So I started my home buying search back in June and locked in a rate of 3.875 in July. I couldn't of been happier. But then there was an issue with the title. Not a big deal until my closing got delayed by it. Then I was informed that the process was taking to long and Usaa was going to cancel my application and I would have to resubmit. Not a big deal. I was then informed that even though the rates were lower I would have to pay a fee to extend my rate or be given worst case financing. Seemed odd but ok. Then we had to extend the rate again because of the tittle. Finally everything was done and resubmitted. This was a great feeling until I got a phone call that said my water and termite inspection had expired and they had to be redone which resulted in another rate extensions and another fee. Fast forward to closing. Now on my closing day I was like a kid on Christmas I couldn't sleep and was Barely holding in my excitement until I got my hud1 form which showed a 4.0 apr and over 1500 dollars in fees. Which is slightly higher then my 3.875 and no fees. So I call and am told that because I withdrew my loan I got worst case financing and had to pay for rate extensions and also pay to lock in my rate. So now I wasn't getting my original rate and paying much more then planned after talking to 3 different people I was basically told this was my fault because I withdrew my original loan. When I explained what had happened and that Usaa canceled my loan I was basically told that's not what my file said and to bad. So a long process turned into a nightmare where Usaa not only changed my rate but then charged me for it. When I explained my displeasure at the situation and asked as a long time loyal usaa member for some help in this I was told no. I explained to all 3 people that from this horrible experience I would start to look for banking else where and would stop doing business with them. I was told ok go ahead. I have never felt so beat down from a business. So fair warning to anyone looking to use usaa home loans mistakes will be made and the only person that will be found at fault is you the consumer. I guess the family image they try to portray is only when it benefits them. So now I will start looking for a new banking and insurance company. Maybe one that actually cares about their customers.
Before taking such drastic measures, we would like to take the opportunity to discuss this with you. I have passed your comments along to our banking team for review. Thank you for your post in Community.
I understand your frustration I've been dealing with a short sale for 8 months now. Reapplied 2 times for a loan because of a system switch and because USAA withdrew my loan because of the title and the VA appraisal report . I'm spending thousand of dollars to stay in hotels because I wasn't able to close on today. I'm hanging in there because I need somewhere for my kids and I to live and its hard because I'm carrying these expenses as a single parent with a senior in high school and a 3 year old. I was told some of the same things you were told as well. The previous loan processor was horrible couldn't contact him and no updates. I'm just praying that I can close sooner than later because I'm struggling paying these hotel bills on my third one now because I don't have family here.
Thank you for taking the time to post. I have sent your comments over to a mortgage specialist for further review. They will be reaching out to you personally to make sure we have everything to process your closure in a timely manner. thank you.
Any members who want to file a complaint against USAA can do so through the Consumer Financial Protection Bureau using the following link. http://www.consumerfinance.gov/complaint/
