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Contributor
What a surprise. I have been a cheerleader for USAA for 53 years, ever since my first car loan with them. I am now in the process of buying a house to rent to my niece & nephew, and have completed all the contract signings, and found out his morning that USAA is suspending all rental loans as of this morning, including those in process!!! I am now hung out to dry, may lose my earnest money deposit, and am scrambling to find an alternate mortgage source. I simply cannot believe that USAA would renege on their promises with respect to the loan in progress. When I called, the rep was sympathetic, but said it was a corporate decision, "above her pay grade", and there was simply nothing they could do. USAA has always been my "corporate hero", showing that ethics and business sense can co-exist. Always reliable, always helpful, but now apparently unable to continue as before. Another fallen giant. How sad.

2 REPLIES

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Deposited $12.5k and had to wait almost two weeks for funds to be credited to my account. The $12.5k was debited three days from payee account. USAA sat on my for more than a week. I've since opened an account with the local branch of Bank of America.
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HalfCenturyFred,

First, thank you so much for your long time membership. I would like to have someone reach out to you about your rental loan and see if anything can be done. We certainly do not want you to lose faith in us! Please keep us posted of your progress! In addition, if you would like another outlet to share your experience please do not hesitate to use this form.

 

Thank you