Consumer complaint received 2015-11-18
Company: UNITED SERVICES AUTOMOBILE ASSOCIATION
State: CA
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Application, originator, mortgage broker

Complaint:
I am having a problem with the USAA Federal Savings Bank in Texas over a mortgage loan. 
Earlier today, I sent an e-mail to the USAA CEO, which I will copy below. Late today I was called by a woman who identified herself XXXX. As part of that conversation, she informed me that if I did not sign and return by tomorrow, XXXX XXXX, a form accepting the points listed in my e-mail below, the loan would be cancelled and if I wanted to purchase a home I would need to re-apply for a loan.To : XXXX XXXX USAA CEOFrom : XXXX XXXX XXXX XXXX Member NumberXXXXXXXXXXXXXXXX ( Cell ) Subject : Failure of USAA live up to its ethical obligations related to a mortgage loan. 
I am a XXXX veteran who has used the services of USAA for 35 years. During this time I have been lead to believe that USAA operated on the principle that they expected my compliance with my verbal word, and USAA would live up to its verbal obligations. 
I have a current application for a mortgage loan. The loan # is : XXXX. 
I am using a Real Estate agent supplied to me by USAAXXXX On the morning of XXXX XXXX, I asked to lock in my interest rate and points. I did not write down the name of the people to whom I spoke as I assumed that the conversation would be recorded. 
My assigned person was not available. I ended up talking to a women who may have been XXXX. She offered me an interest rate of 3.75 % with XXXX a point for a total of {$420.00} for the points. I was pleased with that rate and asked her to confirm, she confirmed the rate and told me she needed to transfer me to another person. 
The male to whom I then spoke had trouble locating my loan documents. He finally was able to locate them, he said, after I gave him the loan number : XXXX. 
He asked me at least twice to confirm the rate and points that I had been quoted. I restated them as I have listed above. 
He then engaged in a conversation with people in the background. I generally was not able to understand that conversation. However, I did hear XXXX male say : " Go ahead and lock him in. " He then informed me that he was going to lock me in. I again requested that he confirm that I was being locked in at 3.75 % and XXXX a point ( {$420.00} ). 
Last Wednesday I received documents from USAA telling me that I had been locked in at 3.75 % and 1.75 % points, or {$5900.00}. 
Yesterday I was informed by XXXX ( ex XXXX ) of the following:1 ) I was believed to have made XXXX XXXX XXXX XXXX telephone calls. One was not recorded and USAA did not know if the 2nd had been recorded. 
2 ) An entry was made in my records that the rate had been locked in on the morning of XXXX XXXX, but no entry had been made as to the percentage and the points. 
Today, XXXX XXXX, I spoke to XXXX ( ex XXXX ). She informed me that an entry had been made in my records as to the interest and the points at 1.75 % of the loan. 
All of this appears to me to be low level people attempting to cover their error. 
This places me in a critical situation. I clearly do not want to be confrontational. But, I expect USAA to live up to its word. 
I need your help. 
Please, XXXXSent early in the morning XX/XX/2015 To : XXXXXXXXXXXXNOTE : USAA has placed us in a bind due to an error. The reality is that I was quoted their rates for a VA loan, when I applied for a conventional loan. They made the error. I did not. Now everything about this purchase is at jeopardy. I did not know that the rate they quoted me was a VA rate and not a conventional rate. 
My wife and I would not and have not considered a loan with almost {$6000.00} in points. 
XXXX XXXX XXXX

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