Consumer complaint received 2023-06-29
Company: AMERISAVE MORTGAGE CORPORATION
State: PA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
We chose to use Amerisave Mortgage Corporation for the purchase of our new home after they agreed to apply credits to our loan to decrease their loans fees in order to be competitive with our local bank. A credit in the amount of {$5200.00} was add as an " other '' credit on the loan application that was prepared by Amerisave on XX/XX/2023 and further signed by an Amerisave agent ( XXXX ) on XX/XX/2023. Closing is scheduled for XX/XX/2023. On XX/XX/2023, we noticed that the credit had been removed. Our closing agent ( not associated with Amerisave ) noticed this as well and questioned Amerisave why this credit was removed. They ( XXXX & XXXX XXXX responded saying the credit was a glitch that should have been removed. On XX/XX/2023, I reached out to multiple parties ( XXXX, XXXX XXXX XXXX ) at Amerisave explaining the origin of the credit and to explain that I have a copy of the document where the credit is itemized. The agent ( XXXX XXXX at Amerisave said they don't use the " other '' credits category for anything other than earnest money deposits or realtor credits, so this never should have been there. The agent ( XXXX XXXX that offered the credits and added them to the loan no longer works for Amerisave, and they were not willing to check the recorded conversations. The Agent ( XXXX XXXX then stated that he reviewed all forms that were available to me, and no forms exist with the {$5200.00} credit listed. He then said, perhaps I was confused and should look at the forms again, and the number would probably change. XXXX further stated that Amerisave had already credited our loan in the amount of {$8000.00}, which he would provide info on. I explained that I would provide a copy of the document I had, which I printed from the Amerisave portal. XXXX then emailed acknowledging that he found the document I referred to but said the {$5200.00} credit was an error and should not have been included. XXXX said the {$8000.00} credit he mentioned would come from Box A of the disclosure or loan estimate, but no credit in the amount of {$8000.00} has ever been shown in XXXX XXXX of any documents provided to us. XXXX said, since Amerisave was offering a credit of {$8000.00}, and they supposedly applied a credit in the amount of {$8000.00}, it will show as " XXXX ''. I again asked him to show me a document where the credit is shown and figured into the loan numbers. I also noted that this is a separate issue and still does not explain the removal of the {$5200.00} credit that was applied to earn our business. Amerisave has not responded since XX/XX/2023. They have not provided any proof of an {$8000.00} credit being applied to the loan, and the {$5200.00} credit has been removed causing us to owe an additional {$5200.00} at closing on XX/XX/2023. One other note, when speaking with XXXX at Amerisave, she said she understood the principle behind this and they would get the credits back. I have not heard anything further from XXXX. In closing, Amerisave promised {$5200.00} in lender credits at the inception of the loan but removed the credits days before closing causing us to owe {$5200.00} additional fees at closing.

Company public response: Company believes the complaint is the result of a misunderstanding
Company response to consumer: Closed with explanation