Gloria M.
ArizonaMember since July 2019

Reviews (1)

    • Jul 20, 2019
    • Verified Reviewer

    USAA Mortgage

    Irresponsible mortgage loan handling

    I began contacting USAA for information on refinancing our mortgage loan to a VA loan. My husband and I spoke to Tom Cisneros (210) 443-6844. Our inquiry about the loan went from just information completing an application online and authorizing USAA to review our credit report. We discussed our income our debts, and the reason for the refinance. We had mentioned that we were not going to be in town due to a planned vacation and wanted to take care of everything before we left on 6/21/219. After providing all the information over the phone, I was to wait for a call from a person who arranged home appraisals at a cost of $600 with no refund. At any point during the conversation did Mr. Cisneros mentioned a required minimum credit score for a VA loan and when provided our estimated score, we were never told "your score does not meet the VA requirements." However, we did authorize access to our scores. We also received preliminary loan documents with an estimated interest rate for a 30-day period.

    Mr. Cisneros called me a couple of days later and talked about someone named Henry about scheduling the appraisal and he said are you sure you want to do this, and not knowing that we did not meet VA requirements, we felt that we must be in a good place to proceed so we did and paid $600 for the appraisal.

    Again, never did Mr. Cisneros or the Loan Processor assigned to our application, Lakyma Taylor questioned our credit score as being an issue. I provided Ms. Taylor with a list of documents needed as part of the loan application. The final document requested was a termite inspection and invoice...After that conversation, and not getting information that we may not qualify, I scheduled the termite inspection and work at a cost of $1500. A couple of days later I emailed Ms. Taylor with the inspection report and invoice. A couple of days later I received a call from Ms. Taylor informing me that the loan would not go through because of our credit score not meeting VA requirements of 700 and that we were short 1 point. I pleaded with her to speak to the reviewers about our situation since we were never told this and had invested so much money already.

    She said she would check but did not think it would change. Conversations were all recorded by USAA.

    We feel very disrespected and not valued as a customer because of this treatment that was irresponsible, careless, and could have been prevented had someone said something about our qualifications, we would have thanked them and move forward. But after the cost of $2,100 investment on an application that USAA loan processor was aware I am disappointed, angry and do not recommend USAA for any type of business. I email CEO Stuart Parker on 621/2019 and cc Mr. Cisneros, his supervisor Mr. Struve, Ms. Taylor and her supervisor Ms. Montgomery; all which never replied to my email. I called Mr. Cisneros once more on 6/21 before we left on our vacation. Upon our return, in our mail we found two letters that were pre-generated one addressed to my husband Paul Mahoney and one to me stating the reason for not qualifying.

    Again, this has been a horrible experience, and I am still waiting for a call back regarding our loan application and the cost incurred by the irresponsible and mediocre service to customers and that we received!

    Bottom Line: No, I would not recommend this to a friend

    4 people found it helpful

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