Business Profile

Mortgage Broker

Amerisave Mortgage Corporation

Complaints

This profile includes complaints for Amerisave Mortgage Corporation's headquarters and its corporate-owned locations. To view all corporate locations, see

Customer Complaints Summary

522 total complaints in the last 3 years.
151 complaints closed in the last 12 months.

If you've experienced an issue

Submit a Complaint

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

Initial Complaint
Date:06/17/2024
Type:Sales and Advertising Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
i had a paid up house at ************************** i had seen this house it needed to be sheetrock and needed a sewer pipe installed i know it needed some work when the real estate could not wait he sent me to a ********************* i just get $850 ss and a small aunty $200 he change all the figures to $300 ss and i now have exhalent credit at that time it was i had very bad credit *** 3 banks say my income dont cover it i am emailing you some papers
Business Response
Date: 07/01/2024
AmeriSave Mortgage Corporation (AmeriSave)appreciates this matter being brought to its attention and the opportunity to respond. In researching the consumers concerns, AmeriSave reviewed the transaction history for the mortgage application and communication records.
AmeriSave makes every attempt to confirm a customer will qualify for a loan prior to moving forward, and a loans final approval must come from a qualified underwriter reviewing all documentation including verifying the customers income. An underwriter reviewed the income documentation provided by the consumer, which included an annuity from ************************** and determined the annuity income could be used to qualify for a loan.
At this time, AmeriSave does not believe any financial compensation is warranted. AmeriSave apologizes for any inconvenience to the consumer and trusts this matter is resolved satisfactorily.
Initial Complaint
Date:06/13/2024
Type:Product Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
I was shopping lenders for a HELOC and Amerisave responded on 5/14 took all my information along with a $500 up front rate lock fee to keep quoted rate throughout the application process. I should have known the up front money grab was a red flag, but I was under impression if I did not go through with loan it would be refunded. Why would I throw out $500 and get nothing in return. I was working with 2 other lenders since I felt Amerisave quoted rate was too high and closing costs near $4k. Another lender offered me 3% points lower and only $60 closing cost and no request for any up front payment. I contacted Amerisave on 5/17 to advise I'm not proceeding with loan due to way better offer and please refund $500, but they declined. Representative advised he would check to see if could be done. I then receive on 5/30 from my ***************** notification that Amerisave filed as Second Mortgagee, which should not be possible since I stopped loan and never closed anything with them. I would advise not dealing with in the future due to such a fraudulent practice and upfront fees the other 2 lenders never requested. After doing more research I seen a couple different lawsuits in the past for these same practices. I requested 6/13 to reverse filing with my ***************** and refund of the $500 and was advised is normal practice and the fee is not refundable.
Business Response
Date: 06/27/2024
AmeriSave Mortgage Corporation (AmeriSave)appreciates this matter being brought to its attention and the opportunity to respond. In researching the consumers concerns, AmeriSave reviewed the transaction history for the mortgage application and communication records.
The consumer was advised that the $500 Lock and Shop Fee was nonrefundable. This language was presented to the consumer while completing the online mortgage application and prior to the consumer entering their credit card information. This is consistent with AmeriSaves Lock and Shop Fee Agreement that was disclosed to the consumer along with the Loan Estimate (LE) prior to accepting payment. The consumer physically entered their credit card number on the payment screen which clearly states the amount of the fee, what the fee is for and that it is nonrefundable. This agreement is clear as to the terms of the Lock and Shop Fee and included the following language:
In order to proceed with locking your interest rate, you agree to pay to AmeriSave Mortgage Corporation ("AmeriSave") a $500 NON-REFUNDABLE Lock and Shop Fee. Should you decide to cancel your loan application, or should your loan application be denied, AmeriSave will retain the fee collected to secure your interest rate lock. Please refer to the Loan Estimate for disclosure of the Lock and Shop Fee.
AmeriSave or its employees cannot guarantee approval of your loan application or acceptance into a particular loan program.
A copy of the consumers electronically signed Lock and Shop Fee Agreement reflecting the consumers agreement with the terms and conditions may be provided if necessary.
The consumer contacted AmeriSave and advised the processor that he was shopping around for rates. The Loan Originator (**)followed up with the consumer to address his concerns. The consumer advised that he was working with another lender and the ** offered to match/beat the competitorsoffer, however the consumer never provided the offer to their ** to review. The consumer agreed to continue working with AmeriSave and locked in the rate with the ** and entered their own credit card information.
As a courtesy, the $500 Lock and Shop Fee will be refunded to the credit card initially charged within 3 to 5 business days. AmeriSave regrets any inconvenience to the consumer and trusts this matter is resolved satisfactorily.
Initial Complaint
Date:06/12/2024
Type:Service or Repair Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
I was called by an Amerisave Mortgage representative, **********************, in regards to obtaining a mortgage through there company. I was told that I can pay $500 to lock in an interest of 5.9%. I was thrilled because When I asked ****** what the rate I was locking in, he stated 5.9%; however my paperwork states 7.1%. I felt this was very misleading.
Business Response
Date: 06/27/2024
AmeriSave Mortgage Corporation (AmeriSave)appreciates this matter being brought to its attention and the opportunity to respond. In researching the consumers concerns, AmeriSave reviewed the transaction history for the mortgage application and communication records.
While AmeriSave makes every attempt to confirm a customer will qualify for a loan prior to moving forward, a loans final approval must come from a qualified underwriter reviewing all documentation including verifying the customers income. The rate that the consumer is referring to is the generic rate prior to her credit being pulled and qualifying for the loan. Once the Loan Originator (**) pulled her credit, the rate changed, however the consumer reviewed and signed the corresponding documents locking in that rate.
In the interest of good service, the ** should clarify the consumers loan is prequalified at the time of the initial application pending verification of the essential application data.
AmeriSave regrets any inconvenience to the consumer and trusts the consumer will continue to work with employees to close the loan.
Customer Answer
Date: 06/28/2024

