Contributor

Ive been with USAA since I was a dependent at age 16 and I hopped on my dad's car insurance.  thats almost 38 years now

 

Although service generally has been good with USAA, the mortgage service is becoming one of the worst in the industry.

 

I've finacned with USAA several time on homes, and each case has gotten steadly worse

 

Last year, I could only communicate with my loan processor through email because I couldnt understand a word she said on the phone

 

I'm trying to close on a house tomorrow but 14 hours before closing, I'm learning that's not going to happen because the underwriters finally started final reviews less than 24 hours before closing and holy cow, they cant find a statement which says there's a CO2 monitor in the house.

 

So we're inconviencing, the sellers whom have plane tickets tomorrow, my wife who will have to change a business trip because a statement saying there's a CO2 monitor in the house doesn't exist in the almighty file.

 

The web site has been a mess and never worked to upload files.  My loan processor is so overworked its apparent he couldnt focus on my loan until it was less than two weeks from closing, and it was painfully obvious based on questions I received that the underwriters really didnt check the file until this morning.

 

Im ahgast at the service, and when I called my loan processors supervisor, he was more worried about my use of profanity than he was correcting this issue.

 

My strong recommendation on usaa mortgage services - don't.  Im not saying others are better, but a company that is focused on serving this country's military members should be beyond raproach

7 REPLIES

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I fully agree. We went down to 4:30 on a Friday night. It was finally approved. The gal we had misplaced items. We put thousands down for a down payment. That helped to lower our monthly payment. I had a stoke and a tumor on my brain stem. We can't get any money out for our equity. This totally sucks. What are we to do?
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I haven't tried USAA mortgage or auto loans, so I can't help with any input there. But I recently refinanced my mortgage with Navy Federal and got an Auto loan with them too and it couldn't have been easier and stress free. All you guys having issues with USAA should give Navy Federal Credit Union a go.
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I concur, USAA is hoping our loyalty will keep us from checking out other companies that will hustle for our business.
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I have to give USAA Mortgage Services credit for at least one thing, they are very consistent at providing poor unresponsive service to their supposed valued customers.  I concur with the comments of others that the loan processing officer will not even give you the time of day till about 7 days prior to your closing.  As a member of USAA since 1996,  I had been impressed with their financial prodcuts and services.  My experience with mortgage processing was the exact opposite.  Since buying a home with USAA, I have encouraged at least 7 other people to shop for a loan else where.

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 I'm having problems getting my Procssor to respond to my messages on line or phone calls. I filed a grievance last night and followed up again tonight. I called tonight of course the Mortgage people were already closed but the rep i talked with said he was sending a email to the process to call me tommorow. if i don't hear from them by mid morning i'll call again. It's been a week since they received the papers from me, i want a status update. I know it takes time but at least call me or reply to my messages.

 

Tom

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I have only completed two mortgages... one in 2002 at a large bank with a large NYC presence, and one just this year with a small, 150-year-old NYC bank. The experience was as frustrating with each... I think it's just the industry.

 

In my latest purchase, the underwriter lost paperwork... two days before closing, the bank's attorney couldn't find paperwork that we and the bank sent them weeks earlier. At closing, the bank attorney miscalculated our final payment due and we "overpaid" but a a couple grand... closing cost items that were already paid to the bank/title company/etc were not included in that calculation, which they could not change at closing... so we are waiting for a refund check.

 

These things just seem par for the course with underwriting and closing.

 

Now, mortgage servicing is where the big issues comes in. My first home with the mortgage purchased in 2002 is now an investment property, so we are still carrying it. The original bank sold the mortgage to a company with a useless website with no online payment ability, I never received a single statement either electronically or on paper (I have requested both) and I can't even seem to persuade then to change my mailing address. I just assume that my payments are being credited correctly because my "balance due" changes to zero a few days after I mail in a check. It's frustrating.