Consumer complaint received 2016-06-29
Company: AMERISAVE MORTGAGE CORPORATION
State: IN
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Application, originator, mortgage broker

Complaint:
Applied for a refi mortgage through Amerisave did all the mountains of paperwork, appraisal, and everything asked of me. They are very slow, XXXX XXXX was my loan officer. This process started in around XX/XX/XXXX. They were running extremely behind but was informed 3 weeks ago all was fine. We finally got assigned a processor last week, we talked in email and all was fine, XXXX XXXX kept telling me all was fine. Then all of a sudden I get an email that our loan was not acceptable by the below email. 
" XXXX, Underwriting reviewed your income and we ca n't use a lot of your income ; specifically the dividend and interest income. There 's not a two year history of it. I 'm unsure why it was even being used. However, I have talked to management and we are working on getting the full appraisal amount refunded back to you. You provided us the income documentation in plenty of time so it was just an error in calculation. I 'm really sorry as the only way I am paid is if your loan closes. I will confirm with you ASAP that we are getting you the appraisal amount back. I appreciate you being so proactive throughout the process. 

-XXXX 6 days from closing and then they said they made an error. I have spoken with the President, XXXX XXXX and explained my mistrust and anger at what the heck were they doing. He apologizes and then does a song and dance explaining that they had to go through guidelines, guidelines that should have been done 6 weeks ago.He said he would look into the situation and then asked about my quicken loan which I stopped because Amerisave had a better rate and term. Then I look up complaints and see my loan officer XXXX XXXX mentioned several times. They should not be allowed to conduct any type of financial business because their system is severely flawed. The right side does not have a clue what the left side is doing and the upper management could care less. Then XXXX XXXX has the gull to email me and ask me why I am distraught that this happens all the time. If this happens all the time they should not be allowed to do business because they are messing up a lot of people lives. My wife cried for hours wondering how we can go through a process of weeks with all being ok, to woops we made a mistake. We were going to use the 2 months savings to take a vacation. Please see below. 
" XXXX, XXXX, I know. I was shocked. My assistant made a mistake in the income calculation. I am getting with my manager when he gets back from lunch to initiate the refund of the appraisal deposit. I will confirm once I know '' " XXXX, Mistakes are made. My assistant is n't perfect. I trust her judgment with income and this time her calculation was wrong. People are declined all the time for income reasons. Being declined has no impact on your credit or anything of that nature so why are you so distraught? Lending guidelines are more strict than they used to be. If you think XXXX can close the loan then reach out to XXXX. I will let you know once my manager confirms the appraisal refund. 
-XXXX I am confused also as to where the customer service is in the above. He did n't even try any alternative and just washed his hands of it. 

This company should not be allowed to operate and XXXX with peoples lives like nothing they does matters to us the consumer.

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