Consumer complaint received 2021-10-04
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: AMERISAVE MORTGAGE CORPORATION (VA)

I applied for a refinance with Amerisave on XX/XX/XXXX. My loan originator was XXXX XXXX ( XXXX ID # XXXX ). I naively believed XXXX and Amerisave when they said that while they did not lock in a rate at the beginning of the process, they ( Amerisave ) would pay to buy down the rate if it went up. The agreed to terms were 2.5 %, no discount charges, and nearly {$1000.00} in lender credit. 

I have excellent credit and provided every piece of documentation that they asked for promptly. On the Amerisave side, things continually dragged out and I would have to call/email multiple times a week to get status or to push things forward. On XX/XX/XXXX, I received a new disclosure that changed the ~ {$1000.00} credit to a ~ {$1400.00} discount charge. A change of ~ {$2400.00}. When I brought this up with XXXX, he said it was just part of the process and they ( Amerisave ) would pay to buy the rate down and that our original terms would still stand. Then on XX/XX/XXXX, a new disclosure increase the discount charge to over ~ {$7500.00}, so an almost {$8500.00} increase from the original terms. According to their documents, they waited until XX/XX/XXXX to lock in the rates even though the rates continually increased from XX/XX/XXXX. 

I told them that I would not sign this latest disclosure and tried escalating. Getting anyone up the management chain to respond was incredibly difficult. After chasing them day after day and finally getting through to different " managers '' once in a while, I finally agreed to pay ~ {$1200.00} in discount charges ( as opposed to a ~ {$1000.00} credit ) because as much as I was upset that they lied, I didn't think I'd be able to get anything better. This was agreed to by a few different managers including XXXX XXXX and XXXX ( don't have the last name ). They provided a closing disclosure on XX/XX/XXXX with these terms that we agreed to. 

After agreeing to the terms of the XX/XX/XXXX disclosure, they then started sending new disclosures that either increased the loan rate ( to 2.625 % ) OR increased the discount charge to ~ {$4000.00}. I kept responding that they had already agreed to terms on XX/XX/XXXX ( well after they locked in the rate ) and that I wanted those terms. They basically stopped taking calls or responding to emails but eventually I was able to get through to a processor name XXXX XXXX who on XX/XX/XXXX agreed that they would be meeting the XX/XX/XXXX terms. After that it was no communication again as much as I tried to get a hold of anyone. Then on XX/XX/XXXX I got an email saying that my loan was declined. I asked they and XXXX XXXX responded on XX/XX/XXXX to say that it was canceled and not declined. When I asked what that mean there was no further replies. 

In XXXX I was able to find another lender that was able to close me in less than 3 weeks. 

In XXXX I received a letter from Amerisave saying that my credit had been denied due to " Credit Application Incomplete ''. Which of course is the last whopper of a lie in a 4 month battle that was filled with nothing but lies and incompetence from Amerisave.