USAA Ratings and Reviews

Customer reviews for brand_bank_loan_refinance_my_home (Unknown)

brand_bank_loan_refinance_my_home (Unknown)

Overall rating:
3.346 / 5
3.3
 / 
5
(645 reviews) 641
Open Ratings Snapshot
Rating breakdown 645 reviews
5 Stars
313
4 Stars
47
3 Stars
34
2 Stars
52
1 Star
199
388 out of 64560%customers recommend this product.
Customer questions and answers:
49 Questions | 50 Answers
Customer reviews for (Unknown)
Review 1 for (Unknown)
Overall rating 
2.0 / 5
2.0 / 5

What Has Happened To USAA Mortgage?

Written on2/26/14
Customer avatar
Jeff Reynolds
fromNorthern Virginia
Military Affiliation:Retired
Military Branch:Army
Features 
2.0 / 5
2.0 / 5
Customer Service 
2.0 / 5
2.0 / 5
My experience was flat out unsatisfactory for what I expected from USAA. Multiple document requests from multiple processors, appeals to supervisors who didn't return calls, and delayed closing documents that weren't ready until the night before closing. My prev experience in 2004 was fine, but now it's not the same company. Personnel seem inexperienced and unsure, there is no sense of urgency, and there is no overall "take charge" case manager. You're assigned a "processor" but you'll be contacted by others and asked to provide documents that you sent in previously. Internal coordination lacking. Even the wire transfer to fund the loan on closing day was muddled; confusion over whether the 3-day right to recission prevents wiring funds prior to the 3-days expiring. My bank tried to wire funds to a USAA account that wouldn't accept them at first. In the end we closed at a good rate but I couldn't recommend this firm now to anyone. Their insurance is great but banking, not so much.
No, I do not recommend this product.
Response from USAABy USAAModerator2/27/14
Your membership and trust are important to us and we regret your experience was not more in keeping with your previous business history with USAA. We know that a good interest rate does not take the place of excellent customer service; rest assured your concerns will be reviewed by management and addressed with the appropriate personnel. Thank you for taking time to write a review.
+1point
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Review 2 for (Unknown)
Overall rating 
5.0 / 5
5.0 / 5

VA loan refinance

Written on2/21/14
Customer avatar
BooBoo Puppy
fromBremerton WA
Features 
5.0 / 5
5.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
I expected the re-fi to take longer to complete based on previous customer comments. Our transaction, from beginning to end, took 34 days. USAA bent over backwards to make this easy for us. My questions were answered immediately and completely to my satisfaction. I highly recommend USAA for any of your financial requirements.
I recommend this product.
0points
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Review 3 for (Unknown)
Overall rating 
1.0 / 5
1.0 / 5

Mortgage Refinance Quote

Written on2/18/14
Customer avatar
Dave in DC
Features 
1.0 / 5
1.0 / 5
I just went through the online quote process for the refinance of a primary residence (single family attached home, ie, townhouse). The website provided 30 year fixed, 15 year fixed, 5-1 ARM, and FHA loan options. However, all loans were capped at $417K, despite my online data which clearly indicated I would need a "high balance" or "jumbo" loan product. Frustrating. It did say, "not all products are offered online, contact a representative..." It is not easy or appropriate for me to conduct personal business during a normal work day, lasting 12+ hours. That's why I was hoping to get some personal business done tonight, when it is more convenient for me. Oh well. Guess I'll have to figure it out later.
No, I do not recommend this product.
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Review 4 for (Unknown)
Overall rating 
5.0 / 5
5.0 / 5

I think USAA is listening and improving

Written on2/9/14
Customer avatar
MRoth12
fromSeattle, WA
Military Affiliation:Brat
Military Branch:Navy
Features 
5.0 / 5
5.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
In a nutshell, I had an outstanding refinace experience with USAA. I'd read earlier reviews about struggles people had with USAA and so instead of using them as my only option (as I do with their other services), I included them as one of my options. I ended up going with them, and had everything closed within 3 weeks.
Based on my experience, I believe USAA has listened to the feedback given and is working on figuring out how to balance good customer experience, and protecting us (other members) from bad investments.
The only glitch I felt was my USAA point of contact emailing me, letting me know what documents were needed, sooner than the 'electronic system' would update the same info. This resulted in me getting multiple requests for the same documents. My point of contact stayed in good contact with me and we worked through it.
I also really appreciated their "road map" of where we were in the process, outlying what they needed from me and what they were working on.
I recommend this product.
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Review 5 for (Unknown)
Overall rating 
2.0 / 5
2.0 / 5

