Consumer complaint received 2022-03-08
Company: U.S. BANCORP
State: OH
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
I reached out to U.S.BANK in the beginning of XXXX to refinance our mortgage. We had received different offers in the mail, including offers from U.S. BANK. The whole process was a mess! From uploading the information to who ever needed it. I was having trouble with scanning everything into the portal, so I stopped into a newby location and asked if they would scan everything in for me. Which they gave me a hard time about, because I didn't have an appointment. But, there was no other customers there or on the phone... Then she didn't scan all the information, which caused a hold up. Then the confusion of my husbands job. He has been a XXXX  for many years! Which caused confusion. I would get multiple calls, often asking the same thing, asking for XXXX 's business information. In order to refinance we needed to have an appraisal done. Which they supplied the person but had to pay for it, which we did on XX/XX/2021. I get the call from my refinance lady XXXX XXXX saying everything is looking well, and they just needed to verify our employment information. She called me and let me know she did, and everything checked out, and our loan would be closing soon. At this point I did speak with my employers about going down to part time because I had received a better job offer. The conversation did not go well, and I was told they were not interested in that. Later, to find out that some how my information was wrong either from my then employer or at the bank but they had to call them back to verify which they also told them I didnt work for them anymore. Sigh, so another hurdle, even though I left for a better occupation, and have a solid work history my income no longer counted. Even though I would have waited to give my notice until after the loan was closed. 
So at this point XXXX tells me it will be ok, XXXX will be approved on his own income. Ok great! Well, maybe you might have to pay off your vehicle, even though in the mean time we had paid off his truck. After, working on paying off my vehicle, she then informs me that she was wrong that won't work... And that we have to wait at least 3 months for my income to count again.. At which point our interest rate was going to be 2.5 for a 15 year loan. 
Needless to say, after trying to work with U.S.BANK for 4 months to refinance we decided to look else where. The reason we were going with U.S. Bank in the first place was because that's were we had our original mortgage thru, that is where we have all accounts we thought that it would be the easiest. They already have all our information. 
Well we decided to work with XXXX XXXX, which requested the appraisal information. XXXX XXXX informed me that I needed to get the appraisal and a form n from U.S.BANK because they had tried via email and fax requesting it. Which I then forwarded the emails to XXXX and XXXX XXXX. I did not get a copy myself. I could not get anything to open. I asked several times, even called multiple times. XXXX XXXX sent me back a reply stating that in the 20 years he has worked in mortgage he has never sent an appraisal. Time went on, with more request even asking them to find a supervisor or someone else to send the information back over. Well the information was never sent, and time ran out. The appraisal expired, so I just had to pay to have another one done. This was a total nightmare experience, that was costly in our time, stress level, and money with no results. We have had lots of small problems here and there with this company, but this is the final straw with this company. After our refinance is completed we are closing all of ours accounts, and strongly recommending everyone else we know do the same thing. Currently we have our checkings, savings, credit cards and mortgage with U.S.BANK.

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