Consumer complaint received 2020-10-13
Company: AMERISAVE MORTGAGE CORPORATION
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
The unfair and deceptive practices and negligent communication by Amerisave Corporation and its associates XXXX XXXX XXXX NMLS ID # XXXX ), XXXX XXXX XXXX NMLS ID # XXXX ) and XXXX XXXX have negatively impacted our credit, deceptively attempted to add fees for points on the 2nd Closing Disclosure ( subsequent to the 1st approved closing disclosure ). After the manager advised the error in fees would be resolved and finalized within a few days I received a loan denial notification two days later. Please note this denial was issued approximately 50 days from the time I began the process and on two occasions was told the loan would be closing and the title company had been contacted.

Once Amerisave received my {$500.00} deposit, there was negligent communication regarding updates and changes. Based on these practices I am requesting that Amerisave refund my {$500.00} deposit and remove the negative inquiry to our credit bureaus immediately. 

Listed below is a timeline detailing the unfair, deceptive practices and negligent communication : XX/XX/2020 : Application started with XXXX XXXX. Paid {$500.00} application fee and uploaded all the required documents and stipulations required for the refinance. The terms agreed on included closing costs and prepaid only ( no points or PMI ). We were advised that the loan process would move quickly and would not require an appraisal because we were under 80 % LTV. The reason I went with Amerisave was based on the terms we agreed to with XXXX and Amerisave reported the lowest rates. 

XX/XX/2020 : Sent email to XXXX XXXX asking for an update and to confirm if any additional items were needed. 

XX/XX/2020 : Received email from XXXX XXXX that the file has been Conditionally Approved. 

XX/XX/2020 : Received notice from XXXX XXXX that Closing Disclosures need to be reviewed. I sent and email to XXXX XXXX and XXXX XXXX asking them to explain an increase of {$2400.00} for Prepaid fees and {$390.00} for Closing fees. 

XX/XX/2020 : Spoke with XXXX XXXX on the phone and she explained the increase in fees based on timing from the initial estimate ( XX/XX/2020 ) and impound account. I understood her explanation and immediately reviewed and approved the Closing Disclosure with a rate of XXXX XXXX NXXXX fees for points XXXX. I confirmed with XXXX XXXX that she was going to email the underwriter to lock in the rate because we would be closing within the next few days and that I would receive a call to complete the paperwork for the refinance. 

XX/XX/2020 : Received notice from Amerisave that a new 2nd Closing Disclosure required review. Emailed XXXX and XXXX XXXX immediately to understand why I was now receiving a new disclosure that was charging an additional {$4300.00} for points. 
I also received an email from XXXX with a status update which reflects that everything was completed prior to XX/XX/2020 and the loan should have closed with the Closing Disclosure that was acknowledged XX/XX/2020. 

XX/XX/2020 : Spoke with XXXX XXXX and she acknowledged that the increase in fees were for points that were not in the initial Closing Disclosure and said that she has notified the manager XXXX XXXX to contact me. 

XX/XX/2020 : Emailed XXXX XXXX and XXXX XXXX advising that I had not received a call from their manager XXXX XXXX and asked for his contact information. 

XX/XX/2020 : XXXX XXXX responded by email to inform me that she asked that XXXX XXXX contact me but did not provide his contact information. 

XX/XX/2020 : Emailed XXXX XXXX and XXXX XXXX advising them that I still had not received a call from XXXX XXXX and needed to know what was happening with the refinance that began XX/XX/2020 and I was told would be closing after we completed the initial Closing Disclosure XX/XX/2020. 

XX/XX/2020 : Spoke with the manager XXXX XXXX and I explained that I agreed to the increase in fees between XX/XX/2020 and the Closing Disclosure XX/XX/2020 but there were not supposed to be any fees for points, which appeared on a 2nd Closing Disclosure XX/XX/2020. XXXX XXXX acknowledged the error and advised me that he would have the fees for the points removed and that I would receive a call within the next few days to complete the final paperwork for the refinance. 

XX/XX/2020 : I emailed XXXX XXXX, XXXX XXXX and XXXX XXXX to confirm if the updated Closing Disclosure had been updated so that I can review and approve it. I did not receive a response received from any party. 

XX/XX/2020 : I emailed XXXX XXXX, XXXX XXXX and XXXX XXXX to confirm if the updated Closing Disclosure had been updated so that I can review and approve it. I did not receive a response received from any party. 

XX/XX/2020 : I emailed and called XXXX XXXX, XXXX XXXX and XXXX XXXX to confirm if the updated Closing Disclosure had been updated so that I can review and approve it. 

I contacted XXXX XXXX and she informed me that she was waiting for XXXX XXXX manager to make the correction to the additional fees that being added for points not in the original agreement or Closing Disclosure provided XX/XX/2020. 

XX/XX/2020 : Received email at XXXX from Amerisave that they had closed my file for incompleteness or because they were unable to approve me for a loan program. 

I immediately emailed XXXX XXXX, XXXX XXXX and XXXX XXXX requesting a call. I also called XXXX, XXXX XXXX and XXXX XXXX at XXXX and XXXX and left voicemails each time. 

I did not receive an email or phone response from XXXX XXXX, XXXX XXXX or XXXX XXXX so I then contacted Amerisave customer service. I spoke with XXXX XXXX at XXXX and explained the entire situation. He advised me that XXXX XXXX appeared to no longer be with the company and he took my information to investigate the problem. XXXX XXXX returned my call within 30 minutes and requested that I email him the Closing Disclosures I had received and said that he was working with his manager to correct the problem. 

I then received a call from XXXX XXXX at XXXX and he informed me that it appears that my loan was declined but he could not explain why. I went over all the details above and informed him that I was told XX/XX/2020 and XX/XX/2020 that all items for my loan were satisfied and that I would be hearing from somebody to sign docs within days. I informed him at this time that I wanted my {$500.00} returned because I no longer trusted their company and practices but he asked that I give him one last chance to work with his manager and advised me that he would follow up that evening or the following day. 

XX/XX/2020 : Emailed XXXX XXXX advising him that I was expecting a response and had not received a call. Called XXXX XXXX at XXXX and XXXX and left a message on both his work and cell. I have not received a response.

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