Complaint: 21840965

I am rejecting this response because it was not made clear to me that the rate was not permanent or locked in at the quoted rate. I was told I had to sign the form to ensure the great rate. I would have never spent $500 to lock in a rate that other banks do for free without being told that was my rate. I specifically asked what was my rate being locked in at and was told the lower rate. I would like a refund of my $500 and I will not be using your company as a lender. At this point I do not trust your process, because I am unsure about what other things I have been told and were untrue. I wish you success with other customers in the future, I just cannot continue to be one of them.

Sincerely,

*****************************
Business Response
Date: 07/19/2024
AmeriSave Mortgage Corporation (AmeriSave)appreciates this matter being brought to its attention and the opportunity to respond. In researching the consumers concerns, AmeriSave reviewed the transaction history for the mortgage application and communication records.
Per our previous response, the consumer was advised that the $500 Lock and Shop Fee was nonrefundable. This language was presented to the consumer while completing the online mortgage application and prior to the consumer entering their credit card information. This is consistent with AmeriSaves Lock and Shop Fee Agreement that was disclosed to the consumer along with the Loan Estimate (LE) prior to accepting payment. AmeriSave regrets any inconvenience to the consumer and hopes this matter is satisfactorily resolved.
Customer Answer
Date: 07/22/2024

Complaint: 21840965

I am rejecting this response because, as I have stated in previous correspondence, it you listened to the transaction you are aware that I asked what my interest rate would be and was given a much lower rate. Your company even agreed that this information was not provided to me before paying the $500 fee. I also do not know how AMS received my contact information as I never reached out to your company for my mortgage. When I received the phone call and saw ASM, I mistaken it for AMS (affiliated Mortgage Service) whom I had been working with on with my mortgage lending/ financing. So not sure where you even received my information. I feel like this is predator financing. Contacting me without me reaching out to your company. I appreciate if you refund my $500.
Sincerely,

*****************************
Initial Complaint
Date:06/12/2024
Type:Service or Repair Issues
Status:
ResolvedMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
Amerisave keeps spamming me with calls. Im already with a lender I did research on and chose. Ive never shopped around with Amerisave. They have called me six separate times with six separate phone numbers in the past 3 days. Id like it to stop as its pretty much harassment at this point.
Business Response
Date: 06/21/2024
AmeriSave Mortgage Corporation (AmeriSave) appreciates this matter being brought to its attention and the opportunity to respond. In researching the consumers concerns, AmeriSave reviewed the Loan Origination System for transaction history on leads, mortgage applications and communication records.
Records show that AmeriSave received a lead with the consumers contact information on 6/10/2024. AmeriSave contracts with a credit reporting agency for lists of potential consumers in order to make a firm offer of credit for a mortgage. Under the Fair Credit Reporting Act (FCRA), ************************* are permitted to provide this information to companies in order to make offers to potential consumers. The process identifies consumers through prescreening based on a predetermined set of criteria. Once the consumer is identified through the prescreening process, the credit reporting agency provides AmeriSave with limited information about the consumer (name, address and phone number) in order to contact them with an offer. There will be inquiries on the consumers credit report showing which companies obtained their information for prescreening, but those inquiries will not affect their credit. AmeriSave employees started to contact the consumer upon receipt of the trigger lead details. The consumer may view the Federal Trade Commissions (FTC) website for more information about a lenders ability to send prescreened offers as a result of receiving a trigger lead from a credit reporting agency. *********************************************************************

To resolve this matter, the consumers phone number ending in 6959 was placed on AmeriSaves Do Not Call List on 6/13/2024. AmeriSaves phone records indicate that no additional calls have been placed to the applicable number since that time.

AmeriSave regrets any inconvenience to the consumer and trusts this matter is resolved satisfactorily.
Customer Answer
Date: 06/21/2024

Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

Sincerely,

***********************
Initial Complaint
Date:06/12/2024
Type:Order Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
I'm filing this complaint based on deceptive mortgage practices, false statements about AmeriSave ability to offer a loan and fees that the mortgage company didn't provide. May 10th, 2024, *********************************** (NMLS ID# ****** said that he would send me $1000 if his company AmeriSave (NMLS ID# ***** could not beat my current loan estimate. ******* said "Part A & B and lender credits are controlled by the lender. All other parts are not, so you shouldnt compare part C and D because it includes estimates of attorney and title fees which are not chosen by the lender. NC is an attorney state which means you pick the attorney and title company. If you are choosing the attorney/title company that means the one you select supersedes any estimates listed on the Loan Estimates. In addition, D-H are also estimates not controlled by the lender. Lenders can manipulate the prepaid items to make it look more attractive, when in reality it will be the same will everyone end of day. This is why you should only compare line A+B+lender credits. If we are unable to beat the Loan Estimate you provided, to get the $1000, you need to close on the Loan we could not beat and provide us the Closing Disclosure to prove nothing changed with the rate and lender controlled fees." On June 5th, 2024 to inquire how the $1000 would be sent to me. ******* responded saying, "Submitted to management for review. I did notice the final APR was *****% versus the Loan Estimate showing *****% and the title company fees were higher than the loan estimate. The fact that the APR is higher may disqualify you but lets see what they say." ***************************** (NMLS ID# ******** "The APR is what is used in the comparison. To qualify the APR would have to have been equal to or lower than the one provided on the Loan Estimate. Unfortunately, this would not qualify if the APR was higher on the closing disclosure." Line A+B+lender credits did not change on the final closing document.
Business Response
Date: 06/25/2024
AmeriSave Mortgage Corporation (AmeriSave)appreciates this matter being brought to its attention and the opportunity to respond. In researching the consumers concerns, AmeriSave reviewed the transaction history for the mortgage application and communication records.
AmeriSave understands the borrowers concerns with getting the loan to closing as the review process for this loan took longer than we had hoped. AmeriSave has had higher than usual volume recently but is still focused on providing good service to our customers.
A review of the records does not support any inappropriate activity by AmeriSave employees. The offer in question states that the guarantee is based on APR, and the consumer closed on a loan with a different lender with a higher APR than the one provided to us, therefore they do not qualify for the offer.
A copy of the consumers electronically signed Agreement reflecting the consumers agreement with the terms and conditions may be provided if necessary. No monies were collected from the consumer. ***** consulting with legal counsel,AmeriSave feels restitution is not warranted.
AmeriSave regrets any inconvenience to the consumer and trusts this matter is resolved satisfactorily.
Initial Complaint
Date:06/11/2024
Type:Sales and Advertising Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
I have been receiving unsolicited calls constantly. Once I block a phone number they have called me on, they start harassing me through a different phone number. I have had no prior contact with this company and they need to stop harassing me.
Business Response
Date: 06/25/2024
AmeriSave Mortgage Corporation (AmeriSave)appreciates this matter being brought to its attention and the opportunity to respond.
AmeriSave added the phone number(s) in our records ending with XXX-XX1-8385, associated with the consumer to our Internal Do Not Call List on 6/12/2024, following receipt of this request. AmeriSaves phone records indicate that no additional calls have been placed to the applicable number(s) since that time.
In addition, the consumer may register their number with the National Do Not Call Registry at www.donotcall.gov or **************.
AmeriSave regrets any inconvenience to the consumer and their family members resulting from this matter.
Initial Complaint
Date:06/10/2024
Type:Delivery Issues
Status:
ResolvedMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
I am receiving unsolicited text messages from AmeriSave despite having my number on the do not call registry since 2018.
Business Response
Date: 06/21/2024
AmeriSave Mortgage Corporation (AmeriSave) appreciates this matter being brought to its attention and the opportunity to respond. In researching the consumers concerns, AmeriSave reviewed the Loan Origination System for transaction history on leads, mortgage applications and communication records.
Records show that AmeriSave received a lead with the consumers contact information on 6/9/2024. AmeriSave contracts with a credit reporting agency for lists of potential consumers in order to make a firm offer of credit for a mortgage. Under the Fair Credit Reporting Act (FCRA), ************************* are permitted to provide this information to companies in order to make offers to potential consumers. The process identifies consumers through prescreening based on a predetermined set of criteria. Once the consumer is identified through the prescreening process, the credit reporting agency provides AmeriSave with limited information about the consumer (name, address and phone number) in order to contact them with an offer. There will be inquiries on the consumers credit report showing which companies obtained their information for prescreening, but those inquiries will not affect their credit. AmeriSave employees started to contact the consumer upon receipt of the trigger lead details. The consumer may view the Federal Trade Commissions (FTC) website for more information about a lenders ability to send prescreened offers as a result of receiving a trigger lead from a credit reporting agency. *********************************************************************

It was confirmed that the consumer expressed no interest in loan offers from AmeriSave. Unfortunately, the phone number was not added to the internal Do Not Call List at that time. As a result, other employees attempted to contact the consumer in the following days to make them aware of available loan options. The employee who failed to add the consumers number to the Do Not Call List has received coaching to prevent this from occurring in the future.

To resolve this matter, the consumers phone number ending in 3836 was placed on AmeriSaves Do Not Call List on 6/11/2024. AmeriSaves phone records indicate that no additional calls have been placed to the applicable number since that time.

AmeriSave regrets any inconvenience to the consumer and trusts this matter is resolved satisfactorily.
Customer Answer
Date: 06/21/2024

Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

Sincerely,

*****************************
Initial Complaint
Date:06/06/2024
Type:Service or Repair Issues
Status:
ResolvedMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
On May 23, 2024, my loan officer pulled my credit to begin my loan application for a home that I am purchasing with my parents. Moments after my loan officer told me that he started the loan, I got a call Amerisave. I told them who I was working with, and the person on the phone said that they were there to help me with my loan and the pre-approval process. I was lead to believe that they were an underwriter with my loan officers company. My loan officer is a family friend, and has worked with several companies over the years, and so when they identified themselves as Amerisave, I asked if they worked with my loan officer, they said they didnt know the name of every employee and continued with the preapproval process. After paying for 2 background checks (for my husband and father), I was transferred to ***************************** who continued the loan, took $500 of lock and save fee, and then told me that it was late and well continue the next day. Meanwhile, the next morning, I talked to my loan officer, and he said that he was not affiliated with Amerisave in anyway. When I finally got hold of ******** again, he said it was just a misunderstanding on my part, so I am not eligible for a refund.
Business Response
Date: 06/17/2024
AmeriSave Mortgage Corporation (AmeriSave)appreciates this matter being brought to its attention and the opportunity to respond. In researching the consumers concerns, AmeriSave reviewed the transaction history for the mortgage application and communication records.
The consumer was advised that the $500 Lock and Shop Fee was nonrefundable. This language was presented to the consumer while completing the online mortgage application and prior to the consumer entering their credit card information. This is consistent with AmeriSaves Lock and Shop Fee Agreement that was disclosed to the consumer along with the Loan Estimate (LE) prior to accepting payment. The consumer physically entered their credit card number on the payment screen which clearly states the amount of the fee, what the fee is for and that it is nonrefundable. This agreement is clear as to the terms of the Lock and Shop Fee and included the following language:
In order to proceed with locking your interest rate, you agree to pay to AmeriSave Mortgage Corporation ("AmeriSave") a $500 NON-REFUNDABLE Lock and Shop Fee. Should you decide to cancel your loan application, or should your loan application be denied, AmeriSave will retain the fee collected to secure your interest rate lock. Please refer to the Loan Estimate for disclosure of the Lock and Shop Fee.
AmeriSave or its employees cannot guarantee approval of your loan application or acceptance into a particular loan program.

A copy of the consumers electronically signed Lock and Shop Fee Agreement reflecting the consumers agreement with the terms and conditions may be provided if necessary.
As a courtesy, the $500 Lock and Shop Fee was refunded on 6/6/2024 to the credit card initially charged. AmeriSave regrets any inconvenience to the consumer and trusts this matter is resolved satisfactorily.
Customer Answer
Date: 06/17/2024

Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

Sincerely,

*************************
Initial Complaint
Date:06/04/2024
Type:Product Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
My mortgage *** has disabled my ability to pay online, so the only options are to wire money, or send a money order.. I got behind because of a car accident, and I am trying to get caught up. I got two money orders for the amounts of ****** and ****** total of ******* and priority mailed them to amerisave mortgage, P.O. ************************************* and the tracking shows they were delivered on may 27th. Its now June 4 and they still have not credited them and when I call I get a very hostile person who talks over me and refuses to acknowledge the receipt of these money orders, which is causing me to be in default..
Business Response
Date: 06/11/2024
Thank you for the opportunity to respond to the concerns you recently submitted through the Better Business Bureau (BBB), which we received on June 4, 2024. In your correspondence, you stated that we revoked your access to online payment submissions, as such, you can only remit funds through wire transfers or money orders. You also stated that you mailed two money orders totaling $1,337.00 to our office, and received confirmation that the funds were delivered to our office on May 27, 2024. However, as of June 4, 2024, we have not applied the payments and when you contacted our office to discuss this matter, our representatives were unprofessional and unwilling to confirm the status of the funds, which caused you to default on your monthly payments. We have reviewed your concerns, and our response is indicated below.

Our records show that on April 17, 2024, we sent separate correspondence advising you that we will only accept payments in the form of cashier's check, certified check, or money order due to payments that were rejected by your financial institution on December 28, 2023, and April 16, 2024.

We can confirm that you spoke with a representative about funds mailed to our office in the form of a money order on June 3, 2024, advised you were unaware of the exact payment amounts, and disconnected the call. The account indicates that you provided the tracking number for the payments in question while speaking with another representative on this date. You also contacted our office to inquire about the receipt of these payments on June 4, 2024 and stated that you were instructed to send the funds to a P.O. Box address in ************. During this call, the assisting representative informed you of another mailing address to remit funds while the loan is in active loss mitigation.

As a result of the internal stops placed on your account for certified funds and the loss mitigation review process, please submit your monthly payments to the following mailing address:

AmeriSave Mortgage Corporation
**************************************************************************-8945

Please include your loan number on all correspondence. You will be pleased to hear that on June 6, 2024, funds of $1,337.00 were applied to satisfy the May 2024 payment, with an effective date of May 28, 2024. Although we initially received the funds at our lockbox location on May 28, 2024, the payments were forwarded to our office for processing due to the stops placed on your account and subsequently received and applied on June 6, 2024. We have enclosed a copy of your 2024 payment history for reference.

We sincerely regret any inconvenience we may have caused when you contacted our office to discuss this matter. Our representatives are trained to be knowledgeable, courteous, kind,and attentive. We will make every effort to regain your trust and provide you with the outstanding service you expect and deserve.

We believe that this response fully addresses the concerns outlined in your BBB correspondence.You have a right to request any documentation we relied upon in developing our response to your concerns in addition to any documentation already enclosed with this response. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 8:00 a.m. to 8:00 p.m. Eastern Standard Time (EST).

Sincerely,
************
Escalation Analyst
Initial Complaint
Date:05/29/2024
Type:Billing Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
I entered loss mitigation due to my payment increasing 500 per month. Never missed or what late on a payment. It extended my loan ten years and increased my interest rate. It was okay but I was informed it wouldnt affect my credit. Unfortunately that was a lie and they reported to the credit bureau that I hadnt paid my mortgage in 3 months.which I paid every month on time.
Business Response
Date: 06/03/2024
Thank you for the opportunity to respond to the concerns you recently submitted through the Better Business Bureau (BBB), which we received on May 29, 2024. In your correspondence, you stated that you entered into loss mitigation because of an increase in your monthly payment amount, and you were approved for a payment plan that extended the terms of your loan and increased your interest rate. You also stated that you were advised the payment plan would not impact your credit, but we reported your payments as three months delinquent. You requested our office to correct the credit reporting of your loan. We have reviewed your concerns, and our response is indicated below.

Our records show that on February 26, 2024, you contacted our office to inquire about options to lower your monthly payment and were advised to submit a loss mitigation application to review your eligibility for a modification. Subsequently, the loss mitigation package was emailed to you on February 26, 2024, and the completed package was received on February 29, 2024. You were approved for a 40-year loan modification trial payment plan on March 8, 2024, in which you were required to submit three monthly payments of $1,905.00 from April 1 through June 1, 2024.On March 13, 2024, you verbally accepted the offer during a phone call with a representative. Please keep in mind that the terms of the agreement did not indicate that your payments would not be reported delinquent to the credit agencies.

Concerning your payment applications, the account reflects that we received two separate payments of $1,905.00 on April 4 and May 7, 2024. However, as the funds were not received on the first of each month, your April 2024 payment was reported as 30 days delinquent for the May 2024 reporting. We have enclosed a copy of your 2024 payment history for reference.

We have determined that no adjustments can be processed now, as we are legally obligated to report accurate payment receipt dates to the credit bureaus. As such, we may only complete modifications of the credit reporting history when we have verified documentation substantiating that we received a payment in a timely manner.

To review this matter further, we would require a copy of a credit report that reflects the disputed information, as well as the front and back copies of any checks that cleared for the indicated payments, ACH tracer numbers, or other electronic transmittal information to verify the receipt date of the funds.This documentation may be sent to one of the following:

Mail Stop 1290
****************************************************************************************************************
Fax:**************
Email:****************************************************

Please include the loan number on all correspondence.

We believe that this response fully addresses the concerns outlined in your BBB correspondence. You have a right to request any documentation we relied upon in developing our response to your concerns in addition to any documentation already enclosed with this response. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 8:00 a.m. to 8:00 p.m. Eastern Standard Time (EST).
Customer Answer
Date: 06/03/2024

Complaint: 21775944

I am rejecting this response because:
I paid all of the payments per the agreement. Please send all recordings stating that payments are due on the 1st
I was told to get it paid within the month

Sincerely,

***************************
Business Response
Date: 06/04/2024
Payment history has been provided for the consumer's review.

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Amerisave Mortgage Corporation is BBB Accredited.