Consumer complaint received 2021-03-09
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: AMERISAVE MORTGAGE CORPORATION (PA)

The individual. XXXX XXXX XXXX ID # XXXX contacted us on XX/XX/XXXX from Amerisave Mortgage in regards to a refinance on our home. We discussed the fact that we currently were roughly 1-2 weeks away from closing on a refinance with our current lender and wanted to see if we could get a more competitive rate than what they were offering us. We informed this lender, Amerisave we did not want to move forward if we would have to pay for another appraisal to refinance with them and if not we would not move forward. We gave him our information to run our credit to be able to give us information on what he could offer us as far as a rate and if he could gain approval for a waiver for the appraisal. We explicitly informed that we would not want to pay for another appraisal as we just completed one a month ago give or take a few days and asked if they would consider using that one. He said that he would be able to tell us if he could gain a waiver by getting the information from us to agree to check our credit. We agreed and on a recorded call by Amerisave, XX/XX/XXXX approx XXXX we were informed that it could be done with a waiver. Based on the information he told us that if we signed the disclosure that day we would lock in our rate of 2.5 % and we would not have money to put down in fact we would have roughly XXXX $ being returned to us at closing. Weeks went by despite me reaching out to inquire on the status of the loan ( emails sent with no response XX/XX/XXXX at XXXX, XX/XX/XXXX at XXXX no response, sent again XX/XX/XXXX at XXXX and was finally responded to XX/XX/XXXX XXXX from XXXX XXXX who informed us that Mr. XXXX was no longer with the company and we now had new disclosures to sign and that an appraisal was now required.. I sent responses to understand why 3 times and no response until XX/XX/XXXX at XXXX to now inform us not only an appraisal is required but we now have to put down {$5400.00} of our money or they will restructure the loan to " roll that in '' and the rate is now 2.62 % as well as now requiring an appraisal fee to be completed due to the property inspection waiver being missed due to the lapse in time. This are all things that were not disclosed to us during the discussion on XX/XX/XXXX and were told the rate would be locked in by signing the disclosures that day. We spoke to XXXX XXXX XX/XX/XXXX approx XXXX NMLS # XXXX who informed us he was working with his leadership to make this right and look for the recorded call on XX/XX/XXXX. We have not received a direct yes or no answer on this and have been told they are still working on it. We were also told they would try to work on the pricing based on what were told again no response. We have been gauged and been bait and switched, this is so disheartening and unethical practice to create fraud to consumers in this way. We had a deal we were weeks away from closing, paid the appraisal and were told something and even provided disclosures to us to show what we were told on a RECORDED LINE, that somehow no one seems to be able to find. This is unacceptable and we would like to place a formal compliant for fraudulent and unethical practices. We now will not be able to refinance as the rates have increased and our credit was checked twice all because we were lied to. I am happy to provide copies of all email correspondence and disclosures provided to us in this situation. Thank you for your time. This business is shameful. The call needs to be pulled and verified, please help! Disclosures and email communications can be sent as needed. Thank you.