SAN ANTONIO, TEXAS -- USAA has been amazing in all other areas with the exception of the mortgage area. I purchased a home in 2008 with USAA and the process was smooth with no issues so I thought I would have the same experience when I looked to buy another home. I was very VERY wrong.
It all started with my mortgage processor "misplacing" my sales contract and delaying an appraisal for a month since they never called me to say they needed another copy. That was just the tip of the iceberg sadly. Every call to my processor was met with the same line "I haven't looked at your file yet since it has been so incredibly busy" and she would say everything is fine and they don't need any more files from me.
Fast forward to a week before closing and the title work is still not done (because it was ordered late), the appraisal from VA was ordered late and still hadn't come back, and they keep telling me I have credit issues surrounding an AMEX card that never had a late payment and with my overall credit score above 790.
Closing day came and went, and now USAA has an issue reading the VA appraisal stating that the crawl space needs to be deeper to allow for termite inspections (a project costing in excess of $10,000 and a termite inspection was already completed) and that some damaged tiles in a bathroom need to be fixed (even though I am gutting the bathroom immediately upon closing). I am still waiting on a manager from the Mortgage processing area to help but they are insisting I call the VA for clarification even after explaining to them that the VA will not speak to anyone but the lender.
I have been a member of USAA for 6 years and have purchased almost every single product they offer. Sadly, when I call to try to get assistance from higher, I get sent into a never ending automated phone system or get sent to an operator that can't help me because the rules don't allow them to.
If you are thinking of financing a home through USAA, save yourself the hassle and go with another lender. The exceptional customer service that USAA is known for has been going downhill for years and now they are no different than any other bank but seem to have more incompetent people than normal.
I am closing my accounts with USAA and moving to Navy Federal.
SAN ANTONIO, TEXAS -- My husband and I have used USAA credit card services in the past. They have been remarkably wonderful to deal with. However, we, like others, because we had such a great experience with USAA prior, tried to finance a home via a VA loan.
This has been a nightmare for us. We realized in advance, the process would require a lot of documentation. We jumped through hoops to get our mortgage processor everything she required. But the data requested came in Bits and Pieces. Everyday she was requesting something new, never just one whole list of things to fax or mail. We spent well over $100 faxing and re-faxing information(because things were lost). I finally had had enough and let her know about my frustration. She admitted to my husband and myself via email that she was only in this position for 4 months and is trying to learn as she goes along. OK, we understood that and I did feel some empathy for someone learning the ropes. I've been there myself.
Here is one example of something ridiculous that not only the mtg processor is questioning but the underwriter as well: We had to have a termite inspection. Termites were found. The company we hired who was wonderful(BIOTECH) came out and treated the small area affected. The technician gave us all the data we needed to provide to USAA. The documentation from BIOTECH was page numbered 'page 1 of 5'. We had pages '2 of 5' '3 of 5' and '4 of 5'. Page 5 is just a warranty should the homeowner choose to pay extra for the warranty. There is NO NUMBER on that page! We have been questioned over and over. I even called BIOTECH and they faxed USAA every piece of documentation regarding our home. They even said they would have the owner of the company hand write a letter to USAA for us stating that all documentation was provided for them. BIOTECH asked what mtg company we were going through because they have NEVER EVER had this much of a problem before and BIOTECH has been in business for many many years. So the mtg processor finally sent our file to the underwriters. Now as of yesterday, we hear that the underwriter is questioning the BIOTECH termite inspection and the lack of 'page 5'.
To say we are pissed off is an understatement. The above incident is just one of many incidents that we have patiently dealt with regarding the USAA mtg loan.
In closing, we still don't know if we are going to be approved for our loan but are seriously thinking about telling them to stick it where the sun doesn't shine.
SAN ANTONIO, TEXAS -- It has been eye-opening seeing the negative comments about USAA on a number of financial services fora. I've been with USAA for 33 years, never a late or missed payment, never an overdraft, and I think my last and only automobile claim was for a couple hundred back in 1982. When you look up "low risk" in the encyclopedia, it has my picture Anyway, I am one of those who was always singing the praises of USAA over the years and I, too, ignored the warning signs of a formerly excellent organization that got too big and started chasing too many higher risk customers to the detriment of the former core customers. I've had two extremely negative experiences this year, one with Mortgages as I started construction of a new home, and later with Property Insurance as I tried to insure it. In both cases, it appeared that the decision makers have been moved behind a wall, well insulated from the annoying customers, protected by 17 layers of middle management, not one of who is empowered to actually make a decision. Essentially, USAA left me standing at the altar twice in a row on this real estate deal, and that's something I can't forgive. I have begun the process of moving all my USAA business â banking, credit cards, auto / property / life insurance, investments, you name it â to other firms. After 33 years. I thought it was just me. But I see I am not alone when I look at all the reviews around the Internet instead of just those cherry-picked by USAA on their site...
NEW ORLEANS, LOUISIANA -- When my car was declared a total loss, the total loss department offered me about $3000 below its estimated value by using CCC One (CCC Valuescope previously) Their long report made it seem like they had really calculated the value of my car, but most of the info in the report was not specific to my car. And they use the wholesale value dealers can buy the car for as your value of the car.
Even USAA's used car purchasing program had used vehicles similar to mine for sale for $6000 more than my offer (less offset of $2000 for mileage on my car which would make mine worth $4000 more than offered) When I asked for supervisors name, their answer was "what for?"
I did get the supervisors name and called him and left a voice mail. The original adjuster called me back and asked if I was ready to settle. This department steals from customers/ they like to call them members by trying to force a settlement.
SAN ANTONIO, TEXAS -- I was 400 miles from home, when an inattentive drive slammed into the rear of my vehicle. This occurred about 4 pm on a Friday. Why waiting for police to arrive, we exchanged insurance information. I took photographs of the vehicles before being moved and afterward, photographs of damaged. The other driver was insured with USAA. I called USAA to verify the coverage was in effect. USAA refused to verify, but took my information. The following Monday, I called USAA to verify and again was refused. USAA asked me to take my vehicle to their service center (vehicle was drivable but heavily damaged) They told me I could take it to their service center I week from Thursday. I explained that I was 400 miles from home and was going back home on Wednesday and asked if there was a service center in my home town. No there was not. I was then told that if I wanted my vehicle repair, I would find a way to get it to their service center. I told them that was not feasible, and the reply was "That's your problem."
I arrive back home and took my vehicle to my body shop. I called USAA (and recorded our conversation) and advised them where the vehicle was, they said they would send someone out, but never did. Three weeks later my vehicle was repaired and I picked it up. USAA, denied the claim, because I did not take it to the center they wanted me to and did not take it to the body shop they use and did not get approval for the repairs. I paid for the repairs $5500 and the rental car ($1000) I then, had my attorney sue both the driver and USAA. The driver was upset at being sued and even more upset and USAA for not protecting him. The driver then contacted his attorney, who sued USAA.
The depositions were fun. USAA hired local counsel, who showed up for depositions. What USAA told him and what my documentation, unanswered letters and recorded phone calls reflected were two different stories. USAA's attorney was pissed that USAA withheld evidence from him. The final result, USAA was assessed by the court and amount equal to my repairs and rental, plus interest (took almost two years to get to court) all my legal fees, and was assessed an additional $20000 in punitive damages, which under the deceptive trade practice law was automatically trebled. Result $6500 in actual losses, $60,000 to me and $26000 to my attorney.
The other driver won his suit against USAA for failing to defend him and breach of contract. I sure that was settled quite handsomely as well, for both the driver and his attorney.
I fail to see the reasoning why USAA preferred to put out in the neighborhood of $100,000 just to deny responsibility for a $6500 claim.
SAN ANGONIO, TEXAS -- We have had two experiences with USAA Mortgage and it is the most recent that is prompting this review.
Despite fulfilling every request USAA made of us in a timely fashion AND modifying our contract with our seller several times to conform to their requests (needless and redundant requests, accordingly to our real estate attorney), USAA caused us to miss two closing dates and we no longer have a contract. At one point they asked us why certain monies had not transferred--monies that only transfer at closing-a closing they caused us to miss! It is clear that they do not know what happens at closing.
They do not know what they are doing, take days to answer phone calls, and at least in the mortgage services branch of the bank, DO NOT value customer service.
Several years ago I financed a condo through them and was told by my real estate agent that the title agent found them hard to work with. I blew this observation off, because I was so impressed by the customer service in other areas of the company.
However, the nightmare experience we had the last month confirms to me that the phrase"time is of the essence" has no meaning to them and that they could benefit from a trained person to explain their documents to them.
I cannot comment on what percentage of loans they complete without difficulty and what percentage they do a few stupid things with and what percentage they totally flub. However, the fact that they seemed to view their errors as standard operating procedure did not inspire confidence in their quality control.
I suppose whether one chooses them as a mortgage company depends upon how much of a risk-taker one is. As for us, next time we will be a choosing a company where we have a higher certainty of closing on time after weeks of straightforward (as opposed to inexplicable) business dealings.
Worst...mortgage lender...EVER!!! My wife and I have been USAA insurance customers for almost 20 years without a single complaint...their customer service has always been excellent. When we decided a couple months ago to refinance our original VA loan, we looked no further than USAA because of our many years of past experience with them. 45 days into the loan process, we only now realize how big of a mistake we made by selecting them for our mortgage business. There is a HUGE disparity in the quality of their insurance services and that of their mortgage services!!! The loan processor assigned to us was the most incompetent, lazy, and least- knowledgeable financial services professional with whom I have ever dealt. He never answers his phone, never returns messages left in his voicemail, doesn't respond to repeated E-Mail inquiries regarding the status of our loan...and when we finally contacted a "supervisor", she was quick to promise prompt action but dragged her feet for days. Consequently, we've completely missed the closing date that was originally scheduled, and USAA is now requiring documents from us that have never before been needed when we've applied for home loans and are asking the exact same questions of us that we answered more than 30 days ago soon after we first applied to refinance. USAA mortgage services are a scam...they are not at all interested in providing loans at today's low market rates. Don't walk...RUN...away from USAA financial services.
SAN ANTONIO, TEXAS -- USAA makes a great talk but sometimes fails to make the walk.
I will not be renewed on my USAA Home/Fire Insurance.
I will not be renewed on my USAA Renters Insurance.
I will not be renewed on my USAA Auto Insurance.
I never filed a claim on my renters insurance.
I never filed an accident claim on my auto insurance.
I pay my credit cards.
What is the issue?
A criminal conviction for a family member from 7 years ago. USAA "claims" it has a policy to "weed out undesirables" when it "comes to their attention". Funny how that didn't seem to make a difference way back when they "discovered it" but only after they got my home insurance claims.
How much were all my claims? About $35,000 combined.
I filed a claim on my home for a broken window.
I also had my home broken into and a fire resulted from the break in.
I begged USAA to do something before the Alaskan winter set in. Nope. The fire happened in July 2008. Winter set in in Alaska and outside repairs were delayed so my home freezes up.
How did they run the above claims?
As FOUR(4) SEPARATE claims. I suspected they were stacking the deck by running these separately but I trusted them to take care of me.
Boy, did they take care of me!
My house was vacant from July last year until July this year. Just rented it out this month. (PCS'd to my current location July 2007).
USAA is paying for the damages slowly, but I have already paid most of the costs myself. I do not like owing people who work for me.
USAA obviously resents having to pay for ANY damages.
Granted, it is the USAA underwriting department making the call. Basically they told me to go pound sand.
I admit to looking at this from my point of view only. I am shocked at this happening after all the years I spent with USAA and all the good things I passed on to other service members about the how they were inexpensive and a fair company. Many of their employees are.
Top reasons why I will never switch from USAA to Progressive:
In a word USAA understands service.
I have been a loyal customer to USAA, depositing money consistently from my BOA accounts as well as having car insurance through them for my 2 vehicles. In my 30 years I've never had an issue with banking. I've been sent overseas for 3 years and continued online banking: paying bills, making deposits and having insurance. I've been an incredible asset, as well as have incredible credit. I now have a fiancee who I live with who also has USAA: A COMPLETE SEPARATE ACCOUNT. For some reason a deposit of his was red flagged (I don't know why, and honestly I don't care, its not my account) and his account was frozen. By the next day MY PERSONAL ACCOUNT was frozen as well. WHY? because we have the same address.
So my hard earned money, my untarnished years of being a customer have gone to the crapper because of another account???? Are you kidding me? How in god's name do they have the right or the legal ability to keep all my money from me for someone else's account???? This is highly illegal practices, the staff that I've talked to are a joke. After hours of calls to their office I finally find that my account is being shut down??!!??!!
A supposed check will be issued to me with my money, and there is ZERO reason to back this kind of move on their behalf.
Many of you may have USAA, as I have for years......IT WILL HAPPEN TO YOU... they freeze funds, leave you with nothing.....you're left to fend for yourself against this growing evil entity. I'm a full time student and a mom to two little boys and I can't feed them, pay my bills, go to school, for god sakes can't even put gas in my car. This is what I get after years of the highest and best clientelle service to them. I'm left with the words of some insignificant staff member telling me they're sorry, and only god knows when I'll ever see my money ever again.....we're talking thousands.....
USAA IS A SCAM SCAM SCAM!!!!!!!!!!!
If you can't walk in to your banking institution....DON'T BE A PART OF IT! lesson learned.