Consumer complaint received 2021-07-13
Company: UNITED SERVICES AUTOMOBILE ASSOCIATION
State: FL
Product: Mortgage
Sub-product: VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
USAA is my lender. I applied in XXXX for a mortgage. I have been pre approved for one ever since. Lender was aware that I would be moving states and changing jobs. I sold my last home which I financed with USAA for 5 years, always making payments on time. USAA loan officer pre approved me multiple times and assured me I would have no issues getting my loan. On XX/XX/XXXX I received my first job offer for a private company at my new location. I immediately sent the job offer to USAA ( 5 pages of detailed information ) to ask if I would still qualify to buy a home in the amount of $ XXXX or less with that job. Loan officer stated in emails that there were no issues with it. Finally after an extremely difficult time putting offers, we found a home and my offer was accepted by seller over a cash offer they received. Reason was that he is also a veteran and trusted the type of loan so much to reject a cash offer. I received the signed contract on XX/XX/XXXX. I sent it to my loan officer. Process of purchasing started, USAA quickly collected my appraisal fee of {$500.00}, I paid for a thorough inspection of the home including a 4 point, mitigation, mold and WDO. The home passed all inspections last week. Then my loan processor ( different person than loan officer ), asked me about my job and sent my company an employment verification request. My company verified that I was hired for full time as stated before and on the job offer. However, I am a case manager which means that I am not assigned a full case load at first. I finished my training on XX/XX/XXXX and was assigned 4 cases out of 40 I can have. USAA was not satisfied with the explanation from my company because we bill XXXX for XXXX XXXX services. Each case manager has flexibility on their schedule but are required ( in order to continue employment ) to bill at least 33 billable hours per week at the rate of {$22.00} per hour which is my base salary. We also get paid for admin time at {$8.00} per hour for additional duties. There are TOO MANY cases out there, my company has repeatedly told me that I will have no problem working 40 hours or more as many case managers end up working overtime. However, human resources reiterated what the job offer said, and USAA today, tells me that they can not approve me because they can not calculate income. I let them know I took the job because they stated the job offer met all qualifications and that I could have taken other jobs if I wasnt rushed to buy a home and secure financing. I also let them know I can work for my XXXX XXXX and I am waiting to hear back from underwriting to see if this is acceptable. However, I believe the whole process has been deceiving. I have been reassured that my current job would satisfy loan requirements. But I am informed 2 weeks before closing and after spending {$810.00} on inspections, and {$500.00} on an appraisal plus the $ XXXX on earnest money that the bank is after all not satisfied! I am not even sure I will get my earnest money back. Moreover, this will affect the seller who has been nothing but amazing, even giving me $ XXXX on seller concessions ( in this market ), leaving his home with his XXXX children, and wife and now living who knows how expecting the loan to close in 2 weeks. I am deeply embarrassed and ashamed of having put them through this. Then I realize that this should not be the customers fault and that I thought I was dealing with experts when getting pre approved and then having spent XXXX weeks in the process of closing. Not sure how this complaint will help anyone specially me, as I will probably have to lose the house of my dreams, for having trusted my bank I have been nothing but loyal to for more than 10 years. But also, having to now find another job and having removed myself from hiring processes back in XX/XX/XXXX when I accepted this job offer only after USAA verified it would meet my loan requirements. I have impeccable work experience, XXXX credit score, payments always on time, {$120000.00} on my savings accounts, a XXXX XXXX, and a 100 % total and permanent XXXX which is my additional income. Yet, my own bank knowing all this, decides that due to the nature of my on-the-job training, and nature of my job which requires a case manager to become familiar with the job before getting a full case load assigned, 2 weeks later informs me that the document they have had ALL ALONG since XX/XX/XXXX, is disputable and that even after my employer verified that I am hired for full time, and need some time on the job before billing my 40 hours to XXXX XXXX which trust me, I am capable of doing ), they are not satisfied and can not approve me the loan. This is deeply upsetting, not only is this post covid market making it extremely difficult for veterans to get a VA Loan offer accepted by sellers but also finding a job in a few days so I can try and not lose this house, my earnest, and my {$1300.00} already spent, will be nearly imposible. This makes me feel extremely sad, frustrated, and embarrassed and only shows that public service is never honored neither is serving. I really hope that the banks take this processes more seriously starting with the pre approval process instead of pre approving easily to then making buyers and sellers lose their time and money in the process! It appears that their quotas are far more important than integrity to do business, and in a market like this, the customers should be more protected against the banks mistakes and overlooks, not the opposite. I hope this is not happening to a lot of people out there but I can imagine it must be happening to ENOUGH and I wish them the best of luck.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation