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I am a current USAA mortgage processor for both the VA and conventional lines of business. I am the first to admit that all the negative comments about the USAA mortgage process and processors are, sadly, correct.

For starters, my co workers were recruited from largely from day labor agencies- that's right, your "loan representative" may have been laying brick or drywalling one day and next day that person is "processing" your mortgage!! Also, we (yeah I admit, I take part in this) make key documents "disappear" if we were having a bad day. For example, a purchase contract or an appraisal can disappear EVEN if you, the applicant keep sending in documents :-) Additionally, voicemails get deleted without getting heard, and emails too (from you, our member). This happens because we resent having the weight of the world on our shoulders while the team leads and Underwriters do almost nothing!! I have caused many closings not to happen- especially purchases when we have the authority to delete entire loan files!

Also, because we are the point-of-contact with the appraiser, title companies, etc., we routinely ask the appraisers to "low ball" the appraisal so the deal falls through. Now, before you start getting all mad at me, please consider the following: If a loan is denied for low appraisal, it is AWESOME because that file falls off our caseload. If the appraisal does come in where we need it to, then it creates a MASSIVE amount of work for us!! It SUXXXX!!

USAA mortgage does not provide us with training and we largely "make it up" as we go along. We do not try to create a bad member experience; however, due to the fact our caseloads aAre so heavy, we do anything possible to "kill" a deal. It sounds horrible, but afterall what would you do if you were one of us?? We don't earn barely above minimum wage and we are 100% "contracted" labor. In other words, we are "temps" and we have no benefits and are expendable!

Make up your own mind if you want to deal with USAA Mortgage- you now have all the facts!!

Melissa K

Mortgage Processor

Review about: Usaa Loan.

Monetary Loss: $500.

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Anonymous
Boca Raton, Florida, United States #1247751

I agree this was my most recent experience. I have never done business with a worst group of people.

I wrote to the CEO Stuart Parker and he does not seem to be any more concerned. I finally went to Veterans United and it was a great experience.

They were so bad about not receiving documents one day I went to Office Depot to fax the same documents 8 times and they were continually not getting the complete papers they requested. This was the day I finally had to give up before I had a nervous breakdown.

Anonymous
#1096141

Then quit and get another job,

Anonymous
#1088456

Do not trust this company. I have never seen a company that can hurt you more than this one and I have over 25 years of experience.

Military personnel and veterans like me believe the TV ad about how USAA will take care of me.

The ad make my blood boil. This company is the most unprofessional in the fields of mortgages and banking.

They switch personnel over and over, for my it was 17 different people to get a home loan. They missed all deadlines cost me a lot of money on rates and cost of home.

Anonymous
#1079516

So why did you take the job if it is so bad? What you are doing is actually criminal, for you are stealing from your employer who expects you to do the job correctly- what are you stealing?

Time, the companies reputation, and the consumers time, as well as money when you intentional push for low ball appraisals. Even in work where the amount of work is massive, are you still not being paid the same amount for an honest 8 hour day of work? You took on a job, if you were not able to do the job, you have the responsibility of telling your supervisor so they can work out the problem or you can go else where. Or did you sign on for all of the benefits, health insurance, dental, good pay and expect to skate by without some good old fashion sweat.

It sounds to me like you lack the work ethic that is so sorely missing in these days.

Sign me as, 72 year old who knows what work is and the preciousness of having a job and doing it to the very best of his abilities.

Anonymous
to Anonymous #1337276

You obviously did not read her story nor have you ever been a mortgage processor. She said she gets NO benefits.

It is very difficult to be a processor. It is a very stressful job. It is not for the weak. I once worked at a bank that required you to have minimum 60 files in your pipeline.

That is 60 Appraisal you have to order, review, send for corrections. 60 Title ordered, 60 title companies calling for updates. 60+ 4506T you have to order that always seem to get rejected. 60 files you have to review.

60+ Real Estate agents calling daily for statuses. 60+ customers calling daily for statuses. 60+ files you have to remember on demand the status because you have meeting constantly with the LO's and Manager. 60+ Insurance companies you have to contact to get HOI updated.

You have to remember all the Government guideline to make sure you receive no conditions back from the Underwriter because you will get in trouble for conditions that come back and not to mention by the time it makes it to Underwriting it is probably a week before their closing. Everything is a rush. You have to prepare for a day off about a month in advance and because you are required to have a minimum of 60 files you are not qualified for overtime. I have yet to meet a processor in this business that is not stressed out.

The funny thing is it really doesn't take 30 days to process a mortgage loan.

I could close a mortgage loan as soon as the Appraisal comes in if I had a reasonable amount of loans to process. Just saying...

