Well, I know the complaints I hear from most of the folks about Amerisave is because of a particular loan officer. That is usually where the problem is, imcompetent loan officers. The company has an amazing system they use to lock in the best rates in the business. However, if you happen to get an LO that does not know what they are doing, then you are in trouble fast. I know the company hires them, and that definately falls on them, but the company has over 1500 LOs, so you might get someone that does not understand especially if they are familiar with another state and not yours.
The right thing for them to do if they do not understand your particular states requirements is to pass you on to an LO that does. But that does not happen very often. I am thinking about going to work for this company and certainly would not want to do that if these types of complaints are real high on the list, but out of thousands of of loans per month a very small amount does not close, like less than 1%. So, overall, Amerisave is still a good company minus the few bad deals people have gone through and I empathize with each one of them...I really do. The company I came from...if a person had spent $400 up front, was promised a loan, and then in the end did not get one, then the company would pay them back the $400...Amerisave is suppose to have a guarantee and they should have.
The game that is played sometimes by individual loan officers is they float a loan trying to catch an upswing in the market so they can actually make more money on the loan while you get your rate. I never liked playing games like that. If I can lock in the rate that makes you happy, makes a profit for me and the company, then lock that rate in and do not gamble with someone's mortgage.
The advice not to pay the mortgage was outrageous. You only time you do that is when the loan is about to close and you know it is about to close. Otherwise always make the payment, especially if it is the 15th of the month and the loan still has not closed...you have until the 15th to get it in before it is counted as late. Due on the 1st, but not late until after the 15th.
That is all I have...the bad taste in peoples mouths over Amerisave is unfortunate.