I had a terrible experience with refinancing my house with Amerisave.

Both my husband and I have total annual income over $300, 000, with credit score over 760, and we wanted to refinace our house with 520k of loan. We had experincing of purchasing two houses and refinance a few times before, and we had never any problems. Since Amerisave offered good rates, and on their website published many good customer feedback, we thought we have a relatively simply case so it is worthwise to try to refinance with an online lender.

I started the online application. Whatever they put on line, they give you an impression that the rate can be locked immediately, but they asked for many documents at the end which they did not even mentioned at the beginning, the lock of rate was impossible. Even after I faxed them everything the second day, it took them more than 2 days to lock the rate for me. Fortunately the rate was dropping in those two days, but what if the rate had gone up?

Then I waited another week or two to be assinged a loan processor. Before that the loan officer I had been dealing with had asked for all the documents which I had emailed them, and repeatedly asked for the confirmation of receiving those docs. But by the time the loan processor taking over the case, many docs were missing. I had to resend many docs again to the lona processor. It was very frustrating to be asked to send the docs, but then they lose them, and I had to resend.

Then it kept sending me email saying "final condition - please send xxxxx". After I sent it to them, something else popped up...Amerisave finally denied my mortage after I provided everything they were asking for, after I spent tremendous time providing them the same docs a few times.

At one point, the loan office told me, "if you are willing to pay 2-3000 dollars, we can still close the loan". The loan he originally offered and locked me had more than 6000 dollars credit toward closing cost. I said that means I have lost almost 8000 to 9000 dollars, and would not do it.

It is a strange company. How can they survive with this kind of operating philosophy? trying to break their own promise? The loan officer I worked with is very mean, rude, incompetent...