Consumer complaint received 2021-11-11
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: AMERISAVE MORTGAGE CORPORATION (MS)

I applied for the mortgage and was preapproved after a credit pull. During the process I was asked about my income and I reported that I earn a base salary of $ XX/XX/XXXX monthly, based on a minimum hourly rate of $ XXXX, a 40 hr week, and 52 weeks/yr. They instructed me I had to pay {$500.00} to fully " apply '' and lock in my rate. I paid the fee and began the process. Moving through the process, they have repeatedly brought me disclosures/universal application form to sign, where I attest that the information is true and accurate to the best of my knowledge/ability. They are reporting my income as approximately $ XXXX/monthly, plus some $ XXXXmonthly in " overtime ''. They are basing this on earnings YTD, and for the calclulation they are including the first 3 months of the year in which I was furloughed by my employer XXXX, due to the COVID pandemic and partial shutdown of the transportation industry, and an additional 2 weeks in XX/XX/XXXX where I did not work for XXXX due to the cross country relocation for work location change. They have presented to me my YTD earnings as of XX/XX/XXXX, and although I have only been working for XXXX for 28 or 30 weeks of that time ( depending on whether the relocation time is included or excluded ), they are counting the entire year as working time. I have provided every paystub for the entire year to them, showing the two week periods worked, the amounts earned, as well as the hourly rate for the earnings, as well as the US XX/XX/XXXX Retirement Board page showing the dates of my unemployment claim start and last claim date. Also, I have asked for multiple reviews of the data, and have provided email explanations to help them understand, since they appear to have difficulty. From the pay stubs, one can see that my lowest 2 week gross salary was {$2500.00}, and that was before the industry returned to full service. My average weekly pay for the 28 weeks worked is {$1600.00}, and if you factor the full 30 weeks, {$1500.00}, not the {$880.00} they calculate. 

I come to this {$880.00} weekly from their calculation of {$3400.00} monthly base + {$410.00} monthly overtime, multiplied by 12 months and then divided by 52 weeks. They are using this calculation to state that now, even though they have the paystubs, and I have 4.5 years of employment history as a XX/XX/XXXX for XXXX, that my income is " declining '', and that, based on this calculation instead of the factual information I have provided, that I need to sign disclosures stating this income calculation by them is correct and true, and that attest to that fact, not to mention that supposedly XXXX is based out of XXXX XXXX, NM instead of XXXX  DC, where it is located. XXXX has NO offices there in XXXX XXXX. I have refused to sign, they will not move the loan forward and now based on the calculation they state that they will not finalize the loan. 

The company took {$500.00} from me, after stating that based on my income information that I provided, which was true and correct, that I would qualify for the loan. Now, they try to make me sign false documents, skew my income calculations grossly down, and 1 week from closing, essentially deny the loan based on the calculations. 

I am attaching pay stubs, correspondence with the Amerisave officers, Unemployment information, the false disclosures, as well as the requested explanations by the company that I signed and dated and sent to them regarding pay. Additionally, I attached an example of the daily requests I receive from the company to sign the false disclosures.