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
- 519 total complaints in the last 3 years.
- 151 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:06/16/2025
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 applied for a loan in March and my processor ***** ******* kept prolonging the process over several weeks then denied the application I needed to have over 5500 in a account an 500 to start tht I was to receive back if application was denied. She denied the application in May an now no one answer any number affiliated with the company an I haven't received my money back .
Business Response
Date: 06/25/2025
AmeriSave Mortgage Corporation (“AmeriSave”)
appreciates this matter being brought to its attention and the opportunity to
respond. In researching the consumer’s
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 AmeriSave’s 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 consumer’s electronically signed Lock
and Shop Fee Agreement reflecting the consumer’s agreement with the terms and
conditions may be provided if necessary.
As a courtesy, the $500 Lock and Shop Fee was refunded
on 6/16/2025 to the credit card initially charged. AmeriSave regrets any inconvenience to the
consumer and trusts this matter is resolved satisfactorily.Initial Complaint
Date:06/13/2025
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've been trying to get a hold of someone that could tell me how much equity I have in my home. I was told to do it myself online or been given the run around by different representative. Apparently the refinance loan office was supposed to help me but she claims that she can't access my information in oder to tell me how much I currently have. My home is currently on a modification and I feel that they are going to reduce what i have paid before and not give me credit for that. I was told that the modification could affect it but i don't see why it should when on my previous home i had never had this issue with the old lender.Business Response
Date: 06/30/2025
Dear ***** *******:
Thank you for the opportunity to respond to the concerns you recently submitted through the Better Business Bureau (BBB), which we received on June 13, ******* your correspondence, you stated that you have been trying to contact someone who can tell you how much equity you have in your home. You stated that the representative in the ********************** could not locate your loan.Additionally, you stated that you completed a modification and are concerned that this will affect your home's equity. We have reviewed your concerns, and our response is indicated below.
The equity in your home is determined by subtracting the total amount owed on your home, including mortgages and other liens, from its current market value. Your current market value is typically determined by completing a home appraisal.For more information concerning this process, please contact our *************** by calling ************** or visiting **************************.
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. 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).Initial Complaint
Date:06/10/2025
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.
This company is not honoring a locked in rate contract. They are using predator tactics to increase loan rate. In addition, there customer service attitude changed dramatically once I notified them that I am a disabled senior citizen. I believe discrimination is involved. I spent many many hours on this loan process and results ended with being hung up on. I honestly feel they didn't want to honor their AmeriSave contract of loan rate locked. I do not recommend this scam practice and do not recommend this highly unethical company... There too many other choices available for a loans. I highly encourage potential customers to find a different company other than AmeriSave. How they sleep at night is beyond me.Business Response
Date: 06/27/2025
AmeriSave Mortgage Corporation (AmeriSave)appreciates this matter being brought to its attention and the opportunity to respond. In researching 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 Loan Originator (LO) did not set the proper expectation for the consumer that they needed to talk with a licensed professional to lock the rate.
The consumer paid the Lock Fee of their own accord on 6/6/2025, but the rate was not locked until the consumer spoke with a Sales Manager on 6/10/2025. Unfortunately, the rate offered on 6/6/2025 was no longer available on 6/10/2025.
Due to above, AmeriSave will refund the $500 application fee to the credit card initially charged. AmeriSave apologizes for any inconvenience to the consumer and trusts this matter is resolved satisfactorily.Customer Answer
Date: 06/27/2025
Complaint: 23450068
I am rejecting this response because: I paid the lock rate amount required on their website. Because their internal policy doesn't accept this doesn't mean I wasn't within the good faith reality. It was accepted on their own website. *****, a contract was established. AmeriServe then rebuffed when the rates went higher... I believe they operated in a bait and switch program against a disabled senior citizen and racially profiled against my native American background... I did everything they required, yet, the pull the rug out when they had the opportunity to make more money... I had establish said contract accepted on their own website for the above mentioned locked rate amount.
Sincerely,
***** *******Business Response
Date: 07/08/2025
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, communication records and call recordings.
Further research by AmeriSave's accounting department determined that no monies were collected from the consumer, and that only an authorization for the $500 amount occurred. The lock fee was not charged until the rate is lock. While rates were discussed on 6/6/2025, the rate was not ready to be locked until 6/10/2025. As rates can fluctuate daily, the rates discussed on 6/6/2025 were no longer available. The consumer was not satisfied with the rates available on 6/10/2025, so the rate was never locked, and the fee was never charged or collected from the borrower.
