My name isTosha Mascroft and we were pre approved for a mortgage loan 4-5 weeks ago through USAA. Once we had the pre approval we were in contact with a Realtor, looked at several homes, and made an offer that was accepted. We were then in contact by a Loan Officer named Tiffany G and she told us that all documentation that was needed could be uploaded through USAA online. Within a few days, everything was uploaded. Then, Anthony W, our Loan Processor was in contact with us concerning the process ahead. He stated that he noticed no red flags and said that the loan would soon be going into the 1st review. He stated that if anything else was needed, we would be allowed to submit it then. Now, just a little background on my husband and I. He is still currently active duty till Aug 31, 2017 and then he'll be retired from the Marine Corps after 21 years of service. I graduated from college in 2005 and earned a degree in Cardiovascular Sonography. I have been in that career for over 12 years. It's a growing line of work and I have never had problems finding a job everywhere my husband was stationed. My husband is currently stationed at Camp Lejuene and I have been employed with my current employer 1 year and 7 months. I make well and my husband and I both have great credit scores. Now, getting back to the loan process. Today May 10, 2017, I received a call from Tiffany G. She stated that she had a few more questions. She stated that she noticed the home we are planning to buy is over 5 hours away. She asked if I was planning on making the 5 hour commute to work everyday once we move. I said no. I will be getting a job around the area where we will be buying the home. I told her that I had an offer already and she asked if I had accepted it. Since the start date on the new job offer isn't till July, I did not see a rush in accepting it. Nor was the company offering the position giving me a deadline. She said that Fannie Mae requires that you have an accepted job offer. I told her, if need be, I could go ahead and accept the job. She stated that she needed a few more documents from us and by the time my husband went to upload them, our complete offer and process status was erased. Yes guys, just like that. They were done with us, just like that. Tiffany G could of cared less about our family on the other side of her computer. She, nor USAA, had no more to say to us. After all of that. No concern about helping us through these mortgage loan hiccups. I read reviews about USAA guys. I did not want to believe that those hundreds of bad reviews concerning strictly their mortgage loans were accurate. But they are guys. You spend so much time with USAA, providing what they need and then they throw you out like garbage. I would be glad to answer any questions you may have concerning this review.
Below is an excerpt from the Fannie Mae website and USAA did not follow their guidelines with us when it comes to future employment. We both had offers of future employment and told Tiffany G this.
Employment Offers or Contracts
If the borrower is scheduled to begin employment after the loan closes, the lender may, depending on its risk appetite, use the borrower's offer or contract for future employment and income to underwrite and close the loan. If receipt of the income or employment information cannot be obtained prior to delivery to Fannie Mae, the loan is ineligible for delivery.
✓ Verification of Employment Offers or Contracts
The lender must document the borrower's income and employment history per B3-3.1-01, General Income Information.
The lender must obtain the borrower's offer or contract for future employment and anticipated income. The lender must determine whether to close the mortgage loan prior to the borrower beginning the new employment.
The borrower must begin employment before the lender delivers the loan to Fannie Mae. The lender must obtain a paystub from the borrower that includes sufficient information to support the income used to qualify the borrower prior to delivering the loan. The paystub must be retained in the mortgage loan file.