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USAA did not even have the courtesy to inform us that our mortgage had been sold to a very questionable and poorly rated 'company' called Mr. Cooper....What appalling abyss has USAA fallen into? This is not only insulting but a reflection of the demise of what used to be a wonderful banking institution. USAA, you have failed us, all of us, from the extensive blogs I have been reading of endless complaints, inefficiencies, disappointments and frustrated faithful members. You have lost the loyalty and respect of the vast majority of us, who have trusted you for decades (since 1983, for us). What a sham you have become. Those 25 Army officers, who, in 1922, founded your banking institution, must be turning in their graves....you have destroyed their values and vision.
Hello. USAA's executive management team made the decision to sell mortgage servicing rights on all new and existing loans which is a common practice across the mortgage industry. This decision is part of USAA’s ongoing effort to refine business operations to better serve our members and help make our products more competitive for our membership. By selling mortgage servicing rights on our new and existing mortgages, it allows us to do that. Additionally, having this capability allows USAA to better manage risk and the size of our servicing portfolio which in turn helps make our products more competitive. I understand that this is something newer for our membership and we thank you for your understanding. You should have received a Goodbye Letter in the mail from Nationstar Mortgage which provides information about your mortgage loan being transferred to Mr. Cooper and also contains information regarding Frequently Asked Questions (Q&A document). Unfortunately USAA does not have a copy of the Goodbye Letter since it came directly from your sub-servicer, Nationstar Mortgage. If you did not receive it, please contact Nationstar Mortgage at 855-430-8489 and they can provide a duplicate copy for your records. If you have any questions about your mortgage loan, please contact your new mortgage servicer, Mr. Cooper at 877-289-0500. You're a valued member and I hope you have a blessed weekend.
"USAA's executive management team made the decision to sell mortgage servicing rights on all new and existing loans which is a common practice across the mortgage industry"
Very true. Good job being a normal bank.
Now go back and look at your identity. You have members and have been successful because you are better than a normal bank. In your response, you literally summed up why USAA is failing to gain and retain members like it used to. Maybe someone on the executive management team needs to do some research on what made USAA a great company and circle back.
What a clinical business answer from a bunch of bankers who never served a day in their life. Just check out the board bios. The new USAA. MemberAZ is spot on.
You're a valued member and I hope you have a .... weekend.
What a total load of hooey response. Not even close to addressing the complaint
And leave the religion out of it (as I did).
@memberAZ, Amazing how many complaints there are on the consumer affairs website, Wallethub and BBB. A CSR rep will reply with the usual--We are saddened to read your post. I will certainly escalate this to be reviewed by the appropriate area. In other words, another abyss. Someone might call you to offer their condolences--and report case closed. Unfortunately, that's customer service these days at this once great company. Good luck and Best wishes.
USAA CSR: No need to escalate.