Something is wrong with this company

Written on1/24/14
Customer avatar
GaryAH
Military Branch:Army
Features 
3.0 / 5
3.0 / 5
Customer Service 
1.0 / 5
1.0 / 5
Have been with this company for decades and family history extends over 50 years. Never had a problem till last few years.Latest refinance was painful. Incompetent management, delays, poor response by representatives. Since then have had recurrent problem of not getting monthly bills in mail. Was switched to on-line bill notification without consent or notification. A few months of normal service then I get no mailed mortgage statement for several months. As the previous error had resulted in me overpaying for the year I figured when a payment was due I would get a bill. Wrong. They did manage to mail a delinquent notice with a late fee added. Called, got a lecture about paying bills on time. Rep unhelpful and treated me like a bum. Repeatedly blocked from fixing it myself on line. I still think insurance arm is good. However, something has gone really wrong over the past couple of years with the banking division of this company and I don't think the board is paying any attention.
No, I do not recommend this product.
Response from USAABy USAAModerator1/31/14
We would like the opportunity to assist you in any way possible regarding this matter. We are reviewing the situation and will be contacting you shortly to discuss our findings. Thank you for taking time to write about your concerns.
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Review 6 for (Unknown)
Overall rating 
5.0 / 5
5.0 / 5

Easy refinance

Written on11/26/13
Customer avatar
S. Judy
fromOklahoma
Military Affiliation:National Guard
Military Branch:Air Force
Features 
5.0 / 5
5.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
I must admit that after reading some of the reviews, I had doubts about refinancing through USAA. But I have been with USAA for almost ten years and I have never been disappointed. Additionally, I was aware of the historically low interest rates which had created a high demand for refinancing, so I was prepared for delays. It could not have been a better experience! I submitted my application on 10/23/13 and received initial approval the following day. On 10/25/13 I was contacted by the mortgage processor, who told me what he needed from me. I received a packet of forms the next day through FedEx for me to complete and return. The mortgage processor was in contact with me throughout the entire process and was always quick to answer all of my questions. We were scheduled to close on 12/2/13. We closed on 11/21/13 and funding was in place on 11/26! So I went from filling out an online application to close in less than one month, and completely finished in 34 days!
I recommend this product.
+1point
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Review 7 for (Unknown)
Overall rating 
1.0 / 5
1.0 / 5

This is a joke

Written on11/19/13
Customer avatar
Suzanne106
fromRancho Santa Margarita
Features 
1.0 / 5
1.0 / 5
Customer Service 
1.0 / 5
1.0 / 5
First they sent out an incompetent appraiser. Second, neither the processor nor the u/w knows how to calculate income so they had to ask for a verification of income (still waiting) because our DTI was too high. Ironically, we are doing this loan to pay off debt! Then come to find out the loan parameters have changed greatly since we refinanced 10 yrs ago; they no longer pay off debt through the loan (hence the DTI issue). Keep in mind, they already have our mortgage so this should have been a slam dunk. Unfortunately, the processor is not the "take charge" type so I'm having to do a lot of follow up. Now granted, we cancelled the loan last week for all of 2 days, after the appraisal and income issues and finding out the loan parameters had changed, we didn't feel comfortable proceeding. At this point, I'm not sure where things stand. Very disappointing.
No, I do not recommend this product.
Response from USAABy USAA moderator11/25/13
While lending parameters have changed, USAA strives to provide appropriate solutions and stellar service. We are sorry your experience has been less than exceptional. A mortgage representative will contact you shortly to discuss your experience and create a plan for improved service.
+4points
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Review 8 for (Unknown)
Overall rating 
4.0 / 5
4.0 / 5

Good Product, Not Great

Written on11/14/13
Customer avatar
kfarnsworth44k
fromIndianapolis, IN
Military Affiliation:Family
Military Branch:Air Force
Features 
4.0 / 5
4.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
First off, let me start by saying that the refinance process with USAA is far from perfect. There were times when documents were requested from me multiple times (from different people).
USAA was competitive when compared to other refinance companies. They weren't the best/cheapest, but they were far from the worst/most expensive.
From my application to my close date, it took just about 60 days (a little over because of our wedding/honeymoon), otherwise it would have been less than 60 days. USAA was able to extend our rate lock period with no cost to us.
Everyone throughout the process was pleasant and easy to deal with. USAA was very accommodating when it came to the timing and closing process.
The only drawbacks would be the amount of paperwork (which is probably due more to government regulations) involved and the occasional miscommunication between either USAA departments or USAA and some of the vendors that they use. I don't think another company would have been any better.
I recommend this product.
+2points
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Review 9 for (Unknown)
Overall rating 
3.0 / 5
3.0 / 5

Scared of refinancing

Written on10/23/13
Customer avatar
jw51m
fromZillah, WA
Military Affiliation:Family
Features 
3.0 / 5
3.0 / 5
Customer Service 
2.0 / 5
2.0 / 5
I am a prime candidate to refinance. Plenty of equity, high credit score, low interest rates. But honestly I am scared to start the process based on the reviews.
Why isn't USAA dealing with the issues here? How about a public acknowledgment of the problem from the CEO of USAA and how they plan to fix it. Or has USAA grown to the point that there are too many bureaucratic issues, especially in the mortgage side of the company.
Hope this gets posted.
No, I do not recommend this product.
Response from USAABy USAAModerator10/25/13
The feedback provided here about mortgage experiences does not go unnoticed. To live up to your and our expectations of best in class service, we've hired additional mortgage representatives and continue to evolve our processes. Please know the vast majority of members have a good mortgage experience but we know others do not--and one problem is a problem too many for us. A Member Advocate will be contacting you to discuss this in greater detail and answer any additional questions. We value all member feedback and sincerely appreciate the opportunity to address your concerns and restore your confidence.
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Review 10 for (Unknown)
Overall rating 
1.0 / 5
1.0 / 5

Why give false hope when its not necessary?

Written on10/3/13
Customer avatar
Spaced out
fromBrooklyn, New York
Military Affiliation:Retired
Military Branch:Air Force
Features 
5.0 / 5
5.0 / 5
Customer Service 
1.0 / 5
1.0 / 5
My overall review of the process is just like all the rest of the complaints, this seems to be routine with USAA, delays,false promises of closing, stalling tactics,changing dates, changing amounts, repeat request for documents already given, one hand does not seem to know what the other is doing. USAA home page is very good with promises that are not kept. This started in April of 2013 and as of this day October 3 2013--no results more delays.
I recommend this product.
Response from USAABy USAAModerator10/21/13
Thank you for taking the time to provide your feedback. A member advocate was assigned to coordinate an expedited closing and it appears your loan has closed! We regret the long processing time and thank you for your patience. USAA strives to provide an excellent member experience and we continually work to improve our processes to ensure we meet that goal.
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Review 11 for (Unknown)
Overall rating 
1.0 / 5
1.0 / 5

Refinance of Mortgage

Written on9/9/13
Customer avatar
nightmare1
Features 
1.0 / 5
1.0 / 5
Customer Service 
1.0 / 5
1.0 / 5
We are in the process of refinancing our Mtg. I do understand that our property is not your typical property but delay after delay.We have jumped though the hoops, 28 to be excact,thrown in front of us. Taken off several days to do what most companies do themselves. Our package has been to the underwriters once and now we are again jumping to demands for more docs. All we are getting is finger pointing on who's fault it is that we still have not closed nor do we look like we are any closer. If for not the lock on the rate and hundreds of dollars I have already shelled out I think I would have ended this process awhile ago. I sure hope this is not a sign of the "Excellent" customer service USAA raves about all the time. Let me guess yor response USAA. We are forwarding this for review and are very sorry for your dissatifaction...translation.... we have so much other business we really dont care!
No, I do not recommend this product.
Response from USAABy USAAModerator10/25/13
We assigned a Member Advocate who worked with management to find resolution; it appears your loan has closed. That is good news!

USAA is dedicated to provide an exceptional member experience and apologize that you did not feel we accomplished that goal. We appreciate your feedback and thank you for your continued membership.
+2points
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Review 12 for (Unknown)
Overall rating 
1.0 / 5
1.0 / 5

Delays, incompetence, waste of time

Written on8/23/13
Customer avatar
nsok123
Features 
3.0 / 5
3.0 / 5
Customer Service 
1.0 / 5
1.0 / 5
I know things have changed since 2007, but surely not this bad. My first mortgage through USAA was great. Few hassles & friendly folks. My refinance has been one of the worst experiences I've ever had with a company.
Without nitpicking little things like the structure of email communication or timing/timeliness of responses, the feeling of mistreatment of a long time customer with many, significant financial ties to the company is the worst part.
The constant demand for more documentation is awful. The scope of the requirements wasn't made clear until they had my earnest money. Then, it was laid out in a way that was confusing and piecemeal.
The logic makes no sense. Good credit, no debt and significant income/cash to loan ratio makes this a no brainer, yet I am being treated like I am asking for the sun, moon and stars. The salt in the wound is the incessant and redundant paperwork and confusing communications from staff. Started May 31 and on August 23, it’s still not done.
No, I do not recommend this product.
Response from USAABy USAAModerator9/3/13
We shared your review with management responsible for your file. As you pointed out, underwriting guidelines have changed since you closed on your last loan. However, the process should still involve clear communication and no redundancy. Research on your file was provided to management for review so that gaps in service could be addressed.

