Consumer complaint received 2021-02-11
Product: Mortgage — VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: AMERISAVE MORTGAGE CORPORATION (GA)

On XX/XX/XXXX, I applied for a VA XXXX XXXX XXXX loan with Cash-out with XXXX Mortgage via XXXX and was approved for this loan product based and priced according to our credit XXXX at a time based on the lower score, being my husband the co-borrower. After completing the application and pre-approval process, I was taken through various steps which included what amount of Cash-out we were seeking to obtain and were provided with various options to choose. We chose a $ XXXX option based on what was available and from that point, we were taken to the next screen which identified the pricing for different interest rate options. At the time and during this session on-line, I chose the 2.25 % option which was pricing out at approximately $ XXXX. I initially chose this option and stated moving through the process with the Loan Officer who structured my loan with his Sales Manager XXXX XXXX. In turn, I was told that I had to pay for the Appraisal fee upfront without receiving the GFE upfront. We were told that we would get the Appraisal Fee back at Closing. I paid the {$450.00} fee and our Appraisal was completed in XXXX. Once, I initiated the Appraisal Payment, I later then received a GFE which I could not obtain a hard copy because every thing was completed on-line and there was no way to view the Disclosures or Good Faith Estimate after completing the signatures. Also, I did not have access to the Appraisal through their system and had to ultimately request the Loan Office to send me a copy of the Appraisal, although he previously informed me that the system should allow me to download a copy of the the Appraisal, but never was allowed and constantly informed him of this issue. In turn, after multiple requests, he sent a copy of the Appraisal. Also, at times I would receive notifications that I needed to upload various documents in order to progress to Closing and each and every time I provided the documentation starting from XX/XX/XXXX - XX/XX/XXXX. The Company continued to request documents which I had already provided. I would receive various texts claiming that we need 1 or 2 more documents to complete your file or to progress to closing. Each time I uploaded documents, I did not have access or visibility to see the history of the uploads we provided to Amerisave Loan & Processing team. Our file was also sent to a Title Company called XXXX XXXX XXXX XXXX based in Rhode Island, who ultimately got our file to a Clear to Close Status on XXXX XX/XX/XXXX and sent this information to Amerisave Underwriting and Processing team who had already been processing our file. I then began to get more additional requests from the Loan Officer via the Jr. Underwriting team and provided that information as well. Almost every week I would receive a request for 1 more additional item based on the long-gated stalling tactics being utilized by Amerisave. On XX/XX/XXXX, I received a call from the assigned Processor XXXX XXXX after XXXX, stating that she would be the processor on my file and stated the Loan Officer got it to this point and now she would be taking over the process to get it to close. I was later told after following up that we should be closing by 1st week in XXXX and this story kept changing each time I called to follow-up. The Processor was not being honest and straightforward and believe she was on purpose stalling us from closing on our loan. I then escalated to the Processing Manager - XXXX XXXX on XX/XX/XXXX who stated that our file should be completed with final VA Underwriting by the end of the following week because it had been 3weeks, supposedly, that it was sitting in final underwriting que who also stated he would expedite our file as well. On the following week, on XX/XX/XXXX, I reached out to XXXX XXXX and left a Voicemail to follow-up with our prior discussion on XX/XX/XXXX and did not hear back and then received a call from XXXX who reports to XXXX XXXX. She then began to request more documentation that she claimed she needed to get the document to close. I also specifically asked what information was needed again regarding the Payoff on XXXX which they already had in their possession as well as permission to reach out to XXXX to clear up any questions regarding the pay-off amount. She then began to do a bait-and-switch on what she was requesting and refused to explain. I then stated that she was being biased and discriminatory against XXXX XXXX-Americans and was primarily stalling us in the process and not really wanting to close the VA Cash-out loan. She stated she would send an email with 2items needed and after the call and a period of time which passed by, she sent a slew of additional documents which she stated she needed and I provided those documents and did not hear back. When I called into Customer Service to raise my concerns regarding my various calls with the processor and my request to have the issue escalated, they completed the escalation process and stated I would hear back from someone. One of the Representatives stated she would also escalate to the Processing Manager - XXXX XXXX to have my file reassigned to another Processor. However, upon the Customer Service Rep entering the information, I received a call from XXXX XXXX stated why did I want to change my Processor, instead of him making the change which the Customer Service Representative requested of him. He then retaliated and did a bait and switch stating that the loan product only goes to $ XXXX, instead of the XXXX which we had been approved for and after we had already been 3.5 months within the process and inside the final closing phase. This was a retaliatory act because I raised concerns regarding the Processor and the concerns about the on-purpose elongated process in constantly requesting additional 1-off documents every week during the full stint of the loan process. I, in turn, called the Customer Service Department again to raise my concerns and spoke with a lady named XXXX who processed my additional concerns and was also informed that our file was placed in suspense by the Processor whom I had concerns with and reported. After continuing to relay my concerns to XXXX on XX/XX/XXXX, she stated the file will be escalated further and then I received a call from the VP of Sales - XXXX on Sat, whereby, I explained my concerns regarding the Processing Manger and the assigned Processor to my file. He stated that he would follow-up on Monday, XX/XX/XXXX. After receiving the call, he only restated what the Manager - XXXX XXXX - in Processing stated which was another bait-and-switch tactic as well sating that their was a cap on the loan amount and stated we now needed a XXXX Credit Score to close the loan. This was a ruthless and discriminatory bait and switch tactic that came from management because they did not want to close our loan for a Cash-out Refinance, where by we would have received approx. XXXX after items were consolidated and 2nd Mortgage would have been paid off and items from the Title Company which had been cleared to close were also provided to Amerisave. They were only looking for a scape-goat excuse to not close our loan as U.S. Veterans and XXXX XXXX-Americans. They utilized a false excuse stating that it was overlooked. How could this be overlooked and we were approved and vetted through the on-line approval system which provided thousands of pre-approval for clients in 49 States and headquartered in XXXX, GA. This bait and switch tactic has caused us emotional distress and have been negatively impacted and victimized by these illegal tactics exhibited by Sales Management and Processing Management Teams. Our file is still in suspense and they are also award that the 2.75 % lock-in rate which I chose with the Loan Officer after the file went to Underwriting would be expire on XX/XX/XXXX, which I was informed of by Customer Service on XX/XX/XXXX, to my unawares. This again was a ruthless bait and switch tactic which encompasses retaliation, racial discriminatory practices, misrepresentation, false advertisement, and bait-and-switch business practices exhibited by Amerisave who was charged by CFPB to pay over $ XXXX dollars in XXXX by for many of the same illegal practices named in my CFPB Complaint above.