Amerisave Reviews

My representative form Amerisave was apparently too busy to give me some direct information. I faxed 20 pages of information. However, there was not appropriate follow up indicating that all of the faxed pages had been received. Phone call was not returned and e-mails were not appropriately responded to. I have an excellent credit rating and had approximately 75k equity in my home. The rate was good and the closing costs seemed very reasonable to me. I got frustrated with my agent and told him to stop the process.

Here is how it works. They have you estimate your credit score and then give you a rate quote based on that exact credit score - if you vary at all from your estimate, the rate changes and the fees change. I estimated mine at 800 and it came back at 768 (why I don't know - last one I saw was 824). So my rate went up .125% and the fees went up $490. I went back to USAA and my local broker and asked if that kind of spread would affect my rates and they both said - NO! Good is good, especially since I had $200K in equity on a $300K house. SCAMMMMM!!!

even though i had an excellent credit rating, no debts except mortgage, home appraised 50,000 more than what i owe been on job 15 years had a reasonable amount of money in cd money markets,checking and home next to mine sold for 30,000 more 6 months ago than what my home was appraised and ws not getting money back and still did not get the loan.Amerisave should be honest and tell people up front that if you have not paid at least 50% on your current loan then do not apply and that would save people time and money. I do realize is more difficult to obtain a loan now but you can refi which i did with other company

Every place I have applied for a loan has done the bait and switch on rates. There is only one exception, that was First Integrity Lending in Irvine California. Rich is the gentleman who helped us get out loan. He?s the only person who told me the truth that until your ready to lock an interest rate ?Rates don?t matter until you are prepared to lock?. I was thrown off at first, but as he said you can shop all day long and have 20 different quotes. But until you lock, you don?t have any idea what rate you will get because rates are changing all day long.

First Integrity also has an A rating with the BBB with zero complaints. It?s because of honest strait shooters like Rich that they have a perfect rating with the BBB.

If the truth and a fair deal are what you seek, don?t waste your time shopping, go to Rich.

Rich
First Integrity
Phone: 800.519.6558 x114
http://www.firstintegrity.us

JUST TO FAIR to all the good Loan Consultants which ever company they work for: All companies big and small get complaints. I have posted a link and portion of the complaints in this message for CHASE Mortgage. Its who you work with people! I used to work for Chase and left them for Amerisave in 2006. Glad i did because nobody from my old is office is still working there. Amerisave is by far one of the best companies i have worked for. Are they perfect no. Are all my clients MORE than satisfied. YES especially with my hands on service. i explain then navigate them thru the Amerisave process and then research before we spend any money. If you wish to speak to me before applying leave a message here or go to best home loan online dot com. Thank you for taking the time to read. Below is the link for consumer affairs complaints for CHASE. You will find the same with all the major banks.
http://www.consumeraffairs.com/finance/chase_mortgage.html
Chase Mortgage Complaints
CHRIS of SAINT JAMES, NY August 19, 2009
On May 7,20009 I called Chase Bank to inquire about re-financing my current mortage that I currently had with WAMU.I have over 400,00.00 equity in my home and also have a credit score close to 800. The rep on the phone,Christopher, gave me a great interest rate 4.65%. He took down all my information and said I was pre-qualified and all I needed to do was give them a fee of 750.00 and they would lock the rate in for 60 days.I sent him all of the documents he requested and waited for an answer.He said the loan should close in about 60 days.
From that point forward i never heard from him.He only responded when I e-mailed him and he kept telling me it would be done in a few weeks.Finally on 8-15-2009 I received a call from someone else from the bank telling me I been declined. When asked him why he told me my debt percentage was to high. He gave me some crazy calculations on my income. They said by looking at my tax return they figure my income will be less in the next few years.I don't know how they can tell my income will go down next year by looking at 1 years tax return.I don't work on commission I own my own business and have made the same or higher salary for the past 5 years.If they have asked for my last 3 years tax returns they would have seen this.
Then when I called my rep from the bank he won't return my phone calls.the only way I could reach him is by e-mails and he won't even return my e-mails anymore.He told me by e-mail that the information I gave him on the phone didn't match what was stated on my tax return. I gave him exactly the same number on the phone as I sent him on my return.I feel they were just out to take my 750.00 fee and had no intentions on giving the loan.I knew the low interest rate was to good to be true. They were only out to get my 750.00 and that was it. I have excellent credit and have never ever been turned down for a mortage or any other loan in my life.
Read more: http://www.consumeraffairs.com/finance/chase_mortgage.html#ixzz0ds3VV2Sx

Below is the link for consumer affairs complaints for CHASE. You will find the same with all the major banks.

http://www.consumeraffairs.com/finance/chase_mortgage.html

Chase Mortgage Complaints


CHRIS of SAINT JAMES, NY August 19, 2009


On May 7,20009 I called Chase Bank to inquire about re-financing my current mortage that I currently had with WAMU.I have over 400,00.00 equity in my home and also have a credit score close to 800. The rep on the phone,Christopher, gave me a great interest rate 4.65%. He took down all my information and said I was pre-qualified and all I needed to do was give them a fee of 750.00 and they would lock the rate in for 60 days.I sent him all of the documents he requested and waited for an answer.He said the loan should close in about 60 days.

From that point forward i never heard from him.He only responded when I e-mailed him and he kept telling me it would be done in a few weeks.Finally on 8-15-2009 I received a call from someone else from the bank telling me I been declined. When asked him why he told me my debt percentage was to high. He gave me some crazy calculations on my income. They said by looking at my tax return they figure my income will be less in the next few years.I don't know how they can tell my income will go down next year by looking at 1 years tax return.I don't work on commission I own my own business and have made the same or higher salary for the past 5 years.If they have asked for my last 3 years tax returns they would have seen this.

Then when I called my rep from the bank he won't return my phone calls.the only way I could reach him is by e-mails and he won't even return my e-mails anymore.He told me by e-mail that the information I gave him on the phone didn't match what was stated on my tax return. I gave him exactly the same number on the phone as I sent him on my return.I feel they were just out to take my 750.00 fee and had no intentions on giving the loan.I knew the low interest rate was to good to be true. They were only out to get my 750.00 and that was it. I have excellent credit and have never ever been turned down for a mortage or any other loan in my life.

Read more: http://www.consumeraffairs.com/finance/chase_mortgage.html#ixzz0ds3VV2Sx

JUST TO FAIR to all the good Loan Consultants which ever company they work for: All companies big and small get complaints. I have posted a link and portion of the complaints in this message for CHASE Mortgage. Its who you work with people! I used to work for Chase and left them for Amerisave in 2006. Glad i did because nobody from my old is office is still working there. Amerisave is by far one of the best companies i have worked for. Are they perfect no. Are all my clients MORE than satisfied. YES especially with my hands on service. i explain then navigate them thru the Amerisave process and then research before we spend any money. If you wish to speak to me before applying leave a message here or go to best home loan online dot com. Thank you for taking the time to read. Below is the link for consumer affairs complaints for CHASE. You will find the same with all the major banks.

http://www.consumeraffairs.com/finance/chase_mortgage.html

Chase Mortgage Complaints


CHRIS of SAINT JAMES, NY August 19, 2009


On May 7,20009 I called Chase Bank to inquire about re-financing my current mortage that I currently had with WAMU.I have over 400,00.00 equity in my home and also have a credit score close to 800. The rep on the phone,Christopher, gave me a great interest rate 4.65%. He took down all my information and said I was pre-qualified and all I needed to do was give them a fee of 750.00 and they would lock the rate in for 60 days.I sent him all of the documents he requested and waited for an answer.He said the loan should close in about 60 days.

From that point forward i never heard from him.He only responded when I e-mailed him and he kept telling me it would be done in a few weeks.Finally on 8-15-2009 I received a call from someone else from the bank telling me I been declined. When asked him why he told me my debt percentage was to high. He gave me some crazy calculations on my income. They said by looking at my tax return they figure my income will be less in the next few years.I don't know how they can tell my income will go down next year by looking at 1 years tax return.I don't work on commission I own my own business and have made the same or higher salary for the past 5 years.If they have asked for my last 3 years tax returns they would have seen this.

Then when I called my rep from the bank he won't return my phone calls.the only way I could reach him is by e-mails and he won't even return my e-mails anymore.He told me by e-mail that the information I gave him on the phone didn't match what was stated on my tax return. I gave him exactly the same number on the phone as I sent him on my return.I feel they were just out to take my 750.00 fee and had no intentions on giving the loan.I knew the low interest rate was to good to be true. They were only out to get my 750.00 and that was it. I have excellent credit and have never ever been turned down for a mortage or any other loan in my life.

Read more: http://www.consumeraffairs.com/finance/chase_mortgage.html#ixzz0ds3VV2Sx

I have a credit score of 800 and am more than qualified to afford the re-finance I have applied for (only about 55% of appraised value). They collected a large appraisal fee within just a few days and am going on 2 months without a closing date. My phone calls are not returned and I have sent them dozens and dozens of pages of documentation. I own an apartment building and they tell me they have been unable to get a Verification of Mortgage from my bank. I finally had to track down the phone number for them. My rate lock was for 45 days and of course that has expired. I am beginning to believe this is indeed a scam!

I am usually a very savvy consumer and it is hard to put one over on me. But Amerisave did! They beat me out of $500 and I have to hand it too them, as scam artist they are very good.

I have an 820 credit score, no debts and own liquid assets totaling twice the loan amount I was requesting and it was backed up by my property that appraised at 3 times the loan amount and yet I was denied. But only after I paid them $500 and wasted a month of my time.

The Amerisave loan processor who replied below sounds just as slick as my Amerisave guy. I trusted him when he told me that there would be no problem with my golden credit, high net worth and liquid assets. But guess what, the mortgage market did not support the rate that they quoted me, so too bad, They may have closed my loan if the market rates had dropped by 1% after I locked and then they would have a high profit, but since the market rates don't support their quoted rates, I am left without a loan.

It is a Scam, a very sophisticated scam, but nevertheless a scam. So be forewarned!

Offered me 4.75% zero cost (no points or fees) loan. So I paid for application, appraisal fee, and agreed to $500 "lock cancellation fee."

Loan docs arrive:
1) My credit score is 50 points higher than I thought, than I told Amerisave.
2) Mortgage rates have fallen another 0.05%.
3) Loan docs show APR of 5.316% with points of $7443!