Americash Mortgage

Pros: -Substantial reduction in mortgage payments
-Simple, easy process for the customer
-The consultant (Andy Pasillas) was great
Cons: Nothing of any importance

I used Americash several years ago for an earlier refi, and was very satisfied.  So as interest rates hit record lows, I cold called their 800 number a month ago to inquire about their then current rates and Andy Pasillas picked up the phone.  ...

Pros: None.
Cons: Too many to count.

My wife and I were in the middle of a refinance with another company when we decided to go with Americash. I had sent the loan consultant our terms for refinance by email before moving forward. He then sent us a Good Faith Estimate based on these ...

Pros: Fast, friendly initial response.
Cons: Slow, unresponsive, dishonest.

After initial fast, friendly response, contact became less and less frequent, and the excuses more varied, until finally I was completely ignored (this most likely coincided with the expiration of the rate lock - yeah, the one that had never been ...

Pros: Quick first contact; highly-trained, silky-smooth over Lending Tree others; impressive bait &switch tactics
Cons: Deceptive practices; unprofessional; dishonest, skilled at getting you to pay more than you otherwise should

Americash gave the quickest response to my Lending Tree inquiry and also offered the lowest rate. On 12 Mar 08, Christine Deao, Americash Senior Loan Officer, verbally quoted me 5.99% and emailed me a written Good Faith Estimate (GFE). I was still ...

Pros: None, this company will cheat you.
Cons: None, a totally fraudulent company

Used Lending Tree and Americash made the best offer in the initial percentage rate. They were quick to get me committed, and quoted me an approximate amount of "no more than $1,200 for the total closing costs. After I sent all the requested ...

Pros: Quick to get the ball rolling
Cons: Terrible afterward; Slow response, Bait-and-Switch, Lots of Talk but No Kept Promises

They were extremely quick to get the ball rolling, and to this point they were quite helpful. However, after I had given them all the information and the appraisal was complete, they started to become less and less responsive. The whole process took ...

Pros: Absolutely none!
Cons: Misleading offers. "Locked" rates aren't locked. Patently false statements. Customer non-service.

Americash is a "closing-house": they are in business to close loans, pocket the closing costs, and then immediately sell the loan off to someone else. Americash gets you in their system by offering the lowest rates. But when the actual deal comes, it's not the original deal. The "locked" rate isn't really locked. Americash made statements that were patently false, and when presented with written proof their statements were false, they simply shut down communication. Calls and e-mails to supervisors go unanswered. STAY AWAY FROM AMERICASH!

Pros: Alan Michaelson was excellent to work with. No glitches. Beat the competion's rates.
Cons: None.

I highly recommend Americash. Our Loan Officer was Alan Michaelson. He was professional, courteous, and prompt in responding to questions and keeping everything moving forward !! Our standard refinance of our home loan, with good credit and no irregularities, took only 3 weeks. Americash will beat competitors’ rates if you do your homework and provide Americash the information. We were very reluctant to try refinancing over the Internet, but this was as easy as it could be and a stress free experience.

Pros: Smooth and professional refi
Cons: Some minor paperwork glitches, but no big deal.

We refinanced our condo recently and have no complaints whatsoever with the team that serviced us from Americash.  We didn't have to leave our home in order to complete the entire transaction.  The Account Exec Phil Simon, Sr Loan Officer, was very professional and easy to deal with, replied promptly to questions and was proactive in keeping us up-to-date.  The paperwork was reasonable compared to other refinances that we've done. The appraisal by Derek Steen (AAG) was easily arranged and relatively fair in assigned value (when is an appraisal ever too high!).  Derek appreciated a lot of the custom work that we had done in upgrading our condo. The funding source was easily arranged, and Tanya came to our condo in order to have us sign and notarize all of the final paperwork and she and Tricia arranged for the prompt funding which went through without a hitch. We got a very good rate.

