USAA / horrible mortgage servicing
I have been a member of USAA since 1953, so I never thought I would be complaining about them.
I refinanced my mortgage last year, not knowing (and not being informed) that USAA now uses US Bank as its mortgage server. Based upon years of experience as a commercial customer of US Bank, I want nothing to do with this customer-UNfriendly bank. Had I been informed in advance that US Bank is the mortgage server for USAA, I would NOT have gone through with the refinance.
I have had nothing but trouble with this loan. Never in my life have I been required to pay my property taxes and homeowner insurance into an impound account. USAA now requires this of me. Worse yet, according to US Bank, my annual homeowner insurance premium is $800, when in fact it is only $400. I am being charged double for this error and no matter how many contacts I have had with US Bank, the record is not corrected.
Last month, without legal basis US Bank demanded that I pay $1, 000 additional into the impound account, in order not to increase my monthly mortgage payment. I sent my check immediately - intending to resolve the errors and get a refund later - and it CLEARED MY BANK 4 days later, on December 12th.
Mortgage Statement received yesterday (dated January 16th) reflects NO record of this additional payment, and my mortgage payment has been bumped up, in clear violation of the instructions I received from the US Bank Mortgage customer "service" rep on December 8th.
HORRIBLE, HORRIBLE, HORRIBLE mortgage "servicing, " unless one enjoys being a target of extortion.
After researching complaints of this type, I realize that this is not an isolated incident -- it is the norm.
I urge you NOT to borrow from USAA!
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