Consumer complaint received 2020-05-07 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: AMERISAVE MORTGAGE CORPORATION
State: OK

Complaint narrative:
On XX/XX/XXXX my neighbor suggested I refinance my home at 2.75 % from XXXX. I call the number he gave me a XXXX answer. Mr.XXXX   confirm the 2.75 % interest rate on refinancing my home. I went with it. Mr.XXXX  asks me several questions and fills out several forms. Everything was going fine until the next day when I was bombarded with many forms. All the forms had in big blue letters We must have the following documents signed and returned within 48 hours failure to do so will negate this deal. Some forms were easy others would require some digging. While filling some forms in the web I came across a question, do you want a Lock or Float interest rate. I selected Lock ; however the button was not active. I keep clicking the Lock option but nothing happen. I talk to Mr.XXXX  about this and he said not to worry there must have been a glitch in the system but that he knew that I did not wanted to be Float ; so I click on Float. The next odd thing that happens is that they demanded {$500.00} to continue with the refinancing. They just told me is a require fee that must be provided if I wanted the refinance loan ( I gave them my credit card number ). The next odd thing that I consider odd was that they wanted access to my bank account. They told me I need to have over {$11000.00} in my checking account the number was over eleven thousand and close to twelve. Throughout the business deal this question.. More like a demand that they needed my bank account kept coming up. I keep telling them that this is a roll-over refinance. They were not entitled to access my bank account. Latter they sneak an additional {$81.00} for closing cost. So I continue to provide them all the forms they requested from me. I even talk to Mr.XXXX   several times for him to investigate why they wanted my bank account, and why the {$11000.00} plus was continuously mention. I call Mr.XXXX  on a daily basis ensuring that all forms were properly provided for AmeriSave  Mortgage in a timely basis. I wanted them to have all forms on the same day with no delays. I check AmeriSave.com web site to make sure no new forms would just pop-up, fearing they might use this to deny my refinance request. On Wednesday XX/XX/XXXX I receive an email from them denying my refinance. In the letter I was given a number XXXX to call if I disagree with their results. I call this number ( several times ) a woman named XXXX  answered and redirect the call to XXXX. When I asked XXXX  if she work for AmeriSave she slams the phone down. She never said anything. Then I call again this time I was redirected to XXXX. His answering machine said, Mr XXXX is NOT AVAILABLE. He became Mr. Not Available. So I call MrXXXX and he tried to tell me that it must have been a misunderstanding. He tells me that with my Credit Score of XXXX. He was sure I would not have any problem refinancing my home at 2.75 % with the credit I had and the fact I was an XXXX XXXX XXXX with XXXX XXXX XXXX. 
Please note that the interest rates continue to go down as low as 2.5 % and that is when I got the letter telling me that they were not going to refinance my home. 
In their letter of disapproval for the refinance their explanations were unfounded, bordering fraud. Yet AmeriSave excuse not to refinance my house at their advertised rate of 2.75 %, according to them, their letter red " Our credit decision was based in whole or in part on information obtained from an affiliate or from an outside source other than a consumer reporting agency. '' Their letter told me I can request for " disclosure of the nature of this information '' yet I can't talk to anyone at AmeriSave Mortgage in XXXX, Georgia. They also quoted the principal reason for credit denial as Unacceptable payment record on previous mortgage. 

Once again this sounds like a scam, fraud, criminal act. What I see is that I was enticed/trap with a low interest rate 2.75 % and when the rates drop to 2.5x % I got a letter telling me that the loan is cancel. And they kept my {$500.00} that they told me is a fee but no explanation given. AmeriSave Mortgage was aware that my credit score from XXXX  & XXXX  were XXXX ( consider an EXCELLENT rating ). They also knew that I have paid all my bills on time because my bank is under the automatic monthly payments. My bank sends the house payment on time every time from 1986 to the present. This information is available in the credit reports they requested from the creditable credit report organizations. Yet, unprofessionally lie to me telling me that a none verifiable source told them that I have an Unacceptable Payment Record on Previous Mortgage. A lie that AmeriSave Mortgage generated not to refinance at low rate that would cost them money. As of today they have NOT given me a real reason for their decision nor do they want to talk to me. As of today they have a lot of information about me, from the forms I filled, and they kept my unexplained {$500.00} fee. This gives me reason to worry. They forfeit their own contract by inventing lies and then they cancel my refinance. 

FYI : I have sent a similar complaint to the XXXX XXXX XXXX.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation