Review and analysis of over 100 Conventional Fixed Mortgage complaints against USAA Savings
USAA Savings consumers have reported over 100 official complaints related to Conventional fixed mortgage. Out of the 100 consumer complaints against USAA Savings, 19% were disputed by the consumer (i.e. the consumer was not happy with how USAA Savings responded to their complaint) and 93% were processed in a timely manner. 17% of consumer complaints against USAA Savings resulted in the consumer receiving monetary compensation (e.g. money, cash reimbursement, etc.) and 12% resulted in non-monetary compensation.
Submit a complaint with the Consumer Financial Protection Bureau today
File ComplaintStop harassing phone calls, know your rights and what you can do to stop them
Stop Calls
USAA Savings Mortgage loan servicing, payments, escrow account April 7, 2017 - My Bank used a loan servicer ( - ) to do their work of loan servicing. I paid my -/-/2016 payment of $1000.00, and the money was debited from my account, yet never showed up as payed to my mortgage, nor was it relayed or forwarded to my new loan servicer ( - ). So my current principle is too high, my interest deduction - form is incorrect, and to date Ive spent about 30 hours on the phone and researching what happened. What do I need to do to have an investigation of where my money went, and who is responsible for finding it and applying it to my loan and issuing corrected - ... |
USAA Savings Mortgage application, originator, mortgage broker March 28, 2017 - I wanted to proceed with a mortgage refinance on my primary residence and I was rejected by USAA Federal Savings bank due to my debt to income ratio which was 48 %. The associate stated that the debt to income ratio should be 45 % or under. So I applied with my wife as joint applicants. We were turned down as well due to the fact that her credit score was below - ( - ). I am displeased due to the standards imposed in trying to apply for a refinance. We are hard working individuals that want to consolidate the - mortgage loans into -.... |
USAA Savings Mortgage loan servicing, payments, escrow account March 23, 2017 - Bad Customer Service and Withholding of funds due to the mistake in calculations and inexperienced representative ( s ). On -/-/2017 I provided Proof of HO Insurance to the USAA representative. Same date I was advised that my escrow wil be recalculated and that the check with the amount to pay for the insurance will be sent to the Insurance company. Immediately I contacted the rep and advised that I already paid the full amount for the insurance. Representative advised that the check was issued and they can not stop it and that I will need to get in touch with the insurance company to get m... |
USAA Savings Mortgage settlement process and costs December 9, 2016 - I refinanced my home with USAA and did not receive copies of any of the loan documents that I signed. Additionally, I received $310.00 less than the amount identified on my final Closing Disclosure form.... |
USAA Savings Mortgage application, originator, mortgage broker December 2, 2016 - We received emails, letters, and phone calls. We were required to fill out actual papers to return in the mail and uploaded documents electronically. Unfortunately, our rep kept asking for information already submitted which lead to confusion if anything was really needed. We did finally figure out that our multiple year tax returns ( labeled as such ) was only for one year, which would not have been a problem to upload the correct documents as it was easily accessible. The main problem is that the rep advised my husband 's contract was a requirement. I spoke with the rep and rep 's supervisor... |
USAA Savings Mortgage application, originator, mortgage broker November 23, 2016 - The mortgage company changed the loan terms to a more expensive loan well after it was aware of the change in circumstance that they allege necessitated the change. It seems they implemented a fraudulent bait-and-switch. After shopping around for loans, we went with this particular company because of they offered loan with a lower interest rate and a substantial lender credit. Apparently this loan was based on the property we were purchasing being a town home - as opposed to a condo. When we initially spoke with the loan officer, we noted that we did not know if the property was a town home o... |
USAA Savings Mortgage application, originator, mortgage broker November 15, 2016 - -/-/2016 : Applied to refinance my house with USAA, locked in my rate 3.5 %. -/-/16 : Received my application packet with all of the documents needed in the mail, including my intent to proceed. Expiration date of application packet was - -, 2016. -/-/16 : I uploaded all of my packet including my -, income statements, intent to proceed, everything. I used USAA, so they have a digital portal to which I uploaded and indicated that I was done. The prompt said " Thank you! If we need any additional documents we will contact you. Check back to see the status of your mortgag... |
USAA Savings Mortgage loan servicing, payments, escrow account October 10, 2016 - I pay excess principal on my monthly mortgage. The check is sent monthly for -, and the mortgage payment due is around -. Despite numerous calls ( around 10 ) to the mortgage servicer, they continue to intermittently misallocate my payment, helping themselves to extra interest or advancing my monthly payment by one month. They tell me it is fixed, and the next month they do the same thing. I bank with USAA Federal Savings Bank in T-. They originated the loan. Both - and - have serviced the loan, and both companies have repeatedly misallocated my payments. The information from - ... |
USAA Savings Mortgage application, originator, mortgage broker September 29, 2016 - USAA ( loan officer - - ) pre-approved me for a $410000.00 mortgage loan in - 2016. I searched for a home and found -. In - 2016, USAA approved me for a mortgage of $160000.00, but the home purchase fell through due to damage exposed in the home inspection. In -, since the previous pre-qualification had expired, USAA again ( though this time, through a supervisor, - - - pre-approved me for a mortgage of $410000.00. I was unable to find a house, and approximately 90 days later on - -, 2016 USAA ( through - - ) approved me for a mortgage of $410000.0... |
USAA Savings Mortgage credit decision / underwriting September 22, 2016 - I am attempting to refinance a mortgage with USAA. The company is holding up the loan at this point because there was a dispute on my credit report - not an " open '' dispute, a resolved dispute. Their last email said " - - is showing the disagreement code with a resolution of dispute on your credit. This is what underwriting needs removed. '' - - on their part sent the disagreement code, which I am fine with, and resolving the dispute. What I am understanding from USAA is that they want that to be undone, which - - can not do. A day later, after I inquired as to why such a... |
USAA Savings Mortgage loan modification,collection,foreclosure September 12, 2016 - I am - military, and have been since -/-/-. In -/-/- I purchased a house in -, Arizona through USAA. The loan was a split ( - ). I left the US to serve - from - until -. During this time USAA sold the primary to another mortgage lender, but USAA retained the " - % '' of the loan for themselves. I returned to the US and was divorced shortly after in -/-/--/-/- and because of the housing market crash, the house was upside down. When I attempted to execute a short sale to remove the property as a joint holding between my ex-wife and I, she declined to... |
USAA Savings Mortgage loan servicing, payments, escrow account August 24, 2016 - I contacted several mortgage companies a few years ago to refinance and chose USAA. I asked each one of the mortgage companies if I could make bi monthly payments to pay down my mortgage sooner and USAA said yes. After the refi was complete I reached out to set up my extra payments and was told that I had to pay to participate in a program to be able to make extra principal payments. This is my complaint. I should not have to buy a program to pay off my mortgage with extra principal payments.... |
USAA Savings Mortgage settlement process and costs August 18, 2016 - We closed on our Minnesota home cash out refinance mortgage with USAA on - -. It was a reschedule from - -, so we ended up having to wait an extra day for the rescission period to end over the weekend for disbursement on - -. Well it is now the - and the money has not been wired to our bank, nor has the original loan been paid off. The disclosure statement, which we did n't receive until the morning of -/-/-, when I demanded it, had an additional 7 days ( from disbursement date ) of interest to the previous lender built into it. Then yesterday on -/-/- they tell... |
USAA Savings Mortgage application, originator, mortgage broker August 1, 2016 - I obtained a home mortgage through - several years ago. My mortgage was recently sold to Nationstar mortgage. I received a notification by mail that Nationstar will share my personal data such as my social security number and income, my account balances and payment history, and my credit history and scores with other business for marketing and information purposes and I can not opt out. This is a company that I did not choose to do business with. I do n't want my personal information shared by a third party. I do not believe that this should be allowed. Please advise.... |
USAA Savings Mortgage loan servicing, payments, escrow account July 28, 2016 - I am a New York State resident. I refinanced my home mortgage with USAA Federal Savings Bank, signed -/-/-. The monthly payment, included PMI ( $79.00 per month ). As the appraisal value reported before the signing, was valued at $290000.00. As of -/-/-, the outstanding loan mortgage was $230000.00, as I have made extra dollar toward the principal reduction each month since -/-/- with no obligation and penalty. As I called and tried to reach out USAA-Mortgage Dept since -/-/-, requesting my PMI to be cancelled or to be removed, and I did not get any imme... |
USAA Savings Mortgage credit decision / underwriting May 19, 2016 - CFPB Complaint USAA Mortgage USAA is referred to herein as the " lender ''. All agreements to transact real estate were made on the basis of a 15-yr 3.0 % mortgage with 5 % down payment as approved in the prequalification process with USAA. When lender later disqualified the applicant, the only options given to the applicant were 30-year terms and interest rates near 3.75 %. In addition, the lender then enforced a 10 % minimum down payment. Central to this complaint is that the lender baselessly ( or without disclosing the basis ) disqualified the applicant 's rental property income ( $ -... |
