Consumer complaint received 2023-10-05
Company: U.S. BANCORP
State: UT
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process
Sub-issue: Escrow, taxes, or insurance

Complaint:
I own a duplex property with a mortgage on it from US Bank. There was a fire there in XXXX. XXXX XXXX paid out $ XXXX total to pay for the renovations from the fire. They paid out $ XXXX to start, which I had to take to US Bank for them to endorse the check and I was able to deposit it with no issues. Then when the work was completed, I received a final check from XXXX of $ XXXX. I took that check into a US Bank branch on XX/XX/XXXX, and the branch manager called into the US Bank insurance claims process and she had them on speaker and because the total is now over $ XXXX, it had to go though a special process where we send in paperwork. The person on the phone listed what we had to do/send. We gave that info to the branch manager and she mailed it in. I heard nothing for a week or two and then I got a call from US Bank saying there was information missing. They said we didn't sign the back of the check ( no one told us this check would be cashed by US Bank, we assumed they would endorse the back of it like last time and mail it back ), so they had to mail the check back to us, and then I paid {$28.00} to overnight it back to them because at this point, I had already paid out that money myself to the construction company, so I'd been floating $ XXXX ( and I still am to this day on XXXX XXXX ). I also asked them at that point to overnight the check back to me when the process was done, they said they'd put in a request to do that. On that same call, they told me the work on the house needs to be inspected, and that they'd have an inspector reach out to me ( not sure why they didn't do that initially, but they waited until my call with them to trigger that process ). The inspector reached out and scheduled to come, but then canceled day of. And then we heard nothing back after that from them, so I called again. This time they told me the inspection was done, everything was done, and they would trigger the new check to be cut and sent to me. Again, i waited, and nothing happened. So I called back and the person told me the inspection still needed to be done, so they triggered a new inspection that at this point happened almost XXXX weeks ago, and I still have not received my check in the mail. I am going to call back today, but this is completely ridiculous. What would I have done if I didn't have the money to float this? My credit would be impacted. I have called I think 5 times at this point and every single time I've called I've been given incorrect info and told to do something else. The last time I even demanded a supervisor and she told me that after the inspection it would take them XXXX business days to release the check, which she would put in the request to overnight. That was XXXX weeks ago. Their process has to change. They have literally been holding my $ XXXX for XXXX weeks at this point. Is that even legal?

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation