Consumer complaint received 2021-09-29
Company: U.S. BANCORP
State: HI
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
XXXX XXXX XXXX XXXX XXXX XXXX HI XXXX XXXX XX/XX/XXXX Dear Consumer Financial Protection Bureau : Re : US Bank Mortgage Acct # XXXX I am writing this letter in complaint of US Bank who is my mortgage lender for my home. US Bank unilaterally purchased forced coverage for Wind Insurance on XX/XX/XXXX retroactively for XX/XX/XXXX to XX/XX/XXXX at the cost of {$5600.00}. This coverage is redundant as I already have the required wind insurance through my home insurance XXXX XXXX. 

I have called US Bank representative numerous times from XX/XX/XXXX until now. Myself and my XXXX XXXX agent have explained to them and uploaded proof of insurance to XXXX. Each time USbank representative has not called back nor emailed back. US Bank placed a lender placed wind insurance first time on XX/XX/XXXX and then refunded on XX/XX/XXXX. Then on XX/XX/XXXX US Bank placed again {$5600.00} wind-only coverage lender premium. US Bank representative has since refused to remove the premium. 

I do not any emails from US Bank because they did not email or follow up after any of the calls. I have enclosed emails from the XXXX XXXX agent, XXXX XXXX, explaining to US Bank that my home insurance DP3 policy includes wind insurance. 
The US Bank representative has said that if we show that we have wind coverage then the lender placed premium would be removed. On XX/XX/XXXX, XXXX XXXX uploaded another letter explaining that my homeowner insurance includes wind coverage. Despite proof of wind insurance ( part of the coverage of DP3 insurance ) as provided by XXXX XXXX. The US Bank representative have refused to remove the charge ( {$5600.00} ) for their redundant wind insurance. 

On the phone, the US Bank representative said that they can not remove the lender placed premium of {$5600.00} because US Bank is requiring hurricane coverage for my property and my current homeowner insurance does not have hurricane insurance. Yet, none of the US Bank letters sent to me had any mention of hurricane requirement. Each of the US Bank letter had requested wind coverage, which we had shown them we have. US Bank placed {$5500.00} on XX/XX/XXXX, then refunded on XX/XX/XXXX, then charged XXXX again on XX/XX/XXXX retroactively for XX/XX/XXXX. 

Does this violate any truth-in-lending? When I signed my home mortgage with US Bank in XX/XX/XXXX, US Bank had approved my homeowners which did not include any hurricane coverage. ( Attached XX/XX/XXXX XXXX homeowners insurance ). On the phone, the US Bank representative is saying US Bank can not remove the wind coverage premium of {$5600.00} because it covers for hurricane. Yet, US Bank has not sent any written notice to me requesting for hurricane coverage. US Bank sent letters with request for wind coverage, which I had sent proof that I have. I am asking for US Bank to remove and refund the redundant lender wind insurance on XX/XX/XXXX for retroactive coverage XX/XX/XXXX XX/XX/XXXX of {$5600.00} when wind coverage is included in my current home insurance DP3 policy. 

Sincerely, XXXX XXXX

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 monetary relief