a loan thru them.

    0 Votes
  • Co
    coopcasa Aug 16, 2010

    I also paid the $35.00 for the credit report. When submitting the application my husband and I were informed by the web site that the medium credit score would be used to calculate our qualification score. The information that the web site provides is not accurate. The medium score that is used is the lowest of the three lines and takes the middle score. In truth, to obtain the medium score, you line up lowest to highest and pick the medium score, which for us is over 800 - providing the excellent credit required to obtain the initial discounts etc that were advertised on the main page. However, after no return calls or responses to emails, I spoke to a new agent who stated they do not use the medium score - they take the lowest reporting line (which happened to be mine - my husbands was all over 800) and use the middle score received on the report. Not much mathematics included in defining the 'medium' which was advertised on their web site. Little deceptive advertisement I would say.

    0 Votes
  • Ma
    mad in massachusetts Aug 13, 2010

    What mortgage lender makes you send them your W2 before they will quote you a rate??? NONE!!! THis company gets as much info on you as they can, sells it to "credit repair" companies when your credit rating is 800 with THREE bureaus ( why ever would we need repair???) SCAM SCAM SCAM ---STAY AWAY!!!

    0 Votes
  • De
    deearest Jul 21, 2010
    This comment was posted by
    a verified customer
    Verified customer

    I agree with most of you and had a similar experience with them. I was very clear and new my credit score and did not want to pay for the credit report and Kenneth Truss said that it wouldn't charged and cost of report would be paid at the closing and convinced me to give him the cc #. It was stupid of me to give him the info. He charged on my card and cost of loan is much higher than posted on the web site. It is bait and switch game they are still allowed to pay with people. Where the fed's and when are they going to stop this. I was under the impression that they took out the scums . There are no protections from people like these for an average person unless you belong to an elite group of people. I am so sick of these. It makes my stomach turn.

    0 Votes
  • De
    Deena D Jul 08, 2010

    Wow wish I had seen this before I refid with Marcel at amerisave. It was total bait and switch. They did lock right away but delayed and the points went up$ 1000. Marcel took days to get on the phone said the rate and fees were adjusted to what was online. Never was. Signing was delayed 3 times due to inaccurate fees showing on docs. My favorite is rates in the market went above their bate and switch rate which was 1/8 % and 1000 loan fee/ points ( i was told throughout he process he loan would be adjust to what was online) or I would have canceled the loan. So in the end I get loan docs to sign 2 days before the lock was to end and the docs show conflicts some show higher closing and my copy of the docs was on Russian!!! Was sook unprofessional. I ended up getting the loan % shown online and almost half (400) of the points back after a dozen e mails and calls to a manager threatening a law suit as I made sure marcel and the underwriter sent me things in e mail so I had proof of all of this including a screen shot when I locked my rate and the day following invade there was a delay in the lock. Save your self money and dozens of hours of e mail and phone calls and use a better mortgage co!!!

    0 Votes
  • Pu
    puangpaga Apr 20, 2010

    i just paid $35 and $350 for amerisave agent name stanley collins advisor said I should got pre-qualify easy on the phone, and send me email to apply this loan, when I start talk to him that I need $288, 000 but 5/1 arm interest only to lower my payment because my job pay half less than last year, I try to fix my problem from underwater situation, he said I should be approved, that why i paid that $350 appraisal

    my credit 742 i told Stanley my income 44, 000 from first day that I talk to him on the phone, he told me I gonna get approve, don't worries so I pay for apprasal and end up they said sale manager turn down because my income too low, I mean he can check my income and my expenses from my credit score check before he can ask me to pay another $350 I already have hard time keep this house not to foreclosure but this peoples sucks small blood that i have left, push me to do foreclosure faster

    this website is a scam, I surprise FBI didn't do anything about it, seem like anybody can cheat to all good peoples, let all cheaters get away with all crimes and nobody in this country can't do anything about it

    0 Votes
  • Ma
    Makosan Apr 14, 2010

    What a bummer company. I was prequalified and qualified to reifi. my existing ARM loan when rate were very low.
    Property is owner occupied two on one like a duplex but detached so there is an additional 1/4 point added to interest etc. No problem.
    My credit is excelent, loan to value only 50%, max, lots of cash reserve.
    Mike McCone was loan rep. As I now understand the reps work out of their own home etc.
    They came up with excuse that since my two on one is not attached they could not do loan.
    That is completly rediculous and I have never been turned down for that reason.
    Most of the residenses in my community are 2 on 1's like mine.
    I chose to use Amerisave via bankrate.com and was assured by loan rep there that these complaints on this board are not valid...
    Any bank would loan on my properety except Amerisave supposedly did not have bank that would loan?
    Total BS and now rates have gone up a half point.
    They have not heard the end of this.
    Had to be that because rate were low their baks must wanted to do loan.
    BSBSBSBSBSBSBSBSBSBS
    Stick with a regular bank in your own town.