Pros: Full transparency.  Fast and accurate
Cons: none

I came across this company on Lendingtree.com.  From begining to end this company was on the ball.  What impressed me the most, they addressed all negative comments published on this website in a clear and professional manner.  In fact, I dont understand the bait and switch comments.  Americash offered, upfront and in writing a rate lock guarantee.  They entered into a contract up front-signed by the company.  A legal binding agreement upfront that the rate they quoted me would not change, nor would the fee's I was quoted.  I agreed and in thirty or so days, my loan was funded with ZERO issues.  I have since recommended Americash to several friends and they have all have had a similar experience.  THIS COMPANY PUTS IT IN WRITING UP FRONT IN THE FORM OF AN AGREEMENT. THEY PUT THERE MONEY WHERE THERE MOUTH IS.

Pros: Chad Church
Cons: none encountered as we directly worked w/Chad.

We began "shopping" for refinance mortgage end of Dec.08, in early Jan.09 rates jumped a little and we were reluctant to lock in.   Chad Church stayed in daily contact (weekends too) updating us.  One day rates dropped to 4.375 and just as I was getting ready to call to lock, Chad called us!    We truly found him to be professional, upfront, and totally responsive to any questions we had.

We are getting ready to purchase and second vacation home and are bummed Chad only handles refinances!

Pros: Pleasant, quick communication.
Cons: Questionable practices with upfront fees that no other lender requires.

I was referred to this company by LendingTree.com.  They had the best offer.  My initial contact with the lender was via e-mail.  The communications were fast and pleasant.
Then I actually spoke to a representative named Joseph.  He informed me that I had to pay >$500 to "Lock-in" the rate and pay for the appraisal up-front (I had to use their appraiser @$395.00).  The remaining balance would apply to fees.
I mentioned that:
1 - This was the largest fee I had even been quoted for an appraisal.2 - In my 11 years as a homeowner, no lender has ever required an up-front fee to lock in a rate.
Joseph said that this was his company's standard practice and that the fee was reasonable.  He said that I could move ahead without fees, but the rate would not be locked in and would change.
He was nice enough, but I will go with another lender due to these questionable practices.

Pros: Would use them again !!!!!!
Cons: none

I went through Lending Tree Americash was one of three companies that responded. In my notes on Lending Tree stated that I wanted 4.5% 30 year fixed loan. Andy Pasillas stated he would make it happen after 3 weeks the rates hit the mark. And we locked the rate. He was very good to deal with. The other companies told me that I could never get the loan and seemed bugged that I would not move on what I wanted. They would send me email after email with completely different rates. Some of them could not accept no for an answer. I would do another loan with Americash without hesitation. I think anyone can have a bad experience with any company. I have done many loans with other companies and I would have to put Andy Pasillas of Americash in the front of the line for Customer Service and did what he said he would.

Pros: Accurate rate
Accurate closing costs
Flexible and understanding of "hang ups" along the way
Cons: They are really busy now, so stay on top of things

I, like so many reading this, did research before proceeding with a refinance.  Americash offered the best rate with the lowest closing costs, so I decided to pursue.  After reading all of the negative feedback, I called Americash to get an explanation.  The issues posted here speak to a couple of rougue mortgage brokers who were involved in some of the loans you are hearing about on this site.  They have since been fired, and Americash is working to clear their name.

I had an ideal experience with them.  I got the rate they quoted me (even though the loan didn't close in time b/c of a builder/title issue, but they took the hit on the rate float!!).  I received the closing costs from the good faith estimate, and I WOULD USE THEM AGAIN FOR A LOAN.  Despite the negative feedback on this site, I received a logical explanation and was satisfied with my experience.

Pros: Accountability! Who would expect that in todays mortgage industry
Cons: Not in Houston Texas

Americash went the extra mile to make my loan a reality. Hat's off to Chad Church. As the CEO he is hands on and refused to allow this deal to fall apart. I am now prepping to close the loan and it is because there are checks and balances at Americash and the Management puts the customer first! Where else does the CEO call a customer and solicit there assistance in a QA / QI program to improve future service?