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Contributor
I've been a USAA member for over 40 years. I am very disappointed in their mortgage company. have had very similar experiences with USAA Mortgage. I purchased a second home 2-1/2 years ago and used USAA Mortgage. The customer service was absolutely terrible. My wife closed using a power of attorney and USAA called at the closing wanting to know where to send the check (which we already had). The process was long with numerous errors and lost documents.

1-1/2 years ago we purchased another investment property. After over 60 days of haggling with USAA and numerous "lost" documents (lost a single page of an emailed PDF document - still trying to figure that out) USAA told me my mortgage was rejected. This was 5 days or so before the scheduled closing. I went to a local bank via telephone and email, sent all of the USAA documents (this was on Monday) and we closed with a lower rate on Friday of the same week.

I made calls to USAA and talked to managers. To the person they defended the mortgage people and told me it was all my fault. Seems that the two properties that I owned were located too close to each other. At least that is what I was told.

I'll not use USAA again for any mortgage. They refuse to insure homes in NW New Mexico/SW Colorado due to fire damage, but have their fancy, expensive office in Colorado Springs.

Every since the membership was essentially opened to "everyone/anyone" the customer service has gone down. A few years ago they cancelled all of my homeowners policies without any notice. I was then told by a representative from San Antonio that if I pursued any grievance action or defamed USAA in a blog that USAA would file a suit for slander and defamation. In fairness, there was a dogbite, but USAA told me specifically that I did not have to put the animal down. Over a year later, they advised that I must destroy the animal, which I did. 30 days later they cancelled all of my policies after specifically telling us they would not cancel our policies. I searched for other insurance prior to destroying our pet, but I was told by another producer (Allstate) that it would cost over $10,000/year for insurance. The agent told me that he had a picture of my dog with a description that described the animal as a dangerous animal. He told me that USAA had placed this on an industry database.

Be advised, it's not the same company us older folks signed up for. The focus is on growth (gotta pay for all those prime time/sports commercials) and not service. We bank with them, which has been good so far, but it is a major effort to get any money over $25,0000 from them - taking multiple levels of management approval and numerous justifications for moving the funds. They attribute this to "Federal reserve rules" but I've not had any of these issues with Wells Fargo.

Hopefully, leadership will see what is going on.

1 REPLY

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usma1973,

I am very sorry to hear about all of the disappointment over the past three years. While I cannot change what has already happened, I would like to make sure you get the services you need going forward. If you have questions or need help with any of your banking transactions please do not hesitate to send us a message here. I will pass your feedback about the multiple approvals needed for a large transaction. Thank you for commenting.