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After reading hundreds of reviews here and elsewhere on-line, I was convinced that it must just be the sour unhappy people in life that have nothing better to do than complain (with some exceptions of course).

 

Boy was I wrong.

 

It started fairly innocuous with a few little hiccups along the way (mortage processor calling the wrong phone and mailing documents to the wrong address,  no biggie.)

 

Everything seems to be fine, UNTIL, about two weeks ago I emailed my mortgage processor to get an update from the previous week.  She said she would email on Friday, so come Monday morning, I reached out to her.  I, of course, get an automated email in return stating, "I am currently in Home Equity Training beginning on Monday, April 14th til FRIDAY, MAY 16TH.  Cough cough, excuse me?  No phone call, no email, no pigeon, no nothing.

 

So begins the drama.  New processor, after my attorney and I tracked him down after a couple of days, delivers no apologies, just starts asking for documents already received as well as the condo association refilling out documents.  All of this at the 11th hour. 

 

There is blame to go around outside of USAA, but it lies directly on their shoulders.  I am now, in danger, of losing my earnest deposit monies.  USAA has made a stressful situation that much more stressful.  It's disgusting the lack of foresight and clarity that is taking place. 

 

Anyone even considering applying for a mortgage with USAA (and yes, I have excellent credit and purchasing a condo that is well within my price range, putting 20% down, etc.) run for the hills.  I have no doubt that there are occasional success stories, but after reading all of the negative reviews, and my experience, it isn't worth the potential trouble. 

24 REPLIES

Dear Terribly Dissapointe,

I am very sorry to hear of your recent experience with us. While I cannot change what has already happened, we would like a second chance to see if there is anything we can do to help you. If you would like, you can complete this form. We look forward to hearing from you.

Heard that before. Our refi went much the same way. Disaster and we lost $300. I feel like everything else with USAA is so spot-on and then they decided to hire a bunch of semi-professionals and frauds to run their mortgage department. If the OP is still reading, don't give them a second chance to take your money! 

As a follow up. My processor informed me Friday (May 2nd) that Fannie Mae deemed the condo project ineligible. Almost three months into the ordeal, USAA has told me that a condo I have been trying to finance through USAA in actually not even eligible.

What's really eerie is that it almost seems as though the "new" processor was sent in to kill the loan.

Also, the so called training that my old processor was allegedly attending was a lie, she actually took a job elsewhere within USAA.

Moreover, evidently USAA knew quite some time ago that there was an issue with the condo questionnaire and budget info and didn't bother to tell me that they had internally already disapproved it but were going to send it to Fannie Mae just to make sure.

So, I am out attorney fees (likely $1500+, appraisal $500, inspection, etc etc. And oh, they can't even supply be a denial letter after 5 days so I can give to my attorney so she can forward to the sellers attorney who have already filed a time of essence against me stating they are going to attempt to keep my earnest money (15k). And USAA won't even return my $300 investment with them to go through with the loan.

Sickening. Disgusting. Etc, etc, etc. I won't even use the whole "my family for generations has been part of the armed forces and members at USAA since 1980." No bank should do this to anybody. And all they can say is "sorry"!

Terribly Disappointed,

We can certainly understand your frustration with the situation and apologize for the experience thus far. We do value your membership and your concerns. Please allow us the opportunity to get you in contact with a senior representative within our mortgage team to ensure all available options are being looked at for your situation. Email us your member number and information to [expired email]. We hope to hear from you soon.

Well now I beginning to regret changing over to USAA. I did so to have all my checking,savings, insurance and home mortgage in one place. after reading all these issues on the website sounds like the mostgage dept is inept and lackadaical. It makes me think.

JD ENDSLEY,

We never want you to question our dedication to ensuring you get the best service. If you have any qualms, questions or concerns we would love to hear them. If you have any issues please do not hesitate to call (1-800-531-8722) or email us at [Removed Link]Please include your member number and your concerns. Thank you

Hopefully I won't have to retract this, but we are in the middle of buying a house long distance and USAA and their mortgage department have been fantastic thus far! Besides setting us up with an awesome realtor, they were in touch with me the morning we returned home from negotiating a house before I even had a chance to call them. From the pre-qualification process on, I really can only give USAA kudos. I have had renters, auto, and home insurance with them since I was 20 years old as a daughter of a veteran.  I am now married to a veteran as well. My husband also has a great life insurance policy  that was unmatched with any other institution.  We are in the process of transferring all of our checking and savings accounts to them. Their utility bundling services are much less expensive and the exact same well known companies that I attempted to arrange on my own. Additionally, they offer appliance deals through many major outlests to furnish our new house at great prices.

 

I have spent quite a bit of time on the phone with USAA in the past few months as we anticipated this life changing move. I have gotten absoutely incredible customer service every single time, without exception.  As an example, we spent nearly an hour on the phone with a home insurance specialist as we evaluated one of the homes that made our final list.  They were able to give us a home owner's insurance quote with details about things I didn't even consider that helped finalize our decision against this particular house. The quote on the house we actually chose is much better than any local or major competing offers and provides much better coverage.  I have only used my renter's insurance once about 15 years ago, and have had to use our auto insurance minimally but it has been smooth and seamless, and almost pleasant,  everytime.

 

While we have had also had great service from PenFed, especially with previous car loans,  as well as a local bank with our current mortgage,  USAA has far exceeded their availability and customer service. This mortgage we are involved with now is our first use of our VA loan.  This is the first time I have not comparison shopped against PenFed due to the outstanding attention I have received with every contact point throughout the process. 

 

Again, we are scheduled to close in mid-June but I would be surprised and quite disappointed if I didn't continue to receive the dedicated service I have become accustomed to in the last few months.

 

Endsley     Ok Check it out.  I had a terrible experience with USAA with my mortgage such that I lost the 350 dollars and had to get to another lender at the 11th hour.  So far, no one has helped me with this.  But I wanted to write and tell you that everything else at USAA is good - - banking, auto ,etc.  I always have nice people talk to me everywhere else.  So,  Don't throw the baby out with the bathwater.  You get free ATMs everywhere.  Computer stuff is good.  They give you some premiums back most years.  But stay away from the mortgage side - it is the mysterious evil seed that you cannot afford to deal with .  (And watch how much they raise your house insurance rates)  Hope this helped.       

Your statement:  "We can certainly understand your frustration with the situation and apologize for the experience thus far"  is just talk.  Nothing has changed.  To save USAA, get out of the Mortgage Business.  No one has any intention to correct the major problems that is part of the cultural of the USAA Mortgage Department.