Is AmeriSave a banking institution?

AmeriSave is not a banking institution; rather, it is a residential mortgage lender. Established in 2002, AmeriSave Mortgage Corporation specializes in the provision of various home loan products including conventional, FHA, VA, and USDA loans. The company operates mainly through an online platform, allowing borrowers to complete the mortgage application process digitally. Despite its financial services related to home financing, AmeriSave does not offer the wider array of banking services like deposit accounts or personal banking that traditional banks provide.