Consumer complaint received 2022-05-03
Company: AMERIS BANCORP
State: FL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
XXXX - applied for conventional mortgage with AMERIS Bank XXXX - or there abouts had to change to an " investment '' property due to a 6mth lease back to the Sellers to make deal work for them. Interest Rate set at 3.625 % XXXX - created loan request of {>= $1,000,000} for a {>= $1,000,000} 5 yr old home in XXXX XXXX, FL XXXX, rec'vd the original closing doc estimating all the terms XXXX - uploaded various XXXX and XXXX tax returns, business returns, and various bank accounts to AMERIS 's online portal. I've got pictures of all these documents in their portal. 
XXXX - rec'vd congrats on loan approval in an email, doesn't say " conditional '' at this time, FYI. 
I have many documents showing that XXXX & XXXX XXXX will use money coming from various businesses/LLC 's and/or one small amount of about $ XXXX from a LOC to come up with the approx. {$620000.00} due at closing ( includes closing costs ). AMERIS put on the original XXXX Closing Doc estimates that the XXXX ' would use business accounts/LOC to wire the {$610000.00} ( {$550000.00} at day of closing because we put down $ XXXX in earnest already - we have a document that we will attach that shows on XXXX that AMERIS put in the loan doc 's that we would use business accounts/LOC 's as part of closing, and we thought nothing of this since we had to consider this an " investment '' property ( we will use it for our residence starting XX/XX/XXXX after Seller 's complete building a home ). So - buying an investment property from funds coming from an LLC bank account that we hold $ XXXX in commercial office property is nothing we thought of as a problem. 
The Summary of this complaint is that the XXXX ' were told all the way up to closing date on XX/XX/XXXX that the loan rate would be 3.625 % fixed for 30 years. We also were asked, again, to E-doc sign the closing estimate on XX/XX/XXXX which still says 3.625 % ( we will give you copies of everything, I have documented ALL documents, and will provide you copies of ALL emails back and forth leading up to and after the first closing date that was postponed by AMERIS ( without even calling the XXXX ', we were sitting around on XX/XX/XXXX ready to go to closing ). The money was Wired into Title Company on XX/XX/XXXX - all verifiable ). 
I have copies ( I can upload or share with you on ALL these issues, all are dated and organized, easy to interpret ). 
XXXX - I have 20 emails I can show you leading up to this date, as well as after this date showing what I call " bait and switch '' by AMERIS to push me into a higher mortgage. None of these emails indicate the XXXX ' were in danger of losing this promised interest rate. AMERIS will argue that we shouldn't have used a business account to wire the funds into, I will show emails that leading up to cancelation and postponement to XX/XX/XXXX that it wasn't a problem until an email at XXXX on XX/XX/XXXX ( day of closing ) that came from our title company person, nothing and no one from AMERIS bank XXXX called us on closing date of XX/XX/XXXX to tell us closing will be postponed. 

Then, after closing date AMERIS ( XXXX XXXX, loan officer ) called and gave us some reasons why they couldn't honor the terms and the rate. AMERIS would have to go with a higher rate of 4.625 % and also only lock it for 10 years rather than the 30 years promised at 3.625 %.

I suggest to CFPB to ask AMERIS specifically the exact reasons for this change, because, during the process XXXX XXXXAMERIS changed the story and facts of why they couldn't honor the agreement.

For example, we were told on XX/XX/XXXX by email that an extension for XXXX was fine, later we were told our income in XXXX wasn't enough because of some carryforward XXXX losses and they needed XXXX. XX/XX/XXXX we were supposed to close, and on XX/XX/XXXX they determine this is a problem. 

XX/XX/XXXX closing was postponed to XX/XX/XXXX. So, on XX/XX/XXXX XXXX email XXXX XXXX my final XXXX tax returns - he gives me an email ( I have all this ) that he won't submit this to the underwriters because it will " confuse them ''. I know I'm being shammed at this point, and pushed to a higher rate- I looked up my loan documents and my rate lock expires on XX/XX/XXXX ( XXXX day after proposed closing ) so they needed to get this postponed in order for that " rate lock of 3.625 % '' would expire. 

XXXX - submitted to XXXX XXXX ( loan orginator ) IRS transcripts for XXXX and XXXX because they never heard back from IRS XXXX - rec'vd email from XXXX XXXX XXXX AMERIS ) XXXX saying she is fine with the transfer/Wire into agent, she has just one FINAL REQUEST ( needs copy of XXXX XXXX account ) XXXX - we get an email from closing agent that the closing is cancelled, no word that day from AMERIS bank XXXX - Interest rate lock expires ( I wasn't aware of this until afterwards ) XXXX - XXXX XXXX turns down my emailed copy of my XXXX tax returns, says it will " confuse '' his underwriters ''. 
XXXX - delayed closing occurs, we get socked w/ a 4.625 % 10 yr fixed rate rather than the 3.625 % rate promised in XX/XX/XXXX. 

I HAVE ALL the back up documents and/or emails to support the above. 

This was truly " bait and switch '' by AMERIS Bank.

Company response to consumer: Closed with explanation