Consumer complaint received 2025-02-14 00:00:00
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Applying for a mortgage or refinancing an existing mortgage — Confusing or misleading advertising or marketing
Company: AMERISAVE MORTGAGE CORPORATION
State: IN

Complaint narrative:
Complaint Against Amerisave Loan Corp Issues with HELOC and Conventional Mortgage Application Introduction In XX/XX/year>, I approached Amerisave Mortgage Company, intending to secure a Home Equity Line of Credit ( HELOC ) and a conventional mortgage. The initial interactions appeared promising, but the subsequent process was fraught with issues that needed to be addressed. This complaint outlines the complications and lack of proper communication during my application process. 
Initial Inquiry and Deposit Upon contacting Amerisave Mortgage Company, XXXX XXXX, the Mortgage Banker, reviewed my information and confidently informed me that I qualified for both the HELOC and the conventional mortgage. Based on this assurance, I provided a deposit of {$1000.00} to process the loans. My loan numbers are XXXX and XXXX. 
Issues During Processing Misclassification of Income as Debt As the processing moved forward, it became evident that there were significant issues with how my financial information was handled. XXXX informed me that the processing company had incorrectly classified my income as debt, which caused significant considerablend delays. 
Credit Score Concerns Additionally, the processing team claimed that my credit score was insufficient for the loans, contradicting XXXX 's initial assessment that everything looked favorable. This inconsistency was puzzling and added to the growing concerns about handling my application. 
Tax Return Extension During this period, I had an extension on my tax return, which I considered might be contributing to the hold-up. However, the processor did not communicate or confirm this aspect. 
Excessive Information Requests The loan processor, XXXX XXXX, repeatedly asked for more information without adequately explaining the reasons for these additional requests. This lack of transparency created frustration and a sense of being overwhelmed by the process. 
Communication Failures One of the most significant issues was XXXX XXXX 's lack of timely follow-ups. Despite my numerous inquiries and requests for updates, I did not receive prompt responses, which exacerbated my sense of uncertainty and dissatisfaction. 
Ongoing Issue This problematic experience has been ongoing since XX/XX/year>. Despite the passing months, the issues remain unresolved, and I find myself in limbo concerning my loan applications. 
Contact Information - Mortgage Banker : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Conclusion In conclusion, my experience with Amerisave Mortgage Company has been deeply unsatisfactory due to the mismanagement of my financial information, inconsistent communication, and lack of transparency. I urge the company to address these issues promptly to restore my confidence in their services and to ensure that others do not face similar frustrations.

Company public response: Company believes the complaint provided an opportunity to answer consumer's questions
Company response to consumer: Closed with explanation