********** does not discriminate on the basis of, but not limited to, race, ***, age, ethnicity, national origin, nor any other prohibited basis, and takes its fair lending obligations very seriously. AmeriSave apologizes for any inconvenience to the consumer and confusion regarding the lock fee.
Customer Answer
Date: 07/09/2025
Complaint: 23450068
I am rejecting this response because: they broke the contract that was completed on their own website, so they could charge additional money. This type of business practice is unacceptable and actually illegal. They are a fraudulent organization and people need to be aware of this organization.
Sincerely,
***** *******Initial Complaint
Date:06/08/2025
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 am a 86 old veteran and retired businessman, I had been applying for a home loan based on my veteran status. I was contacted through Amerisave concerning my interest in a loan which I was under the impression this loan company was connected/partnered with veteran services which it was not. I provided a lot of information and when my wife came home I told her what I was going and asked her to finish since I have a hard time hearing even with the hearing aides. As she was providing information the *** asked for a $500 deposit. At no time was I told the $500 was not refundable. During the process the underwriter kept pressing for us to sign disclosures which we hadnt done, I needed to read and understand first. During this process my grandson, who lives with us got into an auto accident and my health was not going well and we were both getting harassed to finish the application so I decided the loan was not a priority and needed to focus on these other issues. When my wife communicated my decision she was told the $500 deposit was non-refundable as we signed the disclosures in the portal acknowledging this fact. Well we did not signed the disclosures. Than we were told that this information was provided during the call, the call was on speaker and this was not explained, what was said during the *** urging us to provide the credit card info was that this was be given back to us. The kept harassing my wife on her cell and text while she was at work telling her if she did not complete the tasks she would lose the $500. I do have this communication on text messages. Im 86 years old, I believe we were lied to, misled and harassed and now lost $500 on my fixed income as my wife and my incomes are separate.Business Response
Date: 06/20/2025
AmeriSave Mortgage Corporation (“AmeriSave”)
appreciates this matter being brought to its attention and the opportunity to
respond. In researching the consumer’s
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 AmeriSave’s 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 consumer’s electronically signed Lock
and Shop Fee Agreement reflecting the consumer’s agreement with the terms and
conditions may be provided if necessary.
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:06/07/2025
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 own my home with equity in it and wanted to pay off some debts. I was working with a loan officer who went over with me my information, application process, and loan process. Others involved in my loan process was a Mortgage Sales Manager, and a other Loan Processor. I completed an application and provided a $500 deposit as requested. I sent in all documents as requested. Then some time later I was finally contacted by Amerisave that they could not move forward with the loan because I recently purchased my home and needed to make at least 6 months in on time payments and would not be eligible until September. I'm not quite sure why this was not noted in the beginning of the loan process and I was not aware of this term. Now ******** is not able to provide the loan/service I need. I requested a refund of my $500 deposit since Amerisave is not able to process a loan now. I was contacted by the Mortgage Sales Manager who told me my deposit was non-refundable even though they are not providing a service. He also told me he is the ******** leader/manager and there is no manager above him that I can speak to. I am very dissatisfied and feel Amerisave is stealing my money.Business Response
Date: 06/20/2025
AmeriSave Mortgage Corporation (“AmeriSave”)
appreciates this matter being brought to its attention and the opportunity to
respond. In researching the consumer’s
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 AmeriSave’s 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 consumer’s electronically signed Lock
and Shop Fee Agreement reflecting the consumer’s agreement with the terms and
conditions may be provided if necessary.
As a courtesy, the $500 Lock and Shop Fee was refunded
on 6/12/2025 to the credit card initially charged. AmeriSave regrets any inconvenience to the
consumer and trusts this matter is resolved satisfactorily.Initial Complaint
Date:06/05/2025
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.
AmeriSave on the phone said that I didn't qualify for loan base on:**************************************** A. ************* B. House is listed as multi house $500 is to process the loan application. Since I didn't qualify, there was No process being done.***$500 was taken out of my account on 01 May 2025.Business Response
Date: 06/23/2025
AmeriSave Mortgage Corporation (“AmeriSave”)
appreciates this matter being brought to its attention and the opportunity to
respond. In researching the consumer’s
concerns, AmeriSave reviewed the transaction history for the mortgage
application and communication records.
