I have been in the mortgage industry for a number of years and a very good friend of mine has actually worked for Amerisave. So here is the low down
Amerisave actually has very competitive rate, unfortunately it almost takes an act of God to get them. There is a lag of several hours to several days between when someone asks to lock a rate and when Amerisave actually executes the rate lock. Somthing always happens when customers try to lock in and the rate "available" always seems to be higher.
Most companies will require some sort of commitment to lock in the rate for a consumer which is fair. However, most of them will not charge your card if you are not approved for the loan, Amerisave seems to charge the card immediately. Althought they do say it is only to cover "3rd party fees". If you complain enough you will sometimes get it back but if the appraisal has been ordered your screwed.
Customer service is almost non existant. Go to the web site and look for a customer service number - THERE ISN'T ONE. The only number listed puts you in touch with a random agent. So if you start a loan and have problems, IE your loan officer isn't helping you, you are just about screwed.
Finally their processing is so slow that many customers have to extend their rate locks and of course they are paying for it.
There are just too many good lenders out there for anyone to want to gamble on getting a loan with Amerisave. If you don't believe me or the other people at this site - roll the dice. Hey there is plenty of space up here can always come a bitch about it afterwards...
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