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vpelletier.
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August 14, 2010 at 5:49 AM #591719June 21, 2011 at 11:18 AM #705178
Anonymous
GuestMy husband and I contacted USAA last summer in hopes of combining our mortgage/home equity loan. The USAA agent informed us that we would not be able to do this since we did not meet the 80/20 investment ratio; so, we refinanced only the mortgage at a lower rate.
Now, two other financial institutions have told us that we could have received a Veteran’s loan, allowing us to combine the loans due to its 90/10 ratio. My husband also has a VA disability, so the VA Funding Fee would be waived. USAA failed to inform us of the VA option last summer and it has cost us hundreds of dollars a month.
When we contacted USAA a few weeks ago, the agents admitted that a mistake had been made last year and they admitted that only half of their mortgage agents were trained in handling VA loans. This is outrageous since most USAA clients are veterans and VA eligible!
Because we have been USAA members for more than 25 years, we decided to give USAA one more opportunity to make this right, and we began the refinance option with VA. Of course, as I expected, the housing market has further declined since last summer. Our home appraised $50K less in one year.
This is a huge lesson — do your homework about VA loans or any loan/interest rates/et because financial institutions, such as USAA, are not the experts they claim to be. I am extremely disappointed in USAA and do not trust them to handle my finances.
June 21, 2011 at 11:18 AM #705274GuestMy husband and I contacted USAA last summer in hopes of combining our mortgage/home equity loan. The USAA agent informed us that we would not be able to do this since we did not meet the 80/20 investment ratio; so, we refinanced only the mortgage at a lower rate.
Now, two other financial institutions have told us that we could have received a Veteran’s loan, allowing us to combine the loans due to its 90/10 ratio. My husband also has a VA disability, so the VA Funding Fee would be waived. USAA failed to inform us of the VA option last summer and it has cost us hundreds of dollars a month.
When we contacted USAA a few weeks ago, the agents admitted that a mistake had been made last year and they admitted that only half of their mortgage agents were trained in handling VA loans. This is outrageous since most USAA clients are veterans and VA eligible!
Because we have been USAA members for more than 25 years, we decided to give USAA one more opportunity to make this right, and we began the refinance option with VA. Of course, as I expected, the housing market has further declined since last summer. Our home appraised $50K less in one year.
This is a huge lesson — do your homework about VA loans or any loan/interest rates/et because financial institutions, such as USAA, are not the experts they claim to be. I am extremely disappointed in USAA and do not trust them to handle my finances.
June 21, 2011 at 11:18 AM #705870GuestMy husband and I contacted USAA last summer in hopes of combining our mortgage/home equity loan. The USAA agent informed us that we would not be able to do this since we did not meet the 80/20 investment ratio; so, we refinanced only the mortgage at a lower rate.
Now, two other financial institutions have told us that we could have received a Veteran’s loan, allowing us to combine the loans due to its 90/10 ratio. My husband also has a VA disability, so the VA Funding Fee would be waived. USAA failed to inform us of the VA option last summer and it has cost us hundreds of dollars a month.
When we contacted USAA a few weeks ago, the agents admitted that a mistake had been made last year and they admitted that only half of their mortgage agents were trained in handling VA loans. This is outrageous since most USAA clients are veterans and VA eligible!
Because we have been USAA members for more than 25 years, we decided to give USAA one more opportunity to make this right, and we began the refinance option with VA. Of course, as I expected, the housing market has further declined since last summer. Our home appraised $50K less in one year.
This is a huge lesson — do your homework about VA loans or any loan/interest rates/et because financial institutions, such as USAA, are not the experts they claim to be. I am extremely disappointed in USAA and do not trust them to handle my finances.
June 21, 2011 at 11:18 AM #706021GuestMy husband and I contacted USAA last summer in hopes of combining our mortgage/home equity loan. The USAA agent informed us that we would not be able to do this since we did not meet the 80/20 investment ratio; so, we refinanced only the mortgage at a lower rate.
Now, two other financial institutions have told us that we could have received a Veteran’s loan, allowing us to combine the loans due to its 90/10 ratio. My husband also has a VA disability, so the VA Funding Fee would be waived. USAA failed to inform us of the VA option last summer and it has cost us hundreds of dollars a month.
When we contacted USAA a few weeks ago, the agents admitted that a mistake had been made last year and they admitted that only half of their mortgage agents were trained in handling VA loans. This is outrageous since most USAA clients are veterans and VA eligible!
Because we have been USAA members for more than 25 years, we decided to give USAA one more opportunity to make this right, and we began the refinance option with VA. Of course, as I expected, the housing market has further declined since last summer. Our home appraised $50K less in one year.
This is a huge lesson — do your homework about VA loans or any loan/interest rates/et because financial institutions, such as USAA, are not the experts they claim to be. I am extremely disappointed in USAA and do not trust them to handle my finances.
June 21, 2011 at 11:18 AM #706385GuestMy husband and I contacted USAA last summer in hopes of combining our mortgage/home equity loan. The USAA agent informed us that we would not be able to do this since we did not meet the 80/20 investment ratio; so, we refinanced only the mortgage at a lower rate.
Now, two other financial institutions have told us that we could have received a Veteran’s loan, allowing us to combine the loans due to its 90/10 ratio. My husband also has a VA disability, so the VA Funding Fee would be waived. USAA failed to inform us of the VA option last summer and it has cost us hundreds of dollars a month.
When we contacted USAA a few weeks ago, the agents admitted that a mistake had been made last year and they admitted that only half of their mortgage agents were trained in handling VA loans. This is outrageous since most USAA clients are veterans and VA eligible!
Because we have been USAA members for more than 25 years, we decided to give USAA one more opportunity to make this right, and we began the refinance option with VA. Of course, as I expected, the housing market has further declined since last summer. Our home appraised $50K less in one year.
This is a huge lesson — do your homework about VA loans or any loan/interest rates/et because financial institutions, such as USAA, are not the experts they claim to be. I am extremely disappointed in USAA and do not trust them to handle my finances.
June 21, 2011 at 12:51 PM #705198briansd1
GuestI’m not surprised.
In any big organization, each area is separate and the incentives for salespeople have nothing to do with relationship.
Put yourself in the position of a mortgage adviser who’s paid commission. Your job is to work based on your incentives.
What do you care if the customer has been with the bank 20 or 30 years?
June 21, 2011 at 12:51 PM #705294GuestI’m not surprised.
In any big organization, each area is separate and the incentives for salespeople have nothing to do with relationship.
Put yourself in the position of a mortgage adviser who’s paid commission. Your job is to work based on your incentives.
What do you care if the customer has been with the bank 20 or 30 years?
June 21, 2011 at 12:51 PM #705890GuestI’m not surprised.
In any big organization, each area is separate and the incentives for salespeople have nothing to do with relationship.
Put yourself in the position of a mortgage adviser who’s paid commission. Your job is to work based on your incentives.
What do you care if the customer has been with the bank 20 or 30 years?
June 21, 2011 at 12:51 PM #706041GuestI’m not surprised.
In any big organization, each area is separate and the incentives for salespeople have nothing to do with relationship.
Put yourself in the position of a mortgage adviser who’s paid commission. Your job is to work based on your incentives.
What do you care if the customer has been with the bank 20 or 30 years?
June 21, 2011 at 12:51 PM #706405GuestI’m not surprised.
In any big organization, each area is separate and the incentives for salespeople have nothing to do with relationship.
Put yourself in the position of a mortgage adviser who’s paid commission. Your job is to work based on your incentives.
What do you care if the customer has been with the bank 20 or 30 years?
June 21, 2011 at 4:54 PM #705238DataAgent
Participantcdkmom…
Is your existing mortgage a VA loan? If not, I’m not sure you can refi a non-VA loan into a VA loan. The VA program was designed to help GIs buy homes with low down payments. The VA refi process is a whole different animal.June 21, 2011 at 4:54 PM #705334Participantcdkmom…
Is your existing mortgage a VA loan? If not, I’m not sure you can refi a non-VA loan into a VA loan. The VA program was designed to help GIs buy homes with low down payments. The VA refi process is a whole different animal.June 21, 2011 at 4:54 PM #705929Participantcdkmom…
Is your existing mortgage a VA loan? If not, I’m not sure you can refi a non-VA loan into a VA loan. The VA program was designed to help GIs buy homes with low down payments. The VA refi process is a whole different animal.June 21, 2011 at 4:54 PM #706082Participantcdkmom…
Is your existing mortgage a VA loan? If not, I’m not sure you can refi a non-VA loan into a VA loan. The VA program was designed to help GIs buy homes with low down payments. The VA refi process is a whole different animal. -
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