As a 24 year member of USAA, I am disappointed at their lack of professionalism and customer service.
I applied for a mortgage with flawless credit, more than three times the price of the house in liquid assets, and a well-established full-time, six figure job. What could possibly go wrong? First of all, the mortgage processor went on vacation for a week, and my application fell into application purgatory and was passed like a hot potato from advisor to advisor. I was frequently redirected and disconnected while trying to pass on reqeusted information. My realtor received the same experience. When my processor returned, they appraised the property which appraised for more than twice the selling price due to updates needed.
My mortgage was denied due to the possibility of lead paint in the woodwork. Show me a house built prior to 1978 that doesn't have lead paint. They also didn't like some peeling paint on woodwork and a small area of water staining from a previously repaired leak. The first bank appraisal di not match the USAA mortgage processor's "doom and gloom" assessment, so they sent me a second appraisal reflecting a downturn in rated condition. This is somewhat unethical according to my realtor.
As a restorer of historic homes, I have restored two homes which received national recognition and were placed on the National Register of Historic Places by the U.S. Department of the Interior. I have had 15 years experience with historic preservation. I worked as a National Park Service ranger on some of America's landmark homes in addition to my own restorations. With USAA's narrow guidelines and lack of experience, they have a limited "cookie-cutter" approach to what is acceptable and eligible for a home purchase. I did not appreciate "jumping through hoops" and meeting all deadlines just to be told at the last minute--"sorry we are going to close your application".
This narrow view, combined with an unprofessional staff with indifferent attitudes, made for a very unpleasant experience. This is not the way to treat customers, and I will not recommend USAA to my peers or Soldiers.
First, thank you for your 24 years on membership. Secondly thank you for taking the time to share the details of your experience with our mortgage department. Please be assured that your feedback is being escalated and a specialist is further reviewing your situation and will be in touch with you personally. Thank you again for posting.
I have been informed that a banking specialist has been in touch. please do not hesitate to reach out to that point of contact if you have any additional concerns. Thank you!