Consumer complaint received 2020-12-29
Company: AMERISAVE MORTGAGE CORPORATION
State: TN
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
On XX/XX/XXXX I was preapproved for a conventional mortgage with AmeriSave mortgage corporation. On XX/XX/XXXX I uploaded my purchase contract with a closing date of XX/XX/XXXX and additional requested documents. By XX/XX/XXXX, I'd sent over all documents to the company via their online system, but kept receiving emails that they had not received documents. My loan originator, XXXX XXXX XXXX, who was my 2nd originator at the company told me to email all bank statements, insurance docs, etc ... because the system showed they weren't in. So I did this about 3-5 times per the various requests. By XXXX, Amerisave had already completed an appraisal of the property but did not notify me of the date or the company performing the appraisal, although I was made to pay a ridiculously high {$790.00} fee for the appraisal. 

By XXXX Amerisave had all insurance docs and everything in hand. I reached out to my originator to inquire of progress and phone calls and emails went unanswered for days on end. The originator would then call late at night and state everything wasn't in, but couldn't tell me what. He then explained to me that I was his first purchase contract and that the company prioritizes refinanced mortgages over new purchases and that they don't do many of those. This company is so unprofessional and incompetent that at no time does the loan originator know the true status of a customer 's application. The originator and underwriting teams do not communicate with one another. He explained that their underwriting department was outsourced to various individuals and there was no one person he could reach out to in order to advise of the status of my application to ensure a XXXX close date. 

I asked for escalation on XXXX and XXXX assured me my case would be. I later learned that did not happen. On XXXX, 8 days from close, I spoke with XXXX again and reminded him of the XXXX close date to ensure no issues. He seemed oblivious to the fact that XXXX XXXX & XXXX were holidays that no one was working and that my file still showed open items that had previously been sent. He said he would escalate to his manager, and call me back with a response that evening or the next day. He did neither. 

On XXXX, the day before XXXX XXXX, I received a text from my loan originator, XXXX stating that we would not close on the XXXX and that my file was escalated to management and that he would let me know something when he did. Emails and phone calls to him from me, my realtor, and closing attorney went unanswered until XXXX around XXXX XXXX. I received a call from his manager apologizing and reiterating that we couldn't close on the XXXX. The only reason given was that they were still missing files. He asked if we could extend until XX/XX/XXXX. An entire 2 months after they received all info for the file. 

His manager is XXXX XXXX, XXXX and I told him there is no way we can wait until the XXXX and that I would lose the property if we couldnt close within the next 7 days. He then asked for the XXXX of XXXX. I asked him if their company had even sent my file to underwriting? Ive done closings for over 14 years and the time he requested as an extension was nuts and indicated to me that my file had not moved from the loan officers desk. The manager agreed and advised that he himself would ensure it moved throughout the process. He intended to calm me by assuring me I wouldnt lose the property, as if I would take the word of incomptents against facts of their horrible customer service experience and lack of knowledge of lending industry practices. 

I asked him if he would send me an email of all info he stated was missing from my file. I received the email at XXXX cST. At XXXX cST on XXXX I forwarded all emails to the manager where Id sent the said missing information to the loan originator by XX/XX/XXXX and XX/XX/XXXX with confirmation of receipt from members of their team such as loan analyst, XXXX XXXX . I ccd again my real estate agent & insurance agent on the corresponding emails to XXXX XXXX. As of XXXX XXXX on XX/XX/XXXX, XXXX has neither confirmed receipt of documents or returned calls of my agent concerning the close date extension. Yet, He tried to convince me yesterday on XXXX that my file was now a priority. 

The seller of the property is now antsy and wants Amerisave to put the extension request in writing but no one is answering. As the buyer there are costs I will incur as a result of this sale not happening as scheduled, as well as the seller has costs as well that Amerisave should incur. Amerisave broke its contractual obligations to act in integrity and competence to meet the XXXX closing date. They required me to pay a {$500.00} application fee and a {$790.00} appraisal fee and {$1200.00} in origination costs for a 3.125 % speedily, but did not deliver on their end of the deal as specified. Now, Im in jeopardy of losing my home. 

My desired result is a close as soon as possible or at least within 5 to 7 days and a refund of all expensed fees required to do business.

Company public response: Company believes the complaint provided an opportunity to answer consumer's questions
Company response to consumer: Closed with explanation