Amerisave Mortgage

I have been in this deal since Monday June 22, today is the 24th, I can smell scam already!

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

Marcel Fombrun was an idiot and definitely gave you bad advise and service. You should have sued Amerisave actually I think you still can. You should have had Marcel call your existing lender -at that time- of his mistake and your lender would have made some sort of concessions. If you have email correspondence from Marcel that states he told you to stop making payments, save that email (don't print it) email it to your other emails over and over and save save save to your hard-drive.

Now, onto Amerisave.

I use to work for the horrible company Amerisave. And I won't be surprised if identities were compromised. They lost all emails full of social security numbers and bank id's etc when processing my loans. They process their loans via a 3rd 'ghetto' party processors that gives you "Attitudes!" unbelievable. THey were contractors (which is legal) but were the most ghetto'st of people like LaShaunda, Mercedes and Porsche and what ###in attitudes and hangs up on you.

Every case I brought in, went to these [censored] processors while the team leader checked off what's come in. I would always CC my team leader and would still claim they did not receive the paper work. Funny thing is, I was sending the paper work from their own servers! ###ing idiots.

If anyone knows, mortgage loan officers work off commissions and without the proper paperwork, we would never be paid. So, when my [censored] team stated I didn't send in the paper work it was like saying I didn't want to get paid, now who does that? So, I had to go above my team leader and asked his manager to log into my email to confirm what I sent.. that [censored] leader protecting his own interests stated, "there's something wrong".

After my 7th deal (in one month) I walked away and went to Bank Of America (yes, we're still alive).

Floating the loan:
Loan officers do float the loan (at the customer's request) BY LAW we have to provide that information to the customer and in return we do what the customer asks. Amerisave has a policy where you can lock in loans and if the rates drop, you can buy down to the rate which is usally a .125 xloan amount = cost to you. So this guy that just posted that loan officers "float" the loan on purpose makes no logical sense. I use to work for Amerisave, I'm an INSIDER. Horrible horrible company.

One last note: PLEASE DO NOT REFINANCE/PURCHASE WITH THESE TYPES OF LOANS: Option Arms, Negative Amortization, Power Option anything that looks too good to be true do not take it! ALWAYS ALWAYS ASK HOW MANY YEARS THE LOAN IS FIXED FOR AND REPEAT THIS TO YOUR CLOSING "LAWYERS" MAKE SURE THEY'RE LAWYERS.

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.

I spoke to an Amerisave representative regarding regarding refinancing my mortgage. When they couldn’t beat my current rate, I asked them not to call me again. Instead, they call me 3 to 5 times a day starting at 8am and ending around 8:15pm. When I block one number they call me from another. This is harassment in its purest form

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!

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.

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.

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!

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.

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.

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.

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.

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.