Consumer complaint received 2023-10-04
Company: U.S. BANCORP
State: CA
Product: Credit reporting or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
I was going through financial hardship bc of a job loss and family death early this year. 

In XX/XX/2023, I contacted my Mortgage company, Union Bank, who holds my mortgage or my primary residence, and told them my situation, they offered me a Forbearance for 6 months with an option to extend another 3 months if needed. The loan was later sold to US Bank who promised to uphold the same terms. In XX/XX/2023, 2 months before the forbearance was to end, I contacted US Bank who was now the new servicing company, to ask for an extension, they said I would have to wait until the end of XXXX when the forbearance was scheduled to end to apply for either an extension or a payment reduction or a deferment. The process would take about 30 days and then I could be informed of my options. 

After applying on-line, I called the US Bank in XXXX and spoke with several representative including Relationship Manager, XXXX ( last names are not given ) ID XXXX XXXXXXXX - Credit Manager, XXXX XXXX XXXXXXXX, to make sure I was taking all the correct steps in applying under the right format, making sure my account was not being hurt. 

At all times during my 10 -15 calls ( all calls are recorded and can be retrieved ) to the bank speaking to different representatives and getting guidance on what to do next, I was re-assured that while my account was under review for an extension or other options by the US Bank underwriters which took over 45 days not 30, my Credit Report was protected by the California Forbearance clause. But it was NOT - they bank MIS-REPORTED my account late 120-159 days late. 

They not only mis-represented the facts, MIS-INFORMED - MIS-LEAD - MIS-GUIDED me, they poor consumer going through hardship, during the entire process telling me I had no option but to wait for the UW team to come back with a decision . 
Based on California Forbearance Protectiosn Laws, this is a grave MIS-REPORTING of facts, I was NOT 160 days late. I was in Forbearance. 

On XX/XX/2023 when I again called US Bank, the XXXX XXXX XXXX, specifically re-assured that I was right and they would make a request to remove the late reporting on my credit while awaiting the decision by US bank underwriters. 

On XX/XX/2023, US Bank UW team made a decision but I was not informed until XX/XX/203 via mail. They only offered to put my primary home up for a short-sale. There was nothing e.mailed or sent via the mortgage portal. - there is still nothing on the portal or any inbox mail or updates. 

So in reality, up until XX/XX/2023, when US Bank finally made a decision, I was left in a limbo with no clear guidance on how to proceed forward. And according to the US Bank Managerial team, my account should have been on hold and protected by the Forbearance clause and NOT reported late. 

My credit score has dropped from XXXX to XXXX. I was going to apply for a personal loan to bring my account forward and save my home but now they have damaged me in such a grave manner that I feel completely helpless- I desperately need your agency to help protect me and other against this type of tyrannical misuse of power towards normal citizens who are going through hardship and are doing everything to get back on their feel - and correct this mistake on my credit reporting. 

This MIS-REPORTING to credit bureaus and Mis-leading by leading Banking Institution of pertinent information to consumers is wrong and should not be tolerated.

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