Consumer complaint received 2018-09-13
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: UNITED SERVICES AUTOMOBILE ASSOCIATION (CA)

To whom it may concern : I received an invitation to apply for a refinance on our current Home loan through XXXX, to compare it to USAA bank. I received the request in the mail. I'm a veteran and have my auto insurance, home insurance, flood insurance and personal property insurance and credit card all through USAA bank. I called on or about XX/XX/XXXX, to discuss my current situation and see what products USAA bank had available. The gentleman ( Mr. XXXX XXXX ) gave me the information and quoted me an interest rate of XXXX percent and then told me I could buy down the interest rate and he could get me into a loan at XXXX Percent fixed for thirty years. You may request a narrative from USAA bank as the telephone conversation as I was informed was being recorded. 

After accumulating all the information of the products that USAA bank provided, I said to Mr. XXXX XXXX, " I would think about it and get back to you. And by the way, do you sell your home loans to the secondary market as I had so much trouble with " XXXX '' and " XXXX XXXX XXXX '', that I don't trust, and know I couldn't live through that again, as it really did a number on me with all the lies, and I even think I have XXXX as a result of four years of XXXX with them ''. He said : " USAA bank is a savings and loan bank and we own all of our loans and they are serviced by our USAA team at " XXXX '' ; " but we own the loans ''. I then asked could I keep my mortgage payments for the XXXX of each month? He said " absolutely '', that's when I made my mind up that USAA bank will get my loan and it will be serviced by XXXX then I will have everything at USAA bank, a bank and not crooked XXXX. Then I proceeded to give him all the information to see if I qualified for the refinance. He asked me if I would give him permission to pull a credit report. I said yes. He came back and told me ( although he was not to tell me my credit score over the phone, he said ) " I had a XXXX credit score ''. I would qualify for the refinance and he would be sending me out overnight an authorization acceptance to continue with the loan process. I received it via XXXX the next day and received an email from Mr. XXXX XXXX, telling me he had sent it out. I received it then signed it and faxed it back to them. 

Moving ahead a few weeks, I called back to the mortgage department at USAA bank, because I had not heard from anyone for about three weeks and the closing date was getting near. I was told that XXXX XXXX would be handling my loan process. I waited a few more weeks and called telling the mortgage department that I had not heard from XXXX XXXX either and I wanted to talk to her supervisor. USAA bank then directed me to Mrs. XXXX XXXX, her supervisor whom called me and stated she would over see my loan process and if I needed her help to email her and she would get right on it. In addition, I received an email from the director of fulfillment XXXX XXXX, telling me " if at any time your needs or expectations are not being met please call me ''. 

It was like my nightmare started all over again! I'm being told this is going to occur and that will occur and all that I was feeling was here we go again. Like XXXX and XXXX XXXX XXXX. USAA bank is like the rest of the banks! Liars! cheaters ' etc. I was about to back out of the loan process because already we were having so many problems, no one would return my calls, forms needed, not needed, we did not receive that information etc ... etc, it triggered the nightmares I had with XXXX XXXX XXXX and XXXX. I received a call from Mrs. XXXX XXXX and if she didn't step in and call me, I would have cancelled the process and stayed with what I had. A first with XXXX at a two percent loan for the rest of the life of the loan and a second with XXXX XXXX to fix up the reminder of my house because XXXX went out of business and XXXX  XXXX XXXX would not honor what XXXX home loans set up. So I had to borrow on a second to fix the house and make it safe. In XX/XX/2013, the State of California Attorney General stepped in after four solid years and after four years of lies, letters, missing letters, letters to foreclose on my home etc, XXXX XXXX XXXX completely had to wipe out the first second on my home of {$220000.00}, so that I could take out another second to fix the home and be safe. I used XXXX XXXX XXXX because they were a bank that did not take advantage of the TARP. 

After all of the many problems with this new loan. I emailed Mrs. XXXX XXXX asking if she knew if USAA bank sold their loans to the secondary market and she replied with an email telling me the same thing. See email included in this complaint. " Our servicer is XXXX, but we have a specialized USAA team there at XXXX that are trained to work especially with our members. They do not sell USAA loans so you shouldn't have to worry about the servicer changing. I proceeded with the loan! My new loan would be with a bank and not the crooked XXXX. 

On XX/XX/XXXX, I received a letter from XXXX XXXX telling me that my home loan from USAA was sold to XXXX XXXX on XX/XX/XXXX, and no other action is necessary, continue to make payments to XXXX. 

I could not believe my eyes! I would have never in a XXXX years take my business to USAA bank for the refinance or refinance my loan If I had known they would do this! Never! I relied on the fact that Mr. XXXX XXXX, and Mrs. XXXX XXXX told me that USAA was a savings and loan bank and although the servicing was done by XXXX, they ( USAA bank ) will own the loan. I was specific with those two questions : 1. Would my loan be sold to a secondary market and 2. can I keep the 16th of each month for my payment of the new mortgage payment. 

I feel as though in good faith I asked those two questions because two well qualified people would tell me the truth. I would have gotten a straight answer, which was the deciding factor of doing the refinance they would not sell the loan and I could keep the 16th of each month as my payment date. I would have never spent the money on a refinance of several thousands of dollars as the mortgage that I had was at 2 percent for the remainder of the loan. I would keep the first and pay on the old second loan until it was paid for in full.