Consumer complaint received 2022-02-15
Product: Mortgage — FHA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: AMERISAVE MORTGAGE CORPORATION (VA)

Around XXXX PM Eastern time on Friday, XX/XX/2022 I spoke with a mortgage loan originator named XXXX XXXX with a AmeriSave mortgage. During this phone call I informed XXXX that I was in the beginning stages of looking for a home and wanted to get information on loan programs. XXXX asked me how much I was looking to be financed for and I told him that I had seen a property for around XXXX. We talked a little bit more and I gave him my personal information to do a prequalification. During this time he steered me towards an FHA mortgage. He informed me that for the amount I was looking for FHA would be a much better option. I had asked about a couple loan programs that I was familiar with, and ultimately ended with a prequalification for an adjustable rate FHA loan after XXXX years. He stressed the importance of how much interest rates are fluctuating, and how it would be in my best interest to lock that rate in with a {$500.00} deposit. He told me that even though Im still looking if it didnt work out I could get my money back no worries. After speaking with him and thinking some more I thought it was kind of odd to have to pay {$500.00}. I also had to ask several times for a copy of the prequalification letter. Over the weekend I connected with another mortgage loan XXXX with a different bank. She advised me that since I have good credit it would be in my best interest to go with a conventional loan. She gave me loan estimates for both an FHA and conventional loan and explain how it makes more sense with my credit to go conventional. That same day, Sunday, I emailed XXXX to let him know I would like to withdraw my loan application. I got an automated email about how I needed to upload documents, and requested a cancellation of my application and a refund of my deposit. The next day Monday, XX/XX/2022 I received another email from XXXX asking for documents. I responded to that also. Around XXXX oclock that evening I sent him a text message asking if he got my emails. He said he did not. I informed him that I would like to cancel my loan application and have my deposit refunded. He asked why and I told him that I didnt feel like I had a great experience and I decided to go with another lender. He then told me that my deposit would not be refundable since I was going with another lender. We connected on the phone and during that phone conversation he told me that theres no reason he should refund the money since I wasted his time. He also stated that it was not refundable and I could talk to his boss who would tell me the same thing. Why would he refund me when I wasted his time. He also said I told you to contact me on my cell phone and that was the best way to get a hold of me. I reiterated to him that over the phone conversation he stated that if it didnt work out Id get my money back. He said that if I got a denial he meant that if I got a denial I would get my money back. After a heated conversation and him telling me several more times that I wasted his time he still refused to refund my money