Consumer complaint received 2021-02-22
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: AMERISAVE MORTGAGE CORPORATION (CA)

I paid {$500.00} application fee to Amerisave to refinance my mortagage. Due to their employee XXXX XXXX incompetence, my refinance loan never closed and I lost out on a very low interest rate. You'll find the history below and please note XXXX offered zero assistance to rectify the situation and XXXX XXXX, despite his efforts, could not get the loan updated either. Even when I tried to reapply XXXX never contacted me for a new loan after I filled out the application form, so I had no choice to move forward another more responsive lender. 


-- -- - Forwarded Message -- -- - From : XXXX XXXX - AmeriSave XXXX To : XXXX XXXX XXXX ; XXXX XXXX - AmeriSave XXXX Sent : Thursday XXXX XX/XX/XXXX, XXXX XXXX PST Subject : RE : AmeriSave Mortgage Corporation Loan XXXX Closing Disclosure Ready to Review Hi Mr. XXXX , Due to the delays we are covering the cost of the rate extension. In your case however Im showing that your loan is floating. 

XXXX do you recommend reapplication at this point? 



From : XXXX XXXX XXXX Sent : Thursday, XX/XX/XXXX XXXX XXXX  To : XXXX XXXX - AmeriSave XXXX Subject : Re : AmeriSave Mortgage Corporation Loan XXXX Closing Disclosure Ready to Review XXXX , Given that it's been over a month, I'm assuming that updating the closing disclosure isn't going to happen. As rates are starting to climb again, I don't want to wait any longer. 



Will you please advise the steps to start new loan and apply the {$500.00} application fee that I paid in XXXX? 



XXXX On Tuesday, XX/XX/XXXX, XXXX XXXX  PST, XXXX XXXX XXXX wrote : XXXX, Any progress? 

XXXX On Thursday, XX/XX/XXXX, XXXX XXXX  PST, XXXX XXXX - AmeriSave XXXX wrote XXXX Hi Mr. XXXX, I have a meeting with my manager later today to get a resolution on this because I have been reaching out to various departments to get this wrapped up but not having much luck. I will check back in with you once I know the next steps. 



From : XXXX XXXX XXXX Sent : Thursday, XX/XX/XXXX XXXXXXXX XXXX To : XXXX XXXX - AmeriSave XXXX Subject : Re : AmeriSave Mortgage Corporation Loan XXXX Closing Disclosure Ready to Review Hi XXXX, Any update ? 

XXXX On Friday, XX/XX/XXXX, XXXX XXXX PST, XXXX XXXX - AmeriSave XXXX wrote : Thank you Mr. XXXX, XXXX am working to get the updates complete that we discussed so that we can get you closed. As soon as I have an update I will let you know immediately. 



From : XXXX XXXX XXXX Sent : Thursday, XX/XX/XXXX XXXXXXXX XXXX To : XXXX XXXX - AmeriSave XXXX Subject : Re : AmeriSave Mortgage Corporation Loan XXXX Closing Disclosure Ready to Review XXXX , The Amerisave site most requested pay stubs, so I just uploaded them. 

XXXX On Thursday, XX/XX/XXXX, XXXX XXXX  PST, XXXX XXXX XXXX wrote : XXXX, Any news? 

XXXX On Monday, XX/XX/XXXX, XXXXXXXX XXXX  PST, XXXX XXXX - AmeriSave XXXX wrote : Still waiting for an update Mr. XXXX. Ill check in with you tomorrow. 



From : XXXX XXXX XXXX Sent : Monday, XX/XX/XXXX XXXXXXXX XXXX To : XXXX XXXX - AmeriSave XXXX Subject : Re : AmeriSave Mortgage Corporation Loan XXXX Closing Disclosure Ready to Review Did you get an update yet? 

XXXX On Tuesday, XX/XX/XXXX, XXXX XXXX PST, XXXX XXXX - AmeriSave XXXX wrote : Let me check on this for you to see what the status is on the updated CD. 



From : XXXX XXXX XXXX Sent : Tuesday, XX/XX/XXXX XXXXXXXX XXXX To : XXXXXXXX XXXX - AmeriSave XXXX Subject : Fw : AmeriSave Mortgage Corporation Loan XXXX Closing Disclosure Ready to Review XXXX , Will the updated closing disclosure be posted on Amerisave site prior to the notary 's visit on Thursday? 

Need to know the cash to close amount so I can get the funds lined up by end of this week. 

