Consumer complaint received 2021-04-07
Company: AMERISAVE MORTGAGE CORPORATION
State: OH
Product: Mortgage
Sub-product: FHA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
I submitted an application to Amerisave Mortgage company and given a pre-approval ( XXXX. ) With the pre-approval I found a home. I received disclosures and other documents upon finding the home. On XX/XX/XXXX it was assigned to new loan officer. Loan officer again sent me update disclosures. After receiving the disclosure there was an issue with my student loan debt. I was asked on XX/XX/XXXX to provide this documentation to the loan officer. After providing the documentation in reference to my student loans I was told everything was satisfied and the process will continue. I then instructed to get homeowners insurance. On XX/XX/XXXX I purchased and prepaid Homeowners insurance for the home. It was forwarded to the mortgage officer. On XX/XX/XXXX I begin asking for a closing date from the loan officer to make sure the insurance covered the corrected dates and closing date. I received no answer. But I did receive disclosures about an appraisal of the property. I was informed Amerisave was waiting on the appraisal of property to provide a closing date. In XXXX an appraisal was completed but need to be reappraised due to issues on behalf of the owner. Owner ( s ) provided substantial amounts of money to fix the issue for the appraisal to pass. Again I was asking and seeking questions about closing, any issues etc. I sent email on XXXX, XXXX XXXX XX/XX/XXXX, XXXX all seeking answers about closing dates, cost of closing, any issues etc. All the few times they answered it was " everything is ok ''. So I proceeded based on hearing from my closing agent and title company closing was near I submitted my 30 day notice to landlord, bought new furniture, continued to pay on home insurance, and also providing more earnest money for the purchase of the home. Including the fact the sellers had put substantial amounts in the home to comply with appraisal. I received an email on XX/XX/XXXX to review the update appraisal report only to log in an notice a message the loan was " declined ''. I immediately begin to call seeking answers, as if this deal feel through I would and am now homeless and lost over {$10000.00} in monies. I was told due to my student loans and income to debt ratio I was declined- an issue I believed was satisfied. I am not being evicted because I gave a 30 day notice to landlord, threatened to be sued by seller due to the monies they put into home for appraisal, monies spent on home insurance, furniture and other items for homes. I need answers why was the process drugged out to so long on an issue I believed and told was settled. I need my money returned, I have no home or place to go me and my family will be homeless. I should have been informed in XXXX this was an issue. I sent several email as you can see aksing for help, making sure everything was ok, please help me.

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