Anonymous
Columbia, South Carolina, United States #949046

As State Licenced Real Estate Appraiser I highly doubt these comments are true. Any attempt to influnce my estimate of value, high or low, is a federal crime.

Anonymous
to Doubtful #1088899

The appraiser that USAA hired for our house had to willing surrender his license for doing crooked things like this. Another Crack we fell through with this USA mortgage.

They didn't follow there own funding conditions and, I found documents from the state that confirm the appraiser's actions. Been fighting legal issues with this house for over a decade.finally won appeals and supreme Court.

SadieB
Fort Worth, Texas, United States #855240

Over the last year I have worked with several different home buyers who as Veterans who have served our country with valor and honor I am honored to help them purchase a home as a local real estate professional. Veterans are very loyal people and they come to me believing that since they have been with USAA for many years, decades sometimes, that they will receive great service and special deals from USAA as a Veteran and loyal long time customer with banking, auto purchases, investments and other areas of business they have transacted with USAA throughout the years.

Sadly, it is NOT the same when they go to get a home mortgage. USAA is a *** shoot at best and that is giving them more credit than they deserve for the incredible level of DIS-honoring service they are delivering to our Veterans seeking a home loan in today's market.

Granted getting a home mortgage in today's market is much different than in years past as there are so many more rules and government red-tape that in the past but that is not the biggest problem with USAA. The problem is they have so many Loan Officers, Loan Processors and Underwriters that just don't know what they are doing! They are THE most important people that are in charge of you getting to move into your new dream home or just dreaming about moving in and they don't know what they are doing!

Your are a number to them. They work Monday-Friday, 8AM to 5PM (or at least that's when they might talk to you, or your real estate agent) and that is a big problem in itself! YOU will probably need to talk to your Loan Officer at 6:00, 7:00 or later and on the weekend too when you are working to get your mortgage on your new home, but you will not be able to talk to anyone at USAA after bankers hours.

Add to that that while they are at work they will only take your phone calls and respond to your emails in the very beginning when they want you to believe that they are competent and are working really hard to get your mortgage for you. It's all smoke and mirrors via the phone and internet.

What you don't know WILL HURT YOU!

It WILL COST YOU MONEY!!!! After you have invested $1000's of dollars in earnest money, appraisal fees, inspection fees, etc. you will find yourself receiving the dreaded DELAYED closing phone call and/or the dreaded DENIAL phone call 1-2-3 days before you are scheduled to close!!!

This is a travesty of justice and a pure injustice for our Veterans. HOME BUYERS BEWARE!

VETERANS BEWARE!! These so called mortgage professionals are anything but, they have minimum wage clerks who can't tell the difference between a contract to purchase a home from a termite inspection report.

Do yourself a BIG MONEY SAVING FAVOR and stay very far away for USAA if you want to actually buy a home!!! They have left 3 very loyal USAA customers and Veterans homeless this year, or sitting in a hotel with a moving van on the way and have NOT CLOSED ON THEIR HOME after they (the home buyers) have done absolutely everything that USAA asked them to do and done it right! Myself my heart aches for the home buyers for all they have been through and despite the fact that I tried to educate them to these facts about USAA they were so loyal to them because they had received good service in other areas they wanted to stay with them......they all regretted their decision when USAA left them and their familes kicked to the curb by their incompetence.

I hope that everyone who wants to buy a home will read this post over and over again until you feel my passion for saving you from walking into a nightmare that will cost you a lot of heartache, pain and yes money too. AVOID USAA!! As a Veteran, you deserve the very best in all things and I wish you well and hope you will find a great local mortgage professional who has years of experience in helping home buyers realize their dream of a new home. Ask your real estate agent for recommendations.

We work with mortgage professionals every day and we know who will treat you right and make the mortgage process as stress-free for you as possible. If this post helps just one person escape USAA it will have been worth my post.

Anonymous
to SadieB Austin, Texas, United States #964727

I couldnt agree more.

Anonymous
to SadieB #1337282

These companies give the processor more than you can handle. You are NOT just a number and a lot of us are VERY qualified for the position and knowledgeable on the current Government guidelines.

The problem is by the time the processor actually gets to review your file and verify everything is correct on the application that was incorrect the customer does not qualify for the loan anymore. Mostly because the Loan Officer did not get all the information and didn't ask the right questions. If you do not get pre-approved before you go house shopping do not put down money. You do not know all the guidelines and it is possible you may not qualify.

Mortgage loans are NOTHING like doing car loans or unsecured loans. It is a different world that you only know if you ever experienced it.

