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Contributor
Has anyone EVER had a good experience with USAA's mortgage and home finance division? I'd like to stay with USAA for my next house purchase, but the last two Home financing attempts/experiences have been so inept, frustrating, & unprofessional that I just am wondering how I am the sole lucky customer that's received this level of service. It is such a surprise considering how high a level of service is provided by each of the other divisions. And don't get me started on their choice of PHH as their mortgage administrative company.

7 REPLIES

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I just had the worst experience I have ever had with USAA and their mortgage dept so I'm sad to say it is not just you.
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Dear GR82BUW and Austin, I have escalated both of your comments to our mortgage department for further review and a representative will be reaching out to get more information about both of your situations. Thank you both for taking the time to comment here in the community.

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Unfortunately I am dealing with the same issues.  In fact, I just told my wife we better start looking for someone else for our mortgage needs. 

 

You would think a company service the Military, Veterans, and their families would be the best, but I guess not. 

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Raskkasan 187,

I responded to your other post here. Thank you.

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My experiences are mixed

 

I had a positive experience refinancing a mortgage with USAA about 2 years ago..  The house was located in another state and I had enough equity to do a conventional refinance versus a VA refinance.  The process was relaitvely smooth.

 

I am currently working with USAA for a mortgage on a new property.  That experience has been neutral to negative.  It started out well but the closer it gets to closing the more negative it becomes.

 

For example, the mortgage specialist I was assigned was frequently out of the office.  His out of office emails would have the wrong person's name and phone number.  The backup person I was dealing was fairly decent at responding but would not completely answer my questions.

 

Also, it seems when policies benefit USAA they enforce them, but when it doesn't they give you the run around.  For example, I was told when  I started the loan process that even though the new HUD regulations didn't take effect until October, USAA would be implementing the,.  One of the new regulations is borrowers are to receive documents 3 business days before closing.  Today I was told since I started my application prior to 3 Oct, I would receive my closing documents "hours" before closing  (the specialist's words).

 

This is poor customer service and I feel like a bait and switch.  Especially, since I was told this afternoon I would receive the final documents 1 hour prior to closing.  So I have to review the closing documents, go to the bank to wire funds, and make it to the title company in less than an hour.

 

Depending on how closing process goes I may reconsider my use of USAA.  The customer service in regards to new mortgages definitely needs some improvement.

 

For other borrowers, I would recommend USAA for refinancing, but you may want to work with a mortgage broker or a local bank credit/union for a new mortgage.

 

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This mirrors my experience exactly, I've had time to cool of since this experience and I will still use their banking service.  I will never have anything to do with their mortgage division there is really no accountability for their bad service.  They are currently working the grievance I had, but what you are saying is like my checklist of every bad experience I had trying to get a loan processed.   I hope it goes better for you, as consumers we have to work to get others to go somewhere else.  I do hope they see this and understand that you are looking to be heard.  Best of luck

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I used USAA to buy a home back in 2010. Whole process was smooth and no issues, closed on time as well.