Consumer complaint received 2016-09-27
Product: Mortgage — Conventional fixed mortgage
Issue: Credit decision / Underwriting — 
Company: AMERISAVE MORTGAGE CORPORATION (PA)

Your response to my original complaint contained several items which you are reporting inaccurately. If you listened to recordings of my phone conversations with your representatives and reviewed emails between them and myself, you will find what I am about to list is correct. 
When I spoke with your loan originator I made it clear that I had XXXX rental cabins on my property along with the home in which I live. I specifically said I did not want to waste any time applying for a loan if that would be a problem or if my rental income would not be included to qualify for the refinancing. I also reiterated this with your loan processor. There could have been no doubt or misunderstanding about the XXXX rental units being on the same property as I described this specifically and explained that this had been a problem with some lenders when I was trying to refinance 2 years ago ( which I was able to do ). 
While I do not know why the appraisal listed my address as XXXX, my address is XXXX as I stated to your representatives and on my application. It is also the address on my tax bills which you received copies of early in the process. I also confirmed this in emails with your representatives which I quote as follows : On XXXX/XXXX/2016, 1 day after I applied, I received this emailed request : " On that XXXX, it says you have a rental property. Do you still own that property? If you do, we will need : -tax bill if applicable -Homeowner 's insurance if applicable -Lease agreement '' To which I replied via email that same day : " Attached are my tax returns, leases and insurance documents you requested. There is no tax bill for these properties since they are on my home lot. '' So it was made clear as early as XXXX/XXXX/2016 that the XXXX rental units were on the same property with my home. Then, for some reason, on XXXX/XXXX/2016 I received this request via email : " Sorry for the late response. We have been really busy with rates being so low right now. I just now found the email you sent to me. I reviewed those documents and I know we will need a tax bill for XXXX " To which I replied via email that same day : " I just uploaded the most recent tax bill, also emailed you a copy. There is no other income. But just to be clear, there is no separate tax bill for the rental units. I get one bill for the home I live in and that is what I sent you. '' As I stated before, the only tax bills were for my home, address XXXX. How you can come along more than 2 months later and try to create confusion over the rental units or the fact that they are on the same lot as my home in spite of the emails cited above and the phone conversations I had with your representatives at the very beginning of this process is difficult to understand. 
You go on to state how you declared the appraisal unacceptable, yet you selected the appraiser. I 'm sure there are properties that have rental units along with a residence that have sold in the area. Why not find an appraiser that could provide an acceptable appraisal instead of just denying my loan? 
Then you say my rental income can not be used. I use it every month to help pay my bills. It has been consistant for more than 11 years without interruption. I explained I needed this income to be included in order to qualify for the loan the very first times I spoke with your loan reps back in XXXX. After checking into this they told me the property would be no problem and I should go ahead and order an appraisal. At this point, with interest rates at XXXX for a conventional 30 year mortgage, I stopped looking for other lenders and believed I had a locked in rate and the loan would get done. As the process dragged out because of your overload of loan applications, rates moved back up and by the time you finally informed me you would not do the loan, rates were at a level that make it not worth refinancing.