Product: Mortgage

Last XXXX, I decided to refinance my investment property. I searched online for the top ranked lenders and I decided to go with Amerisave due to how well they placed. Their web site made it easy to choose the right type of loan I wanted. After I submitted my inquiry on the XXXX of XXXX, I spoke to a loan originator by the name of XXXX XXXX. XXXX walked me through the inital process, but when we got to the point of having to pay a {$500.00} application fee to continue the process, I told XXXX I would need some time to think it over and discuss with my family. 

My next communication with Amerisave was on the XXXX of XXXX. XXXX was unavailable, so my new loan originator was now XXXX XXXX. For some reason, XXXX couldn't get the original loan that was setup by XXXX to work, so we had to start the inital process all over. As was with XXXX, XXXX walked me through the beginning process. XXXX told me that in order to lock down my interest rate and points, I would need to pay the {$500.00} application fee. I wanted to lock down my rate so I provided payment over the phone. XXXX meticulously went over the inital disclosures, explaining what every page meant in the disclosure. I asked XXXX why on the disclosure, it showed the rate lock indicator as " No ''. I was given the impression that it would be locked now that I paid the {$500.00} fee. XXXX 's explantion was that it was going to be a floating rate meaning if the rates go down they will automatically lower my rate at no additional cost and if the rates go up, they would apply a discount to keep them exactly where they are as of signing. After talking with XXXX and reviewing the documents, the initial disclosures were signed and submitted by my wife and I on XX/XX/2020. Note, the inital diclosure was 3 % interest rate, {$300.00} for points, and an estimated closing cost of {$5900.00}. 

After the submission, I would visit the Amerisave website every now and then to see what tasks were still outstanding. I would also receive automated email messages from XXXX indicating whenever there was a task that needed my attention. During the last 2 days of XXXX, I received a total 16 emails from XXXX that were mostly auto-generated. 

In XXXX, I received 18 emails from XXXX, again mostly automated. It was around the XXXX of XXXX that I noticed there were new disclosures to be signed on the website. I thought this was strange due to the fact my wife and I submitted them back in XXXX. I began going through the new disclosure and noticed the points increased from .089 % ( {$300.00} ) to .314 % ( {$1000.00} ). The interest rate remained the same, but the estimated cash to close was now {$12000.00} compared to the original of {$5900.00}. When I first spoke to XXXX about this, he insisted I sign the new disclosure. He said there was an issue during the initial submission of documents back on the XXXX of XXXX. He said most likely my wife or I didn't completely sign the documents or never submitted them correctly. Again, I thought this was strange, because it's very difficult to miss something during the e-signing process. Luckily I had a copy of the original documents and in it there was an audit trail indicating when the documents were signed and delivered. I sent this information to XXXX via email on the XXXX of XXXX. We later spoke on the phone and XXXX now told me not to sign the new documents and to just ignore the new disclosures that were on the website. 

It's also worth mentioning I tried contacting XXXX multiple times by phone. In XXXX, I contacted XXXX 6 times and 5 of those went directly to voicemail. It was only because of XXXX 's voice mail recording that I knew he was going to be out of the office for a week or so. I did get a chance to speak to XXXX 's supervisor, XXXX XXXX. XXXX assured me that everything was looking good and that we would begin the closing process in less than 2 weeks. This was on the XXXX of XXXX. 

For the month of XXXX, I only received 1 email and 1 phone call from XXXX and 2 emails and 2 phone calls from the loan processor, XXXX XXXX. One of the emails from XXXX indicated the review of our file was completed, but there were still other requirements needed for final approval considerdation. At this point, I was starting to feel better because I thought things were now moving again, but I was wrong. 

Fast forward to XXXX. I contacted XXXX a total of 7 times and all 7 went directly to voicemail. On the XXXX of XXXX, I visited the website because I hadn't heard from XXXX or XXXX in some time. To my surprise, the loan now showed a status of " Declined ''. I immediately sent an email to XXXX and XXXX asking them to call me as soon as possible. XXXX 's explanation of why it was declined was due to my Debt to Income Ratio being so high. He said it was around 80 % and that my income showed a $ XXXX per month. XXXX did a little digging and realized that they didn't include my income, only my wife 's. Note, at this point in time, I already uploaded my W2 and multiple paystubs. XXXX then asked me to provide a copy of my offer letter from my current employer. This was because I switched from XXXX to full time back in XXXX. Eventually, XXXX was able to re-open the loan. 

On the XXXX of XXXX, XXXX notified me via email that the closing disclosure was now available. However, when I opened the disclosure, it was showing the updated amounts from the XXXX disclosure, not the original from XXXX. I contacted XXXX and he said he would reach to his supervisor on getting things straightened out. He assured me that they could apply some sort of credit to offset the new amounts. That conversation was on XX/XX/XXXX. I asked XXXX if he received my email with the initial disclosure attached. He claimed he never got it. By the way, this isn't the only time XXXX said he didn't receive my email. I talked to XXXX again on the XXXX, and provided him with the actual percentages and amounts from the initial disclosure. 

I also want to mention that I reached out to XXXX XXXX 's manager, XXXX, twice in XXXX to voice my concerns, but again, no one picked up or returned my call. 

Now it's XXXX. I finally got a hold of XXXX on the XXXX. XXXX said he will bring the discrepancy issue up with XXXX and that XXXX will be getting in contact with me by end of day. XXXX also wanted to be frank with me and told me that the delays I've been facing are due to the rates not being in favor of their company and that with today 's rates it would cost them ( Amerisave ) approximately {$20000.00} to close my loan. By the way, XXXX 's supervisor, XXXX XXXX, never got a hold of me. 

I want to reiterate that the service with Amerisave has been deplorable. Everyone at Amerisave that's been involved with this process should be ashamed of how unprofessional and unethical they've been. There's been very little communication and with what communication they did provide, it only gave the customer false hope that things were progressing, when in fact they haven't. Amerisave is only in it for themselves.