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Contributor

I've been a USAA member for a decade or so.  I've used them for several of my banking and insurance needs, and am very satisfied with the services that USAA provides in those areas.  What I'm not so pleased with is the mortgage group.  This adventure started some weeks back when my wife and I found a house we liked for a price that couldn't be beat.  Because of my previous history in working with USAA, I decided to first go with them to start the process.  I went online and was preapproved easily enough.  I recieved a preapproval letter and began working with a realtor.  The trouble began when we had an offer accepted.  I was contacted by the first loan officer who offered to help with the early stages of the mortgage.  When I reached back out to the officer, I was informed that he would be out of the office for a few days.  A few days later when he was supposed to be back in the office, neither my agent nor I could make contact with him for a few more days after that.  Given the timeliness of several of the contract documents and the timeframe in which we wanted to close, I called the mortgage group and spoke to the first available person.  I explained the situation.  She was helpful and had my mortgage reassigned to her.  A couple of other things were happening with negotiations that changed the contract a little, but I submitted everything that she initially required.  I alerted my agent in the change of USAA contact, and everything seemed to be moving along.  When the sellers and I settled on a new purchase price in light of some items the home inspector found, my agent emailed the documents to both the new and old loan officer to be sure that all the bases were covered.  A day or so after that, I get a call from the original loan officer.  He was confused and wondered why he was included on an email message from my agent to another loan officer.  Do you think he said anything about being out of pocket for so long without returning any emails or messages?  I think there might have been an "oh, sorry about that."  I also gleaned new information from the bewildered loan officer, the new loan officer was out of the office and my mortgage application was now in the hands of a loan processer.  I replied that that was good to know and wanted to know when I would be able to speak with the loan processer  He said that it was standard practice that the day that the mortgage is transferred over to processing that the processer calls the applicant with an introduction and what to expect in the next stages.  This was a Friday.   I got the introductory call the next Wednesday.  The processor needed several more documents (some of which were included in the intial upload to the mortgage application system).  I went ahead and resubmitted them to her in order to keep things moving.  I had to dig for a few things and get them to her, and she informed me that if I didn't hear immediately back don't worry because she would be out of the office for one day next week.  USAA must have a very generous time-away policy.  Also, I thought it was common practice to have someone cover for you while you are out of the office but I must be mistaken.  I guess that only applies in the companies that I'd worked for.  I never realized how bad my office life was until I began dealing with USAA.  While I waited for the processing to get back with me, I touched base with my agent.  Maybe its the nature of the business but she has the uncanny ability to remember names.  She told me she had also been in touch with USAA and rattled off no fewer that four names of people that she spoke with before she got to the name of the loan processor that I was working with.  Surprise - she couldn't reach my loan processer.  I did find it interesting however that of the names she mentioned prior to my loan officer, not one of them was of a person I had dealt with or talked to before.  Even though contact with my loan officer had been sparse, I checked my mortgage approval dashboard daily to see what I needed to do next.  One day I checked and my mortgage disappeared from the dashboard.  I was thinking the worst and attempted to get ahold of the processer, again to no avail.  I left messages and sent emails.  I talked to customer service folks who said that she was in the office and she would be in touch.  She callled back with a laundry list of things that the underwriters needed.  I mentioned that my loan dropped off of the dashboard and it was concerning.  She replied, "oh yeah it does that sometimes."  This again was a Friday.  I worked all weekend to get her the things that the underwriters needed and sent them over with the request to please update me on the status.  Monday when I heard nothing, I called and got her voicemail.  In a strage bit of irony, her voicemail says something along the lines of, "...please leave me a message and I will get back with you by the close of business..."  I heard nothing on Monday.  Tuesday, same drill and same response - none.  Wednesday, with scheduled closing 8 days away, I need to provide income info for my wife even though they supposedly didn't use her income in obtaining the mortgage.  When I mentioned that his might be difficult, I was reminded that closing would likely be pushed back while they decided if it was OK to proceed without it best case.  Worst case would be that they would close the application and I would have to start over.  No pressure.  In the meantime, I'm not sure that an appraisal has been done yet or when it is scheduled to be conducted.  As I write this, we are 7 days from our scheduled close date and I am not very optimistic that we will close on this day (or at all).  In summary, if you are looking for a mortgage and are considering USAA, be prepared for some less-than-ideal communications.  Please do your research.  J.D. Power & Associates assess mortgage customer satisfaction, and Consumer Reports has some good information on banks and mortgages as well.  I believe my post is similar to others on this forum and I wish I would have come across it sooner.  I like how one post says they obtained the number of the Director of Mortgage Services and this is a number I wish I had as well.  I find it interesting that an organization that does so well in so many other product groups can do so poorly with mortgages.  Good luck! 

5 REPLIES

carraway,

 

We regret to hear of your experience with your mortgage process. This is not the type of experience we want for our members to have with their mortgage loans. I have shared your experience with a colleague in the mortgage area in order to review and respond. We look forward to the opportunity to discuss this matter further. -Gus

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I had a similar mortgage loan fiasco last year, and my Lian only closed on time because I literally stayed live with my Lian processor and her manager for over 90 minutes.
My Loan attorney talked to them several times as well, by using my iPhone with me. Both the processor and manager kept saying that they had Other loans to handle besides mine, but I would Not let them hang up.
This is my third and LAST mortgage loan with usaa.
By the way, I am a 41 year member, and no one had called me even once to discuss my loan's Poor closing service.
They told me that day, that I would be receiving a call soon. Not !!
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JimmyMac007,

This is disappointing to hear and we apologize that for the experience you mentioned with your Mortgage.  We aim to provide an exceptional service and I regret to hear this was not the case. We will document your comments and share with our Member Feedback team. Thank you for your membership. ~Celeste.

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Yep,  I was told verbally the loan was denied -- no reason given -- and my mortgage docs disappeared from the dashboard...HMMM -- I am confused..

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RB12,

 

Thank you for posting in the Community. We have addressed your concerns regarding your mortgage experience on a separate post. Please refer to https://communities.usaa.com/t5/Buying-a-Home/Mortgage-Process/m-p/108254#M2547 for our response. Thank you. -Gus