Thank you for taking time to write a review. We value your membership and regret any inconvenience you have experienced during this process.
+5points
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Review 13 for (Unknown)
Overall rating 
1.0 / 5
1.0 / 5

Bewildered by delays

Written on8/11/13
Customer avatar
Stressed67
Features 
2.0 / 5
2.0 / 5
Customer Service 
1.0 / 5
1.0 / 5
We started our refinance process near the end of April, trusting everyone because this was USAA. Big mistake! It is August, and the promised "next week" closing keeps moving ahead, while they have misplaced our documents and errors weren't corrected until after some other item became "expired". Stalling tactics. We did everything asked of us promptly, within a day or two. Both their trust company and title company have failed in due diligence. Now we are told that our title has expired, just when we were a few days from yet another promised closing. How does a title expire? All delays have been on their end. We have planned our budget since April, with expectations of the promised speedy closing. Now we have lost money because of that and delays caused by their incompetence. Somehow, I get the feeling that they want us to withdraw, but we won't do that without professional help first.
No, I do not recommend this product.
Response from USAABy USAAModerator8/16/13
Thank you for taking time to write a review. The last thing we want you to do is withdraw your loan! Some refinance scenarios are more complex than others are and delays could cause required documentation to expire. A member advocate will contact you to provide a status update. Our goal is to close your loan as soon as possible—that’s the win-win solution we want.
+3points
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Review 14 for (Unknown)
Overall rating 
3.0 / 5
3.0 / 5

Once bitten twice shy

Written on8/9/13
Customer avatar
tink361
Military Affiliation:Retired
Military Branch:Marine Corps
Features 
3.0 / 5
3.0 / 5
Customer Service 
3.0 / 5
3.0 / 5
I had previously refinanced with USAA and it was not pretty. Unfortunately, I wanted to do a cash out refinance and USAA was the only company that would do it. BLUF, USAA needs to fix its processes. Before you are assigned a processor they call you once a week to check in. As stated previously if you ask any questions they can not answer them. When you are assigned a processor the check in calls go away and it is radio silence. Seems as though it should be the opposite. My processor did not read or respond to her e-mail within 24 hours much less 96 hours. I find that frustrating. Having refinanced in the past I can't say that other companies are more proficient. You always get the impression the processors are over worked and under paid regardless of company. I guess I thought USAA would be different, more professional. They weren't.
No, I do not recommend this product.
Response from USAABy USAAModerator8/12/13
A member advocate will contact you to discuss your individual loan details. USAA strives to achieve 100% member satisfaction, and regret we fell short of our goal. The good news is your loan has closed! Thank you for offering your feedback and taking the time to let us know of your situation. We value your membership and appreciate the time you took to comment.
+2points
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Review 15 for (Unknown)
Overall rating 
5.0 / 5
5.0 / 5

Exceeded Expectations

Written on8/8/13
Customer avatar
Litestride
Military Affiliation:Active
Military Branch:Army
Features 
5.0 / 5
5.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
I was extremely hesitant about refinancing with USAA, especially after reading the reviews. I was still on the fence about whether paying closing costs outweighed a lower interest rate and monthly payment, but I figured if the reviews were true, and everything was slow, I had time to make my decision. Not true. I submitted my application online and the next day my process server Stefanie called to say she had sent out my paperwork. I received it the following day with a prepaid overnight return envelop. I held on to the paperwork for several days because I was still undecided. Stefanie followed up with a call and email to make sure I had no questions. Surprisingly, someone from the title company also contacted me in the first few days to tell me they could reuse some of the forms from my original loan to save money. No appraisal required. Closing was set 4 weeks from I received the forms. I was going to be out of town so they moved it up. Jacklyn took over closing day and was great!
I recommend this product.
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Review 16 for (Unknown)
Overall rating 
5.0 / 5
5.0 / 5

Straight Forward

Written on8/3/13
Customer avatar
amadome
Military Affiliation:Separated
Military Branch:Air Force
Features 
5.0 / 5
5.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
Switched mortgage, pretty smooth sailing, pay my own taxes nothing in escrow big plus, thanks for the help.
I recommend this product.
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Review 17 for (Unknown)
Overall rating 
1.0 / 5
1.0 / 5

