Occasional Contributor

I'm a 30 plus year member and unfornutaly I let brand loyalty cloud my judgement.  USAA home equity loan processing, underwriting and funding is absolutely the WORST service I have ever experienced from any lender.  I was assured a closing on August 19th, closing missed.  Closed on August 28th, at a cost of $65 for a public notary.  Contacted a week later and advised that there was a computer glitch with some of the documents and we will have to do another closing on September 2nd.  This closing cost me a additional $75  for a second notary public.  USAA received the loan documents on September 3rd at 8:29 AM according to FedEX and it is now September 9th at 6:12 PM and my loan still has not been funded.  I have now missed a important deadline that is going to cost me several thousand dollars due to incompetence and there is a potential for further financial loss.  Of course, I don't expect USAA to do anything to rectify the issue other than some unwanted lip service.

 

I would not recomend USAA for any home mortgage products until they get a handle on their quality control.  The processing for my loan has been nothing short of abysmal.  While the cost of the product was attractive, it has now cost me so much money that there is no longer any benefit.  

 

I should have paid heed to the other negative posts!

 

 

5 REPLIES

Highlighted

Goat Rope,

I am so sorry we have missed your closure timeline not once, but twice. This is not the experience we want you to have with our Mortgage services. I have escalated your situation and a mortgage specialist will be reaching out to you shortly. Thank you for taking time to post in the community and please keep us updated on your situation.

Highlighted
Thank you
Highlighted
It's 7:34 PM EST on Wednesday 9/10/14. USAA has now had my closing documents for 6 business days and my home equity loan has not been funded. I sent a email earlier today to one of the loan processors that I had dealt with. By the way she was very helpful earlier in the process. Also in the exchange above I was informed that my situation was escalated and I would be contacted shortly. A mere 8 hours later CRICKETS. Very disappointed in the lack of communication and follow up.
Highlighted

This morning I did receive a email explaining the situation.  I'm not happy about it, but it is outside of my control and the IT team is working to resolve it.  I also received a call from Alodi who is a member advocate to the CEO's office.  She took my information, was very pleasant and appoligetic for the delay.  Hopeful for a quick resolution and positive movement for my situation.

Highlighted

Goat Rope,

Thank you for keeping us updated. I am glad you are in contact with Alodi. Please keep us posted on how things are going and if there is anything else we can help you with.