Thanks, XXXX -- -- - Forwarded Message -- -- - From : XXXX XXXX XXXX To : XXXXXXXX XXXX - AmeriSave XXXX Sent : Wednesday, XX/XX/XXXX, XXXXXXXX XXXX PST Subject : Re : AmeriSave Mortgage Corporation Loan XXXX Closing Disclosure Ready to Review Yes , XXXX on XX/XX/XXXX at my house is perfect. 

When will the updated closing disclosure without HELOC payoff be available on the Amerisave site? 

XXXX On Wednesday, XX/XX/XXXX, XXXXXXXX XXXX PST, XXXX XXXX - AmeriSave XXXX wrote : Ok sounds good. To be safe we can set it at XXXX local time at your home to allow a cushion, since were unsure of the exact hotel you all will be staying at at the moment. 

Does this work? 



From : XXXX XXXX XXXX Sent : Wednesday, XX/XX/XXXX XXXXXXXX XXXX  To : XXXX XXXX - AmeriSave XXXX Subject : Re : AmeriSave Mortgage Corporation Loan XXXX Closing Disclosure Ready to Review Hi XXXX, We are getting our house tented for termites next Tues and are allowed to return to it on Thursday after XXXX. So from XXXX onward on XX/XX/XXXX we are available. 

Alternatively will be at a local hotel ( still have to book it ) on Wednesday, so will be available all day there on XX/XX/XXXX. 

Really appreciate your quick assistance on this! 
XXXX On Wednesday, XX/XX/XXXX, XXXXXXXX XXXX PST, XXXX XXXX - AmeriSave XXXX wrote : Hi Mr. XXXX, Here are our next available closing dates : From : XXXX XXXX XXXX Sent : Tuesday, XX/XX/XXXX XXXXXXXX XXXX To : XXXX XXXX - AmeriSave XXXX Subject : Re : AmeriSave Mortgage Corporation Loan XXXX Closing Disclosure Ready to Review Hi XXXX , Any progress? 

XXXX On Friday, XX/XX/XXXX, XXXX XXXX PST, XXXX XXXX - AmeriSave XXXX wrote : The pleasure is mine Mr. XXXX! Thank you for this information. 





XXXX  Account Manager AmeriSave Wholesale Mortgage Solutions NMLS ID # XXXX XXXX XXXX XXXX, XXXX XXXX XXXX MN XXXX Hotline : XXXX Mobile XXXX Fax XXXX https : //www.awms.com From : XXXX XXXX XXXX Sent : Friday, XX/XX/XXXX XXXXXXXX XXXX To : XXXXXXXX XXXX - AmeriSave XXXX Subject : Fw : AmeriSave Mortgage Corporation Loan XXXX Closing Disclosure Ready to Review XXXX , Thank you for helping me. To confirm XXXXXXXX XXXX principal balance as of today is {$510000.00} XXXX XXXX XXXX -- -- - Forwarded Message -- -- - From : XXXX XXXX XXXX To : XXXX XXXX - AmeriSave XXXX Sent : Tuesday, XX/XX/XXXX, XXXXXXXX XXXX PST Subject : Re : AmeriSave Mortgage Corporation Loan XXXX Closing Disclosure Ready to Review XXXX , Will you please advise when I can expect the updated closing disclosure without HELOC payoff? 

XXXX On Friday, XX/XX/XXXX, XXXXXXXX XXXX PST, XXXX XXXX XXXX wrote : XXXX, This disclosure is showing cash to close of {$250000.00}. The loan estimate on XX/XX/XXXX shows {$16000.00} estimated cash to close as I advised that didn't want to pay off HELOC. 

Also principal balance for XXXX as of today is {$510000.00} and they are asking payoff amount of {$510000.00}. I'm assuming the overpay will be refunded with the escrow, but is it standard to ask for above the principle? 

XXXX -- -- - Forwarded Message -- -- - From : XXXX XXXX XXXX To : " XXXX '' XXXX Cc : " XXXX '' XXXX ; " XXXX '' XXXX Sent : Friday, XX/XX/XXXX, XXXXXXXX XXXX PST Subject : AmeriSave Mortgage Corporation Loan XXXX Closing Disclosure Ready to Review Dear XXXX XXXX , Your Closing Disclosure is complete and ready for you to review, you must review and acknowledge this document 3 days ( not including Sunday or Holidays ) prior to your actual closing date. You may access this document by clicking on the following secured link : https : //www.amerisave.com/returningcustomers/ Login using your email address and password. 

If you have any questions regarding the Closing Disclosure, please contact your Processor or Loan Originator for assistance. 

AmeriSave Mortgage Corporation appreciates your business.