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Amerisave.com / Scam and cheating

1 United States Review updated:
Contact information:
Phone: 404-324-4953

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!!!

Va
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Comments

  • Ni
      29th of Nov, 2008
    0 Votes

    how about someone has place lude photos on this amersave employment site. Embarrassing to say the least and when I tried to get past those phots the site did not work. Revenge I guess?

  • Sa
      20th of Mar, 2009
    0 Votes

    This Marcel has come up before. I have seen complaints on him or her before. I think the issue is the loan officer not the company.

    Call the Better Business Bureau and file the complaint on Marcel wtih Amerisave and see if that gets you anywhere. Usually when the BBB contacts the company enough about the same LO that LO will be gone quickly and sounds like Marcel needs to find a different job.

  • Ju
      2nd of Apr, 2009
    0 Votes

    hey thanks for making people aware, I was ready to give my social security # and the $35 for the credit report... but I just quit, but they may have gather all the info I put in the form...

    don't want no stress from dishonest people.

    thx,
    J

  • Ma
      14th of Apr, 2009
    0 Votes

    Never pay for a credit report. A legitiamate loan company does not charge for that. Also, every mortgage or refi I EVER got - which has been many, the company will be paid when the loan goes through - not up front. NEVER give money up front because then they are no longer motivated and basically you are on your own.

  • Sa
      4th of May, 2009
    0 Votes

    I did actually just finished a refinance through Amerisave. Patrick Newbold was assigned to me and was not very good at all. The second person assigned was very professional and was able to get my loan back on track. It closed before the 30-day period with no extra fees. The rate was good, and I think the credit report charge is to see if you even qualify. You have to get all of your information to then quickly, and it is a bit stressful. There is no one there to hold your hand, so you have to ask questions via e-mail or by phone. Basically, you need to check in often to see the status. My sister did a refinance at the exact same time, and her loan processor was great. With any service, it jut depends on who is helping you. If you can find the same rate and fees in your home town, I would suggest you get your loan locally.

  • De
      24th of May, 2009
    0 Votes

    I agree with the above complaints about Amerisave. I completed the on-line application and paid the $35 processing fee and received e-mails from a Paul Fitz-Gibbon saying my app was being processed. I never heard from him after that -( even though their ad says "same day pre-approval')... I called several times and each time I talked to him he said he sent it in and I would hear back from him the next day... still nothing. I couldn't wait because I needed to make an offer on a home, so I called Wells Fargo upon my realtor's recommendation and was pre-approved within the hour! It still makes me nervous that he has all my info on the app. I may also contact the BBB or another agency just to make sure this person is legitimate. I wanted to get this info out there to let people know not to waste their time and money on this mortgage processor and/or this company...

  • Mi
      8th of Jul, 2009
    0 Votes

    We very disapointed with AmeriSave services and bad experiences. I completed the on-line application on May 24. 2009 and paid the $30 for Credit Report and $575 for Appraisal. The intend interest rate that we applying for is 4.5% 20 years fix for the loan 0f $417, 000 stated clearly on the loan application The loan process was taken too long, since May approximately over 30 days, and until now it is still not locked. When I called and talk to Mark Hooper loan advisor he stated I have Float Rate and now the interest rate it up if I want to have 4.5 interest rate I have to pay more for the closing cost. We know this mortgage processor and this company cheating customer and waste our time and money. The communication between the loan advisor and loan processor has always been unclear. The appraisal was done poorly.

    We are not recomment your loan agent to any of my friends.

  • Th
      6th of Aug, 2009
    0 Votes

    This review was actually brought to my attention form a client of mine that is actually closing today. He found it after going online to post a comment on the level of service that I truly provide to all of my clients. I truly understand her frustration, but her review is just not factual. I am going to do my best to clear this up with using any personal info. The client originally wanted to combine two mortgages they had on the property. The total of those two mortgages were greater than $417, 000. That meant she only qualified for a jumbo loan. She did not like the rate available to her on that program. I then gave her the option to not combine the two, but to just refinance one of her mortgages. She liked that rate and cost on this program. I told her at that time that since we would need to subordinate her second mortgage. I contacted the current lien hold of her second mortgage, which in turn told me that they would need at least 120 day to approve the subordination. Amerisave cannot control other mortgage companies’ processes. I told the client since this is going to take so long we cannot lock your rate until this is approved. To make sure the client was aware that her rate would not be locked until this was complete; I had her write and sign a letter stating this. They decided to move forward. I worked extremely hard to get the other company to process our request fast than they said they could and it was completed in 45 days! The bad news is rate had gone up. She did not accept the new terms and declined to move forward. There was no one cheated.

