Consumer complaint received 2017-01-04
Company: U.S. BANCORP
State: CA
Product: Mortgage
Sub-product: Home equity loan or line of credit
Issue: Application, originator, mortgage broker

Complaint:
In XX/XX/XXXX, my wife and I purchased XXXX XXXX XXXX at in XXXX Ca, and I worked with XXXX from US Bank to obtain a lot loan. XXXX with XXXX XXXX XXXX performed the appraisal of my property for U.S. Bank. After the appraisal results were obtained I disagreed with XXXX findings and expressed my feelings to XXXX and US Bank via telephone. I told XXXX with US Bank that I did n't want to conduct business with XXXX or XXXX XXXX XXXX in the future. XXXX said XXXX would not be conducting future appraisals on my property. 

In the beginning of XX/XX/XXXX I applied for a new construction loan from US Bank for my property. I provided the new construction documents and building plans to US Bank and once again my documents and lot were appraised by XXXX XXXX against my wishes. I submitted a complaint to US Bank representative XXXX XXXX advising that I had a conflict with using XXXX XXXX as an XXXX and did not agree with his conclusion. My complaint was never resolved and US Bank proceeded with XXXX XXXX 's appraisal. 

On or about XX/XX/XXXX, I worked with US Bank to consolidate my new construction and lot loan for my property. Once again my property was submitted to be appraised by XXXX XXXX against my wishes. I spoke to XXXX and XXXX with US Bank on the telephone and via email to reiterate my disappointment with them using XXXX XXXX for my appraisal. I specifically told them that there was a conflict with using XXXX as an XXXX because I was already disputing the last appraisal that XXXX XXXX submitted. Initially XXXX said he would have another company conduct the appraisal and suggested that I work with XXXX of US Bank to resolve my appraisal dispute. I explain my dispute with XXXX and he stated that he spoke XXXX about my conflict and also agreed to have another company perform my appraisal. After several weeks of working with XXXX and XXXX they both later recanted their statements saying they were not allowed to move forward with another appraisal company. 

XX/XX/XXXX, I worked with XXXX to apply for a home equity line of credit with US Bank. On XXXX I received a call from a representative from XXXX XXXX XXXX, asking, " When would it be a good time to have XXXX appraise your residence ''. I stated to the representative that I did not require their services. Once again I contacted XXXX and told him that that XXXX was recommended by US Bank to appraise my residence. I told XXXX that I was submitting a formal complaint and XXXX asked me to send him an email and he would resolve this issue and have another company complete the appraisal. XXXX subsequently scheduled another company which is now scheduled to complete the appraisal XX/XX/XXXX 

Please explain how XXXX XXXX can legally get the business to appraise the same property XXXX times in a XXXX year period? Please explain why this is not a conflict of interest. So much for a " XXXX pick of appraisers '' from banking industries.

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