Anonymous
#808978

Oh also we requested copies of our loan package and there were parts that were conveniently "MISSING" that is the documents that show that USSA didn't follow their own funding conditions and allowed this home to close with out a final inspection and the certificate of occupancy. having lived this nightmare I know that we all are human and mistakes are made but the magnitude of the mistakes on behalf were totally negligent!

They will do nothing to correct their mistakes either!

They say they are not the mortgage holder just the originator well that is the problem we should have never been able to close!!! so there should not have been a mortage that was orginated.....

Anonymous
#808974

I wish you would have not allowed our loan to go through but since we put almost $30K down I guess they knew that we were easy target! I hate that the key documents weren't present in our loan package and they still allowed our house to close , now we just hit 9 years of a nightmare dealing with the crooked builder and all the other people who shouldn't have ever allowed this unsafe home to close.

The appraiser that they "farmed" out had issues with the state they had to willing surrender his license to the state for his sooty work.SHAME ON YOU USSA you LIE and dont' take care of your members as you claim!

The truth will continue to get out there...... :x :x

Anonymous
to dmd #1337284

Mortgage companies are not required to order Home Inspection. In your Initial disclosures you would have had a document called "For YOUR protection get a Home Inspection".

That puts the responsibility back on the customer. Your Realtor should have suggested you get a home inspection. I have been processing Mortgage for about 20 years. I process FHA, VA and Conventional.

None require a Home Inspection and never have. I can understand how upsetting this is... It happened to my Dad before I was processing mortgages and I was pissed at the Mortgage company that closed his loan without getting an Inspection but after being in the business I see they never order them. I think they should but they do not.

Even if you order one we do not ask to see it.

I am sorry this happen to you. It really does suck.

Anonymous
#807009

There are so many flawed facts that show this "Melissa K" was never a USAA mortgage processor its not even funny. First of all USAA does not have an office that processes any mortgages in North Carolina.

It is impossible for anyone in the mortgage space to delete a file, it is also impossible for documents to be deleted. Every time a document is edited/modified/combined the previous versions are always saved.

There are other flaws with her statement but the facts I have already listed show that Melissa K is flat out lying. Maybe she has a grudge for some reason, that I don't know.

Anonymous
#735212

USAA Management should anticipate this type of reprehensible behavior and step up and hire professionals -- but they don't. Since they routinely screw employees, they need to monitor temp employees and essentially babysit -- but they don't.

Members should send a written letter to the USAA CEO. For forty-six cents you can make heads roll as the CEO does care, but unfortunately, managers, directors, and executive directors care only about profits and letters to the CEO.

Anonymous
#721088

Wait a sec. I worked for a large loan processing company years ago and we serviced loans for USAA.

So, we had USAA loan processors working in our building. I have to say that they were most certainly not day laborers.

The USAA department was where the cream of the crop worked and "loosing" files or asking an appraiser to "low ball" would never, never fly. I highly doubt Melissa is legimate.

Anonymous
Palm Beach Gardens, Florida, United States #653364

While I have sympathy for the USAA employees that are having difficulty, I feel it would be better for you to resign en mass. The reason is that you are ruining the lives of many people who do not have a lot of money or a pension etc...

It is unfair of you to do this to unsuspecting individuals who have done nothing to you.

I realize that corporate america is sticking it to the american worker, but what you are doing is equal to terrorism as USAA is not feeling any pain.

Only the poor members who have no idea what is going on. Fortunately I have read the poor reviews and am using a different lender, but you are wrong in your approach....

Anonymous
#652544

Sadly I have no doubt this is true. Im in the process of getting a mortgage with USAA and he has to be hands down the worst loan process I have ever gone through.

I have been trying to close this loan since mid February and have the loan has been closed once and denied another time. They have all my documents and the day before closing say they have to cancel because this that or another... I understand why people go postal now. Steer clear of USAA mortgage.

I have insurance with them and have had no problems...

but I have never had to make a claim. I probably will be shopping to switch in the near future after this mess I'm going through.

Anonymous
to twa #1217533

I know this is an old review, but I just went through the same situation. I had them close out the application cause it got so bad.

An the deleting documents is true. It's happened to me.

Anonymous
Charlotte, North Carolina, United States #621548

Well, I would just like to take a moment and say that our loan processor Chris Coldwell has been amazing, and we may be able to close a lot sooner than expected. This is fantastic for us, as we've been paying out of pocket to live in a hotel.

Surely this isn't true, just someone trying to drum up bad press it looks like.

I do believe file tampering is a federal offense. Not sure someone would admit to that kind of thing on the internet, unless insanely ***.

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