  • Am
      19th of Aug, 2009
    0 Votes

    AMERISAVE SUCKS THEY TAKE YOUR MONEY FOR WHAT SHOULD BE A FREE CREDIT REPORT INQUIRY THEN THEY LET YOU DOWN BY SAYING YOU CAN'T HAVE A LOAN F THOSE LOUSY SCREWS

  • Bo
      25th of Aug, 2009
    0 Votes

    AMerisave pretends to lock in your rate, then when rates go up, they tell you to lock now before they go up more. They advertise low rates to bait you, then once they got you, switch to a higher rate. STAY AWAY!

  • Di
      7th of Oct, 2009
    0 Votes

    I was a loan officer for Amerisave Mortgage Corp. When I was first accepted I was required to pay an upfront fee ($375.00) to access the software in order to submit a loan request. A couple of months later they changed their software sccess fee to $0.00. I requested a refund of my fee and was told that when I had closed 3 loans the fee would be deposited into my lead purchasing account. Go figure...I had to pay for my leads! I initially deposited $500.00 in this account. Once leads started to come in I called ASAP and to my surprize these "leads" had also been sold to many other originators and the potential client had been bombarded with calls from other lenders. Needless to say my application rate was very, very low. I contacted approximately 90-100 of these leads and not one filled out an online application. When I did finally get a customer, on my own not with purchased leads, Amerisave would not qualify them for the loan. Again, go figure...Credit Score 670, 22+ years 0x30 days late on a mortgage and never late on a consumer credit item. To sum this up I submitted 4 loans, which I hustled for myself and not from purchased leads. Not one of my apps submitted qualified for a loan. They still have $125.00 of my monies in this lead purchase account and I am waiting to see if they refund my monies to me. If not, maybe a Civil Suit will be required because I'm sure there are many ex-Amerisave officers that have funds on deposit with Amerisave that have not been refunded. To answer some of the above complaints it became apparent to me early on that Amerisave was an A+ lender only! If you don't have at least a 700+ credit score, 45% or so debt-to-income ratio and only need to finance 90% loan-to -value don't waste your time with them!

  • Bi
      15th of Oct, 2009
    0 Votes

    Another scan with Amerisave is with HELOC subordination. On internet they will take ur. applictaion and give u a rate and charge 35 dollars for credit report and 350 for appraisal, but they actualy never lock ur. rate till your HELOC subordination is complete which can take upto 30 days... so basically u are in the process as bait waiting to be eaten up when rates go up within 30 days.. It happend to me. Only when rates went up the processor told me my rate is not locked because of HELOC subordination and he assumed that HELO subordination takes more than 30 days so why lock rates...

    This is a scam company that lures people with nice rates and then does not deliver the promise. They should clearly say that in cane of HELOC subordination the rate will not be locked till subordination is complete.They know about HELOC very well so why hide this...cheats !!!

  • Ro
      4th of Dec, 2009
    +1 Votes

    My wife and I are experiencing the same type of issues. We were charged for an appraisal which came back lower than expected, but understandable with the mistakes the appraiser made. They didn't include an detached garage with electric and they miscounted the number of rooms in our home. (How can you miss a whole building?) When we contacted our Amerisave representative John Valencia he stated you have one chance to dispute the appraisal. We created a list of the differences with the appraisal and returned it to Amerisave listing the new room count the detached garage. Low an behold LSI came back with the same answer, no updates to our appraisal of either room count or detached garage.

    When we asked for a copy of the appraisal we were told by the appraiser LSI, the appraisal company out of Georgia (worthless), that we don't provide any copies of the information, even though we paid them $325 for the appraisal.

    We have now spent almost 3 weeks trying to make contact with Amerisave to get status. Luckily we are ok with the situation we are in, but this is the worst service, worst support and worst attitude I have seen ever from a service company. I recommend you use anyone else except Ameriasave and LSI if you want to be successful with your loan application.

