March 2010- pre-approved for $210,000 mortgage, no contingency
April 2010 - pre-approval recalled due to contingency
April 2010 - pre-approved for $210,000 mortgage with contingency to sell or rent my home
Rented my house
April 2010 - loan denied due to not having 1 year rental history (notified sellers)
May 24, 2010 - pre-approved for 195,000 mortgage, no contingency (same house lower price)got fixed interest rate locked in
June 3, 2010 - received paper work to include loan application, good faith agreement, and va application, bank set up appointment for appraisal
Packet states that "at the time time of your mortgage loan application USAA collected a good faith deposit in the amount of $0.00."
June 7, 2010 place signed packet in mail, appraisal completed
USAA withdrew $350 from my checking (they have not received my application!)
The good faith deposit was to be applied to the cost of processing the loan. supposedly not taken at time of application
June 8, 2010 packet received and would be reviewed next day (per phone call)
June 9, 2010 packet reviewed
June 11, 2010 packet reassigned
June 11 close of business phone call for additional paperwork; paper work emailed to bank
June 14 paper work received. I called at 11 to ensure successful delivery. was told they would look at it right then and would call right back.
June 14 close of business no phone call yet so I called. I was told "oh I would have called you back but I hold all of my phone calls for the end of the day" what? She just wasted a whole business day when I could have been working on things. I filed complaint for untimely responses.
June 15, 2010 told I need to show taxes for past two year. I don't pay taxes. I am tax exempt we have been over this a hundred times. Was told i don't qualify without tax forms. So now they are telling me because I am disabled and don't pay taxes I am declined? HMMM? A veterans and military personnel bank? HMMM?
June 15, 2010 254 pm I quote (from USAA Letter) "The reporting agency is unable to supply specific reasons why we have denied credit to you."
June 18, 2010 Now they are denying the return of my good faith deposit which they claim they would and did not take at time of application but they actually took before they received the signed application. They said it was to be applied to the closing costs. According to my contract between myself and the seller, the seller was paying 100% of the closing costs. USAA's response was well it was to pay for the appraisal. I pointed out that the appraisal is paid for at time of closing by the seller and that I was to pay no closing costs. I also pointed out the fact that in a phone call I was told that the bank acted prematurely and that I should never have been prequalified for the loan, which to me means the bank should never have sent out an appraiser. THEN I was told as stated in the contract the $350 good faith deposit was "to be applied toward the cost of processing the loan." My response to that was #1 they took that money before receiving my application #2 they should never have processed my loan when they claim they lacked paper work #3 I was told I should never have pre-qualified which tells me that a loan should never have been processed. #4. They couldn't even give me a reason for denial. THEN I was told that the $350 good faith deposit was to cover the cost of the time they spent processing my loan. WHAT!!! They wasted my time they should be paying me. The loan processor never called me back until the end of the business day and she had the gull to talk to my title company and tell them that I was holding up the process because I was not responding to them or returning the requested documents. Documents that through out the process they had requested so many times that they had by then received via email, mail and fax... Needless to say I am seeking legal councel...