Consumer complaint received 2017-12-08
Company: U.S. BANCORP
State: UT
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
An appraisal was performed on my home and appraisal report received and submitted to the Lender on XX/XX/XXXX, the report was submitted 'Subject to ', the lenders receipt of this appraisal report constitutes knowledge of the need for an appraisal completion report. The Lender then has three days to resdisclose the Appraisal Fee associated with the Appraisal completion report. The fee was not redisclosed within the time frame allowed and further, when a loan estimate was eventually redisclosed on XX/XX/XXXX for  a change in loan program and loan amount, the appraisal fee increase was n't redisclosed then either. A closing disclosure was supposed to go out on XX/XX/XXXX and we were told throughout the day by XXXX XXXX, US Banks Account Executive, that they were working on the clear to close and closing disclosure so that they would be ready to release the closing disclosure as soon as they received the clear to close, throughout the day I was continually told by XXXX that he was waiting for answers back from mangers to get my file pushed through, it was only at the end of the day XXXX admitted they would only be working on completing the Clear to close and the closing team for sending out a Closing Disclosure had already gone home for the day. The reason for the file taking so long to get clear to close was not given, however the next day when we were still waiting on a Closing Disclosure, I received instead another Loan Estimate, US Bank was attempting to redisclose the appraisal completion report fee on the Loan Estimate. This is out of compliance for redisclosing the fee as the point of knowledge was XX/XX/XXXX and the redisclosure was on XX/XX/XXXX, nearly two weeks later. Its clear to me the delay in issuing the clear to close was so that the loan would not be able to close as scheduled on XX/XX/XXXX and we would be unable to fund XX/XX/XXXX, by pushing out the closing disclosure by one day they manufactured for themselves a need to extend the lock which was set to expire on XX/XX/XXXX and subsequently a need to issue a change of circumstance to extend the lock, all to my detriment, at my expense. They included the Appraisal fee on the redisclosure which is in violation of the three day rule and from my point of view they manipulated my ability to close on time in order to do it. I had been very plain and communicative with US Bank, and XXXX XXXX in particular, that we needed to close by the XX/XX/XXXX and fund by the XX/XX/XXXX in order for me to be able to pay my contractors in time for work that was completed on my home, pushing my closing date out has a real, tangible, negative financial impact on me and sours my relationship with contractors that have performed admirably for me to complete work on my home, contractors I will likely want to eventually use again, so US Banks actions, in violation of TRID rules, have been detrimental to me in both real financial terms and in personal consequences.

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