Consumer complaint received 2021-09-18
Product: Mortgage — FHA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: AMERISAVE MORTGAGE CORPORATION (CO)

My sister, brother and I were approved for a loan from AmeriSave Mortgage Corporation and we were sent a certified approval letter on XX/XX/XXXX. I was very transparent with my loan officer that we had no money in savings and we would need to apply for assistance programs to help fund the home loan. XXXX XXXX XXXX, my assigned Loan Officer assured me that there were programs to help with the cost of purchasing a home and that he would help us apply to these programs. I submitted all of the necessary documentation that my LO requested, my credit was checked along with XXXX information. On XX/XX/XXXX, I was asked to make a {$500.00} deposit that would be used to cover the cost of an appraisal. After making the payment and being issued a certified approval letter we were ready to look for a home. On XXXX, we found a home that we loved and wanted to put an offer on. It was at this point where my realtor mentioned that we would need about {$5000.00} in earnest money to go under contract. There was no instance where my LO mentioned to me that I would need XXXX  of dollars in earnest money to even go under contract on a home. She also mentioned that we would need another $ XXXX {$7000.00} at closing. I would have never paid for a {$500.00} appraisal fee if I would have known that I needed {$5000.00} just to go under contract on a home. On XXXX, my realtor and I attempted to call XXXX XXXX XXXX multiple times, I emailed and texted him and he never responded. On XX/XX/XXXX, my realtor called customer service and we did a three way call with XXXX XXXX. During this phone call she stated, that she would get the process going to issue a refund for my {$500.00} appraisal fee because it was clear that I could not afford to purchase a home at that time. She stated that she would call us back before the end of the day on the XXXX and if not then on Tuesday XXXX. She did not call back either days. From XXXX XXXX XXXX I called XXXX XXXX several times with no answer and I left voicemails asking her to call me back. She never returned any of my calls. On XX/XX/XXXX I called the customer service number and spoke to XXXX XXXX and he stated that he would reach out to XXXX XXXX and that she would call me back by the end of the day or latest on XX/XX/XXXX. She did not call me on XX/XX/XXXX or on XX/XX/XXXX. I called XXXX XXXX and left him a voicemail on XX/XX/XXXX stating that XXXX XXXX had not called me and asked him to give me a call back. XXXX XXXX called me back on XX/XX/XXXX and was surprised that XXXX XXXX had not reached out to me. He said that in the notes that he was reading that my refund was denied and that someone should have called to inform me. No one from AmeriSave had called me back. He stated that he would reach out to XXXX XXXX and XXXX XXXX and that they would call me either that day XX/XX/XXXX or on XX/XX/XXXX. On XX/XX/XXXX, I had still not heard from anyone from AmeriSave so I reached back out to XXXX XXXX. He had forwarded me an email from XXXX XXXX with details as to why I was denied my refund. The two reasons I was denied a refund for my {$500.00} appraisal fee was because AmeriSave was not at fault and because I had decided to go to a different lender. After speaking to him XXXX XXXX finally called me on XX/XX/XXXX and she told me over the phone that I was denied my refund and then transferred me to XXXX XXXX. While on the phone with XXXX XXXX, I tried explaining to her that I was not going to a different lender. I told her that I am not financially ready to purchase a home with AmeriSave or with any other lender. I also explained to her that I felt like my loan officer should have told me about the XXXX of dollars that I would need to pay up front to go under contract on a home before he had me pay a {$500.00} appraisal fee. She argued back to me saying that the {$500.00} fee I payed was for an application fee and that she was unsure of why the sales department and loan officers call it an appraisal fee. She also told me that it is not the loan officers job to inform me about the money that I would need for earnest money and closing costs and that I should have done my due diligence. 
I feel as if AmeriSave has never had my best interest at heart and that the least that they could do to help with this situation is refund me the {$500.00} application/appraisal fee that I payed up front.