USAA Savings Mortgage Complaint

USAA Savings Mortgage department,

Conventional fixed mortgage Application, originator, mortgage broker California

I am having a problem with the USAA Federal Savings Bank in Texas over a mortgage loan. Earlier today, I sent an e-mail to the USAA CEO, which I will copy below. Late today I was called by a woman who identified herself -. As part of that conversation, she informed me that if I did not sign and return by tomorrow, - -, a form accepting the points listed in my e-mail below, the loan would be cancelled and if I wanted to purchase a home I would need to re-apply for a loan.To : - - USAA CEOFrom : - - - - Member Number--- ( Cell ) Subject : Failure of USAA live up to its ethical obligations related to a mortgage loan. I am a - veteran who has used the services of USAA for 35 years. During this time I have been lead to believe that USAA operated on the principle that they expected my compliance with my verbal word, and USAA would live up to its verbal obligations. I have a current application for a mortgage loan. The loan # is : -. I am using a Real Estate agent supplied to me by


to a women who may have been -. She offered me an interest rate of 3.75 % with - a point for a total of $420.00 for the points. I was pleased with that rate and asked her to confirm, she confirmed the rate and told me she needed to transfer me to another person. The male to whom I then spoke had trouble locating my loan documents. He finally was able to locate them, he said, after I gave him the loan number : -. He asked me at least twice to confirm the rate and points that I had been quoted. I restated them as I have listed above. He then engaged in a conversation with people in the background. I generally was not able to understand that conversation. However, I did hear - male say : Go ahead and lock him in. He then informed me that he was going to lock me in. I again requested that he confirm that I was being locked in at 3.75 % and - a point ( $420.00 ). Last Wednesday I received documents from USAA telling me that I had been locked in at 3.75 % and 1.75 % points, or $5900.00. Yesterday I was informed by - ( ex - ) of the following:1 ) I was believed to have made - - - - telephone calls. One was not recorded and USAA did not know if the 2nd had been recorded. 2 ) An entry was made in my records that the rate had been locked in on the morning of - -, but no entry had been made as to the percentage and the points. Today, - -, I spoke to - ( ex - ). She informed me that an entry had been made in my records as to the interest and the points at 1.75 % of the loan. All of this appears to me to be low level people attempting to cover their error. This places me in a critical situation. I clearly do not want to be confrontational. But, I expect USAA to live up to its word. I need your help. Please, -Sent early in the morning -/-/2015 To : --NOTE : USAA has placed us in a bind due to an error. The reality is that I was quoted their rates for a VA loan, when I applied for a conventional loan. They made the error. I did not. Now everything about this purchase is at jeopardy. I did not know that the rate they quoted me was a VA rate and not a conventional rate. My wife and I would not and have not considered a loan with almost $6000.00 in points. - - -