Consumer complaint received 2020-12-14
Company: U.S. BANCORP
State: CO
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
I was affected by the pandemic earlier this year and my property taxes ( shortage was XXXX ) more than doubled increasing my mortgage payment by $ XXXX, a forbearance plan was offered by US Bank Home Mtg ( my mortgage company ). The forbearance plan included monthly payments from XXXX to XXXX. Again, in XXXX an escrow analysis was run increasing my payments effective XX/XX/XXXX to right around {$2400.00} ( XXXX P & I, XXXX insurance and {$360.00} towards the new tax amount in XXXX and {$290.00} to cover the shortage - spread over 12 months ). When the deferral was sent to me and finalized on XX/XX/XXXX the breakdown was as follows : -4 payments totally {$6600.00} for P & I -Escrow balance iao {$1400.00} -waived fee iao {$560.00} -Total amount deferred to a non-interest bearing account - {$8000.00} The shortage at the time of the deferral was {$3500.00} which I had to option to voluntarily pay or spread over 60 months, increasing my payments once again on top of the already spread shortage of XXXX over 12 months - so now my payment went up from XXXX to XXXX - which makes NO LOGICAL SENSE why my shortage is being spread over 12 months then again over 60 months because of the deferral. 

The breakdown for the escrow analysis ran in XX/XX/XXXX for the new payment effective XX/XX/XXXX ( totaling XXXX ) was as follows : {$1600.00} - P & I {$140.00} - Insurance {$360.00} - Taxes - in preparation for the increase bill for XXXX {$290.00} - XXXX shortage spread over 12 months ( XXXX / XXXX ) Per the deferral my new payment recalculated a new shortage in the amount of {$3500.00} which included the {$3500.00} from XXXX spread over 60 months ; HOWEVER, instead of replacing the XXXX shortage spread as shown above the 60 month spread for the XXXX was tackled onto the XXXX total monthly payment as broken down below for a new payment due XX/XX/XXXX iao {$2500.00}. 

{$1600.00} - P & I {$140.00} - Insurance {$360.00} - Taxes - in preparation for the increase bill for XXXX {$290.00} - XXXX shortage spread over 12 months ( XXXX / XXXX ) {$59.00} - XXXX shortage spread AGAIN now over 60 months ( XXXX - a {$51.00} fee was added to the shortage not sure why divided by XXXX ) My actual payment should be {$2200.00} as broken down below but their system isn't reflecting that and I keep calling and getting different/ conflicting information stating I have to pay {$2500.00} other times {$2400.00} and most recently someone even told my my payment for XXXX was {$1900.00}. I'm afraid if I send in the right amount of {$2200.00} it will be misapplied or go into suspense not advancing my due date. Several representatives have told me not to make a payment until the system is updated but that it could take up to 3 months to update. 

Actual payment that should be reflected in the system for XX/XX/XXXX after deferral and spread are accurately updated : {$1600.00} - P & I {$140.00} - Insurance {$360.00} - Taxes - in preparation for the increase bill for XXXX {$59.00} - XXXX shortage spread ( {$3500.00} ) over 60 months Total XXXX with shortage as of XX/XX/XXXX should be : {$2200.00} I am so FRUSTRATED and upset I can not get anywhere with this company, most of the agents I've talked to with a small exceptions have no idea how escrow is calculated or the slightest clue on how it works. I just want to pay my mortgage and have it be applied accurately. I get we are in the middle of a pandemic but US BANK should be better equipped at this point with their agents and MSP system. 

HELP! 
thanks, 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 explanation