Consumer complaint received 2021-04-14
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: AMERISAVE MORTGAGE CORPORATION (GA)

I am submitting a complaint against Amerisave Mortgage company for practicing unfair, deceptive, and fraudulent acts during the loan process and closing of the refinance of my home. The actions of Amerisave during the loan process and the closing have caused me financial harm and put me at risk of losing my home. All the emails that are mentioned below are attached to support this complaint. 

XXXX XXXX I contacted Amerisave in response to an advertised refinance rate for my home. I was transferred to their employee and agent XXXX XXXX ( XXXX ). He asked me questions about income, work history and my credit score. I told him the last time I checked it was XXXX. He asked if he could pull my credit. He informed me that my score was only XXXX and I would not qualify for the advertised rate. I found it strange that my credit had changed so drastically and I expressed this to him. He said dont feel bad most people dont know their credit score but, I am looking right at it and that is what it is being reported He quoted me the interest rate he said would be available to me which was considerably higher. I asked him for the Loan Estimate and he said his company does not provide that because they are not going to do a lot of work just to have me take it around to other lenders unless I applied and paid a {$500.00} fee I would not get it and the rate would not be locked anyway. I told him I had never heard of this and that I had loans with XXXX and I dont ever recall a fee. He said some companies do that and some dont but Amerisave charges an application fee. I told him I was going to call XXXX to see if that was their policy. Using high pressure tactics he let me know that the rate was really good and if I took the time to call XXXX the rate may not be available because it was XXXX XXXX and rates change at XXXX everyday and they had been increasing over the last weeks. He said, listen I know you need this loan and my manager just approved to only charge you {$200.00} to lock the rate. He billed my XXXX and issued a receipt. I asked to get a copy of the Loan Estimate and a document that showed the rate was locked. After quite some time of him telling me he was having difficulty processing the documents he informed me his IT department just let him know XXXX has an outage and it should be fixed shortly. I told him I had to leave and to please just send it this evening when XXXX is working. 

An hour later I get a message from an appraiser to set up an appraisal on the XXXX. Believing I would have the LE I set the appointment. Later that same evening I still had not received the LE only a partial screenshot reflecting a rate lock with no interest rate or loan amount. The message from XXXX stated that his manager was able to lock you ( email attached ) XXXX XXXX I requested the LE again. XXXX  responded by sending another screenshot of the loan being in process. Later that evening I received a request for documents that included a Georgia Acknowledgement of Receipt of Loan Estimate. I did not sign it. I emailed XXXX to let him know I would not sign it because I still had not received the LE and requested it again. 

XXXX XXXX An appraiser was scheduled to be at my home at XXXX. I called XXXX to let him know I wanted to cancel the loan and to tell the appraiser not to come to my home. No response. I called Amerisave and his Sales manager answered and I told him to cancel the loan and cancel the appraiser because I had not received the LE that I was supposed to have 2 days ago prior to them charging me any of the fees they charged on my XXXX card. He said, oh you dont want to do that XXXX will call you in a moment. XXXX called and said he was sorry he thought he sent it and would send it right over. He also let me know that backing out of the loan was a bad idea because interest rates had gone up, that the {$500.00} was non-refundable and they had already started working on my loan and I would incur expenses related to that work. At this time I have a worker I hired knocking at my door and the appraiser. I asked the appraiser for his card and he said he did not have one but, that he had been sent to my home by Amerisave. I let him in and watched him as he went through my home. The only thing he did was snap some pictures, did not take any measurements or inspect the outside balcony decking.. I found out during this time from a friend that typically, on a refinance, inspections are not required. I thought this was strange and it raised a concern. It prompted me to suspect that the Appraiser was somehow affiliated to Amerisave. After the appraiser left I checked my email again and there was no LE that XXXX promised was being sent. I called him. I asked him who the appraiser was that he sent to my home because he didnt present a card or anything to identify himself or his company. I asked if he was affiliated with Amerisave. His answer was no we just dial an XXXX number and they assign an appraiser He continued and let me know it would be illegal to have an appraiser that was affiliated to the lender. Then I let him know I still had not received the LE. He said he didnt know why I hadnt received it because he emailed it. He said that you must be having problems with your email. That was not the case as I had been receiving all emails from all over the country. He said well give me a different email and I gave him a gmail account. I received it and told him I would look it over and if I had any concerns I would let him know. Upon reviewing the LE it showed the rate was not locked. It also had a disclosure page that stated that the appraisal company was affiliated with Amerisave and the title company that was processing my loan was also an affiliate. When I brought this up to him in a subsequent conversation he claimed he was ignorant to that fact and was surprised to hear it. He also became nervous and defensive and said he felt insulted that I would even ask such a question or have a concern about the rate lock when he had already told me the rate was locked. He didnt know why I would be concerned because he had my back. 

I became very uncomfortable with the entire experience and I went and researched Amerisave. I found out that they had been ordered to pay XXXX XXXX dollars by the CFPB for the same unfair and fraudulent practices that I was experiencing. I also discovered there were numerous and common complaints that were being reported by other consumers. 