USAA Savings Mortgage loan servicing, payments, escrow account April 25, 2016 - We are repairing our Kitchen and flooring under an insurance claim to address water damage. USAA, our mortgage company, is unreasonably holding our claim money and preventing us from paying our contractor. It was very difficult to get OUR money from them to even begin the work, and will only give us add'l money once we are " 50 % '' complete ( as they define it ). We have signed affidavit from our contractor, stating we are more than 50 % complete. The repairs were fix plumbing, mold remediation, fix floor, rebuild kitchen. Plumbing is fixed, mold is gone, approx - sq feet of - sq feet h... |
USAA Savings Mortgage loan servicing, payments, escrow account April 20, 2016 - On - -, 2015 I paid off my mortgage to USAA Fed Savings Bank, - -, T-. - is the loan manager. After many calls and - certified letter, neither company has produced a recordable loan cancellation notice to the Court House as of today ( a year later ). I constantly get excuses and different people at both institutions who say they will help, but they will not return my calls, emails or letters. I need help in getting this notice as it is holding up my mother 's probate. ... |
USAA Savings Mortgage application, originator, mortgage broker April 14, 2016 - Complaint Details I filled out an application for prequalification on a home mortgage about a month ago. After about 3 days i received a prequalification letter saying i was qualified for a home loan of - with 5 % down. It said that the next step was to find a home and get a contract. So I did.I put - $ down ernest money and - $ for option period then another - $ on home inspection. I then had the realtor send over the contract and was instructed to call USAA to make sure everything was going well. Well I call the number listed on the pre qual and ask for the status and they say it... |
USAA Savings Mortgage loan servicing, payments, escrow account February 16, 2016 - I am trying to stop hard copy statements for my mortgage loan. My mortgage servicer is telling me that they can not stop them, as CFPB and " the law '' require them. I have no doubt that this is true, but I do think it is stupid. Is this actually required by the law, or was it just included in one of the implementing regulations? Can you give me any insight as to why the Government regulations are requiring the waste of paper and the increased costs of printing, postage, and distribution of something I do n't need or want? ... |
USAA Savings Mortgage loan servicing, payments, escrow account January 13, 2016 - USAA screwed up my escrow account for property taxes. Last year I was only in the house for 6 months so I paid half the taxes and they used that same amount that I paid last year for only half the year for this years taxes which were for a whole year. So now I need to pay $2900.00 extra or add more to my monthly mortgage payment. They claim it was n't their fault and that the taxes increased but that is not the case the taxes are exactly the same all that changed is instead of only paying for 6 months we paid for a full 12 months. USAA also tried to sell my mortgage off only 2 weeks after we... |
USAA Savings Mortgage loan servicing, payments, escrow account January 10, 2016 - When we refinanced our home, the paperwork indicated we could apply to remove the PMI from our mortgage on -/-/-, prior to the automatic termination date of -/-/-. In -/-/-, I called to inquire and was sent application paperwork. After receiving the paperwork, I called to ask about the difference between a Broker Price Opinion ( BPO ) and an Appraisal, since the cost difference was substantial. I was led to believe a BPO was an external inspection of our home to ensure it had not fallen into disrepair. From my recollection, I was never told, nor were there any implications, that... |
USAA Savings Mortgage settlement process and costs December 4, 2015 - My complaint is a personal complaint but has ramifications throughout the mortgage lending industry. I recently agreed to a 15 year [email protected] % a very good rate that has since moved higher. However, I now believe my bank, USAA, is intentionally slowing the closing process down. We were supposed to close -/-/-. It has been rescheduled five times! The last two of which were canceled 10 minutes before the signing, as I was on my way to the meeting! However, this is not my complaint. I see a broader issue here where banks can extend people 's refinance dates in order to potentially earn ... |
USAA Savings Mortgage application, originator, mortgage broker November 25, 2015 - We began a home mortgage application with USAA Federal Savings Bank on - -, 2015. We were speaking with - - ( NMLS ID - ). After going through all of the information, we came to the point where we were going to lock in a rate. The rate she gave us was very good ( 3.625 % with 0.5 points ). There was another rate quoted with 3.875 % and 0.125 discount points, but we LOCKED IN '' with the first rate. We even asked her if the rate was good because of our good credit. She said yes. '' Two days later we got the written paper work, which had our correct interest rate, but now had 2.... |
USAA Savings Mortgage application, originator, mortgage broker November 17, 2015 - 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 l... |
USAA Savings Mortgage loan servicing, payments, escrow account September 3, 2015 - -/-/2015, my house - flooded. When I received the disbursements from the insurance company, I sent the checks with copies of the Proof of Loss and the contractor 's estimate to USAA - our mortgage company ) and waited for the check. On Friday, - -, -, I called and asked the status of the first disbursement for the contractor and was told that my information has been received and input on - -, and it would take 5-7 business days to send the check. I called back Friday, - -, - and was told the 5-7 business days was for processing time and that the check would be m... |
USAA Savings Mortgage credit decision / underwriting July 27, 2015 - 1. USAA will not honor the loan rate offered to me telephonically. Mortgage rates and associated points were telephonically communicated to me and I made detailed notes of the call. I locked in the rate/point based on the telephonic quote. Written lock-in agreement listed different point level from the telephone quote and I made an immediate inquiry to USAA. USAA has delayed investigating my inquiry for - days. USAA now asserts that the telephone call where prices/points were quoted to me was not recorded and, therefore, it will not honor what was quoted to me by phone. 2. USAA has declined... |
USAA Savings Mortgage credit decision / underwriting July 20, 2015 - My fiancee and I decided to choose USAA to hold our mortgage, so we applied through them initially. Approved us for $ - initially ... .filled out the entire application. And we had to do our own application because we were n't married yet. All that was fine, but how do you approve us for $ -, even though we found a house for way less, and then when we get 4 days from closing to tell us that our loan is no good and that we will not be able to close? And then ask us if we have any family members who could give us a substantial gift for a down-payment? We went from having to take $ - to ... |
USAA Savings Mortgage application, originator, mortgage broker July 15, 2015 - My wife and I have top tier credit and applied for a loan, we were pre approved and the barrage of sending information began, they wanted everything imaginable, all the way up to the point of asking for a letter from my wives employer that her tips would not change? Thats after sending a form for them to fill out and be reviewed by a supposed independent company. Everything was fine supposedly according to - -.processor Usaa. Well the closing date came and went - -, they said we need a new closing date the -, that came and went, then I called and spoke to another processor that ... |
USAA Savings Mortgage loan servicing, payments, escrow account July 3, 2015 - I have - complaints about USAA mortgage services. The first, I 'm concerned that I may have overpaid in interest. The second has to do with how USAA unilaterally applies additional mortgage payments to principal, interest and escrow, and the third has to do with their use of mortgage servicers '' to manage their mortgages and their lack of accountability or responsibility to their members when using the mortgage servicers. For the first issue, I sent three additional mortgage payments that were to be applied to the principal only. In each instance USAA applied the additional payment to t... |
USAA Savings Mortgage application, originator, mortgage broker April 27, 2015 - Previous lender ( - ) offered mortgage rate reduction service for a fee % of outstanding balance with a maximum of $1500.00. I wanted to open my new mortgage with USAA because I liked them for banking however I would only switch if this service were offered. When I started the process of buying a new house this summer I confirmed with my USAA processor that USAA offered a similar service to that of my previous lender. Because of this I opened a loan with USAAIn - of -/-/2014 seeing that rates dropped I contacted USAA mortgage department to reduce my rate. - - said that this was... |
USAA Savings Mortgage credit decision / underwriting April 5, 2015 - On -/-/2015 I applied for a mortgage with USAA. Due to my income to loan ratio, I was told that I would have to receive approval from their underwriting department, which could take up to 3 business days. I asked if there was any way to expedite the process because the sellers would like a Good Faith Estimate (GFE) as a guarantee of creditworthiness, and the mortgage representative said there was no way to make the process go faster.On -/-/2015 I was called by a USAA Mortgage Representative stating that their underwriting department was wondering if there were more assets that I have avai... |
USAA Savings Mortgage loan servicing, payments, escrow account March 25, 2015 - We purchased our current home while in the process of selling our previous home. Because our closing on our new home was prior to our closing on the old home, our down payment was only 8 %. - months after closing on our new home, we closed on our old home and proceeded to pay an additional $90000.00 on our new home. Our LTV became approximately 67 % of the loan value and less than that based on the appraised value. I thought that PMI would roll off '' as we were well under the 80 % threshold. To be sure, I called our lender, USAA, and requested removal. Over - days past the date of th... |