The consumer was advised that the $500 Lock 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 AmeriSave’s Lock 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 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 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 Fee.
AmeriSave or its employees cannot guarantee
approval of your loan application or acceptance into a particular loan program.”
As a courtesy, AmeriSave attempted to refund the $500 Lock
and Shop Fee to the credit card initially charged on 6/17/2025; however, the
refund was unable to be processed. The consumer’s fee should be returned via
chargeback. AmeriSave regrets any inconvenience to the consumer and trusts this
matter is resolved satisfactorily.Initial Complaint
Date:06/03/2025
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 spent 500 to start a loan application for a *****, termed a no lock fee. I entered my credit card info, yet NEVER signed. I did not finish application, yet when asked if company would provide refund, loan *** stated its non refundable. However, in part, I made my decision not to proceed based on stated loan origination costs, which I was unable to view, until after giving business 500. This is poor practice. Customer should have ALL info before nonrefundable fee taken and signatures should be mandatory.Business Response
Date: 06/16/2025
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. The consumer has agreed to continue working with AmeriSave on the loan.
AmeriSave regrets any inconvenience to the consumer and trusts this matter has been resolved.Customer Answer
Date: 06/16/2025
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:06/02/2025
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.
Date of transaction: 05/01/2025 On May 1st, 2025 I applied for a refinance loan with AmeriSave. I paid a $500 lock-in fee to lock-in the Interest rate of *****%. I was told that if my loan were to get declined, I would get a refund, well my loan was declined on 05/28/2025 and now they are refusing to refund my $500. I also wanted to file a complaint and have an investigation open against them due to their lack of communication, and professionalism. The original loan processor that I was assigned to on 05/01/25, ******* *****, just completely stopped all contact/communication with me on 05/08/25 and all the documents and information that was sent to her never got submitted to the loan underwriter. I had to contact the Loan Officer, ****** ******* to let him know of what was going on, and he had to help upload and submit the documents and information I had already sent to the processor. This obviously delayed the loan process and created a lot of miscommunications with the new loan processor because they were unaware what was sent/said/done with the previous loan processor. In the end after having to contact management multiple times, everything was a mess and there were a lot of discrepancies on their part on the application that my loan ended up getting denied. To be honest I am glad the loan was denied because after the experience I went through, I wouldn't recommend anyone to get a loan through them. There service is horrible.Business Response
Date: 06/16/2025
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 will be refunded to the credit card on file within 3 to 5 business days. AmeriSave regrets any inconvenience to the consumer and trusts the consumer will continue to work with employees to close the loan.Customer Answer
Date: 06/17/2025
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:05/30/2025
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.
After receiving unacceptable service ( being ignored and not explaining my loan ), I chose to go with another mortgage company. I lost ****** which I have accepted but to transfer the appraisal along with the *** number, I was told it was ******. They charged me ******. I spoke to the appraiser, *** *****, he said his fee is ****** plus ****** to do a follow up. I have called Amerisave and the appraisal company for an explanation and no one is responding. No one is explaining anything to me. I am being and never has been.Customer Answer
Date: 06/10/2025
How do I cancel a complaint. The company resolved it today.
Initial Complaint
Date:05/28/2025
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 may 6th, 2025 I contacted Ameri Save Mortgage corporation and spoke to Loan Officer, ****** ****** at ************ about getting a Heloc. She sent me a quote that i would be getting a HELOC for ***** and she needed $500.00 to lock the rate which was refundable if they could not deliver the agreed quote. A couple of weeks went by i submitted all documents requested. Then i was emailed saying that they could not proceed because there was a lien on the property. They wanted me to get a 140k loan instead of the *** agreed. Now they don't want to refund me my lock in fee. They did a bait and switch scam.Business Response
Date: 06/09/2025
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 was a HUD lien on the property in the amount of $100,738 that was required to be paid at closing; when the ** advised the consumer of this matter, the consumer requested to cancel the loan. Although the lien did not appear on the credit report, it was required to be paid and the consumer decided that they did not want to proceed at that time.
AmeriSave regrets any inconvenience to the consumer and trusts this matter is resolved satisfactorily.
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