XXXX XXXX I received a solicitation from Amerisave which stated that I Amerisave had purchased my credit history and based on that I qualified for a special mortgage rate. I looked at the rates and they were very low. I contacted XXXX and he said I would not qualify because of my credit score. I looked at my credit score history that is monitored by XXXX XXXX and XXXX XXXX  with the 3 credit bureaus Amerisaves credit agency, XXXX XXXX, received the scores that they supplied to Amerisave and that Amerisave used to determine my interest rate on XX/XX/XXXX. On that day my scores were about XXXX points higher than what Amerisave claimed it was. I called each of the 3 credit bureaus and asked if it was possible that XXXX pulled my credit and was given different scores than XXXX XXXX and XXXX XXXX  would have received. They each agreed that it was not possible for them to give different credit scores to different companies on the exact same day. 

XXXX XXXX I received my closing disclosure and I saw things that were different than the loan estimate and that I did not understand. I reached out to XXXX and Amerisave and no one would return my call or if I did get someone they said the only person who could help me was XXXX. I called XXXX XXXX a credit counselor at HUD and she didnt have an answer to the questions regarding the disclosure and the changes. She and I got on a three way call to get clarification from Amerisave. We kept being told by their representatives that they couldnt help and they transferred us to different employees who said they couldnt help. Finally we were transferred to the general mailbox and Ms. XXXX left a message requesting someone to call back. 

The next day I received a call from CS and he explained there were some mistakes on the Closing Disclosure and to expect a new one. I asked him why there were 13 months of cushion impounds for taxes and insurance when those were being escrowed in the monthly payment. He said it was a mandatory requirement of the loan. 

XX/XX/XXXX & XXXX I called Amerisaves closing attorney because I had questions about the closing and I wanted to review all the documents that were going to be signed at the closing. They did not return my call. To this day I have never had any contact from them. 

XXXX XXXX I was advised that a notary would be handling my closing although I had signed a document agreeing to a video closing with the attorney hired by Amerisave XXXX The closing was scheduled at XXXX and I received an email with the closing documents at XXXX and the file was corrupt and I could not open it. I called the attorneys office and received no response. I sent an email as well. The notary arrived, XXXX XXXX. I asked if she was the attorney handling the closing and she said she was not an attorney. I asked how we were going to do the video conference and she said we didnt need to because in Georgia a notary can conduct a closing if I had a witness, which I did. It is my understanding that this is a violation of the State of Georgia real estate law requiring a residential real estate closing transaction to be held by the closing attorney either in person or video closings have been temporarily permitted. I asked her questions on things I didnt understand and she said she could not comment because she was not an attorney. I also asked her if the 13 months of additional impounds were mandatory even though I was paying an escrow amount in the monthly mortgage payment. She did reply to that and said yes it was required. I am not financially sophisticated but later I realized Amerisave did this to pad the loan and also to take advantage of the fact that the state of Georgia has no law regarding an accounting of the escrow cushion. So, I have no idea where that money is held or if I can get it back. I still am not clear what practice was used to discriminate me to pay this fee when it is not a standard practice for all Amerisave 's refinance loans. I told XXXX XXXX I wanted copies of the documents I signed but she said she didnt bring a printer but that she would email them to me when she got back to her office. She did not. I called her number and left a message and I called the attorney and again, no response. I reached out to Amerisave to provide the documents and they overnighted them on XX/XX/XXXX. 

XXXX XXXX The loan was supposed to be funded on XX/XX/XXXX and I did not receive the funds that day.. I called Amerisave and they said they would look into. They got back to me on the XXXX and said that I gave them the wrong bank routing number. Thats impossible because I gave XXXX XXXX, their notary, a copy of a blank check from my check book. 

XXXX XXXX The funds were wired into my account. Amerisave has charged me interest from the date they were supposed to fund the loan, XX/XX/XXXX and did not return the interest for the days they failed to fund the loan up until the XXXX. 

XXXX XXXX I received an email from Amerisave that they have transferred my loan to XXXX Mortgage who has as many complaints and lawsuits as XXXX. Most of the complaints are about the loss of escrow money and the mismanagement of it, which is probably another reason XXXX asked for the excessive impounds. There was no reason for the impounds. My credit history is excellent and my LTV is 70 %. I believe XXXX will transfer my loan as I have learned this is how consumers are scammed into a foreclosure. I am seriously concerned about losing my home. 

XXXX XXXX Amerisave collected my payment for my homeowners insurance and put it in escrow. Today XXXX informed me it has not been paid for the month that Amerisave is supposed to pay and they will be collecting the money from me. I am concerned about the mismanagement of my escrow money and the excessive cushion impounds they collected and have not provided me with any accounting of. 

The deceptive and fraudulent acts by Amerisave have caused me harm financially because they omitted information or inaccurately reported information. I have not been able to clearly understand this transaction. The fabricated credit score information caused me to pay a higher interest rate. Amerisave handcuffed me to this loan by their fees and misleading me to believe I would have to pay all services if I backed out of the loan. The deceptive omissions, unfair treatment and untimely delivery of information by Amerisave left me in a disadvantaged position to make sound choices in this transaction and for securing it with my residential home with this predatory lender. 

They have not followed the Federal regulations set in place in at the very least the requirement to give the loan estimate before charging me any fees and for not disclosing their relationships. prior to taking my money. Although they were penalized by the CFPB they continue to use bait and switch and take advantage of consumers.

In the State of Georgia it appears they violated the real estate law that requires closing to be done in person with the closing attorney. I will also be filing a complaint with the State of Georgia Consumer Protection.