I have been a USAA member for over 10 years utilizing car, renters, property insurance, and to include banking services with them. I will say that the insurance side of the house has been good and the company was helpful when my family and I were involved in a car accident that totaled my car. USAA was very helpful and made sure my family could resume transportation again as quickly as possible and protected me from any possible negative litigation.
But as for the mortgage, I will say that the mortgage specialists and the one manger I delt with were disrespectful, mis-informing or lack of, and when there was any interaction with the mortgage side, the conversations were consistently one sided. I felt that over the pass month since I started my pre-approval was all in vein. The mortgage side made statements on occasion that they are there to help us, but that is not the case. And when asked to provide the supporting information to substantiate the verbal requirement, the personnel I spoke with changed the topic or attempted to make me feel like a little guy or inadequate.
Just to provide a synopsis of chronological events: I 1st started with a pre-approval denied twice because of my income to debt ratio exceeded the 45% threshold. I got this, but it was the manner of how the employees managed and used the data to infer a denial. The initial pre-approval application used my active duty pay, despite that I was retiring, but even with a base pay over $6,000 the company stated I needed to pay off the two car loan debts in order to be considered for approval. My only other debt was my credit card with a balance of at the time just over $200. So in order to keep all my eggs in the same basket, I went along with their demand and paid over $50,000 in two outstanding car loans. I was told this was required since my pay will most likely be reduced and they calculated my retirement pay based on years of service instead of disability (another problem that ends up kicking me in the next stage.) Eventually, I was conditionally approved at he third time, next step was when I wanted to lock in a rate, so I waited. In the meantime I was encouraged to provide documentation early in order to facilitate the process early and relieve any possible delays that would interfere when the application eventually begins.
Now, it is 17 November, and I am within the 90 day window before Closing on my home. As I call USAA to lock-in a rate they advised me not to because of possible delays that can occur with construction. I just started to see the rates decline over the month and wanted to lock in before they possible rebound upward again. Based on their recommendation, I agreed not to do the lock-in, but then I was advised to begin the application process by the phone representative who then referred me to Mortgage Specialist. Over the next two weeks they setup additional portal sites and trackers to assist me with the paperwork process, (which I found was cool and helpful) but what I was not informed of was that I now was beginning the application process early and had 30 days to complete and get an approval, which was told to me yesterday, 5 October, by the Supervising Manager of the mortgage section. So, it was a surprise to me when the proceeding Monday, 30 November, after two weeks of signing documents in triplicate (over in computer twice, and mail) that I receive an email stating my application will be marked as incomplete and a notice of denial will be provided to the loan if I do not provide all the necessary documentation. Well, I got upset as anybody would get and I called the company long distance from Germany on my own dime ( as I have numerous times before just for the mortgage) to get an answer to this strange email response. I thought USAA was here to help, instead I was baited to start an application before its time and it took the staff after me calling daily for a week for them to respond. Over the past week no email or return phone calls were made as I requested a call back or email from the manager or the mortgage specialist for my loan. Instead the manager advised me to either attempt to retrieve my ernest money, try to delay the closing, or just rent. Through the processes I have spoken to more than one mortgage specialist and all except one lady at the call center have been disrespectfully.
As for the mortgage specialists, one I spoke with twice in two consecutive days (separate to my assigned specialist who would not return requests.)
As for the manager, he stated the same yesterday, but added since I was going to be temporary disabled that I needed a letter from any supervisor or human resource command stating the exact money being provided but had to be for over a 36 month period, longer than the conventional loan requirement of just 12 months.
There is a lot more than this that happened but I am just running out of energy regarding each time new requirements came up regarding documents needed as time went by over the three weeks leading to yesterday. But lastly, my conversation with the manger ending terribly, when he stated I needed to produce an income specific paper on Army letterhead signed my any supervisor or human resource command stating that I will making over $3600 for at least 36 months. Really, Army HRC does not do this for no one and neither will a supervisor because that cannot be provided by them which does not fall under there purview. From what DFAS (Army finance) has told me, not until after I retire, because I then picked up by the retirement finance section, hence the reason to the one month retired pay delay briefed during out processing. Between now and then, paperwork and emails are passed along numerous active and VA sections which lead to creations of databases and the such, which then causes a delay, but key is getting the DD214 upon departure before anyone will speak about disability or retirement exact pay or award letter. Just in case someone screws up on the last days.
Lastly the posting now prevents referencing employee specific ethical events that may be defame the creditability of the company, so I had to delete 5 lines referencing that.
Signed HR Officer/USA retired