AmeriSave

I filled out a form on-line, and someone from Amerisave called me to get some basic information on what I was refinancing, and connected me to a loan processor. I'll admit that I was initially skeptical. I asked plenty of questions, and soon felt very comfortable that I was talking to a professional who understood his job well. Michael Qidwai was our loan originator, and Robin Sills was our loan processor. Between the two of them, the entire process was easy and painless. I paid a processing fee of $500 after we reached the decision point of underwriting a new mortgage, and all documents were uploaded or downloaded through Amersave's on line web site where an account for us was set up. We have a scanner built into our home printer, so much of what we needed to do was scan documents and upload them.to our account on their web site. The web site is well organized, and easy to use. We were 6 years into a 30 year fixed mortgage, refinanced with a 20 year fixed thru Amerisave, and ended up with the same monthly mortgage payment. Our interest rate went from 4.25% to 2.875%, and the amount of cash we needed for closing was about equal to a mortgage payment. When refinancing, you end up skipping one or two mortgage payments anyway, so we basically had no out of pocket costs. My advice is to make sure you are comfortable with the loan originator to begin with, as I'm sure they can't all be a great as Michael. Robin Sills, the loan processor, was also great, and called us regularly throughout the process. I would definitely recommend Amerisave.

I have all of the same complaints about Amerisave as the rest of these Reviews. They have fake reviews on 10 best Refi Companies and the BBB in Georgia. I bet they pay a huge amount for fake reviews...
They lock in a rate, then float the rate after you wait for 2 months, string you along for several months. Give you a Good Faith Estimate with low points and every month that they string you along, they add a $1000 or $2000.per month. Before my close the points were over $*******. Plus they washed the additional $4600. I paid off of my original Mtg into the loan and they kept what I had paid off. They have horrible customer service, Send a Henchman to close the deal and try to intimidate you into taking their horrible deal. I mentioned RESPA and got my $500.00 deposit back in no time. I am still turning them in because they are violating RESPA guidelines. I am sending ALL of my Disclosure statements to them and I will also report the BBB after I see their reviews if they are being paid off. I am sick of businesses taking advantage of folks that are trying to get out of debt not into another horrible deal. A concerned citizen!

In the beginning they seem like a great mortgage company to work with. We had to extend our closing twice due to mishaps on their part. They told me multiple times that they sent documents to different entities involved with the loan such as realtor, listing agent, and title company. I reached out to verify because they continued to place blame on others. No one ever received the documents needed to move forward. When I would question or try to include everyone in emails or conference calls, Amerisave would ignore all of us for days. They kept changing the amount needing to close and would have numbers in the system saying we had an extra 4000 dollars of monthly income that was not at all true. If I had an extra 4000 dollars a month income, my purchase would have been a little nicer. We were locked out of the disclosures for over a week while they stated technical difficulties. All awhile, they were calling us demanding us to upload things to the disclosure page that was not accessible. Get use to the term technical difficulties because they had the most. They promised everytime we were going to hit the closing date and then would drop the ball and not reach back out until our realtor would have to send an addendum to extend closing. I've purchased 2 other houses prior to this and this was the worst experience I have ever had. Tried to switch type of loan without consulting me. We wanted conventional and was pre approved for such. Then when we received our pre approval letter, it show first time homebuyer... which we were NOT. They said they figured we would want closing credits. Should be no figuring... only what we asked for. I would never ever in my entire life recommend them for a mortgage. Save yourself and go to a bank.

Where do I even start. I looked into AmeriSave for a mortgage and was greeted with a guy named Jonathan Rozanski who was trying to help me and honestly thought he was going to help me. The process was basically sending an email and waiting at least 2-3 days to hear back. This was the most stressful process and I have closed on many properties before and it should not had been stressful. This company made me give them money for a "lock fee" and should of been the first red flag. No other company should charge anyone for a lock fee for any reason. I tried to file a complaint with the manager of Jonathan named Rebecca Clouthier and she didn't even bother to reply to my email or voicemail I left her. This company is a joke and a scam and I am here to warn people of this company. They never called me or emailed me of anything after sending multiple "please update me" emails even months after the scheduled closing. Thankfully I was able to reach out to another mortgage company and they were able to close my loan in two weeks and saw no reason why it couldn't close. I hope this review reached whoever is in charge of this company and takes discipline actions against everyone involved.

NEVER PAY A COMPANY A LOCK FEE!

This lender has a poor performance of delivering. They don't respond in a timely fashion. Took over 4.5 months on a simple refinance.

They will continually call and contact you until they've gotten their application fee and then will not work to be competitive on rates.

Do not recommend AmeriSave. I am using my pay it forward to share out expensive experience. AmeriSave practices deceptive mortgage lending practices in which the loan originator will lure with misleading interest rates & locked them in. AmeriSave lending officer was incompetent which resulted in making us miss our lock in time frame. Additionally, the loan officer mislead everyone including her colleagues in communicating loan specifics. She created loan we did not qualify for and gathered boat lists of info due to her poor judgement, lack of knowledge and failure to acknowledge she was in over her head. TWO MONTHS LATER we were forced to elevate to the sales manager of AmeriSave who assured us he was in it, and assured us it would be a swift fix. He proved to be a complete disappointment who lacked initiative, care, personal investment and empathy. Ultimately, THREE AND HALF months we were ghosted by both.

UPON CONTACTING THE president of AmeriSave who apologized and said don't worry about the $650 bill, but that's all we can do….I disagree. Grateful for his owning the inadequacy of his colleagues, in my opinion, As president of a mortgage company he could do much more. He has access to phone recordings and paper trails. If he possessed any business integrity, he would have first hand ensured we were at minimum - reimbursed for the money we were out for this costly, time intensive process. I have zero respect for this company or it's people. AmeriSave lack integrity, honesty, transparency, communication or principles.I wish I read the reviews before I started. Do yourself a favor, skip to the next lender.

EVERYTHING WAS GOING SMOOTHLY when I applied for a home loan through AmeriSave. The loan officer Joseph Zhou said that we qualify for X amount of loan and that FHA only looks at one year of income. So, we send our two years of tax returns and every document they asked us (e.g., three months of bank statement, profit and loss, transaction history, etc.). He stated that the "underwriters" have examined our case and approved your loan. So, he sent us the preapproval and told us to shop for a house.

After multiple attempts, we got lucky, found a house, and made a bid with a large amount of appraisal waiver and X amount of non-refundable earnest money. The seller accepted our offer (although he had other offers with conventional loans). We went under contract and started signing several documents. We paid the earnest money right away scheduled an inspection (out of pocket) and FHA appraisal. We informed our landlord and paid a fee to cancel the lease agreement, and the landlord started to look for other tenants. We told everyone the good news and started packing. Not to forget to mention that the FHA appraisal report required the deck to be repaired by the seller, and the seller magnanimously agreed to fix it immediately since he was also planning to move in less than two weeks.

Then came THE PHONE CALL from our loan officer two weeks before the closing date. He mentioned that the "underwriters" are saying that 2020 income is low and needs a co-signer. I was not sure how to respond. He specifically mentioned through a text message that we are only looking at 2021 income, which is why you are qualified for X amount of loan. Now, he is saying that FHA guidelines are to look for two years of income.

My wife was devastated. I was not sure who to blame but decided to blame myself for trusting the loan officer (Joseph Zhou) and the underwriters' lack of professionalism. We felt that AmeriSave had robbed our time, energy, and joy. Now, we have to beg people to co-sign for us or plead with the landlord to reconsider our lease. What would you do in this scenario?

Everyone who I ever work with at AmeriSave is always so pleasant! I would def recommend them to anyone who is asking.

Both Bryan and Clayton have been very responsive and very quick about the whole process and answering any of my questions.

They sound good up front but once they take your $500 they are no help all automated and they don't do what they say they will do

This company said that the property was not warranted by Freddie Mac which is a complete lie. No trust

Excellent people to deal with - don't be afraid of using them online. They are amazing. Request Rebekah and Marc

Definitely need to add a zero rating review choice, as it pains me to check 1 star! Started a re-fi application in February to access equity. First clue - AVOID ANYONE asking for a non-refundable $500 "application fee". The loan originator (initial contact) was very pleasant. Then it switches to a loan processor- in my case Josefina Morales - with ZERO communication, wouldn't answer repeated emails and pleading messages via phone. Calls to customer service and department managers to express concerns, very rude, dismissive, no response or follow up. I am in my 60s with excellent credit. This experience was a nightmare like i have never experienced with any lender! After 3 MONTHS of frustrated torment, I went with another lender after waiting 3 months and then Amerisave "held hostage" my appraisal I had paid for, making me pay another $500+ to have appraisal transferred. Meanwhile interest rates were climbing, so even with a new lender, the loss of time with Amerisave cost me several interestpoints in addition to $1000+ bogus fees. I PRAY FOR YOU - STAY AWAY FROM AMERISAVE!

A mortgage company's reputation is based upon ALL employees who handle a loan, including their subcontractors. You pay them the ridiculous fees charged to know their jobs. Sadly, the loan processor in my account dropped the ball so bad that my review of Amerisave cancels out really good work done by the loan agent.

Multiple mistakes were made involving the official approved status on my loan that kept changing (even with excellent credit and a secure pension), a closing date that had to be cancelled at the last minute due to deficient documentation, another closing date jeopardized due to the same issue, and incorrect answers to very specific questions about how cash-out payoffs would be handled. All of this caused more inconvenience and frustration than the average customer should have to endure with the mortgage industry. I detailed all of these issues with the Amerisave Customer Satisfaction Department in an effort to help them address some internal problems for future customers, but never received a single reply.

While I was finally able to get my home refinanced and babysat all those details after the closing that should normally be seamless, I just can't recommend Amerisave to anyone. All businesses make mistakes. The difference between the good ones and bad ones are how those companies acknowledge the problem(s) and then learn from them. I have no reasonable expectation that Amerisave has done either.

NOTE: If you happen to be reading this BEFORE your cash-out home refinancing loan closes, your payments to creditors (not your old mortgage) WILL NOT be wired to them regardless of what anyone at Amerisave states. Solidifi is the title company used and they actually overnight a check made out for a creditor(s) to the borrower, who then has to quickly resend it all over again. (Microscope required to read this disclaimer on one of the many forms signed at the closing.) A simple overnight envelope delivery is over $60 now! Ridiculous and wasteful, especially when I specifically asked Amerisave in writing how such payments would be handled and told otherwise. A customer who is not paying attention here could loose allot on interest and late payment fees.

Hyme & Mattie,

We have not heard from you and we are just about ready to pull the plug on Amerisave, cut our SIGNIFICANT losses, and move on. The thought of this dragging on any longer is deeply upsetting to us.

To review, we have a large amount of money tied up in our checking account that is doing nothing, and that we have been directed by you to keep locked up there; we have the IRS chasing me now for the lien amount (which was completely dormant until we "unfroze it" to suit Amerisave); our valued-vendors (plumbers, electricians, carpenters, HVAC technicians) are ready to write us off as a bad joke and untrustworthy; we now owe our hard-money lender, Jeff Garvin, an additional $2500 to renew our loan for a second year, thanks to Amerisave's incredibly protracted "approval process"…in short, Amerisave has been a disaster for us, both emotionally and financially.

Can you think of one credible reason why we should not quit right now, and find another lender? Please let us know today: if you can not guarantee us an approved loan by the end of the day on Friday, we will pull the plug and take it up again on Monday with some other lender. We are now well into our fifth month of this process.

Both Janie and I have had mortgage loans and refinances approved in the past, and we have seen NOTHING, and I do mean NOTHING, like this.

We will, of course, in that case, need our $500 deposit, or whatever it was, back from Amerisave, so we can put it to some useful purpose.

With deep regret for our choice of Amerisave,

Sincerely,

Steven Salemi & Jane Ruge

No way they deserve a good review. Everyone I've read is 1 star yet they say A+ with bbb. No way stear clear trust me

We started Our Loan search in January 2021. We were offered the loan rates as lowest 2.5 %. We were working with Brandon Alexander from AmeriSave. You would think that this company is a big company that you can trust. BE CAREFULLLLL. First they said that they locked the interest rate all we have to do is send some documents showing our income. After two months sending them information that has nothing to do with our income -like asking for our business invoices?
We get W2 - we get paychecks? So this should be enough.
Then the whole game begins with their lies- After two months they tell you that the interest rate went up and you have to pay the difference buying interest rate.
I asked to speak with a manager -It took him two weeks to finally call me back and he said sorry we do not lock your loan until to sign the papers Closing Disclosure. I asked for concession and he said I will try. Let me see what I can do. Just so you know his name is Matt Schneid. Then you never hear back from him only Brandon your loan officer who is sending you email - Here is your $4395 concession but was never on our Loan Disclosure- Yesterday 03-25-21 was our Closing Disclosure and guess what they didn't include the concession in my loan.
Then Brandon sent me email saying that sorry but it went up again $4000
So I tried calling Brandon and Matt all day. No answer?
I emailed them what is going on and their response is We raised the loan amount not to have require at closing. That took over 60% LTV and cause the cost to rise.
Ok so my loan was $391.750 including all closing cost and you guys raised to $395.400? Because the rates changed again?

Please everyone learn from our experience. Do not trust their word and if you think because they sent you email with fully approval loan - Think twice and read your Closing Disclosure.
The loan officer who came to our house asked us please check the numbers -Because she knows what this company does AmeriSave.
We will pass to all our friends and costumers about our experience.
We will pass - We lost a great interest rate opportunity.
Sad but I will learn from Our mistake. Please learn from mine

You can't leave a review on their website even after being a customer for a couple of years. Isn't that weird? I've had mortgages through Chase and several other places. Never have I ever had a notice that informed me of an escrow shortage, receive my payment to cover the shortage, but still raise my payment for 40 more than my costs increased for the year.? So, I sent 1400 to them for a 1067 shortage, just to be certain I didn't pay interest on the escrow money. My payment would go up 300 per month for a year to cover the 66 per month increase.? So I sent more than enough to cover the shortage, my payment should stay the same. They are still taking 187 per month for the escrow, so the 1400 I added to that is 116. Per month on top of that. Now I am still paying an increase of 110 per month? So 187 was enough last year. 116 per month extra paid up front and 110 per month is for? Because they can? I have a low fixed interest rate. The payment should go up so drastically unless there are hidden fees. I was sent a letter obviously meant to confuse me. Telling when they had to pay what and why. It was absolute CRAP! The fact is the amount of 66 per month has cost me 240 per month. The explanation is, "You just don't understand how we apply the funds". Obviously I don't. It is total BS and I'm filing complaints with the Consumer Finance Protection Agency and several others who they hand cases like this to when the answer is such obvious BS. I will find another lender as soon as I can, but I would not EVER recommend you climb in bed with this bunch of snakes. I realize that suddenly the banks charge more than the mob did in interest in the 80's and they feel fine about themselves. But Chase has never in 24 years done this. They sent me a notice of the increase in my taxes and ins. This year on my other home and I sent them 600. My payment WENT DOWN! Explain that one Amerisave! They act like they are the cream and you are so lucky to have them around. No, don't buy it. They are money grubbing $#*!s that act like you're stupid if you don't just say, "Oh, OK". That's what they are counting on! There is no such mystery in the math. Plenty of these types of businesses rely on you not trying to understand your payments. They will send you confusing information about when they "dispersed" this or that and they will add in other things about how this year you owe more and we will send it on this date. Whatever! It is nothing but a myth! It's the same as those retirement programs that make up all kinds of mystical accounting and make up names for charges and then hide all their underhanded crap and make you think you are just never going to be able to really get the low down on this without just trusting them... yeah! The mystery is how stupid they seem to think people are! BEWARE!

My AmeriSave Complaint:
I wanted to refi my 1st only and leave heloc open as it is estranged husband's debt. I specifically asked prospective lenders if they are willing to subordinate the loan with the holder of the 2nd. I even asked if there was a situation where they would not subordinate. They only said "it just depends on the other bank's policy regarding subordination."
The loan-to value ratio is an incredibly low 16.7%! My credit rating is 780. After three weeks of the most rigorous document demand of any closing I've ever been through (including 3 business property closings) they denied me because the heloc had a pre-payment penalty. They won't subordinate when there is a pre-payment penalty. They conveniently forgot to tell me that when I *very specifically* asked about subordination and what would prevent subordination.
Two bankers at Wells Fargo told me AmeriSave never even *requested* subordination, only *payoff* information. Secondly, I'm in the 2nd year of the heloc and the pre-payment is a whopping $500 at this point. And besides, *I was not going to prepay*
Can you say *smoke screen* *only interested in the up-front fee*? Plus they recently lost a lawsuit regarding other misrepresentations. Beware! If already in process get a Buyer's closing attorney and owner's title insurance to protect yourself at the very least!
BBB Complaints (despite questionable "Grade")
According to the Better Business Bureau, Amerisave mortgage had 145 complaints filed during the past 36 months and only 57 of them were resolved in twelve months. Searching Google for Amerisave mortgage complaints reveals 684 listings, which could be worth your time in reading.

I recommend Amerisave highly for home financing. They are professional and timely.

Non stop bull$#*! for 6 months. The requirements changed on a daily basis. I want my $500 back!