    0 Votes
  • Je
    JeffreyC21 Apr 13, 2010

    Well Robnsc i have found them to be an excellent company and my many clients have been very satisfied with Amerisave and especially Don Nyal's service. And i was being factual. Below are links to Wells Fargo's Loan Pricing Disclosure and Rate lock policy and other complaints about big banks, who also go by FNMA/FHLMC guidelines. But they also have their own internal lock policies. You are one sitiuation and i have worked with many. So i'll take the word of my many clients who were very happy with my choice in lenders. I hope you were able to accomplish your refinance with someone else.

    https://www.wellsfargo.com/mortgage/rates/pricingdisclosure

    https://www.wellsfargo.com/mortgage/faq/ratesandfees

    http://www.consumeraffairs.com/finance/chase_mortgage.html

    Wells Fargo Mortgage — loan refinance

    Bank Of America Refinance — wont give a closing date for refinace

    I can do this all day long. So my advice is accept the fact that we are in the worst economic time for financial instutuitons and consumers since the Great Depression and obtaining a loan has long changed from just a couple of years ago.

    0 Votes
  • Ro
    Robnsc Apr 12, 2010

    What J.N. (Realtor w/C21, Apple Valley, CA) just is not factual. Amerisave underwrite’s loans using the same Fannie/Freddie Mac guidelines as most other online lenders. The problem with Amerisave is that there rate loan system borders on being fraudulent. When you apply online, your “pre-qualification” means little. Some online lenders will lock a quoted rate immediately with obligation, other than your agreement to fill out their application. What Amerisave does is MAKE IT APPEAR AS THOUGH YOUR RATE (which was the reason you were lured to them in the first place) AT THE TIME OF APPLICATION PROCESS APPROVAL, is the rate you will receive. Maybe “yes” and maybe “no.” It depends on the market. It is virtually impossible to get the very rate that you applied for, unless you happen to complete the application early in the day. Amerisave WILL NOT lock in your rate UNTIL you provide them income verification. Nowhere on their web site or the online application process is that disclosed until a loan officer sends you that information in an email, typically the nezt business day. And, guess what? Usually, the rate is different on that day. In today’s market conditions, rates have fluctuated in an upward direction. Also, Amerisave touts the fact that they lump all their “lender fees” in one category. Guess what? That is another way they can work you with additional fees (hidden fees) that they do not delineate until after they have you hooked with an appraisal fee. Make no doubt about it, Amerisave has numerous ways of adding fees to your loan.

    I applied a few weeks ago. What started out with a 4.875% rate quote and approximately $2500 in lender fees ended up with a 5.00% rate and approximately 7600 lender fees. They just kept coming up with more “issues” on why my particular loan situation merited a “specialized” underwriter (I believe that they refer to them as “investors”). My credit scores varied from 730 -780. The loan-to-value was in the mid 50’s. My net worth is around 830k.. I have guaranteed income for the rest of my life. All of this information was verified by Amerisave In other words, I am a good risk. Yet, Amerisave kept coming up with reasons to milk me of more money.

    Make no mistake. Amerisave will increase fees/rates from the rates that you applied for on the date of your initial application. There “system” is geared toward NOT granting you the lower rate that lured you to them in the first place.

    Shop and compare. Amerisave is the ONLY online lender that does not lock in the quoted rate, just by you stating that you want the rate locked in. They make you go through submission of paperwork and then, when they are satisfied that they can get more out of you, they MAY lock your rate in. The actual forms that they have you “e-sign” are actually “defaulted” to a “float-rate, ” which leaves you at the mercy of the market. NEVER, EVER agree to e-signing anything UNTIL you read everything! The fact is that they are pressuring their customers to get the “paperwork” in to lock the rate. That puts pressure on the customers and they tend to sign (including e-signing) paperwork in their haste without reading what they are signing. Again, they have their system aimed at getting the most money out of their customers. Shop around and compare and you will see that Amerisave is not the way to go…

    Regardless of the loan type and the specific loan details, J.N., a “rate lock” is a “rate lock, ” it is not dependent upon the loan type or details…