Even after the closing they can't get it right

Written on7/23/13
Customer avatar
mom2littledude
Customer Service 
1.0 / 5
1.0 / 5
Our refinance was a nightmare, too many mistakes to even list. I thought when we closed that the nightmare would be over however it just continues. We were sent wrong first draft amount papers with no corrected ones ever sent and now they are drafting payments from the wrong account due to their error. Once again I have to spend my time and energy cleaning up their mess. Leaves me to have very little confidence in USAA with whom I have been for MANY years.
No, I do not recommend this product.
Response from USAABy USAAModerator 7/26/13
A Member Advocate has engaged your loan servicer for resolution. We regret that the service you received did not warrant a Five-Star rating. We look forward to restoring your confidence in USAA and appreciate your patience while we work to correct the situation. Thank you for alerting us to your concerns.
+3points
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Review 18 for (Unknown)
Overall rating 
2.0 / 5
2.0 / 5

Huge Disappointment, High Fees

Written on7/2/13
Customer avatar
Zenny721
Military Affiliation:Active
Military Branch:Air Force
Features 
2.0 / 5
2.0 / 5
Customer Service 
4.0 / 5
4.0 / 5
Despite poor reviews we decided to use USAA bc they have always been wonderful to us and we TRUST them. We were in the middle of a PCS so communication was key!
Big red flag we should have not overlooked is that we HAD to get an appraisal and credit underwriting. Point of IRRL program is that you don't (roughly cost us $600), and they charged US to pull our credit. We could choose our own title co, process would take longer; rep told me that USAA's title co was great & on avg cost ($800-1000); it cost us nearly $2k. At closing, we owed $500 on the spot (that we were unaware of); it was explained, sort of, but we still do not fully understand why. Wrong info on docs. Docs had to be re-signed b/c the faxes b/t their dept's were crummy. In order to find anything out I had to call and ask.
Overall, poor experience. The only upside to this refi is that we locked in a good rate before the spike, all our bills will finally be in one place, & the reps are always pleasant on the phone.
No, I do not recommend this product.
Response from USAABy USAAModerator7/3/13
Thank you for taking the time to provide your feedback. Although the VA may not require an appraisal on VA IRRRL refinances, USAA investors require an appraisal in order to insure their investment. We have forwarded your comment to a member advocate who will call you to talk about the other items you wrote about. We appreciate your review and regret any inconvenience caused by the refinance process.
+3points
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Review 19 for (Unknown)
Overall rating 
1.0 / 5
1.0 / 5

Convoluted, Confusing and Frustrating

Written on7/2/13
Customer avatar
mrmartin
Features 
1.0 / 5
1.0 / 5
Customer Service 
1.0 / 5
1.0 / 5
While I think USAA is a great bank and investment house, I would NOT recommend their mortgage services. First, they do not hold the mortgage. They merely process and then sell them. And it takes FOREVER!!! I started my refinance on May 28th. It is now July 1st and they are saying I can hope to close by July 30th or so. 60 days? Crazy. They call you every week to 'check in' but if you have any questions, the folks who called you can't answer. They put you on hold for the next person and that person can only read your file and say, "yes, we have that" They cannot tell you anything further about the process. It is only after your file has been assigned to a mortgage specialist that you can speak to someone who knows anything. It's a crazy hot mess and I would not recommend it at all!!!
No, I do not recommend this product.
Response from USAABy USAAModerator7/12/13
Thank you for taking the time to write a review. We are working to reduce the processing window and appreciate your continued patience while we get everything in order on your file. We have forwarded your concerns to the appropriate department to have a processor assigned in order to expedite the handling of your file. We look forward to getting your loan underwritten and closed as soon as possible.
+3points
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Review 20 for (Unknown)
Overall rating 
5.0 / 5
5.0 / 5

Awesome service -- post may clear frustrations

Written on6/28/13
Customer avatar
lmederos
fromMountain View, CA
Features 
4.0 / 5
4.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
I read through the reviews as we started our refinance. I decided to give USAA a shot, and called a number listed. The person was courteous, but very difficult to reach.
I called USAA Banking to "let them have it." The person listened patiently, and then asked me what number I had called first to do the refinance process. She explained that there were issues with the sheer number of applications received in 2013; some processors were actually contractors working with USAA --- that was the case for my first try
She then mentioned that I had reached USAA idirectly now, and that if I wished to refinance it would remain directly with USAA staff through closing, and I agreed.
No regrets. Online status, and the service from my processor Ashley P. were outstanding. They listened to what I needed, and we are scheduled for closing in 3 days, in our patio !! I can understand that non-USAA staff may have been a less than great decision by USAA, but the market may have driven that.
I recommend this product.
-1point
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