On January 14th 2022 I contacted AmeriSave comapny to find out if I can qualify for loan to purchase a home.
Agent Curtis Fergusson worked with me on initiating the application process. During the processing, he explained how he needs to lock down the rate otherwise he couldn't complet the application process, so I had to pay $500. When I questioned the amount he said this can be used as payment towards the loan at the end of purchase.
He also assured me that I will get my a refund in case the loan didn't go through. There was never any mention of this fee being non-refundable. The loan didn't go through the next business day, I was told that my refund will be processed with 5-7 days on Jan 17.
Today is Feb 9th and I have not received my refund as of yet.
I'm a 59 year old single working as a preschool teacher who doesn't have a high income to hire a lawyer for this, but I do hope this behavior can be exposed so others will not suffer as me.
I opened a loan application with Amerisave. After 60 days, after rates had gone way up, they changed my loan type based on a policy that I have never seen, but that cost me the rates I needed to refinance and I ended up with no loan, and costs of almost $500 that they would not refund, due to this unseen policy. I opened a Better Business Bureau complaint, and they only stood behind their statement that they followed their internal policy. Lame and bad business.
On, April 30, 2019, we, Jack and Beatrice Tullis, was contacted by a Rafael Sanchez with AmeriSave Mortgage Co poration in Atlanta GA . We told him what we were looking for and he told us that they strive to make the process smooth and hassle free. We explained to him that we had been discharged from a Chapter 13 and had our papers to prove it; he said no problem, I have a company that can get around that.
Well let me tell you, this has been one nightmare. We told him that we were looking to consolidate some bills and use our home and land to be able to do this. He then told us that we had to pay them up front a fee of $500, which we did and he told us that it would be given back at closing; he sent us all types of forms and documents that we had to sign and return which we did. He sent us a closing statement, and upon checking the closing statement on the accounts that we wanted to consolidate, we notice thaat he didn't have our loan on our home listed; he came back, its on there, from our credit union. I told him that was our truck loan; Oh he came back, then you will have to pay that out of the funds you will be receiving.
Well this has been going on now for several months, extra forms documents to be sent in and returned; a appraiser came out to do the appraisal, which we never did receive a copy of, and was told "this is a unique home, and the appraiser hasn't returned the appraisal yet; he kept given us all kinds of excuses, as to why we weren't going to close on July 25, 2019; then finally he came up and told us just a few days ago, I can't get the appraisal company for FHA to approve the loan, because they are saying your home is a "tiny" home and FHA don't mortgage them. Our home is stick built Exterior T-11 siding with a 50 year warranty, built on a Pier- Crawl space foundation; 16 x 44; 2 x 6 rafters, 2 x 4 stud walls, with R-19 insulation thru out our home; 2 x 8 floor floor joists, 4 x 6 skids Pressure treated for all exterior wood; 5/8" subfloor; it is not a "mobile Home".
We have been mislead, lied too by AmeriSave Mortgage, and we feel we should be given back the refund of the $500 which they coceiger us in paying.
Anyone out there looking for a loan/mortgage, stay away from AmeriSave Mortgage; they are a complete "ripoff"
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)
The company is a scam. I applied for a mortgage loan and never received an offer. thet break laws with impunity. dan cohen and the employees at this company are absolute liars. please check the better business bureau website bbb.org they were fined $25,000,000 by the federal government in 2014 for lying. i applied for a loan on 5/24/2016 and never received an offer. for 4 months i waited on never heard from them. do not beleive a word that they say. they are paid to lie to the public.
Amerisave Mortgage Corporation Reviews
On January 14th 2022 I contacted AmeriSave comapny to find out if I can qualify for loan to purchase a home.
Agent Curtis Fergusson worked with me on initiating the application process. During the processing, he explained how he needs to lock down the rate otherwise he couldn't complet the application process, so I had to pay $500. When I questioned the amount he said this can be used as payment towards the loan at the end of purchase.
He also assured me that I will get my a refund in case the loan didn't go through. There was never any mention of this fee being non-refundable. The loan didn't go through the next business day, I was told that my refund will be processed with 5-7 days on Jan 17.
Today is Feb 9th and I have not received my refund as of yet.
I'm a 59 year old single working as a preschool teacher who doesn't have a high income to hire a lawyer for this, but I do hope this behavior can be exposed so others will not suffer as me.
Please help.
I opened a loan application with Amerisave. After 60 days, after rates had gone way up, they changed my loan type based on a policy that I have never seen, but that cost me the rates I needed to refinance and I ended up with no loan, and costs of almost $500 that they would not refund, due to this unseen policy. I opened a Better Business Bureau complaint, and they only stood behind their statement that they followed their internal policy. Lame and bad business.
On, April 30, 2019, we, Jack and Beatrice Tullis, was contacted by a Rafael Sanchez with AmeriSave Mortgage Co poration in Atlanta GA . We told him what we were looking for and he told us that they strive to make the process smooth and hassle free. We explained to him that we had been discharged from a Chapter 13 and had our papers to prove it; he said no problem, I have a company that can get around that.
Well let me tell you, this has been one nightmare. We told him that we were looking to consolidate some bills and use our home and land to be able to do this. He then told us that we had to pay them up front a fee of $500, which we did and he told us that it would be given back at closing; he sent us all types of forms and documents that we had to sign and return which we did. He sent us a closing statement, and upon checking the closing statement on the accounts that we wanted to consolidate, we notice thaat he didn't have our loan on our home listed; he came back, its on there, from our credit union. I told him that was our truck loan; Oh he came back, then you will have to pay that out of the funds you will be receiving.
Well this has been going on now for several months, extra forms documents to be sent in and returned; a appraiser came out to do the appraisal, which we never did receive a copy of, and was told "this is a unique home, and the appraiser hasn't returned the appraisal yet; he kept given us all kinds of excuses, as to why we weren't going to close on July 25, 2019; then finally he came up and told us just a few days ago, I can't get the appraisal company for FHA to approve the loan, because they are saying your home is a "tiny" home and FHA don't mortgage them. Our home is stick built Exterior T-11 siding with a 50 year warranty, built on a Pier- Crawl space foundation; 16 x 44; 2 x 6 rafters, 2 x 4 stud walls, with R-19 insulation thru out our home; 2 x 8 floor floor joists, 4 x 6 skids Pressure treated for all exterior wood; 5/8" subfloor; it is not a "mobile Home".
We have been mislead, lied too by AmeriSave Mortgage, and we feel we should be given back the refund of the $500 which they coceiger us in paying.
Anyone out there looking for a loan/mortgage, stay away from AmeriSave Mortgage; they are a complete "ripoff"
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)
http://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!
The company is a scam. I applied for a mortgage loan and never received an offer. thet break laws with impunity. dan cohen and the employees at this company are absolute liars. please check the better business bureau website bbb.org they were fined $25,000,000 by the federal government in 2014 for lying. i applied for a loan on 5/24/2016 and never received an offer. for 4 months i waited on never heard from them. do not beleive a word that they say. they are paid to lie to the public.