Consumer complaint received 2016-01-26
Company: UNITED SERVICES AUTOMOBILE ASSOCIATION
State: NV
Product: Mortgage
Sub-product: VA mortgage
Issue: Application, originator, mortgage broker

Complaint:
We applied for a refinance with cash out from USAA mortgage. I am a 24 year Veteran and assumed USAA was true to its word about working with Military members and families. This turned out not to be the case whatsoever. We prequalified for the refinance and cash out value. Our processor said there should be no problem based on all our information : FICO score, small debt, very good income and equity in the house based on appraisal they received. However, they continued to ask for information they already received, and it got harder and harder to get correct information from them. Could n't get in touch with our processor many times. Phone messages went unreturned. She started giving us excuses that it was stuck here or there. They started playing games with us. Then, she told us it finally went to Title, but then when it was taking weeks and weeks, we wanted an explanation and she said the Title Company could n't find the information they needed on our county assessors website, which by the way, had been sitting on that site for weeks, so they told an outright lie. They sent us the Closing Disclosure with a closing date and a disbursement date. Then a closing document was sent to us with everything laid out for us to see, and the final papers would be sent after we reviewed everything with them. We called our processor and told her we received that document. She seemed stunned and told us to disregard that document and not to contact the name of the person who sent it. More weeks of stalling went by, when we finally called and told them WE WERE CANCELLING THE ENTIRE thing. We pulled out to go with a more reputable, trustworthy company. About a week and a half later, we received a Notice of Action Taken letter from them, informing us that they denied our refinance request based on " Value or type of collateral not sufficient. '' That document was altered from the one they originally sent us in the beginning, because we had to change the amount of the refinance from {$280000.00} to {$270000.00}, for which they said they would refinance us. 
This is such a joke! They did not deny us! We pulled out on them because of their unprofessionalism, their lying and their unscrupulous business tactics! If anyone wants to go on their website and look at all the complaints as well as other complaint sites regarding USAA, you will see the enormity of their problems which they are unwilling to address or fix. All this at the expense of Military members, XXXX XXXX and retired, that have already been through enough, then receive treatment like this from a company that puts themselves out there as some wonderful entity there for the Military. That is an inexcusable ploy and marketing tool to use, based on what is really going on. Do n't believe me? Read ALL the complaints! My complaint is completely true and would be willing to back it up with a polygraph. We request them to change the notice listed on your form, because it is a lie! and they will be responsible for any damage to our credit or financial dealings.

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