Complaint Review: Amerisave

Amerisave would not accept the appraisal they ordered on my home.  It came in at $488,000.  I wanted to refinance my existing loan of $230,000 with no cash back, making the Loan to Value ratio 47%.  They would not accept the appraisal. 

Here are their reasons for failing to accept the appraisal they ordered:
1.  Subject has an accessory unit (studio/office) which the comps do not have
2.  Subject is located on a river which the comps do not have design of the subject is not similar to comps

It sounds like some of these excuses are aspects that add value to the home.  Our river is a gentle stream near the headwaters of the river system.  It is home to trout, otter, heron, and ducks.  It has gently sloping sandy beach and further along, a great diving rock.  We've lived there for 40 years, which included the 100 year flood, which did us no damage, and we carry flood insurance.

I suggested that they could lower the appraisal amount by $100,000 and still have a Loan to Value ratio of 60%.  They wouldn't do this, and denied the loan.  I figure they were just looking for an excuse, because they didn't think they could shop the loan at the advertised rate and still make money.  I consider this to be fraud.