    0 Votes
  • Je
    JeffreyC21 Apr 12, 2010

    My name is Jeffrey Nyal a Realtor with Century 21 Fairway, Apple Valley, CA. I have sold over 140 foreclosures over the past 1 1/2 years. Many of those transactions i used my brother Don Nyal with Amerisave ( And i am not just writing this becasue he is my brother ).We have a high volume REO desk and it is important to me to provide my purchase clients with the best services and my REO clients with the best qualified buyers. I will say Amerisave is a "Vanilla" lender, meaning they are not a good fit for people who have credit challenges or need some kind of down assistance. So i do use a couple of other lenders but their rates and fees are much higher. My "A" clients i take to my brother with Amerisave because they have a great system designed to make the loan process easy and provide great rates and service to those who qualify. The fact of the matter is lenders/Banks are still very tight with their lending guidelines and many people WANT a loan but just will not qualify. Another fact is that the Amerisave website will provide anyone the ability to look up rates 24/7 based on many factors that can change the rate. You can put in everything from credit score to county, from the type of loan to the type of property. The rates displayed are accurate for those who are READY to lock. So what does READY TO LOCK IN mean. Well it depends on each individual's financial situation and their property or the property they wish to purchase. My advice is take the complaints posted here with a grain of salt. All companies have complaints even Century 21. For more information about Amerisave before you apply go to www.besthomeloanonline.com or call Don at [protected].

    0 Votes
  • Am
    Amerisaver Apr 11, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Be careful with Amerisave. One month ago their published rate quotes were for credit scores over 800 and now since the interest rates are going up their advertised rates are for credit scores over 830. If you have an excellent credit score of anything over 750 your rate will be significantly worse than what they advertise unless it is 830. Amerisave also does not want you to lock your rate until underwriting is complete however if you decide to lock your rate and you break the lock or something goes wrong in the underwriting process, i.e the house does not appraise as you thought it would, they will charge you an additional $500 for making the mistake of trying to get a loan through them. The Amerisave processors are out of Atlanta and your sales person could be anywhere in the USA. It makes sense to use a local mortgage professional in your area as you can report them to your local BBB office and hurt their business. The most you can do on the internet is post on a board like this and hope you help the next person from going with a company like Amerisave that uses sneaky tactics to secure your business and does not work hard to get the loan complete.

    0 Votes
  • Me
    Mechanical engineer Apr 10, 2010

    If you want to be safe, run from Amerisave.
    I saw their advertisements with low rates for a refi. Filled their application but found strange for a $35 credit report application fee (no other online companies ask for any fee). Spoke with MARCEL FOMBRUN on the phone and he gently states that we are guaranteed the online rate. Sure enough, I submit the credit card info, and I get an online quote higher than the original rate. I try to call MARCEL again more than a dozen times on his extension and all I get is voice mail. I go online to check Amerisave background and find this endless list of complaints and rip-offs.
    I guess I should be happy to have found out about this scam artists sooner than later.

    0 Votes
  • Jd
    jdunn1 Mar 28, 2010

    WHY WHY WHY, do people go to INTERNET lenders? There may be a few decent loan officers, but most are just "order takers" and don't know the lending guidelines. If they screw up on your loan, they don't care. It doesn't affect their reputation ... you are just a number to them. The people who shop me against internet lenders I ask them one question, " who's neck are you going to wrap your hands around when you get to closing and the rate and/or fees are what was quoted to you originally?". 90% of my leads come from a Realtor or past clients. If I screw it up then that Realtor won't refer any more business to me. I've been in the mortgage business for 8+ years, from Loan Officer to Management and NOT sub-prime loans (most of these guys are back selling used cars). Use a mortgage professional in your area or ask a local Realtor who they use even if you want to refinance. The #1 complaint against mortgage people is they don't return phone calls and that's the easiest part of the job. So support you local mortgage professional!!! If you would like my assistance, post it on here as I will not blast out my information.

    0 Votes
  • Ca
    Candace28 Mar 22, 2010

    I had all the same problems with Amerisave and their loan consultant Peter Huggins. From the beginning the rates quoted kept changing. When I asked about locking in I was told I couldn't until a credit report (my score 796) was rec'd and an appraisal. I gave approval for the credit report but not the appraisal.
    After shopping around I found two companies with good rates that did not require me to pay for an appraisal upfront.
    On Oct. 6, 2009 after Peter Huggins requested I sign and return the Loan documents. On Oct. 7, 2009 he sent me an email saying I was locked in. I emailed him back saying how was I locked in and at what rate and fees. On the Loan Term Agreement it clearly showed I was floating, he had completed the document on Oct. 5, 2009 and I had sign and returned it on Oct. 6 @ apprx 6:30 p.m. He did not sent me rate and fee documents so I immediately cancelled the application and appraisal that was scheduled for Oct. 8, 2009. I cancelled with the appraiser directly.
    Peter Huggins said if I didn't proceed with the loan he was going to charge me $500. I told him we had never discuss an application cancellation fee. Mr. Huggins said the $500 was for cancelling my loan lock request. As stated above I had never request a loan lock.
    Mr. Huggins sent me a document that refers to this fee and said I had signed it electronically on Oct. 6, 2009. I have never in my life siigned a document electronically.
    All other forms required me to hand sign and fax back, even approval for the $35 credit report, that's how they got my CC number. This is straight out fraud and forgery on his part. When I pointed out that the Loan Term Agreement I signed on Oct. 6 clearly showed I was floating he told me there was no such option. I was looking at the agreement then and now, the option is called II LOAN PRICING lock or float. Float is checked. Mr. Huggins prepared the form Oct. 5 I hand signed and faxed on Oct 6. 2009. This was no misunderstanding-STRAIGHT OUT FRAUD I WILL BE PURSUING/

