Amerisave Mortgage Corporation

Amerisave Mortgage Corporation

Reviews: 1

1 RATING
(1)

Total views: 2154

Published: 28 March 2021

Posted by: Anonymous

We applied for a cash-out refinance loan through Amerisave Mortgage Corp. on 7/20/2016. | Credit score 826, debt to income ratio 25%, employed at same job 16.5 & 30+ yrs. | After MONTHS of extensions, errors, & incompetence, were denied 11/2/2016 for a Small Business (SBA) FEMA loan lien that was known by the lender from day one. We were NEVER told it may be an issue. Instead, they took our money & wasted our time; THEN told us what they knew & should have discussed before money was given. I believe they intentionally get low appraisals through their own NOVO Appraisal service, which is supposed to be a 3rd party company that has no link to the lender or the buyer, but is ACTUALLY OWNED by Amerisave. | On 7/22/16, we were asked day/times available for appraiser to come. On 7/24/16, I received a date/time that was obviously NOT one I had ok’d. Was told 7/25 I would be contacted 7/26 with time that fits my (very open) schedule, was not contacted until 7/28. Had appraisal done 8/8/16. Although lender claims report would be available 2 days, we didn’t get the report until 8/31/16. It came back WAY too low. He had numerous errors in it, did not add upgrades, got addresses, date & sqft wrong, used comps in other towns (I could go on). We obtained a dispute form late afternoon 8/31 & was told to get own comps, photos & be very detailed with discrepancies. I was then asked less than 29 hrs later – at 7:58 AM on 9/2 if I was finished. They asked for my dispute back in ONE DAY, but allowed the appraiser over THREE WEEKS to get his in. I filed dispute 9/2/16, in one day, I did research, comps, photos, etc. spoke with local realtors who said appraisal was way off & a bank lending officer told me they refuse to use that appraiser due to incompetence. It took them 25 days to respond – Dispute denied, 9/27/16 | We continued to work with them since we were out credit report ($29), appraisal ($440), & two payoff statement fees ($60). Was assured everything looked fine & my rate lock was extended. Due to appraisal, we were sent new disclosure with all the wrong info. Requested corrections, waited for updates. Not once did anyone mention the SBA loan may be an issue. We were concerned so 10/28/16 I contacted SBA. SBA said lender should have provided paperwork for a subordination agreement & I was told we could not get a cash-out refi. I told lender what SBA said so we switched to standard refi. New disclosures came back completely wrong AGAIN; it looked like someone else’s income, debts, assets & liabilities. | Amerisave kept stringing this along, got money, & now after 3 months & 3 weeks, they claim they can’t lend to us due to an issue that should have been a red flag in the very beginning – the SBA loan. I am out money, but that’s not the worst part. Because of how long they took, the interest rates are way higher should we want to refinance elsewhere! | I have e-mails of all the errors, the apologies, the excuses. The communication & writing skills of the processor were that of 14 yr old. | A senior manager called & said they could go on with the loan if I paid $3,800 off on the SBA loan, but their figures didn’t add up. I believe the company is a scam. The fact that they are allowed to use their own 3rd party company for appraisal & Title & Escrow should be against the law. They were sued in the past, & I think they are up to their old tricks again. (see link below) | www.law360.com/articles/566505/cfpb-fines-amerisave-19m-for-bait-and-switch-scheme | DO NOT use Amerisave! DO NOT let anyone use NOVO Appraisal Services!

Rate and Write a Review on Amerisave Mortgage Corporation

Sending

Farber Legal

I hired Mindy Farber through a referral from the Maryland Bar Association. She seemed competent on the initial phone consultation and I

EaseUS

I bought the recovery software. It didn’t recover any file. Zero files recover. They say on the website money back grandee but they refuse

Angel Montfort

Do you ever feel that you’re going through the motions instead of truly living? Or that you are so consumed with sadness, fear,,

Colonial National Mortgage

I am writing to you because I have been having difficulty with my mortgage lender Colonial Saving Mortgage since 2010. In effort to make a

Dr. Veronica Dumas

Is your relationship a source of struggle and pain? Allow the experts at the Miami Couples Center to teach your the necessary skills to

Comet Loans

How can this even be legal?? They high-pressure you into taking a loan, knowing how desperate you are, claim to “Read” you the

Katie Thompson

Are you experiencing brokenness and hopelessness? In the midst of pain and suffering, I can help you find hope in an otherwise hopeless

Angel Lynn DeVoe

New clients are welcome! As a Licensed Mental Health Counselor, National Certified Counselor and Educational Specialist with 17 years