I began my refinance process in November of 2013, I began the process including and appraisal and a loan amount (referencing the appraisal) but due to some other issues that I cleared up ran out of time ont eh loan so immediately I was assisted in filling out a new application in order to preserve my rate. A few days later I spoke to a mortgage specialiston the phone and within 5 minutes turned down my application. I was extremely upset as the previous loan was almost finished. Here the funny part...A couple of days later I received a call back stating that they had received new information and my loan would be restarted, I was delighted that they had gone through the extra effort to relook at my application and paperwork. We continued from that time working some other minor details including another appraisal I told the specialist that I already had one done a couple of months before but she insisted that I have another, when I questioned who would be paying for this secodn appraisal I was told it would be covered, everything was going well until until about March 3 when I asked when we might be going to closing, I was told the date was March 10th. On March 6 I received another call saying everything looked great and it would be submitted again for final review, then on March 8th I received another call stating that the second appraisal came in and it was much lower than I estimated (I didnt estimate anything, we were going off the original appraisal value that USAA gave me). When I asked why they had requested a second appraisal they said that the VA required it, I again reminded them that I had one done that was still valid. I was told that I could go to closing but know I would have to have $30,000 for closing costs. I cant believe that after 4 months of dealing with this and some screwed up mortage specialists on the phone I cant refinance my home. This is bordering on unethical behavior...would USAA continue to keep ordering appraisals until it met their criteria so they could screw over an applicant. The level of frustration and disapointment I have felt has been overwhelming. This is one of those experiences that completely overpowers anything that I felt USAA did right? I will definitely always caviat my references with this episode of complete disappointment.
I am so sorry for the confusion and lack of clear communication. I would like to get a specialist in contact with you to go over what can be done and what we can do in the future to avoid this frustration. If you could please send us an email here at email@example.com with your member number and some details you provided above, we can get the right person in contact. Thank you.