I posted about USAA not doing any analysis in accordance with the VA underwriting guidelines. They strictly relied on the last 2 year returns. They did not examine 2016 pay stubs, or even ask to view my employment contract or to get a letter from my employer. Let alone, they did not ask to see my credentials to verify stable and reliable employment (i.e., license, degrees, etc.).
For my application, they strictly relied on the tax returns. I wonder if they would do the same if a medical doctor applied for a mortgage.
I am in the same boat, called and spoke with Alexander (USAA LOAN OFFICER), sent him all my income documents, (RAS, VA Disibility, bank statements ets) and answered all questions, I got a Pre-approval letter to purchase a home. After making a offer on the home and forking out $1000.00 for earnest money, $450 for appraisal, $450.00 for home inspections and $295.00 for septic inspection, and 13 days before closing I get a call from a Andriana (USAA PROCESSOR), telling me I am dis-approved. There have been no changes to my income that I reported to Alexander prior to receiving the pre-approval letter. I tried to explain to Ms Jones how much money I was out and she said that’s USAA policy, her attitude was ‘I don’t care’ you are out any money.
@Pre-approved joke, we appreciate you taking the opportunity to share your experience. Certainly this is not what we want for our members. I have taken this opportunity to share your experience with a colleague in the mortgage department. They will research your concerns and reach out to discuss this matter with you. Tricia