I started the process of refinancing my one property in mid August and submitted all documents within TWO days of the request. I immediately paid a very expensive appraisal fee for the house and the credit report (total of 566.50) so that the process can be completed and approved. I have a credit score of over 790, net income of over 200,000, real estate income
at net 50K a year, over 20 years of work experience, and no debt! The loan was for only 199K! This is a no brainer. However, there was no response from AmeriSave for a very long time and I have a record of emails where I kept writing to the loan officer asking for information and pushing. Again, nothing.
I never received any response from the loan officer until I demanded a response.
Finally, I receive an email stating that yet again, I had to supply some erroneous documents for approval. I realized that I had already supplied the SAME document previously and they just overlooked it. On the day of settlement, no one shows up. I get an email stating that the title company sent the documents to the WRONG FILE! I waited for HOURS to get this process completed and settled. Next, I get an email from AmeriSave stating that the previously submitted POA in early September was not legitimate even though I submitted these documents to them MONTHS ago and followed by their exact instructions! I
didn't even receive a correct HUD on settlement. They actually didnt provide the settlement attorney name, no HUD form, and the wrong policy number! To make it worse, when I asked questions, I received nasty responses from the loan
officer yelling at me through email! This is their delay tactic and I believe that this violates the Truth in Lending Act and state consumer protection statutes. Amerisave engaged in unfair and deceptive practices in the selling of this residential mortgage. Amerisave promises customers they can quickly obtain a lock-in of a low interest rate, and requires the customer to pay upfront fees in order to obtain it. These deceptive practices should be punished and this company should close down before any additional customers are hurt.
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