Consumer complaint received 2021-01-04
Company: AMERISAVE MORTGAGE CORPORATION
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
My complaint is with Amerisave Mortgage. I had 2 loans going back 6 months with this company. Amerisave failed to be able to stick to the quotes provided or GFE ( which was provided maybe a month or two after we began the process and I paid the {$500.00} fee for appraisal ) the loan could not be locked even after they received the appraisal ( since they just could not process it in a reasonable time ) the loan officer assured me, he could get a pricing exception since the company was delaying processing so much due to being overwhelmed and not to worry. Ultimately he could not do it, and the loan officer ended up paying me back the {$500.00} fee from his own pocket in a show of good faith and to keep my other loan. I appreciate his help in all this, however if the loan has been quoted and the appraisal received they should honor the loan pricing. 

The second loan has taken nearly 6 months mainly due to the companies utter failure in processing documents or paying any attention to the file. Docs were requested repeatedly sometimes 3,4,5 times over multiple months. ALL DOCS WERE provided by me within 1 day of the request nearly in all cases, however they " didn't have them '' or the system was not " working correctly please re-upload '' or the underwriting dept was just not looking at the file to see they had the documents. Most docs were uploaded but also emailed directly to the processor and the loan officer to ensure they received them redundantly but again they would indicate not having them a few weeks or even months later. Nothing is strange about the loan. I have good credit, good ratios and am in the business, and in the time this loan was processing I closed 2 others with another company. The processor on my account has been completely ignorant of the loan process, and had zero understanding of the concepts legal issues, or even basic math which has now caused major issues when we finally got the account approved. During the process she has hung up on me, could not get my name right, got my property type and addresses confused ( did not realize it was an investment property therefore requesting items for the wrong properties. ) Refused to communicate, XXXX likely since she did not know answers to just about anything I asked ) did not provide docs on-time as required by law or even notify me of important issues or statuses. Mainly she acted with complete willful negligence which has caused the loan to drag month after month which then I would have to provide a whole new round of documents month after month. The loan officer on more than few occasions had to let her know docs were in the file " already ''. EG.. I was asked for HOA invoices on properties, I notified them there were no HOAs. They then asked again, then after providing LOE indicating " there are no HOAs '', again month or two later they asked for it again ( 3rd or 4th time ) I just did another LOE to satisfy then days, weeks later they would come back saying could you please " wet sign '' the LOE ( causing another delay ) One large delay was just waiting on " title to get back '' and that they are having problems with their title company ( for over a month ) I contacted the processor on many occasions with usually no responses at all. Her phone did not even work the entire time, so it was even more difficult to communicate with her and she would not email me and when she did it was in such poor english it did not usually make sense. In XXXX after nearly 6 months of being strung along month after month being asked for a new round of " bank statements '' for the 4th 5th 6th time but having NO MOVEMENT on the file we were able to get the loan approved. Hurray!! However .... This was about 2-3 weeks ago. Once approved, the processor sent me final docs that were completely wrong. Initially the " underwriting fee '' was changed by well over .5 % so I called them on it and my officer ( the only person i think has tried to make this work ) quickly went and got it fixed. Then then the processor about a week later sets up signing without notifying me. I get a call from the notary. I ask her to read me the docs since I had NOT been provided updated closing docs with my date set. They were wrong again ... .They increased my loan amount by XXXX without my permission, and they have the payoff way higher!! ( evidently the processor didnt even know only one instance of taxes were paid and realize there is another until the loan processor let her know ) I contact the processor who then gets back a few days later and has me coming to the table with even more due!!!! How strange! the only thing that has happened is the principal has been paid down more so there should be less brought to the table and less paid off, and the loan amount should be lower. Well so far she is completely unable to figure it out. I asked her to get someone else involved and she has since gone silent now for 2 weeks. I got my loan officer involved who keeps contacting the processing department showing them the math and indicating that the payoff amount was wrong and they had also raised the loan amount. Thus far nearly 3 weeks the loan has been " APPROVED '' and there is NO MOVEMENT. Amerisave has been unable to set a new signing date, or send me updated closing docs with the correct numbers. Today, I received an auto email from the processor on XX/XX/XXXX, 3 weeks after " Approval '' for a new request for documents!! WOW nearly 3 weeks after approval! .This is willful negligence from this company. I truly think there is a funding problem on their end and and they are doing everything in their power not to close loans, this has cost me time and money. I could have closed this loan with almost anyone and saved for months now. I truly believe they are doing everything they can not to fund my loan. Please step in and help. I have asked for managers, higher ups, and they refuse to comply, nobody is handling this file.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation