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
- 516 total complaints in the last 3 years.
- 146 complaints closed in the last 12 months.
If you've experienced an issue
Submit a ComplaintThe 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:01/13/2025
Type: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 writing to formally lodge a complaint against AmeriSave Mortgage Corporation due to my severe dissatisfaction with their customer service, lack of professionalism, and an unacceptable level of responsiveness. Despite my repeated attempts to seek timely updates and resolution, AmeriSave has consistently failed to meet basic standards of communication and ********** you may be aware, the industry standard for processing a loan assumption is typically 30 to 90 days. However, in my case, AmeriSave has taken an astonishing seven months without providing a clear timeline or resolution. This delay is not only unreasonable but also reflects a blatant disregard for industry norms and customer expectations.Throughout this prolonged process, I have encountered:Lack of Responsiveness: Repeated emails and calls have gone unanswered, or when responses have been provided, they have been vague and unhelpful.Unprofessional Service: The level of professionalism displayed by AmeriSave's representatives has been subpar. Basic courtesy, follow-through, & accountability have been lacking.Failure to Meet Commitments: On multiple occasions, I was given assurances of progress and timelines, yet none of these commitments have been honored.This experience has caused me significant frustration, wasted time, & undue stress. As a customer, I expected to receive a level of service in line with industry standards and basic professional courtesy. Unfortunately, AmeriSave has failed to deliver on both counts.I am seeking immediate intervention and resolution from AmeriSave regarding a loan assumption.I appreciate your attention to this matter and look forward to a prompt resolution. A call back from a qualified professional that's willing & able to resolve this issue would be appreciated.
Business Response
Date: 01/22/2025
Dear **** **********:
Thank you for the opportunity to respond to the concerns you recently submitted through the Better Business Bureau (BBB), which we received on January *******. In your correspondence, you stated the industry standard for processing a loan assumption is typically
30 to 90 days. Your loan has been in the assumption process for seven months without providing a timeline or resolution. You advised there has been a lack of response to your calls and emails, and representatives have lacked courtesy,follow-through, and accountability. You have had multiple occasions where you were given assurance of progress and timelines, which were not honored. We have reviewed your concerns, and our response is indicated below.
Our records show we were first contacted regarding the assumption process on June 13, 2024. On June *******, **** ****** called **************** and advised that both borrowers had passed away and that they were the Successor in Interest. The representative advised that they would need to speak with Special Loans and provided their hours of operation. On June 17, 2024, **** called and advised that he had not heard back regarding the documents sent. He was advised that they were received on June 13, 2024, and took three to five business days to be reviewed. On June 19, 2024, **** spoke with Special Loans and was advised that a letter of Administrator or a letter of Testamentary was needed. On June 20, 2024, **** called and was advised a written signed request was needed for the assumption.
We received a copy of ******* ******** death certificate on June 25, 2024, and a copy of ****** F.******** death certificate on July 3, 2024. On July 3, 2024, a copy of the recorded deed and government-issued ID for ********* ****** and the heir trust certificate.
Page 2 of 3
January 22, 2025
Re:Loan Number: 1478186719
BBB Case Number: 22806633
However,the original trustee did not sign the trust certificate, preventing the account from being updated. The signed deed and government-issued ID were received on July 29, 2024. As such, the account was updated on July 31, 2024, to reflect the Estate of ****** F ****** and ******* A ******, Successor in Interest ********* M ******.
Furthermore,the assumption application was mailed to the property address and emailed to ********* ****** at *************************** on July 31, 2024. On August *******, ********* called and advised that the email had not been received, and the representative requested to re-email the application.
On August 27, 2024, we received authorization to speak with ****** **** of **************** and **** ********** of ****************** as an authorized third party. On August 30, 2024, the assumption was denied due to the request not meeting agency guidelines.
A TRID loan estimate was ordered on September 9, 2024. Special Loans spoke with ********* and went over the process with him. On September 17, 2024, we received notice of intent to proceed with the loan. A supplemental package was emailed to ******************** on September 23, 2024. We received the supplemental package and supporting documents on October 3, 2024, along with a check for the assumption fees in the amount of $3,363.23 being received the following day.
The assumption package was submitted to underwriting on October 7, 2024, and the assumer was notified via email. On October 17, 2024, underwriting requested additional information/conditions from the assumer/borrower. On October *******, updated conditions were received from underwriting and sent to the assumer. The conditions were returned on October 29, 2024, and forwarded for review. On October 31, 2024, underwriting requested the conditions back from the assumer.
On November 4, 2024, additional conditions were received from underwriting, and a request for a new application was made as the original application expired. On November 11, 2024, **** ********** spoke with Special Loans and inquired about the assumption. He was advised that it was still in underwriting. The assumption was approved on November 21, 2024, and agreements were completed.The assumption was sent for closing on November 22, 2024. The closing documents were received on December 2, 2024, and the assumers name was misspelled, so corrections were requested. The corrected closing package was received on December 4, 2024, and sent for review. On December 13, 2024, the assumption package was sent to the assumer and Successor in Interest.
On January 2, 2025, we received the signed assumption agreement from the Successor in Interest, and a follow-up was sent to the assumer. The assumer signed agreements were received on January 3, 2025.
Page 3 of 3
January 22, 2025
Re:Loan Number: 1478186719
BBB Case Number: 22806633
Upon review on January 6, 2025, it was determined that the deed was incurred as It was not recorded and did not align with the agreements. Attempts were made to reach the borrower on January 8, *****. and 15, 2025, to provide an acceptable deed; however, the borrower was unreachable. On January 16, 2025, a Special Loans specialist spoke with the Successor in Interest and the borrower and advised them to provide an acceptable deed. On January 21, 2025, **** ********** spoke with ************************ and was advised what was still needed to complete the assumption process.
We were sorry to hear your comments regarding our representatives. Our representatives are trained to be knowledgeable, courteous, kind, and attentive. We apologize that this was not your experience when you contacted us. Your comments have been forwarded to the appropriate department. We will make every effort to regain your trust and provide you with the outstanding service you expect and deserve. We apologize for not meeting your expectations.
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 **************** Department at **************, Monday through Friday, from 7:00 a.m. to 7:00 p.m. Central Standard Time (CST).
Sincerely,
Candy K.
Complaint *********************************Customer Answer
Date: 01/22/2025
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this process should never have taken seven months. I was authorized by the seller on the account as someone that could call to get information about the status of the process - I was authorized multiple times. However when I called numerous times over the seven months I would only be told that someone would call me back, well that never happened until I lodged a complaint with the BBB. That's literally what it took for someone to pick up the phone and call me. Because of this my client was practically in tears. This matter is closed in my eyes, but the experience was the worst.
Sincerely,
**** **********Initial Complaint
Date:01/13/2025
Type: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 got Pre-qualified and told it looks very good just to be asked to pay $55 for a Hard Pull, then get Declined afterwards. The pre-qualification does nothing but drag you into paying for a Hard Pull credit check.Business Response
Date: 01/27/2025
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.
AmeriSaves research has confirmed a hard credit inquiry was made on 1/13/2025. The recorded call shows the Loan Originator (**)requested the consumers permission before initiating the hard credit inquiry. The consumer proceeded to give the ** the social security numbers in order to execute the inquiry. In addition, the consumer provided the data for a mortgage loan application to be completed. Credit inquiries can only be disputed if they occur without the consumers permission.
To prequalify for a refinance or purchase, a consumer may click on Rates on AmeriSaves website and see a promotion that states, No SSN or Hard Credit Pull Required Typically for Pre-Qualification.* This promotion has an asterisk which refers to an additional disclaimer that provides, While SSN and hard credit pull are not typically required in order to review your available mortgage rates and get pre-qualified, if you choose to continue and submit a loan application,AmeriSave will then request your consent to pull a credit report in order to proceed. As it relates to the credit inquiry fee that was charged, AmeriSave cannot guarantee approval when the fee is accessed; AmeriSave does not know whether or not the consumer qualifies until the credit pull has been completed.
The consumer may reference the link below to view this disclaimer. ****************************************************
To address the concern of how the credit inquiry will affect the credit score, too many hard credit inquiries in a short timeframe can affect your credit. However, credit scoring models will consider multiple inquiries for a certain kind of credit product within a short period as a single inquiry. The result is a smaller impact to the credit score. The consumer may reference the resources below for more details regarding credit inquiries.
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AmeriSave trusts this explanation addresses the consumers concerns.Initial Complaint
Date:01/09/2025
Type: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.
In September 2024 I called AmeriSave and spoke with **** **********. I explained to him that I was looking to access funds in my equity in order to finish home projects. I did have a current bankruptcy on my records, so he explained that the only option was refinancing. I said great lets do that. It would pay off my credit cards and then it would also give me a cash out option. I think it was around $17,000. I said great that will give me money to complete my projects never once did he ever mention anything about reserves or an inspection so he bullied me into going ahead and processing and I paid the $500 and then was transferred to ******* ***** and she very quickly said I had to pay reserves and An inspection would be required. I told her my projects were not complete instead between her and **** they went ahead and processed my Application:, I was told by **** that I had a significant amount of time to get the repairs completed however I was harassed daily to get things done that I could not get done at that time so I asked **** to withdraw my application and refund the money. He said that he could do that. *** been in contact with him since October and he keeps telling me its been processed but here it is January *** not received the $500 refund. Also, the way it showed up on my credit report was that I was at fault and it dropped my credit score significantly but I was not at fault if **** wouldve told me even once about the inspection, I wouldve ended the conversation at that time. I literally called and said at the very beginning Im really just looking for information because its the first time *** ever even inquired about accessing this equity. I truly feel I was taking advantage of immensely!!!Business Response
Date: 01/24/2025
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.
There is no evidence that AmeriSave, or any of its employees, initiated the credit pull without permission. Based on this, AmeriSave is unable to reverse the hard credit pull because authorization was provided in connection with the inquiry.
As a courtesy, the $500 Lock and Shop Fee was refunded on 1/10/2025 to the credit card initially charged. AmeriSave regrets any inconvenience to the consumer and trusts this matter is resolved satisfactorily.Initial Complaint
Date:01/09/2025
Type: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.
Received a letter dated Dec 28 2024 about a residential loan being denied. We haven't requested a loan from this company. I tried calling them and the representative told me that we asked for a loan a year ago (??).Thi is so scam like and unprofessional.Business Response
Date: 01/27/2025
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 records reflect the consumer initiated a loan application for a refinance and authorized a soft inquiry credit report on 8/14/2024. The consumer did not move forward with the process and no further action was taken until AmeriSave mailed the consumer a copy of the Statement of Credit Denial, as required by the Equal Credit Opportunity Act (ECOA) Regulation B, to the address on file. There are currently no active loans in AmeriSaves system with the consumers name.
AmeriSave regrets any inconvenience to the consumer and trusts this matter is resolved satisfactorily.
Initial Complaint
Date:01/06/2025
Type: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.
On 12/22/24 I talked to a loan officer concerning refinancing my home. It was not explained to me the I would be purchasing points to get a lower interest rate and was under the impression the person handling my loan was just giving me a lower interest rate. I explained I was on workers compensation and was told that wouldn't be an issue. I received a call from a loan officer and it sounded like my income would be an issue. Also, If I carried through with the loan my insurance rates would go up giving no benefit to refinancing the home. I spoke with ***** and tried to explain and was told the $500 is non refundable. I'm lead to believe they would not count my workers compensation as income and would not have been approved anyhow. I feel the $500 rate lock is a predatory lending practice designed to keep you from shopping for fair rates, and make you feel financially obligated to carry out a poor financial decision. I would like my $500 and I would be happy.Business Response
Date: 01/21/2025
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.AmeriSave regrets any inconvenience to the consumer and trusts this matter is resolved satisfactorily.
Customer Answer
Date: 01/21/2025
Complaint: 22775510
I am rejecting this response because:
No other loan company binds you with non refundable deposits. The fact that I was purchasing points was not clearly explained. I was under the impression that it was a straight forward interest rate. I think financially binding people to keep them from shopping and clearly understanding what they are applying for is a scam. Is $500 today worth my future business and interest accrued on a future mortgage. A refund today is worth future business. You are creating a hardship when you can't provide a theisable product.
Sincerely,
***** ********Business Response
Date: 02/04/2025
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. No new information has been provided by the consumer for review. Any inconvenience to the consumer is regrettable. AmeriSave has made a good faith effort to address the consumers concerns.Initial Complaint
Date:01/04/2025
Type: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.
We are filing this complaint against Amerisave Mortgage Corporation and **************** regarding a mortgage agreement dated July 24, 2013. While living in *******, we entered into this agreement with the understanding that Amerisave would disburse a $140,000 loan, as outlined in the promissory note:"In return for a loan that I have received, I promise to pay US $140,000."I gave Amerisave a promissory note valued at $140,000 as consideration, expecting the loan to be disbursed. However, no loan funds were ever disbursed. Despite this, we made over $300,000 in payments, including $719.80 monthly payments and a $134,056.17 deposit on April 20, 2016.For the past six months, we have made repeated attempts to contact Amerisave and Dovenmuehle to settle this matter, including certified notices sent on August 21, 2024, September 18, 2024, and December 10, 2024. Unfortunately, both companies have failed to respond to any of our communications.Our goal has always been to resolve this issue amicably, but their lack of response has left us no choice but to escalate the matter. Retaining the promissory note and its proceeds without fulfilling their obligations is unjust and has deprived us of our property and its associated value.Actions Requested:We respectfully request BBB assistance in resolving this matter. We demand:Restitution of all payments made and the $140,000 promissory note value.A full accounting of all transactions and confirmation of whether the note was securitized.Return of the original promissory note and all proceeds derived from it.Compensation for financial harm caused by these failures.Conclusion:While living in *******, we entered into this agreement in good faith, believing the loan would be disbursed as promised. Despite our repeated efforts to settle this matter over the past six months, both companies have failed to respond.We urge BBB to assist in facilitating communication and resolving this matter.Thank you for your attention.Business Response
Date: 02/10/2025
Thank you for the opportunity to respond to the concerns you recently submitted through the Better Business Bureau ("BBB"), which we received January 5, 2025. Your correspondence state that no loan funds were disbursed from your July 24, 2013, mortgage agreement for the above reference loan. You are requesting restitution of all payments made and the value of your Promissory note, a return of the original Promissory Note and all derived proceeds, a full accounting of all transactions and confirmation of whether the note was securitized, and compensation for financial harm caused by these failures. We have reviewed your concerns, and our response is indicated below.
we have fully investigated the issues raised in your letter and have determined that no action was required to address this issue at this time, as you did not provide sufficient information for us to investigate the dispute. We need to know the specific information you are disputing and an explanation of the basis for your dispute. Please submit the following documentation so that we may further investigate your dispute:
1) a complete copy of your credit report which specifies any information you are disputing, and
2) any other written documentation that substantiates your dispute, such as a copy of your bank statement showing an ACH payment or copies of the front and back of canceled checks for the account and dates in question.
You may submit this information by mail, fax, or email. If you require copies of any additional documentation for your loan, please contact our **************************** Please note that debt removal will not be considered further, and any further correspondence formatted as such a request will only be recorded in our system and not responded to.
We believe that this response fully addresses the concerns outlined in your BBB correspondence.
Initial Complaint
Date:01/02/2025
Type: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.
Went to Amerisave to get a home equity loan. Was quoted $35k and payments would be $303 a month for 20 years. I was then instructed to pay a $500 fee upfront for closing. Was never explained about a lock and shop fee. When we proceeded to the next step, they quoted me $18k and payments at $405 a month. I told him thats not what weve agreed on. Ive reached out to them several times asking for my money back and theyve refused to talk to me about it. Theyre not supposed to change the contract and terms after quoting me a price and payments. Thats breach of a verbal contract. I just want my money back.Business Response
Date: 01/20/2025
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.
The consumer notified the Loan Originator (LO) that they received a better offer from a competitor, however the consumer refused to provide AmeriSave with a copy of the competitors offer. The consumer further explained that he was too busy with other responsibilities to provide the requested documentation. In order for AmeriSave to match and/or beat a competitors offer, AmeriSave has to have documentation of the other offer (which was not provided).
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.
AmeriSave regrets any inconvenience to the consumer and trusts this matter is resolved satisfactorily.Customer Answer
Date: 01/20/2025
Complaint: 22760337
I am rejecting this response because:
I was never told anything about a lock and shop fee or whatever you call it. Furthermore, afterwards, they changed the terms of our agreement breaking that contract. I just want my refund and be done with them.
Sincerely,
****** *****Business Response
Date: 01/23/2025
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.
The recorded call indicated that the consumer was aware of the Lock & Shop fee prior to providing their credit card information. A copy of the Application Fee Agreement with the consumers signature has been included for review.
AmeriSave regrets any inconvenience to the consumer and trusts this matter is resolved satisfactorily.Initial Complaint
Date:12/31/2024
Type: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.
This past September I was doing research on LendingTree which I thought was legit looking into a home equity loan. In less than a minute I received a call from a very nice young lady. She asked for the usual information and minutes later with details that I had been approved. To get the process started I needed to provide documents and a $500 deposit that was refunded if this fell apart. I advised her that I would give some thought and do some research on the company. I read the very mixed reviews and said whats to lose . If things went south they will refund my money. I forgot to mention that they a loan supervisor call me the next day because the young lady could sense I was apprehensive. Well things look like we were moving in the right direction until until I notice I no longer had access to the web site. It kept saying I wasnt found and surprise surprise I couldnt reach anyone by phone after they had the money. . I am not looking for blood just my money back. It may not be a lot but I work hard and dont like being blatantly ripped off. I have left messages and even have been solicited a couple times by different ***** I guess to get me again. As many others have said this company is totally shady and shame on Lending Tree for allowing them be on their site. Next stop state attorney general.Business Response
Date: 01/16/2025
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 1/7/2025 to the credit card initially charged. AmeriSave regrets any inconvenience to the consumer and trusts this matter is resolved satisfactorily.Initial Complaint
Date:12/31/2024
Type: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 called the company to get a mortgage loan. They told me I had to pay for the credit report which was $41.00. I had to pay $41.00 for myself and my husband that totaled out to $83.00. As soon as they connected me to mortgage bank the phone hung up. They never tried to call back. When I called from my husband phone where I conducted the business from, a weird noise was made and it wouldnt allow the call to go through. So I called from my phone and they said I didnt make a payment. I told them I can see it on bank statements and they hung up. When I tried to call back the weird sound happened like I was talking to someone in a different country and wouldnt allow me to call back.Business Response
Date: 01/21/2025
AmeriSave Mortgage Corporation (AmeriSave) appreciates this matter being brought to its attention and the opportunity to respond. In researching your concerns,AmeriSave reviewed the transaction history for the mortgage lead (or mortgage application).
To address the communication issue, the call logs show the Loan Originator (LO) should have done a better job of returning calls and providing the consumer with status updates. The level of service provided is not consistent with AmeriSaves standards.
As a courtesy, AmeriSave previously refunded the Credit Inquiry fee on 1/7/2025. AmeriSave trusts this explanation addresses the consumers concerns.
Initial Complaint
Date:12/23/2024
Type: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.
We took out a loan with this company. Within ******* our loan was transferred to other companies twice. I set up auto payments with AmeriSave and their representative denies that there is one set up. Horrible business practices. I am afraid that if I make another payment that I will get hit double.Business Response
Date: 01/07/2025
******* *****
***** *****
****************
**********************
Re: Loan Number: 1487714337
BBB Case Number: 22725238
Dear ******* ***** and ***** *****:
Thank you for the opportunity to respond to the concerns you recently submitted through the Better Business Bureau (BBB),which we received on January 6, 2025. Your correspondence stated that your loan was transferred to other companies twice within two months of originally closing. You stated that you had set up automatic payments on your loan, but when you spoke with one of our representatives, they denied this. You expressed concern that you will be hit double if you make another payment. We have reviewed your concerns, and our response is indicated below.
Our records indicate your loan originated on October 25, 2024, and boarded onto our servicing system on October 30, ******** spoke with our *************************** on November 26, 2024, to request a form for setting up automatic payments, and this form was sent to you via email that same day. We received your completed form for the Automatic Payment Program (APP) on November 26, 2024, and it was submitted to our ********************* for processing. On November 27, 2024, our ********************* determined that your APP form could not be processed, as your loan was scheduled to be transferred to a new servicer within 60 days.
Our records indicate that your loan was transferred to Shellpoint Mortgage Servicing on January 2, 2025. Shellpoint Mortgage Servicing is the new contracted agent assisting with processing your mortgage payments, managing escrow accounts, and answering questions regarding the servicing of your loan. We are unable to make additional changes to your account at this time. Please contact your new servicer at:
Shellpoint Mortgage Servicing
****************************************************
*******************
Phone: **************
A Notice of Servicing Transfer letter was sent to your mailing address on December 18, 2024, and a copy of this is enclosed for your reference. As stated in your Deed of Trust, the Note or a partial interest in the Note can be sold one or more times without prior notice, which might result in a change in the entity that collects payments and performs other mortgage servicing obligations. This transfer is a business decision and is not a reflection on your account status. Additionally, the transfer will not impact the terms of your loan. We apologize for any inconvenience this may cause.
Please note that we did receive your payment of $1,000.00 on November 12, 2024, which was applied as your payment of $528.86 due for December 2024, with the additional $471.14 applied to your principal balance.
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,
******* *.
Escalations ********************************************
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