New Reviewer

USAA rub stamps loans not VA lendable

USAA Mortgage is supposed to be an advocate for veterans and military members. THEY clearly are not. We qualified for a VA Mortgage loan in 2006 - the VA inspector did not actually inspect the property, it was jerry rigged with bad water, black mold hidden, bad electrical, easement issues left and right, no water, septic on neighbors property and the list goes on. When we started to be aware of these issues 10 days after closing and then found out that USAA robo signed our mortgage documents with a water report that was not even from the subject property - we were furious. USAA did not indemnify and revoke the contract - assist us or anything. The property did not meet any of the VA lending requirements that you think USAA of all lenders would be familiar with of all things. So now we have a foreclosure and can't even buy another home. USAA hangs up on us - the VA sends us through multiple transfers until we end up disconnected. We are victims of contract fraud and USAA and the VA cannot even sell the property for $199,000 and we had bought it for $417,000 in 2006. Buyers beware and trust no one, especially real estate agents, the VA and USAA - another greedy corrupt bank.
View full review
2 comments
#544350

Usaa says you must use their appraiser and won't accept a non usaa appraisal done 30 days prior. Btdt!

I'm with you Brutha! Asked for a mortgage from usaa on home just paid off to user mtg company. Refused-said since the house was paid off through usaa, they were unable to remortgage the home. Took a home equity loan from usaa.

6 weeks later, usaa renamed the loan a mortgage without homeowner input and sold the mortgage to Gmac, shadiest mtg company around. Since I was going overseas, I paid the mtg payments 2 years in advance. Got a call from gmac as to why I wasn't making mtg payments on time? Asked them where the 2 years advance payments went?

Usaa kep them and didn't apply them to the account record when selling the mtg to gmac. Took me two years of threats from gmac to get usaa to clear it up. Definitely tells you the pres of usaa certainly has a great handle on his company!

Oh wait! The pres is only at usaa about 30 minutes a week!

#479017

So blame USAA for your choice of inspector or appraiser?! If you were spending that much money on a home, then why not get a second opinion?

Didn't want to spend the money?

Then you want USAA to insure the dump? Penny wise and dollar ***.....

View more comments (1)
ID
#310045 Review #310045 is a subjective opinion of poster.
Location
Seattle, Washington
Service
Usaa Mortgage