Consumer complaint received 2021-10-14
Company: U.S. BANCORP
State: HI
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
I am a Hawaii property home- owner who was involved with a loan modification plan offered by the U.S. Bank in the location of Kentucky . The modification plan started XX/XX/XXXX. But even 2 months ' later to XX/XX/XXXX, after we were signing 5 times of the documents in front of the notary public in Hawaii, the documents were not accepted by the U.S. Bank due to the bank having been unfair, misleading and discriminated against us in lending. 
As a result, we suffered from monetary loss and punitive damages such as emotional distress, inconvenience and spiritual health. I give the background of my story as below : 1. Back in XXXX, we had a new mortgage loan of {$520000.00} with XXXX XXXX XXXX  in Hawaii. But after a few months, XXXX sold the mortgage to the U.S. Bank in Kentucky. So we were paying the monthly mortgage to the U.S. Bank directly since XXXX. Until the year of XXXX, due the financial difficulty from the Pandemic, we missed a few months payment. Then suddenly, a manager from the U.S. bank called me and said I could join the forbearance program to modify the loan from 30 years fixed to 40 years fixed and then reduced my monthly payment up to {$500.00}. The interest rate remained the same 3.75 % and it will not affect our credit score. I was happy to accept this offer. Then they started to request I and my son 's credit scores ( the title is owned by me and my son ) and found out they were excellent. So the modification was officially approved. 

2. Then by XX/XX/XXXX, they sent us a package of documents by UPS to sign in front of the notary public in Hawaii, I suddenly found out my husband 's name was on the signature page. So I called the bank 's customer service, the general staff only gave me a vague answer to say that it may be my husband is living in the same property. He had to sign even though he was not on mortgage and not on title. Finally, I convinced my husband to sign in order to save time. But after a few days I sent the documents, they sent me another set of documents and said that the previous one was not accepted because my husband did not sign the way they wanted. So I called them again, this general staff said your husband should sign exactly his printed name not in a stylish way. So my husband signed again and sent to them. 

3. A few days later, the documents were rejected and asked us to sign again. This time they complained about my signature. Since I was using a power of attorney to sign for my son, I should sign XXXX XXXX for XXXX XXXX XXXX attorney in fact. So I asked that customer service why you did not tell me last time. They said they didn't know. So I signed again and sent out. After a few days, they were unaccepted and asked us to sign again, this time they complained about the notary public not placing the seal on the right position. So I found another notary to sign. But still back and forth that made me so frustrated and emotional distress. Every time I received the rejection letter, I just got sick. 

4. After I sent out the 5th package, they told me that the notary should put only one seal not two seals, I sent them a notary public manual, which said that all the real estate documents must be 2 seals otherwise, you can not record the document. But the U.S. Bank still rejected the documents 5. I knew that it was wasting my time to talk to them. So I borrowed some money from a local bank by paying high interest. And then use that money to pay off the forbearance balance in XX/XX/XXXX. Then I am free and out of the forbearance plan. After that, I went shopping around to find a good company to refinance whole loan. Now the entire loan was paid off. I don't owe U.S. bank any money, However, I suffered from the following damages : 1. When I refinance the mortgage out of the U.S. Bank, I need to pay closing costs, appraisal fee around {$6000.00}. Also when I borrow money to pay off the forbearance balance, I have to pay a few hundred dollars loan interest too. 

2. Punitive damages -- -The U.S.Bank is so irresponsible that they don't have any loan officer to communicate with me or guide me to do the way they want. During the past 3 months, I suffered from emotional stress, health problems ( I am XXXX years old and my husband is XXXX years old ), inconvenience and loss of time. This bank was unfair, misleading and discriminated against us. 

We want to know if this is a case to file a claim against this U.S. Bank. I don't want to see them treated the same way to other customers in Hawaii.

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