    0 Votes
  • Sp
    sparklesssss Mar 11, 2010

    i am happy with what Amerisave did for me. I paid less for an appraisal than i would have at any other bank and they locked my loan in right away. i gave them a pay stub and w2 and was approved in a week. thanks Amerisave.

    0 Votes
  • Mr
    Mr. America Mar 11, 2010

    I usually would never take the time to even post a comment but here we go

    You peolple are so stupid or should I say uneducated. Amerisave is the best. If you are a good borrower the will give you a great loan. They won't approve crappy files, like the most of you have above. Why do you think they are still running strong when so many other companies fail? Thousands of banks and lenders have failed, why, bc they gave people like you loans when you do not deserve them. Not Amerisave. You can actually price out your own loan on there website amerisave.com. It is an amazing system.
    If you are a clean borrower, good credit, good income, and equity then you are fine. If you are underwater DON'T APPLY. If your credit is busted DON'T APPLY. If you are on unemployment DO NOT APPLY.
    Simple. If you were fiscally responsible in the past and present then you will be fine.
    I closed a loan with them and they were great. I got them what they requested and they delivered. Yes, I have good credit, yes I have equity and yes I have a Job. Wow, that was it.
    AMERISAVE IS GREAT AND I WOULD USE THEM AGAIN BUT I DONT KNOW IF I CAN GET ANY BETTER THAN MY 3.625% 15 YR FIXED. Yea I know, I got a great loan.
    Next will be my 2nd home in Florida and guess what, I am not underwater on that either. Amerisave will be doing this loan as well.

    0 Votes
  • Mr
    Mr. America Mar 11, 2010

    Amerisave is great.

    0 Votes
  • Te
    telephone abused Mar 10, 2010

    I called Amerisave after receiving voicemails repeatedly from their automated loan application department. I returned the call and spoke with a lady to see if I could have them remove my cell phone # from their calling list, I did not tell her my name, nor did she ask, she only wanted my e-mail address, cause that was the only way they could take care of it. I asked why I just couldn't give my name and number, she told me to call customer service. (after all they already had my phone#, I sure didn't want e-mails from them) I then called C.S. and Ryan answered. I explained that I wanted my # taken off and for Amerisave to stop calling me, he then asked for my # and name and I responded with you already have it, your company keeps calling me. Of course that was the wrong thing to say, he then got extremely rude and loud, he then read off my name, phone #, and e-mail address . I could not get another word in edge wise. He then told me I evidently filled out the information online, that was how Amerisave got it. I have not applied for any loan with them, he then said rudely they were affiliated with alot of other companies, he asked me if someone stole my information if I didn't give it. I would say yes, it's Amerisave and their affliliates. If I ever wanted a mortgage loan it will not be with Amerisave and their C.S. named Ryan.

    0 Votes
  • Ss
    SS81301 Mar 06, 2010

    It's a good thing I read this today and not 2 months ago. In January I started the process of a refinance with Amerisave and closed 3 weeks later. My experience Amerisave was smooth, efficient and professional. Granted I have very good credit, decent loan-to-value and so on. Just a thought, but perhaps they are better to work with when dealing with people who actually qualify for the loans they are applying for. Don't forget why the entire world is in this financial crisis right now.

    0 Votes
  • Ss
    SS81301 Mar 06, 2010

    I just read all of the posted comments and it's a very good thing I did it today and not 2 months ago. In January I started the process with Amerisave and closed 3 weeks later. The whole process was smooth, professional and very efficient. I got a very low interest rate and closed without unreasonable fees. I do have very good credit, decent loan-to-value and so on. So perhaps this company is better to work with if you are someone who actually should have the loan you are applying for. Try not to forget the reasons for the entire world's financial crisis right now.

    0 Votes
  • Ap
    Appraiser Mar 01, 2010

    Further information, when experiencing no return calls etc, call and speak with a manager let the company know of the bad service. If no results go higher, if results are not seen file a complaint with your state banking department, & the BBB, and anyone else that will listen.

    0 Votes

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