After almost 6 long months, I finally completed my refinance with Amerisave. As many have already complained, I was delayed time and time again over many nit-picky items that just seemed to resurface after many months.
So if you are reading this and it's been 3 or 4 months since you've locked in your rate and started the process, have hope. If you provide the documents that they request in a timely fashion (i.e. less than 48 hours) and have lots of patience, then you just may complete your financing. I was pleasantly surprised that Amerisave stepped up and completed my mortgage at great cost to them (since rates moved up).
If you haven't picked a financial institution yet to refinance your mortgage, then just know that if you choose Amerisave, you may end up stuck like many of us and get delay after delay. Amerisave may have a very competitive rate, but it may be at the expense of your refinancing process lasting months instead of just weeks. It would appear to me that my application kept getting delayed when reviewed by underwriting. My processor was very helpful and communicative during each delay but unable to get a faster response from underwriting.
My only suggestion is that if you have a relatively simple application, then there may be fewer delays for you. If you are financing a purchase, then I would look elsewhere. Find an institution that can guarantee a quick close. Amerisave is probably not that place.
In the end, if I could have done it all over again, I would have chosen another lender. The hassle, work and time involved were just not worth the lower rate.
Product or Service Mentioned: Amerisave Mortgage Refinance.
Reason of review: Order processing issue.
I liked: When it was finally over.
I didn't like: Lots of delays.