Consumer complaint received 2023-01-26
Company: U.S. BANCORP
State: VA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
We have had almost {$17000.00} stolen from us due to the misinformation given to us by USBank. This money is meant to feed and care for our children and help cover our relocation costs after this move but at the moment we are in dire financial straights. 

We listed our house for sale, mortgaged with USBANK, in summer of XXXX. In XXXX we called to find out what was in our escrow account as we were considering a offer and our realtor suggested we look at what our escrow refund might be. We called USBank to ask about the escrow account and were told the account had {$4900.00} in it, on our realtors recommendation we asked if everything had been paid out already and were told yes. So we expected the refund to be fairly large since they said everything had been paid. That offer fell through so we didn't close in XXXX as we hoped. 
In XXXX we had another offer. We called for a payoff amount so that we would know what offer to accept. We had taken a Covid forbearance in XXXX, which we knew would be due to be paid on sale of the house. We asked specifically when we called for the payoff, if that covid forbearance amount was included in the payoff amount given, and were told by multiple people that it was included. The amount we were given in XXXX for the payoff was {$130000.00}. Based on that amount and the expected escrow refund we accepted an offer in XXXX. 
XX/XX/XXXX, we noticed the escrow amount had plummeted down to {$570.00}. We were shocked and angry so called to find out what was going on. Discovered that disbursements were made mere days after we were told all of them had already been made in XXXX and had continued to be made through XXXX. This left us with a pittance of the refund we had been told we could expect. We called multiple times and all they could tell us was too bad, what's there is there. We were never transferred to an escrow agent, or anyone in that department, we took what they said at face value and made financial decisions based on the numbers they gave us and the expectations that were given as well. 
Closing was set for XX/XX/XXXX, but when we received the closing disclosure form we saw the covid forbearance separated from the mortgage payoff amount in the form of a HUD loan, listed at XXXX, this brought our total payoff amount to {$140.00}, XXXX. All of that coming from our profit. 
We called USBank, who sent us to HUD, who sent us back to USBank, everyone saying too bad that's what's there is there and we can't change anything. We called again and filed a complaint after talking to multiple senior agents and supervisors in the escalation circuit. We were told along the way, by the staff and with condescension, that everything is our fault for just making poor business decisions. 
That complaint XXXX result in reviewing phone calls but will take up to 30 days and at this rate they XXXX say the same things even if they review their agents call records telling us what we've said. 
At this point I have no confidence in USBank or their staff to make this right and am relying on others to step in and get our money back.

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