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Contributor

I hve to share a horrible experience my husband and I are having with the USAA Mortgage Services. We are trying to re-finance our townhome. We began the process on June 8 2014. At first everything went quickly. We submitted all the requested paperwork, received all of our rate options and locked in a rate on July 15, 2014. After two weeks we hadn't heard anything so we placed a call to our processor. He called back and left both my husband and I voicemails that everything was done, he didn't need any further documents from us, and we were scheduled to close the week of August 4-8, 2014. He also said unless we had any further questions, there was no need to call him back. On August 6 2014 my husband received a call from our processor stating we needed to have our HOA complete a Condo Questionnaire. My husband asked why we had not been asked for this document when we locked in our rate but was only told they needed to have it. Our HOA was kind enough to put a rush on it and emailed it to our processor the next day, August 7 2014. When this past Wednesday the 13th came, we had not heard any response from our processor. My husband tried to contact him only to find he was out of the office until Monday August 18! This is a serious problem as our rate expired yesterday the 14th. We contacted his supervisor and left her messages on Wednesday and again yesterday but we have had no response from her either. I spoke to someone in customer servie yesterday and explained our problem. She told me that the condo quesitonnaire was never submitted for review and that we would not be closing before the rate expired. She then informed me that we would now need to get a 15 day extension at a cost TO US of an additonal .125% on the rate. THE DELAY WAS NOT OUR FAULT. There is no way we should be penalized for the ineffectivemess of our processor. The CS person said she would escalate the issue to the department manager, Brett Butler, by email. He has not contacted us yet either. My husband called him directly a few hours ago but we still haven't had a response. Now our loan details show the increase in rate for the extension penalty WHICH WE DID NOT AGREE TOO. How do we get someone to call us and fix this??? CS cannot help at this point but no one in a supervisory capacity will answer or return our calls. This is an absolutely terrible experience so far and at this point we may have to start all over with another lender which we really do not want to have to do. I DO NOT recommend USAA Mortgage Services to anyone.

18 REPLIES

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You are not the only one who has had this problem with USAA. Good friend of mine had this almost identical problem, they ended up going through another bank
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cheer to them.. USAA has become just another bank.. the glitzy million dollar ads are for the general populace.. the vets know better

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Maybe it's just me. I mortgaged through USAA in 1976; 2001; 2003; 2008 and refinanced in 2011. I have never had a problem with USAA. I can't say as much for Quicken or for 21st century mortgage appraisers who have no idea how to do their job.

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2 Months 2 refinance? It's quicker 2 get a new loan.Dont they have Escrow in your state to protect the transaction in your state? Even if not they stand to lose tens of thousands if you walk away and go somewhere else get a better rate and probably close in 14 days. But regardless 2 months no follow up calls on huge a transaction & them raise the rate sounds like the banks everyone can't stand.I see other comments on this board about no call backs from loan mortgage section. Sad to see as bank grows services are continually suffering is anyone listening anymore I wonder.

I thought I'd give an update since my husband finally heard back from the dept. manager. What we know for now is that the rate extension penalty has been waived (which does show in our loan details now) and Mr. Butler will be handling our application personally. He also told my husband that we should close this coming week. He will call us again on Monday with more details. We're assuming this is because he wants to talk to our original processor to find out what happened. What we know so far is our original processor went on vacation, did not inform us ahead of time, and did not submit our condo questionnaire for review before he left the office. We also were told that his supervisor had ALSO been out of the office with a sick child. Oy... Well at least we'll be able to keep everything we were promised without having to start over again somewhere else. My husband did do some shopping around and wasn't able to find a comparable rate.

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At USAA, they haven't learned the most basic premise of being amulti-service bank.. you have to treat the customer as an entire customer.. especially if they have bank accts, insurance, credit cards and investment accts too.. they dont. they treat you as mortgage customer "xyz".. not USAA member "abc".

They fail at cusomter service 101.. just the opposite of what the new million dollar tv ads promise. Vets truly dont matter at USAA unless you're a retired general that is. Plenty of mortgage competition out there

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yes, they treat us just like mortgage customer "xyz." customer service 101, quicken loan could have better than this. you fill out your information and instant decision based on your credit.  

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Navy Federal Credit Union for anything mortgage... USAA for car insurance and banking.  

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I had terrible experience in getting VA mortgage loan from USAA. I think I went to a wrong place to apply for mortgage. They flatly denied my loan application with no counter offer. I had funds for down payment, descent income, good credit history, etc. I never though USAA mortgage would be like this. Funny thing is, they keep asking me to apply when I call to find status which causes my score go down. I think random people picks up phone and no proper consultation is provided before they submit loan application. It was a big mistake to apply loan through USAA. Now, I have to wait a little while until my scores goes up.