Consumer complaint received 2015-08-07
Company: AMERISAVE MORTGAGE CORPORATION
State: OR
Product: Mortgage
Sub-product: VA mortgage
Issue: Settlement process and costs

Complaint:
Seven weeks ago I closed on a VA loan with Amerisave Mortgage Corporation. Now they want proof where my close funds came from. Odd. XXXX rounds of documents were requested and sent to verify close funds prior to closing. The loan has closed, funded, and I 've made my XXXX payment already. 

The loan processor, XXXX XXXX, wanted a HUD on the sale of my former home. I asked what that had to do with my loan? We were closed and funded already. Besides, my former home has not sold as yet. Under contract, but not sold. XXXX XXXX said in email, " this was a problem and she 'd have to speak to management. " I 'm a XXXX XXXX veteran with severe XXXX. I work hard to XXXX. I was immediately fearful I was going to lose my loan for an error I did not understand, and was led to believe was somehow my fault. 

XXXX XXXX emailed again to say it 'd be sufficient if I sent a " tax list '' and a " current copy of the homeowner 's insurance policy. '' I had no idea what a " tax list '' meant. I inquired if she meant a " property tax statement? '' My request for clarification was ignored. 

I insisted on an explanation since they had access to my account file. She told me she did n't have the documents. I must send the documents. I refused. I questioned the absurdity of a lender not having documentation. Finally XXXX XXXX emailed to say " they needed to be able to show the investor that the close funds came from the sale of my home. " I immediately contacted the VA XXXX XXXX XXXX in XXXX, CO. They reassured me Amerisave could not take away my loan after it had closed and funded. They told me any attempt by Amerisave to pressure me into helping them show that the close funds came from a non-existent source was to try and get me to assist in fraud. 

I felt pressured by the compliance agreement, but my gut and the VA said things were n't right with Amerisave. This was fraud in the opinion of the VA. I told XXXX XXXX I was confident I would remember if my loan approval had been contingent on my former home 's completed sale. My realtor told me I would n't be in my new house otherwise. 

I finally got out the thick stack of papers from my close package. I went through each sheet. I was surprised and dismayed to see that the Close Addendum page showed the required sale of my former home. The addendum also stated there must be a minimum of {$42000.00} in proceeds received by me in the sale of the house. 

Licensed lenders on the XXXX information website assured me that regardless of whether Amerisave had intended for their loan to be contingent on the sale of my former home, the fact that the loan was closed and funded had negated Amerisave 's demands on me. Respondents to my question also pointed out the inconsistency of the loan processor and underwriters having asked for multiple copies of proof for my mutual funds cash out prior to closing. This too helped negate Amerisave 's position that I must do something for them. This was far beyond the intent of a compliance agreement. 

XXXX XXXX supervisor, XXXX XXXX, ignored my voice mail, and email inquiries. It was n't until I told XXXX XXXX I would be handing this situation over to a real estate attorney that XXXX XXXX surfaced. There was no salutation, no signature block. Only the words, " I will review and advise. " I pointed out the inconsistencies I found on their XXXX XXXX XXXX Application, and on the addendum page of the close document. XXXX XXXX responded that " she was working with the underwriter to resolve the issues and will confirm with you tomorrow. " That was two days ago. 

I have even had confirmation from a retired XXXX executive friend of mine that the lender is out of line. There is nothing required of me. It is the lender 's problem. Period.

Company public response: Company believes complaint represents an opportunity for improvement to better serve consumers
Company response to consumer: Closed with explanation