  • Vm
      4th of Dec, 2009
    +1 Votes

    I totally agree with what is being said about Amerisave. They make the initial contact with you, get your credit card number and you never hear from them again. Oh, but your credit card company sure does. I made the mistake of giving them my cc number, and they not only charged me for the appraisal and the application fee, THEY OVERCHARGED ME BY $100!! Not to mention the fact that despite MANY attempts to speak with someone via email I received no response. Every time I called, my call was redirected and I ended up getting "cut off." Don't trust them!! Don't be a sucker like I was. Lesson learned.

  • Ch
      7th of Jan, 2010
    +1 Votes

    We are experiencing a nightmarish situation with Amerisave. Their employees will call you and answer your phone calls until you pay for the credit report, application fee and house appraisal. After that, good luck! We have not had a call received or answered - just endless emails with one new issue after another and it is weeks after the initial escrow closing date. This is a scam company and should be shut down by the Regulators.

  • Yo
      17th of Jan, 2010
    +1 Votes

    Do not recommend this company at all. I applied, paid for the appraisal and credit check, got all the paper work sent in three days, and understood I was locked-in at the rate and points at the time of application. Amerisave took over five weeks to process, telling me to be patient, and in the meantime the rates went up a half point. After five weeks Amerisave comes back and says because my appraisal was 5% less than I estimated, still under the industry standard of 80% loan to value, they rejected my application. My credit was excellent without any blemishes on my financial record, so obviously to me they did not lock-in my rate and because rates went up would not honor the original agreement with me. Luckily, I was only applying for a refinance to save some money, and even though I'm out almost $400, it could have been worst if I trusted them to obtain a new mortgage to purchase a home. To add insult to injury, when I sent a note to their customer service they did not acknowledge my complaints, just said "Thank you for your interest in Amerisave. We understand that you are not in need of our services currently. However, please keep Amerisave in mind for your next home financing transaction, because we are dedicated to your satisfaction". What a Joke!

  • Fr
      18th of Jan, 2010
    0 Votes

    This is the worst company I dealt with. I applied online and paid for the credit report. The site was going to charge me for the appraisal and I was excited because they show the lowest rate in their website. Litlle did you know that they don't care about the rate they are posting because they will hold your application for a very long time for reasons I don't know. I think this company really does not approve any loans unless they get a lot of money from you on appraisal. Since I dont have any appraisal done, they do not stand to get as much money from my transactions. I am with FHA and refinancing do not require appraisal and LTV ratio. When I told them I do not need appraisal because I am FHA, they said ok, just pay the $35 appraisal fee. When I followed up from the agent working with me, I can sense a lack of interest. The excuse is his boss in not available. I waited for 2 months after that and an email came back with a denial saying my application is incomplete. No communications from them. THEY ARE A BIG SCAM.

    I hate to say this but I will not deal with internet based finacing company anymore... ever.

  • Be
      19th of Jan, 2010
    0 Votes

    Amerisave is one of the worst mortgage company in USA, they are just a punch of scammers and they will never get you a mortgage on time and if they do it will never be the same rate they told you in the beginning, please stay a way from them, buying a house is very stressful so don't make worst by dealing with those people.

  • An
      27th of Jan, 2010
    0 Votes

    I totally agree with everybody. Amerisave is the worst bank. I have been stuck in this limbo state with them for the past 4 months regarding my mortgage. They keep dragging me back and forth. They first said I need to wait for my subordinate paper work to come in. The paper work came in now they are saying I have to wait for final approval. DON’T USE THEM. All you will get is stress. Again DON’T USE THEM!!!

  • Do
      28th of Jan, 2010
    0 Votes

    First let me tell you i am an employee of Amerisave but i am an outside rep. So i'm not in the call center in Georgia. I have closed loans from the East Coast to the West Coast . Here is an email i asked my last client to send regarding their experience with me and Amerisave.I have more coming. ITS WHO YOU WORK WITH. Hello i recently financed a mortgage for an investment property through Don Nyal with Amerisave (dnyal@amerisave.com at # 310-663-5442) The property closed in September of 2009. The rate quoted was the best I could find and the rate i was quoted was the rate I received(no bait and switch). The loan also funded as scheduled. I would give the process of obtaining the loan an above average rating. It seemed as though a massive amount documentation was required but I think you'll find that anywhere these days. Phone calls and emails were promptly returned. If I were buying another property today, I would call Don Nyal with Amerisave again. Don Thank u again, Ray Apple Valley, CA

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