USAA mortgage

[sixty one years late]

USAA has the ability to make a simple thing so difficult as to be criminally wrong.

I have just spent over an hour trying to telephone USAA and finally got a Representative that informed me that my mortgage had been transferred to something Called "Mr Cooper" and USAA had no mortgage information.

If anyone is considering a USAA mortgage--DO NOT DO IT--RUN FOR YOUR FINANCIAL LIFE

My mortgage has been in existence for some 31 months. During that time I have made EVERY payment on time and in the proper agreed amount.

USAA has misapplied my payments so that now they list me an $[removed sensitive data] late, several late payment fines, and caused my credit score to go from 830 to about 550.

Trying to discuss this with USAA has been like talking to MT Rushmore-if you hear anything it is an echo.

I will be closing out this mortgage shortly and then all my USAA accounts also.

This will bring my 64 year membership to a close.

[NSueZ]

@ sixty one years late - I highly recommend that you submit a complaint with the BBB as this will result in USAA at least taking some action.  @USAA is correct that you do need to contact NationStar, but USAA does need to remember that these are third party vendors that they picked and as such, USAA should be able and willing to help every member when there is a problem.  Yes there was a huge problem when the servicing of loans were transferred from USAA to Nationstar as loan payments were not correctly reported to the credit bureaus - I know because our family was affected; however, I caught it very early on when I had pulled a credit report.  The downside - it took USAA and Nationstar about 4+ months to acknowledge it and get it fixed.  I had to be very persistent and quite frankly, the team in the President's Office was not too happy with me even hanging up on me once when I would not drop the issue.  I was not the only member affected.  I encourage anyone NOT to ever take out a mortgage with USAA. 

Also I just read that there is a whistleblower suit going on with USAA along with all the fines that USAA has had to pay in the last couple of years.   On the plus side, we sold our house and both our mortgage and HELOC with USAA will be gone, gone, gone.  With our house sold, I can then work on getting new non-USAA insurance.  I just closed our savings account and am working on closing our checking account.  Next will be the credit cards, especially since our daughter had a nightmare experience using her USAA branded cards in London - she was the only person in her group from the University of Chicago teaching staff to have that problem.  USAA denied that it was their cards, but USAA was the only one who did not have chip technology in the cards.  

@USAA - I do not need anyone to contact me.  You have heard my song and dance before, but nothing is changing back to the better.   

[USAA Social Service]

Good morning @sixty one years late. I am sorry to hear you had difficulty reaching us by phone in a timely manner. After your mortgage loan closed, it was transferred to Nationstar Mortgage, "subservicer" who handled the mortgage payments and escrow disbursements. USAA has very limited access to your mortgage loan information after that transfer took place. Have you contacted Nationstar Mortgage at 855-430-8489 about the misapplied payments, late fees, and credit score so they can research to see if any errors were made, and make any necessary corrections, if applicable? Also, if you would like to file a complaint with USAA, please call us at 800-531-8722.

USAA's executive management team made the decision to sell mortgage servicing rights on all new and existing loans so we can focus on serving our members and offering them a broader range of products. Nationstar Mortgage mailed you a Goodbye Letter dated 4/15/2022 which provides information about your mortgage loan being transferred to Mr. Cooper and also contains information regarding Frequently Asked Questions. Soon you should be receiving a welcome packet from Mr. Cooper with more details about your transfer. You will no longer be able to access your mortgage information on the USAA website since your mortgage loan was transferred to Mr. Cooper effective 5/1/2022. In order to access your mortgage loan, you will either need to contact Mr. Cooper directly, or go directly to the Mr. Cooper website. Our executive management team made this decision with the USAA mission and best interests of our membership in mind. The sale of mortgage portfolios to expert servicing companies who specialize in those services is a common industry practice. Moving in this direction ensures that USAA can continue to focus on our core products and services. Aligning with the industry in this way helps USAA maintain our financial strength while remaining competitive. I understand that this is something newer for our membership, just know that we truly have your best interest in mind when making these decisions. If you have any further questions, please contact your new mortgage servicer, Mr. Cooper. 

Please know that USAA values your 64 year membership, and we certainly do not want to see you go. We thank you for trusting USAA with your business and hope you have a blessed day! 

[sysco]

Is this why I can't see my Mortgage balance on website? Was my account transfered too? never received notification. I will call tomorrow but if this is the case, not happy. I could of choosen one of many mortgage companies for my mortgage but wanted to keep it all together with USAA. Seems USAA is oursourcing half the services and the other half they are rasing prices. So sad.... 

[Bigbb]

USAA is not the company it used to be.  Not even close.